Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Lexington Town Square, a 75,763-square foot retail property located in Lexington, South Carolina, according to Benjamin Yelm, regional manager of the firm’s Raleigh office. The asset sold for $7,125,000. The property is located at 712 W Main St. in Lexington, S.C.
“Lexington Town Square is an established location in the Columbia area, anchored by Food Lion, with exceptionally strong sales and a solid line-up of local and regional co-tenants. The buyer deployed 1031 capital for their equity and assumed an existing mortgage with a low interest rate, which allowed the seller to achieve their desired sale price and cap rate,” said Margulies, senior vice president investments
Andrew Margulies and Harrison Creason, investment specialists at Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Andrew Margulies and Harrison Creason. Ben Yelm, South Carolina broker of record, assisted in closing the transaction.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
