Dealmaker: Marcus & Millichap Sells Publix-Anchored Retail Center for $29M

Marcus & Millichap, Calabasas, Calif., sold Gateway Marketplace, a 131,780-square-foot shopping center in Jacksonville, N.C., for $29 million.

Publix supermarket, HomeGoods, Michaels and Ulta Beauty occupy 78% of the 16-suite asset’s gross leasable area

Jacksonville is home to the United States Marine Corps’ Camp Lejeune and New River Air Station.

“There was a broad spectrum of interested buyers in this well-located Publix and HomeGoods-anchored center in the high-growth area of Jacksonville, North Carolina,” said Lori Schneider, Executive Managing Director in Marcus & Millichap’s Fort Lauderdale office. “The number of cash buyers is indicative of today’s market flush with equity to place in worthy deals.”

Schneider and Marcus & Millichap First Vice President David Gant marketed the property for the seller and procured buyer Prestige Properties and Development LLC, New York.

Located at 3000 Western Boulevard, Gateway Marketplace delivered in 2019.