Marcus & Millichap : Sells Grocery-Anchored Shopping Center in Monroe Louisiana for $10.5 Million
June 14, 2024
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Marcus & Millichap Sells Grocery-Anchored Shopping Center in Monroe Louisiana for $10.5 Million
June 14, 2024
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MONROE, La., June 14, 2024 - 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 a 96,765-square-foot, grocery-anchored shopping center, in Monroe, Louisiana. The asset sold for $10,500,000.
"The collaboration between the Dallas and Atlanta Marcus & Millichap offices led to a great outcome for the sellers," says Zach Taylor, senior managing director of investments. "We were able to tap into our respective databases of grocery-anchored buyers across the South to generate almost 20 offers."
Taylor and Philip Levy, investment specialists in Marcus & Millichap's Dallas and Atlanta offices, had the exclusive listing to market the property on behalf of the seller, a Texas-based private investor. Steve Greer, Broker of Record in Louisiana, assisted in closing the transaction.
The Plaza One Shopping Center has been a well-known retailer in the Monroe community since 1973, with a history of strong tenant performance and an average tenant tenure of 12 years. Located at 2810 Louisville Ave., the fully occupied center comprises a mix of 14 national, regional, and local tenants and is anchored by Super 1 Foods, which has been in this location for 35 years.
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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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
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14 June 2024 and is solely responsible for the information contained therein. Distributed by
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Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
