Marcus & Millichap Announces Sale of 18-Suite Retail Strip in North Carolina

FAYETTEVILLE, N.C., August 29, 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 Elmwood Crossing, a 21,800-square-foor retail strip located in Fayetteville, North Carolina.

Donald Gilchrist and Nico Kerman, investment specialists in Marcus & Millichap's Raleigh office, had the exclusive listing to market the property on behalf of the seller, Elmwood Crossing, LLC, Mr. Ralph Huff and procured the buyer, Prudential Growth Partners, LLC.

Elmwood Crossing is located at 2653 Hope Mills Road on 2.96 acres. Built in 2008, the strip features 18 suites currently occupied by 10 tenants, including businesses such as One Stop Academy, K Beauty Supply, Optimize U Weight Loss Center, 22 Klicks Bar & Grill and Lendmark Financial. Nearby national retailers include Bank of America, Walmart Superstore, Food Lion and McDonald's.

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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.