Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Atlanta & Southeast News In Your Inbox

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Atlanta & Southeast  + Carolinas  + Retail  |  September 12, 2023
Marcus & Millichap has arranged the sale of Westgate Plaza in Kinston, NC.
Angela Noote
By: Angela Noote

Marcus & Millichap Arranges $5M Sale of NC Shopping Center

Marcus & Millichap has arranged the sale of Westgate Plaza, a 51,213-square-foot retail center located in Kinston, NC. The property sold for $5 million, or $97.63 per square foot.

Andrew Margulies and Harrison Creason, investment specialists with Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a North Carolina-based family office. The buyer is a North Carolina-based private partnership.

“Despite some negative news about commercial real estate today, which is highly focused on office buildings, retail properties in many submarkets are attractive investments,” says Margulies. “Retail rents have continued to rise while occupancies have remained steady due to a lack of new construction.

Westgate Plaza on Vernon Avenue in Kinston, was built in 1988 on 6.97 acres. It’s anchored by Harbor Freight Tools, Badcock Furniture and PetSense and has a strong history of occupancy plus extra land for potential development.

Marcus & Millichap is beginning the fall with two timely webcasts. Click here for on-demand replays of “Positioning for Opportunity in Today’s Multifamily Market,” with insights from both in-house experts and institutional owners. On Sept. 26, Hessam Nadji will host a conversation with Lloyd Blankfein, former chairman and CEO of Goldman Sachs, with CRE industry leaders joining the conversation. Click here to register.

Read More News Stories About: Marcus & Millichap
Connect

Inside The Story

Marcus & Millichap

About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.
Order Reprints
  • ◦Sale/Acquisition
New call-to-action
New call-to-action