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Atlanta & Southeast  + Southeast  + Retail  | 

Marcus & Millichap Arranges $24M Sale of North Carolina Retail Center

Marcus & Millichap has arranged the $23.5 million sale of the High Point Harris Teeter Center, a 192,548-square-foot shopping center in High Point, N.C.

Originally built in 1975, the High Point Harris Teeter Center was 100% occupied at the time of the sale by a mix of tenants that included Harris Teeter, T.J. Maxx, Ross and Staples. Lori Schneider of Marcus & Millichap represented the seller in the transaction, a private investor which had owned the property for more than 20 years. The buyer was an investment group.

“The very positive market response I experienced demonstrates that demand exists for properties that are anticipated to have economic staying power, despite current concerns caused by the global pandemic,” said Schneider. “Retail property is highly scrutinized but investors are active. Execution of the transaction was reminiscent of pre-pandemic assignments, even though sales of comparable $20 million-plus power/grocery-anchored shopping centers are less than half of their previous levels.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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