FOR IMMEDIATE RELEASE
MARCUS & MILLICHAP ARRANGES THE SALE OF 34,252-SQUARE FOOT RETAIL PROPERTY
GULFPORT, MS, October 10, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Centre at Courthouse, according to Todd E. Lindblom, regional manager of the firm’s Milwaukee office. The asset sold for $2,575,000.
Jeff R. Rowlett and Matt Fitzgerald, investment specialists in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Anne Williams, Mississippi Broker of Record, assisted in this transaction. The seller, Centre at Courthouse, Inc. is a wholly owned real estate investment property of Mladinich Holdings, LP., Biloxi, MS.
Centre at Courthouse is located at 405 E Pass Road in Gulfport, MS. This investment consists of two buildings, one occupied by three tenants at 31,975 square feet and the other two tenants at 2,277 square feet. The larger building was built in 1974 but was completely redeveloped in 2006 with a new roof, all new electrical, water lines, sewer, sprinkler system, new 2” asphalt and new pylon/monument sign. The smaller two tenant building was built in 2011 located in the outlot of the larger building. Currently the tenants leasing space consist of Citi Trends, Dollar Tree, Shoe Show and Smoothie King.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com