GOLDSBORO, N.C., Feb. 5, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Berkeley Commons, (top right photo) a 136,827-square foot shopping center in Goldsboro.
The sales price of $19 million represents a 7.69 percent cap rate.
Alvin Mansour, (top left photo) a first vice president investments and senior director of Marcus & Millichap’s National Retail Group in San Diego, represented the seller.
Steven Siegel, a vice president investments and senior director of Marcus & Millichap’s National Retail Group in Manhattan, represented the buyer. The Charlotte office of Marcus & Millichap assisted in closing this transaction.
“National tenants comprise more than 95 percent of the center’s occupancy and account for more than 90 percent of the income stream,” says Mansour.
Constructed in 2006, Berkeley Commons is anchored by Bed Bath & Beyond, Old Navy, Ross and TJ Maxx, and boasts a diverse mix of tenants including Lane Bryant, H&R Block, Rue 21, Radio Shack, Maurices, Rack Room Shoes, Fashion Nails, Bailey’s Jewelry, Empire Fire Mongolian Restaurant and Cold Stone Creamery.
Located at 1201-1303 Berkeley Boulevard, the multi-tenant shopping center receives excellent exposure along one of the area’s main traffic arteries within a booming retail corridor.
Berkeley Boulevard experiences traffic counts of 29,000 vehicles per day and traffic counts along nearby U.S. Highway 70 exceed 70,000 vehicles per day.
Located in eastern North Carolina, Goldsboro is the county seat of Wayne County and is home to Seymour Johnson Air Force Base and the 4th Fighter Wing.
Press Contact: Stacey CorsoCommunications Department(925) 953-1716
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