Marcus & Millichap Brokers Sale of Walmart Shadow-Anchored Retail Center in Western Virginia

COVINGTON, Va., Sept. 26, 2025 - 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 a 32,023-square-foot Walmart Supercenter shadow-anchored retail center in Covington, Virginia. The property sold for $4,425,000.

"Shadow center demand remains strong," said Zach Taylor, Senior Managing Director Investments. "We've seen a noticeable uptick in buyer activity, as improved debt market conditions are generating renewed confidence and momentum."

Taylor and Eric Abbott of Marcus & Millichap represented the seller, a private real estate company, in association with Brian Hosey, the firm's broker of record in Virginia.

Located at 317-339 Thacker Ave., the retail center was built in 1998 and is 92% occupied. Major tenants include Dollar Tree, Cato, Shoe Show, T-Mobile, and several restaurants and service-oriented businesses. Walmart has operated at the adjacent site since 2007.

The property sits on 4.37 acres within a 25-mile trade area and is the most visited shopping center in a 30-mile radius.

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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit https://www.MarcusMillichap.com.