Cleeman Realty Group completes off-market sale of Columbia Marketplace

Columbia, MS Cleeman Realty Group brokered the off-market sale of Columbia Marketplace, a grocery anchored shopping center. The 136,000 s/f center was 72% occupied at the time of sale and is anchored by Ramey’s Marketplace, a regional grocer with over 20 locations across Mississippi, Alabama, and Louisiana. The property offers visibility, traffic flow, and proximity to major national retailers, including Walmart.

Jeremy Scheer of Cleeman Realty Group represented the buyer and seller.

The seller completed the sale in connection with a maturing loan on the property, while the buyer was attracted to the significant upside the asset presents through lease-up of the remaining vacancy.

“Columbia Marketplace presented a compelling investment opportunity anchored by a strong grocer and positioned along the city’s primary retail corridor,” said Scheer. “The buyer recognized the meaningful upside available through leasing the remaining vacancy, and we’re pleased to have represented both parties in facilitating the transaction.”

Tags: Brokerage Outside The Region Retail Shopping Centers

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