Marcus & Millichap Inc.
06/16/2026 | Press release | Distributed by Public on 06/16/2026 16:30
Marcus & Millichap Brokers Sale of 163,975-Square-Foot Shopping Center in Raleigh Anchored by Marquee Cinemas and Kroger
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Marcus & Millichap Brokers Sale of 163,975-Square-Foot Shopping Center in Raleigh Anchored by Marquee Cinemas and Kroger
June 16, 2026
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RALEIGH, N.C., June 16, 2026 - 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 Wakefield Commons, a four-building, 163,975-square-foot shopping center in Raleigh, North Carolina. The asset traded for $33 million.
"The sale of Wakefield Commons represents the long-term stability of shopping centers as a commercial property asset class, while also having the potential to create future value," said Andrew Margulies, senior managing director investments with Marcus & Millichap. "The property is anchored by Marquee Cinemas and Kroger, which has been subleasing to Galaxy Fun Park for the past decade. The asset will need updates to compete with other properties in the submarket, and it is located at a high-profile intersection that makes it ripe for a reposition opportunity." Margulies, Harrison Creason, and Patrick Barratt of Marcus & Millichap, in association with Charles Gallagher, Marcus & Millichap's broker of record in North Carolina, represented the seller, a subsidiary of Mishorim Investments in Israel, and procured the buyer, a joint venture between Greenberg Gibbons in Baltimore, Maryland and Wilder Co. in Boston, Massachusetts.
Built in 1999, 2000, and 2004 on nearly 26 acres Wakefield Commons is located at 14460 Falls of Neuse Road, 1060 Common Oaks Road, 10760 Wakefield Commons Drive, and 10901 Forest Pines Drive. At the time of the sale, the center was 96% leased by a tenant roster that includes a ground-leased Kroger, Marquee Cinemas, Starbucks, AT&T, Moe's Southwest Grill, Honey Baked Ham, Papa Johns, Jersey Mike's, UPS Store, Burn Boot Camp, and Goldfish Swim School. The average annual household income within a three-mile radius is $153,000.
"The sale of Wakefield Commons represents the long-term stability of shopping centers as a commercial property asset class, while also having the potential to create future value," said Andrew Margulies, senior managing director investments with Marcus & Millichap. "The property is anchored by Marquee Cinemas and Kroger, which has been subleasing to Galaxy Fun Park for the past decade. The asset will need updates to compete with other properties in the submarket, and it is located at a high-profile intersection that makes it ripe for a reposition opportunity." Margulies, Harrison Creason, and Patrick Barratt of Marcus & Millichap, in association with Charles Gallagher, Marcus & Millichap's broker of record in North Carolina, represented the seller, a subsidiary of Mishorim Investments in Israel, and procured the buyer, a joint venture between Greenberg Gibbons in Baltimore, Maryland and Wilder Co. in Boston, Massachusetts.
Built in 1999, 2000, and 2004 on nearly 26 acres Wakefield Commons is located at 14460 Falls of Neuse Road, 1060 Common Oaks Road, 10760 Wakefield Commons Drive, and 10901 Forest Pines Drive. At the time of the sale, the center was 96% leased by a tenant roster that includes a ground-leased Kroger, Marquee Cinemas, Starbucks, AT&T, Moe's Southwest Grill, Honey Baked Ham, Papa Johns, Jersey Mike's, UPS Store, Burn Boot Camp, and Goldfish Swim School. The average annual household income within a three-mile radius is $153,000.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
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