Marcus & Millichap Brokers $6.8M Sale of Walmart Shadow-Anchored Retail Center Near LSU, Completing $12M Strategic Disposition

BATON ROUGE, La., Sept. 9, 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 Village Square, a 47,000-square-foot, Walmart shadow-anchored retail center in Baton Rouge, Louisiana. The property sold for $6.8 million. In May 2025, Village Square's Capital One and IHOP outparcels sold for $5.2 million.

Zach Taylor and Eric Abbott of Marcus & Millichap's Taylor McMinn Retail Group, specializing in shopping centers, exclusively marketed the property on behalf of the seller, a Tennessee-based developer, and procured the buyer in association with Steve Greer, the firm's broker of record in Louisiana. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group, focusing on net-lease properties, sold the outparcels on behalf of the same seller in May.

"The Taylor McMinn Retail Group's dual expertise in both single- and multi-tenant retail uniquely positioned us to maximize the seller's proceeds through a strategic bifurcation of the asset," said Zach Taylor, senior managing director investments. "Solving for the different buyer pools delivered at least 50 basis points of cap-rate compression for our client."

Located at 3132 College Drive, the retail center sits directly off Interstate 10, which sees more than 206,000 vehicles per day. It is shadow-anchored by a Walmart Supercenter that serves the nearby Louisiana State University community. Tenants include Office Depot, Sally Beauty, Coffee Call, Classy Nails, Teatery & Tapioca, and Juicy Seafood. Office Depot and Sally Beauty have operated at the site for more than 20 years.

# # #

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.