Marcus & Millichap negotiated the sale of a 312,500-square-foot, multi-anchor power center in Alexandria, La.

The value of the transaction was $11.5 million. 

A Louisiana investment partnership sold the property to a Cincinnati, Ohio-based buyer.

The Alexandria Power Center is located at 1804 MacArthur Drive and situated on 20 acres. The center was constructed in 1974.

At the time of sale, the center was 87 percent occupied by tenants such as Office Depot, Ashley Furniture, Dollar General, Hancock Fabrics and Burkes Outlet.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

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