Marcus & Millichap arranged the sale of a 169,896-square-foot Super Kmart in Valdosta, Ga.
The value of the transaction was $10.7 million.
Super Kmart is located at 1106 St. and is situated on an approximately 20-acre parcel. The property was constructed in 1994 and entirely renovated in 2000. Longhorn Steak House occupies an out-parcel ground lease through 2011. There is also an additional out-parcel available to construct a 4,400-square-foot building. Both out-parcels are included in the sale.
A Southern California-based family trust sold the property to Kimco Realty Corp., a New York-based retail REIT.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
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