Press Releases
Marcus & Millichap Brokers $6M Sale of Retail Center in Charlotte
September 24, 2026
CHARLOTTE, N.C., Sept. 24, 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 Eastland Promenade, a retail property in Charlotte, North Carolina. The asset sold for $6 million.
“This asset had been owned by the seller’s family since the mid-1960s, and after multiple generations of ownership, the family decided it was time to sell,” said Kyle Carpentier, associate investments in Marcus & Millichap’s Charlotte office. “We ran a competitive marketing process that generated multiple offers from both local and out-of-state investors with varying profiles. Eastland Promenade offers tremendous upside in a high-traffic Charlotte corridor that has recently seen substantial public and private investment. The property sold at list price after receiving several competitive offers, reflecting strong demand for well-located, value-add retail in the Southeast.”
Carpentier, Andrew Margulies and Harrison Creason of Marcus & Millichap exclusively marketed the property on behalf of the seller, a local family ownership group, and procured the buyer, a fund-based private equity group that invests in retail centers nationwide.
The building, located at 5534 Albemarle Road, totals 26,615 square feet on a 2.58-acre lot. It was built in 1988 and has 10 retail units and onsite parking. It was fully occupied at the time of sale by a mix of local retailers, restaurants and service-oriented tenants.
The property is adjacent to Eastland Yards, an 80-acre mixed-use development site, and approximately five miles from Uptown Charlotte.
“This asset had been owned by the seller’s family since the mid-1960s, and after multiple generations of ownership, the family decided it was time to sell,” said Kyle Carpentier, associate investments in Marcus & Millichap’s Charlotte office. “We ran a competitive marketing process that generated multiple offers from both local and out-of-state investors with varying profiles. Eastland Promenade offers tremendous upside in a high-traffic Charlotte corridor that has recently seen substantial public and private investment. The property sold at list price after receiving several competitive offers, reflecting strong demand for well-located, value-add retail in the Southeast.”
Carpentier, Andrew Margulies and Harrison Creason of Marcus & Millichap exclusively marketed the property on behalf of the seller, a local family ownership group, and procured the buyer, a fund-based private equity group that invests in retail centers nationwide.
The building, located at 5534 Albemarle Road, totals 26,615 square feet on a 2.58-acre lot. It was built in 1988 and has 10 retail units and onsite parking. It was fully occupied at the time of sale by a mix of local retailers, restaurants and service-oriented tenants.
The property is adjacent to Eastland Yards, an 80-acre mixed-use development site, and approximately five miles from Uptown Charlotte.
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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 www.MarcusMillichap.com.
