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 Berkeley Plaza.

The property sold for $10,450,000.

“Berkely Plaza received a lot of interest from a variety of investors due to its strong occupancy history as a well-positioned regional shopping center,” says Andrew Margulies, senior vice president of investments. “The property has performed well despite today’s challenge of having Big Lots as an anchor tenant, and the buyer received a risk-adjusted return.”

Margulies, Harrison Creason, and Harrison Jones, investment specialists in Marcus & Millichap’s Raleigh office, had the exclusive listing to market the property on behalf of the seller, a North Carolina-based investor. The buyer was a North Carolina-based family office, procured by Bold Commercial Real Estate.

Berkeley Plaza, located at 1312 Parkway Drive, contains three parcels totaling 9.14 acres.

The shopping center is fully occupied and anchored by major retailers including Big Lot’s, Gold’s Gym, Staples, Books-A-Million, AT&T and US Armed Forces. The property is adjacent to Sam’s Club, and is within three miles of Seymour Johnson Airforce Base, Wayne UNC Healthcare and Wayne Community College.