First National Realty Partners has paid $23.5 million for High Point Harris Teeter Center, a 192,548-square-foot shopping center located in High Point, N.C. The property is anchored by Harris Teeter, TJ Maxx, Ross and Staples.
“The very positive market response I experienced demonstrates that demand exists for properties that are anticipated to have economic staying power, despite current concerns caused by the global pandemic,” said Lori Schneider, senior managing director investments in Marcus & Millichap’s Fort Lauderdale, Fla., office, which announced the sale. “Retail property is highly scrutinized, but investors are active. Execution of the transaction was reminiscent of pre-pandemic assignments, even though sales of comparable $20 million-plus power/grocery-anchored shopping centers are less than half of their previous levels.”
Schneider represented the seller, a private investor, and procured the buyer.
Schneider said: “Appropriately posi
