Institutional Property Advisors brokers $23.1 M sale of The Gateway at Lake Martin shopping center in Alabama

Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the $23.1 million sale of The Gateway at Lake Martin, a 93,352‑square‑foot, grocery‑anchored shopping center in Alexander City, Alabama. Built in 2024 on a 22‑acre site at the intersection of U.S. Highway 280 and Alabama Highway 63, the center hosts tenants such as Publix, Marshalls, Starbucks, Rack Room Shoes and Five Below. The seller, a developer of Publix‑anchored centers, was represented by IPA’s Zach Taylor together with Robby Pfeiffer and Eric Abbott of Marcus & Millichap. The buyer, operating as Calhoun Shores LLC, secured financing arranged by IPA Capital Markets and acquired the property along with a separate grocery store in Naples, Florida, leased to Sprouts Farmers Market. Marcus & Millichap brokers David Weinberg, Jacob Keith, Eddie Greenhalgh and Ryan Nee, along with Scott Sutphin of Jet Properties, facilitated the transaction.