Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Shoppes of Crabapple, a 8,363-square-foot neighborhood retail center with a mix of national and local tenants. The Starbucks-anchored property sold for $4,350,000.

“Shoppes of Crabapple has served as a litmus test for Class A neighborhood retail centers in the Atlanta MSA market. We achieved 7 offers within the first 4 hours of marketing and over 30+ in total. The center achieved a premium cap rate for Starbucks anchored retail centers,” said Marc Irvin, first vice president of investments in the Marcus & Millichap office. “We’ve seen tremendous demand for well-located retail centers that have a drive-through end cap by both investors and tenants alike.”

Irvin had the exclusive listing to market the property on behalf of the seller from New Jersey, and.procured the buyer, a real estate investment trust based in New York.

The retail center is strategically located on the corner of Highway 140 and Highway 372 in the north Atlanta community known as Crabapple. The property is 100% occupied by Starbucks, AT&T, FedEx Office, Brazilian Wax and Spa, Nail Concept, and Yummy Japanese Steak House.

Shoppes of Crabapple is located at 12330 Crabapple Rd in Alpharetta, Georgia. The 2006-build underwent several renovations in 2021, including new HVAC, signage, parking lot resurfacing, roof, and other upgrades.