Franklin Street has arranged the $1.67 million sale of a 3,480-square-foot, two-tenant strip center located in Fairburn, Georgia. The property includes a Starbucks and Marco’s Pizza. Bryan Belk and John Tennant of Franklin Street’s Atlanta office represented the seller, Newnan DT, LLC, in the transaction. Skye Rise, LLC purchased the property.
“With two strong national tenants and a desirable location, the property received several offers shortly after going on the market,” Belk said. “Investors were interested in this deal in particular because while single-tenant Starbucks properties are selling at around a 5 percent cap rate, two and three tenant deals are selling at around a 6 percent cap rate.”
The newly constructed building is located at 7920 Senoia Road in Fairburn. Starbucks and Marco’s Pizza opened in September, each with a 10-year lease.
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