Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Shoppes of Crabapple, a 8,363-square foot retail property located in Alpharetta, GA, according to Michael J. Fasano, First Vice President of the firm’s Atlanta office. The asset sold for $3,800,000 or $454 per square foot.

Marc Irvin, First Vice President in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, an Arizona family trust. The buyer, a family partnership based in New Jersey, was also procured by Marc Irvin.

“Our marketing process generated over 26 offers, including several offers above asking price. The market response was tremendous. Within three weeks we were able to select from a multitude of qualified buyers. With the right representation, it proves that private capital is still aggressively searching and paying for quality multi-tenant retail assets,” says Irvin.

Shoppes of Crabapple is located at 12330 Crabapple Rd in Alpharetta, GA.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com