FRANKLIN, N.C. — Taylor McMinn Retail Group, an Atlanta-based retail investment sales team within Marcus & Millichap, has brokered the sale of a newly constructed, single-tenant retail property located at 1352 Siler Road in Franklin. Starbucks Coffee occupies the building — which totals 2,500 square feet — on a 10-year corporate lease with rent increases. The Starbucks is shadow-anchored by the closest Walmart store to Highlands, a popular vacation destination in western North Carolina.
Don McMinn of Taylor McMinn Retail represented the seller, a Georgia-based developer, in the all-cash, 1031 exchange. The out-of-state buyer and the sales price were not disclosed.
“You can’t overemphasize the impact that price point has on pricing in today’s market,” says McMinn. “In some cases, price point is more critical than credit compared to where deals are trading and when.”