BrokerageRetail

Retail Shopping Center Sells in Lafayette

Starbucks Shops at Lafayette, a retail investment property located at 1137 Diamond Circle in Lafayette, has sold for $5.6 million.

Austin Snedden, associate, Ryan Bowlby, first vice president of investments, and Drew Isaac, senior vice president of investments, of Marcus & Millichap (NYSE: MMI), exclusively marketed the asset on behalf of the seller, a local private partnership.

The property is occupied by Starbucks, Verizon, Batteries Plus Bulbs, and Mod Pizza.  The 9,024-square-foot retail building was constructed in 2017 on a 1.59-acre lot.

“Starbucks anchored retail centers with a drive-thru continue to be in high-demand as investors navigate through unprecedented times. The high-quality construction, strong tenancy, and strategic location along Highway 287 attracted both local and national interest,” Snedden said.

Photo courtesy of Marcus & Millichap

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