Rite Aid
$3,500,000
Single Tenant Retail
Lakewood, CA
Cap Rate: 5.10%
Drugstores are popular investments due to their stability and the strength of their corporate parents. We took this Rite Aid to market during a time where there were rumors of Rite Aid merging with Walgreens. This property is located on a busy intersection in Lakewood (Los Angeles County) in a shopping center anchored by Vons grocery store.
- Challenging property with 5 years on current term and 40 years of options with no rent increases
- Generated multiple offers
- Procured a cash offer with a quick close
