crefeed.com | Six Midwestern Rite Aids sell for $9.72 million

7/1/2008

Six Midwestern Rite Aids sell for $9.72 million

by
Marcus & Millichap has negotiated the sale of six Rite Aid stores in three states for $9.42 million.

The stores, which are located in Michigan, Ohio and West Virginia, were sold to investor John Tsem. The brokerage firm represented both sides in the transaction, with Simon Jonna and Brandon Hanna of the firm's Detroit, Mich., office representing the seller and Cesar Talavera, a senior associate in the firm's Las Vegas office, representing the buyer.

The stores contain an aggregate 64,405 square feet and sold for $146.26 per square foot. The portfolio contains the following:

- 11,180 square foot building at 1810 Maplewood Ave., Flint, Mich.
- 10,167 square foot building at 102 N. Centerville Rd., Sturgis, Mich.
- 10,167 square foot building at 302 W. Main St., Hartford, Mich.
- 10,363 square foot building at 693 McCartney Rd., Campbell, Ohio
- 10,348 square foot building at 8 Gayle Drive, Berkeley Springs, W.Va.
- 11,180 square foot building at Box 67, Whitesville, W.Va.

Size: 64,405 square feet

Filed Under: Retail

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