Garden Grove, Calif. – Beta Agency, a leading commercial real estate brokerage and advisory firm, has announced that the firm has completed the sale of a former Rite Aid located at XX 12491 Valley View Street in Garden Grove, California to MK Capital Partners GG, LLC for $5,330,000. The property consists of a former 27,649 SF store in which Rite Aid has vacated as well as well as a sublease to a local medical office in a portion of building.
Beta Agency’s Richard Rizika and Adam Friedlander represented the seller, a private family trust based out of Los Angeles, California. The Buyer, MK Capital Partners GG, LLC based out of Los Angeles, was also represented by Richard Rizika and Adam Friedlander.
“The Buyer acquired the former Rite Aid box because of its excellent real estate fundamentals, strong probability to re-tenant with a credit tenant in the future and provided for three years of cash flow while the Buyer implements his re-positioning plan to backfill the building” said Friedlander. “Through our marketing process and extensive database of investors we were able to generate 17 offers from qualified Buyers.” said Friedlander.
About Beta Agency
Beta Agency is a leading commercial real estate services firm located in El Segundo, California. Beta’s investment advisory service utilizes proprietary analytics and design services to market commercial real estate. Beta Agency represents over 10 million square feet of commercial property and over 70 brands throughout the Western US.