Marcus & Millichap closed the sale of an 11,325-square-foot net-leased Rite Aid pharmacy property in Sandusky, Ohio. Thee asset sold for $2.198 million, 98 percent of its designated list-price.
The sale was a result of a multiple-offer, competitively-bid marketing process.
Erin Patton, Scott Wiles and Craig Fuller, senior managing directors in Marcus & Millichap’s Columbus and Cleveland offices, had the exclusive listing to market the property on behalf of a private, Ohio-based seller. The buyer, a private, Michigan-based limited liability company, was also sourced by Patton, Wiles and Fuller.
Rite Aid is located at 334 W. Perkins Ave. in Sandusky within a heavily trafficked retail corridor featuring myriad neighboring national retailers, offered the buyer approximately six years of remaining lease term at the time of sale.
