Hanley Investment Group Arranges $9 Million Sale of Rite Aid in California

The 17,185-square-foot Rite Aid was built in 2016, and is located on Newport Road in Menifee, California. The 17,185-square-foot Rite Aid was built in 2016, and is located on Newport Road in Menifee, California.

Menifee, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $9 million sale of a single-tenant, 17,185-square-foot Rite Aid located in Menifee, California.

Kevin Fryman of Hanley represented the seller, Parkcrest Construction Inc. Ron Duong of Marcus & Millichap represented the buyer, an undisclosed private investor. Rite Aid has nearly 20 years remaining on its initial lease term, with increases every 10 years.

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