MK Capital Buys Garden Grove Retail Building for $5M
El Segundo, CA-based commercial real estate brokerage firm Beta Agency has completed the sale of a former Rite Aid in Garden Grove, CA. MK Capital Partners GG, LLC purchased the building from an LA-based private family trust for $5.33 million. The property consists of the former 27,650-square-foot Rite Aid store and a sublease to a local medical office in a portion of the asset.
“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 to backfill the building,” said Beta Agency’s Adam Friedlander who represented both parties in the transaction, along with the firm’s Richard Rizika.
Located at 12491 Valley View Street, the property is situated north of the Interstate 405 and Freeway 22 interchange, and just 5 miles east of Cal State University Long Beach.
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