24 Aug Sale of a Single Tenant, 7,920sf Rite Aid
Secured Properties is pleased to announce the sale of a Single Tenant, 7,920sf Rite Aid in Encino, California by Ryan Yatman. The property included the income from the onsite Clear Channel billboard. Rite Aid failed to exercise their option on their lease and lost the space several months before the sale completed and the buyer plans to open a surgery center on site and renovate the property into a two tenant retail project. The property sold for $4,050,000 in August 2011.