Colliers Sells Rite Aid-Occupied Property in Hoquiam, WA
A 17,384-square-foot, stand-alone retail property located in Hoquiam, WA traded hands for roughly $7.5 million. The Lloyd Wells Gift Trust purchased the building at a 7.5% cap rate from Smith Legacy LLC.
Occupied by Rite Aid on a long-term NNN lease, the building is located at 3130 Simpson Ave. at the intersection of Simpson Avenue and Myrtle Street along one of Hoquiam’s primary commercial corridors. This allows for service not just to Hoquiam, but also to the local communities of Aberdeen, Grays Harbor and Cosmopolis. Other nearby retailers include Dollar Tree and Anytime Fitness.
Colliers International’s Reza Ghobadi and Ryan Marn handled the transaction.
Ghobadi notes, “The Simpson Avenue asset represents a stable investment in an established community. Both the buyer and seller achieved their goals in the transaction.”
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