California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Orange County  + Retail  | 

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.

Connect

Inside The Story

Beta AgencyAdam Friedlander

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition