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Seattle & Northwest  + Seattle  + Retail  |  January 23, 2023
Renton Rite Aid-Leased Retail Property Trades for $7.6M. Leibsohn Vara Group of Marcus & Millichap Arranges Deal
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By: Mark Nieto

Renton Rite Aid-Leased Retail Property Trades for $7.6M

The Leibsohn Vara Group of the Marcus & Millichap commercial real estate brokerage firm, has arranged the $7.59 million sale of a single tenant investment property in Renton, WA. The building is leased to Rite Aid Corporation and was purchased by a locally-based family investment group.

Brian Leibsohn and RJ Vara, commercial investment specialists of the Leibsohn Vara Group secured and represented the buyer, according to Joel Deis, the Regional Manager of Marcus & Millichap’s Seattle office.

Located on 1.6 acres at 17615 140th Ave. SE, the 16,000-square-foot freestanding Rite Aid building was built in 2006. It is situated near the intersection of SE Petrovitsky Road in a residential area amidst several other retail properties including Safeway, LA Fitness, Big Lots, Panda Express and McDonalds.

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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.

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