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Canonsburg Rite Aid Sold for $4.9M

Colony Park Co Sells Net Leased Asset
July 18, 2014
Lipnob Media LLC acquired the retail building at 601 W. Pike St. in Canonsburg, PA from Colony Park Company for $4.9 million, or about 354 per square foot.

The single-story, 13,824-square-foot freestanding building was constructed in 2005 in the Washington County submarket. The asset is fully leased by Rite Aid on a triple-net basis with 12 years remaining on the master term.

Mark Taylor and Dean Zang of Marcus & Millichap represented the seller.

Please refer to CoStar COMPS #3066781 for more information on this transaction.
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