Offerings and Transactions
REF Advisory INC (“REF”) is pleased to announce the sale of a Dover, NH Rite Aid property in an all-cash deal while successfully navigating the tenant's Chapter 11 bankruptcy. Successfully negotiated a Lease Restructuring Amendment with Rite Aid Corporation while in escrow.
- Closed escrow less than 2 weeks after Rite Aid emerged from bankruptcy.
- REF used decades of experience with Rite Aid to assist the buyer and seller throughout the bankruptcy period.
- Purchased for just over $2 Million.
REF Advisory INC is pleased to announce the closing of three primarily vacant parcels in Boise, ID owned by an affiliate:
Total Sale Proceeds >$6,500,000
Total Land Acreage: ~ 4.00 Acres
Total Building SF: ~ 30,000 SF
REF ADVISORY INC is pleased to announce the completion of $259 Million in Sale-Leaseback Transactions for Rite Aid from Jul 2020-Dec 2021, with many more completed in 2023. Included in that amount are large distribution centers in CA and MD totaling 2,375,000 SF and 34 retail stores.
Examples of Previous Transactions
ZIPS CAR WASH IN CORNELIA, GA - ABSOLUTE NNN LEASE (SOLD)
155 Finis Springs Dr: $4,167,000 at 6.00% CAP and 17.75 Yrs Remaining
RITE AID IN MILLVILLE, NJ - ABSOLUTE NNN LEASE (SOLD)
907 N High St: $3,267,000 at 6.25% CAP and 9.4 Yrs Remaining
ZIPS CAR WASH IN SPRINGDALE, AR - ABSOLUTE NNN LEASE(SOLD)
6600 W SUNSET AVE: $4,428,000 at 7.00% CAP and 20 Yrs Remaining
7-ELEVEN in Cape Coral, FL - NN Lease 1031 Exchange
ANDALUSIA BLVD: $5,103,127 at 5.15% CAP
Rite Aid NNN LEASE (SOLD)
Virginia Beach, VA:$3,945,000-8.00% CAP Rate and 6+ Years on Lease
RITE AID IN CHESAPEAKE, VA - NET LEASE (SOLD)
VOLVO PKWY: $1,874,058 at 8.50% CAP and 4.5 Yrs Remaining
SHOPPING CENTER (SOLD)
Mechanicsville, VA:Ideal Location - On Mechanicsville Trpk and Just off I-295
ZIPS CAR WASH NNN - 2 Locations (SOLD)
KNOXVILLE, TN:18+ Years on NNN Lease and1.5% Annual Rent Increases
RITE AID NET LEASED PROPERTY (SOLD)
Richmond (Lakeside), VA #4888- 1 Year Remains on NN Lease
TRACTOR SUPPLY COMPANY (SOLD)
Louisa, VA (Richmond MSA):SOLD 12+ Years Remain on NN Lease with 10% Rent increases Every 5 Years
PATIENT FIRST URGENT CARE PROPERTY (SOLD)
Washington DC MSA:$8,600,000 6.0% Cap Rate -18 Years Remain on NNN Lease
Since our formation in December 1996, REF has closed in excess of $4 BILLION in single net lease transactions which includes approximately $2 BILLION in Rite Aid retail and large distribution centers.
© REF ADVISORY INC 2024
