PHOENIXVILLE, PA. — Marcus & Millichap has brokered the sale of an 11,180-square-foot Rite Aid, located at the intersection of Nutt and Kimberton roads in Phoenixville, for $5.55 million. The property, which was constructed over the summer, contains the pharmacy’s new prototype store. Two nearby Rite Aid locations were closed and folded into the new store. Rite Aid is occupying the property on a 20-year, double-net lease. Matthew Gorman and Thomas Gorman of Marcus & Millichap’s Philadelphia office represented the seller, a developer based in central New Jersey. The buyer, a local investor participating in a 1031 exchange, was represented by Christopher Munley, Dean Zang and Mark Taylor, also of Marcus & Millichap’s Philadelphia office. The property traded at a 7.9 percent capitalization rate.
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