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GRAND RAPIDS, MICH. — Marcus & Millichap has brokered the sale of an 11,321-square-foot Rite Aid, located at 4410 S. Division Ave. in Grand Rapids, for $2.2 million, at an 8.72 percent capitalization rate. Rite Aid has 10.5 years remaining on a 20-year, double net lease. The lease includes four 5-year renewal options with 3 to 4 percent increases. The property was acquired by a Grand Rapids-based private investor conducting a 1031 exchange. The seller was also undisclosed.