SRS Directs $6M Sale of Rite Aid-Occupied Asset in Kingston, Washington

KINGSTON, WASH. — SRS Real Estate Partners has negotiated the sale of a single-tenant retail property, located at 27000 Miller Bay Road NE in Kingston. A U.S.-based investment fund sold the asset to a California-based family office for $6 million.

Built in 2007 on 2.2 acres, the 17,272-square-foot building includes a drive-thru. Rite Aid currently occupies the property under a corporate-guaranteed triple-net lease with Rite Aid Corp. There are nine years remaining on the lease.

Ryan Tomkins of SRS’ National Net Lease Group represented the seller in the transaction.