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Former Rite Aid Property in Ocean Beach Sold for $12.6 Million — New Owner Could Build High-Density Mixed-Use Project
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Former Rite Aid Property in Ocean Beach Sold for $12.6 Million — New Owner Could Build High-Density Mixed-Use Project
The former Rite Aid property in Ocean Beach has been sold for a cool $12.6 Millions. The 1.66 acre site at 4840 Niagara Avenue has been a tempting plum to pluck for months since Rite Aid closed and now it has happened. The retail building -- which used to be a Mayfair market before Rite Aid -- is 20,155-square-feet. One of the largest commercial real estate and investment firms in the country -- if not the world -- CBRE -- facilitated the sale,…
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