Former Rite Aid

Investment Overview

Newmark Capital Markets is pleased to present the opportunity to acquire a one of a kind Trophy Asset, on the market for the first time in over 50 years. The subject property contains an 18,390 SF free standing former Rite Aid located at the one of the busiest intersections in Los Angeles, at the corner of Overland Avenue and Venice Boulevard, in the heart of Culver City, CA . The subject property is shadow anchored by Culver Center, a 240,000 SF Power Center, featuring Best Buy, Ralph’s, LA Fitness among several shop spaces. Culver Center has historically seen very low vacancy rates. The building is 100% vacant, which provides a rare opportunity for an owner/user or investor looking to purchase a trophy asset in the prestigious Culver City/West LA market. With continuing strong demand on the retail leasing front as well as few AAA opportunities in the immediate area, this location and building will be sought after from numerous retailers looking to establish a strong presence in Culver City.

Investment Highlights

• Freestanding Building with excellent street front presence
• Strategically located with easy access to both I-405 & I-10
• Shadow Anchored by Best Buy, Ralph’s & LA Fitness
• Rite Aid sales ranked in top 20 stores nationally
• Strong Demographics with ± $144,384 HHI within 2 miles
• Traffic Counts: 67,458 VPD Venice Blvd, 36,877 VPD Overland Ave.