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Retailing in the digital age transformed itself to compete with the likes of Amazon, but as a result, this industry is better prepared to perform during the current health crisis without even realizing it.
The California buyer was in a 1031 exchange looking for a solid national tenant, triple net lease with 7%-plus return, so a Hoquiam, WA Rite Aid property was the perfect fit for the out-of-state purchaser.
Modell's Sporting Goods has 137 leases up for grabs as the retailer has just recently filed for Chapter 11 bankruptcy and liquidation and has tapped A&G Real Estate Partners to begin marketing them.
"During these uncertain times that impact all of us in personal ways, our ability to support each other, our people and our communities will ensure we emerge from this crisis stronger than before," says Joe Erlinger, president of McDonald's USA.