Newport Beach, CA – The CVS ground lease and underlying 13,085 square foot fee property at 3560 W. Peoria Ave. in Phoenix, Arizona has been sold. The sellers were Red Mountain Asset Fund II, LLC and C & CP Investments, LLC and the buyer was Beach City CVS, LLC.  Mike Abel of Lee & Associates – Newport Beach represented the buyer and Jamie Medress and Mark Ruble of Marcus and Millichap represented the seller in the $3,680,000 sale that closed September 1, 2016.

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