NAI Chase Commercial, a real estate brokerage firm based in Birmingham, has sold a vacant 11,000-square-foot former Rite Aid property at the intersection of U.S. Highway 31 and Valleydale Road for $1.85 million. NAI Chase represented the local investors, who sold the property to a real estate developer headquartered in Alabama.
“It took some time and patience to locate the right buyer for this particular asset,” said Randy Thomas of NAI Chase.
Assisting Thomas was Glenn Ponder, director of sales, leasing and development.
Founded in 1985, NAI Chase Commercial has offices in Birmingham and Huntsville and is an Accredited Management Organization, designated by the Institute of Real Estate Management. Its services include office, industrial and retail leasing and sales, commercial development, property management, asset management, facilities management, investment brokerage and construction/renovation.