A second tranche of Rite Aid store leases, including several in Los Angeles and Orange Counties, has been listed for sale by A&G Real Estate Partners. California is home to 34 of the 191 leases and fee-owned properties in the two offerings, which follow Rite Aid’s Chapter 11 bankruptcy filing in October.
“Rite Aid, which operates more than 2,100 retail pharmacy locations across 17 states, is working collaboratively with its financial stakeholders to reduce its debt and position its business for success,” said Andy Graiser, co-president of New York-based A&G.
Spanning 12 states, the stores range from 5,000 to 37,154 square feet. Some are located in CBDs, strip centers and power centers, while others are freestanding. A&G expects to market additional leases in the coming weeks.
“The size ranges of these properties are in high demand among potential replacement users—a list that includes dollar stores, gyms, grocers, specialty discount stores and fast-growing quick-serve restaurants,” said A&G senior managing director Mike Matlat.
Get insight from retail CRE Leaders like Paragon Commercial Group, Co-Founder and Principal, Jim Dillavou. Attend Connect Retail West on November 16 at Luxe Sunset Blvd Hotel.
