A new batch of Rite Aid store leases, including multiple locations in Los Angeles and Orange Counties, has been put on the market by A&G Real Estate Partners. These offerings come after Rite Aid’s Chapter 11 bankruptcy filing in October and include a total of 191 leases and fee-owned properties across 17 states.
According to Andy Graiser, co-president of New York-based A&G, Rite Aid is actively working with its financial stakeholders to reduce debt and set itself up for future success. The stores being sold range from 5,000 to 37,154 square feet and are located in various areas such as CBDs, strip centers,and power centers. Additional leases are expected to be marketed by A&G in the near future.
Mike Matlat,senior managing director at A&G,stated that these property sizes are highly sought-after among potential replacement users such as dollar stores,gyms,grocers,specialty discount stores,and fast-growing quick-serve restaurants.
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