A new batch of Rite Aid store leases, including multiple locations in Los Angeles and Orange Counties, has been put on the market for sale by A&G Real Estate Partners. These offerings include 191 properties across nine states, with California being home to 34 of them. This move follows Rite Aid’s recent bankruptcy filing in October.
According to Andy Graiser, co-president of New York-based A&G Real Estate Partners, “Rite Aid is actively working with its financial stakeholders to reduce debt and set itself up for future success.” The stores range from 5,000 to 37,154 square feet and are located in various areas such as CBDs (central business districts), strip centers and power centers. Some are also standalone buildings. Additional leases will be marketed by A&G in the near future.
These properties are highly sought after among potential replacement users such as dollar stores, gyms,grocers,specialty discount stores,and fast-growing quick-serve restaurants,” said Mike Matlat,senior managing director at A&G Real Estate Partners.
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