Rite Aid Corporation is a healthcare company that operates a retail drugstore chain. On September 9, 2024 Rite Aid emerged from Bankruptcy and successfully completed its financial restructuring by cutting about $2 billion worth of debt and added $2.5 billion in exit financing. Part of the restructuring included the shutdown of underperforming stores while keeping open those that were profitable. Many of the locations that were kept open had to renegotiate existing leases and amend the rent and terms. The subject Rite Aid is one of the fortunate locations that were kept open and benefitted from an amended lease.

The property is strategically situated at a traffic light corner and near other national and regional tenants. More importantly this Rite Aid is less than a mile from the UPMC Horizon Greenville which is a world renowned health care provider and insurer. Based out of Pittsburgh, PA, UPMC has more than 40 Hospitals and 800 doctors offices and outpatient centers across Pennsylvania, Maryland, and New York.

If you are a high yield investor who appreciates a low price per square foot upon acquiring a property then please look further into this opportunity. Everyone’s question is: what do I do if they vacate? The answer is you reposition the property knowing you have an 11,200 SF building, close to 1.5 acres of property, at an irreplaceable basis of approximately $150 psf. Based on my research I don’t see many leasing opportunities on Main Street but the one 6,000 sf available I do see has an asking rental rate of $16-$20 psf. The seller is highly motivated, lets make a deal!

Please give us a call for the full Offering Memorandum