California + Los Angeles + Distressed Assets | November 7, 2023

SoCal Locations Among Rite Aid Leases Up for Sale

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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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