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Real estate company, A&G Real Estate Partners has announced plans to sell additional Rite Aid leases.
The latest grouping includes 79 store leases including a few in Pennsylvania that will be made available in private sales, pending approval by the U.S. Bankruptcy Court for the District of New Jersey.
Rite Aid filed for Chapter 11 bankruptcy in October.
Rite Aid news
“In connection with Rite Aid’s financial restructuring process, the Company is working collaboratively with its financial stakeholders to reduce its debt and better position its business for long-term success,” A&G Partners said in a news release. “As part of this process, Rite Aid continues to assess its property portfolio and may close additional stores to optimize its real estate footprint and improve its overall financial performance.”
Rite Aid has more than a dozen leases or fee-owned properties available for purchase in Pennsylvania. All of the leases being marketed by Rite Aid have at least 10 years remaining.
The three newest Rite Aid leases available include:
4934 Second Ave. Pittsburgh – 9,845-square-foot freestanding building3215 5th St. Highway, Mulhelberg Township, Berks County near Reading – 11,148-square-foot store in strip center3260 N. Broad. St., Philadelphia – 11,421-square-foot store
Other leases and fee-based properties available include:
178 Point Plaza, Butler – 10,000-square foot store in strip center429 S. Hanover St., Carlisle – 13,813-square-foot freestanding building with one lane1650 Limeklin Pike, Dresher – 8,640-square-foot freestanding building with two lanes330 Cumberland Parkway, Upper Allen Township – freestanding building with two lanes3000-02 Reed St., Philadelphia – 11,920-square-foot freestanding building6101 N. Broad. St. Philadelphia – 14,735-square-foot freestanding building with two lanes7941 Oxford Ave. Philadelphia – 7,534-square-foot freestanding building810 South Broad. St. Philadelphia – 10,000-square-foot freestanding building136 N. 63rd St., Philadelphia – 7,150-square-foot freestanding (Fee Owned)10 S. Center St., Pottsville – 8,710-square-foot building (fee Owned)Rite Aid also has 112,674-square feet of land at state route 940 and Main St., White Haven (fee owned) that is available.
In addition, Rite Aid has previously announced that these Pennsylvania stores will also close:
(some stores appear on both lists)
623 Smithfield St., Pittsburgh3260 North Broad St., Philadelphia4934 Second Ave., Pittsburgh3215 5th Street Highway, Reading510 Westerly Parkway, State College2121 W. Lehigh Ave., Suite 5, Philadelphia535 Lincoln Ave., Pittsburgh700 Stevenson Blvd., New Kensington351 Brighton Ave., Rochester5235 Library Road, Bethel Park5990 University Boulevard, Suite 30, Moon Township2501 Saw Mill Run, Pittsburgh5410 Keeport Drive, Pittsburgh6090 Route 30, Greensburg4830 William Penn Highway, Export1730 Wilmington Road, New Castle2178 W. Union Blvd., Bethlehem1628 S. 4th St., Allentown2401 E. Venango St., Philadelphia6327-43 Torresdale Ave., Philadelphia200 W. Ridge Ave., Suite 112, Conshohocken301 Eisenhower Drive, Hanover429 South Hanover St., Carlisle (closed on Nov. 27)1927 Atherton St., College Township, Centre County306 Town Center, Route 202, New Britain, Bucks County330 Cumberland Parkway, Upper Allen Township (will close on Dec. 4)
·A Rite Aid store at 3200 Market St. in Camp Hill closed on Aug. 31 and a store at 7036 Wertzville Road in Silver Spring Township closed on Sept. 26. Both stores closed before the company filed for bankruptcy.
· Rite Aid previously announced that the store at 304 Market St., Harrisburg would close but later said it would remain open.
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This article was originally published by a www.pennlive.com . Read the Original article here. .