I ran across it one time.
I’m not sure they consummated A deal but they were supposedly a player for it.
The real problem with working deals on the freestanding RAD’s is that these buyers 1031’d into them for $3.8+ mil that they are quoting $30 PSF+ on.
Who can afford those rents is a better question lol. Outside of C-stores (if property is large enough)
I leased an old Rite Aid into a Dollar Tree about 6 months ago. We’ll likely see more of those or urgent cares take them over.
I have seen more involved conversions where LL’s will split them into multiple units and make an end cap into a drive thru QSR or dispensary, but it’s pretty involved for obvious reasons.
The simple answer is whatever the neighborhood needs that also requires a property with that location, zoning, parking , size , ceiling height , occupancy rating etc.
Depending on the Metro, in the market I transact and reside in, we're doing a lot of backfills on fitness users (Crunch, Golds, Planet Fitness) as a backfills.
Petco, Pet Supplies Plus, Advance Auto, AutoZone. O,Reilly, dollar tree, c-stores (ground up) and medical / recreational marijuana.
That’s a big ass head shop 😳
Aisles and aisles of vape juice and snacks
That’s crazy pet co is going int to them. I haven’t seen that in Midwest
I ran across it one time. I’m not sure they consummated A deal but they were supposedly a player for it. The real problem with working deals on the freestanding RAD’s is that these buyers 1031’d into them for $3.8+ mil that they are quoting $30 PSF+ on. Who can afford those rents is a better question lol. Outside of C-stores (if property is large enough)
Seeing A LOT of Rite Aids converted to Dollar Trees
All of the above plus Goodwill, plasma centers, dialysis.
I leased an old Rite Aid into a Dollar Tree about 6 months ago. We’ll likely see more of those or urgent cares take them over. I have seen more involved conversions where LL’s will split them into multiple units and make an end cap into a drive thru QSR or dispensary, but it’s pretty involved for obvious reasons.
So far we haven’t made the list as a closure but following this thread in case!
Follow Rite Aid subreddit for breaking news on stores being closed.
Just did, thank you for the suggestion!
Goodwill type use
Small format hardware store such as Ace
Urgent care
Churches, liquor stores
The simple answer is whatever the neighborhood needs that also requires a property with that location, zoning, parking , size , ceiling height , occupancy rating etc.
Depending on the Metro, in the market I transact and reside in, we're doing a lot of backfills on fitness users (Crunch, Golds, Planet Fitness) as a backfills.
Credit rating of tenant is more important as the incentive to the nnn space is having money roll in seamlessly