Strong Buyer Demand Drives Sale of Rite Aid Ground Lease Sale in New Jersey
Calkain Companies’ Stan Wyrwicz and Mike O’Mara
represented the seller in the sale of a Rite Aid Pharmacy ground lease in
Vineland, NJ. The site houses a 14,600+/- SF building that are net leased to
Rite Aid, which has been operating a pharmacy at that location since 2008.
Wyrwicz commented, “We are seeing a strong demand from buyers looking for Rite
Aid ground leases and pharmacies, which are a rare commodity. Cap rates on Rite
Aid transactions have compressed quite a bit in the last year as a result of the
continued progress in its financial turnaround.” The buyer was a private local
investor. Jack A. Sattin of Market Development Group, LLC represented the
buyer.
NOT SITE PHOTO
Calkain Companies is a boutique commercial real
estate brokerage firm which specializes in assisting buyers and sellers with
single and multi-tenant retail, industrial, hotel and office net leased
transactions. While licensed to conduct business in many states, Calkain has
multiple office locations throughout the Mid-Atlantic, Southeast, Northeast and
Midwest. Additional information about the firm and listings may be found at www.calkain.com.
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