April 20, 2022 – Bob Horvath, Todd Tremblay and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Rite Aid in Pottsville, Pennsylvania. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,805,755.
Rite Aid is located at 500 N Claude A Lord Boulevard in Pottsville, Pennsylvania. Built as a free-standing store in 1995, the Property consists of 10,250 square feet at the signalized intersection of Claude A Lord Boulevard (PA Route 61) and Mill Creek Avenue. Rite Aid demonstrated their commitment to this location and the market by executing a new lease extension. Rite Aid has 10+ years remaining on their Absolute NNN Lease with three (3), 5-year renewal options. The Lease calls for scheduled rent increases at the start of each of their renewal options. The lease is fully guaranteed by Rite Aid Corporation. Rite Aid is well positioned at the signalized intersection of Claude A Lord Boulevard (PA Route 61), the area’s primary commercial corridor and Mill Creek Avenue. The Property is located 500 feet from a Weiss Market anchored center (the area’s primary grocery store), ½-mile from the Fairlane Village Mall, and ¾-miles from a large industrial corridor improved by Yuengling & Son, UPS, Hexcel Corporation, Spector Manufacturing, and numerous other businesses.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.