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Rite Aid Sells Four-Property Distribution Portfolio to Pair of Real Estate Investors

Pharmacy Chain Leases Back Three Facilities Used As E-Commerce Fulfillment Centers From Buyers Friedman Real Estate and Taconic Capital
A 407,000-square-foot distribution center located at 5400 Perry Drive in Waterford, Michigan, was one of four industrial properties sold and leased back by Rite Aid from the buyers, a joint venture of Friedman Real Estate and Taconic Capital Advisors. (CoStar)
A 407,000-square-foot distribution center located at 5400 Perry Drive in Waterford, Michigan, was one of four industrial properties sold and leased back by Rite Aid from the buyers, a joint venture of Friedman Real Estate and Taconic Capital Advisors. (CoStar)
By Marchelle Cunningham
CoStar Research
August 8, 2022 | 10:08 P.M.

Rite Aid Corp. sold a 1.23 million-square-foot industrial portfolio in a $46 million deal structured as a sale-leaseback with Michigan-based Friedman Real Estate and joint venture partner Taconic Capital Advisors.

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