VIRGINIA BEACH, VA - The national trend for discount drug stores is moving away from inline space locations into freestanding big-box sites. Consumers are becoming more accustomed to Rite Aid's new look, stand-alone buildings with accessible parking and drive-thru pharmacies. As a result of this trend, Rite Aid Corporation needed to dispose of numerous surplus inline stores throughout the country and looked to Divaris Real Estate for help.

In early June, leasing agents in Divaris Real Estate's Richmond, Virginia, office, were asked by Rite Aid to represent them in ground-leasing/subleasing and the sale of surplus properties in central Virginia and on the southside of Hampton Roads. 

Carol Melatti and Anne Millar, leasing agents for Divaris' Virginia Beach office, took control of the surplus Rite Aid locations on the southside. Thus far, Divaris is helping Rite Aid dispose of four Virginia Beach stores along with the sales of Rite Aid-owned land.

DRE's Richmond office is marketing four surplus stores, and two have recently been leased. All range from 9,100-10,500 square feet. Currently, Divaris is negotiating two leases for space in The Crossing Shopping Center in Hopewell, Virginia, and one in Oxbridge Square Shopping Center on Hull Street in Richmond. Both locations are close to major retail activity and will provide Rite Aid with sound tenancy for the remainder of each leasing term. 

The hands-on approach used by Divaris has helped it find tenants and buyers for this surplus real estate. Its creativity, hard work and energy distinguishes Divaris from the traditional listing/advertising and wait-and-see approach of its competitors.