New leases for several former Rite Aid drugstores in Baton Rouge could be negotiated in the next 30 to 60 days, says Dottie Tarleton of Stirling Properties, who’s working to find tenants to take over existing leases.
Tarleton, representing Walgreen’s in Louisiana, says she’s received interest from a number of potential tenants including medical offices, grocery stores and high-end retailers.
The locations that have received the most interest are Jefferson Highway and Corporate Boulevard, Siegen Lane and Perkins Road, and Government Street and S. Acadian Thruway. Most of the Rite Aid stores in the Baton Rouge area closed over the summer.
Most of the stores have existing leases with different lifespans—some for a few months and others a few years—which Walgreen’s inherited when it completed its $4.4 billion acquisition of more than 1,900 Rite Aid locations around the nation in May.
Tarleton says she’s trying to work with interested tenants and the landowners to get Walgreens to buyout the remaining time on the leases.
