Charterhouse Development Corp. acquires 11,180 s/f Rite Aid pharmacy in Saco, Maine for $3.054 million

Saco, ME Charterhouse Development Corp., a commercial real estate development and investment company based in the Boston, has purchased a Rite Aid pharmacy. Located at 461 Maine St., the pharmacy is 11,180 s/f. This acquisition was sourced and negotiated by John Gendron of Gendron Commercial Brokers in Portland, and was acquired by an entity operated by Charterhouse Development from Spirit RA Saco, ME LLC for $3.054 million. Rite Aid is a nationally recognized pharmacy chain with over 4,000 locations across the United States.

“We are thrilled to have acquired this prime, centrally located real estate which serves residents of Saco and the surrounding communities,” said Meredith Roy, president of Charterhouse. 

“This acquisition by Charterhouse Development is right on target for our company,” said Brandt Sharrock, vice president at Charterhouse. “We are in a phase of exciting growth, and this strategic asset fits our portfolio perfectly.” 

Charterhouse Development Corp. is a commercial real estate development and investment company based in the Boston area. Founded in 1983, Charterhouse Development’s partners have over 60 years of cumulative commercial real estate experience in industrial, office, and retail development, with a focus on pharmacy and grocery, where the firm owns and manages all properties. Charterhouse is also prominent and at forefront in its use of commercial real estate data analytics and technology. Currently, the firm’s work is focused in Southwest Florida, the Mid-Atlantic, and the Northeastern United States. For the last ten years Charterhouse Development has focused on acquiring and redeveloping neighborhood shopping centers in the Northeast, as well as developing free-standing retail.