Galaxy Development /Rite Aid Pharmacy open new 11,186 s/f store
According to Galaxy Development, LLC, the grand opening of the new Rite Aid Pharmacy at the corner of West Main St. and Schofield Ave. was held recently. The new store replaced an older building on West Main St., just a stone's throw from the new site, the former Bayer Motors location. Town officials and many local citizens were on hand to officially open the store on Friday, May 26th.
The new 11,186 s/f store, utilizes Rite Aid's new Customer World prototype. This prototype provides the customer with a direct path from the front door to the pharmacy for customers who visit the store only to pick up a prescription. The store also boasts numerous aisles of many different types of merchandise. Located at the rear of the store is the pharmacy, with a drive-thru prescription pick up. The store also has a photo center which allows customers to make prints of any digital image file in a large assortment of styles and sizes in a comfortable setting.
Financing for the project was provided by Webster Five Cents Savings Bank. Galaxy, owner and developer of the property, was represented by attorney Lawrence Brodeur of Worcester.
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.