Charterhouse Development Corporation, a commercial real estate development and investment company based in the Boston, Massachusetts area, prominent and at the forefront in its use of commercial real estate data analytics and technology, has announced its purchase of a Rite Aid pharmacy in Saco, Maine on August 8th, 2017. Located at 461 Maine St., the pharmacy is 11,180 square feet. This acquisition was sourced and negotiated by John Gendron of Gendron Commercial Brokers in Portland, ME, and was acquired by an entity operated by Charterhouse Development from Spirit RA Saco, ME LLC for $3,054,000. 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 Development Corporation.
Saco is a community of around 20,000 in York County, Maine. The town is home to various tourist attractions such as Ferry Beach State Park and Funtown Splashtown USA, and is located in close proximity to Old Orchard Beach.
“This acquisition by Charterhouse Development is right on target for our company,” said Brandt Sharrock, Vice President at Charterhouse Development. “We are in a phase of exciting growth, and this strategic asset fits our portfolio perfectly.”
About Charterhouse Development Corporation:
Charterhouse Development Corp. is a commercial real estate development and investment company based in the Boston, Massachusetts 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.
