SPARTA, Mich. — A former Rite Aid pharmacy in Sparta is getting new life as an O'Reilly Auto Parts store after being purchased for $1.2 million.
The 8,000-square-foot building on Division Street was one of more than 150 Rite Aid locations that closed across Michigan last year.
" I think we were pretty fortunate compared to other towns," said Jim Lower, Sparta Village Manager. "In Sparta, we've been fortunate. We have a very, you know, pro-business model for our downtown and our zoning and our regulations. So usually, ours don't stay vacant very long, at least in the last five years. They turn over pretty quickly."
Mark Ansara, partner and senior vice president at Advantage Commercial Real Estate, who brokered the deal, said the Sparta location attracted significant interest.
"We had multiple people look at that, because it's a small market. It's 8000 square feet, so I think we had three or four letters of intent to buy," Ansara said.
The property's size made it attractive to potential buyers, according to Ansara.
"The average Rite Aid was 10 to 11,000 square feet. There are about eight. That's more usable and more workable for some of these national retailers."
Many former Rite Aid buildings across the state remain empty.
"Maybe a third to half are still vacant, if not more than that. We've got six or seven in our inventory that we have for sale or lease here in West Michigan," Ansara noted.
Lower expressed surprise at the building's new tenant, given the local market.
"I was a little surprised in that we do have a lot of other auto care, you know, auto parts stores in town. But, you know, there's, there's must be a good market for it."
When O'Reilly Auto Parts opens, it will become the sixth auto parts store in the village, with one competitor located directly across the street.
"You hate to see vacant buildings in the downtown area or anywhere in town, for that matter," Lower said.
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