28511 DuPont Blvd
Millsboro, DE 19966

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in this Rite Aid (NYSE:RAD) located in Millsboro, Delaware. There are over seven years remaining on the absolute NNN lease with increases in the four, five-year option terms. This location was originally built as an Eckerd in 2004. There is a corporate guarantee from Eckerd Corporation, which is now owned by Rite Aid after the company was acquired in August 2007. Rite Aid is investment grade, rated “B” by Standard & Poor’s. The Property is exceptionally well-located along Route 113 (Dupont Boulevard), one of three major north-south highways in Sussex County which connects Selbyville to Milford. The Property is positioned at its intersection with Washington Street/Laurel Road, which continues 10-miles northeast to Long Neck, an area booming with new home development. The Tenant, Rite Aid, occupies an 10,908 square-foot store across the street from a high-performing Wawa location and in proximity to numerous national retailers. Notably, Peninsula Crossing Shopping Center, which is the premier shopping destination in Millsboro and its surrounding communities is located just one mile south. Built in 2008, Peninsula Crossing is a 304,503 square-foot power center anchored BJ’s Wholesale and Lowe’s. The Tenant has exceptional visibility to over 30,000 vehicles per day and benefits from simple means of ingress/egress. There is a Walgreens located across the street though it should be noted that CVS does not have a store in the marketplace. Millsboro is growing resort destination in close proximity, 15-20 miles, to the Delaware Resort Beaches (Lewes, Rehoboth Beach, Dewey, Bethany, Fenwick). It has experienced significant retail growth as of late represented by the national retailer presence in the immediate area of the subject property. Additionally, while not reflected in the demographics, many retirees and second home owners have elected to purchase in the area for its affordable cost of living and low tax rates with proximity to the Beach.