Vacant Rite Aid buildings tower over Sacramento street corners. Map shows what could be next
Struggling retail pharmacy chains have spent the past few years closing locations across the country, leaving vacant storefronts scattered across the Sacramento region.
Some of the sites remain empty, fenced off and stripped of corporate signage. But in other cases, developers and businesses are moving to build new retail and housing.
A Cleveland-based architecture firm submitted a proposal to convert a former Rite Aid in the Arden Creek Town Center into a gym. Grocery Outlet submitted plans to reformat a vacant, former Rite Aid at 5409 Sunrise Boulevard in Citrus Heights, said city communications officer Marisa Brown. The company also requested county permission to renovate a former pharmacy at 1309 Fulton Avenue.
A local architecture firm submitted plans to build a three-story apartment building at a former Rite Aid in midtown — 2211 F Street — with a mix of studio and one-bedroom units, with retail on the ground floor.
Many of the vacancies came about amid Rite Aid’s bankruptcy. The company entered Chapter 11 proceedings in late 2023 citing inflation, declining reimbursement rates from insurers and competition from larger players like CVS and Walgreens. The chain was also defending itself in more than 1,600 opioid-related lawsuits, according to court filings, and revenues were sapped by declining demand for merchandise and COVID-19 vaccines.
The company took steps to decrease its footprint. It closed hundreds of underperforming stores and entered sale-leaseback deals at dozens more. Still, before it filed for bankruptcy Rite Aid was stuck paying $80 million in annual “dead rent” for locations it had already closed, and around $200 million in interest payments on its debt.
Other retail pharmacy chains are making similar moves. In October Walgreens Boots Alliance announced plans to close 1,200 stores over the next three years. The following month, CVS CEO David Joyner said the company was on track to close 900 stores in a three-year period, and planned to close an additional 270 stores in 2025.
Walgreens closed four stores across the region last year, and has disclosed plans to shutter two more, at 1401 Broadway and 7155 24th St. CVS recently closed a store in the Arden Watt Marketplace, and a location inside Target’s midtown store.
This story was originally published January 31, 2025 at 10:14 AM.
