FLORENCE, S.C. — The former Rite Aid building in Five Points may soon be redeveloped.
Florence County property tax records indicate that the property upon which the building stands was sold on May 1 to Claret LLC by the estate of Stephen Clyburn West for $1.7 million.
According to the deed, which was registered with Florence County Clerk of Court's office on April 27, Claret LLC is a North Carolina limited liability company registered to Ralph Falls III.
A subsequent Google search and a LinkedIn profile indicate that Falls is a partner with Pace Commercial LLC, a Charlotte real estate brokerage company.
A newspaper article about the redevelopment of a property formerly owned by the North Carolina Department of Transportation indicates that Pace Commercial has been involved in the construction of office condos, luxury apartments and food retail establishments such as Caribou Coffee, Dunkin Donuts, Chicken Out, Dean & DeLuca, Logan’s Roadhouse, Bruegger’s Bagels and Chili’s.
The building located on the site previously served as Rite Aid pharmacy.
Nearly 2,000 of the company's locations were purchased by Walgreens in 2018. Walgreens elected to close over 600 of the Rite Aid locations that were within a mile of an existing Walgreens location.
The Walgreens — located at the corner of Second Loop Road and South Cashua Drive — nearest to the former Rite Aid location is 1.1 miles away according to a Google search.