Charlotte, NC — August 5, 2019 — Percival Partners, a full-service commercial real estate brokerage firm and part of the SVN® brand, recently represented Caldwell Community College and Technical Institute (CCTI) in their purchase of a former Rite Aid at 3040 Hickory Blvd in Hudson, NC. CCTI intends to redevelop the former drug store building into a new building for additional classrooms for its campus.
Tom Auer, Advisor for SVN Percival Partners represented CCTI in the $1.35 million transaction. The building had been vacant due to the recent Walgreen Company merger with Rite Aid and the influx of property inventory. This location was one of the 750 Rite Aid locations that Walgreen Company had decided to not re-open as a Walgreens. Auer worked with several representatives of CCTI over the past few months to locate the appropriate property for their growth efforts and negotiate the deal on their behalf. “This location is in an ideal proximity to the campus, so for CCTI to acquire this property and redevelop it for classrooms is a smart move. I enjoyed working with the leadership from CCTI and I look forward to continuing our relationship to further their growth plans”, says Auer.