Developer eyes long-vacant Rite Aid in Flemington. Here's what's planned
FLEMINGTON – A bank and a financial training facility may be occupying the vacant Rite Aid building at the corner of Route 31 and Church Street.
Flemington Realty Partners LLC, of East Windsor, has submitted an application to the Planning Board to convert the 11,348-square-foot building, without a permanent tenant for five years, owned by Royce-George & Associates, of West Roxbury, Massachusetts.
The bank would occupy 4,700 square feet and the training facility would occupy the remainder of the building.
The plan also calls for a drive-up ATM.
The name of the bank was not included in the documents submitted to the borough in July.
While the application package for the project included an office layout for the bank portion of the building, no plans were submitted for the training facility.
No date for the Planning Board hearing has been scheduled.
The building has been vacant since Rite Aid closed in the summer of 2018. The location was across Church Street from Walgreens.
Local: Flemington sued over recreational marijuana license
In March, the federal Department of Justice filed suit against Rite Aid for allegedly filling hundreds of thousands of prescriptions for controlled substances that had “obvious red flags” amid the country’s opioid epidemic.
The Wall Street Journal reported Friday that Rite Aid is preparing to file for bankruptcy to address lawsuits the company is facing over its alleged role in the sale of opioids.
Rite Aid's stock has fallen 90% in a year to 75 cents per share as of Monday afternoon. The stock had reached a high of 26.20 at the start of 2021.
Email: mdeak@mycentraljersey.com
Mike Deak is a reporter for mycentraljersey.com. To get unlimited access to his articles on Somerset and Hunterdon counties, please subscribe or activate your digital account today.
This article originally appeared on MyCentralJersey.com: Rite Aid in Flemington NJ eyed for redevelopment
