Former Lacey Rite Aid Sold

LACEY, NJ — TFE Properties has acquired two former Rite Aid properties in Ocean County, including one in Manchester Township and one in Lacey Township, according to a press release. The company said both vacant retail sites are in commercial corridors and are being targeted for redevelopment and leasing.

The Lacey Township property is a vacant 10,908-square-foot former Rite Aid on about 1.76 acres at the corner of Route 9 and South Main Street. TFE Properties said the site sits at a signalized intersection in one of the township’s primary retail corridors, with about 26,000 vehicles per day. According to the announcement, the property is zoned Commercial C-150, a designation the company said allows a wide range of retail and commercial uses.

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“These acquisitions represent another step in TFE Properties’ continued investment strategy focused on well-located retail assets with strong redevelopment and repositioning opportunities,” Carey Tajfel, president of TFE Properties, said in the announcement. “Both sites are located within growing Ocean County communities and offer excellent frontage, traffic exposure, and long-term value.”

TFE Properties said it plans to actively market both locations to retailers, medical users, service-oriented businesses and other potential tenants seeking high-traffic locations in Ocean County.