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January 17, 2008

New England Tech to acquire Brooks-Eckerd building

The Brooks-Eckerd building, under contruction in 2006.
Journal photo / Bob Thayer

New England Institute of Technology said today that is has entered into an agreement with Rite Aid Corp. to acquire a 25-acre property on the former Rocky Hill Fairgrounds and a 285,000-square-foot building once intended to house the Brooks-Eckerd corporate headquarters.

“In a surprising and unanticipated development just before Christmas, we renewed discussions with Rite Aid regarding the sale of the former Brooks building," said Richard Gouse, New England Tech's president. "Rite Aid reconsidered an offer from the college and a purchase-and-sale agreement has been negotiated and was signed today.”

Terms of the deal were not disclosed.

Last July, the college announced a long-term plan to move from its present location on Post Road in Warwick to a new 200-acre campus in East Greenwich.

“We are extremely excited about this new development and have asked our professional campus planners to immediately incorporate this site into our proposed campus plan," Gouse said. "As we have stated from the beginning, we have every intention of working closely with town officials to ensure that our campus development protects the high quality of life enjoyed by East Greenwich residents.”

Residents of a nearby condominium have complained about the proposed campus.

Brooks-Eckerd never occupied the building because the drugstore company was acquired by rival Rite Aid Corp.

-- Journal staff writer Paul Grimaldi

Posted by Benjamin N. Gedan  at 1:27 PM | Permalink

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