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Breaking news! Landmark to sell parking lot

March 25, 2011

Ok, so it’s a slow news day.  You know how Fridays are.  Number two on the newscast is this story-

Landmark is hoping to get some much needed cash (more than a million dollars) by selling a parking lot at its Rehab Hospital in North Smithfield  to CVS.

The pharmaceutical giant plans to use the lot for one of its retail stores across the street.  It’s a pretty sweet deal- folks at the Rehab Hospital can still use the parking lot AND if Landmark wants the lot back  within a year, the hospital can buy it for less than it sold it for.

I’m not sure what CVS gets out of this deal.  The company hasn’t returned my calls.  Landmark’s spokesman Bill Fischer says he doesn’t want to speak for CVS, but he suggests the company might just see the value in helping Landmark survive.

Of course, Landmark needs court approval before the sale can be official.

If you want more details, check out the legal request to sell the lot.

In more Landmark related news, the Projo editorial staff thinks Rhode Island doesn’t need the hospital any more.

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