Rite Aid promotes Ray Payne to group VP, real estate

CAMP HILL, Pa. — Rite Aid has announced that Ray Payne, VP, real estate West Coast, has been promoted to group VP, real estate. Payne succeeds Karen Smith, who retired last year after more than 35 years with the company.



As group VP of real estate, Payne will be responsible for developing and executing the company’s real estate strategy nationwide, including establishing a pipeline of properties for new and relocated stores. In addition, Payne will oversee the company’s tenant administration program and surplus properties. He will report to David Kelly, Rite Aid’s SVP of store development.



“Convenient store locations play an important role in Rite Aid’s dedication to providing an overall exceptional customer experience,” Kelly stated. “We look forward to benefitting from Ray’s knowledge and real estate expertise in his new role as he and his team work to forward Rite Aid’s real estate strategy.”



In 1982, Payne worked as a staff attorney and then as a personnel manager for Sav-On Drug Stores. His real estate career began in 1986, working for American Stores Properties as a real estate manager. In 1989, Payne joined PayLess Drug Stores as real estate director and was named group VP, real estate in 1992. Payne joined Rite Aid in 1996 as the regional director of real estate and was promoted to VP, real estate West Coast in 2001.