NEW YORK – A&G Real Estate Partners is now seeking offers for a mix of Walgreens store leases and fee-owned properties nationwide.
The prime retail locations in high-traffic shopping corridors are available for direct lease, sublease or sale. "A&G can engage with landlords on behalf of interested parties on leased locations where a direct lease is preferrable to a sublease," noted A&G Co-President Emilio Amendola.
The offering for the nation's second-largest pharmacy chain features:
- Existing leaseholds for 60 retail freestanding, central business district, end cap and inline locations across 22 states.
- Eight fee-owned, freestanding former Walgreens stores in Arizona, Kentucky, Louisiana, Ohio, Pennsylvania, Virginia and West Virginia.
- Eight undeveloped fee-owned parcels of land in Arkansas, Arizona, Illinois, Louisiana and Puerto Rico.
- Two fee-owned properties in Connecticut: a 735-square-foot medical co-op space and an undeveloped 21-acre warehouse site.
"Operators in the drugstore sector are in the process of right-sizing their portfolios in response to a shift in business model fundamentals and consumer trends," Amendola said. "As a result, these available locations create strong opportunities for expanding retail chains."
A&G's earlier strategic marketing campaign on behalf of Rite Aid is a case in point.
"We had more than 1,700 interested parties competing for those locations and sold leases to Dollar Tree, Five Below, Burlington, Ross, Ace Hardware and multiple grocery chains," said A&G Principal Joe McKeska. "We also sold 50 fee-owned Rite Aid properties to investors looking to re-tenant or redevelop. We expect a similar level of demand for these desirable Walgreens assets."
The fee owned and leased Walgreens buildings range from 2,070 to 23,509 square feet while the undeveloped fee owned parcels range from .12 to 20.86 acres.
"The land available in this offering is already spurring strong interest among commercial real estate investors and expanding restaurant and retail chains," said A&G Senior Managing Director Mike Matlat. "We anticipate a fast-paced marketing campaign, so interested parties should act now."
The leased stores are located in:
Alabama (1)
Arizona (2)
California (11)
Colorado (1)
Georgia (1)
Hawaii (1)
Indiana (2)
Kentucky (2)
Louisiana (2)
Michigan (2)
Minnesota (1)
Missouri (6)
Mississippi (1)
Nevada (2)
New York (1)
Ohio (6)
Oklahoma (3)
South Carolina (1)
Tennessee (3)
Vermont (1)
Wisconsin (2)
West Virginia (8)
For additional real estate details, including remaining lease terms for individual locations, visit https://agrep.com/walgreens and/or contact Emilio Amendola, (631) 465-9507, emilio@agrep.com, Joe McKeska, (708) 769-5039, jmckeska@agrep.com or Mike Matlat, (631) 465-9508, mike@agrep.com.
