Amongst the various sectors in the net lease world, the pharmacy sector continues to be a reliable and safe area for investors to put their money. Factors such as long-term leases with guarantees from rated companies and multiple options for the tenant to extend their lease all point to why investors are drawn into the pharmacy sector. …
Walgreens announced it would shutter hundreds of drugstores across the U.S. to curb costs. Experts on the net lease market weighed in on what the pharmacy giant’s move could mean for landlords.…
The pharmacy sector has remained attractive to net lease investors because it offers assets with long-term leases, backed by financially strong companies, in an industry that people will rely on for years to come.…
MANATEE COUNTY — Walgreens Boots Alliance Inc. has bought the store in Ellenton it has occupied since 2001 for $4.95 million.
Deerfield, Illinois-based Walgreens, the second-largest pharmacy chain in the U.S., acquired the nearly two-acre property at 5945 U.S. 301 last month, court records show.…
Ft. Lauderdale, FL – Calkain Companies LLC, a boutique STNL brokerage firm, has recently closed on three net leased pharmacy assets. Patrick Nutt, Calkain’s Managing Partner, represented the seller in each of the transactions and achieved cap rates at a significant premium to the national average for pharmacy sector deals in the past 12 months. …
Rite Aid has been an interesting tenant to follow over the last few years. Walgreens and Rite Aid entered into a merger agreement in October of 2015 before terminating the agreement in June of 2017 over mounting doubt the FTC would approve the action. Walgreens and Rite Aid announced a replacement to the deal whereby Walgreens would acquire 2,186 stores from Rite Aid for $5.175 billion. In September, this was amended to 1,932 locations at $4.375 billion. The agreement closed this past …
From a property investment perspective, uncertainty still exists about Rite Aid’s future but NNN leased Rite Aid stores are often situated on high-demand corners, without much direct competition.…
Where there’s a Rite Aid pharmacy in West Virginia, chances are, there’s a Walgreens pharmacy not too far away.…
Herndon, VA – Andrew Fallon, Calkain’s Executive Managing Director, has been retained to sell the Clinton Gardens retail development comprised of four net lease assets which were originally developed in 2008 as a 38,222 SF shopping center on 6.4 acres. The portfolio is strategically located off Branch Avenue/Route 5, just outside of Washington, DC, with close proximity to Andrews Air Force Base. This unique offering of four single tenant net leased buildings can be acquired collectively or as individual assets.…
Walgreens had entered into an agreement to acquire Rite aid in October 2015. The agreement was stalled while both companies waited for approval from the Federal Trade Commission (FTC). In December 2016, divestiture of many Rite Aid locations to Fred’s, Inc was announced. This was intended as an appeasement in order to get the FTC’s approval.
Walgreens and Rite Aid made the decision to scrap the merger after receiving feedback from the FTC leading them to believe the merger was not going to be approved. They have announced a new agreement, Walgreens will purchase 2,186 stores, three distribution centers, and …
