Tag: Walgreens

What Will Rite Aid Divestitures Mean for Net Lease Investors?

NREIOnline

When a retailer announces that it will sell off about 1,200 stores in order to take its business to the next level, these days the assumption is that the company is struggling to stay afloat and needs to quickly shed excess weight and curb costs.

In Walgreens Boots Alliance’s case, however, the sale of more than 1,000 Rite Aid locations will help the former meet regulatory approvals before completing its planned $7.4 billion merger and expanding its footprint across the United States.

The deal was announced in October 2015, and was recently amended to reflect Walgreens’ plan to sell off …

AmyWhat Will Rite Aid Divestitures Mean for Net Lease Investors?

Calkain Sells Walgreens in Sumter, SC

Atlanta, GA – Calkain Companies’ team of Patrick Nutt, Managing Partner, Sheree Strome and Keelee Peterson, both Associate Directors, have recently sold a property in Sumter, South Carolina occupied by Walgreens (NYSE:WBA) pharmacy. Walgreens occupies this location under a long-term 15 year lease on an absolute NNN basis. The property is located on Pinewood Road near the intersection of McCrays Mill Road.

Calkain’s marketing efforts generated multiple offers to purchase this net leased asset, ultimately executing the deal for $5,078,063 to a private buyer facilitating a tax-deferred 1031 exchange.

The stability of having an investment grade tenant, coupled with a

Emily CusmanoCalkain Sells Walgreens in Sumter, SC

Drug Store Retailers Remain Steady

GlobeSt.com

CVS and Walgreens are in a constant battle for the biggest share of the market. CVS acquired Omnicare and Target’s pharmacies last year and Walgreens is in the process of acquiring Rite Aid by the end of this year. Both, in total, dominate the Drug Store industry. A recent Cap Rate Report released by Calkain shows quarter-by-quarter average national cap rates.

Q4 2015 cap rates stayed in the high 5% range for both pharmacies. Walgreens showed a stable uptick in cap rate for Q1 2016 with an average of 5.68%. The slight increase is a result of REITs maturing and …

Traci BidingerDrug Store Retailers Remain Steady

Calkain’s Patrick Nutt Sells Florida Walgreens

Ft. Lauderdale, FL – Calkain Companies, America’s Net Lease Company®, has sold another Walgreens – this one a 14,447 SF building located at 7415 North Highway 1 in Cocoa, FL 32927, less than an hour outside of Orlando. The tenant occupies the property under a long term NNN lease, which at the time of the sale has roughly 18 years remaining.  Patrick Nutt, Managing Partner with Calkain, represented the Institutional seller in the transaction to a New York based buyer effectuating a 1031 like-kind exchange.

The marketing campaign conducted by Calkain resulted in multiple offers for the property, with each …

Emily CusmanoCalkain’s Patrick Nutt Sells Florida Walgreens

‘Doc-In-A-Box’ Operations Give Net Lease A Lift

GlobeSt.com

Drugstores have always been a big part of retail real estate’s net lease sector. After all, Walgreens and CVS have thousands of stores across the country relied on by investors.

Besides these usual suspects, there is also a crop of urgent-care clinics that are becoming increasingly relevant in the net lease world.

Both developments continue to pick up steam and are good news for the sector.

This “doc-in-a-box”, or retail-clinic trend, gives consumers additional reasons to make trips to net-lease properties.

The in-store facilities, which are found in major drugstores and large discounters such as Walmart, average 200 square feet, …

JD Vangsness‘Doc-In-A-Box’ Operations Give Net Lease A Lift