Tag: Walgreens

What Will The Failed Rite Aid-Walgreens Merger Mean To Net Lease Investors?


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 …

AmyWhat Will The Failed Rite Aid-Walgreens Merger Mean To Net Lease Investors?

Tenant Profile – Walgreens

Walgreens is one of the nation’s largest retail drugstore chains. Walgreens is owned by Walgreens Boots Alliance (WBA). WBA was created through Walgreens’ acquisition of Alliance Boots in 2014. The creation of the international pharmacy group allowed companies to capitalize on synergies with complementary geographic footprints. 

AmyTenant Profile – Walgreens

Calkain Represents Top DC Developer in Sale of NC Walgreens at a 5.51% Cap

Herndon, VA – Andrew Fallon and Rick Fernandez of Calkain Companies completed the sale of a NNN Walgreens in Garner, North Carolina on behalf of one of DC’s top area developers. Calkain previously worked with the client in the acquisition of this asset, having been provided investment criteria of obtaining a liquid NNN property. More recently, Calkain listed the property and was able to procure a 1031 exchange buyer, quickly re-selling the Walgreens for just over $5 million with a 5.51% cap rate.…

Emily CusmanoCalkain Represents Top DC Developer in Sale of NC Walgreens at a 5.51% Cap

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


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


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