A&G puts Walgreens leases on the market — here's where
Dozens of Walgreens store leases are now available as the drug store chain trims its footprint.
A&G Real Estate Partners is seeking offers for 60 leases and 18 fee-owned land parcels, stores and other real estate assets across 27 states and Puerto Rico (full list of leased stores at end of article). 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.
"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," said A&G co-president Emilio Amendola. "As a result, these available locations create strong opportunities for expanding retail chains."
The Walgreens spaces up for grabs includes:
- 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-sq.-ft. medical co-op space and an undeveloped 21-acre warehouse site.
A&G marketed dozens of Rite Aid leases following the company’s Chapter 11 bankruptcy filing in late 2023, which were quickly grabbed by expanding retailers, including several in the discount sector.
"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 leased Walgreens stores A&G is marketing 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)
[READ MORE: How to put retail leases in the ‘asset’ column]
Founded in 1901, Walgreens operates approximately 8,500 stores throughout the U.S. and Puerto Rico.
