Buying a
Walgreen's Location
Public/Private: Public
Stock Symbol (if applicable): WAG
S & P Credit Rating: A+
# of locations: 7,500+
Walgreen’s is the nation’s largest
drugstore chain with fiscal 2009 sales
of $63 billion. The company boasts more
than 7,500 locations and more than
238,000 employees. Walgreen’s recently
reported its 35th consecutive
year of record sales. Prescription drugs
account for 65% of Walgreen’s sales.
During the last two decades, Walgreen’s
has put an emphasis on moving out of
inline locations and into freestanding
locations on the corner of “main and
main”. Walgreen’s owns approximately 20%
of their locations, while it leases the
rest. Typical initial lease terms are
between 20-25 years with a typical
building size of 14,560 square feet.
You can tell just by walking into a
Walgreens that they are serious about
your business. Little did people know,
this large chain was started with a
drugstore in a small neighborhood. In
fact this store was only feet by 20
feet! As you can see from the stores
these days, Walgreens has changed up
quite a bit. From the products they sell
to the services they offer, Walgreens
has seen an extensive change along the
years from 1901 until now.
As far as the business has gone doesn’t
matter as much as how far the man behind
the business originally operated it all.
Walgreen made its first appearance into
the world in a small town near Galesburg, Illinois.
It was here that Charles R. Walgreen, at
the tender age of 16, gained his first
experience by working in a drugstore.
Even though he was learning a lot it was
far from a great experience he was
having. Walgreen never intended on
working in a drugstore, in fact he only
did it because he suffered from an
accident that didn’t allow him to play
sports. That “accident” lead him to
great fortune down the road.
As long as Walgreens has been open it
has been constantly improving itself and
expanding, making it one of the greatest
companies to invest in. If you are
interested in more information about the
company don’t hesitate to give us a call
today!
Our Take:
We
believe Walgreen’s are among the best
real estate investments available. The
track record of continued growth and
success proves why Walgreen’s are such a
desirable tenant.
