Terms might be tight if you are leasing from Walgreens

In the wake of protests Walgreens has pulled back the reigns on deal terms.

Walgreens had approximately 30 stores that have been completely demolished and another 360 that were badly damaged and will need extensive repair. The company operates around 4,700 locations in the US. The issue is Walgreens typically self insures their locations, meaning that there will need to be a significant capital outlay to bring their stores up and running.

These costs are being passed down in part to tenants looking to execute new leases in Walgreens owned locations. However its not all bad news for the tenants side. We are working deals with Walgreens and have been able to get unbelievable deals in A+ markets.

I wont reveal the secret sauce here, but feel free to reach out to me at Jbolsins@morrowhill.com to discuss.