SRS Real Estate Partners (SRS) announced today that it has executed an exclusive agreement with Walgreen Co. (Walgreens) to assist the retailer’s nationwide new store expansion and relocation strategy on behalf of Walgreen Co. and its related affiliates. As the largest drugstore chain in the U.S. with over 8,200 stores, Walgreens remains committed to pursuing quality new store opportunities to provide customers an unsurpassed retail experience. SRS, a long-time strategic consultant with Walgreens, was chosen to assist Walgreens in its retail expansion due to SRS’ significant breadth of experience with nationwide retailer rollouts, strategic consulting on new store concepts, expansive broker coverage and depth of local market knowledge.
Leading the team for SRS are executive vice presidents Patrick A. Smith and Matthew D. Alexander, who will work closely with Walgreens to enhance the company’s existing store base while evolving its real estate management structure. While the assignment officially begins in early December, Alexander and Smith have begun enlisting best-in-class brokers in each region as part of a national broker network to drive the Walgreens initiatives.
“Our former Real Estate Managers can be proud of the work they did over many years to provide Walgreens with the best retail footprint in the industry. With our goal of saving $1 billion over the next three years, we are looking forward to leveraging the SRS team to deliver the next generation of quality stores to our customers,” said Tom Connolly, vice president of facilities development for Walgreen Co.
“We are honored to work with one of the country’s leading retailers, and are eager to help Walgreens deliver on its strategic plan for growth and store optimization,” said Chris Maguire, CEO of SRS Real Estate Partners.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit https://srsre.com.