Business Services Industry
Walgreen increases its East Coast presence; Expanding in New York market dominated by rivals.(News)
Crain's Chicago Business, July, 2004 by Kramer, Louise
Byline: LOUISE KRAMER Crain News Service Walgreen Co. is expanding in New York, one of the few large U.S. markets where it doesn't already dominate or have a major presence. The nation's biggest drugstore chain with some 4,414 drugstores in 44 states and Puerto Rico-but just three in Manhattan-has inked a deal for a fourth location, on the Upper East Side, and is actively pursuing deals for more sites.
"We are putting a new emphasis on Manhattan,'' a Walgreen spokesman says. "It is a huge market that we don't have a large presence in right now.'' He declined to specify the number of stores the Deerfield-based retailer envisions for the city. Patrick Smith, a principal at Staubach Cos., Walgreen's exclusive New York real estate broker, says the company has...
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