News
Walgreens Outsources Real Estate Department
As part of a plan to save $1B over the next three years, Walgreens will dismantle its in-house real estate department and transfer the work to Dallas-based SRS Real Estate Partners. The nation's largest drugstore chain is struggling to keep its HQ in Chicago as lower overseas tax rates beckon, Crain's Chicago Business reported. The company will let 16 employees go as part of the change. Despite the cost-cutting measures, Walgreens projects record sales of $76.4B this year across its 8,000+ stores. The company's refocused real estate strategy relies on striking new locations in prime locations.
