Walgreen Co., the nation”™s largest drugstore chain, plans to build two Walgreens retail stores in Westchester County to open in mid-2010.
The company has signed long-term leases in Yonkers and the town of Greenburgh, brokers at NAI Friedland Realty Inc. in Yonkers said recently.
Walgreens signed a lease in excess of 25 years with Jomo Realty, Yonkers, for the former Foodtown Supermarket property at 368 S. Broadway in Yonkers. The company also signed a lease agreement in excess of 25 years with landlord Elias Laurenzatos for 11,000 square feet at 870 Central Park Ave near Scarsdale. Montparnasse Diner closed at that location early this year.
Both deals were brokered by John Williams, executive vice president and retail director at NAI Friedland Realty.
Williams said the new stores will be developed by Marc Steinberg, of Mark East Inc. in New York City. Construction is expected to begin soon. Walgreens typically builds stores in the 10,000-square-foot to 15,000-square-foot range, he said.
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The retailer already operates two locations in Yonkers at 1046 Yonkers Ave. and at 1230 Nepperhan Ave. The nearest Walgreens stores from its planned Central Avenue location are at 370 White Plains Road in Eastchester and at 210 Westchester Ave. in White Plains.
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“In a time when retail is struggling, these two transactions are welcome good news for the Westchester County economy,” Williams said. “They involve multimillion-dollar investments by a national retailer that will create jobs both during construction and upon the store openings.”
Williams said the company, based in Deerfield, Ill., is looking to open more drugstores in and around Westchester. As of Oct. 31, the company reported operating 7,603 locations in the U.S., Puerto Rico and Guam, including 7,105 drugstores, 562 more than a year ago. It opened 69 stores in October alone.
Walgreen Co. early this month announced year-to-date sales of about $53.3 billion. Sales through October 2009 were 7.6 percent higher than the same period a year ago.
In other recent deals, a 16,000-square-foot auto dealership property at 138-140 Columbus Ave. in Tuckahoe sold for $1.625 million. Ross Schneiderman, senior executive vice president at NAI Friedland Realty, brokered the deal between Jerlau Realty L.L.C. and Giovanni Portale. Central Avenue Chrysler-Jeep-Dodge is located there.
In Mount Vernon, a vacant 20,000-square-foot industrial building at 18 Sargent Place sold for $1.7 million. Friedland Realty”™s Robin Herko and Steve Lorenzo, executive vice presidents, and retail associate David Scotto represented both the seller, Sargent Crown Realty, and buyer, Autumn Properties. The property will be leased as warehouse and office space.
