Walgreens Hires Real Estate Brokerage
Commercial real estate is usually presented as a great opportunity for investors to thrive and profit. However, the process of investing in property can often be clouded by a number of important questions: for example, how to invest in a REIT, or real estate investment trust. With so much confusion, many potential investors may begin wondering “should I invest in real estate at all?” Fortunately, with the help of a seasoned real estate advisor, many investors find that the process becomes far more comprehensive.
Because of this, the pharmacy giant Walgreens recently laid off 16 of its in-house real estate managers in favor of hiring a Dallas real estate brokerage. People familiar with the company’s operations called the change a cost-cutting move, made in light of a number of costly recent choices: for example, Walgreens’ decision to keep their company headquarters in Chicago, instead of moving to an area of lower taxes. Experts have noted that the move could have saved the company as much as $4 billion over the next five years. For this reason, Walgreens is now reportedly eager to reduce their spending by as much as $1 billion by 2017.
People will knowledge of the decision have noted that many of the real estate managers laid off were company veterans, some with more than two decades of working with Walgreens. But with around 8,309 retail locations around the United States, working with a real estate brokerage could potentially save the company a significant amount of money by outsourcing to a real estate brokerage firm. The brokerage will reportedly be working on site selection and lease negotiations for new stores, a vital part of the company’s expansion.
While the average investor likely won’t have the property portfolio of a store like Walgreens, many people can also benefit from working with a real estate advisor, particularly when it comes to commercial properties. Whether you’re wondering how to invest in REITs, want advice on choosing the right properties, or need help managing the inflows and outflows of your investments, a real estate investment company can help. Contact a reputable firm today to discuss your portfolio. Check out this site for more.
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