Walgreens

Walgreens is a well-established U.S. pharmacy and retail chain that operates neighborhood drugstores focused on prescriptions, health and wellness products, and everyday convenience items. The company began in 1901 when a pharmacist opened a small drugstore in Chicago, and over the decades it grew into one of the most recognized drugstore brands in the country. That long history has given it a strong presence and familiarity in communities across the United States.

As of November 2024, Walgreens operates nearly 8,000 retail locations in the U.S. and Puerto Rico. These stores typically feature a full-service pharmacy paired with a front-of-store assortment that includes over-the-counter medications, personal care, beauty, photo services, and basic convenience goods. The company also supports its physical footprint with a robust digital presence, offering online prescription management, mobile tools, same-day delivery, and in-store pickup, which helps maintain customer engagement beyond the storefront.

Walgreens is now part of Walgreens Boots Alliance, which was taken private by private equity firm Sycamore Partners in late 2025. The U.S. retail business continues to operate under the Walgreens name, with its headquarters in Deerfield, Illinois, and a large workforce serving patients and customers daily through its stores and digital channels.

In recent years, the company has shifted its focus from aggressive new store growth to refining its existing footprint. It is selectively relocating, replacing, and repositioning stores in core trade areas where it can protect prescription volume and capture omnichannel demand. At the same time, Walgreens has been expanding its role in healthcare by adding in-store clinics, strengthening partnerships with health systems, and evolving its store formats to emphasize health and wellness while keeping the convenience elements that customers expect.

For landlords, brokers, and developers, Walgreens represents a long-standing, widely recognized tenant with a stable operating model. Its presence is common in community and neighborhood retail settings, where it often serves as an anchor or outparcel user. The company continues to adapt its real estate strategy to support both its pharmacy business and broader health services, making it a relevant and active player in the retail real estate landscape.