Amazon’s drug bet puts spotlight on conventional pharmacies

Amazon’s drug bet puts spotlight on conventional pharmacies

In a panic over Amazon.com’s plan to buy upstart online pharmacy PillPack, shareholders drove down the aggregate market value of CVS Health, Walgreens Boots Alliance and Rite Aid in late June by about $11 billion. Retail real estate professionals and at least one executive from these drugstore brands have displayed a bit more poise.

“I don’t think it’s any surprise that Amazon wants to get into the pharmacy space,” said Randy Blankstein, president of The Boulder Group, a net-lease brokerage based in Wilmette, Ill. “But it’s step one for Amazon, and I think people are questioning what steps two and three are going to be as they get in and learn the business.”

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Amazon’s drug bet puts spotlight on conventional pharmacies

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The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds./

Founded in 1997, the firm has arranged the acquisition and disposition of over $2.1 billion of single tenant net lease real estate transactions. In 2010-2014, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago

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