2006-07-26 06:36:40 · 6 answers · asked by miataraceman 2 in Business & Finance ➔ Corporations
Commercial real estate developers always save the corner of intersections (ie- hard corners) for retailers such as fast food restaurants, gas stations, banks, or in this case Walgreens. These sites are generally referred to as "pads" because they are small parcels of land that can be either 1) sold to the potential tenant or 2) ground leased (a long term lease usually 30 years or more). Most of the time b/c hard corners are prime real estate, the pads are ground leased to potential tenants for rates ranging from $450k to $550k per year. Walgreens like hard corners b/c of visibility and high traffic counts and if you think about it, most of their shoppers are there for convenience and easy access shopping.
2006-07-26 10:19:28 · answer #1 · answered by s_hanson_99 1 · 5⤊ 3⤋
Intersections and corners are high traffic areas.
2006-07-26 13:40:36 · answer #2 · answered by PetLover 3 · 0⤊ 0⤋
It's a high visibility location, and will draw in people just passing through.
2006-07-26 13:40:15 · answer #3 · answered by Bartmooby 6 · 0⤊ 0⤋
highly visible and they own all that property too. so when the stores take a crap they still have all that prime property
2006-07-26 13:41:34 · answer #4 · answered by bgreve1 2 · 0⤊ 0⤋
depends on where you live, we have Rite-Aids on every corner!
2006-07-26 13:40:43 · answer #5 · answered by sc 3 · 0⤊ 0⤋
i guess they want to make sure every 1 can see them
2006-07-26 13:40:31 · answer #6 · answered by Anonymous · 0⤊ 0⤋