No Real Estate Purchased in USA Drug Deal

The recent $438 million cash purchase of Stephen L. LaFrance Holdings Inc. by Walgreen Co. left a multimillion-dollar redevelopment portfolio in its wake.

No real estate was included in the deal.

Walgreen is assuming some leases, and leasing other stores from the LaFrance family - 68 stores in all.

More than half of the 144 drugstores that operated under LaFrance's USA Drug, Super D and other banners won't be converted to Walgreen stores.

Of those 76 stores not making the cut, 28 are in Arkansas. The locations are spread across 19 different cities around the state.

About half of the 76 locations are owned by the LaFrance family, and the balance is leased. In Arkansas, 15 are leased, and 13 are owned by the LaFrances.

Mixed in with the drugstores that will go dark are seven parcels of undeveloped land totaling about 20 acres.

Six properties, averaging about 1.5 acre each, were marked for future USA Drug stores. Two of the sites are in Bentonville and one each in Fayetteville, Hot Springs, Jonesboro and Little Rock.

The seventh parcel is almost 10 acres at the northwest corner of Kanis and Bowman roads in Little Rock. A 75,000-SF retail project is on the drawing board for the location.

"We think the timing is good," said Isaac Smith, a principal in the Little Rock office of Colliers International, which is marketing the LaFrance properties. "Retail occupancy has been tightening up every quarter."

Owned by LaFrance Family

USA Drug Express
5462 Central Ave., Hot Springs

Super D Drugs Express
533 W. Nettleton Road, Jonesboro

USA Drug
16924 Cantrell Road, Little Rock

USA Drug
6115 Baseline Road, Little Rock

USA Drug Express
215 N. Bowman Road, Little Rock

USA Drug
437 E. Page Ave., Malvern

Holly's Health Mart
1430 W. First St., North, Prescott

USA Drug
1428 W. Walnut St., Rogers

USA Drug
1112 W. Main St., Russellville

Rx Express Pharmacy
2720 E. Race Ave., Searcy

USA Drug Express
1300 E. Kiehl Ave., Sherwood

USA Drug
100 Hwy. 412 W., Siloam Springs

USA Drug
2300 W. Sunset Ave., Springdale

Leased

USA Drug Express
1024 Military Road, Benton

USA Drug Express
1101 N. Walton Blvd., Bentonville

USA Drug Express
1572 N. College Ave., Fayetteville

USA Drug Express
2111 W. MLK Blvd., Fayetteville

Super D Drugs
1111 N. Washington St., Forrest City

USA Drug Express
202 W. Bower Ave., Harrison

USA Drug Express
100 Airport Road, Hot Springs

USA Drug Express
531 W. Grand Ave., Hot Springs

Super D Drugs Express
1340 Higdon Ferry Road, Hot Springs

USA Drug
105 N. Rodney Parham Road, Little Rock

USA Drug
11108 N. Rodney Parham Road, Little Rock

USA Drug Express
1920 Malcolm Ave., Newport

USA Drug Express
5209 JFK Blvd., North Little Rock

USA Drug
2743 Lakewood Village Drive, N. Little Rock

Super D Drugs Express
1733 W. Kingshighway, Paragould