A nearly 15,000-square-foot building housing a Walgreens drug store in Phoenix is now on the market with a listed price of $3.6 million.
The structure, which is designated as a Class B building, is located at 4249 W. Glendale Avenue on the north side of the city and was built 25 years ago.
Like most Walgreens buildings, the structure is just one story in height.
The listing comes as Walgreens, which was founded in 1901, has been busy selling off much of its property nationally. Late last year the pharmacy store chain announced plans to close upwards of 1,200 stores in a cost-cutting move after reporting a net quarter loss of $3 billion.
Of the 1,200 stores, at least 500 in thirteen states are targeted for closing before the end of this year. Those closures can be added to some 2,000 stores that have been shut down in the last decade.
Earlier reports indicated that roughly 25% of the company’s remaining stores are not considered to be profitable.
A survey of Walgreens buildings currently for sale nationally indicate that they are on average listed for between $3.1 million and $3.9 million. Most of those stores range in size from 10,000 to 15,000 square feet.
The Phoenix property is being listed by Arbor Realty Capital Advisors of Pasadena, California.
November 20, 2025
By Garry Boulard
1950s postcard of Walgreens
