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In the end, it really does come down to real estate, and the blazing commercial market may be a boon to the savvy Cuti after all. With banks bidding up prime spaces by 50 percent or more, Duane Reade’s cheap leases have become the jewel of the company. Some 200 of them are locked in past 2008, taking the rents progressively below-market with each passing day.
Oh how the world has changed. This gem is from 2005 and talks about how Duane Reade is such a smart company grabbing up undervalued real estate. To me, Duane Reade comes off as one of the worst companies I’ve ever read about. Treat their employee’s like crap, complex customer experience and terrible margins (1%). No surprise that they were on the brink of bankruptcy last year and were acquired by Walgreens.
