We have a prescription drug problem in Sarasota

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……and the commercial investment market is embracing it

Like many of us who are multi-generational Sarasotan’s, I am blessed to have both of my parents around to visit and occasionally care for.   I am blessed that they are independent and vibrant and they don’t act like they are in their late eighties. 

Although my parents are very healthy, they occasionally get sick.  I often run to the store, pick up dinner, take them to the doctor and pick up prescriptions.  It was picking up the prescriptions that generated the theme for this essay.

The other day, my mother asked me to pick-up her prescriptions if it wasn’t out of my way.  She told me that it was at the CVS and would be ready after 5:00pm. Simple enough, as I was already on my way home from the office and I was somewhat familiar with the location of that particular drug store.

Most drug stores are strategically located at major intersections to be convenient.  So I pull into the location, knowing it is was drug store and preceded to the drive thru lane. The drive thru had numerous cars waiting allowing me to make some necessary return phone calls while I waited.  As I crept to the window, I realized that getting prescriptions is as easy as getting a check cashed or a Big Mac and fries.

After many minutes of waiting, I finally made it to the “Teller” window and requested my mother’s order to pick up.  After numerous inquiries from the clerk who couldn’t find the prescription, I informed the clerk that my mother specifically told me that she called it in to this particular CVS.   The clerk graciously thanked me for visiting “WALGREENS” and guided me to the opposite corner of the intersection, cautioning me not to confuse it with the ECKERD’S on the other corner.

What happened to all the banks on every corner?   Banks have disappeared and now are in gas stations, bars and grocery stores.   Drug stores have now replaced banks and gas stations.  Drug stores are in grocery stores and department stores and on every corner.  Drug store leases are now a popular investment in the commercial real estate market and can be a great source of stable income for the investor.

So, when you hear on the evening news that drugs are being sold on every corner, just drive around Sarasota and you will see what they are talking about.  Yes…WE HAVE A PRESCRIPTION DRUG PROBLEM IN SARASOTA….and the investment community is embracing it and making lots of money off of it.

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