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New York

Winick loses Duane Reade account to SRS Real Estate

Walgreens subsidiary was looking to benefit from brokerage's global reach, sources say

From left: Duane Reade, Jeff Winick (credit: STUDIO SCRIVO) and Patrick Smith
From left: Duane Reade, Jeff Winick (credit: STUDIO SCRIVO) and Patrick Smith

Jeff Winick’s Winick Realty Group lost Duane Reade — one of its biggest accounts – to fellow retail brokerage SRS Real Estate Partners.

Patrick Smith and Matthew Alexander of SRS Real Estate Partners were hired to handle retail leasing for the Midtown Manhattan-based subsidiary of the Illinois-based Walgreen Company, the New York Observer reported. Duane Reade was looking to benefit from the global reach of SRS, sources told the newspaper.

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SRS already represents Walgreens in leasing deals.  Walgreens acquired Duane Reade in 2010 for $1.1 billion.

Another source told the newspaper that Jeff Winick “built his company on [Duane Reade].” [NYO] — Mark Maurer

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Jeff WinickRetail Real EstateWinick Realty Group