Steamboat Walgreens foundation poured
Company reports record sales, splits with company that manages pharmaceutical benefits
June 24, 2011
Steamboat Springs — Twin concrete trucks were feeding a snorkel on the site of Steamboat Springs' new Walgreens store Friday morning as foundation work continued at the northwest corner of U.S. Highway 40 and Pine Grove Road.
The general contractor is Waner Construction Co., a preferred Walgreens builder from the Front Range. Job superintendent Jeff Evans previously told the Steamboat Pilot & Today that he would use more than a half-dozen local subcontractors.
The development of the store is proceeding with a different developer than the team that brought it through the city approval process this spring.
Steamboat developer Brian Olson and partner Rod Forrester sold the commercial building lot in City South and the project for $905,000 to a Chicago man, Patrick Corrigan, who has developed 15 to 20 of the stores.
Corrigan has said he owns a home in Steamboat.
The Walgreens chain reported mixed news this week. The company's third fiscal quarter, which ended May 31, generated record sales, up 6.8 percent over 2010 to $18.4 billion. However, the company also announced that it was splitting with Express Script Inc., the company that manages pharmaceutical benefits for Walgreens stores' 7,700 pharmacies (the company has 8,171 locations in the United States).
Prescriptions represented 65 percent of Walgreens business in the last quarter, and it filled 210 million prescriptions.
Corrigan's business, Corrigan Properties, also develops other types of commercial buildings, including medical office buildings.
— To reach Tom Ross, call 970-871-4205 or email tross@SteamboatToday.com
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