Pharma Property Executes Sale of Mid-Atlantic Walgreens

Pharma Property Group (PPG) is pleased to announce that the firm successfully arranged the sale of an absolute net-leased (NNN) Walgreens situated in a main retail corridor in the Mid-Atlantic region.

The sellers, a national investment group, engaged Pharma Property Group to facilitate the disposition ahead of an upcoming loan maturity. The transaction was closed at the CMBS loan maturity, retiring the existing debt. This sale represents one of only two Walgreens properties sold in 2025 with a price point of $6,500,000 or higher.

In the sale of this Walgreens asset, Pharma Property Group’s brokers Chris Barry and Dawson MacKay represented the sellers. The buyer, a private 1031 buyer based in Northern California, was represented by a local California-based broker who was seeking a higher yield, long-term, management-free net-leased investment for their repeat clients, demonstrating the firm’s ability to leverage its extensive network of West Coast investors and longstanding broker relationships.

Walgreens had just over nine years of term remaining on the lease with eleven five-year options to renew. “This sale demonstrates that demand for triple-net leased drugstore assets remains strong, particularly in markets with favorable underlying real estate fundamentals,” stated Dawson MacKay.

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Pharma Property Group (PPG) is a premier commercial real estate firm specializing exclusively in properties leased to national drugstore chains, including Walgreens, CVS, and Rite Aid. With a proven track record of success, evidenced by over $3 billion in closed transactions and over $5 billion in drugstores underwritten, PPG offers landlords unparalleled market intelligence and access to the industry’s most extensive network of drugstore property owners. Our unique and comprehensive marketing platform ensures access to the largest pool of drugstore buyers and sellers in the nation.

Jason Pongsrikul, Managing Principal

Pharma Property Group
1979 Chicago Street
San Diego, CA 92110
www.pharmapropertygroup.com
Office: (858) 860-6591