Pharma Property Group Assists 1031 Exchange Buyer in Off Market Transaction
Pharma Property Group was able to assist a buyer with a 1031 Exchange by locating and purchasing an off market built to suit net leased property.
“We were able to assist an exchange buyer locate a replacement property that was off market direct from a built to suit developer. The development was under a 20 year ground lease that was still under construction and we were able to close upon rent commencement once the development was complete,” explained Nick Price, Senior Vice President for Pharma Property Group.
Based in San Diego, California, Pharma Property Group (www.pharmapropertygroup.com) was founded in 2012 by Jason Stuart Pongsrikul who has closed over $1 Billion in net leased commercial properties throughout the country during the last decade. Mr. Pongsrikul was a top 30 agent out of 1,300 agents for one of the top commercial real estate investment firms in the nation and in 2012 recognized the need for further broker specialization in the drugstore property sector.
Mr. Pongsrikul formed Pharma Property Group (PPG) to specialize exclusively in providing commercial real estate services to landlords who own properties occupied by Walgreens, CVS and Rite Aid. Pharma Property Group is now one of the top brokerage firms in the country in drugstore property closing volume and has an unparalleled drugstore marketing platform providing access to the largest pool of drugstore landlords in the nation.
Pharma Property Group
5328 Banks Street Suite B
San Diego, CA 92110
Office: (619) 297-0055