Pharma Property Group Closes 14 Drugstores
“We are pleased to announce that Pharma Property Group closed 14 drugstores in the month of December to finish 2020. That equates to one drugstore closing nearly every 48 hours with an aggregate value of over $57,000,000,” stated Jason Pongsrikul.
“Our expertise in the drugstore space allowed our team to close a variety of complex drugstore transactions including: drugstores sold with lease terms of 2 years to 20 years, drugstore leases closed after 10 to 20 year lease restructures, drugstores closed at 5 year option renewals and CMBS drugstore loan assumptions. We sold drugstores that we had exclusively listed through our specialized national drugstore marketing platform as well as through off market channels with our vast network of active drugstore buyers and sellers. In many of our transactions we cooperated with outside brokers that had specific requirements for drugstore purchases and we also worked with a number of first-time drugstore buyers entering the market,” said Jason Pongsrikul.
“I could not be prouder of our team and be more thankful to our clients. All of our agents and support staff stayed focused and determined to finish out 2020 with everything they had left after a challenging year. Our clients ended each deal in a better position than when we started their drugstore sale or purchase. It was a great way to finish 2020 where Pharma Property Group set a record year of 47 closings equating to nearly one drugstore closed every week,” stated Jason Pongsrikul.
Pharma Property Group (PPG) has over $1.3 Billion in closing transaction experience and specializes in providing commercial real estate services to landlords who own properties occupied by Walgreens, CVS and Rite Aid. Pharma Property Group is 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.
Jason Pongsrikul, Managing Principal
Pharma Property Group
5322 Banks Street
San Diego, CA 92110
Office: (858) 860-6591