Pharma Property Group Closes a 12 Year Leased West Coast Walgreens for $5,800,000 with a California Drugstore Investor
“This closing was the replacement property for a 1031 exchange where we sold the down leg drugstore asset. The California based buyer we represented was a repeat client and seasoned drugstore owner who we have done multiple transactions with over the last five years. Nearly 30% of all Walgreens buyers are based in California where we are headquartered giving us a huge edge over other brokerage teams that do not have direct access to California capital like we have. Over the last decade our lead brokers have cultivated deep rooted relationships with qualified net leased investors all throughout the state of California,” explained Jason Pongsrikul, Managing Principal of 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