Pharma Property Group Closes a CVS Located in Florida

Pharma Property Group is pleased to announce that they have closed a CVS in the Tampa MSA.  The asset had 5 years remaining, and the owners decided to sell it after the first option was renewed.  CVS had been operating there for 20 years, and PPG located an out-of-state institutional buyer seeking CVS credit.
“During the last eight months, we have either listed or sold over 15 Walgreens/CVS properties in the state of Florida.  With our access to drugstore capital and for our Florida listings, we have been able to locate not only in-state buyers based in Florida but also out-of-state national drugstore buyers who are specifically seeking deals in tax-free states.   The buyer pool demand for income-tax-free states remains strong, especially in Florida and Texas,” said Jason Pongsrikul, Managing Principal at Pharma Property Group.
Pharma Property Group (PPG) has over $2 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
1979 Chicago Street 
San Diego, CA 92110
Office: (858) 860-6591