Pharma Property Group Closes A Off Market Built-to-Suit CVS Development
“We were working with a private investor in a 1031 looking specifically for a drugstore property with a longer lease. The buyer was all cash and contacted us since we specialize in drugstore sales. A couple of weeks earlier, we had an outside broker from another firm contact us regarding a new CVS development that they could deliver. The buyer was able to execute at the price required and the deal was closed off market in short order,” explained Jason Pongsrikul, Managing Broker of Pharma Property Group.
“This particular transaction shows how our drugstore specialization allows us to put drugstore buyers and drugstore sellers together unlike any other brokerage team in the country. It also shows our network of outside brokers which we value greatly. Having trusted brokers across the country that we work with from numerous outside firms allows us to cover the entire drugstore market for our clients active in purchasing,” stated Mr. Pongsrikul.
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.
Pharma Property Group (PPG) 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.
Pharma Property Group
5328 Banks Street Suite B
San Diego, CA 92110
Office: (619) 297-0055