Pharma Property Group Closes a Rite Aid with a Early Lease Extension to a 1031 Exchange Buyer
Pharma Property Group Closes a Rite Aid with a Early Lease Extension to a 1031 Exchange Buyer
Pharma Property Group has sold a Rite Aid property located at 7939 Brewerton Road, Cicero, New York. This Rite Aid location benefited from an early lease extension and has a wellness center in an above average income area within a major retail corridor.
āWe were able to find an experienced buyer, an owner of other drug stores throughout the northeastern United States, who was able to accommodate the sellerās time frame in their 1031 exchange.Ā PPG then assisted the seller with their 1031 exchange into an investment property closer to where they live,ā explained Nick Price, Senior Vice President for Pharma Property Group.
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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.Ā 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.Ā 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
www.pharmapropertygroup.com
Office: (619) 297-0055
