Pharma Property Group Closes a Transaction in Dothan, Alabama to a California based investor.
Pharma Property Group facilitated a transaction of a Walgreens in Alabama to a California based investor as a 1031 upleg . This Walgreens was an absolute net investment and was delivered free and clear of debt.
“We had this property exclusively listed and were able to locate a 1031 trade buyer based in California coming out of an exchange. With us being based in California, this particular transaction shows our deep-rooted access to California capital which accounts for roughly 30% of all Walgreens buyers in the country. Our ability to market drugstore properties to California investors that we have built a relationship with over the last decade allows us to provide more exposure to our listings therefore creating more value during their disposition,” explained Jason Pongsrikul, Managing Principal for 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