Pharma Property Group Closes an Off-Market CVS Property in Central Florida
Pharma Property Group has closed an off-market CVS property located in the Orlando MSA. This CVS had 5 years remaining, operated on an absolute net lease basis and was delivered free and clear of debt.
“This transaction demonstrates PPG’s ability to leverage our strong pool of repeat buyers and proprietary drugstore owner database to facilitate deals quietly and efficiently without market exposure. The buyer was able to perform at the seller’s asking price and after the initial introduction moved quickly to a contract and closing thereafter. We had worked with this particular buyer on numerous transactions previously which provided us with full confidence in their ability to take this deal across the finish line,” stated Chris Barry, Senior Associate at Pharma Property Group.
Pharma Property Group (PPG) has over $1 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
Chris Barry, Senior Associate
Pharma Property Group
5322 Banks Street
San Diego, CA 92110
Office: (619) 297-0055