Pharma Property Group Closes an Off-Market Transaction in Austin, Texas
Pharma Property Group facilitated an off-market transaction due to existing relationships in Austin, Texas. This Walgreens was an absolute net investment and was delivered free and clear of debt.
“We closed this Walgreens in Austin off-market. We had a California private investor specifically seeking a drugstore asset and we were also direct with a private investor that was seeking to sell a drugstore in the Austin area. The price point and deal parameters matched what the investor was looking for and they were able to purchase the Walgreens all cash and we put the transaction together off-market between the two parties,” 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