Pharma Property Group Closes Walgreens from $17,000,000 Exclusively Listed Drugstore Portfolio

Pharma Property Group has closed an East Coast Walgreens store from a three-unit national drugstore portfolio. PPG exclusively listed three Walgreens and marketed the portfolio as individual offerings to maximize the buyer pool.

 

“The 1031 buyer contacted PPG specifically looking for drugstore product to round out his 1031 exchange. The deal was able to satisfy the buyers 1031 exchange return requirements while providing the seller with additional proceeds versus selling this location as a portfolio. This was a top-tier Walgreens asset with strong performance figures and solid underlying real estate,” stated Chris Barry, Senior Vice President.

“One of the two remaining assets in the portfolio is set to close in a week and the third asset has a pending letter of interest.  Each drugstore asset in the portfolio has a different buyer pool and is located on the East Coast, Midwest and West Coast. PPG is maximizing the sellers exit value by leveraging their national marketing platform to find individual buyers that will pay fair pricing for each asset on an individual basis as it fits their particular investment strategy,” said Chris Barry.

 

 

Pharma Property Group (PPG) has over $2 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.

 

Chris Barry, Senior Vice President

Pharma Property Group

1979 Chicago Street 

San Diego, CA 92110

www.pharmapropertygroup.com

Office: (858) 860-6591