Pharma Property Group Sells a Walgreens with 15-Year Leases and Rental Increases

Pharma Property Group is pleased to announce that they have brokered the sale of two Walgreens in Texas and Florida.  Both of these assets were under absolute triple net leases, had 15 years of firm lease term before the options and included 5% rental increases every five years.

“In both of these transactions we sourced all cash buyers from outside brokers who had clients willing to pay a premium for long-term leases with exceptional sales volumes in tax free states.  These transactions show that buyers are still willing to pay a premium for quality assets in strong infill markets.  We continue to see a “flight to quality” from drugstore buyers as Walgreens/CVS assets continue to provide great returns versus other similar net leased assets when comparing other national tenants of substantial size,” said Jason Pongsrikul, Managing Principal at Pharma Property Group.

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.

Jason Pongsrikul, Managing Principal
Pharma Property Group
1979 Chicago Street
San Diego, CA 92110
www.pharmapropertygroup.com
Office: (858) 860-6591