Pharma Property Group Facilitates Sale of Walgreens in New Jersey

Pharma Property Group (PPG), a net lease investment brokerage specializing in pharmacy retail assets, announced today the successful sale of a Walgreens occupied net lease property in Springfield, New Jersey. The transaction closed for over $7,000,000, achieving near full asking price. This is a result that stands in sharp contrast to the broader market where 85% of Walgreens sold in 2026 traded below $6,000,000 (based on Pharma Property Group’s 2026 Transaction Data).

The offering generated exceptional market interest, attracting several competitive offers within the first two weeks of marketing, a testament to the pent-up demand for Walgreens assets backed by strong real estate fundamentals. The store features more than 12 years of remaining lease term, providing investors with a long-term, predictable income stream in an infill New Jersey trade area.

Pharma Property Group represented both the buyer and seller in the transaction, navigating the deal from contract execution through a successful closing and closed in 78 days from contract execution.

“This deal proves that a well-located store with meaningful lease term remaining commands a premium and draws serious, qualified buyers. We received seven offers in under two weeks on a $7 million asset. That’s a market that knows the difference between real estate and credit.”, stated Sean Dan, Vice President at PPG.

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Pharma Property Group (PPG) is a premier commercial real estate firm specializing exclusively in properties leased to national drugstore chains Walgreens and CVS. With a proven track record of success, evidenced by over $3 billion in closed transactions and over $5 billion in drugstores underwritten, PPG offers landlords unparalleled market intelligence and access to the industry’s most extensive network of drugstore property owners. Our unique and comprehensive marketing platform ensures access to the largest pool of drugstore buyers and sellers in the nation.

Jason Pongsrikul, Managing Principal                            

Pharma Property Group                                                

1979 Chicago Street                                                       

San Diego, CA 92110                                                   

www.pharmapropertygroup.com                                    

Office: (858) 860-6591                                                   

Sean Dan, Vice President

Pharma Property Group

1979 Chicago Street

San Diego, CA 92110                                       

www.pharmapropertygroup.com                                    

Cell: (858) 414-8051