Pharma Property Group Lists Two Property Walgreens Portfolio for $9.5M

Pharma Property Group has been engaged to bring to market two Walgreens listings in Sturgis, Michigan and Troy, New York.

The Walgreens property in Troy was a former Rite Aid which underwent a comprehensive rebranding in 2019. It features the tenant preferred double drive through window, enhancing customer convenience. The subject property is located just a few miles from Samaritan Hospital, a 277-bed facility which is one of the largest hospitals in Upstate New York. The lease also features 5% rental increases at the start of each 5-year renewal option offering attractive growth potential for investors.

The Sturgis property benefits from limited competition as the only Walgreens in a 15-mile radius and has been successfully operating at this location for over 19 years. Strategically positioned in a dense retail corridor with over 850,000 square feet of retail space within a half mile, this location provides steady customer traffic. Additionally, it is just 1.5 miles from Sturgis Hospital, an 84-bed facility serving Sturgis and the surrounding area.

These two properties present investors with exceptional opportunities to achieve strong, consistent returns, for well-established Walgreens locations in strategic markets across the country.

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Pharma Property Group (PPG) has over $2.5 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.