Pharma Property Group Markets for Sale 13 Walgreens Assets with 15 Year Leases
“I am pleased to announce that we have been assigned to market 13 Walgreens assets throughout Florida, Oregon, Alaska, New York, Alabama, Ohio and other mid-west and eastern states. Each asset will come with a new 15-year absolute net lease, 5% rental increases every 5 years and price points range from $3,000,000 to $7,000,000,” stated Jason Pongsrikul, Managing Principal of Pharma Property Group
“The properties will also be delivered with new 3rd party reports including surveys, phase 1, zoning reports and title assuring investors a smooth transaction process without surprises. This is especially important for 1031 investors under deadlines to know that the properties they are putting under contract for their exchange have a clean bill of health and alleviates any transaction risk during the due diligence process for their acquisition,” said Mr. Pongsrikul.
“Many of the assets have 10 to 20 year operation histories and proven track records of sales performance. Additionally, in-place rent levels are at or near market levels allowing for lower rent to sales ratios and a higher probability of lease renewals at the end of the initial lease term,” stated Mr. Pongsrikul.
Walgreens (www.walgreens.com) is included in the U.S. Retail Pharmacy and U.S. Healthcare segments of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), an integrated healthcare, pharmacy and retail leader with a 170-year heritage of caring for communities. WBA’s purpose is to create more joyful lives through better health. Operating nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving nearly 10 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services, including those that drive equitable access to care for the nation’s underserved populations. To best meet the needs of customers and patients, Walgreens offers a true omnichannel experience, with fully integrated physical and digital platforms supported by the latest technology to deliver high-quality products and services in communities nationwide.
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
Office: (858) 860-6591