Pharma Property Group Secures Multiple Competitive Offers for CVS Pharmacy in Tallahassee, Florida
Pharma Property Group (PPG) announced that it has successfully closed on the sale of a CVS Pharmacy located at 1300 Apalachee Parkway in Tallahassee, Florida.
The offering generated strong interest from private investors, 1031 exchange buyers, and drugstore-focused investors seeking exposure to a high-performing pharmacy asset in Florida’s capital city.
The approximately 14,963-square-foot CVS is strategically positioned at the signalized intersection of Apalachee Parkway and Magnolia Drive, benefiting from combined traffic counts exceeding 59,000 vehicles per day. The property is situated less than two miles from Florida State University and Florida A&M University and directly adjacent to Capital Health Plan’s Governor’s Square Health Center.
“We were encouraged by the level of interest generated through the marketing process,” said Chris Barry, Partner at Pharma Property Group. “The multiple offers received underscore investor appetite for well-located CVS assets with demonstrated operating performance, percentage rent participation, and attractive long-term real estate fundamentals.”
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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.
Chris Barry, Partner
Pharma Property Group
1979 Chicago Street
San Diego, CA 92110
Cell: (818) 585-8006
Jason Pongsrikul, Managing Principal
Pharma Property Group
1979 Chicago Street
San Diego, CA 92110
Office: (858) 860-6591