Rite Aid Closing | Warren, OH | January 2017
Pharma Property Group Closes a Rite Aid in Warren, OH
Pharma Property Group has closed the Rite Aid located at 2840 Youngstown Road SE in Warren, Ohio. The property had 8 years remaining on a absolute triple net lease with 10% increases every ten years during the first four (5 year) options.
“This particular store had two competing Walgreens locations in a two mile radius and our firm was able to perform for our seller and locate a California broker who had a exchange client. PPG retained the exclusive listing for the seller based in California and it was no surprise that the buyer was also California based. Nearly one third of all Walgreens buyers in the last 3 years have their primary residence in the state of California,” explained Jason Stuart Pongsrikul, managing broker of Pharma Property Group.
Pharma Property Group is a specialized national commercial real estate brokerage firm providing investment services for drugstore landlords who own Walgreens, CVS and Rite Aid properties throughout the nation.
Pharma Property Group
5328 Banks Street Suite B
San Diego, CA 92110
Office: (619) 297-0055