Walgreens Closing | Des Moines, IA | January 2016

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Pharma Property Group closes Walgreens in Des Moines, Iowa

Pharma Property Group exclusively listed the Walgreens for sale located at 3501 Ingersoll Avenue in Des Moines, Iowa. This Walgreens store had approximately two years left on the initial lease term remaining with seven 5-year options.  This was an absolute net leased asset with no landlord responsibilities whatsoever.

“This was a rare ground lease Walgreens with increases that had a price point of under $2,000,000.  The buyer was an investor local to the property who understood the long term value of this particular corner and its importance to Walgreens as a 24 hour operating store,” explained Jason Stuart Pongsrikul who is Managing Principal of Pharma Property Group.

This Walgreens drugstore is located two miles from downtown Des Moines, the capital city of Iowa, and is the most populous city in the state.


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