Pharma Property Group Closes a Walgreens in the Palm Desert of California
Pharma Property Group has just closed on the Walgreens located at the corner of Jefferson Street and Fred Waring Road in Indio, California. This asset had 16 years of guaranteed income with 50 years in options to follow on an absolute net lease with zero landlord responsibilities.
“Our firm was able to facilitate this transaction in our own backyard of Southern California by leveraging our relationships with both local investors and brokers. We were able to close this transaction with an all cash Southern California investor with cooperation from an outside broker,” stated Jason Pongsrikul, managing broker at Pharma Property Group.
Mr. Pongsrikul added, “this particular corner holds strategic importance for Walgreens as there is a competing CVS directly across the street. Much of this area is surrounded by rooftops and this corner serves as a retail hub for the local community. There are some great upcoming planned retail developments in the area in which this Walgreens is located that will bring further traffic to the shopping center.”
For more information about Pharma Property Group visit www.pharmapropertygroup.com or contact its Managing Principal, Jason Stuart Pongsrikul at (619) 297-0055.
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