Walgreens Closing | Odessa, TX | May 2016
Pharma Property Group Closes Walgreens in Odessa, Texas
Pharma Property Group has announced the closing of the Walgreens drugstore for sale located at 1305 West University Boulevard, in Odessa, Texas. Jason Pongsrikul, Managing Principal of PPG, represented the Florida based seller and had the property exclusively listed.
“This transaction was a testament to our firm’s abilities within the drugstore marketplace. Within two weeks of the listing we were able to locate a 1031 California- based investor and we cooperated with their broker in the transaction. We achieved a sub six CAP sale price on an 11-year leased Walgreens for our selling client. We also facilitated the introduction to the lender who was Midwest based and was ultimately able to close the transaction within 50 days” stated Mr. Pongsrikul.
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