Pharma Property Group assists client in completing a successful 1031 Walgreens trade
SAN DIEGO, March 6, 2018 /PRNewswire/ -- "These owners approached PPG to sell one of their Walgreens in Texas which had 3 years of lease term remaining. The owners goal was to perform a 1031 exchange into another net leased property with a longer primary lease term. Our firm also had an exclusive agreement to represent the same owners in their 1031 exchange process. We identified a number of properties that were suitable for their exchange and in the end the owners successfully traded out of a short term 3-year Walgreens lease and repositioned into a 20 year plus net leased investment," explained Jason Pongsrikul, managing broker for Pharma Property Group.
Based in San Diego, California, Pharma Property Group (www.pharmapropertygroup.com) was founded in 2012 by Jason Stuart Pongsrikul who has closed over $1 Billion in net leased commercial properties throughout the country during the last decade. Mr. Pongsrikul was a top 30 agent out of 1,300 agents for one of the top commercial real estate investment firms in the nation and in 2012 recognized the need for further broker specialization in the drugstore property sector.
Mr. Pongsrikul formed Pharma Property Group (PPG) to specialize exclusively in providing commercial real estate services to landlords who own properties occupied by Walgreens, CVS and Rite Aid. Pharma Property Group is now one of the top brokerage firms in the country in drugstore property closing volume and has an unparalleled drugstore marketing platform providing access to the largest pool of drugstore landlords in the nation.
Pharma Property Group
Jason Pongsrikul
Office: (619) 297-0055
SOURCE Pharma Property Group
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