Pharma Property Group (PPG) has sold a CVS drugstore located in Houston, Texas. Pharma Property Group was the listing broker and also represented the buyer in this transaction. This asset had 7.5 years remaining on a double net lease with rental increases of 5% in each of the four 5-year option periods.
“We were able to identify an institutional California buyer who purchased the property all cash and were able to get the deal done within 45 days showing our ability to get deals closed in a timely fashion and our access to institutional California capital.” stated Chris Barry, Associate at PPG.
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