Description

Our September 2nd episode invites back Brandon Hanna of Encore Real Estate Investment Services to discuss more CRE opportunities in the pharmacy market. Crexi's PRO Perspective series explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the industry. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, Crexi's Yannis Papadakis sits with Brandon to discuss current trends, fundamentals, and the pharmacy market's potential trajectory. Some key takeaways include: - Over the last ten years, drug stores and pharmacies have shifted focus from front end/back end operations to creating "wellness experiences" such as offering in-store clinics, adding higher value, branded items, and (like CVS) acquiring insurance companies. - Pharmacies with features like a drive-thru pickup are staying ahead of the paradigm shift of consumer concerns of entering a drugstore. - There's plenty of inventory on the pharmacy net lease market right now, and brokers who specialize in that asset type and research comps data can take advantage of the high demand levels in the space. - Pharmacies are over a century old, and — as an essential business — they'll likely continue proving their resilience amid potential economic downturns. Current tenants are cooperating with landlords, extending leases and negotiating rent reductions: all things that should reassure investors that the businesses are here to stay. Like this? Hop over to our blog to check out the latest CRE hot tips and insights: https://www.crexi.com/insights