Description

Our August 26th episode features Encore Real Estate Investment Services' founder Brandon Hanna discussing 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 potential trajectory of the pharmacy and investment market. Some key takeaways include: - One fundamental of pharmacy net leases is the advantage their optimal location provides. These retail assets are typically at main-on-main locations with high volume points of ingress and egress, and plenty of parking -- all of which are elements that boost market desirability. - Drive-thrus have become critical to pharmacy operations in current times, allowing for high-traffic sales volume to continue while protecting pharmacy shoppers' health and safety. - 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. - Mom and pop shop pharmacies are seeing more significant impact than national chains post-COVID, even though these larger brands are consolidating physical assets to stay ahead of consumer behavior shifts. Like this? Hop over to our blog to check out the latest CRE hot tips and insights: https://www.crexi.com/insights