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Available For Sale - Retail

7,287 SF | Show Pricing $

AVAILABILITY DETAILS

Size
7,287 SF
Price/SF
Show Pricing $
Listing ID
SA416108
Notes
INVESTMENT HIGHLIGHTS

Brand New, 10-Year, Triple Net (NNN) Lease with Two, Five-Year Renewal Options

10 Percent Rent Increases Every Five Years Throughout Base Term and Options

New Location Opening Summer 2020; Currently Under Renovation

Curaleaf is the Largest National Retail Dispensary Brand in the Country

Exceptional Location Directly Across the Street from Publix, Target and Starbucks

INVESTMENT OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf, medical marijuana dispensary in Tampa, Florida. During these uncertain times this is a great investment because Medical Marijuana Dispensaries remain open as they are considered “essential” businesses. Curaleaf is the largest national retail dispensary brand in the country.

This Curaleaf offers a brand new, 10-year triple net (NNN) lease which will commence in June 2020. This lease has two, five-year option periods with 10 percent rent increases every five years throughout the base term and option periods. This is a new location, currently undergoing renovations and will open Summer 2020.

The subject property is at an exceptional location along a strong retail corridor, and directly across the street from Publix, Target and Starbucks. It’s also only one parcel over from a new Wawa, and two parcels from a Chick-fil-A anchored center. Other surrounding national retailers include Walmart Supercenter, Home Depot, Outback Steakhouse, Applebee’s, Chipotle, Dunkin Donuts, Starbucks, CVS, Walgreens, Regions Bank and many more. This major retail corridor is off Gandy Boulevard with a daily traffic count of 48,000 vehicles; and located near the entrance ramp to Selmon Expressway with more than 35,000 vehicles.

This Curaleaf is in a high growth submarket of Tampa with an average household income exceeding $100,000. The Tampa metropolitan area contains roughly 3.1 million residents. The subject property is five miles from downtown Tampa and the University of South Florida which has a current enrollment of more than 50,000.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Barry Wolfe, Wolfe-Lipsky Retail Group of Marcus & Millichap