3,750 SF
1.26 acres
1 buildings
1 stories
Built in 1982
Contact Agents
Property Documents
Share This Property
Ray Turchi
Senior Managing Director Investments
[email protected]
Senior Managing Director Investments
[email protected]
(407) 557-3847 (office)
(321) 297-6576 (mobile)
David Vaughan
First Vice President Investments
[email protected]
First Vice President Investments
[email protected]
(407) 557-3829 (office)
(407) 718-2874 (mobile)
Investment Highlights
RECENTLY OPENED
•New 10-year, Triple Net (NNN) Lease, with Minimal Landlord Responsibilities (roof/structure)
•Two Percent (2%) Annual Rent Increases Provide a Hedge Against Inflation
•Lease Guaranty from Parent Company, Cresco Labs, Inc (CSE: CL)
•Base Rent Commencement Date of October 1, 2022
•High Profile Free-Standing Building, Including Drive-Thru Lanes
•1.26 Acres | 48 Total Parking Spaces
•All Property Renovations & Improvements by Tenant – Long Term Commitment to Location
•Fee Simple Ownership Allows for Depreciation Boosting After US Income Tax
•Florida is a No Income Tax State
CRESCO LABS / SUNNYSIDE SHOPS
•Operating in 10 States, with 21 Production Facilities and 55 Owned Dispensaries
•Generated $822 million in Annual Revenue in 2021
•Recent Announcement to Acquire Columbia Care, Which Operates 86 Locations in 17 States
•Upon Acquisition of Columbia Care, Cresco Labs Will Become the Largest Cannabis Retail Operator in the U.S.A.
•For additional information about Cresco Labs, click the following link: Cresco Labs
•Florida is a Leading Medical Cannabis Market in the US; Annual Sales 2023 Projected to Exceed $1.5 Billion
•E-commerce and Recession Resistant Business Model, Cannabis Deemed Essential During Pandemic Era
•For Additional Store Information, Click the Following Link: Sunnyside Medical Dispensary Panama City Beach FL
Key Metrics
Cap Rate Current Year:
6.15%
Price/ SF
$693.77
Listing Agents: