Sarasota, FL - Curaleaf

Description:

• The lease is guaranteed by Curaleaf, Inc. and features 2% annual rent increases in the base term and each option, growing NOI and hedging against inflation
• 8 years remain on this lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site
• Curaleaf’s brands are sold in 17 states with operations encompassing 151 dispensaries

• Curaleaf is located off the signalized, hard corner intersection of University Pkwy and Tuttle Ave averaging a combined 63,900 VPD
• Next to University Walk, a Publix-anchored neighborhood center that ranks in the 76th percentile of all nationwide neighborhood centers via Placer.ai
• The Publix is ranked in the 91st percentile (114 out of 1,344) of all nationwide locations via Placer.ai
• There are several new developments underway in the Sarasota area such as 3H Ranch, a mixed-use master-planned community consisting of more than 6,500 residential units, 250,000 square feet of commercial space, and 120,000 square feet of office space. The development will stretch across more than 2,700 acres south of Clark Road and east of Interstate 75
• Lakewood Ranch, the famous master-planned community to the East of the subject site is set to have another 5,000 homes built across 4,100 acres after approval in early 2025