St. Petersburg, FL - Sunnyside

Description:

• 7 years remaining with 2 (5-year) options to extend, generating NOI and hedging against inflation
• Corporate guaranteed by Cresco Labs, one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry
• Cresco Labs now has 70+ operating stores in 8 states and does nearly $750M in annual revenue
• The lease features 2% annual rental increases throughout the initial term and at the beginning of each option, growing NOI and hedging against inflation

• Sunnyside is ideally fronting 4th Street, a main North/South thoroughfare serving the city of St. Petersburg
• Off the signalized, hard corner intersection of 4th Street and 83rd Avenue
• 5 miles from Downtown St. Petersburg
• Half a mile East from Gateway Market Center (218,000 SF), a Publix and Target-anchored community shopping center that ranks in the 90th percentile (680 out of 7,242) of all nationwide community shopping centers according to Placer.ai
• More than 184,000 residents and 124,000 employees support the trade area
• $108,232 average household income
• St. Petersburg is currently growing at a rate of 0.54% annually and its population has increased by 2.2% since the most recent census