St. Petersburg, FL - Sunnyside

Description:

• 6 years remaining with 2 (5-year) options to extend, generating NOI and hedging against inflation
• The lease features 2% annual rental increases throughout the initial term and at the beginning of each option
• 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 73 operating stores in 8 states and does nearly $655.8M in annual revenue
• This location has received excellent reviews on Google, with a 4.9/5.0 average rating after 1,000+ reviews
• Trump’s recent proposal to move cannabis from Schedule I to Schedule III has major implications on the industry which would offer companies tax benefits, more financing availability, and increase operating margins

• 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

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Listing ID: a28TP000000xHRRYA2