Curaleaf | Miami, FL | NN+ with 3% Annual Bumps

Highlights:

• Desirable Location Dynamics - located on a hard corner, signalized intersection just one block from the Golden Glades Interchange, the Property has enviable exposure and visibility directly along NE 167th St (61,500+ VPD)
• True Passive Income - corporate guaranteed NN Lease (limited Landlord Responsibilities) providing an investor with a reliable and secure income stream without hands-on management
• Blossoming Submarket - the 167th Street/163rd Street corridor, extending from the Golden Glades Interchange to Sunny Isles Beach, has witnessed significant new retail development and the strategic acquisition of key properties along the corridor for planned redevelopment
• Corporate Guaranteed Lease - the property benefits from a corporate guaranteed lease with a publicly traded company, Curaleaf (CNSX: CURLF), which is the largest publicly held marijuana multistate operator in terms of both revenue & locations

Description:

Current Real Estate Advisors is pleased to exclusively present the opportunity to acquire Curaleaf (the “Property”), the fee-simple interest in a ±2,200 SF freestanding single-tenant building located on a 12,557 SF (0.29 Acre) parcel in Miami, FL. The Property is leased to Curaleaf Holdings, Inc. – a leading vertically integrated multi-state cannabis operator – on a NN Lease with minimal landlord responsibilities. There are ±3 years remaining on the Lease, which calls for 3% annual increases as well as 1, 5-Year option period.

The property went through extensive renovations in 2017 to serve the current tenant’s operations as they continue their expansion throughout Florida. Curaleaf recorded an annual revenue of $1B+ through 3Q2024, showing continued growth year-over-year and projections to exceed their 2023 revenue of $1.35 Billion.

Located with direct frontage along NE 167th St (61,500+ VPD) and adjacent to the Goldens Glades Interchange, the congregation point for all of Miami-Dade’s major highways – I-95, Florida’s Turnpike (FL 836) & The Palmetto Expressway (FL 826), the Property presents enviable exposure and visibility.

Curaleaf presents a rarely-offered opportunity for an investor looking for a steady, stable income stream with exceptional underlying real estate fundamentals, located at the gateway to North Miami Beach and the 167th Street Corridor.

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