Altoona, PA - Zen Leaf

Description:

• Zen Leaf has 7 years remaining on their lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 2% annual rent increases throughout the term and during each option to extend
• Headquartered in Chicago, Verano Holdings Corp. is a leading, vertically integrated, multi-state cannabis operator in the U.S. and publicly traded
(CNSX: VRNO)
• U.S. Cannabis retail sales is one of the fastest growing industries in the country and are expected to surpass $50B annually within the next five years
• Verano has grown to 14 cultivation/production facilities and 132 retail stores across 13 active states
• Verano is a top 5 cannabis MSO by revenue and their adjusted EBITDA margin of 35% is the highest of their peer group

• Ideally situated as an outparcel to Logan Valley Mall, a large shopping mall anchored by Macy’s and JCPenney and other national/credit tenants including H&M, Bath & Body Works, and Old Navy
• Located across from Park Hills Plaza, a grocery anchored shopping center which draws over 2.4 million annual visits with national tenants including Weis Markets, Harbor Freight Tools, Dunham Sports, and Urban Air Adventure Park (Placer.ai)
• Other nearby national/credit tenants include The Home Depot, Dick’s Sporting Goods, Ross Dress for Less, Kohl’s, Staples, Barnes & Noble, Goodwill, Best Buy, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site
• This location ranks in the top 85% of all Zen Leaf Dispensary stores in Pennsylvania