Property Highlights
- High profile free-standing Green Dragon cannabis dispensary in Central Florida with excellent visibility to 44,000 cars per day
- Long-term upside through monetization of attached residential property and renewal of billboard lease
- Green Dragon recently merged with Eaze, the nation’s largest cannabis delivery marketplace and operate over 48 delivery and retail locations in California, Colorado, Michigan and Florida
- Florida is Green Dragon’s top growth market where they have recently opened 15 dispensaries with additional stores in development
- New 15-Year Absolute Net lease with corporate guarantee provides passive ownership and stable cash flow
- 10% rent increases provide hedge against inflation and a 7.94% average return over the initial lease term
- Recent capital improvements including new roof and HVAC with warranty
- Fee simple ownership allows for depreciation of the building boosting after tax returns
- Florida is the largest medical cannabis market in the US with annual sales exceeding $2 billion
- E-commerce and recession resistant business model, cannabis deemed essential during pandemic
- Florida has no state income tax and in 2022 ranked as the fastest growing state in the US with nearly 10,000 people moving to the Sunshine State every week