Property Highlights
- High profile free-standing Sunnyside cannabis dispensary with new 10 year lease
- Guarantee from parent Cresco Labs, Inc (CSE: CL) which is one of the largest vertically integrated multi-state cannabis operators in the US
- Absolute Net lease and 3% annual rent increases provide completely passive income and an excellent hedge against inflation
- Fee simple ownership allows for depreciation of the building boosting after tax returns
- Cresco Labs generated $822 million in annual revenue in 2021 and recently announced a deal acquire Columbia Care which would make Cresco the largest cannabis operator in the US
- Florida is the #1 medical cannabis market in the US with annual sales exceeding $1.5 billion
- E-commerce and recession resistant business model, cannabis deemed essential during pandemic
- Excellent underlying real estate fundamentals with clear visibility from major regional intersection with over 70,000 cars per day
- Florida has no state income tax and saw a net migration of 345,000 residents between April 2020 and April 2021
- Cresco Labs to buy Columbia Care, read the article HERE