Curaleaf Cannabis Dispensary Westmont,Illinois

$2,950,000
Available
Property type:Single-Tenant Net Lease

The space

  • Price: $2,950,000
  • Cap Rate: 5.75%
  • Rentable Square Feet: 4,736
  • Annual Rent: $169,641
  • Price PSF: $622.89
  • Year Built/Renovated: 1982/2021
  • Lease Guarantor: Curaleaf, Inc. & GR Companies, Inc.
  • Lease Type: NNN
  • Option Periods: 2, 5-Year Options
  • Rent Increases: 10% Every 5 Years
  • Lease Expiration: April 30, 2032

Description

11 East Ogden Avenue
Westmont, IL 60559

Investment Highlights

  • Brand New, 10-Year, Triple Net (NNN) Lease With 10 Percent Rent Increases Every Five Years
  • As of January 2020, Recreational Cannabis is Legal in Illinois – Anyone 21 and Older Can Purchase
  • Adult-Use Cannabis Sales in Illinois at Record Levels and Even Exceeding Liquor Sales
  • Curaleaf Recently Completed the Acquisition of Grassroots, Creating the Largest Cannabis Company in the U.S. and Among the Largest Globally | Market Leading Presence Across 23 States With 131 Dispensary Locations
  • 22 Miles from Downtown Chicago | Busy Retail Corridor Located on Ogden Avenue With a Traffic Count of More Than 31,000 Vehicles Daily
  • Surrounding National Brands Including Lexus, Mercedes-Benz, BMW, Porsche, Trader Joe’s, Aldi, Jewel-Osco, Hobby Lobby, Office Depot, Orange Theory Fitness, Dunkin’ Donuts, McDonald’s, Pizza Hut, Panera Bread, T-Mobile, Walgreens and Many More
  • 2.5 Miles from Advocate Good Samaritan Hospital, 300-Bed Hospital With More Than 1,000 Physicians; and Three Miles from Edward-Elmhurst Health Center, 309-Bed Hospital With 7,700 Employees

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in Westmont, Illinois which is a prime Chicago suburb. As of January 2020, recreational cannabis is legal in Illinois which means anyone 21 and older can purchase. Adult-use cannabis sales in Illinois are at record levels and even exceeding liquor sales.

This Curaleaf offers a brand new, 10-year, triple net lease with 10 percent rent increases every five years throughout the base term and option periods. Curaleaf recently completed the acquisition of Grassroots, making Curaleaf the world’s largest cannabis company with a market leading presence across 23 states with 131dispensary locations.

The subject property is part of the Chicago metro, one of the largest metros in the nation, and is only 22 miles from the downtown Chicago. The property is located on a busy retail corridor located on Ogden Avenue with a traffic count of more than 31,000 vehicles daily. Surrounding national brands including Lexus, Toyota, Mercedes-Benz, BMW, Porsche, Trader Joe’s, Aldi, Jewel-Osco, Hobby Lobby, Office Depot, Orange Theory Fitness, Dunkin’ Donuts, McDonald’s, Pizza Hut, Panera Bread, T-Mobile, Walgreens and many more.

The subject property is 2.5 miles from Advocate Good Samaritan Hospital, 300-bed hospital with more than 1,000 physicians, and three miles from Edward-Elmhurst Health Center, 309-bed hospital with 7,700 employees. The property is also three miles from Midwestern University, a graduate medical and professional school with an enrollment of more than 6,900 students.


Steven Weinstock
Broker of Record
P: (630) 570-2200
Lic #: 471.011175

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