Investment Highlights
- Long Term Triple Net (NNN) Lease with No Landlord Maintenance Responsibilities
- Average Cap Rate of 10.57% During Remaining Base Lease Term
- Annual Rent Increases Throughout Base Term and Option Periods by the Greater of 2.5% or 75% of the Percentage Increase in CPI During Previous Lease Year
- The Lease is Corporate Guaranteed by Revolution Global, LLC (Contact Broker for Details on Additional Credit Enhancement)
- Property Includes Two Drive Thru Lanes
- Enlightened owns and operates seven dispensary locations (four in Arkansas, two in Illinois, and one in Maryland), with an additional dispensary in Missouri operated under a different brand.
- Recreational Cannabis is Legal in Maryland
- High Traffic Area – Access to More Than 124,000 Vehicles Daily on Interstate 95, and Located Off Veterans Memorial Highway With More Than 71,000 Vehicles Daily
- Average Household Income in One Mile is $106,893, Projected to Reach $119,314 by 2027
- Surrounding National Retailers Include Walmart Supercenter, Target, Lowe’s, BJ’s Wholesale, Giant Food, Wegmans, PetSmart, At Home, HomeGoods, Old Navy, LOFT, DSW, Hobby Lobby, Planet Fitness, Walgreens, Starbucks, Chick-fil-a, McDonald’s, Taco Bell, Panera Bread, Dunkin’, Panda Express, PNC Bank, Bank of America, Citi Bank, Wells Fargo, Kiddie Academy, Wawa and Many More
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire an Enlightened Cannabis Dispensary located in Abingdon, Maryland, part of the Baltimore metro area. This is a long-term, triple net lease with no landlord maintenance responsibilities. The lease offers two, five-year tenant renewal options with annual rent increases by the greater of 2.5 percent or 75 percent of the percentage increase in CPI during the previous lease year. This is a corporate guaranteed lease with Revolution Global, LLC (Contact broker for details on additional credit enhancement). The Subject Property also includes two drive-thru lanes. Enlightened owns and operates seven dispensary locations (four in Arkansas, two in Illinois, and one in Maryland), with an additional dispensary in Missouri operated under a different brand.
This is a high traffic area, and the Property has access to multiple heavily traveled roadways. Enlightened Cannabis benefits from having access to more than 124,000 vehicles daily on Interstate 95, which is a major east coast transportation corridor, providing access to Washington, D.C. and New York City. The Subject Property is also located off Veterans Memorial Highway with more than 71,000 vehicles daily. Surrounding national retailers include Walmart Supercenter, Target, Lowe’s, BJ’s Wholesale, Giant Food, Wegmans, PetSmart, At Home, HomeGoods, Old Navy, LOFT, DSW, Hobby Lobby, Planet Fitness, Walgreens, Starbucks, Chick-fil-a, McDonald’s, Taco Bell, Panera Bread, Dunkin’, Panda Express, PNC Bank, Bank of America, Citi Bank, Wells Fargo, Kiddie Academy, Wawa and many more.
Abingdon, Maryland is located in Hartford County and has exceptional demographics. With numerous apartment communities in the immediate area, the population is over 123,000 within five miles of the Property. Enlightened Dispensary is also 13 miles from Aberdeen Proving Ground, which is a U.S. Army facility with more than 21,000 military, civilian and contractor employees. In addition, the average household income within one mile of the Property is $106,893, and $126,698 in three miles.
The Subject Property is 27 miles northeast of Baltimore, Maryland and is part of the Baltimore metro area, which has a population of more than 2.8 million residents. The metro’s population growth is occurring largely in the outer portions of the metro, including Hartford County, where the Subject Property is located.
Broker of Record
Brian Hosey
Lic #: 5005538
