Investment Highlights
- Brand New, 10-Year, Triple Net (NNN) Lease
- Two Percent Annual Rent Increases Throughout Base Term and Option Periods
- The Lease is Corporate Guaranteed by Trulieve, Inc.
- Trulieve is the #1 Cannabis Operator in Florida With Approx. 127 Locations Operating in the State – the Next Closest Brand Currently Operates 71 Locations
- Trulieve is One of the Largest and Most Profitable U.S. Cannabis Operators With 186 Dispensaries Nationwide
- The Company Recently Expanded with Purchases of Licenses in California, Connecticut, Massachusetts, Pennsylvania and West Virginia
- Population of 110,180 Within Three Miles, and Nearly 200,000 in Seven Miles
- High Traffic Area, Located on Dunn Avenue with a Daily Traffic Count of 35,000 Vehicles
- Located Off Interstate 95, Which Connects the Property South to Downtown Jacksonville and North to Georgia
- Surrounding National Retailers Include Publix Supermarket, Harbor Freight Tools, Planet Fitness, Beall’s Outlet, Rent-A-Center, Rainbow Shops, Sam’s Club, Dollar Tree, Family Dollar, Advance Auto Parts, AutoZone, Bank of America, Wells Fargo, Chase Bank, McDonald’s, KFC, Popeyes Louisiana Kitchen, Wendy’s, Papa John’s Pizza, Dunkin’ Donuts, Starbucks, T-Mobile, CVS, Walgreens and Many More
Investment Overview
Marcus & Millichap is please to present the opportunity to acquire a brand new Trulieve Medical Cannabis Dispensary in Jacksonville, Florida. This offering includes a new 10-year, triple net (NNN) lease, with two five-year tenant renewal options. The lease includes annual rent increases of 2% during the base term and option periods, backed by Trulieve, Inc.’s corporate guarantee.
Trulieve is the leading cannabis operator in Florida with approximately 127 locations in the state. The nearest competitor manages 71 locations. Trulieve has reinforced its position in the cannabis industry through expansions in California, Connecticut, Massachusetts, Pennsylvania, and West Virginia.
The commercial location has strong demographics with a population of 110,180 residents within three miles and nearly 200,000 within seven miles. It’s situated along Dunn Avenue with a daily traffic count of 35,000 vehicles and easy access to Interstate 95 offering access south to downtown Jacksonville and north to Georgia.
Surrounding National Retailers Include Publix Supermarket, Harbor Freight Tools, Planet Fitness, Beall’s Outlet, Rent-A-Center, Rainbow Shops, Sam’s Club, Dollar Tree, Family Dollar, Advance Auto Parts, AutoZone, Bank of America, Wells Fargo, Chase Bank, McDonald’s, KFC, Popeyes Louisiana Kitchen, Wendy’s, Papa John’s Pizza, Dunkin’ Donuts, Starbucks, T-Mobile, CVS, Walgreens and Many More
Jacksonville is the fourth-largest metro area in Florida, with a growing population and a significant corporate presence. It’s home to three Fortune 500 companies and expects further growth in the coming years. The dispensary is close to the Naval Air Station Jacksonville, serving a military population of 10,493 total active duty, 34,000 family, 8,370 federal employees, and is also near educational and healthcare institutions. It’s conveniently located near Jacksonville International Airport, JAXPORT, and TIAA Bank Field, the NFL’s Jacksonville Jaguars’ home field.
