Progressive Real Estate Partners is pleased to present the opportunity to acquire Building M at The Cambridge Business Park – a ±17,312 square foot research & development/flex building located in Costa Mesa’s exclusive Measure X cannabis “Green Zone.” The property is currently occupied by 7 well-established cannabis R&D, manufacturing, and distribution companies with extensive interior buildouts estimated as high as $500,000 to $1 million per space. Each tenant is on a NNN structured lease with the majority featuring embedded 3% annual rent increases, offering investors a strong hedge against inflation. Under current California state law, the cannabis industry is required to utilize laboratory testing/distribution facilities in between the cultivation (growing) and retail dispensaries stages of their business. Costa Mesa’s Green Zone is one of the only areas zoned for laboratory testing/distribution facilities in Orange County, giving investors the opportunity to own an asset with high tenant demand amongst a market with limited available space.
