Posted on January 19, 2023 / 70Listing ID: 515561APPLY FOR A REAL ESTATE LOAN
Cannabis & Hemp Insurance
Price : $7,340,000
Cap Rate : 8.00
Cannabis or Hemp Use Allowed? : Cannabis and/or Hemp
Current Cannabis Business License? : Yes
License Type : Medical
Year Built : 1983
Sale Type : Cash, Financing
Company Name : Progressive Real Estate Partners
Phone : (909) 230-4500

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.

Coming Soon: Cannabis Escrow & Title
Contact Listing Owner
Cannabis & Hemp Banking
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