10612 Sheldon Road, Tampa, FL
Property Type: NNN Retail
Sale Price: $3,350,000
CAP Rate: 5.8%
Size: 2,700 SF
FA Commercial is pleased to announce the sale of a investment NNN retail property, with a brand new 10-year lease, and a CAP rate of 5.8%. The property is located on a busy road in Tampa.
Fabio & Sebastian Faerman struck a $3,350,000 deal on the sale of this 2,700 SF retail built in 2000 and remodeled in 2022, is occupied by Curaleaf, the world’s largest cannabis company by revenue.
The deal structure features:
- Brand new 10-year lease with 2 (5-year) options to extend
- The lease is corporate guaranteed by Curaleaf Holdings, Inc., the world’s largest cannabis company by revenue.
- The lease features a 10% rental increase every five years, growing NOI and hedging against inflation
- Tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises
Curaleaf Holdings is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States, Curaleaf currently operates in 23 states with 108 dispensaries, 22 cultivation sites and over 30 processing sites, and employs over 5,000 team members. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF.