Licensed Medical Marijuana Cultivation
CHINO VALLEY, ARIZONA
Triple-Net (NNN) Lease
47.6 Acres of Agricultural Property
Chino Valley, AZ
LICENSED MEDICAL MARIJUANA CULTIVATION CHINO VALLEY, ARIZONA
The Chino Valley Cultivation Facility property includes ownership of several parcels of land totaling approximately 50 Acres of commercial/agricultural land. The project has been granted a multi-year Phased Protected Development Rights Plan (PPDRP), which gives the property a multi-year development agreement with the local municipality that is protected under state-law. The protected development has rights to include multiple licensed medical marijuana cultivation facilities, renewable energy installations, residential developments, mixed-use agriculture, and supporting operational facilities.
The property has been leased to a licensed medical marijuana cultivation tenant over a 20-year term with a triple-net (NNN) lease structure. The property currently includes 35,000 square feet of operational space, with 50,000 square feet of development planned to be completed by the end of 2018.
The Chino Valley property includes extinguished water-rights that guarantee agricultural well-water distribution for the tenant operator.