Licensed Medical Marijuana Business Park
Triple-Net (NNN) Lease
60,000 Square Foot Building
LICENSED MEDICAL MARIJUANA BUSINESS PARK TEMPE, ARIZONA
The Tempe Medical Marijuana Business Park includes ownership of 2.5 acres of Light-Industrial property. The project has been developed as a mixed-use facility that is planned to service a vertically-integrated business for licensed medical marijuana operators, including cultivation, manufacturing/processing, kitchen, and dispensary facilities. Supporting space includes tenancy for nutrients/hydroponics vendors, corporate offices, and warehouse storage. The property is ideally located within a mile of Sky Harbor International Airport, providing excellent access for national-investors and development partners.
The project includes 60,000 square feet of block-constructed warehouse space. The entire Building has been leased to our primary tenant and client in Arizona, Hana Meds. The Project includes 25,000 square feet of licensed medical marijuana cultivation, processing and kitchen facilities, and 2,500 square feet of corporate offices. Future development plans include a 2,500 square foot facility for a licensed medical marijuana dispensary, and 25,000 square feet to be developed as additional cultivation operations.
The Tempe property also includes a long-term 50-year lease agreement with an antenna provider, which gives the company no-cost, monthly rental revenue.