Curaleaf
Manchester, CT
Key Details
| Price: | $3,333,333 |
|---|---|
| Cap Rate: | 7.50% |
| Annual Rent: | $250,000 |
| Address: | 240 Buckland Street, Manchester, Connecticut 06042 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 9/28/2022 |
| Lease Expiration: | 9/30/2032 |
| Lease Term Remaining: | 7.7 Years |
| Rental Increases: | 3.00% Annually Beginning In Year 4 |
| Lot Size: | 1.05 Acres |
| Building Size: | 4,322 SF |
| Year Built: | 2022 |
NNN Pro Group is pleased to present the exclusive listing for a Curaleaf located at 240 Buckland Street in Manchester, CT. The site consists of roughly 4,322 rentable square feet of building space on an estimated 1.05-acre parcel of land. This Curaleaf is subject to a 10-year double-net (NN) lease, which commenced on September 28, 2022. The current annual rent is $250,000 and is scheduled to increase by 3% annually starting in year 4 and throughout each of the 2, 5-year renewal options.
About the Investment
- 10-Year Double-Net (NN) Lease | Minimal Landlord Responsibilities
- Three (3%) Percent Annual Rental Increases Beginning in Year 4 | Strong Hedge Against Inflation
- Recent Construction | A+ Location in Center of Manchester Retail Corridor | Several Surrounding Tenants Above the 80th Percentile According to Placer.ai
- Curaleaf is the Largest Cannabis Company in the World
Key Details
| Price: | $3,333,333 |
|---|---|
| Cap Rate: | 7.50% |
| Annual Rent: | $250,000 |
| Address: | 240 Buckland Street, Manchester, Connecticut 06042 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 9/28/2022 |
| Lease Expiration: | 9/30/2032 |
| Lease Term Remaining: | 7.7 Years |
| Rental Increases: | 3.00% Annually Beginning In Year 4 |
| Lot Size: | 1.05 Acres |
| Building Size: | 4,322 SF |
| Year Built: | 2022 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Broker of Record
Brian Brockman
Bang Realty-New England, Inc
License: REB.0792373
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.