This flex industrial building is located adjacent to the I-10 and 202 loop. Currently a 100% leased NNN lease with three tenants. Tenants pay premium above market comp rents because of the nature of the business their in, medical cannabis. First tenant has 15 years left on their lease with options for an additional 20 years. First tenant has a corporate guarantee in place. Second tenants lease ends in 2035, but also has options for an additional 5 years. Second tenant signed a personal guarantee. Third tenants lease ends in 2035, but also has options for an additional 5 years. Third tenant signed a corporate guarantee. Each lease has 3% annual increases. 12 month NOI +/- $1,051,476.
One oversized grade level door. Office, showroom, and warehouse uses inside property. Large 2.10 acre lot with 100+ parking spaces. Medical Cannabis license is not for sale, tenant owns medical cannabis license, not the property owner. Massive development coming to this major freeway junction
Brochure, flyer, and OM will be available next week for distribution.