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Drug Store

Curaleaf Cannabis Dispensary

707 W Lancaster Ave, Wayne, PA 19087

Listing Price: $3,718,400

Cap Rate
6.00%
Tenant Name
Curaleaf
Years Remaining On Lease
9.9
Guarantor
Corporate Guarantee
Rentable SF
3,050
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$73.15

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in Wayne, PA which is part of the Philadelphia metro area. This is a brand-new location recently renovated by the tenant and is now open. This Curaleaf offers a brand new, 10-year, triple net lease with 10 percent rent increases every five years throughout the base term and option periods. The surrounding area has exceptional demographics. Wayne is a highly affluent Philadelphia suburb and is one of the wealthiest areas in the nation. The average household income in one mile is $182,447, and $208,691 in three miles. Curaleaf recently completed the acquisition of Grassroots, making Curaleaf the world’s largest cannabis company with a market leading presence with 133 dispensary locations and licenses. Curaleaf has expanded its retail presence to 17 locations throughout Pennsylvania with more expansion planned in the state for 2022. The U.S. Cannabis Industry is expected to reach $32 billion in annual sales in 2022. The Subject Property is just 20 miles from Philadelphia, the largest city in the metro with close to 1.6 million residents. The metro is expected to add nearly 96,500 people over the next five years. The property is located on Lancaster Avenue which has a daily traffic count of 25,000 vehicles, off Interstate 476 with more than 120,000 vehicles daily. The Subject Property is within walking distance from Brightview Devon, which is a senior independent and assisted living community comprised of 171 apartment homes. Surrounding national brands include Whole Foods Market, Target, Orangetheory Fitness, TJ Maxx, HomeGoods, Wawa, Five Below, Fleming’s Prime Steakhouse & Wine Bar, Anthony's Coal Fired Pizza, Starbucks, Dunkin Donuts, Chase Bank, PNC Bank, Wells Fargo, Bank of America, CVS, Rite Aid, Marriott Courtyard and many more.

Investment Highlights

  • Average Household Income in 1 Mile is $182,447, and $208,691 in 3 Miles
  • Wayne is a Highly Affluent Philadelphia Suburb and is One of the Wealthiest Areas in the Nation
  • Brand New, 10-Year, Triple Net (NNN) Lease With 10% Rent Increases Every 5 Years
  • New Location, Recently Renovated Per Tenant Specs; Now Open!
  • Curaleaf is the Largest Cannabis Company in the U.S., and Among the Largest Globally | Curaleaf Expanded its Retail Presence to 17 Locations in PA and 133 Nationwide – More Expansion Planned in the State for 2022
  • U.S. Cannabis Industry is Expected to Reach $32 Billion in Annual Sales in 2022
  • Off Interstate 476 With More Than 120,000 Vehicles Daily, and a Major Thoroughfare in the Area and the State
  • Walking Distance from Brightview Devon, a Senior Independent and Assisted Living Community Comprised of 171 Apartment Homes. Surrounding National Brands Include Whole Foods Market, Target, Orangetheory Fitness, TJ Maxx, HomeGoods, Wawa, Five Below, Fleming's Prime Steakhouse & Wine Bar, Anthony's Coal Fired Pizza, Starbucks, Dunkin Donuts, Chase Bank, PNC Bank, Wells Fargo, Bank of America, CVS, Rite Aid, Marriott Courtyard and Many More

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Drug Store

Curaleaf Cannabis Dispensary

Listing Price: $3,718,400

Cap Rate
6.00%
Tenant Name
Curaleaf
Years Remaining On Lease
9.9
Guarantor
Corporate Guarantee
Rentable SF
3,050
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$73.15

Investment Highlights

  • Average Household Income in 1 Mile is $182,447, and $208,691 in 3 Miles
  • Wayne is a Highly Affluent Philadelphia Suburb and is One of the Wealthiest Areas in the Nation
  • Brand New, 10-Year, Triple Net (NNN) Lease With 10% Rent Increases Every 5 Years
  • New Location, Recently Renovated Per Tenant Specs; Now Open!
  • Curaleaf is the Largest Cannabis Company in the U.S., and Among the Largest Globally | Curaleaf Expanded its Retail Presence to 17 Locations in PA and 133 Nationwide – More Expansion Planned in the State for 2022
  • U.S. Cannabis Industry is Expected to Reach $32 Billion in Annual Sales in 2022
  • Off Interstate 476 With More Than 120,000 Vehicles Daily, and a Major Thoroughfare in the Area and the State
  • Walking Distance from Brightview Devon, a Senior Independent and Assisted Living Community Comprised of 171 Apartment Homes. Surrounding National Brands Include Whole Foods Market, Target, Orangetheory Fitness, TJ Maxx, HomeGoods, Wawa, Five Below, Fleming's Prime Steakhouse & Wine Bar, Anthony's Coal Fired Pizza, Starbucks, Dunkin Donuts, Chase Bank, PNC Bank, Wells Fargo, Bank of America, CVS, Rite Aid, Marriott Courtyard and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in Wayne, PA which is part of the Philadelphia metro area. This is a brand-new location recently renovated by the tenant and is now open. This Curaleaf offers a brand new, 10-year, triple net lease with 10 percent rent increases every five years throughout the base term and option periods. The surrounding area has exceptional demographics. Wayne is a highly affluent Philadelphia suburb and is one of the wealthiest areas in the nation. The average household income in one mile is $182,447, and $208,691 in three miles. Curaleaf recently completed the acquisition of Grassroots, making Curaleaf the world’s largest cannabis company with a market leading presence with 133 dispensary locations and licenses. Curaleaf has expanded its retail presence to 17 locations throughout Pennsylvania with more expansion planned in the state for 2022. The U.S. Cannabis Industry is expected to reach $32 billion in annual sales in 2022. The Subject Property is just 20 miles from Philadelphia, the largest city in the metro with close to 1.6 million residents. The metro is expected to add nearly 96,500 people over the next five years. The property is located on Lancaster Avenue which has a daily traffic count of 25,000 vehicles, off Interstate 476 with more than 120,000 vehicles daily. The Subject Property is within walking distance from Brightview Devon, which is a senior independent and assisted living community comprised of 171 apartment homes. Surrounding national brands include Whole Foods Market, Target, Orangetheory Fitness, TJ Maxx, HomeGoods, Wawa, Five Below, Fleming’s Prime Steakhouse & Wine Bar, Anthony's Coal Fired Pizza, Starbucks, Dunkin Donuts, Chase Bank, PNC Bank, Wells Fargo, Bank of America, CVS, Rite Aid, Marriott Courtyard and many more.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

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