Skip to main content

Miscellaneous

Home Grown Cannabis

5025 S Pennsylvania Ave, Lansing, MI 48910

Listing Price: $12,633,000

Cap Rate
9.50%
Tenant Name
Home Grown Cannabis
Guarantor
Corporate Guarantee
Rentable SF
48,231
Lease Type
Absolute Net
Rent Per Square Feet
$24.88

Investment Overview

Marcus & Millichap has been retained by ownership and is exclusively offering a sale-leaseback acquisition opportunity on a portfolio of properties for Home Grown Cannabis based in Lansing, Michigan. The four facilities total 48,231 square feet and are comprised of two cultivation operations, an administrative office asset and the dispensary store. The absolute net, 20-year lease will commence upon the day of closing of the property sale. A 2.25% annual increase in the rent will be in place allowing ownership to stay current with cost of living inflationary changes. The 2.25% increases will also be in place in the four, 5-year options to renew the lease. Home Grown Cannabis is an original provider in Lansing and became the first licensed recreational provisioning center on February 28, 2020. With a high focus on quality, Home Grown has been able to establish their very own proprietary cultivation facilities right at home in Lansing, Michigan’s State Capital. The cultivation buildings have been highly improved with high tech grow equipment that allows for absolute control over the product consistency. Temperature, humidity, lighting, racking, dedicated room environments and measured hydratiion all make up the keys to product quality. The regular testing performed by the CRA, the State of Michigan Cannabis Regulatory Agency, insures the consistency of the product before final packaging. Ideally situated just a couple of miles west of the Michigan State Campus and south of downtown, the dispensary is on a well trafficked, hard corner providing easy access for the consumer. At this primary intersection of two major roads, over 24,500 VPD pass the site, affording excellent signage and business exposure. HGC looks to expand into some new retail locations in Michigan and has room in the cultivation facility to greatly expand production when necessary.

Investment Highlights

  • New 20-Year Absolute Net Lease Sale Leaseback
  • 2.25 Percent Annual Increases in Primary Term & Options
  • Four Five-Year Options to Renew
  • Home Grown Cannabis has Both Medical & Recreational Licenses
  • 4 Building Portfolio Totaling 48,231 Square Foot on 2.84 +/- Acres
  • Lansing is Home to Michigan Capital and Michigan State University

Exclusively Listed By

Financing By

Miscellaneous

Home Grown Cannabis

Listing Price: $12,633,000

Cap Rate
9.50%
Tenant Name
Home Grown Cannabis
Guarantor
Corporate Guarantee
Rentable SF
48,231
Lease Type
Absolute Net
Rent Per Square Feet
$24.88

Investment Highlights

  • New 20-Year Absolute Net Lease Sale Leaseback
  • 2.25 Percent Annual Increases in Primary Term & Options
  • Four Five-Year Options to Renew
  • Home Grown Cannabis has Both Medical & Recreational Licenses
  • 4 Building Portfolio Totaling 48,231 Square Foot on 2.84 +/- Acres
  • Lansing is Home to Michigan Capital and Michigan State University

Investment Overview

Marcus & Millichap has been retained by ownership and is exclusively offering a sale-leaseback acquisition opportunity on a portfolio of properties for Home Grown Cannabis based in Lansing, Michigan. The four facilities total 48,231 square feet and are comprised of two cultivation operations, an administrative office asset and the dispensary store. The absolute net, 20-year lease will commence upon the day of closing of the property sale. A 2.25% annual increase in the rent will be in place allowing ownership to stay current with cost of living inflationary changes. The 2.25% increases will also be in place in the four, 5-year options to renew the lease. Home Grown Cannabis is an original provider in Lansing and became the first licensed recreational provisioning center on February 28, 2020. With a high focus on quality, Home Grown has been able to establish their very own proprietary cultivation facilities right at home in Lansing, Michigan’s State Capital. The cultivation buildings have been highly improved with high tech grow equipment that allows for absolute control over the product consistency. Temperature, humidity, lighting, racking, dedicated room environments and measured hydratiion all make up the keys to product quality. The regular testing performed by the CRA, the State of Michigan Cannabis Regulatory Agency, insures the consistency of the product before final packaging. Ideally situated just a couple of miles west of the Michigan State Campus and south of downtown, the dispensary is on a well trafficked, hard corner providing easy access for the consumer. At this primary intersection of two major roads, over 24,500 VPD pass the site, affording excellent signage and business exposure. HGC looks to expand into some new retail locations in Michigan and has room in the cultivation facility to greatly expand production when necessary.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower