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Shopping Strip

Curaleaf

7875 Glades Rd, Boca Raton, FL 33434

Listing Price: $5,580,000

Cap Rate
6.00%
Gross SF
7,147
Rentable SF
7,147
Price/Gross SF
$780.75
Lot Size
1.00 acres
Year Built
1989

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to offer for sale Curaleaf – Boca Raton (the “Property”), a Class-A, newly renovated, single-tenant retail property in Boca Raton, Florida, occupied by a Curaleaf dispensary. Curaleaf has just commenced their initial 10-year lease term as of November 2022, which runs until near the end of 2032, and has an additional 15 years of renewal options available, with 10-percent increases every five years. The Property is strategically located in southwest Palm Beach County on the signalized, northeast, hard corner of Glades Road and the Florida Turnpike, two main thoroughfares in Boca Raton. This location is surrounded by affluent residential communities with nearly 100,000 residents living within a threemile radius, having an average household income of over $105,000. Curaleaf offers nearly 500 feet of frontage along the north side of Glades Road and benefits from a daily traffic count of over 55,000 vehicles per day in front of the building. Curaleaf is located a short distance from the Boca Town Center Mall, Florida Atlantic University, and Mizner Park; as well as being only 12 miles from downtown Delray Beach, and within 30 to 40 minutes from the downtowns of both West Palm Beach and Fort Lauderdale, and their respective international airports. The Property presents the unique opportunity to purchase a high-quality asset with excellent demographics and extremely high barriers-to-entry on one of Boca Raton’s most coveted signalized intersections. With zero landlord maintenance responsibilities, strong tenancy and extensive lease term remaining, this trophy asset provides secure, effortless, corporate-guaranteed cash flow for over 25 years with all remaining options.

Investment Highlights

  • ATTRACTIVE, HIGH QUALITY ASSET: The upscale property was renovated in 2022 to adhere to the f resh specifications that Curaleaf portrays nationally
  • SUPERIOR LOCATION: Curaleaf is idea lly situated on the northeast signalized intersection of Glades Road and the Florida Turnpike, two major thoroughfares in Boca Raton
  • INDUSTRY LEADER: Curaleaf is the largest national retail dispensary brand in the country.
  • POPULATION GROWTH: The populat on within a 3-mile radius is expected to grow by approximately three-and-a -half percent over the next five years.
  • STRONG DEMOGRAPHICS: Average household incomes within a 3-mile radius of the Pr perty exceed $105,000, with a Median Home Value of over $330,000, far exceeding the national averages.

Exclusively Listed By

Shopping Strip

Curaleaf

Listing Price: $5,580,000

Cap Rate
6.00%
Gross SF
7,147
Rentable SF
7,147
Price/Gross SF
$780.75
Lot Size
1.00 acres
Year Built
1989

Investment Highlights

  • ATTRACTIVE, HIGH QUALITY ASSET: The upscale property was renovated in 2022 to adhere to the f resh specifications that Curaleaf portrays nationally
  • SUPERIOR LOCATION: Curaleaf is idea lly situated on the northeast signalized intersection of Glades Road and the Florida Turnpike, two major thoroughfares in Boca Raton
  • INDUSTRY LEADER: Curaleaf is the largest national retail dispensary brand in the country.
  • POPULATION GROWTH: The populat on within a 3-mile radius is expected to grow by approximately three-and-a -half percent over the next five years.
  • STRONG DEMOGRAPHICS: Average household incomes within a 3-mile radius of the Pr perty exceed $105,000, with a Median Home Value of over $330,000, far exceeding the national averages.

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to offer for sale Curaleaf – Boca Raton (the “Property”), a Class-A, newly renovated, single-tenant retail property in Boca Raton, Florida, occupied by a Curaleaf dispensary. Curaleaf has just commenced their initial 10-year lease term as of November 2022, which runs until near the end of 2032, and has an additional 15 years of renewal options available, with 10-percent increases every five years. The Property is strategically located in southwest Palm Beach County on the signalized, northeast, hard corner of Glades Road and the Florida Turnpike, two main thoroughfares in Boca Raton. This location is surrounded by affluent residential communities with nearly 100,000 residents living within a threemile radius, having an average household income of over $105,000. Curaleaf offers nearly 500 feet of frontage along the north side of Glades Road and benefits from a daily traffic count of over 55,000 vehicles per day in front of the building. Curaleaf is located a short distance from the Boca Town Center Mall, Florida Atlantic University, and Mizner Park; as well as being only 12 miles from downtown Delray Beach, and within 30 to 40 minutes from the downtowns of both West Palm Beach and Fort Lauderdale, and their respective international airports. The Property presents the unique opportunity to purchase a high-quality asset with excellent demographics and extremely high barriers-to-entry on one of Boca Raton’s most coveted signalized intersections. With zero landlord maintenance responsibilities, strong tenancy and extensive lease term remaining, this trophy asset provides secure, effortless, corporate-guaranteed cash flow for over 25 years with all remaining options.

Exclusively Listed By

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