Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Jungle Boys Medical Marijuana Dispensary in Palm Harbor, Florida – part of the Tampa metro area. This listing offers a new, long-term, triple net lease with three, five-year tenant renewal options and two percent annual rent increases throughout the base term and option periods. This is a brand-new location, renovated in 2022 and recently opened. This Jungle Boys location offers excellent access and visibility from U.S. Highway 19 with a daily traffic count of more than 85,000 vehicles. The average household income is $92,770 in one mile of the property and projected to reach $104,156 by 2028. The area also has a population of nearly 200,000 within five miles and nearly 300,000 in seven miles. Surrounding national brands include Publix Supermarket, Sprouts Farmers Market, Planet Fitness, Orange Theory Fitness, Haverty’s Furniture, Michael’s, Ross, Pet Supermarket, Wells Fargo, Bank of America, Outback Steakhouse, Carrabba’s Italian Grill, Verizon, Wendy’s, KFC, Chipotle, Chick-fil-A, Tire Kingdom, Advance Auto Parts, Starbucks, BMW, Ferrari, MINI, GMC, Honda and many others. The property is three miles from Mease Countryside Hospital, a 387-bed facility designated as one of IBM Watson Health 100 Top U.S. Hospitals. Also, less than five miles from St. Petersburg College – Tarpon Springs Campus, the school serves more than 53,000 students at 11 locations throughout Pinellas County. This listing is part of the Tampa-St. Petersburg-Clearwater, Florida metropolitan area which contains roughly 3.2 million residents. Jungle Boys is 9.5 miles from Clearwater, 21 miles west of Tampa, and 23 miles north of downtown St. Petersburg. Tourism plays a significant role in the local economy with attractions in the area including Busch Gardens Tampa, Adventure Island, the Lowry Park Zoo, Florida Aquarium, Clearwater Marine Aquarium – and numerous beautiful beaches and golf courses. The surrounding area is estimated to have about 14.9 million visitors annually. Jungle Boys is a group of medical marijuana growers based out of Los Angeles, California. The company has a very strong fan-base and following with customers traveling long distances to shop at their locations. In addition, their store openings often have customers camping out overnight in anticipation of the unique products and shopping experience. Jungle Boys currently operates seven retail locations in Florida with other pending openings coming soon.