Investment Overview

Marcus & Millichap is pleased to present an exceptional investment opportunity in a growing industry. This opportunity presents a 4,440 square foot single-tenant building at 595 Bank Street, New London, Connecticut. Fully gut remodeled in 2022, the property underwent over $1m in building and tenant improvements, including comprehensive renovations, mechanical upgrades, and high-end ?nishes, creating a modern, turnkey space designed for long-term occupancy. Tenant d/b/a Higher Collective, is an adult-use retail cannabis dispensary, with seven affiliated locations throughout Connecticut. The Tenant is the resulting business of an equity joint venture with Curaleaf, one of the largest cannabis operators in the U.S. with annual revenues exceeding $1.3B. The property is a Triple Net (NNN) lease, with a 10-year initial term and two ?ve-year options. The lease includes 4% annual rent escalations, providing predictable long-term income growth. Located in a designated Opportunity Zone in New London County, the building bene?ts from a strategic position next to a newly completed 140-unit high-end apartment complex, making it a prime destination. The property is just steps from the Amtrak station and the Cross-Sound Ferry, ensuring easy access to regional transportation. It is also in close proximity to signi?cant employers, including Electric Boat, the U.S. Coast Guard, and Lawrence Memorial Hospital, which further enhances its appeal as a key commercial location. With Higher Collective as the tenant, the property offers the security of a reputable, high-demand business in a growing sector. The combination of a well-established tenant, a highly favorable lease structure, and a prime location in an Opportunity Zone near key amenities and employers makes this an outstanding opportunity for investors seeking long-term cash ?ow and strong capital appreciation.