Drug Store

The Healing Center Portfolio

799 W Chestnut St, Washington, PA 15301

Listing Price: $18,064,514

Cap Rate
7.75%
Tenant Name
The Healing Center
Guarantor
No Guarantee
Rentable SF
7,402
Lease Type
Absolute Net
Rent Per Square Feet
$50.66

Investment Overview

Marcus & Millichap is pleased to offer qualified investors the opportunity to acquire, via long-term sale/leaseback, the 100 percent fee simple interest in a three-property retail portfolio fully occupied by The Healing Center. The offering is comprised of three state-of-the-art medical marijuana dispensaries totaling 25,632 square feet strategically located in the Pittsburgh, Pennsylvania suburban areas of Washington, Cranberry Township and Monroeville. Fully occupied by The Healing Center, the Portfolio will be subject to a 12-year absolute net lease structure. With a starting net operating income of $1,400,000 ($54.62 per square foot), the rent will escalate at a rate of two percent annually through the initial term as well as extension options.

Investment Highlights

  • Healing Center 2019 Year End Revenue: $19,400,000 | 2020 Projected Year End Revenue: $48,500,000 | 2021 Projected Year End Revenue: $57,000,000
  • Two Percent Annual Rental Escalations Providing Income Appreciation of 24 Percent Over Initial Term
  • Modern and Open Interiors Exceeding State Health Department Standards with State of the Art Security Systems

Broker of Record

  • Sean Beuche

    Regional Manager

    License(s): PA: RM424190

    Pennsylvania

Drug Store

The Healing Center Portfolio

Listing Price: $18,064,514

Cap Rate
7.75%
Tenant Name
The Healing Center
Guarantor
No Guarantee
Rentable SF
7,402
Lease Type
Absolute Net
Rent Per Square Feet
$50.66

Investment Highlights

  • Healing Center 2019 Year End Revenue: $19,400,000 | 2020 Projected Year End Revenue: $48,500,000 | 2021 Projected Year End Revenue: $57,000,000
  • Two Percent Annual Rental Escalations Providing Income Appreciation of 24 Percent Over Initial Term
  • Modern and Open Interiors Exceeding State Health Department Standards with State of the Art Security Systems

Investment Overview

Marcus & Millichap is pleased to offer qualified investors the opportunity to acquire, via long-term sale/leaseback, the 100 percent fee simple interest in a three-property retail portfolio fully occupied by The Healing Center. The offering is comprised of three state-of-the-art medical marijuana dispensaries totaling 25,632 square feet strategically located in the Pittsburgh, Pennsylvania suburban areas of Washington, Cranberry Township and Monroeville. Fully occupied by The Healing Center, the Portfolio will be subject to a 12-year absolute net lease structure. With a starting net operating income of $1,400,000 ($54.62 per square foot), the rent will escalate at a rate of two percent annually through the initial term as well as extension options.

Broker of Record

  • Sean Beuche

    Regional Manager

    License(s): PA: RM424190

    Pennsylvania

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