NNN LEASE | The lease is a true NNN, with zero landlord responsibilities. The tenant is responsible for maintaining and repairing all aspects of the subject property including the roof, structure parking lots, HVAC, insurance and property taxes.
MAJOR TENANT IMPROVEMENTS | The tenant has completed renovation of two greenhouses and is currently renovating the remaining two greenhouse structures on the farm. Tenant has spent over $10 Million in improvements through 2018, plus an estimated additional $3-4 Million planned in 2019 and beyond.
LEGAL & FULLY COMPLIANT | Guarantor was the first licensed medical marijuana operator in all of Monterey County and has set the gold standard for not only required but voluntary compliance in California. Tenant holds current state licenses for medicinal and adult use of cannabis products in the State of California and is responsible for all costs of compliance throughout the term of the lease. The lease has been structured by veteran commercial real estate professionals to provide for full transparency, audit rights and multiple other Landlord-friendly use clauses.
HIGHLY DESIRABLE LOCATION | The property is approximately 254,000 SF greenhouse structure on 10 acres located on Zabala Road in Monterey County. Monterey County offers an ideal climate for growing cannabis, and a friendly political environment, endorsed by the agricultural industry.
TENANT IS A RECOGNIZED LEADER | Tenant received the “Small Business of the Year Award” from Monterey County in 2016. The company is committed to remaining in the City of Salinas and serving the community as a responsible and legally compliant participant in the growing medical and recreational cannabis industry.
