NNN Sale Leaseback with one of CA’s Leading Operators | Fully Developed Industrial Cannabis Facility + Well Established Tenant
| Rittertime is proud to share an exclusive opportunity to become owner and landlord of the first and only operational cannabis facility in the City of Long Beach with licenses for Cultivation, Manufacturing (Type 7), and Distribution.The tenant has one of the largest contract manufacturing operations in Southern California and is an established leader in type 7 volatile extraction. Concentrates make up 30% of the CA market share. Investors have the opportunity to acquire a property that is supported by one of the most well established Southern California cannabis manufacturing companies, which has existing contracts and growth potential with industry’s leading cannabis operators. | |||
| PROPERTY OVERVIEW | |||
| LOCATED | Long Beach, CA 90813 | CA CANNABIS LICENSE | Manufacturing (Type7 Volatile), Distribution, Cultivation |
| SIZE | ± 21,750 SF | REGULATORY CLEARANCE | FDA/California Category 3 |
| PRODUCTION CAPACITY | 4,000 Liters/Mo. | CURRENT PRODUCTS | CBD Oil, THC Distillate, Sauce, Wax |
| RAW MATERIAL CAPACITY | 100,000 Lbs./Mo. | ||
| INVESTMENT TERMS | |
| PREMISES | Consisting of a free-standing industrial building approximately 21,750 square foot and situated on approximately 35,432 Acres of LBIG zoned land with APN: 7271-008-001 |
| PURCHASE PRICE | $12,700,000 |
| LEASEBACK | Upon close of Escrow Buyer and Seller will enter into a lease. The general terms and conditions of the lease are in the paragraphs below |
| INITIAL TERM | One hundred twenty (120) Months |
| BASE RENT | $117,000 NNN per Month |
| RENT ESCALATION | 3% per year |
| USE | Any cannabis business use and any ancillary use necessary for cannabis business. |
| LEASE TYPE | AIR Single Tenant NNN Lease |
| HIGHLIGHTS |
| RECENTLY UPGRADED |
| 21,750 sq. ft state-of-the-art facility with new electrical wiring, HVAC, and other high-end tenant improvements - Foodgrade/Biotech-like facility. |
| STRONG EXISTING CASH FLOW |
| generates sustainable cash flow, under multiple contracts with an array of other leading cannabis companies. |
| ATTRACTIVE FINANCING TERMS |
| Open to proposals and flexible in structuring the transaction in a manner that optimizes gross proceeds and lease expense for itself and the investor. |
Interested?
We would love the opportunity to share more about this exciting project with you. The next step is for us to set up a short call to go over all of your questions and concerns as well as share with you key information that will aid you in your review of this opportunity.
We would love the opportunity to share more about this exciting project with you. The next step is for us to set up a short call to go over all of your questions and concerns as well as share with you key information that will aid you in your review of this opportunity.
