Zen Leaf - Altoona PA
Logan Valley Mall Outparcel | Across from Park Hills Plaza (2.4 million Annual Visits)
Marketing description
Introducing an outstanding investment opportunity at Zen Leaf Dispensary located at 590 W Plank Road, Altoona, Pennsylvania. This single-tenant property boasts a corporate-guaranteed lease with 7 years remaining and 2% annual rent increases. Zen Leaf, backed by Verano Holdings Corp, a leading cannabis operator, demonstrates commitment with 4 options to extend the lease. As part of the rapidly growing U.S. cannabis industry, Verano operates in 13 states across 132 retail stores, making it a top 5 MSO by revenue. With strong financials and a robust EBITDA margin, this property offers a lucrative investment opportunity. The lease structure includes limited landlord responsibilities, making it an ideal, passive investment for out-of-state investors. Don't miss out on this exclusive opportunity to own a piece of the thriving cannabis industry while enjoying a hassle-free landlord experience. Contact us today to secure your investment in this premier property.
Investment highlights
Corporate Guaranteed Lease | Options To Extend | 2% Annual Increases | 7 Years Remaining
Zen Leaf has 7 years remaining on their lease with 4 (5-year) options to extend, demonstrating their commitment to the site
The lease features 2% annual rent increases throughout the term and during each option to extend
Headquartered in Chicago, Verano Holdings Corp. is a leading, vertically integrated, multi-state cannabis operator in the U.S. and publicly traded (CNSX: VRNO)
U.S. Cannabis retail sales is one of the fastest growing industries in the country and are expected to surpass $50B annually within the next five years
Verano has grown to 14 cultivation/production facilities and 132 retail stores across 13 active states
Verano is a top 5 cannabis MSO by revenue and their adjusted EBITDA margin of 35% is the highest of their peer group
Outparcel to Logan Valley Mall | Heart of Altoona’s Retail Corridor | Strong Tenant Presence | Park Hills Plaza | Placer.ai Data
Ideally situated as an outparcel to Logan Valley Mall, a large shopping mall anchored by Macy’s and JCPenney and other national/credit tenants including H&M, Bath & Body Works, and Old Navy
Located across from Park Hills Plaza, a grocery anchored shopping center which draws over 2.4 million annual visits with national tenants including Weis Markets, Harbor Freight Tools, Dunham Sports, and Urban Air Adventure Park (Placer.ai)
Other nearby national/credit tenants include The Home Depot, Dick’s Sporting Goods, Ross Dress for Less, Kohl’s, Staples, Barnes & Noble, Goodwill, Best Buy, and more
Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site
This location ranks in the top 85% of all Zen Leaf Dispensary stores in Pennsylvania
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