Frank R. Simon, Court Appointed Receiver is pleased to offer a leasing opportunity in the exciting and expanding field of cannabis.
Lease-Option Parameters
The Receiver is offering a 5-year base term lease with no rent adjustments. The monthly lease base price is being offered at $12,375 plus NNN costs with no upfront deposits nor any prepaid rents. Tenant will receive a 180 day rent abatement upon lease execution. Tenant pays real estate taxes, insurance and all utilities. Tenant pays these directly. No triple-net allowances are added to the base rent.
Landlord will provide a qualifying tenant with a cash capex TI allowance of $350,000 for upgrades inclusive of labor and parts.
This can't miss opportunity includes a fully operational licensed Class C grow facility. The grow facility was built in 2019, on a concrete slab foundation, includes 12,107 square feet of greenhouse area and 4,351 square feet of support facility on 2.17 acres, with the ability to expand. Local zoning and ordinances are pre-approved to enable licensure for all levels of cultivation, processing, testing and secure transportation.
The Support facility contains: a small office area; break room; restrooms; mechanical room; storage rooms; IT/security room; trim room; airlock room; a clone room with Grow Ray Led lights with double-stacked FS production benches; and shipping and receiving room, among other things.
The Greenhouse contains: eight gas-fired 225,000 BTU wall mounted furnaces with wall fan units; a series of (432) Grow Ray LED lights; airlock, 2,000 amps of power; a canopy with screen system to control sunlight; a wet-wall system; and air purifiers, among other things.
The facility is sprinklered for fire suppression and secured with a perimeter fence, access-controlled gates, and ample security camera coverage adhering to State of Michigan guidelines.
The building has metal exterior walls and a polycarbonate roof.
Utilities include: public water and sewer; natural gas; forced air; and electricity.
The property is centrally located in Eaton County, outside of Lansing, with access to Interstate 69 and 96, for ease of transportation.
The greenhouse and support facility are being offered for lease by the Receiver. If you are interested in touring the property please contact Jean Richardson at (248) 720-0290 or jrichardson@simonattys.com.
The leasing of the property by the Receiver is overseen and subject to the approval of the Eaton County Circuit Court in Case No. 23-202-CH, which appointed the Receiver.
As Is / Where Is
The Receiver is leasing the property “AS IS”, “WHERE IS” and “WITH ALL FAULTS” and specifically and expressly without reliance on any warranties, representations or guarantees, whether express, implied or statutory, of any kind, nature, or type whatsoever from or on behalf of Receiver.
Tenant Qualifications
All potential tenants are subject to credit qualification. Tenant must be an operating entity with 2022 and 2023 federal tax return filings. Provide complete set of 2024 financials including Profit and Loss Statement, Balance Sheet and Cash Flow Statement. 90 days business bank statements. Copies of all licenses for all existing Michigan cannabis operations. If not already in Michigan copies of all cannabis licenses for in the entity headquarter state.
Frank Simon
Simon Property Disposition LLC