PANAMA CITY BEACH, FLA. — SRS Real Estate Partners’ National Net Lease Group has negotiated the $1.5 million sale of a retail property in Panama City Beach triple-net leased to Green Dragon, a chain of retail cannabis dispensaries in Florida and Colorado. The 5,164-square-foot store is located at 917 Harrison Ave. and has a new 10-year lease in place.
Patrick Nutt, William Wamble and Daniel Becker of SRS represented the seller, a Florida-based private investor, as well as the buyer, a private 1031 exchange buyer, in the transaction. Both parties requested anonymity. The sale of the Panama City Beach Green Dragon is the 17th transaction of a cannabis dispensary that SRS has brokered in the state of Florida, for a total of just under $50 million.