Investment Offering
Phoenix, AZ - Connected International
15 N 57th Dr | Phoenix, AZ 85043
$10,500,000
Price8%
Cap Rate$840,000
NOI37,668
± SF Offering GLADescription
SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed, Connected International cannabis manufacturing facility investment property located in Phoenix, Arizona. The tenant, CNCTD, LLC, recently signed a lease extension of 15 years with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 12.5% rental increases every
5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is guaranteed by Connected International Inc. and is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.
Location
The property is located near the signalized, hard corner intersection of W Van Buren St and State Highway 202 with a combined (51,600 VPD). W Van Buren St, is a major retail and industrial thoroughfare serving the city of Phoenix. The building is located within 10 miles of Phoenix Sky Harbor International Airport, making it an easy commuter location. The property is also within close proximity to downtown Phoenix, making this an ideal, centralized location with easy commute for both employees and clients. The asset is located nearby a major Amazon distribution center and other big box industrial properties. The building is easily accesible via major highways, such as State Highway 202 (47,300 VPD) and nearby Interstate 10 (244,200 VPD). The 5-mile trade area is supported by a population of over 345,800 with an average household income of $76,011.