Cookies

• Long-Term Lease: More than 9 years remain on the base term of the lease, providing investors with long-term contractual income coupled with two, 5-year renewal options.
• Tenant Exercised Early Lease Extension: In 2026, Cookies exercised an early lease extension, adding additional term to the lease well in advance of the original expiration date, highlighting the importance of this location to the tenant and its long-term commitment to the site.
• Significant Tenant Investment in the Site: Cookies invested approximately $525,000 in the buildout, according to the Jacksonville Daily Record, demonstrating a substantial upfront capital commitment to the location.
• Absolute NNN Lease: The tenant covers all operating expenses, taxes, insurance, and all maintenance. The roof was also replaced in 2024, which adds long-term value and lowers the chance of near-term capital needs for the tenant at the property.
• Attractive Rental Increases: The lease features 10% rental increases every five years, providing investors with contractual NOI growth and a hedge against inflation.
• Established Operating Location: The Cookies dispensary has been open and operating since 2024 and has established a strong local presence, currently maintaining a 4.9-star Google rating with more than 900 reviews.
• Globally Recognized Cannabis Brand: The property is leased to Cookies, one of the most recognizable cannabis brands globally, known for its proprietary strains, premium product offerings, distinctive branding, and expanding retail presence across domestic and international markets.
• Large Parcel: The property sits on a large 0.92-acre parcel, providing a favorable land-to-building ratio, ample on-site parking and future redevelopment potential.