November 18, 2021 – Dan Bernardini, Bob Horvath and Todd Tremblay of Horvath & Tremblay has successfully completed the sale of Sanctuary Medicinals in Orlando, Florida. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $4,050,000.
Sanctuary Medicinals is located at 5381 International Drive in Orlando, Florida. The newly constructed, stand-alone building consists of 3,037 square feet on 0.84 acres of land. Sanctuary signed a brand new, 10-year NN lease in December 2020, with over 9 years of term remaining and six (6), 5-year options. The lease calls for 10% rent increases every 5 years through the base term and the option periods. This location is Sanctuary’s first Medical Marijuana Dispensary in Florida with plans to expand across the state. Sanctuary is in an excellent location within the Orlando Metro Area, located less than 2 miles from Universal Studios, Islands of Adventure, and Volcano Bay. The location is situated between Interstate 4 with 177,000 vehicles per day, and Florida’s Turnpike with 100,000 vehicles daily. The property boasts excellent visibility on International Drive (25,500 vehicles per day), with multiple points of access. The property is within walking distance to Orlando International Premium Outlets, Florida’s largest outlet shopping mall spanning over 773,586 square feet and more than 17 million visitors annually. Sanctuary is a mission-oriented medical marijuana dispensary that has grown exponentially and expanded into the recreational sector. As of 2020, they have licensed facilities throughout Massachusetts and a sister location in New Hampshire.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.