The Property: The subject property is located at 11900 E. 33rd Avenue, Aurora, Colorado, 80011, and consists of approximately 3 acres (the “Property”). There is an existing 20,000 SF building on the Property consisting of a 17,000 square foot cultivation warehouse and 3,000 square foot marijuana retail store. There are approximately 45 parking spaces located on the Property and an existing loading area.
Leased Space: The proposed land lease would consist of approximately 1.3 acres located adjacent to the improved portion of the Property as depicted on the next page, with the ability to erect an improvement of approximately 100’ by 196’ and additional loading areas (the “Leased Space”). Construction of the improvement can start immediately because the project is fully entitled and the utilities are on site.
Terms of Lease: Lessee will pay $500,000 at commencement of the Lease Term and $60,000 annually in base rent. Lessee shall pay Lessee’s share of utilities, CAM Charges, real property taxes and insurance. The Lease Term shall be 25 years with two consecutive 5 year extensions with rent increases of 10% at each extension. The Lease will contain all other standard and commercially reasonable lease terms.
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