Tammy Saia Contact Info:
Phone: (630) 570-2226
Email: tsaia@marcusmillichap.com
Tami Andrew Contact Info:
Phone: (630) 570-2179
Email: tandrew@marcusmillichap.com
WireWorks Retail Center
CLOSED
WireWorks Retail Center
Newly Renovated Property in the Last Two Years
100 Percent Occupancy | MUV Medical Cannabis Dispensary Anchor Tenant
New TPO Roof in 2019 | 20-Year Warranty
Newly Paved Parking Lot
New Exterior Façade in 2019
All Tenant Suites are New Buildouts
224 North Florida Avenue, Lakeland, FL 3380
* Sale Price $3,220,000
* Sold at 96% of List
* Closed in 51 Days
Market Summary
Price $3,348,000
Cap Rate 6.50%
NOI $217,626
Rentable SF 10,028 SF
Price per SF $333.87
Year Built / Renovated 2002 / 2019
Lot Size 0.56 Acres
Description
Marcus & Millichap is pleased to present Wireworks Retail Center in Lakeland, Florida. The property has recently been renovated with a new roof, facade, parking lot, and suite buildouts. MUV contributed over $100,000 to their buildout.
Lakeland is the largest city on Interstate 4 between Orlando and Tampa. Large industries in the Lakeland area are citrus, cattle, and phosphate mining. In the past few decades, tourism, medicine, insurance, transportation, and music have grown in importance. Known for a lower cost of living and home to Florida Southern College, it is a family-friendly area with many lakes, parks, and other desirable attractions.
The anchor tenant MUV is owned by Verano Holdings Incorporated. They are a leading, vertically integrated, multi-state cannabis operator in the U.S. that is devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products. Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands with a mission to address vital health and wellness needs: Verano™, Avexia™, Encore™, and MÜV™. The company’s portfolio encompasses 14 U.S. States, with active operations in 11, which includes nine production facilities comprising approximately 770,000 square feet of cultivation. Verano designs, builds, and operates dispensaries under retail brands Zen Leaf™ and MÜV, delivering a superior cannabis shopping experience in both medical and adult-use markets.