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The borrower is one of the most reputable, high-end marijuana dispensaries in Denver, serving medical and adult customers at multiple locations in the Denver metro area, including Aurora and Lakewood. Established in 2011, they have a solid reputation for growing the best quality genetics in Colorado.
Driven by quality, our client was seeking to refinance a retail cannabis dispensary building located in Denver, CO as well as an industrial cultivation warehouse.
The two properties consists of a retail building of 5,922 SF NRA located on a 42,059 SF commercially zoned parcel, and the Industrial warehouse consists of 16,998 SF NRA and is situated on a 42,059 SF commercially zoned parcel.
The total site area is a 72,829 SF commercially zoned site in the City of Denver. Within a 5-mile radius, the population is roughly 290,000 people, which is expected to grow at the same pace the population growth of the Denver MSA is twice as high than growth in the United States.
|Loan Type||Cannabis CRE|
|Project Date||February 1, 2022|
Nearby commercial development is predominantly industrial space, most likely due to the properties’ proximity and accessibility to the Interstate. Various retail improvements and food service restaurants resembling the subject retail building are also located nearby.