trade net lease with confidence · grow houses have humidity and climate control systems in place...

All materials and information received or derived from B Plus E CA LLC, its directors, officers, agents, advisors, affiliates, and/or any third-party sources are provided without representation or warranty as to completeness, veracity, or accuracy; condition of the property; compliance or lack of compliance with applicable governmental requirements; developability or suitability; financial performance of the property; or projected financial performance of the property for any party’s intended use or any and all other matters.

Neither B Plus E CA LLC, its directors, officers, agents, advisors, nor affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. B Plus E CA LLC will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third-party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. B Plus E CA LLC makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. B Plus E CA LLC does not serve as

a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors, and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants, and governmental agencies. All properties and services are marketed by B Plus E CA LLC in compliance with all applicable fair housing and equal opportunity laws.

DISCLOSURE

GREENHOUSE | GRAND JUNCTION MSA BENETLEASE.COM3

ABOUT US

B+E is a modern investment brokerage firm, specializing in net lease real estate and 1031 exchanges. We help clients buy and sell single tenant real estate. Founded by deeply experienced brokers, B+E redefines trading through an intuitive end-to-end transaction platform comprising of user-friendly dashboards and an AI-driven exchange — all leveraging the largest data set in the net lease industry. Complementing senior talent with exceptional technology, B+E’s proprietary process affords greater speed, unrivaled transaction efficiencies, and stronger asset value. With offices in New York, Chicago, Tampa, Atlanta, Denver, and San Francisco, our brokers trade property for our clients across the US. B+E allows virtually anyone to confidently trade net lease real estate.

OUR STORY



https://benetlease.com/pages/about-us/our-story


TABLE OF CONTENTS

EXECUTIVE SUMMARY . . . . . . . . . . . . . . 05

INVESTMENT HIGHLIGHTS . . . . . . . . . . . 06

LEASE ANALYSIS . . . . . . . . . . . . . . . . . . 07

TENANT OVERVIEW . . . . . . . . . . . . . . . . . 08

LOCATION OVERVIEW . . . . . . . . . . . . . . . 09

SURROUNDING TENANT MAP . . . . . . . . 10

DEMOGRAPHICS . . . . . . . . . . . . . . . . . . 11

HOW B+E WORKS

INNOVATIVE BUYER TOOLS . . . . . . . . . . 13

[email protected] License#: ER.100077992

NOLAN JOHNSONCEO & [email protected]

CAMILLE RENSHAW

President & [email protected]

SCOTT SCURICH




EXECUTIVE SUMMARY

B+E is pleased to present the opportunity to acquire an industrial greenhouse property. Currently, the facility is used as a hemp farm, but this property is equipped to grow a variety of agriculture products, except marijuana due to zoning reasons. This asset features 100,000 SF of greenhouse space, which is comprised of +/- 20 grow houses and an 18-acre parcel. These high-end Nexus grow houses have humidity and climate control systems in place for turnkey operation. There are an additional +/- 20 acres that are being used by the current operator, Orchard Mesa Greenhouse, that can also be used by the new operator upon purchase. This potentially gives a new operator +/- 38 acres of land to work within Colorado’s agribusiness hub. Also available to the new operator is the option to purchase $700,000 of FF&E.

$4,750,000OFFERING PRICE

PRO PE RTY DETAILS

ADDRESS 3281 C Road, Palisade, CO 81526

BUILDING SIZE

GREENHOUSE +/- 100,000 SF

INDUSTRIAL BUILDING +/- 11,000 SF

HOUSE #1 +/- 1,800 SF

HOUSE #2 +/- 1,800 SF

LAND AC +/- 18 AC

PROPERTY TYPE Industrial | Greenhouse

ZONING AFT(Agricultural, Forestry,Transitional)

YEAR BUILT | RENOVATED 1988 | 2018



INVESTMENT HIGHLIGHTS

HIGHLIGHTS

TURN-KEY GREENHOUSE FACILITYThis greenhouse is fully equipped for growing agriculture products with +/- 20 grow rooms and +/- 18 acres of land. Additionally, new operators have the option to purchase $700,000 of FF&E to allow for an easy start-up. The new operators may also choose to continue to lease the additional +/-20 acres of land that are currently being used by orchard Mesa.

LOCATED IN COLORADO WINE COUNTRYThis greenhouse facility is located in Palisade, CO which is known as Colorado’s premier wine destination. An estimated 90% of Colorado’s grapes are grown in the Grand Valley. Palisade is recognized as one of the Top 10 wine destinations in the United States.

HIGH-END BUILDING FEATURESThis greenhouse facility is equipped with climate control systems, humidity control, and eco-friendly automated watering systems. High-end features include Nexus structures and +/- 14 gutter connected houses, which integrates modern agricultural technology and supporting equipment to create a productive and high yield growing system and maximum utilization of space.

COLORADO’S AGRIBUSINESS HUBPalisade, CO is located in Colorado’s Grand Valley, which is home to +/- 51 agribusinesses focused on food processing & manufacturing, agricultural inputs, and livestock processing. These businesses employ over 500 residents and collectively achieved over $162M in revenue.

GREAT CLIMATE FOR GREENHOUSE OPERATIONSGrand Junction often has milder weather than the rest of Colorado, providing a great climate for greenhouse or vineyard-based operations. Due to the climate and elevation of Palisade, agriculture businesses enjoy a +/- 6-month growing season.

8% PROJECTED ANNUAL INDUSTRY GROWTHAccording to the Adroit Market Research, the greenhouse horticulture industry is expected to grow at a compounded annual growth rate of +/- 8% from 2020 to 2025. This growth rate would result in the global market size of greenhouse horticulture to grow to more than $41.8B.

COLORADO’S PEACH CAPITALThe Grand Valley is well known for its peach production because of the ideal growing climate. On average, peaches account for 75% of Colorado’s total fruit production.




BUILDING SPECS

G REENHOUSE FEATURES

Climate Control and Monitoring

Eco-Friendly Automatic Watering System

Humidity Control

Drying & Packing Equipment/Facility

Seed Sorting Machinery

Rolling Flowering Beds

Automated Drip Lines & Mist Watering Systems

High Quality Greenhouse Construction

+/- 14 Gutter Connected Houses+/- 5 Ground-to-Ground Houses

••

+/- 20 Nexus Grow Houses




GREENHOUSE INDUSTRY OVERVIEW

There are over 40,000 farms growing crops indoors in the U.S. That’s over 1B square feet of growing area. These 40,000 growers produce a market value of $14.8B annually. Now that’s just the traditional crops. Cannabis producers last year raked in $6.7B in sales, and most production occurs indoors. Insect breeders are raising crickets, mealworms, and grasshoppers for both animal feed and human consumption indoors as well. Certain pharmaceutical production is moving indoors because producing plant-based vaccines halves the time of conventional production. All of these industries are also part of the growing indoor farming ecosystem.

TO P A RE AS WHERE GROWERS P LAN TO INVEST

1.2.3.4.5.

Greenhouse Structures & Coverings: 45%Computer Services & Technology: 25%Irrigation Equipment: 23%Soil & Amendment Handling: 22%Planting Equipment: 19%

GLOBAL MARKET SIZE OF GREENHOUSE HORTICULTUREIS PROJECTED TO REACH $41.8B BY 2025CLICK TO VIEW ARTICLE

FUTURE OF THE INDUSTRY: U.S. GREENHOUSE PRODUCE MARKET TO FLOURISH

Fresh produce sales are projected to reach more than $4B by 2020Currently, Greenhouse production accounts for only 2% of U.S. fresh fruit and vegetables.



https://www.globenewswire.com/news-release/2019/06/06/1865163/0/en/Greenhouse-Horticulture-Market-will-grow-at-a-CAGR-of-8-to-hit-41-84-billion-by-2025-Global-Analysis-by-Trends-Size-Share-Business-Strategies-and-Key-Developments-Adroit-Market-Res.html

https://ggs-greenhouse.com/blog/future-industry-us-greenhouse-produce-market-flourish



https://ggs-greenhouse.com/blog/future-industry-us-greenhouse-produce-market-flourish


LOCATION OVERVIEW | GRAND JUNCTION MSA

GR AND JUNCTION MSAGR AND JUNCTION MSA

GRAND JUNCTION is the 15th most populous city in the State of Colorado and the most populous city on the Colorado Western Slope. Grand Junction serves as a major commercial and transportation hub within the large area between the Green River and the Continental Divide. It is the principal city of the Grand Junction Metropolitan Statistical Area, which had a population of 148,798 in 2018. The city is located along the Colorado River, where it receives the Gunnison River from the south. The name “Grand” refers to the historical Upper Colorado River until renamed in 1921, and the word “Junction” is from the joining of the Colorado and Gunnison Rivers. Hence, Grand Junction has been given the nickname “River City”. The city sits near the midpoint of a 30-mile (48 km) arcing valley known as the Grand Valley, a major fruit-growing region. The Colorado National Monument, a unique series of canyons and mesas, overlooks the city on the west, while most of the area is surrounded by public lands managed by the Bureau of Land Management. The Book Cliffs are a prominent series of cliffs that define the northern side of the Grand Valley. Interstate 70 connects the city eastward to Glenwood Springs and Denver and westward to Green River, Utah; Salt Lake City, Nevada (via Interstate 70 and U.S. Route 6); and Las Vegas, Nevada (via Interstate 70 and Interstate 15).

RANK COMPANY NAME % EMPLOYEES

1 MESA COUNTY VALLEY SCHOOL DISTRICT 51 3.83% 2,715

2 ST. MARY'S HOSPITAL 3.24% 2,300

3 MESA COUNTY 1.44% 1,025

4 STATE OF COLORADO 1.43% 1,012

5 COLORADO MESA UNIVERSITY 1.42% 1,006

6 CITY MARKETS, INC. 1.13% 800

7 COMMUNITY HOSPITAL 1.13% 800

8 GRAND JUNCTION VA MEDICAL CENTER 1.01% 720

9 STARTEK USA 0.99% 700

10 CITY OF GRAND JUNCTION 0.89% 629

TO P EMPLOY ER S



LOCATION OVERVIEW | PALISADE

PALISADE is a statutory town in Mesa County, Colorado, United States. It is part of the Grand Junction Metropolitan Statistical Area. The 2018 population was 2,663 according to Data USA. The community was named for the cliffs near the town site. Palisade is nestled next to Mt. Garfield and near the base of the Grand Mesa National Forest. This agricultural playground is known for its vast orchards and miles of scenic vineyards. Colorado’s wine country is home to over 25 wineries with tasting rooms and multiple ways to enjoy the countryside. The agricultural businesses in Palisade capitalize on hot sunlight-drenched days, cool nights, and water from the snow-capped peaks of the Upper Colorado River Basin to grow some of the finest fruits and vegetables available anywhere. The climate, a 182-day growing season, and an average 78 percent days of sunshine makes Palisade “The Peach Capital of Colorado”.

PALISADE, COPALISADE, CO

PALISADE FACTS

Local vineyards produce +/- 90% of Colorado’s grapes.

The climate and elevation fosters a +/- 6-month growing season.

Among the Top 10 Wine Destinations in the United States.

Mesa County is Colorado’s first Jump Start “tax-free” zone and a designated enterprise zone.

LIST OF SURROUNDING WINERIESCLICK TO VIEW ARTICLE

GRAND JUNCTION AMONG BIGGEST GAINERS IN BEST-PERFORMING CITIES INDEXCLICK TO VIEW ARTICLE

ECONOMIC IMPACT OF TOURISMIN MESA COUNTY

Approximately 1 million visitors to local lodging properties annually.

Over 3,000 jobs supported by tourism.

$269 million in direct travel spent annually.

$8 million in local taxes annually.

FOOD PROCESSING & MANUFACTURINGTOTAL BUSINESSES EST. SALES EST. EMPLOYEES

31 $121M 445

AGRICULTURAL INPUTS & SERVICESTOTAL BUSINESSES EST. SALES EST. EMPLOYEES

14 $14.26M 34

LIVESTOCK PROCESSINGTOTAL BUSINESSES EST. SALES EST. EMPLOYEES

6 $27.95M 37

GRAND VALLEY AGRIBUSINESS DATA60.78% 27.45% 11.76%

AGRICULTURE INPUTS & SERVICES

LIVESTOCKPROCESSING

FOOD PROCESSING & MANUFACTURING

SOURCE: gjep.com


https://visitpalisade.com/wineries-and-spirits/



https://www.gjep.org/for-tech-home-page/grand-junction-among-biggest-gainers-in-best-performing-cities-index/



https://www.gjep.org/key-industries/agribusiness/


SURROUNDING TENANT MAP

STATE ROAD 46

W MORGAN ST +/- 2,000 VPD

4646FL

ETCH

ER A

VE

231

231

NEIGHBORHOODAREA CALLOUT

$$$ MEDIAN INCOME | 000 PEOPLE

20

UNDERDEVELOPMENT

EXIT123 A

NOTABLE TENANTS (IF APP.)

SHOPPING CENTER / MALL/BUSINESS PARK CALLOUT

TOTAL SF | DELIVERY DATE# OF STORES / APARTMENTS / OFFICES

NAME/TYPE

SCHOOL CALLOUT - SCHOOL NAME+/- 1000 STUDENTS | +/- 1000 FACULTY

HOSPITAL CALL OUTHOSPITAL INFORMATION

RIVER NAME

BODYOF

WATER

TRANSPORTATION NAME+/- 1000 RIDERSHIP | +/- 1000 FREQUENCY

RAIL LINE NAME

AREA/DESTINATION

ORCHA

RD MES

A CANAL

NUMBER 1

C ROAD

33RD ROAD

B 1/2 ROAD

ORCHARD MESA GREENHOUSE

WHITT’S ROD SHOP

CENTRAL ORCHARD MESA VOLUNTEER FIRE DEPARTMENT

RETTIG FARMS

ALAMAR STABLES

FRUIT & VEGETABLES

DESERT SUN VINEYARDSWINERY

HERMOSA VINEYARDSWINERY

FRUIT BASKET ORCHARDSFRUIT ORCHARD

Z’S ORCHARDPRODUCE MARKET

PEAR BLOSSOM FARMSFARMHOUSE PRODUCTS

MESA PARK VINEYARDSWINERY

PEACHFORK ORCHARDS & VINEYARDSFRUIT & WINE

HETHERINGTON ORCHARDSFRUIT & VEGETABLES

FURUKAWA FARM ORCHARDSPLANT & FLOWER NURSERY

WHITEWATER HILL VINEYARDSWINERY

UNDER DEVELOPMENT

NEIGHBORHOOD

TRANSPORTATION LINE SCHOOL/UNIVERSITIES

HOSPITAL/MEDICAL

POINT OF INTEREST

RAIL TRANSPORT

LEGEND

N

S




DEMOGRAPHICS

10 MILES

5 MILES

2 MILES

POPULATION

2020 TOTAL POPULATION 7,631 53,543 113,250

2025 POPULATION 7,903 55,525 117,286

POP GROWTH 2020-2025 3.56% 3.70% 3.56%

AVERAGE AGE 35.80 38.20 39.20

HOUSEHOLDS

2 MILES 5 MILES 10 MILES

HOUSING



2020 TOTAL HH 2,795 19,980 44,961

HH GROWTH 2020-2025 3.72% 3.75% 3.69%

MEDIAN HH INCOME $34,680 $49,915 $46,580

AVG HOUSEHOLD SIZE 2.70 2.60 2.40

2020 AVG HH VEHICLES 2.00 2.00 2.00

MEDIAN HOME VALUE $157,414 $178,583 $191,586

MEDIAN YEAR BUILT 1984 1987 1984



HOW B+E WORKS



INNOVATIVE BUYER TOOLS

“This is the first brokerage platform designed to help buyers sweep the national NNN market and match properties to their specific criteria,” said B+E’s CEO Camille Renshaw. “Using collaborative dashboards and AI-driven tools, a seasoned broker personally assists every buyer from search to close.”

BRINGING THE NATIONAL MARKET TO TIME-SENSITIVE BUYERS. B+E’s brokers use new technologies like artificial intelligence to track all active net lease listings on the U.S. market in real-time. Currently, there are roughly 3,000 to 4,000 NNN listings on the market. The B+E platform enables buyers to review the entire net lease market in real-time and compare properties, deal terms, and overall value of a trade. B+E’s seasoned brokers help high net-worth individuals, families, and institutions to build portfolios that satisfy their acquisition criteria and long-term investment objectives.



Only Platform Customized toBuy and Sell NNN Properties

Track Your Transactions End - To - EndStore All Documents in One Place

Analyze PropertiesPlace Offers Instantly Calculate Expenses Manage Tasks For Your Team

THE NET LEASE TRADING PLATFORM


TRADE NET LEASE WITH CONFIDENCE

New York261 Madison Ave., 9th Floor

New York, NY 10016

Tampa2303 North Florida Ave.

Tampa, FL 33602

Chicago 980 North Michigan Ave.

Chicago, IL 60611

San Francisco303 Sacramento St., 4th Floor

San Francisco, CA 94111

Atlanta1175 Peachtree St. NE

Atlanta, GA 30361

6 4 6 .7 70.0 6 59 | info @benetleas e.com

Denver1200 17th Street

Denver, CO 80202