Stan Johnson Brokers $11M Sale of Long Beach Cannabis Dispensary
Stan Johnson Company has completed the sale of The Bakerie, an 8,300-square-foot cannabis dispensary on Harbor Avenue in Long Beach, CA. Christian Tremblay and Isaiah Harf represented the seller for Stan Johnson, while the buyer, a foreign investor who resides part time in California, was represented by CRE Advisory Group.
“This $11 million sale is the largest recorded retail dispensary sale in California, and we are honored to have assisted our client in getting this property sold,” said Tremblay in a news release. “We have seen an increase in demand for cannabis assets due to their attractive yields in the current net lease environment and their high sales on a per square foot basis.”
The Bakerie is a premium California-based cannabis brand launched in 2020. The building is located at the intersection of Harbor Avenue and Pacific Coast Highway, just off Interstate 710, giving the site impressive visibility.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.