Latitudes Treatment Center - St. Paul, MN
The tenant on the lease is Latitudes Treatment Center, LLC with a guaranty by Meridian Behavioral Health, LLC. Meridian is one of over 100 companies owned by the Audax Group, which has over $16 Billion in assets. This location as operated as a chemical dependency center for 20 years. It is extremely challenging to receive zoning approval for chemical dependency centers. The property was also remodeled in 2013. There is 3 ½ years remaining on a NNN lease with 4% annual increases.