Medalist Diversified REIT agrees to acquire 42,461 sq ft property in Pensacola, FL for $14.5 million

Medalist Diversified, Inc.

MDRR subsidiary MDRR XXV Depositor 1, LLC signs Purchase and Sale Agreement with Drake Motor Partners Pensacola LLC on June 11, 2025.
Total consideration for the property at 312 E. 9 Mile Road is $14,544,504, with a $500,000 earnest money deposit due within 3 business days.
The property is fully leased to Tesla, Inc. under a lease dated September 21, 2024, and the purchase price is subject to adjustment based on net operating income and a 6.15% cap rate.
Closing expected within 45 days; conditions include tenant estoppel certificate and waiver of Tesla's right of first offer and purchase option.

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