Medical Marijuana Industry Hitting New Highs -Company Closes $4.6 Million Dollar Acquisition of 83,000 S/F Industrial Park
CORAL SPRINGS, Florida, March 18, 2014 /PRNewswire/ --
Cannabis leaders make acquisitions as industry experiences rapid growth: Zoned Properties, Inc. (OTC: ZDPY), Advanced Cannabis Solutions, Inc. (OTC: CANN), Medbox, Inc. (OTC: MDBX), GW Pharmaceuticals plc (NASDAQ: GWPH) and Growlife, Inc. (OTCBB: PHOT)
Zoned Properties, Inc. (OTCPink: ZDPY) http://www.zonedproperties.com, a lessor of land, facilities and equipment to the medical marijuana industry has announced that they have closed on a multi-tenant light industrial park in Tempe, Arizona. The $4.6 million dollar acquisition represents the sixth largest commercial transaction this year in the state of Arizona according to Loopnet.com. V.P. of Operations and Chief Sustainability Officer Bryan McLaren stated "We are proud to have closed this transaction in such an efficient manner and believe this acquisition will provide increased value for our shareholders. The previous owner managed this property for over 25 years, and we have every intention continuing the sustainable development of the property moving forward. The facility will be managed with the utmost attention to detail and operational compliance increasing the overall prosperity for our neighbors and our community."
Read the entire press release at http://www.fnmprofiles.com/profiles-zdpy.html
This recently acquired property represents a high-quality warehouse space that Zoned Properties, Inc. believes will only increase in value as proven by similar markets such as Denver, Colorado. Properties such as the facility in Tempe have the capacity to garner lease agreements for as much as four times typical market value as the medical marijuana industry expands.
Pot-growing warehouses in short supply as demand for legal weed surges - Booming sales of cannabis have pot merchants scrambling to find enough vacant warehouses suitable for growing their product. In Colorado alone, the newest wave of impact in the industrial market is occurring as recreational pot sales, which began Jan. 1, are robust. State budget officials are projecting sales of $613 million over the next year - more than 50 percent higher than previous projections. That's on top of an estimated $345 million in medical dispensary sales. January sales tax figures released Monday suggest that the market may be smaller than those projections.
Read the full article from the Denver Post how the industry has come on so fast that demand for warehouses is pitting pot dispensary against pot dispensary, while landlords capitalize by charging premium lease rates. http://www.denverpost.com/marijuana/ci_25316132/pot-growing-warehouses-short-supply-demand-legal-weed
Advanced Cannabis Solutions, Inc. (OTCQB: CANN) is a provider of services to the regulated cannabis industry throughout the United States and leases growing space and related facilities (commercial real estate and equipment) to licensed marijuana business operators for their production needs. Marijuana usage is on the verge of becoming main-stream with the US Public and has the strong potential to become a big business. The market is expected to grow over 64% to $2.4 Billion in 2014 and investors are diving in. One area of focus gaining attention is real estate and growing. On Monday, CANN closed up 3.22% on over 94k shares traded.
Medbox, Inc.'s (OTCPink: MDBX) founder and Chief Operations Officer, Vincent Mehdizadeh, recently announced that he has personally funded campaigns aimed at educating the general public as to all aspects of cannabis in medical and recreational states. A public awareness campaign led by Americans for Safe Access(ASA), an organization dedicated to ensuring safe and legal access to cannabis (marijuana) for therapeutic uses and research, is designed to better inform the national dialogue on medical cannabis by first letting the public know that cannabis medicines can be regulated and secondly that the therapeutic experience of the over one million legal medical cannabis patients goes beyond "feeling better." The campaign will include production of new materials and ads, new communication outreach, and grassroots education campaigns to empower citizen-advocates to participate in the effort nationwide.
GW Pharmaceuticals plc (NASDAQ: GWPH) a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, recently provided an update on the Company's cannabinoid pipeline. "While much of the recent attention regarding GW has been associated with our childhood epilepsy and cancer pain development programs, we continue to make great progress with other pipeline programs, further demonstrating the breadth of our proprietary cannabinoid product development platform to yield interesting and therapeutically beneficial product candidates." stated Dr. Stephen Wright, GW's Director of Research and Development. "As GW continues to progress its clinical work with cannabinoids, our pipeline has the potential to yield, as it did with Epidiolex, a flow of exciting new product candidates in a wide variety of therapeutic areas."
Growlife, Inc. (OTCBB: PHOT) a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services of legal cannabis, is pleased to announce a Joint Venture (JV) with Vape Holdings, Inc. (OTC: VAPE) to fund the research and development of patentable technology to create pharmaceutical grade extractions from cannabis. Each Company will bring its specific expertise to the Joint Venture; GrowLife providing Equipment Manufacturing while Vape Holdings provides guidance for the process technology and concentrate formulas. Cannabis extractions are a rapidly growing market segment of the legal cannabis market, and believed by many, including the partners, to be a significant part of the future of cannabis as consumers transition from the carcinogens often included with historical methods of drug delivery, to the more modern, safer, and efficient systems reliant on cannabis extracts. To that end, the partners in the Joint Venture are intent on introducing medical, food and pharma grade practices into the cannabis industry; from cultivation to extraction to delivery. The Joint Venture looks to service a void in the industry with regard to SOPs (Standard Operating Procedures) and GMPs (Good Manufacturing Practices), which are instrumental in all regulated food and pharma grade production/manufacturing.
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