Generation Alpha has announced the closing of a significant transaction for the Company with the purchase of an approximately 46,000 sq. ft. facility in Phoenix, Arizona. "This facility comes with an already-approved Special Use Permit for the cultivation and processing of medical cannabis in the State of Arizona and is ideally located less than 10 miles from Phoenix’s Sky Harbor International Airport", the company explains.
"In 2018, Generation Alpha acquired an Arizona-based company to provide turn-key services for the management, administration, and operation of a medical marijuana cultivation and processing facility, on behalf of an entity duly authorized and licensed by the Arizona Department of Health Services. After terminating, earlier this year, the commercial lease for another property in Arizona, which the company intended to serve as its cultivation and extraction facility, the company decided to purchase this facility for $3.5 million, which will allow for future improvements to flow directly through to the company’s balance sheet."
Alan Lien, Generation Alpha’s Chief Executive Officer, commented: “This is an incredible deal for Generation Alpha. This facility, which has been locally permitted for medical cannabis cultivation and processing, will allow us to fast track operations in Arizona – an area we believe is one of the key growth markets in the U.S. medical cannabis sector.”
For more information:
Generation Alpha
(888) 998-8881 x201
[email protected]
genalphainc.com