Agritek Holdings has entered into an agreement to acquire for a sale lease back its first cannabis zoned industrial property located in Pompano Beach, Fla. "The 15,000-square-foot building, originally zoned as a licensed methadone clinic, has met initial zoning approval as the first property within the Florida municipality for licensed cultivation or manufacturing operation," the team with the company explains. "Agritek Holdings will acquire the property from a Maryland-based real estate investment trust now partnered with the company for future property acquisitions within the sector."
“The rental income and advisory services proceeds generated from our newly expanding real estate portfolio will be utilized to create long-term shareholder value through the build out of our acquisition efforts to further expand our footprint within the cannabis sector,” stated B. Michael Friedman, interim CEO of Agritek Holdings.
"This sale-leaseback transaction will mark Agritek Holdings’ first proposed property acquisition and leaseback transaction this year, with additional proposed transactions for GMP facilities in both California and Oregon expected to be completed upon additional funding of its real estate division," the company concludes.
For more information:
Agritek Holdings
777 Brickell Avenue
Suite #500
Miami, Florida 33131
305.721.2727
[email protected]
agritekholdings.com