A large property specifically purchased in order to attract medical marijuana companies has been finalized in Tempe, Arizona this past week. Real estate company Zoned Properties, has made a name for itself in the Arizona area by catering to marijuana businesses over the last couple of years, and their new 5 million dollar property deal is their biggest to date.
It’s easy to see that property locations similar to this five-acre industrial park in Tempe are worth the investment when you look at other marijuana-friendly cities like Denver and how quickly similar properties’ values are increasing. Many of these properties are going for nearly four times the average, simply as a result of the potential for medical marijuana cultivation centers.
As is the case when medical marijuana moves into any residential area, developers are being careful not to upset the already existent community by keeping them involved. Bryan McLaren, Chief Sustainability Officer of Zoned Properties said “the facility will be managed with the utmost attention to detail and operational compliance increasing the overall prosperity for our neighbors and our community.”
The new office space is expected to lease space to multiple medical marijuana related businesses, such asoffices or cultivation centers.