Zoned Properties, Inc. Agrees to Purchase Multi-tenant Light Industrial Park With Licensed Arizona Medical Marijuana Cultivator Tenant - WAFF-TV: News, Weather and Sports for Huntsville, AL

Zoned Properties, Inc. Agrees to Purchase Multi-tenant Light Industrial Park With Licensed Arizona Medical Marijuana Cultivator Tenant

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SOURCE Zoned Properties, Inc.

83,000 Square Foot Industrial Complex Sits on 5 Acre Parcel in Downtown Tempe, Arizona

SCOTTSDALE, Arizona, February 19, 2014 /PRNewswire/ --

Zoned Properties, Inc. (OTC: ZDPY) http://www.zonedproperties.com, a lessor of land, facilities and equipment to the medical marijuana market has entered into a definitive agreement and opened escrow on a multi-tenant industrial complex in Tempe, Arizona. The company is currently in the due diligence period and expects to close on the property within sixty (60) days.

The facility has several tenants including a state licensed Arizona medical marijuana cultivator. The 83,000 square foot facility sits on 5.3 acres and is being purchased for $4.6 million.

Newly appointed V.P. of Operations and Chief Sustainability Officer Bryan McLaren stated, "This purchase represents the type of commercial transaction that Zoned Properties, Inc. aspires to accomplish. This property is in the heart of downtown Tempe, Arizona located in very close proximity to Phoenix Sky Harbor Airport as well as many major highways. We believe a purchase like this gives us a great asset base to build off as we continue to execute our strategy of acquiring uniquely zoned properties."

Zoned Properties, Inc. CEO Marc Brannigan commented, "We are excited about this transaction. It meets our financial criteria and projections for identifying uniquely zoned propeties. We are currently going through the customary inspections of the physical facilities as well as normal environmental due dilligence."

About Zoned Properties[SM], Inc.:

Zoned Properties[SM], Inc. is a strategic real estate investment firm whose primary focus is acquiring commercial properties that face unique zoning challenges. Zoned Properties[SM], Inc. will acquire commercial properties zoned within a variety of usage types such as industrial, agricultural, as well as mixed use. Zoned Properties[SM], Inc. also targets commercial properties that can be acquired and potentially re-zoned for specific purposes.

For more information please visit http://www.zonedproperties.com

FORWARD-LOOKING STATEMENT AND DISCLOSURE: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the continuation of recent growth rates in the industry; the positioning of Zoned Properties[SM], Inc. in the market; ability to integrate acquired properties and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Zoned Properties[SM], Inc. can successfully execute their business plan. Actual results may differ materially from those contained in the forward-looking statements in this press release.

Investor Contact Information:

Investor Relations
Zoned Properties, Inc.
Phone: +1-877-360-8839
Email: investors@zonedproperties.com

 

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