Advanced Cannabis Solutions (OTCBB: CANN), a firm offering real estate leasing, consulting, and ancillary products to the U.S. medical marijuana and cannabis industry, executed a definitive agreement to acquire its first commercial real estate property in Pueblo County, Colorado and officially closed the transaction as of December 31, 2013.
Management plans to enter into many such sale-leaseback transactions within the cannabis industry’s commercial real estate market. The transactions provide grow operations with additional capital to expand their operations, along with stable long-term leases. This relationship allows Advanced Cannabis Solutions shareholders to have a unique play in the Cannabis market.
Investors in the cannabis industry, including companies like MedBox Inc. (OTCBB: MDBX) or Peoplestring Corp. (OTCBB: PLPE), may want to take a closer look at Advanced Cannabis Solutions as management executes upon this innovative plan to produce long term recurring revenue.
Read the full press release announcing the acquisition here:
Advanced Cannabis Solutions (ACS) (OTCBB: CANN) announced today that it closed on the purchase of a commercial grow facility in Pueblo County on December 31, 2013. The purchase represents the Company's first asset acquisition and consists of a 5,000 square foot functioning grow facility on 3 acres of land. The tenant is aggressively expanding their operation and will utilize the excess land to develop up to an additional 40,000 square feet of light deprivation greenhouse grow space. These improvements are part of the Company's development plan for the property and the Company intends to build them out in stages in the near future.
ACS President and CEO Robert Frichtel stated, "This acquisition is very important to the ACS, not only because it represents our initial entry into the Colorado legal marijuana real estate space, but also because it has the potential to become the largest grow center in the Pueblo area. Pueblo County's marijuana industry is in a unique position to grow dramatically, as there are a limited number of properly zoned and approved grow facilities, and the demand from the southern Colorado area is expected to increase significantly."
About Advanced Cannabis Solutions:
ACS serves the cannabis industry by providing the following three distinct areas of products and services: real estate, consulting, and ancillary products. ACSs work exclusively with licensed and regulated clients and does not grow, harvest, distribute or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.
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