Medican Enterprises Inc.
is in the process of acquiring a 67,000-square-foot facility on 2.55 acres of industrial-zoned land in Phoenix. Expected to close in first quarter 2015, this will launch Medican’s real estate and leasing services business under which the company would lease real estate that is outfitted with turnkey solutions for legally compliant growing facilities to licensed growers. At current market rates the property is estimated to produce annual lease revenues of approximately $1,400,000.
