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Wal-Mart parking property in Washington to be turned into marijuana land

Staff Writer | February 13, 2017
Marapharm Ventures' subsidiary Marapharm WA has entered into an agreement to purchase 13.6 acres of industrial, highway frontage property located a few minutes south of the Canadian border for $4.2 million.
Marapharm WA
Acquisition   13.6 acres of industrial property
The transaction should close on or before February 28, 2017.

Previously, on June 16, 2016, the company announced that it had concluded a deal for a lease of a 30,000 square foot building and an option to purchase 13.6 acres of industrial property located in Whatcom County, Washington State.

Further, on August 17, 2016, Marapharm announced that Marapharm WA had closed on the purchase of the assets of a 30,000 square foot operating tier 3 marijuana cultivation and processing facility, located in Washington State and on September 27, 2016 and November 1, 2016 provided updates with regard to the Washington operations.

Marapharm has been making lease payments on the property and has chosen to act on the option to purchase the land.

The 13.6 acres is appropriately zoned for Washington States I-502 marijuana cultivation and processing requirements.

There are currently multiple buildings on the property, including the 30,000 square foot building with marijuana cultivation and processing licenses, a 9,190 square foot truck wash building, a 7,200 square foot mechanic shop, a 2208 square foot office building and large sheds.

Wal-Mart presently uses an area of the property for truck and trailer parking. There is ample room for further development.


 

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