RIPCO Real Estate (RIPCO), the most active full-service brokerage in the tri-state, with services including leasing, investment sales and property management and debt and structured finance, has announced the public listing for a 1,000,000-square-foot cannabis facility in Utica, New York with its development firm partner, Zoned Properties.
The property includes the below highlights:
· 1,000,000+/- square feet of greenhouse and warehouse facilities across 60+/- acres
· Property available for sale or lease transactions
· National Grid power access with existing 20,000 amps service on site
· City Water and Sewer serving the entire property
· Fully approved zoning with strong support from the City of Utica
· Capability for quick-to-market operations with significant growth upside
· Advisory team available to assist interested operators with cannabis-specific project items
The property’s listing team includes Stephen Preuss, Colby Piper and Kevin Louie from RIPCO.
“RIPCO is excited to serve as the brokerage bringing this property to market. As the cannabis industry is expanding on the East Coast, we are confident that this listing will bring unique value to the area,” said, Piper, cannabis real estate specialist at RIPCO. “This large facility will meet the needs of an investor or buyer looking to operate a quick-to-market cannabis operation with the opportunity for significant growth.”
“This cannabis approved property plus our experienced real estate project team behind it, creates a cannabis operator’s ideal situation. After nearly a decade of Zoned Properties working on commercial real estate projects specifically in the regulated cannabis industry, it is extremely rare to find a site as well positioned as this Utica property,” said Patrick Moroney, Director of Real Estate for Zoned Properties. “In this case, we have a property owner, brokerage team, and advisory team all included in the transaction brain trust to support a buyer or tenant operator with cannabis-specific expertise.”