Power REIT closes its largest, state-of-the-art cannabis cultivation greenhouse acquisition to date

Name: Power REIT closes its largest, state-of-the-art cannabis cultivation greenhouse acquisition to date
Uploaded: 2021-09-09T12:43:00Z
Description: Power REIT closes its largest, state-of-the-art cannabis cultivation greenhouse acquisition to date

Proactive Published 09/09/2021

Share X in f @

Power REIT (NYSE-A:PW) CEO David Lesser and Jared Schrader tell Proactive it has closed its previously announced acquisition of a state-of-the-art 556,146 square foot (sq ft) cannabis growing greenhouse in Michigan for US$18.4 million.

Lesser and Schrader say the 61-acre facility will be the largest cannabis cultivation facility in Michigan, and is believed to be one of the largest in the US. It has existing plans in place to add another 330,236 sq ft with further land available.