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Zoned Properties Inc (ZDPY) has issued an announcement.
ZP RE Holdings, LLC, a subsidiary of Zoned Properties, Inc., is set to acquire a property in Surprise, Arizona, for $1.1 million, following the receipt of cannabis entitlements for a dispensary. The seller has agreed to make improvements to the property, with ZP Holdings reimbursing up to $600,000 for the work. Additionally, ZP Holdings has entered into a 15-year lease agreement with The Pharm, LLC for the property, including tenant improvements worth up to $1 million. The deal is contingent upon certain conditions, such as the completion of improvements and the satisfactory inspection of the property.
Find detailed analytics on ZDPY stock on TipRanks’ Stock Analysis page.