Zoned Properties Expands with Surprise Property Acquisition

Zoned Properties (ZDPY) has issued an announcement.

ZP RE AZ DYSART, LLC, a subsidiary of Zoned Properties, Inc., completed the purchase of the Surprise Property, a tract in Arizona poised for cannabis retail development, for $1.1 million. The deal included agreements for site improvements and a construction loan from Private Money Funding, LLC amounting to $1.62 million, to finance the acquisition and subsequent development by The Pharm, LLC. The acquisition, preceded by multiple amendments and earnest money deposits, culminated in the closing of the sale and a press release on July 10, 2024.

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