WASHINGTON TIER III INDOOR PRODUCER/PROCESSOR
Washington State Tier III indoor cannabis grow facility (30,000 sq. ft.) conveniently located in Vancouver, WA just off of SR 500 and I-205. Zoned light industrial. Approximately 52,000 square feet of useable space, including approximately 30,000 square feet of canopy space. Plenty of space onsite to set up a full concentrate and extract lab. Five-year lease with two five-year options.
Operating Tier III Indoor Producer and Processor licenses, which allows for the maximum amount of flower canopy pursuant to state law and production of a full range of extracts, concentrates, and infused products. Washington State is not issuing more cannabis licenses, so this is a great opportunity to enter the Washington market.
Over $3 million in tenant improvements, furniture, fixtures, and equipment. Facility includes necessary electrical upgrades, 820 1000 watt Gavita style grow lights, rolling tables, HVAC systems including energy efficient chilled water cooling and A/C split system, security cameras and DVRs, and security alarm system. Features include two loading docks, fire sprinklers, ample off-street parking, and office space.
The facility has been approved by the Washington Liquor and Cannabis Board, and been in continuous operation since June 2016. Established customer base and brand loyalty, with market dominance in the southwest Washington market. At full capacity the facility can produce approximately 800 pounds of cannabis per month, pre-rolls, extracts, and concentrates. Great opportunity to operate immediately and build state-wide market share. License holders in Washington must be a resident for three months. Current license holder willing to stay on licenses to facilitate transfer. Two tiered business structure to facilitate improvement financing options and optimal tax allowances.
Current annual gross revenue is approximately $2.5 million, but estimated to increase to over $10 million once the full facility is operational. Strong brand recognition in current markets and a dedicated consumer following. Retailers regularly sell out of the GG#4 flower. Well established genetic pool, with farm unique phenome of GG#4, Washington Glue, Jack Wreck, and Tres Star. Large seed bank, and additional stains in development.