CannaMed Pharmaceuticals has closed on the purchase of an industrial warehouse building in Hebron, MD. for $950,000. Sitting on a 7.4 acre site the 47,226 sqf building is located at 27120 Ocean Gateway. CannaMed is a prospective licensee for one of 15 medical cannabis growing licenses to be issued in Maryland. The company plans to house their growing facility in the production warehouse, using 35,000 sqf to grow with the additional 6,000 sqf building dedicated for the research and development of medical cannabis. The Maryland licenses are expected to be issued in the summer of 2016.
“This was the first closed sale among the large number of potential licensees I have worked with under the new Maryland Medical Marijuana Legislation,” said John McClellan, Senior Advisor with SVN | Miller Commercial Real Estate. “This industry represents a vastly untapped opportunity to create significant economic developments with the creation of medical research employment.”
