McClellan Sells Facility to Prospective Medical Cannabis Grower
APRIL 2016, SALISBURY, MD – John McClellan, CCIM, Senior Advisor with SVN | Miller Commercial Real Estate recently closed on the former Matech facility in Hebron, MD. The property, located at 27120 Ocean Gateway, includes a 47,226 SF industrial/warehouse building on 7.4 acres of land. The building was purchased by CannaMed Pharmaceuticals, LLC, a prospective licensee for one of only 15 medical cannabis growing licenses to be issued in Maryland. Licenses are expected to be issued in the summer of 2016.
CannaMed intends to use the property to house their growing facility in the production warehouse, using 35,000 SF to grow with the additional 6,000 SF dedicated to the research and development of medical cannabis. The building was sold for $950,000.
“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. “This industry represents a vastly untapped opportunity to create significant economic developments with the creation of medical research employment.”
For more information about this transaction contact John McClellan at email@example.com or call 410-543-2440.