Agritek Holdings, Inc. to Acquire Florida Zoned Cannabis Property and Enter into Long-Term Lease with Licensed Operator
February 04, 2020 at 08:30 am EST
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Agritek Holdings, Inc. announced that the Company has entered into an agreement to acquire for a sale lease back its first cannabis zoned industrial property located in Pompano Beach, Florida. The 15,000 sq. ft. building originally zoned as a licensed methadone clinic, has met initial zoning approval as the first property within the Florida municipality for licensed cultivation or manufacturing operation. Agritek Holdings will acquire the property from a Maryland based Real Estate Investment Trust now partnered with the Company for future property acquisitions within the sector. Agritek Holdings Inc., with real estate footholds in Colorado, California and Oregon, will seek to fund future real estate properties and development projects within an initial pipeline of properties for sale and leaseback as well as right-of-first-refusal Letters of Intent and contract offers until June 30, 2022. This sale-leaseback transaction will mark Agritek Holdings’ first proposed property acquisition and leaseback transaction this year, with additional proposed transactions for GMP facilities in both California and Oregon expected to be completed upon additional funding of its real estate division.
Agritek Holdings, Inc. is an investor and operator in the legal cannabis sector. Its business focus is primarily to hold, develop and manage real property. It is focused on three segments of the cannabis market, including real estate investment, intellectual property brands, and infrastructure, with operations in United States, including Florida, Colorado, and California. It invests its capital via real estate holdings, licensing agreements, royalties, and equity in acquisition operations. Its business focus is primarily to hold, develop and manage real property. It produces, brands, and distributes hemp-based products. Its product categories include human ingestible (tinctures, capsules, and gummies), topicals, and pet products. Its products are distributed through its e-commerce Websites www.RehabRx.com, Hemppops.com and third-party ecommerce websites. It provides services to the legal cannabis sectors including dispensary and retail solutions and consumer product solutions.
AGRITEK HOLDINGS, INC. 
