American Green, Inc. has purchased the 40,000 square foot building known as American Green's “Cypress Chill” cannabis facility located at 2325 W. Cypress St.Phoenix, AZ. 85009. The building sits on a 62,000 square foot site and was previously leased by ERBB in August 2021 with an option to buy.

American Green has exercised its option to buy the building and now owns it. The purchase price was set at $3.75 million at the time of the signing of the lease last year. Recently, the building was professionally appraised for $5.3 million, giving American Green $1.55 million of additional equity, at the time of closing.

When added to the down payment of $1.123 million, there is now a total of $2.673 million of equity in the new “Cypress Chill” cannabis grow building.