SACRAMENTO, Calif., Feb. 20, 2018 /PRNewswire-PRWeb/ — Canna-Hub, a California-based real estate development and property management Company for the cannabis industry, today announced it is accepting lease commitments at a new 16-acre community in the city of Mendota, California.
With over 100,000 square feet of retrofitted cold storage space available in Mendota, this Canna-Hub Business Community, or “cannabis hub,” will be able to accommodate numerous license types with the ability for operators to secure as little as 5,000 square feet in multi-tenant buildings. The Mendota cannabis hub has already received local city zoning and authorization for indoor cultivation, greenhouses, nurseries, volatile and non-volatile manufacturing, tissue culture labs, third-party testing labs, distribution and transport.
Canna-Hub previously announced it is also accepting lease commitments for a first-of-its-kind cannabis business community in Williams, California, making Mendota the second cannabis hub now available for lease commitments with sophisticated cannabis operators.
“We worked closely with city officials and local stakeholders in both communities to approve the lowest local permitting fees in California,” said Canna-Hub Founder and CEO Tim McGraw, a commercial real estate developer who has also designed or built cannabis-specific facilities in several states and abroad, and has overseen cultivation, manufacturing, distribution and security of the largest cannabis operation in Illinois. “Canna-Hub operators in both Williams and Mendota will pay a low per square foot permit fee with no revenue tax. We negotiate favorable terms for our operators to ensure their long-term success, and are committed to being an asset to our partner cities by spurring economic activity that will create jobs and contribute to the local tax base.”
Canna-Hub will provide operators proof of zoning approval for submission with their state license applications immediately upon the execution of a lease agreement at its Mendota site, helping cannabis licensees cut through the red tape to become operational as quickly as possible. In 2018, California cannabis sales are projected to hit $5 billion, according to a California-sponsored economic study.
“It was evident after meeting with the Canna-Hub team that this is the type of forward-looking development we want here in the City of Mendota,” said Mendota City Manager Vince DiMaggio. “We welcome the opportunity to create jobs and look forward to the positive impact this new business park will have on Mendota for years to come.”
McGraw recently discussed investment opportunities in the cannabis space with The New York Times. Click here to read the article titled, “As States Legalize Marijuana, Investors See an Opportunity.”
For more information on securing space in Canna-Hub’s Mendota, California, cannabis hub, visit: http://www.Canna-Hub.com or call 916-620-7999.
CHH LLC (dba Canna-Hub) was formed in 2017 for the sole purpose of identifying, acquiring, and developing lower cost properties without cannabis zoning while simultaneously working closely with city government officials to effect zoning changes on the identified property. Canna-Hub plans to build the most sophisticated and valuable real estate portfolio in the cannabis industry. For details on Canna-Hub and location specifics, visit http://www.canna-hub.com.
Public Relations Contact:
Chief Executive Officer
Investor Relations Contact:
Chief Financial Officer, Canna-Hub
Sales and Leasing Contact:
Fernando Russo or Kimberly McGraw