Grow Condos (OTCQB: GRWC) is the world’s first publicly-traded real estate company, dedicated exclusively to serving the Cannabis industry. We own, develop, and manage industrial multi-tenant properties designed to function as high tech harvesting facilities. It’s our mission to deliver turn-key cultivation operations fortified with a full spectrum of services from customized housing and staffing to expert advisory and consulting services.
Right now, it’s estimated that the U.S. cannabis consumer market for legalized recreational and medicinal use was $4.4 billion in 2015 and in all likelihood will grow to $9.5 billion in 2019. Once legalized federally, it’s estimated this market will grow to $37 billion within 5 years and $50 billion within 10 years.
Cannabinoid therapeutic applications have been identified for more than 40 medical conditions including arthritis, cancer, chronic pain, epilepsy, glaucoma and HIV/ AIDS and that it’s believed that the future cannabinoid-based pharmaceuticals market may ultimately exceed $50 billion.
That industry experts believe that with the states increasingly accepting Marijuana; that federal legalization is not a question of if but rather when. Just like it all happened with lift prohibition in in the 1920’s. It’s time has come.
Our company is taking a very unique approach to this explosive industry. Its very similar to the "Pick and Shovel approach that was used back in the Gold Rush and the Great Land Grab of the Unites States. We believe the greatest opportunities and leverage are not in the Marijuana per sa but rather in the supplying the industry itself. And that, the greatest and most profitable opportunities will be in Real Estate, Education and Advisory Services.
Already, right now our company owns and operates our first 10 unit facility based in Medford Oregon. This initial complex is already fully rented out with a long waiting list. This initial first facility is where the initial inception of Grow Condo’s was initially developed was when we discovered just how much that tenants were passionate with their units and how willing they are to spend big money on leasehold improvements and on customizing their individual units in order to fulfill that passion. It was then when we discovered we wanted to be in the business of helping marijuana industry professionals fulfill their passion and make real estate the cornerstone and backbone of the Grow Condo’s business model.
The Grow Condos structure can be broken down into 3 main revenue generating facets:
On the Real Estate side we recently closed on our second facility based in Eugene Oregon and are beginning to implement the second phase of our model. The Eugene property calls for a much larger development of 5 buildings and 37 units total. While unit is estimated to be sold for $150,000 to $175,000 per empty shell we believe that typical spends can reach up to $400,000 when you add lighting, shelves, engineering etc.
Management believes there is a tremendous opportunity to build out a national footprint across the USA for this formula as more and more states make Marijuana legal.
Our second Real Estate play that we are equally excited about is our recreational RV park called "Smoke on the Water". Another first to the industry "Smoke on the Water" aims to build fun and exciting new twist for campers wanting a unique recreational marijuana camping experience in legal states.