EAGLE POINT, OR — (Marketwired) — 04/28/16 — Grow Condos, Inc., a fully reporting publicly traded company under the trading symbol (OTC PINK: GRWC), a real estate purchaser, developer & manager of specific use industrial properties providing “condo” style turn-key grow facilities to support the cannabis industry, is pleased that it has closed on the purchase of the land to support an additional 35 units under management in Eugene, Oregon.
Plans call for the Eugene project to be developed and sold into industrial condominiums for approximately $150,000 per each unit for the basic shell. The company discovered in our first development in Medford (now 100% fully occupied; a rental unit development) that there is also a tremendous opportunity to offer customized units with the variety of types of growers. In addition the company expects to earn additional ancillary income for its advisory and consulting services.
“We are very excited to have closed on our 2nd facility and we have already begun targeting suitable locations for our 3rd facility. We believe that once we have laid down a proper foundation there is a tremendous opportunity to build a national footprint of professional industrial condominium facility parks specifically targeted to the marijuana industry,” said Wayne Zallen, CEO.
About Grow Condos, Inc. Grow Condos is a fully reporting publicly traded company listed under the symbol GRWC: Pink Sheets. It is a real estate purchaser, developer & manager of specific use industrial properties providing “condo” style turn-key grow facilities to support the cannabis industry. We own, lease, sell and manage multi-tenant properties.
Like during the Gold Rush days in California, Grow Condos is focused on a pick-and-shovel approach to participating in the exploding marijuana industry. We finance the purchase and/or development of properties by offering investors private placement sponsorships, debt instruments, or limited partnerships. We believe there is a significant investor demand for such opportunities. Currently we own and manage a 15,000 square foot warehouse in Eagle Point, Oregon, own and are developing a property in Eugene, Oregon and are currently looking into other acquisitions in Oregon, Colorado, Washington, California and Nevada with like-minded investors who want to share in the growth of this dynamic new industry.
Additionally the company currently has an additional line of products and services to offer our partners, customers and tenants.
Safe Harbor: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Grow Condos, Inc, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Grow Condos, Inc. ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Grow Condos, Inc. filings with the OTC Markets, Securities and Exchange Commission and/or the company’s website.
Source: Grow Condos, Inc.