John McClellan, senior advisor with SVN | Miller Commercial Real Estate aided in the closing on the former Match facility in Hebron, MD.
The property, located at 27120 Ocean Gateway, includes a 47,226 SF industrial/warehouse building on 7.4 acres of land. The building was purchased by CannaMed Pharmaceuticals, LLC, a prospective licensee for one of 15 medical marijuana growing licenses to be issued in Maryland. Licenses are expected to be issued this summer.
CannaMed intends to use the property to house their growing facility in the production warehouse, using 35,000 square feet with the additional 6,000 square feet dedicated to the research and development of medical cannabis. The building was sold for $950,000.
“This was the first closed sale among the large number of potential licensees I have worked with under the new Maryland Medical Marijuana Legislation,” said McClellan. “This industry represents a vastly untapped opportunity to create significant economic developments with the creation of medical research employment.”
Delaware is now moving toward a medical marijuana site in neighboring Sussex County after opening the first cannabis site in northern Delaware. Hebron is about 9 miles west of the Sussex County line.
SVN | Miller Commercial Real Estate has offices in Salisbury, MD, Annapolis, MD, Bethesda, MD, Seaford, DE, and Wilmington, DE
