Zoned Properties Plans Further Portfolio Expansion with New License Awards in Ohio to Multi-State Operator Clients, Improving Growth Outlook

SCOTTSDALE, AZ / ACCESSWIRE / July 23, 2024 / Zoned Properties®, Inc. (“Zoned Properties” or the “Company”) (OTCQB:ZDPY), a technology-driven real estate investment firm for emerging and highly regulated industries including legalized cannabis, is pleased to announce its plans for continued expansion with five new properties secured in Ohio, in addition to select tenants initially awarded new adult-use licenses in the state. Existing Ohio medical license holders will receive at least one new adult-use location, with some growers receiving up to three additional locations.

Within the new adult-use market and licensing process, the State of Ohio held a lottery to determine a draft order for Phase I site selection. The first choice could submit a location anywhere in the state, with subsequent choices having to be outside of a one-mile radius of the previous selection. Zoned Properties’ dealmaking team strategically located and secured sites in key market locations throughout Ohio and secured control of these properties to market to applicant operators. Five of these properties have received preliminary approval from the State of Ohio, with tier-one multi-state operators in major metropolitan areas. The process will now enter a 45-day period where the state will review additional information about the applicants and locations before formally issuing preliminary licenses, allowing operators to move forward with development.

This milestone reflects Zoned Properties’ decades-long commitment to building a national reputation and network with leading cannabis dispensary operators. The company now works with Tier 1 and Tier 2 multi-state operators as a trusted partner to provide real estate for new state license applications and multi-state expansion strategies.

In addition to Ohio, Zoned Properties is also working with Tier 1 and Tier 2 operators in Kentucky and Maryland, with the expectation that these engagements will provide further opportunities to scale the portfolio. These recent location and licensing wins underscore Zoned Properties’ value proposition and the company’s ecosystem that fosters deal flow with top-tier cannabis operators, allowing Zoned Properties to acquire value-add real estate with attractive investment return opportunities.

Management Comment:

Bryan McLaren, CEO of Zoned Properties, said, “We are excited to see our strategic efforts pay off as we thoughtfully expand our direct-to-consumer real estate portfolio. The trust our clients and potential tenants have placed in us to secure premium locations for license wins underscores our commitment to supporting the growth of the cannabis industry. We look forward to continuing this momentum and expanding our real estate portfolio with best-in-class operators.”

Information about Zoned Properties, Inc. (OTCQB:ZDPY):

Zoned Properties Inc. (“Zoned Properties” or the “Company”) (OTCQB:ZDPY) is a technology-driven real estate investment company focused on acquiring value-added properties within the regulated cannabis industry in the United States. The Company strives to innovate in the real estate development sector, with a focus on direct-to-consumer properties leased to top cannabis retailers.

Headquartered in Scottsdale, Arizona, Zoned Properties is redefining the approach to commercial real estate investing through its standardized investment process powered by proprietary real estate technology. Zoned Properties has developed a national ecosystem of real estate services to support its real estate development model, including a commercial real estate brokerage and a real estate advisory practice. With a decade of national experience and a team of experts dedicated to the emerging cannabis industry, Zoned Properties focuses on the specific needs of a modern market in highly regulated industries. The company targets commercial properties that face unique zoning or development challenges, identifies solutions that have the potential to significantly impact their commercial value, and then works to acquire the properties while securing long-term leases with absolute net returns.

Zoned Properties focuses on commercial properties that can be acquired and rezoned for specific purposes, including the regulated and legalized cannabis industry. The Company does not grow, harvest, sell or distribute cannabis or other substances regulated by U.S. law, including the Controlled Substance Act of 1970, as amended (the “CSA”). Zoned Properties is headquartered at 8360 E. Raintree Dr., Suite 230, Scottsdale, Arizona. For more information, please call 877-360-8839 or visit www.ZonedProperties.com.

Twitter: @ZonedProperties
LinkedIn:@ZonedProperties

Safe Harbor Statement

This press release contains forward-looking statements. All statements that are not statements of historical fact included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements involve risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Company’s filings with the Securities and Exchange Commission. Investors should not place undue reliance on forward-looking statements because they involve known and unknown uncertainties and other factors, some of which are beyond the Company’s control, which may, and are likely to, materially affect actual results, levels of activity, performance or achievements. Each forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions regarding business, results of operations, growth strategy and liquidity. The Company undertakes no obligation to publicly update or revise these forward-looking statements for any reason or to update the reasons why actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor Relations

Zoned Properties, Inc.
Bryan McLaren
Phone (877) 360-8839
(e-mail address)
www.zonedproperties.com

SOURCE: Zoned Properties, Inc.