Article by TG Branfalt Jr., Ganjapreneur
Construction on a 1 million-square-foot canna-business park in Freetown, Massachusetts operated by Americann is slated to begin in March, according to a Quartz report. Businesses that lease or buy space in the park will be given streamlined preferential licensing thanks to an agreement between Americann and the city.
Space at the park will only be available to companies registered under the state Medical Marijuana Program and will include a 130,000-square-foot cultivation and processing space, a testing laboratory, corporate offices, training centers, and a 30,000-square-foot research and development center. In an interview with the Boston Business Journal,Americann CEO Tim Kough said development for the first phase of construction could run $25 million.
In a statement, Americann said the facility “will set a new cannabis industry standard for energy efficiency, cost control, clean cultivation practices, and the production of Nutraceutical-grade infused products for the patients of Massachusetts.”
The site was purchased by the Boston Beer Co., makers of Samuel Adams and Angry Orchard hard ciders, for $6 million in 2007. The company planned to build a brewery, however those plans fell through and the site was relisted for sale in 2008. Americann, who is based in Colorado, bought the property in the fall for $4.475 million.