New York Cannabis Firm Buys Oregon Utility Building for $3M

In another sign of the marijuana industry’s growing national reach, a New York-based real estate firm focused on the cannabis industry has spent $3 million on an industrial building in one of Oregon’s largest cities.

The firm, Kalyx Development, has purchased a 107,000-square foot building from the water and electric agency in Eugene, Oregon, according to the Register-Guard.

Kalyx is buying commercial properties and leasing them to companies involved in the medical marijuana, recreational cannabis and hemp markets.

Oregon is home to a robust medical marijuana industry and is now developing rules for recreational cannabis businesses. It also has an industrial hemp program in place.

So it’s not surprising that the state is drawing attention from ancillary firms such as Kalyx.

The state’s rec industry could get running sooner than expected if a proposal at the state legislature¬†succeeds. The bill¬†would allow existing MMJ dispensaries to begin selling adult-use marijuana on Oct. 1.

Daily News | Ancillary Marijuana Companies | Briefs | Oregon Medical Cannabis Business & Marijuana Legal News | Recreational Marijuana News

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