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Zoned Properties Inc (ZDPY) has issued an announcement.
ZP RE Holdings, LLC, a subsidiary of Zoned Properties, Inc., is set to acquire a property in Surprise, Arizona, for $1.1 million, following the receipt of cannabis entitlements for a dispensary. The seller has agreed to make improvements to the property, with ZP Holdings reimbursing up to $600,000 for the work. Additionally, ZP Holdings has entered into a 15-year lease agreement with The Pharm, LLC for the property, including tenant improvements worth up to $1 million. The deal is contingent upon certain conditions, such as the completion of improvements and the satisfactory inspection of the property.
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