- Cannabis retail dispensaries in Arizona have grown to upwards of 168 locations as of January 2024
- Nonetheless, only 1% of Arizona’s commercial properties are eligible for use by the cannabis industry
- Zoned Properties has been a key partner for the industry in helping cannabis companies establish a physical retail presence
- The company has recently announced the approval of a $1 million share buyback plan
The legalized sale of recreational cannabis in Arizona has grown from strength to strength. Possession and cultivation of cannabis across the state became legal on November 30, 2020, with the state-licensed sale of recreational cannabis commencing on January 22, 2021 making Arizona the quickest state in U.S. history to begin retail sales post recreational legalization. Cannabis sales in the state drove over $1.4 billion in revenues in 2023, with the number of dispensaries swelling to 292 as of January 2024 (https://cnw.fm/UyEP2). Nevertheless, further expansion for the industry is easier said than done; at present, only 1 percent of Arizona’s commercial real estate properties are applicable to cannabis operators, imposing a further constraint on the growth and development of the state’s cannabis retail market.
Zoned Properties (OTCQB: ZDPY), a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States, has been amongst the early leaders in facilitating the transition of the cannabis industry towards the…
NOTE TO INVESTORS: The latest news and updates relating to ZDPY are available in the company’s newsroom at https://cnw.fm/ZDPY
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