John Lease Realtors Brokers Medical Marijuana Land Deal

John Jordan | September 2015

HAMPTONBURGH—John Lease III, Broker/Owner of John J. Lease Realtors Commercial Division, announced that the firm brokered the sale of a 40-acre parcel on Neelytown Road in Orange County to Pharmacannis, which has been approved by New York State to grow and sell medical marijuana.

The parcel was sold for $7.6 million and is in the Hudson Valley Crossing subdivision in the Town of Hamptonburgh. The land has all approvals for up to a 400,000 square foot building.

Pharmacannis is among the nation’s leaders in cultivation, research and product preparation of medicinal cannabis and the firm will employ 100 workers. There were 43 applications in New York State for the license to grow medicinal marijuana. Four licenses were granted with Pharmacannis receiving the highest ranking and the only license in Orange County.

John J. Lease’s Jennifer Brenner Livesey represented both the seller and purchaser.

John Jordan
Editor, Real Estate In-Depth