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McClellan Sells Former Matech Facility to Prospective Medical Cannabis Grower

APRIL 2016, SALISBURY, MD John McClellan, CCIM, Senior Advisor with SVN | Miller Commercial Real Estate recently closed on the former Matech facility in Hebron, MD.  The property, located at 27120 Ocean Gateway, includes a 47,226 SF industrial/warehouse building on 7.4 acres of land. The building was purchased by CannaMed Pharmaceuticals, LLC, a prospective licensee for one of only 15 medical cannabis growing licenses to be issued in Maryland. Licenses are expected to be issued in the summer of 2016.

CannaMed intends to use the property to house their growing facility in the production warehouse, using 35,000 SF to grow with the additional 6,000 SF dedicated to the research and development of medical cannabis. The building was sold for $950,000.

“This was the first closed sale among the large number of potential licensees I have worked with under the new Maryland Medical Marijuana Legislation,” said John McClellan. “This industry represents a vastly untapped opportunity to create significant economic developments with the creation of medical research employment.”

For more information about this transaction contact John McClellan at john.mcclellan@svn.com or call 410-543-2440.

SVN-MILLER COMMERCIAL REAL ESTATE

SVN - Miller Commercial Real Estate, with offices in Salisbury, MD, Bethesda, MD, Easton, MD, Seaford, DE, and Onley, VA is a financial services firm specializing in commercial real estate. We provide advisory, brokerage, consultation, leasing and asset and property management services to clients in the Mid-Atlantic Region. We combine a comprehensive national footprint with local decision making, expertise and market-leading execution. We maintain an unequivocal commitment to our clients and community (#SVNgivesback).

SVN - Miller is an Accredited Management Organization® (AMO). Our team of dedicated professionals with market-leading knowledge includes a highly-trained staff of Certified Property Managers® (CPM®), Brokers who hold the prestigious Certified Commercial Investment Member (CCIM) designation, and members of the Society of Industrial and Office Realtors (SIOR).

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