CROP has completed the retrofit and upgrades at its ‘The Park’ state-of-the-art facility in Washington State. Crop’s licensed tenant grower there has now advised that it expects to harvest an initial 350 pounds of cannabis within six weeks and will be at full scale production in September 2018.
The Park cannabis greenhouse is 35,000 sqft and sits on approximately nine acres of land. The facility recently underwent a complete retro-fit for hydroponic automation and the addition of 500 Gavita HPS grow lights. The greenhouse facility has five flowering bays that are designed to yield, at full scale production, approximately 12,000 pounds of high quality cannabis annually (~1,000 pounds per month). The facility requires no additional capex for upgrades in order that the tenant may reach full commercial production.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “With all of CROP’s facilities’ tenants now expecting to harvest, the company’s real estate and brand portfolio should begin to provide all important regular cash flow while building equity in the IP of our brands. CROP will now be able to benefit from its real-estate backed, reoccurring revenue model while expanding into other favorable legal cannabis jurisdictions.”