AgTech Scientifc Group is selling its 1.87 million-sq.-ft., 151-acre greenhouse complex based in Lexington, Kentucky. The assets, which are being offered separately, were previously used as part of AgTech Scientific's large-scale hemp-growing and CBD-production operations in Kentucky.
Although there is no price stated for the complex, interested parties can now place their bids.
"With the oversupply of hemp in the United States, many CBD producers continue to face challenges in today's marketplace," noted Emilio Amendola, Co-President of A&G, the company overlooking the sale. "Nonetheless, other agricultural companies, as well as healthy hemp and CBD producers, now have the opportunity to acquire high-quality growing and production assets such as these at significantly below replacement value."
Zoned A-1 Agricultural, the 151-acre parcel includes multiple greenhouse ranges totaling 1.57 million square feet, along with 155,000 square feet of warehouse and office space and 150,000 square feet of polytunnels. More specifically, the complex includes a main office/production barn, a shipping building, two storage buildings, and six greenhouse ranges, each of which totals approximately 270,000 to 280,000 square feet. The site's 13 Gothic-style Quonset buildings each total 11,520 square feet.
With an irrigation system sourced by a large lake on the property, the Bourbon County complex was built in 2001 to grow ornamental flowers and was expanded multiple times through 2018. It was converted to the cultivation of hemp for CBD use in 2019. The east side of the greenhouse range features two separate water tank rooms housing a total of three 20,000-gallon tanks and one 100,000-gallon tank.
The offsite facility, which was built in 2020, is located on 10 acres at 333 Cleveland Road and is zoned I-1. All told, the facility includes 24,000 square feet of production space, 22,000 square feet of warehouse, and 4,500 square feet of office space. Features include two dock high doors, a drive-in door, steel/masonry construction, and construction up to the C1D2 fireproof standard.
For more information:
A&G Real Estate Partners & Murray Wise Associates