500 N 3rd St
Real Estate Investment For The Cannabis Industry.
Raised to Date: Raised: $18,750
Aggregate Commitments $
Rolling Commitments $
Do you live in the Reading, PA area? Are you interested in profiting from the new Medical Marijuana Program? If this sounds like you, then consider investing in 500 N 3rd St., LLC. They’re a real estate holding company intending to lease space to a medical marijuana grower and processor in Reading, PA.
500 N 3rd St., LLC is a real estate holding company who is intends to lease space to a medical marijuana grower and processor. Located in Reading, PA, the space they’re leasing is a 125,797 square foot building that was formerly a textile mill. The location is strategic, favorable for approval, and will help create jobs and generate tax revenue. 500 N 3rd St. is capitalizing on the fact that, in 2016, Pennsylvania signed into law the Medical Marijuana Program, which legalized indoor cultivation and fabrication of medical marijuana products. Now, according to New Frontier, the medical marijuana market in PA is expected to reach $980M in sales by 2020, and ArcView Market Research predicts it will be one of the largest in the country. For this space in Reading, 500 N 3rd St. will make 4,280 units available at $250, for a total of $1.07M. They will also lease on a triple-net basis, which is where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance on the property, as well as any normal fees that are expected under the agreement. 500 N 3rd St. aims to become the largest medical marijuana grow real estate developer on the East Coast, and this campaign is one of their first steps in achieving that goal.
The Bottom Line:
500 N 3rd St has figured out a way to combine their passion for real estate with the medical marijuana industry...and they’re moving quickly to profit from both. Investing in them will help support revenue and jobs in Reading, PA, as well as benefit from the opportunities the Medical Marijuana Program is providing.
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