Pineapple Express, a Los Angeles company that offers consulting to the cannabis industry, announced Tuesday that it has agreed to purchase nearly 4 acres in Desert Hot Springs. According to the company, the new land would be leased to tenants to grow marijuana.
“We would lease to eight other cultivating tenants, besides our current tenant, on terms that are favorable for the prospective tenants and also beneficial to our growth,” said Matthew Feinstein, chief executive of the company, in a statement.
The company also would like to build cultivation warehouses on the newly purchased land.
Theresa Flynt, Vice President of Business Development, added that tenants in Desert Hot Springs would have a once-in-a-lifetime opportunity to enter the California “Green Rush.”
The purchases of the parcels are expected to close within the next 120 days and are subject to closing conditions.
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