Located in an established agricultural area, New Age Farm’s Sumas, Washington Campus spans 3 acres and is home to 6700 square feet of existing agricultural buildings. The property meets the zoning requirements for already licenced Tenant Growers to cultivate marijuana plants. Site preparations have already begun. We have signed one Tier 3 Tenant Grower, who will move in after the build-out is completed. New Age Farm will keep stakeholders up to date as the project progresses.
The Company acquired the Sumas Property in 2014 and has completed certain required security upgrades to allow the Company to lease the property to I-502 licensed tenant-growers. In 2016, the Company acquired an equity partner in the Sumas Property which will allow the Company to move forward with upgrades and build outs at a faster rate. The Company focused much of its energy on the Oroville Property in 2016 and, with the acquisition of the equity partner, expects that 2017 will see further progress in Sumas while the Company continues its efforts to bring Oroville to full capacity as soon as possible.