This is being sold by way of court ordered receivership and is subject to court confirmation.
Call For Offers is on January 27th, 2023!
Great opportunity to acquire a cannabis Retail, Delivery and Consumption business in one of the most desired destination cities in all of California, West Hollywood. This license is currently located in a prime location and market that has limited licensing representing a greater value. The current location is about 90% built out and will need further construction in order to complete the buildout and complete the licensing process. This business is being sold by way of court ordered receivership creating one of the cleanest licenses for sale on the market that one could find, meaning there are no prior debts attached to the sale of the business or license.
In 2017, the West Hollywood City Council adopted a cannabis ordinance allowing a variety of cannabis businesses to be licensed in the City. The City of West Hollywood has undertaken a robust, merit-based selection process for cannabis applicants.During the month of May 2018, applicants were allowed to submit cannabis screening applications to the City. The City received over 300 screening applications from over 120 different applicants (most applicants submitted applications in multiple categories). Only the top 8 were selected and granted licenses and this is 1 of the 8!
California recently announced the “Provisional”, or temporary license, program will sunset June 30, 2022 which means that in order to operate legally you must go through the arduous and time consuming process of getting a full “Annual” license or acquire an already existing state provisional license.
Details:
Space: 4,000 Sq. Ft.
Rent: TBD
Lease: TBD
Prime Location in West Hollywood
Buildout: Approximately $1.5M Already Invested Into Buildout
Est. Buildout Invested Needed: Approx: $250K (Est. 6 Week Buildout)
Call for Offers is on January 27th, 2023
License:
On-Site Consumption: THE NEXT BIG THING IN THE CANNABIS INDUSTRY, you can open up a marijuana lounge. The move gives visitors a place to smoke or eat edibles, since many hotels and rental properties don’t allow for smoking. Similar to alcohol, cannabis can’t be consumed in public places.
Retail Storefront: Facility where cannabis, cannabis products, or devices for the use of cannabis or medical cannabis products are offered, either individually or in any combination, for retail sale, including an establishment that delivers, pursuant to express authorization by local ordinance, medical cannabis and medical cannabis products as part of a retail sale.
Asking Price: Call For Offers
Must sign an NDA/Waiver and have proof of financials before any other detailed information is released. This listing is Fully Exclusive only by Green Life Business Group, Inc.
Green Life Business Group, Inc DRE CA LIC# 02061374
Drew Mathews, DRE LIC CA #02091143
Eric Espinoza, DRE LIC CA #02077927
If you have any questions Call Drew at (619) 653-0483 or Eric (858) 245-6324
Or Email : ceo@glbgroupinc.com or eespinoza@glbgroupinc.com
Green Life Business Group Inc. we are here to both help you sell or buy a cannabis business opportunity.
