BUZ INVESTORS PRESS RELEASE ZDPY Eliminates Current Debt Zoned Properties, Inc. (ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties

Zoned Properties, Inc. (ZDPY) Establishes Corporate Headquarters at Medical Marijuana Business Park in Tempe

Zoned Properties’ Primary Arizona Tenant Establishes Corporate Headquarters at Medical Marijuana Business Park in Tempe

New Lease Agreement Adds Additional 2,500 square feet of Leased Space

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FOREX INVESTORS   PRESS RELEASE   Zoned Properties, Inc. (ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries, including the licensed medical marijuana industry, today announced it has signed a five-year commercial lease agreement with its primary tenant in Arizona, Hana Meds, to establish their Corporate Headquarters at its Medical Marijuana Business Park in Tempe, Ariz.

The renovated corporate suite includes 2,500 square feet of office and conference space, which will provide a cornerstone to base their corporate operations. Hana Meds will become the premier, anchor tenant for the property. The licensed medical marijuana tenant plans to establish a comprehensive, vertically-integrated operation at the Medical Marijuana Business Park, including all stages of medical marijuana business activities.




Zoned Properties, Inc

 

“We are pleased to further expand our relationship with Hana Meds by providing newly renovated corporate office space that is conveniently located next to their licensed medical marijuana facilities. We are inspired by our tenant’s strategic goals to capture market share by controlling their own standards of product development and distribution within every aspect of the vertically-integrated business process,” commented Bryan McLaren, Chief Executive Officer of Zoned Properties. “The time and effort our team has invested in developing this property as a state-of-the-art, sustainable facility has helped to persuade our tenant to establish its corporate headquarters at the Business Park, validating proof of concept for the property. This agreement demonstrates our mutual commitment to the City of Tempe for economic development as the licensed medical marijuana industry continues its rapid expansion.”

Under the terms of the five-year lease agreement, which commences on July 1, 2017, monthly rental payments of $1,800 per month will begin on October 1, 2017. The tenant expects to generate a significant number of new jobs as their operations continue to grow.

About Zoned Properties, Inc. (ZDPY):

Zoned Properties is a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries, including the licensed medical marijuana industry. The Company acquires commercial properties that face unique zoning challenges and identifies solutions that can potentially have a major impact on the cash flow and property value. Zoned Properties targets commercial properties that can be acquired and re-zoned for specific purposes. Zoned Properties does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substances Act.

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BUZ INVESTORS PRESS RELEASE ZDPY Eliminates Current Debt Zoned Properties, Inc. (ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties

$ZDPY Eliminates Current Debt, Retires $1 Million of Convertible Notes

Zoned Properties Eliminates Current Debt, Retires $1 Million of Convertible Notes

BUZ INVESTORS PRESS RELEASE ZDPY Eliminates Current Debt Zoned Properties, Inc. <span data-recalc-dims=(ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties " width="300" height="168" srcset="https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/04/1ZDPY.banner-1-680x380.jpg?resize=300%2C168 300w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/04/1ZDPY.banner-1-680x380.jpg?resize=680%2C380 680w" sizes="(max-width: 300px) 100vw, 300px" />

BUZ INVESTORS PRESS RELEASE ZDPY Eliminates Current Debt   Zoned Properties, Inc. (ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries, including the licensed medical marijuana industry, today announced the Company has retired $1 million of convertible notes due to mature in August 2017 with a portion of the proceeds from a $2.02 million private placement transaction and a $2.125 million property sale which occurred in January 2017 and March 2017, respectively.
“Retiring and replacing higher cost debt with longer-term financing at an attractive cost of capital lowers our quarterly costs of debt service and puts in place a capital structure that better supports our ongoing property development projects for the long-term,” commented Bryan McLaren, Chief Executive Officer of Zoned Properties. “As a result of the private placement and sale of one of our Tempe properties, we have lowered our cost of unsecured debt by 100 basis points and extended maturities. 100% of our total debt outstanding now matures in 2022.”



ZDPY Eliminates Current Debt

Under the terms of a private placement transaction, in January 2017, the Company issued $2.02 million in five-year convertible notes paying quarterly interest at the rate of 6.0% per annum. A portion of the net proceeds of $1.06 million, excluding transaction costs and other related expenses, was used to repay the Company’s two convertible notes issued in August 2014 for $1 million, in aggregate, and accrued interest of approximately $96,000. The newly placed 2017 convertible notes may be converted at the holder’s option at a conversion price of $5.00 per share.

The 2014 convertible notes, which bore an interest rate of 7% per annum and provided a conversion feature to the Company’s common stock at $5.00 per share, were scheduled to mature in August 2017.

About Zoned Properties, Inc. (ZDPY):

Zoned Properties is a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries, including the licensed medical marijuana industry. The Company acquires commercial properties that face unique zoning challenges and identifies solutions that can potentially have a major impact on the cash flow and property value. Zoned Properties targets commercial properties that can be acquired and re-zoned for specific purposes. Zoned Properties does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substances Act.Like up on FACEBOOK


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Zoned Properties Completes Sale of Tempe Property for $2.125 Million

$ZDPY Completes Sale of Tempe Property for $2.125 Million

Zoned Properties Completes Sale of Tempe Property for $2.125 Million

Company Sells Non-Core, Non-Marijuana Property in Tempe, Ariz.; Proceeds to be Used to Strategically Expand Medical Marijuana Portfolio

Zoned Properties Completes Sale of Tempe Property for $2.125 Million

Buz Investors Zoned Properties Completes Sale  Zoned Properties, Inc. (OTCQX: ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries, including the licensed medical marijuana industry, today announced the Company has completed the sale of one of its properties located in Tempe, Ariz.

The Company sold its property located at 422 S. Madison Dr. in Tempe, Ariz. for a total cash purchase price of $2.125 million. This property was leased to a non-marijuana business, and management viewed it as non-core to the Company’s strategy. The Company expects to utilize the proceeds to retire existing debt, which will free up cash flow to invest in planned leasehold improvements and expansions at its Medical Marijuana Business Park in Tempe, Arizona.

 

 




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Zoned Properties Completes Sale

“We remain committed to building and nurturing a portfolio of properties that are strategically aligned with our focus on emerging industries and that optimize the use of our balance sheet,” commented Bryan McLaren, Chief Executive Officer of Zoned Properties. “The disposition of the Tempe property, which was not central to our vision, will enable us to redeploy capital in a manner that increases our financial flexibility, and that we believe, over time, will generate higher rental revenue and increases in property valuations for the Company’s portfolio.”

About Zoned Properties, Inc. (ZDPY):

Zoned Properties is a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries. The Company acquires commercial properties that face unique zoning challenges and identifies solutions that can potentially have a major impact on the cash flow and value generated. Zoned Properties targets commercial properties that can be acquired and potentially re-zoned for specific purposes. Zoned Properties does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substances Act.



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$ZDPY Strengthens Balance Sheet, Enters 2017 in Strong Position

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Zoned Properties Strengthens Balance Sheet, Enters 2017 in Strong Position for Sustainable Growth
Zoned Properties, Inc. (ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries, including the licensed marijuana industry, today announced that it has taken proactive steps to strengthen the Company’s balance sheet.
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Specifically, the Company has:

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  • Agreed to sell its property at 422 S. Madison Dr. in Tempe, Ariz. for $2.125 million in gross proceeds. This property is leased to a non-marijuana business, and management views it as non-core to the Company’s strategy. $20,000 has been placed into escrow. The sale is expected to close in approximately 60 days, following due diligence, enabling Zoned Properties to be released from the deed of trust related to the property.
  • Received aggregate commitments for $2.020 million in financing from the Company’s Chief Executive Officer and a private investor in the form of convertible debentures bearing an annual interest rate of 6% over a 5-year term. The additional capital will directly contribute to shovel-ready development and expansion plans at the Chino Valley, Arizona cultivation facilities and Tempe, Arizona Medical Marijuana Business Park.

“As we enter 2017, we are in the strongest position in our company’s history, with a streamlined balance sheet, improving access to growth capital and a portfolio of properties well-situated to benefit from the continuing expansion of the licensed marijuana industry,” commented Bryan McLaren, Chief Executive Officer of Zoned Properties. “During 2016, we cleared the path to expand our properties in Tempe and Chino Valley, Arizona, as well as Parachute, Colorado, and we look forward to completing these expansions and securing additional tenants during 2017. We have expanded and strengthened our board of directors, and established an independent audit committee. Our sustainable approach to property development and risk mitigation is resonating with municipalities and tenants, and I am increasingly confident regarding the Company’s ability to execute its business development strategy. The financial investment made by our largest shareholder has reinforced the strong commitment our shareholders have to the Company and demonstrates the value of the progress we have made to date and our business plans and growth potential going forward.”

“We expect to utilize the proceeds from the property sale and the additional financing to retire a majority of the Company’s debt, including the deed of trust and existing convertible debt. We also plan to complete the next phases of expansion for the tenants at our key licensed marijuana properties, enabling us to generate higher rental revenue and driving sustainable property value,” added Mr. McLaren. “With additional cash on hand and an improved balance sheet we are well-positioned to selectively make additional investments to fuel our growth objectives for the upcoming year.”

About Zoned Properties, Inc. (ZDPY):

Zoned Properties is a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries. The Company acquires commercial properties that face unique zoning challenges and identifies solutions that can potentially have a major impact on the cash flow and value generated. Zoned Properties targets commercial properties that can be acquired and potentially re-zoned for specific purposes. Zoned Properties does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substances Act.

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