DALLAS, March 21, 2018 (GLOBE NEWSWIRE) -- BudCube Cultivation Systems, Inc. a wholly-owned (OTC:CHIT) (the “Company”), an expansion-stage alternative construction and real estate development company, announces that it has begun implementing the development program for its satellite facility in Lowell Oregon.
The property serves as the company's flagship leasing center comprising of more than twenty acres zoned F2 or Impacted Forest Land. F2 zoned property is primarily resource land to be used for forestry, agriculture and related activities. (Image Here)
The property is also located across the street from Fall Creek Farm and Nursery, the world's leading blueberry nursery stock and breeding company, providing the industry's best blueberry genetics, plants & technical support to commercial fruit growers around the globe and situated less than twenty minutes from Interstate- 5 freeway, one of the largest major interstate roadways in the United States.
"We are in the process of completing our site plans for the property and then we will begin applying for all applicable building permits etc.," said Patrick Johnson, CEO of CHIT. "We are excited to begin moving dirt in the very near future," he said.
MINI-STORAGE BUSINESS MODEL
Cherubim's business model is similar to that of mini-storage companies by leasing secured square footage to individuals and corporations who need it. The company however has a hybrid format in which it will be offering both single tenant or "macro solutions" as well as the traditional multi-tenant or "micro solutions" as its platform.
Multi-Tenant (Co-Op) Concept
The multi-tenant concept allows for multiple tenants to rent individual, self-contained BCS cultivation units at a secure location staffed with management, maintenance, and security personnel. BCS will offer either facilities constructed of retrofitted shipping containers (Image Here) or Via modular building components (Image Here). Local zoning variances, climate and logistics, will determine which application the company will use.
Single Tenant (Big Box) Concept
The single-tenant concept allows for an entity to enter into a long-term lease agreement with an option to purchase the facility (plus land if applicable) at the end of the lease term for a sales price determined considering fair market value. This is a much larger square footage concept with construction techniques and materials determined on a case by case basis. (Image Here)
Specific to Cherubim's interests, the national industrial real estate market in states where cannabis is legal is booming as pot merchants scramble to find ample warehouse space to house their legal cannabis cultivation as legal cannabis sales topped $1 billion in Colorado last year. From 2009 to 2014, 36% of new industrial tenants were marijuana businesses there and nearly four million square feet of industrial space in Denver was being used for cultivation in 2015, about 3% of the city’s warehouse space. Warehouse vacancy rates in Denver fell to just 3.7 % in 2015, down from 7.5 % in 2010.
About BudCube Cultivation Systems
BudCube Cultivation Systems USA ("BCS") has developed a proprietary, fully portable and scalable, Controlled Environment Cultivation Technology that serves as a turnkey solution for cultivators of legal medical and recreational cannabis, as well as any other plant species. Coupled with a real estate development and property management business model, BudCube Cultivation Systems can position itself anywhere in the world where the cultivation of cannabis is legal.
BCS provides cultivation solutions for commercial application. It offers cultivators quick entry into a fast growing market at a price point that is very attractive when compared to the traditional construction and cultivation solution. BCS features a business model unparalleled in the industry and stands to benefit greatly as more and more market participants seek to gain entry into this sector.
For more information, visit www.budcube.com
About Cherubim Interests Inc.
Cherubim Interests specializes in alternative construction projects, as well as covering the entire spectrum of real estate development: due diligence, acquisition, planning, construction, renovation, and management; providing complete beginning-to-end development programs for mixed use, single, and multifamily projects and properties.
For more information, visit www.cherubiminterests.com
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:
Cherubim Interests, Inc.
Patrick J. Johnson
Chief Executive Officer
(844) 842-8872
pjohnson@cherubiminterests.com
Source: http://www.blauberg.com/cannabis-industrial-real-estate/