Zoned Properties, Inc. reports developments for a technology-driven property investment company focused on value-add real estate in highly regulated industries, including legalized cannabis. The company targets commercial properties with zoning or development complexity, uses long-term absolute-net leases with cannabis retail tenants, and supports its model with real estate services that include brokerage, advisory work, and proprietary property technology.
Recurring news for ZDPY covers quarterly and annual operating results, cash flow, property acquisitions and dispositions, lease activity, share repurchases, strategic capital allocation, and governance updates. Company updates also reference its REZONE AI-powered zoning and land-use platform and the role of its real estate portfolio in regulated cannabis markets across the United States.
Zoned Properties, Inc. (OTCQB: ZDPY) reported a 49.8% revenue growth year-over-year, totaling $1.82 million for 2021. Operating expenses rose to $1.78 million. The company generated $489,257 from operations, a significant 188% increase from the previous year. Q4 2021 revenues reached $537,211, while net loss was $111,583 compared to net income in Q4 2020. Cash on hand remained strong at $1.19 million as of December 31, 2021. Management highlights efforts to expand into new cannabis markets nationally.
Zoned Properties, Inc. (OTCQB: ZDPY) appointed Jody Kane to its Board of Directors, enhancing its leadership team with expertise in capital markets, real estate, and the cannabis sector. CEO Bryan McLaren emphasizes the strategic growth and value creation potential for Zoned Properties as it capitalizes on opportunities in the regulated cannabis real estate market. Kane, co-founder of Diamond Bridge Capital and a former board member of Grow Generation Corp. (Nasdaq: GRWG), brings significant investment management experience that is expected to support the company's mission and expansion strategies.
Zoned Properties, Inc. (OTCQB: ZDPY) announced a significant amendment to its lease agreement for the Chino Valley cultivation facility. Effective March 1, 2022, the company anticipates a year-over-year increase in base rental revenue from $393,600 to $1,050,970, a 167% rise. The lease adjustment includes a rent increase from $0.82 to $0.90 per square foot and a monthly payment boost from $55,195 to $87,580. Additionally, over $8 million has been invested by the tenant, enhancing revenue potential further through possible future expansions with a plan for an additional 60,000 square feet.
Zoned Properties, Inc. (OTCQB: ZDPY) reported a 28% increase in revenue to $387,365 for Q3 2021, driven by higher rent and brokerage revenues. However, operating expenses surged by 77% to $440,816, leading to a loss from operations of $(53,451). For the nine months ended September 30, 2021, revenue grew 41.6% while operating expenses increased by 36.7%. The company ended the period with cash of $1,090,682 and positive cash flow from operations of $387,999.
Zoned Properties® (OTCQB: ZDPY), a leader in real estate for regulated industries, announces participation in key cannabis conferences. CEO Bryan McLaren and COO Berekk Blackwell will present at Benzinga’s Cannabis Capital Conference on October 15 in New York City, highlighting ZDPY's growth strategies in various services including Advisory and Brokerage. The team will also attend MJBizCon in Las Vegas from October 19-22. Additionally, Senior Advisor Kristi Buechler will moderate a panel at the Women in Cannabis Expo on September 28 in Reno, NV, emphasizing women's roles in the cannabis industry.
Zoned Properties has announced a significant lease amendment for its cultivation facility in Chino Valley, Arizona. Effective September 1, 2021, rental payments will increase by 68%, rising from $32,800 to $55,195 monthly, with operational space expanding from 40,000 to 67,512 square feet. The expansion is part of a projected demand increase due to Arizona's adult-use marijuana program, which may push demand beyond $1 Billion. Future expansions are also planned, potentially increasing annual rental revenue significantly.
Zoned Properties (OTCQB: ZDPY) reported strong financial results for Q2 and the first half of 2021. Revenue surged by 83% to $550,064, attributed to increased rent and brokerage revenues. Operating expenses rose 41.5% to $410,411, mainly due to brokerage commission payouts. Income from operations saw a significant jump to $139,653, and the company posted a net income of $112,594, marking a turnaround from a net loss of $18,927 in Q2 2020. Cash reserves climbed to $1,031,316, demonstrating solid liquidity.
Zoned Properties, Inc. (OTCQB: ZDPY) announced the expansion of its leadership team with the appointment of Patrick Moroney as Director of Real Estate and Joseph Lewis as Designated Broker. These new additions aim to enhance the firm’s brokerage services for regulated industries, including cannabis. Moroney brings extensive experience in regulated cannabis projects, while Lewis will manage regional real estate professionals. This strategic hiring supports operational growth across brokerage, advisory, franchise, and PropTech services, with a continued focus on increasing shareholder value.
Zoned Properties, Inc. (OTCQB: ZDPY) has appointed Berekk Blackwell as Chief Operating Officer. Blackwell previously served as Director of Business Development, driving operational expansion. His experience includes developing markets for Kahala Brands and overseeing emerging brand operations for private equity groups. As COO, Blackwell will lead various divisions within Zoned Properties, enhancing its services for complex real estate projects, particularly in regulated industries. CEO Bryan McLaren emphasized Blackwell's integral role in the company's growth strategy.
Zoned Properties, Inc. (OTCQB: ZDPY) announced an update to its growth model, enhancing services for the cannabis industry. The firm is introducing a 'flywheel model' encompassing Advisory, Brokerage, Franchise, and PropTech Data Services. This model aims to streamline cannabis real estate development and investment. Notably, Zoned Properties has secured at least $8 million in capital improvements for its Chino Valley property, projecting an increase in rental revenue upon lease amendment. By leveraging its expertise, the company positions itself for potential shareholder dividends.