IE Business Daily Business news for the Inland Empire.
Two industrial buildings within Adelanto’s cannabis zone have been sold.
The structures, both about 6,000 square feet, sold for $1.7 million, according to a statement released by The Bradco Cos. in Victorville.
Both buildings are on a one-acre lot at 17336 and 17338 Muskrat Ave. Built in the early 1990s, they are zoned for light manufacturing and are north of Adelanto Industrial Park II.
Bradco represented the seller, Muskrat LLC and the buyer D9 Alliance LLC, both private investment groups. The property was originally listed for $2.2 million.
Blackmore Escrow and Orange Coast Title assisted in the transaction, according to the statement.
“The Adelanto Industrial cannabis market continues to present lucrative win/win opportunities,” said Paul A. Casilla, Bradco’s senior commercial sales and leasing associate, in the statement.
Two years ago, Adelanto passed an ordinance permitting adult use of cannabis in parts of the city for recreational or medical purposes, with a conditional use permit.
