About This Property
The Firm Capital Group led a project by obtaining an option on a 15,000 sq. ft. industrial/retail building in Cathedral City, CA.
While holding that option we pursued and obtained a zone change and specific plan amendment changing the zoning of the entire block that the building sat on. This allowed for a higher and better use of cannabis cultivation and distribution.
After obtaining the zone change and specific plan amendment, we then obtained a conditional use permit and cannabis licenses for the new buyer. Shortly after obtaining these entitlements, we sold the project to a cannabis operator/investor for a 10X cash on cash return on our investment into the project.