LivWell Michigan, a licensee of Colorado-based LivWell Holdings, will lease a 156,000-square-foot industrial space in Warren where it will operate a licensed cannabis cultivation and processing facility upon completion of redevelopment.
The property was purchased for $19 million by and leased to LivWell by San Diego’s Innovative Industrial Properties. LivWell is expected to invest up to $23 million to redevelop the site.
“We are full-speed ahead on our redevelopment of this property, building to the specifications we need to deliver the highest quality products to the people of Michigan,” says Dean Heizer, executive director of LivWell. “With the ongoing expansion of our operations, we also plan to provide for well-paying jobs, educational and advancement opportunities for our employees, and the broad community engagement that are just a few of the hallmarks of our company.”
Established in 2009, LivWell employs more than 700 employees and operates 18 dispensary locations in Colorado, in addition to operations in Michigan, Oregon, Puerto Rico and Canada.
“LivWell has developed a tremendous track record of success in Colorado during the last decade, and we look forward to supporting the rapid expansion of their operations in Michigan,” says Paul Smithers, president and CEO of IIP.
Look for a full rundown of Michigan’s cannabis industry in the November/December issue of DBusiness.