Zoned Properties Announces Plan to List Chino Valley, AZ Property for Sale for $16 Million

Plan to List Non-Core Asset for sale for $16 Million to Pursue Direct-to-Consumer Real Estate Strategy

SCOTTSDALE, AZ / ACCESSWIRE / March 05, 2024 / Zoned Properties, Inc. ("Zoned Properties" or the "Company") (OTCQB:ZDPY), a technology-driven property investment company for emerging and highly regulated industries, including legalized cannabis, today announced that the Company has listed its cultivation property in Chino Valley, Arizona (the "Chino Valley Property") for sale at a purchase price of $16 million. This potential transaction marks a significant development in the Company's strategic real estate portfolio optimization. The Chino Valley Property has been a valuable non-core asset within the Company's portfolio and this potential sale is part of a strategic shift to streamline the Company's portfolio and concentrate efforts on a direct-to-consumer real estate strategy.

"As part of our ongoing strategic review to enhance shareholder value, we are very pleased to announce our intention to sell our Chino Valley Property. The Chino Valley Property, which we now consider a non-core asset to our investment strategy, represents a significant capital reallocation opportunity for Zoned Properties. We expect that, if and when the Chino Valley Property is sold, the non-dilutive proceeds from the sale would be instrumental in supporting the Company's future real estate portfolio acquisition plans," commented Bryan McLaren, Chief Executive Officer of Zoned Properties. "This is a pivotal step in our ongoing efforts to scale our direct-to-consumer real estate portfolio and unlock value for our shareholders. We believe that this strategic shift will position us to capitalize on the growing demand for retail dispensary properties in the cannabis real estate industry with strong cap rates creating long-term shareholder value. We will continue our ongoing strategic review with the sole intention of growing shareholder value and look forward to updating shareholders as appropriate."

For more details about the Chino Valley Property listing click here: https://zonedproperties.com/listings/

About Zoned Properties, Inc. (OTCQB:ZDPY):

Zoned Properties Inc. ("Zoned Properties" or the "Company") (OTCQB:ZDPY) is a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States. The Company aspires to innovate within the real estate development sector, focusing on direct-to-consumer real estate that is leased to the best-in-class cannabis retailers.