GSRX Industries Inc. acquires cannabis investment properties in P.R.
GSRX Industries Inc., through its wholly-owned subsidiary, Andalucia LLC, announced that it has acquired two properties in San Juan as part of its plan to expand its operations and to build up its portfolio of retail cannabis dispensaries and cannabis investment properties nationally.
“Based on early success at our three Green Spirit RX dispensaries operating in Puerto Rico, and our plans to grow our network of dispensaries as well as potential cannabis distribution and manufacturing operations, we have actively sought out and made strategic real estate acquisitions on the island,” said GSRX CEO Les Ball.
“We have made our intention to become Puerto Rico’s premier purveyor of medicinal cannabis clear from the outset, and we believe these cannabis investment properties will be key to helping us reach that goal,” he said.
Completed during the second quarter of 2018, the company purchased real estate property consisting of approximately 525 meters of land with a building located on the property, and also purchased the adjacent lot, consisting of some 423 square meters of land with a parking lot located on the premises.
The building is currently leased by a third-party for the operation of a medicinal cannabis dispensary.