How valuable is industrial development in southeast Mesa?
According to commercial real estate tracker Vizzda, a warehouse on 2.4 acres at 5405 S. Power Road – 2 miles from the Phoenix-Mesa Gateway Airport – was sold on April 8 for $4.75 million.
The buyer: George Archos, CEO of Chicago-based Verano Holdings.
On his Linked In page, Archos says he has “Extensive expertise and proven results in medical marijuana business operations throughout the country, having developed 10 facilities and brought them to profitability in record time. CEO of state-licensed cultivation, processing and/or dispensary facilities in Illinois, Maryland and Nevada, as well as numerous licenses currently in active development in multiple states and Puerto Rico.”
According to the Chicago Sun Times, “Verano Holdings, a Chicago weed firm worth roughly $3 billion, was sued (March 8) in federal court as part of a sweeping racketeering complaint that accuses the company of illegally trafficking marijuana from Illinois to Arkansas.”
“The suit comes just weeks after Verano began trading publicly in Canada with a valuation of nearly $3 billion, making it one of the biggest weed firms in the U.S.,” it reported.
Archos did not immediately return a phone call from the Tribune asking for details on his purchase.