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Get your piece of CAs $50b industry!
As a leader in the horticulture industry for 50 years, Nexus of Colorado has mastered the design and build of hybrid indoor mixed-light technology. Buildings are custom designed based on the project’s geographic location and are fully integrated with all internal systems managed through a dashboard on your tablet or phone. PowerPlant Park has made significant upgrades to roof panels, feeding management, lighting, environmental control, rolling benches, pest/odor control and more, resulting in a growing environment and approach we believe unrivaled in the State.
Each Unit is home to 1,144 plant-sites producing approximately 1,725 pounds of ultra-premium flower per year. More specifically upgrades and additions were made to the following systems:
Located in Contra Costa County, the Park is situated on 2,200 ft. of Richmond’s North Shoreline w/stunning unobstructed views of Mount Tamalpias, San Francisco Bay and the Marin County Mountains
PowerPlant Park received its Conditional Use Permit, (CUP) and Land Use Entitlements in April 2019. Three years of effort at a cost of over $3M. Funds required for a multitude of submissions and preliminary drawings before Richmond’s Planning Commission. The Park’s CUP was unanimously approved by Richmond’s Planning Commission. Since 2020 Divine Development Group, (parent company) has sold 18 Greenhouses for $500K each. The Greenhouse purchase includes the structure, improvements and its interior/ exterior equipment, the land underneath the Greenhouses is not included in the sale.
Divine Development has entered into an exclusive lease/purchase agreement for the Phase I land with Doommas Enterprises (landowners). From 2019-2024 Doommas invested $3.3M, (interest free) and purchased 7 Greenhouses for $3.5M. The Greenhouse buildings are state-of-the-art Tier 2 mixed-light indoor buildings provided by Nexus/Prospiant, the premier builder in the US. In cooperation with our cultivation team the Park has enhanced each Unit with the latest in Tier 2 mixed light technology, (cost of over $300K). The resulting grow environment we believe is unrivaled in the State.
Based on Greenhouse sales and investment, Divine’s total cash equity in the project to date is over $14M. This includes deposits on land, construction costs, equipment deposits, purchase of Nexus buildings and preliminary and construction level drawings needed to secure the CUP/Land Use Entitlements. LED lighting provided by Fluence VYPR 4i, post-harvest processing equipment from Green Broz, manufacturing from Root Sciences. Medical grade equipment sourced from top vendors over the past several years.
The stabilized value of Phase I, (23 buildings) is over $100M. Stabilization being Certificate of Occupancy, State licenses active and plants under light. Similar turnkey indoor and/or Tier 2 mixed light space with the same operational conditions, (in SF Bay Area) sells for $1,200-$1,400 per sq. ft., (if you can find it). Phase I of PowerPlant Park will have approx. 77,000 sq. ft. of buildings, which accounts for over $80M of the stabilized value.
Certificate of Occupancy for Phase I Part A is expected late July 2024, with the Park’s first harvest of over 4,000 lbs. by Oct 2024. The wholesale value being over $8M, and retail value over $24M. The Park is currently negotiating to presell its first harvest (possibly second) to three prominent California brands that have retail stores and statewide distribution but do not cultivate. Under these crop purchase agreements PowerPlant Park would receive a 50% deposit once there is proof of life at our off-site nursery operations.
During these challenging times, the cannabis industry in California has seen sales gains unlike any year since legalization. Many craft-growers are deciding to go legal, considering the challenges of conducting business in an increasingly dangerous black-market. With hundreds of thousands of outdoor and hoop-house grown plants taken offline by recent wildfires, many growers and large farms are now deciding to move operations indoors.
PowerPlant Park’s has designed & engineered its 59 mixed-light hybrid greenhouses to produce the highest grade of cannabis flowers and extracted products in the State of California. Manufactured by Nexus of Colorado, (the premier provider of hybrid greenhouses), each unit built of glass & steel encompassing the latest technology in lighting, irrigation, environmental control, CO2 infusion, pest mitigation and feeding management.
Many multistate brands desiring to expand and enter the lucrative California market can simply lease space at PowerPlant Park and instantly replicate operations. Taking advantage of our state-of-the-art manufacturing and processing facilities, statewide retail/wholesale distribution, including seed to sale tracking and compliant branding/packaging. Canna-investors will find the Park an easy way to invest at arm’s length with substantial ROI.