Zoned Properties Establishes In-House Brokerage Team Expanding Commercial Real Estate Offerings
SCOTTSDALE, Arizona – (BUSINESS WIRE) – Zoned Properties®, Inc. (the “Company”) (OTCQB: ZDPY), a leading real estate development company serving emerging and highly regulated industries, including regulated cannabis, today announced the expansion of its executive team to include the in-house transaction brokerage division, Zoned Properties Brokerage.
Zoned Properties has appointed Patrick Moroney as Director of Real Estate to further advance business services to emerging markets. Moroney has extensive brokerage experience in the regulated cannabis space and has successfully completed complex projects in several states, previously with Kidder-Mathews, Cushman & Wakefield and Colliers International. Moroney is well versed in regulatory compliance related to site identification, contract negotiation, and cannabis-specific site development. In addition, Moroney will manage transactional client accounts for Zoned Properties Brokerage.
Zoned Properties added in-house Designated Broker Joseph Lewis to provide a full real estate process to its clients in emerging industries. Lewis will oversee the transaction brokerage division of Zoned Properties and his team of regional real estate professionals. Prior to joining Zoned Properties, Lewis was the founder and director of The Real Estate Brokers in Tempe, Arizona. Throughout his career, Lewis has owned and managed a portfolio of commercial, industrial and residential real estate, including historic retail properties, business park developments, vacation home rentals and other unique development. Lewis has long been committed to community and public service. For a two-year cycle, over eight years, Lewis was an elected councilor for the town of Tempe, where he contributed to urban development as Vice Mayor, Chair of the Economic Development Committee, and Chair of the Neighborhood Improvement Committee.
These strategic talent acquisitions will enable Zoned Properties to further identify, develop and meet the specific needs of complex real estate projects from start to finish. Berekk Blackwell, recently named chief operating officer, will support the operational growth of the company’s brokerage services, along with advisory services, franchise services and PropTech data services which include the Zoned Properties wheelhouse. Chairman and CEO Bryan McLaren will continue to lead the company’s mission to maximize acquisition and investment opportunities to increase shareholder and stakeholder value.
About Zoned Properties, Inc. (OTCQB: ZDPY):
Zoned Properties is a leading real estate development company serving emerging and highly regulated industries, including regulated cannabis. With its integrated growth services, the company is redefining the approach to commercial real estate investments.
Headquartered in Scottsdale, Arizona, Zoned Properties has developed a full suite of integrated growth services to support its real estate development and investment model; Advisory Services, Brokerage Services, Franchise Services and PropTech Data Services fertilize each other within the model in order to increase the project value in connection with complex real estate projects. With national experience and a team of experts dedicated to the emerging cannabis industry, Zoned Properties caters to the specific needs of a modern market in highly regulated industries.
Zoned Properties is an accredited member of the Better Business Bureau, the US Green Building Council and the Forbes Real Estate Council. Zoned Properties does not build, harvest, sell, or distribute cannabis or substances regulated under US law such as the Controlled Substance Act of 1970, as amended (the “CSA”). Zoned Properties’ corporate office is located at 14269 N. 87th Street, Suite 205, Scottsdale, Arizona. For more information, call 877-360-8839 or visit www.ZonedProperties.com.
Safe Harbor Statement
This press release contains forward-looking statements. All statements in this press release other than historical facts are forward-looking statements. In some instances, forward-looking statements may be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potentially,” “continue,” or similar expressions. Such forward-looking statements involve risks and uncertainties and there are important factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. These factors, risks, and uncertainties are discussed in the company’s filings with the Securities and Exchange Commission. Investors should not place undue reliance on forward-looking statements as they involve known and unknown uncertainties and other factors that in some cases are beyond the control of the company and actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions regarding operations, results of operations, growth strategy and liquidity. The company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons why actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
In March 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and containment measures worldwide. We are closely monitoring this and while operations have not been materially impacted by the COVID-19 outbreak, the ultimate duration and severity of the outbreak and its impact on the economic environment and our business are uncertain. Currently, all properties in our portfolio are open to our major tenants and their customers and will remain open according to state and local authority requirements. We did not experience any significant changes in our operations due to COVID-19 in 2020 and we do not see any significant changes in 2021. Our tenants continue to generate sales in these properties and have continued to make rental payments in full and on time, and we assume that the tenants’ liquidity position is sufficient to cover the expected rental obligations. Accordingly, while we do not expect any effects on our operations, we cannot estimate the duration of the pandemic and possible effects on our business if the properties have to be closed or the tenants are otherwise unable or unwilling to make rental payments. In addition, a severe or prolonged economic downturn could pose a variety of risks to our business, including weaker demand for our properties and a limited ability to raise additional capital when needed, if at all, on acceptable terms. The company is currently unable to assess the impact of this event on its business operations.