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45 Ericson Ct
Arcata, CA 95521
Cannabis Business For Sale Includes RE #796 · Industrial Property For Sale
Investment Highlights
- INQUIRE FOR PRICE!
- Comes with Manufacturing Type 6 and Transportation and Distribution licenses.
- 15,000 SqFt warehouse being sold as part of a package with three cannabis businesses, three properties, and associated cannabis licenses in Humboldt
PROPERTY FACTS
Property Type | Industrial | No. Stories | 2 |
Property Subtype | Warehouse | Year Built | 1994 |
Building Class | C | Parking Ratio | 1.87/1,000 SF |
Lot Size | 0.84 AC | Clear Ceiling Height | 20 ft |
Rentable Building Area | 15,000 SF |
Property Type | Industrial |
Property Subtype | Warehouse |
Building Class | C |
Lot Size | 0.84 AC |
Rentable Building Area | 15,000 SF |
No. Stories | 2 |
Year Built | 1994 |
Parking Ratio | 1.87/1,000 SF |
Clear Ceiling Height | 20 ft |
Amenities
- Air Conditioning
About 45 Ericson Ct , Arcata, CA 95521
RULES: 1) To participate in the auction sale, at least two (2) business days before the hearing, bidders must present Superior Court Receiver Kevin Singer (the “Receiver”): (a) a signed copy of these Rules for Auction Sale Hearing; (b) a cashier’s check in the amount of $100,000.00 made out to Kevin Singer, Receiver; and (c) proof of funds in an amount equal to or greater than the highest amount the bidder is willing to bid. Bidders that do not present these items at least two (2) business days prior to the hearing may not be allowed to participate. 2) The Receiver plans to conduct the overbid procedure remotely by appearing via Zoom using the information above. Bidders may appear at and participate in the overbidding either in person or remotely via Zoom or telephone. All unsuccessful bidders will receive their $100,000.00 deposit checks back at the conclusion of the hearing. 3) The assets are being sold “as is” and “with all faults” based upon the condition of the assets, with no warranties except for transfer of title and all other warranties and covenants specified in Article VII of that certain Purchase and Sale Agreement (the “PSA”) for the assets. 4) Any bids are to be on the terms and conditions as the terms of the PSA. The bidder with the highest offer accepted must sign and agree to the PSA with the same terms. If the Court-confirmed buyer(s) (“Buyer”) cannot close the transaction pursuant to the terms of the PSA, through no fault of the Receiver, the $100,000.00 deposit (otherwise to be applied toward the purchase price) shall be non-refundable and forfeited to the Receiver. 5) The first bid will be $3,500,000 pursuant to the bid chart below with bidding increments of $500,000.00 increases thereafter. Then, the bids will continue to increase by increments listed in the bid chart until a winner/Buyer is determined. 1 There is an open issue as to the Commercial Cannabis Activity Permit that allowed Emerald Family Farms, LLC to obtain a California processing license, which permit the Receiver is still working to resolve in order for all local licenses and permits to be transferred as part of the proposed sale. Bid No. Bid Amount Original Bid $3,500,000 1st Overbid $4,000,000 2nd Overbid $4,500,000 3rd Overbid $5,000,000 4th Overbid $5,500,000 5th Overbid $6,000,000 6th Overbid $6,500,000 7th Overbid $7,000,000 8th Overbid $7,500,000 9th Overbid $8,000,000 10th Overbid $8,500,000 11th Overbid $9,000,000 12th Overbid $9,500,000 13th Overbid $10,000,000 14th Overbid $10,500,000 15th Overbid $11,000,000 6) Buyer has reviewed the terms of the PSA. Buyer will also execute the PSA immediately following the Court Auction Hearing if confirmed by the Court as the buyer of the assets. The Closing Date set forth herein shall not be delayed or stayed due to any appeal rights by the parties in the Case. 7) The Court presiding over the Case shall retain jurisdiction over any legal disputes relating to or arising out of the Court Auction Hearing and/or sale of the assets between Buyer and the Receiver. Buyer waives any right to a jury trial over any legal disputes relating to or arising out of the Court Auction Hearing and/or sale of the assets, and agrees to any disputes being decided by way of summary proceedings through motion practice. The Court presiding over the Case reserves the right to: amend any of the rules pertaining to the process; cancel the Court Auction Hearing; or cancel the PSA in its entirety. A package consisting of three cannabis businesses, three properties, and associated cannabis licenses in Humboldt County is being sold by way of court-ordered receivership sale (subject to court confirmation). This listing describes one of the included properties, the “Arcata Property,” a 15,000 square foot warehouse. The Arcata Property allows for finished goods and products from the other property included in the Receivership sale to be distributed—achieving highly desirable vertical integration. The distribution function of the Arcata Property has existing infrastructure that includes 2,000 square feet of cold storage and transportation vehicles. The location allows for post-processing and distribution services to any of the over 1,500 licensed cannabis farmers and product producers in the area. The warehouse square footage can effectively be doubled with the construction of a second story. It already has designated areas for intake and product quarantine, plus equipment to process, trim, sort, and package a variety of different types of flower and concentrate products. The Arcata Property comes with permits for Manufacturing Type 6 and Transportation and Distribution. This warehouse is fully equipped with packaging equipment, supplies, furniture, 6 storage containers and 4 transport vehicles. This business is 100% ready for operations. The City of Arcata has indicated that it will allow for an expansion of the existing permits. City of Arcata regulations allow for a non-storefront delivery license to be added to this site, with an expected timeline of just 3-6 months. The City of Arcata has also allowed neighboring properties to acquire Indoor Cultivation and Manufacturing Type 7 licenses (combustible), with an expected timeline of 6-12 months. NOTE: The Court Receiver has been provided the information contained in this listing by sources believed to be reliable, but makes no guarantees or warranties regarding the accuracy of said information. Interested buyers are to hire their own professionals and conduct their own due diligence. Licenses: (1) Manufacturing Type 6: Live Rosin, Vape Pens, Pre-rolled joints, Packaging flower. Option to make: Edibles, Tinctures, Drinks (all manufactured cannabis products). (1) Transportation and Distribution: Distribution of cannabis products from manufacturer to dispensary. Distributors may also transport cannabis goods to and from all cannabis businesses: Manufacturers, Cultivators, Nurseries, Retailers, Distributors. Asking Price: Inquire For Price Must sign an NDA/Waiver and provide Proof of Financials before any other detailed information is released, along with the company’s location. This listing is Fully Exclusive only by Green Life Business Group, Inc. Green Life Business Group, Inc DRE CA LIC# 02061374 Tom Milks, DRE CA LIC# 02064305 Drew Mathews, DRE CA LIC #02091143 If you have any questions call Tom (619) 972-5952 or Drew (619) 653-0483 Email: tom@glbgroupinc.com ceo@glbgroupinc.com Green Life Business Group Inc. we are here to both help you sell or buy a cannabis business opportunity.
Links
PROPERTY TAXES
Parcel Number | 507-461-070-000 | Improvements Assessment | $533,384 |
Land Assessment | $1,371,562 | Total Assessment | $1,904,946 |
PROPERTY TAXES
zoning
Zoning Code | IL |
IL |
Listing ID: 28083600
Date on Market: 2023-03-28
Last Updated:
Address: 45 Ericson Ct, Arcata, CA 95521
The Industrial Property at 45 Ericson Ct, Arcata, CA 95521 is no longer being advertised on LoopNet.ca. Contact the broker for information on availability.