US (NJ): Newark cannabis operation up for sale, but owner not actively selling property

The cannabis- and hemp-growing and -processing facility operated by Honest Pharm is listed for sale.

According to Loopnet, a commercial real estate site, the 400,000-square-foot facility, built decades ago for rose grower Jackson & Perkins, is listed for $23 million.

Honest Pharm was one of the first 52 firms granted growing licenses in New York under the fledgling state cannabis industry. The listing for the property at 621 E. Maple St. says the buyer will get not only greenhouses, warehouses, office space, and refrigerated storage — the result of renovations by Honest Pharm — but approximately 14,000 plants and three cultivation licenses.

According to property listing documents, the facility features over 6 acres of indoor growing space.

“Ongoing upgrades to greenhouse roofing, heaters, and vent fans will allow for year-round growing capabilities,” writes CBRE Upstate, the real-estate company handling the listing.


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