HOUSTON--(BUSINESS WIRE)--As rental rates for possible cannabusiness locations continue to skyrocket, Taylor Consulting, Inc. (OTCBB:TAYO) has ramped up efforts to acquire real estate in Colorado’s red-hot market.
TAYO subsidiary Third Avenue Development, a premier hybrid of real estate investment and development, has narrowed down a list of potential commercial spaces that could capitalize on the state’s soaring cannabis market, sales of which are predicted to exceed $1 billion in the next two years. In its first year of legalization in 2014, Colorado sold 17 tons of recreational cannabis and 50 tons medicinal cannabis, collecting nearly $700 million in taxes.
“We’re looking at properties in the Colorado area that can obtain the necessary operational business permits to produce a substantial return,” said TAYO CEO Scott Wheeler. “Cannabis-friendly real estate would be an exciting addition to our portfolio that would expose our investors to an industry that shows no signs of slowing down.”
TAYO will continue meetings with select industrial and commercial realtors to survey its purchase potential. In addition to Colorado, the company has plans to seek real estate in states with an emerging recreational cannabis industry, such as Nevada, California, and New York.
About Taylor Consulting, Inc.
Taylor Consulting, Inc. (TAYO) recently created Third Avenue Development, LLC as a new division whose primary goal is to invest in promising real estate assets to compete alongside American Homes 4 Rent (NYSE: AMH), Silver Bay Realty Trust Corp. (NYSE: SBY), Equity Residential (NYSE: EQR), Essex Property Trust Inc. (NYSE: ESS) and others.
Third Avenue Development, a premier hybrid real estate and development company, is building an emerging portfolio of real estate assets for investment, rehabilitation and resale. The company is focused on acquiring properties in the country’s top-performing housing markets in order to capitalize on the continue recovery and growth of U.S. real estate marketplace. For more information, visit www.ThirdAvenueDevelopment.com.
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