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Zoned Properties Announces Letter Of Intent For Lease At Parachute Business Park American Green, Inc. Commits To Lease 15,000 Square Feet Of Space

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ZONED PROPERTIES, INC. | American Green, Inc | Zoned Properties, Inc

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Title: Zoned Properties Announces Letter of Intent for Lease at Parachute Business Park American Green, Inc. Commits to Lease 15,000 Square Feet of Space
Date: 5/19/2016
Industry: Metal Mining     Sector: Basic Materials

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Exhibit 99.1

 

Zoned Properties Announces Letter of Intent for Lease at Parachute Business Park

American Green, Inc. Commits to Lease 15,000 Square Feet of Space

SCOTTSDALE, Ariz., May 19, 2016 /PRNewswire/ -- Zoned Properties, Inc. (OTCQX: ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries, including the licensed medical marijuana industry, today announced that it has signed a binding letter of intent to lease approximately 15,000 square feet of space at its flagship Marijuana Business Park located in Parachute, Colorado to American Green, Inc. (OTC PINK: ERBB), a technology company in the cannabis industry.

Bryan McLaren, Chief Executive Officer of Zoned Properties, stated, “We look forward to building the relationship with American Green, Inc. as our first tenant at the Parachute Marijuana Business Park. Our efforts to develop properties in this location began in February when we signed a letter of intent to purchase a small tract of land. Since that time, we have expanded the deal to include up to 35 acres for potential development and very quickly secured our first prospective tenant. We look forward to sharing additional details shortly as we expect the development of this project to progress rapidly by deploying our Triple Set (SSS) development model; a sophisticated, safe and sustainable set of design principles.”

Jonathan Miller, Chief Executive Officer of American Green, Inc., added, “The Zoned Properties Triple-Set model works well for us, enabling us to more rapidly enter new markets with a reasonable lease cost for a fully built-to-suit, technologically advanced facility. We are looking at markets outside of Colorado and working with Zoned Properties makes great sense. With Zoned Properties, we can accelerate our model for brand awareness in this rapidly growing industry, creating a significant and sustainable competitive advantage for American Green, Inc.”

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