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Zoned Properties Announces Letter Of Intent For Lease At Tempe Industrial Complex

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ZONED PROPERTIES, INC. | Catalina Partners III LLC | Zoned Properties, Inc

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Title: Zoned Properties Announces Letter of Intent for Lease at Tempe Industrial Complex
Date: 3/17/2016
Industry: Metal Mining     Sector: Basic Materials

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Exhibit 99.1

 

Zoned Properties Announces Letter of Intent for Lease at Tempe Industrial Complex

 

New tenant will occupy approximately 25,000 square feet of space

with option to lease up to 40,000 square feet

 

SCOTTSDALE, Ariz., March 17, 2016 /PRNewswire/ -- Zoned Properties, Inc. (OTCQX: ZDPY), a strategic real estate development firm whose primary mission is to identify, develop, and manage 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 25,000 square feet of space, with an option to lease up to 40,000 square feet, to Catalina Partners III LLC at its Medical Marijuana Business Park in Tempe, Arizona.

 

Bryan McLaren, Chief Executive Officer of Zoned Properties, stated, “Catalina Partners exemplifies an excellent new tenant for our Medical Marijuana Business Park in Tempe, Arizona. We decided to give an option to lease up to 40,000 square feet because of Catalina’s high business acumen and sophistication. The Company continues to explore innovative ways of strategically developing this property given its location in the heart of downtown Tempe, Arizona, with close proximity to Phoenix Sky Harbor Airport and major highways.”

 

About Zoned Properties, Inc. (OTCQX: ZDPY):

 

Zoned Properties, Inc. is a strategic real estate development firm whose primary mission is to identify, develop, and manage sophisticated, safe, and sustainable properties in emerging industries. The Company acquires commercial properties that face unique zoning challenges and identifies solutions that can potentially have a major impact on th


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