SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Zoned Properties®, Inc. (the “Company”) (OTCQB: ZDPY), a leading real estate development firm for emerging and highly regulated industries including regulated cannabis, today announced the expansion of its leadership team to oversee the firm’s in-house transactional brokerage division, Zoned Properties Brokerage.
Zoned Properties has appointed Patrick Moroney as Director of Real Estate to further advance company services for emerging markets. Moroney has extensive brokerage experience in the regulated cannabis space having successfully completed complex projects across multiple states with prior roles at Kidder-Mathews, Cushman & Wakefield, and Colliers International. Moroney is well-versed in regulatory compliance in relation to site identification, contract negotiation, and cannabis-specific site development. Additionally, Moroney will lead transactional client accounts for Zoned Properties Brokerage.
Zoned Properties has added in-house Designated Broker, Joseph Lewis, to provide a complete real estate process for its clients in emerging industries. Lewis will oversee the transactional brokerage division of Zoned Properties and its team of regional real estate professionals. Prior to joining Zoned Properties, Lewis was the founder and principal of The Real Estate Brokers in Tempe, Arizona. Throughout his career, Lewis has owned and managed a portfolio of commercial, industrial and residential properties, including historical retail properties, industrial site developments, vacation home rentals, and other unique project developments. Lewis has a longstanding commitment to community engagement and civil service. During the course of a two-term cycle, over eight years, Lewis was an elected city council member in the City of Tempe where he contributed to urban development as Vice Mayor, Chair of the Economic Development Committee, and Chair of the Neighborhood Enhancement Committee.
These strategic talent acquisitions will allow Zoned Properties to further identify, develop, and deliver specific needs for complex real estate projects from start to finish. Berekk Blackwell, who was recently appointed Chief Operating Officer, will support operational growth for the Company’s Brokerage Services, along with Advisory Services, Franchise Services, and PropTech Data Services that encompass the Zoned Properties wheelhouse. Chairman and CEO Bryan McLaren will continue to lead the Company’s mission to maximize acquisition and investment opportunities to grow shareholder and stakeholder value.
About Zoned Properties, Inc. (OTCQB: ZDPY):
Zoned Properties is a leading real estate development firm for emerging and highly regulated industries, including regulated cannabis. The company is redefining the approach to commercial real estate investment through its integrated growth services.
Headquartered in Scottsdale, Arizona, Zoned Properties has developed a full spectrum of integrated growth services to support its real estate development and investment model; Advisory Services, Brokerage Services, Franchise Services, and PropTech Data Services each cross-pollinate within the model to drive project value associated with complex real estate projects. With national experience and a team of experts devoted to the emerging cannabis industry, Zoned Properties is addressing the specific needs of a modern market in highly regulated industries.
Zoned Properties is an accredited member of the Better Business Bureau, the U.S. Green Building Council, and the Forbes Real Estate Council. Zoned Properties does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substance Act of 1970, as amended (the “CSA”). Zoned Properties corporate headquarters are located at 14269 N. 87th Street, Suite 205, Scottsdale, Arizona. For more information, call 877-360-8839 or visit www.ZonedProperties.com.
Safe Harbor Statement
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
In March 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. We are monitoring this closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and our business is uncertain. Currently, all of the properties in our portfolio are open to our Significant Tenants and their customers and will remain open pursuant to state and local government requirements. We did not experience in 2020, and we do not foresee in 2021, any material changes to our operations from COVID-19. Our tenants are continuing to generate revenue at these properties and they have continued to make rental payments in full and on time and we believe the tenants’ liquidity position is sufficient to cover its expected rental obligations. Accordingly, while we do not anticipate an impact on our operations, we cannot estimate the duration of the pandemic and potential impact on our business if the properties must close or if the tenants are otherwise unable or unwilling to make rental payments. In addition, a severe or prolonged economic downturn could result in a variety of risks to our business, including weakened demand for our properties and a decreased ability to raise additional capital when needed on acceptable terms, if at all. At this time, the Company is unable to estimate the impact of this event on its operations.