Power REIT (PW) Acquires Greenhouse Cultivation Facility in Budding Oklahoma Market in Highly Accretive Transaction
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Power REIT Acquires Greenhouse Cultivation Facility in Budding Oklahoma Market in Highly Accretive Transaction
June 11, 2021 2:30 PM EDTOld Bethpage, New York, June 11, 2021 (GLOBE NEWSWIRE) -- Power REIT (NYSE-AMEX: PW and PW.PRA) (Power REIT or the Trust) today announced that it has acquired a 9.35-acre property in Craig County, Oklahoma (the Property) through a wholly owned subsidiary (PropCo). The Property is located in the northeast corner of Oklahoma which offers a favorable growing climate for greenhouse cultivation.
As part of the transaction, Power REIT has agreed to fund the renovation of approximately 40,000 square feet of greenhouse space, 3,000 square feet of office space, and 100,000 square feet of fully fenced outdoor growing area with 20,000+ square feet... More
