HerbFront Assists Café Serendipity in Search for Oregon Flagship Location
CHICAGO, July 29, 2015 /Weed Wire/ — HerbFront Inc. is pleased to announce the company’s strategic partner Café Serendipity Holdings, Inc. (OTC PINK: CAFS) has signed a license agreement to open a flagship store in Oregon.
HerbFront is the exclusive nationwide real estate partner of Café Serendipity, and is playing an instrumental role in helping the newest Cafe Serendipity franchisee find the right location for his flagship recreational cannabis store in Eugene, Ore.—with the search currently underway.
“Through the HerbFront Subscription and Broker Network, we’ve been able to help our users expand through identifying opportunities in various states,” said Nathan Glaisner, HerbFront’s Director of Real Estate. “In a separate deal, a Chicago-based partner utilized the HerbFront platform by referring a client looking for space in Oregon.”
HerbFront is the nation’s only verified legal cannabis property listing platform, capital market, and broker network powered with predictive zoning maps. HerbFront’s platform caters to those searching for the best real estate to launch their cannabis business as well as those looking to sell a qualifying property. In addition, the company’s new HerbFront Capital division expanded opportunities for those interested in securing capital, lending or investing in the cannabis space.
Based in Henderson, Nev., Café Serendipity Holdings, Inc. owns and operates Café Serendipity. The company is a builder of upscale branded turnkey retail stores in the recreational adult use and medical marijuana dispensary industries, and will continue to add additional licensees nationwide over the next few quarters.
Dennis M. Johnson, the Café Serendipity licensee, said, “I would like to move aggressively to open the flagship store in Eugene and additional Café Serendipity stores in Salem then Portland as soon as possible.” HerbFront is diligently working with the licensee to find the best cannabis-friendly locations in these markets.
The Eugene Café Serendipity store size will be 2,500 to 3,000 square feet and will generate approximately $3 million per year in revenues.
Zoning requirements for cannabis businesses are strict and complex — varying by city, county and state. Because of the real estate challenges those in the cannabis sector face, properties that are fit to host a cannabis-related operation are all the more valuable. HerbFront is comprised of mapping and zoning experts who are committed to tracking the most recent cannabis legislation as it applies to real estate, which saves clients both time and money.
“In this ever-evolving industry, keeping pace can be quite overwhelming at times,” said Alan O’Connell, HerbFront’s Director of Zoning and Mapping. “We spend a lot of time digging through county and municipal zoning codes in search of cannabis business land use restrictions. Maintaining current data is one of our biggest challenges —but it is essential to the success of our clients, so we make it a top-priority.”
And Oregon is an especially hot market right now, O’Connell said. “Oregon is the next big wave. Businesses are in the process of finding locations now, and will be online next year. Unlike in Colorado and Washington, the state did not establish a maximum number of licenses allowed. So, the only thing limiting the number dispensaries in Oregon is the free market, and the scarce real estate left over after state, county, and local zoning laws are applied. This is exactly when our services are needed most.”
Café Serendipity expects to sign other licensees over the next few months to open additional flagship stores from the ground up in other markets, said Bob McNulty, Chairman of Café Serendipity.
“The HerbFront Subscription and Brokerage Network help our users expand across the nation,” Glaisner said.
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