Atlantic City will be the future site of a state-of-the-art marijuana cultivation facility, according to a Thursday announcement from Vantage Commercial, which orchestrated the deal.
The addition of a cannabis cultivation facility run by Agri-Kind is expected to bring hundreds of jobs to the community and will support the growth of the cannabis retail businesses in the region.
Located at 1705-1717 Atlantic Ave. and 19 N. Martin Luther King Blvd., the property marks one of the largest non-casino and non-entertainment real estate transactions in Atlantic City in over three decades.
Atlantic City realizes over 24 million visitors a year, which will contribute to the success of this location, which is strategically positioned within the Green Zone of Atlantic City, an Opportunity Zone, and the Central Business District of Atlantic City.
The 3.7-acre parcel, also situated within the Tourism Zone of Atlantic City, was assembled by the Trupos family and Angeloni family over the course of 30 years through more than 40 transactions. Vantage Commercial assisted the buyer and the sellers in a multifaceted development deal, overcoming varying levels of complexity in the approval process.