In anticipation of Texas legalizing marijuana, one cannabis company is setting up shop in Dallas with plans to expand elsewhere in the state.
Grupo Resilient International Properties, the real estate arm of Paradise Ridge Hydrocarbons, has put a 32K SF office and warehouse under contract in Dallas.
Paradise Ridge Hydrocarbons is a Michigan-based technology development company focused on energy-efficiency systems. The company has implemented similar cannabis expansion strategies in Washington state, Oregon, Colorado and Arizona.
"Placing these real estate bets on the prospects of legalization of cannabis is not much different than wildcatting for oil, which has made many Texas gamblers super rich historically,” Paradise Ridge Hydrocarbons CEO Gordon Johnson said in a statement.
Paradise Ridge Hydrocarbons is looking to have a strategic advantage by getting a jump on other companies entering the prospective Texas market.
If legalization of marijuana reaches Texas, turnkey solutions at the office and warehouse will include grow benches, lighting, air filtration and circulation systems, irrigation, de-humidification systems, computerized control systems and carbon dioxide injection.
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