Power REIT (NYSEAMERICAN:PW)’s David Lesser and Jared Schrader joined Proactive to talk about the group’s previously announced acquisition in June 2021 of a cannabis cultivation facility in Vinita, Oklahoma, and how it has been developing since then.
Lesser and Schrader explain recent improvements it has made to the facility to increase output, including deploying around $500,000 in capital improvements to the site, the majority of which have been done in the first 8 weeks of acquisition. Schrader adds the group is projecting the group to bring in $8.9M in 2022 revenue from its Oklahoma facility.
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