NORTHBROOK, Ill., Oct. 23, 2024 /PRNewswire/ -- Hilco Real Estate Sales announces November 20, 2024, as the bid deadline for one of the only available state-of-the-art cannabis growth facilities in Redmond, Oregon.

Located at 4859 N. Highway 97, this automated, climate-controlled facility with 24/7 access provides an ideal setting for professionals seeking to expand or start a cannabis operation. Designed with OLCC-compliant security and advanced fertigation, aeration and nutrient delivery systems, this environment maximizes productivity and allows for up to four harvests per year. Depending on growing methods, the yield per harvest can range between 330-660 pounds.

The property is equipped with automated light deprivation systems in all bays, evaporative cooling and a Surna chilling system in the flower bay, and HVAC/propane heaters and humidity control in the vegetation room and dry room. In addition to the cultivation spaces, the property features a comfortable 1,800± SF manufactured home with a 600± SF living room addition—perfect for on-site housing for operators or employees. All essential equipment is included in the sale, minimizing startup costs for investors or owner-operators.

The property also offers ample potential for expansion, with enough acreage to add on a third 3000± SF bay and construct a 1,800± SF processing facility. This exceptional facility provides an unparalleled opportunity to capitalize on the rapidly growing cannabis market.

Oregon's Deschutes County has become a popular hub for agriculture and outdoor industries due to its favorable climate, affordable land and strong community infrastructure. The property's central location offers easy access to Bend, Salem, Eugene and other major cities, while the area's ample outdoor activities boost year-round tourism and strengthen the local economy. As Deschutes County continues to grow, the cannabis cultivation sector is emerging as a key part of its diverse economy.

Deschutes County has embraced Oregon's expanding cannabis industry, benefiting from the state's progressive regulations. Several successful grows have already been established, supported by a strong local supply chain and favorable zoning laws. Properties zoned for cannabis offer significant opportunities for those looking to enter, relocate or expand in the market.

"This facility offers an unmatched opportunity for growers to step into a ready-to-go operation," Jonathan Cuticelli, vice president at Hilco Real Estate Sales, states. "With the high-tech infrastructure in place, investors can hit the ground running and maximize their productivity immediately."

Dan Miggins, vice president at Hilco Real Estate Sales, adds, "With ample acreage for expansion, this property offers significant flexibility for future growth and development. It's a rare opportunity to acquire a facility of this scale and quality, especially in a market as well-suited for cannabis cultivation as Redmond."

Bids for 4859 N. Highway 97 must be received on or before the deadline of November 20 at 5 p.m. (PT). Interested buyers should review the requirements in order to participate in the sale process available on Hilco Real Estate Sales' website. For further information, please contact Jonathan Cuticelli at (203) 561-8737 or jcuticelli@hilcoglobal.com or Daniel Miggins at (646) 984-4580 or dmiggins@hilcoglobal.com.

For further information on the property, an explanation of the sale process, bidding procedures or to obtain access to property due diligence documents, please visit HilcoRealEstateSales.com or call (855) 755-2300.

About Hilco Real Estate Sales
Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments.

The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial, and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation.

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SOURCE Hilco Real Estate