Proposed Millbury cannabis site sells for $9.9M
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12 Latti Farm Road in Millbury
A site off Route 20 in Millbury that's planned for a cannabis cultivation facility has sold for the second time since late last year, this time for $9.9 million.
GreenCare Therapeutics was approved for a special permit by the Millbury Planning Board for the project last September but doesn't yet have licensing from the Massachusetts Cannabis Control Commission. GreenCare has proposed a 98,000-square-foot cultivation, testing and distribution center.
In July, GreenCare, which plans to rebrand slightly to GreenCare Collective, filed to the cannabis board for a proposed location change for its proposed facility to the Millbury site from another in the South Shore town of Rockland. That application hasn't yet been approved but has received a positive recommendation from the CCC staff to the board.
The site, at 12 Latti Farm Road, was sold by Cogrow Massachusetts, an entity registered to John Dunne and Michael Quinn of New York, who applied to the town for approval of the marijuana. They bought the site last October for $9.7 million from First American Realty, a Worcester property management firm.
The new owner is a limited liability corporation registered in New York and Pittsfield. The sale closed July 27.
Charles Smith, the chief regulatory officer for GreenCare, said the sale does not change plans for the Millbury site. GreenCare will use the facility as its main production and cultivation hub and may open a retail store there if it receives a zoning variance, he said.
Site work has begun on renovating 12 Latti Farm Road, but no timetables are yet in place for completion, Smith said.
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