Live Auction On March 24th @ 8:30am
This is being sold by way of court ordered receivership and is subject to court confirmation.
PUBLIC NOTICE OF SALE
ON FRIDAY, MARCH 24, 2023, AT 8:30 AM AT THE RIVERSIDE SUPERIOR COURT,
RIVERSIDE HISTORIC COURTHOUSE, DEPT. 7, 4050 MAIN STREET, RIVERSIDE, CA 92501,
ALL ASSETS OF THE CANNABIS DISPENSARY KNOWN AS THE LIGHTHOUSE PALM
SPRINGS, LLC, WHICH INCLUDE A CANNABIS LICENSE, A BUSINESS LICENSE,
INVENTORY, AND THE LEASE FOR THE PREMISES LOCATED AT 395 N. PALM CANYON
DR., PALM SPRINGS, CA 92262, WILL BE SOLD BY WAY OF AN AUCTION.
THE OPENING BID WILL BE $400,000 AND SUCCESSIVE BIDS WILL INCREASE IN $50,000
INCREMENTS UNTIL A WINNING BIDDER IS DETERMINED. AT LEAST 2 BUSINESS DAYS
BEFORE THE AUCTION, BIDDERS MUST BE PREQUALIFIED BY PROVIDING COURT
RECEIVER KEVIN SINGER: (A) SIGNED COPY OF THE RULES FOR AUCTION SALE
HEARING; (B) CASHIER’S CHECK IN THE AMOUNT OF $50,000 AS A DEPOSIT TO BID; (C)
PROOF OF FUNDS AS TO THE BIDDER’S HIGHEST BID AMOUNT. BIDDERS WHO ARE NOT
THE WINNING BIDDER WILL RECEIVE THEIR $50,000 DEPOSIT BACK AT THE END OF
THE AUCTION. PREQUALIFIED BIDDERS MAY APPEAR IN PERSON OR REMOTELY VIA
ZOOM ARRANGED THROUGH THE COURT RECEIVER.
Unique opportunity to acquire a state of the art LA Style Luxurious cannabis retail business in Palm Springs, California. The previous owner invested approximately TWO MILLION dollars into the buildout alone. Not only does this business have beautiful luxury aesthetics, it is located in Palm Springs most desired location in Downtown.
This is a great opportunity for an operator who is located in Riverside County and is looking to move operations into a great location geared towards exposure and sales, someone looking to expand their footprint in the Riverside Cannabis Market while also taking advantage of the very nearby major markets, a multi-state operator or someone who is looking to enter the industry into a fully turnkey business.
Details:
- Space: Total: 2,898 Sq. Ft. Retail Space: 864 Sq. Ft. Consumption Lounge Space: 1,000
- Rent: $14K
- Lease Terms: 3 YRS w/ Option to extend
- Approximately $2M Overall Invested Into Buildout
- PRIME Location in Downtown Palm Springs
- No Seller Financing Available
- Sold by way of Receivership (Zero Debts and Liabilities on License)
- LIVE AUCTION MARCH 24TH @ 8:30AM (VIRTUAL)
Licenses:
- Retail Storefront: Facility where cannabis, cannabis products, or devices for the use of cannabis or medical cannabis products are offered, either individually or in any combination, for retail sale, including an establishment that delivers, pursuant to express authorization by local ordinance, medical cannabis and medical cannabis products as part of a retail sale.
- Non-Storefront Retail Delivery: Off-Premises Sales, Direct-To-Consumer.
- On-Site Consumption: THE NEXT BIG THING IN THE CANNABIS INDUSTRY, you can open up a marijuana lounge. The move gives visitors a place to smoke or eat edibles, since many hotels and rental properties don’t allow for smoking. Similar to alcohol, cannabis can’t be consumed in public places.
Live Auction: Starting Bid $400,000.00, No Seller Financing Available (Inquire with the agents below for details)
Must sign an NDA/Waiver and provide Proof of Financials before any other detailed information is released, along with the company’s location. This listing is Fully Exclusive only by Green Life Business Group, Inc.
Green Life Business Group, Inc DRE CA LIC# 02061374
Elliot Cardenas, DRE CA LIC# 02138336
Drew Mathews, DRE CA LIC #02091143
If you have any questions call Elliot (619) 770-2699 or Drew (619) 653-0483
Email: elliot@glbgroupinc.com ceo@glbgroupinc.com