Beal Properties attracts medical marijuana grower for Detroit complex
Ann Arbor-based real estate management firm Beal Properties is poised to sign an agreement with a tenant who will launch a 3,420-square-foot medical marijuana facility at the Beal Building in downtown Detroit.
Beal Properties founder Stewart Beal said the tenant has signed a letter of intent to lease the second floor of the building for five years. Beal Properties last year acquired the $3.5 million, eight-story, 103-year-old building at 277 Gratiot in Detroit.
“It is going to be operated by an attorney that will use the space for a medical marijuana facility and his legal office,” Beal said in an e-mail.
The tentative deal would add to the state’s steadily risingÂ base of caregivers who are growing marijuana for medical use.
Michigan voters in November 2008 legalized marijuana for certain medical uses. As of Nov. 30, the state had registered 2,440 caregivers, who are allowed to grow marijuana and give it to patients. The caregivers can sell their medical services but not sell the marijuana, the Grand Rapids Press reported.
In Michigan, 5,873 patients are registered to use medical marijuana.