Hudson-based Calare Properties has acquired a 34,000-square-foot warehouse at 234 Taylor St. in Littleton for $2.7 million and secured a 10-year lease with medical marijuana provider Premier Health Group LLC for the entire building.

The single-story building situated on 6.3 acres off Route 495 features 24-foot ceilings with eight tailboard docks and one drive-in door.

Salem, New Hampshire-based Bank of New England provided $1.8 million in mortgage financing.

Premier Healthcare Group is an affiliate of Sanctuary Medicinals Inc. Premier plans to make “significant capital investments” to prepare the property for use as a cultivation facility, Calare Properties said in a press release. Sanctuary Medicinals has proposed a dispensary on Suffolk Lane in Gardner, according to Massachusetts Department of Public Health documents.

The Taylor Street cultivation site would create up to 25 jobs and be equipped with biometric scanners and a bank vault as security measures, The Lowell Sun reported last fall.

Littleton selectmen in October approved a host community agreement under which Sanctuary Medicinals will pay the town $50,000 in its first two years, $75,000 in the following two years and $100,000 each year after, The Sun reported.

Medical Marijuana Co. Leases Entire Littleton Warehouse

by Steve Adams time to read: 1 min