MONCTON – OrganiGram Holdings Inc., a publicly-traded medical marijuana company has purchased a new property in Moncton.
On Wednesday it was announced that the company has entered into a purchase and sale agreement with Commercial Properties for its 320 Edinburgh Drive location in Moncton’s Industrial Park.
Purchasing the 136,000 square foot facility is part of OrganiGram’s continued expansion in the Moncton area. The company focuses on producing the highest quality, condition specific medical marijuana for patients in Canada.
“We’re very pleased to enter into this agreement with OrganiGram and we congratulate them on their rapid success to date,” said Paul Moore, vice president and general manager of Commercial Properties Limited, in a release. “This transaction will facilitate their growth and provide many new jobs here in Moncton. It’s always exciting for us to be able to support growth in the community.”
As part of the agreement, Commercial Properties Limited will be obtaining the property located at 1299 St. George Boulevard, which will house Source Atlantic Ltd. by the first of next year. The supply chain management company currently occupies the Edinburgh Drive location.
“We think this is a great move for Source Atlantic,” said Moore. “The new building is more consistent with the company’s direction, and we believe that it will better position them for the future.”