Denver-based medical marijuana facility developer AmeriCann (OTCQX: ACAN) has named Campanelli Construction the general contractor for the first phase of its planned 1 million-square-foot Massachusetts Medical Cannabis Center in Freetown, which will be the largest facility of its kind when fully built out.
The facility is planned on a 53-acre tract in Freetown that had been owned by Boston Beer Co. (NYSE: SAM) for close to a decade. AmeriCann acquired the property this fall for $4.475 million in cash. Boston Beer had acquired the site in 2007 with plans to potentially develop a brewery there, but the project fell through. Prior to AmeriCann’s purchase, the 53-acre site has been listed for sale since 2008.
Tim Keogh, CEO of AmeriCann, said that he aims to make the Massachusetts Medical Cannibis Center “the place in the northeast U.S. for the creation of a wide variety of exciting new advanced products for medical cannabis patients.” [Read more at Boston Business Journal]