Oakland may become home to big marijuana business campus
The cannabis-friendly city of Oakland, California, could wind up being home base for a host of marijuana startups, all working out of the same business campus, if a venture capital firm gets its way.
According to the San Francisco Business Times, California-based Mesh Ventures is throwing $20 million into renovations for a 207,000-square-foot building it is leasing in Oakland, with the intent of transforming the facility into a business hub akin to a tech campus.
The build-out is expected to be finished by the end of the year, with space for up to 20 businesses, nine of which are already licensed and operational.
Tenants have begun moving into leased space, which is going for about $2 per square foot, and the building already is home to a cannabis cultivation operation.
Ultimately, about three-fourths of the tenants will likely be involved in the marijuana trade, the Business Times reported, and most of those will be from Mesh’s investment portfolio.