Lumos Dispenary Signs 8,500 SF Lease in Beltsville and Plans to Open Adult Recreational Dispensary in Prince George’s County This Summer
Concept founded by Justin Ferguson is differentiated in its approach to destigmatize the cannabis buying experience and provide one-on-one consultation and education to influence product decisions
Lumos Dispensary intends to open among the first dedicated adult recreational dispensaries in Prince George’s County, Maryland with the signing of a full-building 8,500 square foot lease at 10701 Baltimore Avenue in Beltsville. Justin Ferguson, Owner, Founder, and CEO of the company is planning a highly-differentiated cannabis buying experience which destigmatizes the purchasing process, and provides one-on-one private consultations with medical professionals. Ferguson, who intends to quickly expand and franchise the brand, expects the store to be operational this summer. MacKenzie Commercial Real Estate Services Vice President Craig Kates represented the tenant and MacKenzie Senior Vice President Adam Nachlas represented the landlord, Nahha Holdings, LLC in this transaction.
Ferguson aims to deviate from the stereotypical image of cannabis facilities shrouded in secrecy which present the appearance of a “shady operation” with the replacement of an interior that he describes as an “interactive museum” with an upscale consumer buying experience. He explains that the concept will feature an “express” section where consumers that know exactly what they want or are just looking for the strongest-working or least expensive product can visit. A separate area will be staffed by medical professionals standing by to guide consumer purchases by explaining precisely what a particular product does and how it works.
“The objective is to add precision to plant medicine, and alter the way consumers think about purchasing cannabis, nootropics and other similar products,” explained Ferguson, an entrepreneur involved in innovation, data analytics, venture capital and other industries. “Product education comes first,” he explained. “We want consumers to completely understand their options and make decisions based on information presented. This approach will help destigmatize the cannabis buying experience and provide full transparency.”
Ferguson adds that cannabis can be used for many other purposes besides its stereotypical image including aiding and prolonging quality sleep, suppressing appetites, and for pain management. Other benefits include neuroprotection which safeguards the body’s nerve cells, providing anti-inflammatory effects that reduce swelling, mood stabilization which can help with anxiety and depression, and stimulating appetite for those patients that need to gain weight during chemotherapy treatments. “We are building an interactive experience in which consumers know virtually everything about a particular product and its impact on their body,” he said.
10701 Baltimore Avenue features roadside frontage and visibility from US Route 1, with more than 45,000 vehicles passing the site daily. Nearly 325,000 people, with a median household income exceeding $125,000, reside within a five-mile radius of the site. The building is situated just north of the University of Maryland, College Park and is close to Interstates 95 and 495.
“As a University of Maryland alumni, I am extremely familiar with the greater Beltsville area and targeted this section of Prince George’s County for our flagship location,” Ferguson explained. “We intend to utilize this space as our incubator with plans to expand and subsequently franchise the concept.”
“There is a scarcity of appropriately-zoned properties in Prince George’s County, but 10701 Baltimore Avenue satisfied every real estate requirement including its immediate availability, prominent signage and placement on a major thoroughfare,” said MacKenzie’s Kates. “Rather than opt for the no-frills utility of more standard warehouse options, we were able to target and secure a location marrying functionality, such as multiple at-grade overhead garage doors, with key retail elements such as generous parking and exceptional visibility.”
The MacKenzie Companies operates five full-service divisions addressing all real estate asset classes including MacKenzie Commercial Real Estate Services, MacKenzie Management Company, MacKenzie Contracting Company, MacKenzie Capital, and MacKenzie Investment Group. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com
