Lume Cannabis Company
Lume Cannabis Company Increases Property Management
2020 brought an iconic asset to our portfolio, through property management. A relationship with Lume Cannabis Company resulted in two ground leases; one on the north end of Petoskey and one in Mackinaw. Not only did this economic diversification bring in revenue sources, but it also created Tribal history in Michigan in the cannabis industry. In 2021, we expanded our portfolio with a third-ground lease with Lume Cannabis Company, the store’s location is on the south side of Petoskey. In addition to the new revenue source from the lease, as a part of the new lease agreement, Lume Cannabis Company agreed and purchased then donated a sizable land parcel to the Little Traverse Bay Band of Odawa Indians Tribal government. This asset’s ultimate value is an investment in the future expansion of economic diversification and organizational structure.