GreenZone Properties, LLC aimed to develop raw land and erect industrial buildings as well as to rehab buildings in small towns where we could make both a profit and a social impact.
After working together informally for nearly a year, Mark formally partnered with Pete Asmus in 2017 when GreenZone Properties, LLC was created.
Pete brought a background in fundraising and marketing and after hiring a securities firm, the Company established a Regulation D, Rule 506(c) private placement fund. This permitted GreenZone Properties to raise capital from accredited investors (high net worth individuals). With the fund in place and an email database of 2.5 million people along with a social media presence that included over a million LinkedIn group members, Pete felt very confident in his ability to raise the necessary funds to complete multiple projects.
After several months of bi-coastal living, Mark relocated to California to continue working with the company. Things went well at first, but eventually it became more difficult to raise the needed funds and continue to move the company forward.
Intended to be the Company's signature project, GreenZone Properties purchased this triangular shaped piece of land located outside of Palm Springs, CA prior to Mark joining the company. The City was very open to working with developers and upon hiring an experienced contractor who was well known and respected by city officials, the project was off to a strong start.
The images above show an outline of the two parcels of land that together made up the property along with the layout of the proposed ten buildings. The colors represent different sizes ranging from 12,000 to 27,000 square feet for a total square footage of 162,012. A screenshot of an appraisal is also provided.
Below is an architect's rendering of one of the buildings, designed to look and feel less like a warehouse and more like an office complex.
Hydro-Electric Power Plant
Corinna is a small town in rural Maine where historically a majority of the population worked at one of the mills. Today much of their population has moved away and those remaining are mostly of retirement age.
Our intention was to purchase one of the mills and rehab it. Being alongside a river it was anticipated that the site could generate 600,000 kilowatt
hours of hydro-electric power a year. The energy created would be sold to the community for less than their current electricity rates. We further intended to divide the mill itself into units that would be rented to local entrepreneurs, creating a business incubator intended to bring business and jobs back to this once vibrant community.
Restaurant and Gas Station
In Northern California along the Oregon border lies a small town called Dorris. For many people this is just a town they travel through on their way to another destination. But its remote location and the fact that the highway forces drivers to slow down as they pass through Main Street made it an enticing candidate for development.
After purchasing the building highlighted in yellow, we began to rehab it. We also secured an agreement with Subway Restaurants to open a franchise at the location. Across the street, was a gas station for sale that we were also looking to acquire.