Zoned Properties Business Summary

Zoned Properties, Inc. (ZDPY) is a technology-driven real estate development firm specializing in the regulated cannabis industry, utilizing a dual-segment model comprising a Property Investment Portfolio and a Real Estate Services division. Revenue is derived from recurring rental income via long-term triple-net leases, transaction-based brokerage fees, and strategic advisory services enhanced by its proprietary AI-powered REZONE platform for site selection and zoning compliance. As of February 2026, the company is undergoing a significant structural transition, having entered definitive agreements for a $16 million total asset liquidation and a management-led buyout (MBO) of its core operations, a process slated for completion by the end of fiscal 2026. Within the market, ZDPY maintains a boutique, service-integrated position, offering more granular regulatory expertise than institutional cannabis REITs like Innovative Industrial Properties (IIPR) and NewLake Capital Partners (NLCP), or specialized lenders such as Chicago Atlantic Real Estate Finance (REFI). The executive leadership is anchored by Chairman and CEO Bryan McLaren, whose background in sustainable development and urban planning—including tenure as a consultant for Waste Management, Inc.—has shaped the company’s focus on complex zoning challenges. President and COO Berekk Blackwell provides operational depth with a pedigree in global franchise scaling from Kahala Brands, where he oversaw international expansion for major QSR concepts. The leadership team, which includes VP of Real Estate Acquisitions Patrick Moroney and Director of Real Estate Services Kyle Gere, is overseen by a board featuring independent directors David Honaman and Cole Stevens. This management group is currently spearheading the 2026 buyout initiative, leveraging their early-mover advantage in the cannabis real estate sector to transition the company’s operational assets into a private or restructured entity following the planned liquidation of the public portfolio.