NJ marijuana: Vacant Walmart in Readington to become production facility
READINGTON – One of the nation's largest cannabis companies will turn the vacant Walmart on Route 22 into a marijuana garden and medical marijuana production facility.
Verano Holdings will employ about 100 workers, Mayor Betty Fort said at a township committee meeting earlier this month.
Verano, which will hold a job fair, told township officials that most of the positions will be filled locally, except for a "master grower."
Earlier this year, Verano, headquartered in Chicago, was acquired by Phoenix-based Harvest Health and Recreation for $850 million. Harvest Health and Recreation is the third largest marijuana cultivator in the U.S. Stock in the company, listed on the OTC Exchange, was selling at $5.26 a share early Tuesday afternoon.
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Verano had been awarded a permit in 2018 by the state Department of Health's Division of Medical Marijuana to grow marijuana in Central Jersey. Verano had also obtained a permit to open a medical marijuana dispensary in Elizabeth.
Fort said the marijuana products, including oils, creams and tinctures, produced in the 120,000-square-foot building will also be sold at a dispensary in Phillipsburg. No products will be available for sale at the Route 22 facility, Fort said.
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Verano does not need municipal approval to operate the facility in the building, which once had also housed a Laneco, because the property is zoned for agricultural use.
No cosmetic changes are proposed for the exterior of the building on the 12-acre lot.
"It will not look any different," the mayor said.
The company will undertake some interior changes, including the installation of specialized lighting for the marijuana cultivation, and stripping vinyl off the floor down to concrete, Fort said.
Unlike Walmart and Laneco, no tractor-trailers are expected on the site, the mayor said, adding that vans will be used to transport the marijuana and products.
Verdano representatives have also discussed security policies with the township, the mayor said.
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Walmart, which closed in April 2018, employed 143 workers. Walmart said it was closing the stores, based on several factors including financial performance and strategic alignment with long-term plans.
The conversion of the store into a cannabis facility fills a hole on Route 22 that has been difficult to solve with the rise of online retailers. The property, with an assessed value of $5.7 million, generated $167,352 in annual property tax revenue in 2018.
The new business is contributing to a spurt of growth in the Route 22 corridor in both Readington and nearby Branchburg, mostly fueled by the municipalities zoning for the construction of affordable housing along the highway.
Staff Writer Mike Deak: 908-243-6607; mdeak@mycentraljersey.com