Three-location pipeline across distinct New Jersey municipal regulatory environments.
Concurrent development of three cannabis retail locations in New Jersey municipalities with materially different regulatory postures: Stanhope (active site plan), Moorestown (full CRC application), and Pennsville (ordinance amendment in progress).
Pipeline positions the operator to capture the April 20, 2026 multi-license rule (P.L. 2025, c.325) that allows up to three Class 5 locations under common ownership.
Most multi-location operators sequence three locations linearly — finish location one, then start location two. The practice ran all three in parallel on a synchronized timeline so that the operator would be positioned to take advantage of the April 20, 2026 multi-license rule (P.L. 2025, c.325) the moment it took effect, rather than queuing behind operators who waited for the rule to clarify before initiating pipeline development.