Business Deal

After Selling its Property to a Marijuana Proprietor, a Rubber Product Company is Moving to SCLA

As stated in an article in the Victorville Daily Press, August 9, 2016, after roughly a decade in Adelanto’s Industrial Park, DeVoll Rubber Products, Inc. will be moving to an old hangar at Southern California Logistics Airport in Victorville, according to owner John DeVoll. It wasn’t a planned migration but simply the result of a medical marijuana proprietor making an offer that couldn’t be refused. Adelanto-based property owner Ron Herndon said his father recently sold for double the market value the land where DeVoll had operated on Raccoon Avenue, which has been permitted for commercial marijuana activities since November 2015. The buy-out underscores the transformative real estate market in the city’s industrial zone after marijuana cultivation was approved nearly a year ago. Mayor Rich Kerr provided a glimpse of skyrocketing land values, saying that a 3,000-square-foot building in the park recently sold for an astounding $3 million, worth only a sliver of that just a year ago.

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