The land acquisition in Westworth Village is a unique opportunity to expand Fort Capital's vision for the River District, with potential uses including a mixed-use development for 234,000 residents within a five-mile radius.

It is the next step for the public company, which focuses on sale-leasebacks for cannabis companies.

The all-cash transaction is expected to close in December of 2019.

Construction is slated to begin this fall for the yet-to-be-named development located just off River Road.