Zoned Properties Inc., a Scottsdale-based real estate development firm, said in a release that it has sold property it owns in Tempe for $2.125 million and plans to use profits to go toward expanding its Medical Marijuana Business Park in Tempe.

In a recent announcement, Zoned Properties Inc., a strategic real estate development firm, signed a letter of intent stating that the company will lease about 25,000 square feet, with an optional additional 15,000 square feet, to Catalina Partners III LLC in Tempe, Arizona, for its Medical Marijuana Business Park.