Fledgling nicotine lozenge manufacturer Nic Nac Naturals LLC has leased a 6,500-square-foot building at 3703 E. Central, in northeast Spokane’s Hillyard neighborhood.
The space will be used for manufacture of tobacco-free nicotine lozenges, Nic Nac co-founder and owner Niccolo Magnotto says.
Magnotto says Nic Nac fills a market niche.
“Nobody has ever made a healthy nicotine product,” Magnotto claims. “It’s an all-natural way to consume nicotine.”
Nicotine is an addictive chemical stimulant found in tobacco. Nicotine lozenges are approved by the U.S. Food and Drug Administration as a smoking cessation aid.
Magnotto estimates the company will have have product for sale in about three months. Building out the facility and completing tenant improvements will cost Nic Nac about $100,000.
“We have to get all specialty food-grade equipment,” Magnotto says.
Magnotto says Nic Nac has five co-founders, including himself. Others are Marco Magnotto, Dominic Morris, Robert Koczon, and Raymond Che. None of the founders own other businesses in the Spokane area, Magnotto says.
The company doesn’t expect to hire employees to begin with, he says.
By its third year of production, Magnotto says Nic Nac aims to sell over 3 million units per year.
SVN Cornerstone brokers Nate Gant and Matthew Byrd handled the lease transaction for the Central Avenue space.
According to Spokane County Assessor’s records, the building was most recently sold to Jack’s Stack LLC in October 2020 for $650,000.
Like this story?
You’ll love the rest. Subscribe today, and you’ll receive a year’s subscription to the Journal of Business, unlimited access to this website, daily business news emails, and weekly industry-specific
e-newsletters. Click here for 50% off your first year.
Subscribe today to our free E-Newsletters!SUBSCRIBE