No matter what you personally feel about marijuana legalization for medicinal or recreational use, there's no question that opinions in this country have undergone a remarkable shift where cannabis is concerned. You could find yourself wondering if "cannabis real estate" is a good commercial investment.
Had you asked that question a few years ago, most people would have told you that cannabis real estate is too problematic to fund, too difficult to find and too hard to manage given the uncertainty of the changing legislation. Now, however, cannabis real estate looks like it may be the next big wave in commercial real estate.
According to Forbes, the one-time key to neighborhood revitalization was a Whole Foods, a Trader Joe's or a Starbucks. Any combination of the three could help breathe new life into property values wherever they appeared.
Today, however, the cannabis industry is exploding in unprecedented ways, and the sure sign that an area is on the upswing is the presence of the industry. That means that there are opportunities all over the place for related commercial real estate investments, including dispensaries, grow operations, refineries and housing for cannabis industry workers.
If what's happening in places like Los Angeles indicates how legalization will play out in other states, it won't take long before "cannabis real estate" includes everything from large apartment complexes that cater to the industry to retail shops, restaurants and office buildings.
Financial organizations and government entities are increasingly willing to consider working with those in the industry as well, especially those in ancillary fields. As the stigma fades and there's a push to legalize marijuana on the federal level for recreational use, the industry is likely to continue growing.
Do you need a guide who can help you work through your commercial property purchase or draft a solid lease for your cannabis clients? Our office may be able to help. Contact us directly to discuss your goals.