A report published in April by the National Association of Realtors revealed the increasing demand for cannabis commercial properties, as well as the existence of more companies with the resources to buy properties rather than lease them. So what are some tips and strategies for finding commercial properties in red-hot real estate markets? In states where medical and recreational cannabis use is legal, 35 percent to 36 percent of real estate agents saw increased demand for warehouses, 23 percent for storefronts, and 18 percent to 28 percent for land. Forty-four percent of landlords in states where medical cannabis is legal would take cash for rent, and 40 percent to 45 percent of those where marijuana is legal for both medical and recreational use would take cash for rent. In an interview with Forbes last year, Curaleaf Chief Executive Officer Boris Jordan said, “In New Jersey, our goal is different.
As if cannabis entrepreneurs didn’t have enough to contend with, now comes news that real estate owners in new markets are asking two to three times the market rate for properties in canna-friendly zones.
“After the great recession of 2008, real estate was completely different from what it is now, and sellers can virtually name their price at the moment,” said Jay Czarkowski, founder of Canna Advisors in Boulder, Colorado, and a longtime operator and consultant in the industry.
A report...
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