Marijuana Real Estate
Cannabis cultivation grows to 4.2 million square feet in Denver area. But Denver’s cap on grow, retail locations has put the brakes on expansion.
Marijuana grows occupied 4.2 million square feet of industrial space in metro Denver at the end of 2016 — up 14 percent since the second quarter of 2015, when they accounted for 3.7 million square feet, according to a new report from CBRE Research…
A Real Estate Boom, Powered by Pot
The sharp rise in property prices follows the booming market for legal marijuana. Sales of legal cannabis reached $6.7 billion in the United States last year, and are expected to top $20 billion by 2021, according to Acrview Market Research.
“This is a new segment of the industrial real estate market that is being created in front of our eyes,” said George M. Stone, a longtime real estate executive now focused on the pot business. “It’s a huge industry and only getting bigger.”
The Marijuana Business Is Really the Real Estate Business
Selling weed seems like a cash cow, but the real money these days is in the real estate that represents the most crucial part of the cannabis business.
After spending over $1 million to build out the 40,000-square-foot warehouse Medicine Man rented on Nome Street near the Denver airport, Vander Veer and her brothers Andy and Pete Williams decided to buy it. The brothers and sister got it for $2.5 million in 2014 and it’s now worth $6 million (they recently sold it).
Field Guide to the Impact of Legalized Marijuana
Regardless of your area of real estate expertise, your real estate market, or where you stand on the issue of legalized marijuana, the impact of marijuana use and production continues to be felt across the country…and throughout the real estate industry.
That impact will only continue to grow as more states legalize marijuana use for medical and recreational purposes…
Can Marijuana Real Estate Maintain Its High?
Across the country, medical marijuana operations are repurposing old, industrial spaces. But as legal weed gets cheaper, will the high cost of retrofitting pay off? Tour a new, indoor operation in Quincy, Mass. in this 360° video…
Visit the World of Weed Red Creek Springs Facility
World of Weed is now providing its services to a 38 acre Pueblo cannabis farm that is nearing the completion of its first production stage that will result in cannabis production…