Voters in three states, California, Massachusetts, and Nevada, approved recreational marijuana, and in three others—Florida, North Dakota, and Arkansas—they approved medical marijuana.
As pot becomes legal in more states, opportunities for commercial real estate developers to tap into this market are growing. Growing marijuana requires a lot of space with a consistent climate, making the industry well suited for large warehouse spaces.
Additional space is needed for packaging and distributing edible forms of the drug. Retail marijuana shops will stimulate activity in the retail sector.
Pot’s continued illegality at the federal level complicates matters, though. Marijuana businesses struggle to find banking solutions and operate underground or with cash exclusively. A lack of banking/finance could be an ongoing constraint on scaling up these businesses.
Related Stories
Codes and Standards | Jun 11, 2019
BREEAM USA In-Use standard to be released this fall
Will expand to include residential and multifamily for assessment and certification.
Codes and Standards | Jun 10, 2019
Intl. Code Council releases Natural Disaster Preparedness Guide
Provides tips for staying safe during and after a hurricane or severe weather.
Codes and Standards | Jun 7, 2019
Market conditions indicate slower growth in industrial real estate sector
E-commerce, market oversupply, rising interest rates to dampen hot market.
Codes and Standards | Jun 3, 2019
Haskell invests in BLOX, creator of modular-based delivery method
‘Represents important part of Haskell’s future strategy,’ says CEO.
Codes and Standards | Jun 3, 2019
Florida may eliminate certificate of need requirement for new hospitals
Bill could boost specialized facilities.
Codes and Standards | May 31, 2019
RELi 2.0 standard for sustainability, resilience being piloted
Will be open to LEED-registered or -certified projects, with introductory pricing and support.
Codes and Standards | May 31, 2019
Pankow Foundation releases report, tools for embodied carbon impacts
Focus is on MEP and tenant improvements.
Codes and Standards | May 24, 2019
USGBC receives funding for LEED for Cities and Communities Program
Bank of America provides $500,000 grant to certify 15 U.S. cities.
Codes and Standards | May 24, 2019
AIA updates Interiors Contract Documents
Six revised documents available for interior construction projects.
Codes and Standards | May 23, 2019
Northern California casino offers a template for resilient microgrids
Solar power with batteries and backup generators provide weeks of self-reliance.
