An apparent lack of “420 Friendly” Real Estate has been realised nationwide as many legal growers and dispensary owners scramble to locate properties to lease or purchase at affordable prices. Strict zoning requirements have put constraints on the supply of compliant retail, industrial, and land properties for cannabis-based business use, and not all building owners and landlords will accept medical marijuana tenants because of implied risk associated with cannabis-based businesses and moral reasons which make locating a complaint space even more challenging. Many of building owners and landlords who are “420 Friendly” are reaping the benefits of the Green Rush as they are collecting premiums on the property leases and have the upper hand in negotiations when selling a cannabis complaint property. Due to the lack of Federal support, banking and financing solutions are not easily obtainable unless obtained from a non-traditional institution which also has led to the increased difficulty of purchasing properties for many medical and recreational marijuana dispensaries and grower.
Previously undesirable industrial buildings are now a hot commodity in many U.S. States due to the emerging legal cannabis industry. Medical and recreational marijuana operations have fed a growing demand for industrial spaces of roughly 3,000 square feet to 40,000 sq. ft. and underutilised retail spaces are now home to many cannabis dispensaries which have helped fill empty buildings, drive down vacancy rates, and push rents to higher levels.
420Property.com, a “420 Friendly” real estate and professional marketplace launched in March of 2016 to assist in relieving the difficulties many cannabis-based business owners are facing when it comes to locating “420 Friendly” properties. 420Property.com is now the ‘go-to’ real estate resource in the cannabis industry and assist in locating “420 Friendly” properties for sale or lease, existing businesses for sale, business/ franchise opportunities, landlords, real professionals, real estate lawyers, property insurers, financing providers, and investors.
Get started with 420Property.com today.