Browse Tag: legal marijuana

Legal Marijuana: What Will The DOJ Do To A Growing Business?

Seal of the United States Department of Justice

US Attorney General Jeff Sessions has gotten to work on clarifying the US Department of Justice’s posture on legal marijuana. The move couldn’t come sooner for the commercial real estate industry supporting this growing sector of the economy.

The enforcement of federal marijuana laws in the face of legalization by 29 states is of considerable concern to commercial real estate markets; based on the latest wave of state legislation passed, nearly 1 in 5 Americans now have access to state-legal marijuana, a figure that encompasses a whopping 68 million people.

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Sessions Points To Congress On Legal Marijuana

During his confirmation hearing yesterday on Capitol Hill, prospective US Attorney General Jeff Sessions sent an ambiguous message to the real estate developers, property owners and lenders working to expand legal marijuana business in states that allow it. Pressed by Sen. Patrick Leahy (D-VT) on the topic of enforcement of federal law prohibiting marijuana in those states, Sessions responded with a bit of safe boilerplate before pointing to Congress

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A Look At Legal Marijuana Commercial Property Brokerage

Despite the fact that it remains a federally illegal Schedule 1 drug, 2015 is the year that legal marijuana sales hit $1 billion. While still a far cry from its elder, comparable national markets — wine and spirits ($123 billion wholesale + retail), tobacco ($43 billion), brand-name pharmaceutical manufacturing ($149 billion) — the legal market in weed grew at a rate of 184% year over year in 2015.

Centered in the states of Colorado, Washington, Oregon, Alaska, and Washington, DC, where recreational cannabis has been legalized, the market is even wider than the above thanks to the legalization of medical use of pot in 23 states and Washington DC.

That adds up to a lot of commerce, which needs a lot of space for custom and secure retail, warehousing and growing operations. As always, meeting those space needs are commercial property professionals who make it their business to serve business.

How are today’s legal-marijuana property brokers and other professionals branding themselves and conducting that commerce? Without any implication of endorsement or preference, let’s take a quick look at a search sampling of the industry:

Avalon Realty Advisors 

avalon-realty-advisors – Winning the SEO sweepstakes today by coming in on top for the natural Google search results for “marijuana commercial real estate” is Colorado-based Avison Realty Advisors. With a website reminiscent of a traditional RE / professional services firm, they make a pitch for competency in a new commercial marketplace, including MMJ/RMJ consulting, which concerns itself with Colorado medical (M) marijuana operators transitioning to retail (R) operations.


Commercial Marijuana Realty (CMR)

cmr – Cast in contemporary web layout, this web pitch promises a mix of property and professional skills including turnkey properties, assistance with licenses, and investment opportunities. Seems also to be a network play, expanding presence in the emerging business niche by running or possibly franchising multiple websites, as at least one other high-ranking site carries the CMR imprint.

420 MLS

420mls  – Using a sharp presentation one might call “the NORAD command center of the legal marijuana property market,” listings concerning all aspects of the business from growing to logistics to retailing are included. Also on show: properties in states where legalization is limited to medical prescription.

More Undoubtedly To Come

While these three basic presentation styles form a decent, if rough snapshot of today’s web pitches, expect the rush to profit from this emerging market to grow in intensity, eventually encompassing evergreen concepts in real estate from REITs to franchising and everything in between.

Legal Cannabis And Commercial Real Estate: A Budding Industry

The US is in the middle of a major evolution in policy concerning cannabis. In an era of legal supply and demand for pot, where are the commercial property opportunities?

In twenty-one of the fifty states, marijuana legalization laws have passed. While federal law bans all sale and possession of cannabis, enforcement in states varies quite a bit. Washington and Colorado have repealed state laws prohibiting the recreational use of cannabis, choosing a regulatory regime that is contrary to federal statutes. The gap between the federal “war on drugs” and state’s rights has never been greater and only shows signs of widening.

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