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
http://www.avalonrealtyadvisors.co/ – 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)
http://www.commercialmarijuanarealty.com/ – 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.
http://420mls.com/ – 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.