Mar
12
Marijuana Laws Slowly Impact Industrial CRE
ByAs more and more states legalize the medical and/or recreational use of marijuana, demand for cultivation/grow facilities is on the rise, spurring the repurposing of distribution and warehouse properties to accommodate the budding business.
The industrial sector of the commercial real estate industry is going through a slow but inevitable change, and it has more than a little to do with the budding marijuana business, according to Integra Realty Resources’ new Marijuana Real Estate report.
As of January 2018, 29 states and the District of Columbia have legalized marijuana for medicinal use and 10 have legalized recreational marijuana, with Vermont becoming the first to give the green-light through legislature. As the Marijuana Industry grows, so does the need for cultivation/grow facilities—which usually take the form of specially-converted warehouses or distribution centers—thereby impacting the industrial sector of commercial real estate…
