LEGAL TIP OF THE WEEK
HOW WILL MEDICAL MARIJUANA IMPACT REAL ESTATE?
Legalizing marijuana for medicinal purposes has far reaching affects. One issue rarely brought up is how the real estate market will be impacted. Experts look at two different types of real estate sectors when analyzing the question and believe industrial sector may see the need to beef up security. Marijuana plants take a while to grow, and need space. Owners of industrial facilities used for this purpose will need to be mindful of the possibility of theft and abide by any regulations put in place for an allowable quantity. The other sector is the retail side of real estate, because once the business of dispensing medical marijuana is up and running, the need for a space to operate out of will become a necessity. Not every retail establishment will want to be located next to a dispensary and certain zoning laws may prevent a dispensary from opening in certain locations.
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