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As many states continue to ease regulations and the Food and Drug Administration considers moving cannabis to Schedule III, commercial real estate is increasingly buzzed with interest in properties for use by cannabis businesses, from agricultural land and warehouses to retail spaces. Despite this seemingly abundant opportunity, investors currently find themselves navigating the still murky waters of federal illegality.

The Blunt Truth’s Stan Jutkowitz joins James O’Brien and Eric Greenberg on The Property LineTM Podcast to discuss the cannabis industry landscape, hurdles faced when securing and investing in suitable real estate, and risks and liabilities for owners leasing to cannabis businesses.Continue Reading Highs and Lows of Cannabis CRE

Recently, I had the opportunity to moderate panels on cannabis and commercial real estate at programs held in Los Angeles and Chicago.  I won’t say it was the best of times or the worst of times, but I will say “it was the age of wisdom; it was the age of foolishness.”

It was interesting to compare the programs and the audiences in the two cities.  In Chicago, where medical marijuana has been legal since 2014, and recreational marijuana has been legal for just over a month, people from many facets of the real estate industry — brokers, architects, contractors, real estate owners — came to learn about the new opportunities and pitfalls of the cannabis industry.  To be sure, some were experienced, having participated in the medical marijuana business, but others were, well, naïve about how pervasive local, state and even federal laws are in regulating cannabis use of commercial real estate.

In LA, where medical marijuana has been legal forever and recreational for three years, the commercial real estate industry has had enough experience with the cannabis industry to experience the impact of various laws and regulations on commercial real estate.  The audience came prepared to hear about how the cannabis and commercial real estate industries were addressing some of the issues resulting from the intersection of the industries.

Here are some key takeaways from the two panels:
Continue Reading Tale of Two Cities: Cannabis and Commercial Real Estate