Governor Kathy Hochul’s determined efforts to combat illegal cannabis operations in New York have gained even more momentum with a new multi-agency initiative authorized as part of the 2024 Budget. The State aims to curtail the sale of untested cannabis from unlicensed shops through comprehensive inspections and enforcement actions. Additionally, New York City Council’s unanimous passing of a new bill now prohibits landlords from knowingly leasing commercial spaces to stores selling unlicensed marijuana or tobacco products, further strengthening the crackdown on illicit cannabis sales.
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana.
As is so often the case, the states were the big newsmakers this week. In Maine, the Office of Marijuana Policy will start accepting applications for retail sales on December 5. As of today, it’s been three years exactly since…
Continue Reading The Week in Weed: November 8, 2019
Last week, several members of Seyfarth’s cannabis practice attended CannaVest West and the Cannabis Business Summit & Expo. Industry expert panels discussed market trends, private equity, venture capital, family offices, and banking, as well as commercial real estate, which I had the opportunity to moderate.
Of interest to TBT readers, a few key takeaways from the event include:
Continue Reading Cannabis Industry: The Latest Takeaways
Seyfarth Shaw LLP has released the results of its fourth annual Real Estate Market Sentiment Survey, which polled commercial real estate executives around the country from all sectors. Of interest to our readers, this year’s survey revealed that, despite the dramatic increase in the number of states legalizing marijuana, 85% of respondents are putting the brakes on investing in cannabis…
Continue Reading Survey Says…
Twenty nine states plus the District of Columbia have legalized medical marijuana and eight of these states plus D.C. have legalized recreational marijuana. Additional states are considering some form of legalized marijuana use. This has created a new and growing demand for leasing industrial, agricultural and retail properties for growing, manufacturing and dispensing cannabis. Given this growing demand for real estate, it is important to reflect on how many boilerplate provisions in commercial leases are not suited to covering a use that continuously puts state law at odds with federal law.
Continue Reading Don’t Get Smoked in Your Next Commercial Marijuana Lease
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. Note: we reported on the Florida ballot issue yesterday, so this is a look at what else is happening.
Election May Be a Turning Point for Legal Marijuana
(New York Times, 24 October 2016)
To the red-and-blue map of American politics,…
Continue Reading The Week in Weed: October 28, 2016