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
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.…
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)