Does anyone operate in a legal cannabis state?
I am looking for insight into how your local commercial real estate market changed after cannabis was legalized in your state? I am interested in zoning, building renovations, purpose-built construction, medical, rec, dispensary, and greenhouses. any other tips or things you wish you had done to capitalize on this emerging market! Thanks 
[{"id": "dqtb6v6", "text": "I do commercial real estate and mmj real estate advisory in Denver, Colorado. Feel free to PM me with more specific questions and I can try to answer them. \n\nAs far as a high level (pun intended) overview of the market - zoning is a big deal, building renovations are expensive, grow facilities require crazy amounts of electricity, and commercial real estate is virtually impossible to finance traditionally if you are doing anything with cannabis. In Colorado we have different types of licensing that allows operators to do specific types of businesses. That is, a medical dispensary is not a recreational dispesary, and is not a medical grow, a recreational grow, an MIP (marijuana infused product) facility, commercial grade edibles kitchen, or social cannabis club. All of these are very different under the law and have different and unique requirements and regulations that go along with each of them. MMJ tenants are typically great tenants - they pay high rent (many times significantly over market rates) and they pay in cash. These are CASH businesses. The banking system in the regard is still kinda fucked. \n\nTips? Buy a bunch of retail (stand alone with parking), and warehouse space. Don't be in the MMJ business, be in the real estate business with a bunch of great MMJ tenants. If you get them in - sign long term leases. MMJ groups like to have patients (med) and clients (rec) so once they build a solid client base and are racking in the cash - they tend to do significant improvements to the buildings at a fraction of the cost to the owners over the long haul. ", "replies": [], "depth": 1}]