By Patricia Kirk | National Real Estate Investor
The cannabis industry is weathering the COVID-19 pandemic much better than expected and is even thriving in some states like California that declared cannabis sellers an “essential” business, reports Marijuana Business Daily.
Tim McGraw, a cannabis real estate developer/owner who founded and serves as CEO of Canna-Hub, a firm that specializes in cannabis-zoned real estate development, says that site visits to his firm’s 1.2-million-sq.-ft. cannabis business park in Williams, Calif. slowed during the lockdown, but now, cannabis real estate may be second only to the industrial sector for capital investment.
“While the world is on fire, people are smoking more cannabis,” says McGraw, noting that the pandemic and lockdown elevated people’s stress levels to an all-time high, and cannabis “helps with that.”
Commercial real estate investors may feel the impacts of COVID’s ripple effect on the economy for years to come, but marijuana industries seem to be immune to the downturn. If you own or manage commercial real estate that may be suitable for dispensary or cultivation operations, a qualified attorney can help you insulate your investment from legal troubles, while maximizing returns with the right cannabis related tenant.
– Adam Trenk; Rose Law Group Partner, Director of Cannabis, Hemp and Equine Law Departments
