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What to know about cannabis real estate, and what might be changing

Those interested in the cannabis industry will have a lot to talk about in the coming months.

With the legalization of recreational cannabis sales in California, which went into effect on January 1, 2018, there are a total of nine states where the average citizen can purchase marijuana products, so long as they are over the age of 21. Medical marijuana is legal in a total of 29 states.

The softening of state and federal drug laws in recent years has allowed the cannabis industry to flourish, posting close to $29 billion in sales in 2018.

With this spike in demand for recreational marijuana came a dramatic increase in demand for cannabis-suitable real estate. While the laws and regulations surrounding this specialty are tricky, and can even foreseeably get brokers and other agents involved in transactions into legal trouble, professionals who take a chance on pot stand a lot to gain.

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