- Many Landlords across the United States currently face several obstacles in leasing commercial properties to cannabis-focused tenants, on the basis of ongoing federal restrictions that impact real estate factors such as insurance, financing, and permitting
- Zoned Properties has sought to bridge this supply gap, with a portfolio of investment properties seeking to address the needs of the regulated cannabis industry
- The company has recently announced plans to refocus its investment portfolio towards direct-to-consumer retail properties, simultaneously revealing their intentions to market one of their cultivation-oriented sites for sale
- Zoned Properties recently revealed that 3Q2023 revenues had risen by 17.2% YoY, whilst guiding for estimated full year rental revenues of $2.5 million over the course of 2024
In 2021, New York state officially legalized the usage of marijuana for recreational purposes; nevertheless, and nearly three years on from the landmark decision, cannabis supply for retail consumers remains painfully constrained. In April 2023, plans to build out a recreational cannabis dispensary in Harlem’s 125th street was thwarted by a lawsuit filed by a prominent Harlem business group, alleging that the planned dispensary would contribute to social issues in the neighborhood (https://cnw.fm/whPja).
Despite cannabis being legal in 38 of 50 states for medical use and 24 states for recreational use, cannabis linked businesses are still faced with significant obstacles when looking to secure commercial properties for the cultivation or sale of marijuana-based products. With cannabis still illegal under…
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