Legal marijuana creates a real estate bubble | Arkansas Blog

Saturday, April 1, 2017

Legal marijuana creates a real estate bubble

Posted By on Sat, Apr 1, 2017 at 7:46 AM

click to enlarge REAL ESTATE BOOM: NY Times reports on the impact of legal marijuana around the country, coming soon to Arkansas.
  • REAL ESTATE BOOM: NY Times reports on the impact of legal marijuana around the country, coming soon to Arkansas.
Own a vacant warehouse? It's could be worth more today now that Arkansas has legalized medical marijuana. Facilities to grow the plant will be needed because interstate shipment isn't possible and vacant warehouses are natural options.

The New York Times details the real estate impact of the spread of legal marijuana.

In the more than two dozen states that have moved to legalize pot, factories, warehouses and self-storage facilities are being repurposed for the cultivation and processing of potent marijuana plants and products. Suburban strip malls and Beaux-Arts buildings have been reimagined as storefronts selling pre-rolled joints and edibles.

And because the marijuana business comes with added baggage, landlords and property owners are charging a premium for new tenants working in the cannabis business. In Quincy, Ermont is paying above market rate for the previously dilapidated 36,000-square-foot building.

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