With dozens of jurisdictions in California having recently approved initiatives to tax and/or regulate cannabis, a wave of commercial real estate owners up and down the state are already in, or about to enter into, negotiations with would-be marijuana-related business (MRB) tenants. Those landlords will be acutely aware that such opportunities exist amid a commercial real estate market downturn, as the COVID-19 pandemic has expedited and amplified changes in demand for traditional agricultural, retail and office space.
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