Adaptive Reuse in the Cannabis Industry: The Good, The Bad and The Addendums,” Cannabis Business Executive

Articles / Publications
It’s becoming increasingly common for businesses cut costs by retrofitting older real estate structures to serve their needs rather than fully renovating properties away from the purpose for which they were originally built. Tucker Herndon and Nicole Keefe explored these “adaptive reuse projects” as a potential opportunity for businesses in the emerging cannabis industry in an article published by Cannabis Business Executive on March 9, 2020.
“States where medical and recreational cannabis has been legalized for more than three years have seen more increases in demand for commercial properties,” Herndon and Keefe said. “Specifically, 42% saw an increase in demand for warehouses, 27% an increase for storefronts, and 21% an increase for land.” Adapting an older building, like a warehouse or abandoned bank, can make a lot of sense for a cannabis operation looking for a quick, cost-effective solution. However, there are unique financial and compliance issues to consider within this highly regulated industry, such as non-construction expenses related to rezoning and local ordinance variances, as well as physical regulatory requirements of cannabis operations.
For more information on considerations for cannabis operations adapting an existing structure for their business, please see the full article here.

Related Professionals

Related Capabilities

Burr
Jump to Page
Arrow icon Top

Contact Us

We use cookies to improve your website experience, provide additional security, and remember you when you return to the website. This website does not respond to "Do Not Track" signals. By clicking "Accept," you agree to our use of cookies. To learn more about how we use cookies, please see our Privacy Policy.

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.


Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.