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Marijuana Reform Is Helping The Real Estate Industry In Colorado


denver colorado marijuana real estateThere are many ancillary benefits to cannabis legalization. When some people think of the benefits of cannabis legalization, they tend to only think about cannabis stores and the tax revenues they generate. However, cannabis legalization has a butterfly effect. Cannabis legalization also boosts other industries, which we are seeing right now in Colorado’s real estate industry. Per Denver Business Journal:

The most visible pot real estate is the retail space in strip malls around the metro area that has gone to house dispensaries, with new operations going up throughout the year as various cities approved the sale of recreational pot.

But the sector of commercial real estate that has felt the biggest impact is industrial properties.

The pot industry is partially to blame for the Denver metro area’s record-low industrial vacancy rate, real estate experts say. Other causes include food distribution companies and a lack of large-enough parcels of land to build new industrial. But as far as Class B industrial space around 50,000 square feet are concerned, marijuana companies are the go-to tenants.

Industrial areas of most cities are dilapidated and run down. Spaces are hard to fill by real estate agents as a result. The cannabis industry is helping to revitalize those areas, and bring much needed jobs. Just about every metro area in the country has vacant industrial buildings due to downward trends in the industries that used to inhabit the facilities. If every state in America followed in Colorado’s footsteps, those industrial facilities could be occupied once again.

Source: MarijuanaPolitics.Com

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  1. How things have changed in the USA

    It is very interesting to hear what is happening over there in the States with the whole turn around in marijuana laws. When we first started out in this business a lot of seed companies here in the UK would not even send seeds there. Some states were so strict that they would extradite you to the USA to stand trial and be prosecuted. Our main suppliers were dead
    against it and always used to advise us to be careful just sending cannabis seeds there.

    Now look how it has all changed!

    It is amazing how much can change when a government realizes it is facing a losing and expensive battle against a community that it should embrace and not attack…!!

  2. Wow, that’s exactly what it says. The word “blame” implies this is a negative thing, which it’s not. It could have been better-worded, such as, “The pot industry has contributed to the Denver metro area’s record-low industrial vacancy rate, real estate experts say.” for example, to clarify that the “evil weed” actually had a positive effect.

  3. There are entire industrial neighborhoods in metro Denver that smell like growing weed. Much better than that dog food factory!

  4. “The pot industry is partially to blame for the Denver metro area’s record-low industrial vacancy rate, real estate experts say.”

    Blame??? I thought low industrial vacancy rates indicated economic expansion. I would think most cities would love to have this problem.

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