Recreational Marijuana Real Estate & Leasing Dilemma2
One of the biggest problems facing the recreational marijuana industry is the availability of retail real estate space. Recently I spoke with a person looking to lease space in the greater Snohomish County area. After talking to some real estate brokers two location seemed ideal.
Located in Lynnwood, the two retail spaces fit the basic criteria of square footage, location, near other businesses, and leasing rate. However, the property owner didn’t want to lease to a recreational marijuana business.
Landlords, who maybe a bit more traditional with who they choose to rent too, right now I doubt its discriminatory to say ‘no’ to a recreational marijuana store, and deny many businesses the opportunity to prove themselves and legitimate and honest businesses.
The spaces were also located near schools and day cares making them less than ideal.
King5 did a story tonight titled ‘Weed Row’ along SR 9 raises questions about zoning where they discuss businesses in Clearview that don’t meet zoning requirements – 5 businesses were ordered to shut down. Here is the video:
The recreational marijuana business owners have a few challenges:
1. Find Favorable Lease Space
2. Find a Landlord Willing to Lease
3. Operate within Proper County Zoning
Operating legally is in everyone’s best interest (business owner, landlord, and the public) and with that comes more hoops. If recreational marijuana is going to be a viable and sustainable industry there has to be laws and those laws have to be adhered too.
What are some of the things you’ve experienced when setting up a recreational or medical marijuana business in Washington?