Voters in three states, California, Massachusetts, and Nevada, approved recreational marijuana, and in three others—Florida, North Dakota, and Arkansas—they approved medical marijuana.
As pot becomes legal in more states, opportunities for commercial real estate developers to tap into this market are growing. Growing marijuana requires a lot of space with a consistent climate, making the industry well suited for large warehouse spaces.
Additional space is needed for packaging and distributing edible forms of the drug. Retail marijuana shops will stimulate activity in the retail sector.
Pot’s continued illegality at the federal level complicates matters, though. Marijuana businesses struggle to find banking solutions and operate underground or with cash exclusively. A lack of banking/finance could be an ongoing constraint on scaling up these businesses.
Related Stories
Codes and Standards | Apr 6, 2017
Product-specific EPDs seen as key aid to earning green building credits
The product-specific EPDs allow designers to more quickly earn a LEED v4 credit in the Materials & Resources category.
Codes and Standards | Apr 5, 2017
Updated AIA Disaster Assistance Handbook released with significant enhancements
Updates provide guidance on how design and construction pros and emergency managers can work together to prepare for and respond to disasters.
Codes and Standards | Apr 4, 2017
Global standards for indoor environmental monitoring under development
Systems and sensors guidelines will be aligned with major green standards.
Codes and Standards | Apr 3, 2017
New standard test method for static loading and impact on exterior shading released
The method provides a standard lab procedure evaluation of ice and snow loads and impacts.
Codes and Standards | Mar 30, 2017
WELL enters strategic partnership with developer of standards and assessment tools
GIGA’s RESET standard and data collection will be integrated into the WELL standard.
Codes and Standards | Mar 29, 2017
Climate-specific code changes target energy savings for tropical zones
Hawaii considers updated 2015 IECC tailored to its climate.
Codes and Standards | Mar 28, 2017
Safety concerns over wood-frame construction raised after Raleigh apartment fire
The unfinished building was destroyed in a five-alarm blaze.
Codes and Standards | Mar 27, 2017
Bills in Maryland Legislature would restrict use of wood in multifamily construction
American Wood Council and design and construction professionals are speaking out against the measure.
Codes and Standards | Mar 23, 2017
New manual of IT connectivity guidelines for commercial developments, redevelopments released
Mobile capacity planning, conduit points of entry, and electrical resiliency are covered.
Codes and Standards | Mar 22, 2017
Brick Industry Assn. study finds brick buildings cost less than precast, metal, and glass
The study compares costs in five categories of construction.
