A Land Rush Is Underway in New Jersey and New York For Cannabis Real Estate
1.2 min readPublished On: May 12th, 2021By News Team
SACRAMENTO–Research shows the cannabis industry is currently seeing a land rush underway as real estate speculators and cannabis entrepreneurs are getting an early start on securing properties in New Jersey and New York that will potentially meet cannabis business licensing requirements.
According to research from cannabis real estate platform 420Property.com, the industry has seen over a 65% increase in traffic in New Jersey and New York since last year and expects that number to grow to 300% once licensing applications are being accepted.
New Jersey’s and New York’s various license types are expected to have their own unique application requirements and it is expected that the application process will start with finding and securing the appropriate real estate for the license type applied for.
In New York, the Marijuana Regulation and Taxation Act (MRTA) requires applicants to either be the owner of the premises or be in possession of the premises under a written lease with a term not less than the license period at the time of application.
Many details relating to land use and zoning requirements remain unknown in both New Jersey and New York at this time. However, in New York, the MRTA has provided some provisions regarding where future cannabis facilities can be potentially located. For example, the MRTA specifically limits the location of retail dispensary storefronts or on-site consumption licenses are permitted within 500 feet of school grounds or 200 feet from a house of worship.
Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.
CHESANING, Mich. - High Life Farms, a multi-state cannabis company with operations in Michigan and California, announced that its best-selling line of Nuggies chocolate-covered pretzel edibles is now available in California. The product expansion marks ...
DENVER - Business intelligence from Akerna (Nasdaq: KERN), an enterprise software company analyzed the under 30 age range of cannabis consumers, a demographic that has consistently been ranked as the #2 purchasers of cannabis products ...
TALLAHASSEE, Fla. - Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), the multi-state operator (MSO) in the United States, announced the reopening of three medical marijuana dispensaries in Miami, Florida. The locations were formerly branded as ...
DISCLAIMER NOTE: This email should be considered strictly private and confidential. Sender of this email is not a United States Securities Dealer, nor Broker, nor U.S. Investment Adviser. Sender is a Registered Corporation and Consultant, and makes no warranties, nor representations as to the buyer, seller, or transaction. Furthermore, this email includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Read more