Medical marijuana has moved into the Pine Belt, and its influence has been dramatic in the commercial real estate industry. You've probably heard about it. Perhaps you voted on it. In the commercial real estate space, it's been constant for most of this year.
Our three noteworthy transactions (this month) will be used for medical cannabis. In fact, each of these properties has already received its license.
We have proudly helped locate several dispensaries in this market, and we had the unfortunate responsibility of telling many others that most of the locations in town had been spoken for. In this market, when you're 1000 feet from churches, day cares, and schools, plus 1500 feet from other dispensaries, you've quickly eliminated most of the town.
Regardless of your personal thoughts on it, the movement has begun. It will be interesting to see how it continues to shake up the retail market.