Challenges abound in New Jersey’s hot cannabis real estate market

Source:MJ Biz Daily — 

Marijuana businesses entering New Jersey are facing a sizzling market for retail and industrial cannabis real estate ahead of the launch of recreational sales, forcing them to search aggressively for appropriate sites in limited areas and pay premiums to secure them.

“There certainly is a cannabis markup, as soon as the property owner realizes that it’s going to be a potential cannabis use,” said Rob DiPisa, co-chair of the marijuana law group at Cole Schotz and a partner in the firm’s real estate practice.