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Legal Issues of Leasing to Cannabis Businesses
Adult use of marijuana is, as of this writing, legal in 18 states. In some states, such as New York and New Jersey, recently signed legislation could have marijuana available in businesses as soon as next year.
Of course, most or all of these new businesses will need to lease commercial space in order to operate — and undoubtedly, many real estate owners are eager to meet this new demand, especially in light of the toll the COVID pandemic and the shift to online shopping have taken on bricks-and-mortar retail assets. However, owners and prospective cannabis businesses have many legal issues and questions to consider before entering into lease agreements.
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