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Issues and Ramifications of Leasing to Cannabis Providers
The legalization of cannabis in New Jersey has created tremendous economic opportunities for commercial and industrial property owners. Aside from the potential financial benefits, property owners should approach this newer market in a cautious manner before embarking on leasing to cannabis retailers and/or growers given the multitude of issues and concerns surrounding the cannabis industry. Property owners should be aware of some of the issues outlined below and the potential ramifications of leasing to a cannabis provider.
Zoning
Initially, property owners should confirm with the municipality that it will permit the sale and/or growth of cannabis and confirm the zoning restrictions such as hours of operation and signage.
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