The state of California will begin issuing temporary licenses for “cannabis commercial activity” on Jan. 1, 2018, with permanent licensing to follow within 120 days. This highly anticipated event is attracting private real estate investors from across the U.S. who want to take advantage of the opportunity opened with the legalization of cannabis use in the sixth largest market in the world.
The new law provides opportunities to invest in cannabis business operations, notes Jim Fitzpatrick, a former Costa Mesa planning commissioner who heads a consulting firm called Solutioneers. Both experienced industry operators and Wall Street investors hope to cash in on the Golden State’s cannabis-related investment opportunities, he notes.
His company prepares applications for cannabis businesses and offers investors access to cannabis real estate financing and assistance in identifying compliant properties. To be compliant, real estate used for dispensaries, for instance, must be located at least 1,000 feet from schools, churches,