Ultimate Guide To Winning The Cannabis Lottery: Real Estate Secrets For Finding The Perfect Property
Securing prime real estate for cannabis operations is a nuanced endeavor, requiring expertise and a keen understanding of local regulations. Meilad Rafiei, CEO of WeCann, a cannabis entitlements, licensing and property brokerage firm, shares insights into this intricate process.
Priorities In Real Estate For Cannabis
Rafiei explained that finding the best cannabis property starts with thorough research and a feasibility study to identify cannabis-friendly municipalities.
Digital mapping tools like ArcGIS help highlight viable properties and create a detailed property database. The next steps involve conducting inspections and negotiating terms with landlords while ensuring compliance with all local regulations.
Thus, finding the right location for cannabis operations, whether retail or cultivation, involves thorough research and strategic planning. “Identifying as many properties as you can that qualify is crucial,” says Rafiei.
For retail, key factors include good frontage, ample parking, and proximity to reputable retail neighbors. “Retailers want good signage and shouldn’t be tucked away in industrial areas,” he adds.
For cultivation, the priorities shift. Being off the beaten path and ensuring robust security measures are essential. However, both retail and cultivation face challenges related to construction costs and timelines.
The Role Of Digital Tools And Data
“We create maps that highlight all viable properties within a municipality,” Rafiei explains.
These maps are available via a subscription service, enabling clients to use them independently or with WeCann’s assistance. The maps help identify optimal locations based on zoning, demographics, and the presence of complementary businesses.
Understanding local regulations is another critical aspect. WeCann develops feasibility reports that break down tax implications, operational costs, and timelines for different municipalities.
These reports also …