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Marijuana companies seeking real estate face limited choices and premium prices

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Experienced cannabis entrepreneurs know that ancillary companies such as construction and banking providers often charge marijuana businesses more than their non-plant-touching counterparts—the so-called “green tax.”

The green tax applies to real estate, too. Marijuana businesses regularly pay premiums for properties, whether they are retail storefronts, land or warehouses for cultivation and manufacturing.

“Yes, there is a cannabis premium,” said Berekk Blackwell, the chief operating officer at Scottsdale, Arizona-based Zoned Properties, a cannabis-focused commercial real estate leasing and investment company.

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That premium, Blackwell and other cannabis industry observers say, has a few main drivers that most other industries don’t have to contend with—at least not to the same degree as marijuana businesses.

These drivers include:

Restrictive land-use and zoning regulations. Holding fees that cannabis business owners pay landlords to keep property vacant until they receive business licenses as well as other contingency fees. Landlords and property

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Suspended Massachusetts marijuana chair sues as allegations emerge

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New details have emerged about the suspension of Massachusetts Cannabis Control Commission Chair Shannon O’Brien, who has filed a lawsuit alleging the punishment is unlawful.

Treasurer Deb Goldberg, who appointed O’Brien last year, said in a statement that the Cannabis Control Commission (CCC) hired a law firm to investigate “several serious allegations” made by a commissioner and other agency staffers, according to the Boston Herald.

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“The law firm undertook an investigation and has returned with a report,” the statement noted, without elaborating on the details of the allegations or the firm’s findings.

“According to the CCC’s employee handbook, suspension with pay is the only allowable remedy at this point, as the findings are being reviewed and action is considered.”

O’Brien was suspended with pay on Sept. 14 for undisclosed reasons and length of time earlier this month.

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O’Brien filed a

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Tim Conder appointed permanent CEO of marijuana MSO Tilt Holdings

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Tim Conder, interim CEO of marijuana multistate operator Tilt Holdings since April, has been given the job on a permanent basis.

Since taking the interim post after Gary Santo resigned, Condor has aimed to put the Phoenix-based company on a path to profitability.

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He has initiated significant cost reductions and reevaluated brand partnerships – including cutting ties with some social equity brands – while shifting focus to the cannabis company’s vape hardware business.

“When I took the interim CEO role, the company was cash-consumptive, really in an environment where that doesn’t make a lot of sense,” Conder told MJBizDaily earlier this month.

“Our immediate priorities were to reduce our cost structure and our expenses and increase operational efficiencies to ultimately achieve profitability.”

Art Smuck, Tilt’s newly appointed board chair, said in a news release that “Tim has been instrumental in bringing financial discipline to Tilt, and

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Oklahoma high court declines to hear challenge to medical cannabis fees

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The Oklahoma Supreme Court declined to hear arguments challenging a new law that significantly raises fees for medical cannabis operators.

Filed in late June, the petition will now be sent to district court in Oklahoma County, The Oklahoman reported.

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The petition – filed by Jeb Green, founder of Oklahomans for Responsible Cannabis Action, as well as the Bingo 101, Oklahoma Natural Cures and Pharside dispensaries – claims the new fee structure violates the state constitution and is a “revenue-raising tax disguised as a fee.”

The challenge also alleges the bill wasn’t passed through the three-fourths majority required by state law and its approval came within the last five days of the legislative session.

Oklahoma law prohibits lawmakers from passing revenue-generating bills during the last five days of a legislative session.

The state attorney general’s office argued the bill was not a revenue generator subject to constitutional

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