The “green tax” levied on many marijuana companies often sprouts like a weed in the real estate business.
That’s because some landlords charge a premium when leasing to marijuana businesses, according to cannabis industry officials.
Landlords, these officials note, often are under the impression that everyone in the marijuana industry is getting rich – and has money to burn.
“Landlords see cannabis executives coming from a mile away,” quipped Kevin Bush, chief financial officer for Denver-based Sweet Leaf Madison Capital, which provides funding to marijuana companies.
But getting rich in the cannabis industry is far from a sure bet – especially these days.
In mature markets such as Colorado, for example, real estate prices have skyrocketed in the past few years. Wholesale cannabis prices, meanwhile, have gone in the opposite direction.
That one-two punch is making it harder for marijuana companies to pay rent – much less purchase
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