In an article published on September 20, 2023, in the Colorado Real Estate Journal, Garrett Graff discusses cannabis-related businesses and how in Colorado, CRB licensing is tied to real estate and the considerations for landlords and CRB tenants.
“Nearly a decade since Colorado first legalized adult use cannabis licensing, the real estate considerations for landlords and CRB tenants may be even more important, particularly as many CRBs are experiencing economic distress and must determine how to resolve outstanding liabilities (including mortgage or lease obligations),” explains Graff.
Graff adds that CRBs should understand the threshold requirements for securing suitable real estate and the numerous considerations for both landlords and tenant at or subsequent to lease commencement.
“As many CRBs become financially distressed, additional considerations have arisen that require attention.” Graff adds. “Often, landlords discount the availability of conventional financing such as banking of rent rolls, insurance and title services and other ancillary services customarily available to landlords. However, when considering a cannabis tenant, none of these services are a foregone conclusion.”
To read the full article in the Colorado Real Estate Journal, you may click here.