Innovative Industrial Properties, Kalyx and other similar groups are following the same strategy: buy buildings, retrofit them and lease them to commercial or medical marijuana growers. But it can often cost millions to turn a vacant warehouse into a facility suitable for cannabis cultivation. — NYT
David Gelles reports that the spread of legalization means the weed business is booming and with it, demand for commercial, industrial space. The latest post-industrial trend in states like California, Colorado, Massachusetts or even New York is a retrofitted industrial-scale "cultivation center."
Related readings include; a 2005 look at how Pot Clinics (were) Grow(ing) Like Weed in SF and last year's photo essay of L.A.'s "Green Mile." Or back in February, the Marketplace Morning Report on how these new REITs could help grow the medical-marijuana business.
Finally, last year over at the Weed thread, gruen noted "Big gold rush here to convert disused industrial facilities to indoor grow in advance of legislation."
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