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    Cannabis (Real Estate)

 

  • Consultation for cannabis-related real estate matters, such as easements, environmental analysis, landlord-tenant disputes, leases – such as absolute triple net, build-to-suit, commercial, direct, gross (full service), double net, ground, hospitality, industrial, kiosk, modified gross (modified net), office, operating, revenue-sharing, single net, store-in-store, synthetic, triple net, warehouse, lease amendments, lease modifications, sale-leasebacks, subleases – mortgages, non-disturbance agreements (NDAs), purchases, sale/leasebacks, sales, zoning analysis.

 

  • Negotiation and drafting cannabis-related agreements, contracts and documents for site-specific real estate transactions, such as background checks, business plans, conditional use permits, development agreements, encumbrances, joint-venture agreements, financing documents, historic easements, letters of intent (LOIs), odor abatement plans, operating agreements, restrictive covenants, site identification plans, title clouds, waste disposal plans, zoning variances.

 

  • Typical considerations when seeking to acquire a property on which to perform cannabis-related operations, such as: finding the most advantageous location (“Location, location, location!”) in terms of access for pedestrians and vehicles, near mass transit and major transportation routes for both cars and trucks, and with sufficient power and water; balancing the qualities of the potential location against the asking price; choosing the appropriate legal entity (such as a corporation, general partnership, joint venture, limited liability company, limited partnership, S Corporation) to hold the property, generally depending on the tax implications to the individuals forming such legal entity; familiarity with all local and state guidelines, regulations, rules and statutes (including both those related to cannabis and those related to real estate restrictions), to minimize the business and legal risks associated with the particular location); access to affordable financing (many mainstream lenders may only provide financing at very high rates for what they perceive to be a risky investment, due to the illegality at the Federal levels, so alternative forms of investment may be required); using local SMEs for construction operations and to obtain the related licenses and permits; using local SMEs for government relations, lobbying efforts, neighbor relations, public relations, if necessary; and, preserving the anonymity of the individuals involved in the project to the greatest extent possible.

 

  • Managed the enterprise real estate portfolio, using a real estate property management software platform, in coordination with the accounting department.

 

  • Managed real property disputes, and outside counsel in support of real property transactions or disputes.

 

  • Drafted applications for zoning variances in collaboration with the facilities management, operations and real estate departments.

 

  • Collaboration with local and regional real estate subject matter experts (SMEs) for reports regarding the feasibility of cannabis-related operations in a particular region or at a particular location.

 

  • Collaboration with local and regional real estate SMEs for due diligence reports regarding the purchase or sale of a property contingent upon the transfer of cannabis licenses.

 

  • Collaboration with local and regional real estate SMEs for property certification reports, in which the SME will certify that the local and state jurisdictions in which the particular property is located will allow the types of anticipated cannabis-related operations.

 

  • Collaboration with appropriate SMEs (such as for accounting, architectural, construction, engineering, environmental, financing, logistics, procurement and supply chain) to create site-specific cannabis business presentations and marketing proposals for banks, , including corporate policies, standard operating procedures ( containment and disposal of toxic solvents, fencing, fume control, liquid and solid waste disposal, safety considerations, security, smoke regulation.

 

    Last updated 200817_1138

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