This news is not exactly new news, however just to give some examples of what has come and what is yet to come in our ever-changing environment of the real estate and marijuana connection.

There have been many articles written and to put it in a nut shell it is said that the marijuana business is really the real estate business. Many whom have invested there hard earned dollars through this industry are now buying their own land for the price’s have skyrocketed with most any marijuana business/real estate. Some states and maybe all by now have regulations on where these businesses can be placed.

As all the marijuana legalization spreads across the country, the financial impact has extended throughout some areas of the economy. One sector seeing a big benefit is industrial warehouses.

Because large facilities are needed to grow and store marijuana -- and because local laws often limit where such businesses can be located -- industrial warehouse owners have seen rental rates spike in areas where medical and recreational marijuana is legal.

The burgeoning marijuana real estate market already has sent ripples through public policy in California, where voters approved legalization of recreational marijuana just last month. In 2016, the Lynwood City Council voted to license up to five cannabis companies to operate in the town’s large cluster of warehouses. Lynwood is in southeast Los Angeles County.

Lynwood will become one of the first large-scale cultivation and manufacturing opportunities in L.A. County.

“We see this as a new industry, and we want to be at the forefront,” said a spokesperson for Lynwood.

Leasing property to marijuana businesses shows such promise that the first marijuana industry-related business to get listed on the New York Stock Exchange, real estate investment trusts that leases large warehouses to medical marijuana growers are growing and the one’s that had already been in existence are expanding quickly.

Charging a premium.

One marijuana grower told his local news it took him six months of searching to find a suitable space for his cannabis operation in the Portland, Ore., area. His ultimate choice was a 10,000-square-foot building on the outskirts of the city. He wants to expand into Oregon from his base in adjacent Washington.

While most companies can rent warehouse space for about $5 per square foot in Portland, cannabis companies routinely get charged in the $12 to $18 range. Part of the reason is a tight supply of suitable space. Local laws on where cannabis companies can operate limit the options for rental.

Industrial real estate in California also has seen an increase in value. A property owner in Santa Barbara, Calif., recently got an offer of $1 million for a 2.5-acre parcel in Desert Hot Springs. The owner purchased the property just last year for $360,000. He credited the Nov. 8 passage of Proposition 64, which allows the recreational use of marijuana in California, for the steep increase in price.

If you have the right parcel with utilities in the right jurisdiction, your land will appreciate because all this new attention given the marijuana changes.

Colorado Real Estate

The impact of marijuana on industrial real estate already has played out in Colorado, where voters approved recreational use of marijuana in 2012. Sales began in 2014.

The burgeoning real estate market tied to marijuana also has led to companies specializing in listing commercial property that can be used for the cannabis industry. The marijuana industry also now uses one in 11 buildings in central Denver, according to the local sources, and uses 3.7 million square feet of space in the Denver area. The marijuana business gave new life to the Denver industrial real estate market.