The COVID-19 crisis and ensuing economic downturn have created opportunities for cannabis companies to finagle deals on real estate belonging to mainstream businesses or marijuana firms that are scaling back or even closing their doors.
Other cannabis companies are simply hoping their landlords will lower rents to fill vacant properties or to avoid losing existing marijuana tenants.
Marijuana businesses that are seeking to acquire properties owned by distressed companies must be quick to move on such opportunities, according to experts who spoke with Marijuana Business Magazine.
“You see many landlords currently providing rental payment deferment – perhaps even, in some cases, forgiveness options,” according to Garrett Graff, managing attorney at the Hoban Law Group in Colorado. “There’s a lot of flexibility being extended throughout the cannabis industry in general, and that includes within landlord-tenant relationships.”
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