Investing in Marijuana dispensary properties and related biz's?

[John Arendsen]

I know I might be opening up a real can of something on this thread but I need to get some advice from some commercial RE investors if possible. I recently ran across a rather unique biz op. I have a client that's been looking for multiple  commercial locations to rent/lease for a medical Marijuana retail operation/despencery where they will market a wide variety of Cannibis related products. 

This particular geographic area is in the process of legitimizing Marijuana growing and cultivating operations,  dispensaries, wholesale and retail operations, etc. albeit it is still against the Federal mandate.

My question is do you as a commercial property owner/investor think I would I be liable as the property owner and landlord and subjuct to property forfiture in the event of legal enforcement of said Federal mandate even if it's legal on a local Statewide level and my only involvement is as a landlord with no direct involvement in the biz other than a NNN lease?

I know many will answer by suggesting that I seek legal counsel which I've already done and thus have recieved a good cross section of sound legal advice and opinions. However, I'm particularly inerested in knowing if there are any commercial investors who have had any direct or hands on experience in this arena and what your thoughts, opinions and recommendations are.

[Dan Wallace]

being here in Colorado the question you have is regularly asked. If there was a change in federal administrations that wanted to crack down on a schedule I drug then yes you property could be seized regardless of your direct involvement. Banks are generally not knowingly allowing tenants in properties that they have loans on due to potential seized but also the fact the feds could take their bank license if the bank was knowingly involved with any aspect of a federally banned activity.

The current DOJ has stated they will not enforce certain laws regarding MJ but again that is subject to change. IMO I think several other states are going to see Colorado's lesson and want to tap into this new tax revenue base. As for the boogie man fear of increased violence, crimes etc, that is just not happening. I have seen no difference from prior to legalization to now.

My advice would be to go into any investment involving MJ with eyes wide open and if you decide to move forward be compensated accordingly.