Medical Marijuana: Licensing Part 2
Good Dispensary Real Estate is Hard to Find.
It’s a catch 22. The average medical office or retail space is intentionally sited near residential communities. This means you may be finding spaces that work but locations that won’t.
Pair that with Maryland’s inventory shortage and you may find yourself without many options. Going the leasing route? Unfortunately we’ve heard some licensees are being declined by landlords who perceive too much risk with an unknown industry.
Finally, not a lot of real estate practitioners have both the patience and the vision to locate the needle in the haystack that is the ideal dispensary. We are pleased that guerilla / realty has been engaged to secure dispensary real estate in a number of Maryland districts. Success is reliant upon a cross-check of maps, zoning, and demographics. By way of example, we’ve enclosed a map provided by Anne Arundel County, Maryland that can make the search a bit easier. We wish every county had this data readily available.
As the launch of your operation progresses, you may need funding.
Allow us to introduce Christopher Burgess with The Waterford Group.
The Waterford Group is pleased to announce that it has just completed its first successful funding of a Maryland based processor. The $5 million in funding is to allow the completion of the processor’s build out, working capital needs, and to provide a reserve for future opportunities in the Maryland market and other states. The funding was provided by a New York City investment bank. We believe this is the first funding by an investment bank in the Maryland medical cannabis market.
In addition to their expertise in raising funds, Waterford also provides the following services:
- CFO services
- Strategy and Business Development
- Acquisition and Divestitures
Contact Christopher Burgess: