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Paul Britvar Paul Britvar

The cannabis industry is shaking up the San Diego real estate market. According to a new report from Newmark Knight Frank, industrial properties planned or zoned for cannabis usage are selling for a 27% premium. Now local cities in the San Diego market are beginning to regulate production and sales of cannabis product, which will ultimately will change cannabis operations and investment.

“The cannabis industry has had a strong effect on the industrial market in San Diego. Specific changes brought upon by the recent introduction of dispensaries and cultivation/manufacturing plants have introduced new pricing trends, demand for certain zoned properties, acquisitions and dispositions, as well as relocation pursuits by neighbors and property owners alike who share opposition to the cannabis industry,” Paul Britvar, a director at NKF, tells GlobeSt.com.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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