X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Paul Britvar Paul Britvar

Local municipalities are rolling out cannabis regulations. National City in San Diego, for example, is drafting an ordinance that would allow marijuana production and sales, and Encinitas, Imperial Beach and Solana Beach, are likely to vote on ballot initiatives in 2020 that would allow both marijuana production and sales. The state is also working on a bill to allow banks in the state to apply for charters to handle marijuana transactions, which are prohibited by federal banking regulations and currently force the industry to operate on a cash basis. While new regulations will allow cannabis usage, local municipalities are also looking to separate cannabis companies from the general public.

“Municipalities want to create a clear separation between cannabis manufacturing/cultivation and dispensaries and the general public, especially places where children can be found such as schools, parks, churches, residential areas, and thus the approval process for these potential facilities is designed with this in mind,” Paul Britvar, director at Newmark Knight Frank, tells GlobeSt.com. “Due to the fire risk and odors, industrial submarkets are the ideal locations to achieve minimum exposure to children and the general public, which is why the effects of the cannabis industry have been so evident in the industrial realm.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

More from this author

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.