Real Estate

Call it the “pot premium.” It’s driving up commercial real estate prices in the little seaside city that threw out the welcome mat to cannabis after voter approval in 2016 to legalize recreational marijuana in California.

Legal weed really doesn't mean the neighborhood will go to pot after all.

The “green rush” is on – a mad race among prospective marijuana businesses that's having dramatic effects on the local commercial real estate market.

Is it the Walmart of weed? Or the Disneyland of weed? Perhaps a little bit of both.

Located in the Jewelry District, the project will be occupied exclusively by businesses in the cannabis industry. The Santa Monica-based developers are hoping the building will help transform the neighborhood.

As the cannabis industry matures, so too will the real estate industry associated with this heavily regulated business.

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