Marijuana & Real Estate in California | Televised Panel Discussion from Brewer Offord & Pedersen LLP on Vimeo.
The legalized use of recreational marijuana in California came into effect on January 1st, 2018, as a result of the passage of Proposition 64 in the 2016 election. However, despite the fact that the state of California has now made the it legal to use marijuana recreational for adults over the age of 21, there are several complications regarding marijuana use, production, and distribution. The most glaring issue is the fact that the Federal government still maintains marijuana as a Schedule 1 controlled substance by the Drug Enforcement Agency, rendering the drug illegal according to Federal law. However, that classification hasn’t stopped the boom of the marijuana industry in the 30 states that has legalized some form of cannabis use.
In California, the rapid growth of the marijuana industry has made many people excited to consume, distribute, grow, and sell. However, there are substantial real estate considerations that all parties should be aware of, before investing money or signing a lease for a grow facility. This panel discussion took place on October 23rd, and was filmed in front of a live studio audience at the Midpen Media Center in Palo Alto. The recording of the program is currently being broadcasted on public television channels. The moderated discussion featured a panel of attorneys, real estate professionals, and marijuana industry experts to highlight potential real estate pitfalls for the marijuana industry.
Speakers
Dominic Ripoli, Esq.
Chair, Cannabas Law Section
Alameda County Bar Association
Cailyn McCauley, CPA
CEO
CannaKind, Inc.
Kevin Clay, CCIM
Commercial Broker/Owner
REIGN Commercial Real Estate
Adam L. Pedersen, Esq.
Senior Partner & Real Estate Attorney
Brewer Offord & Pedersen LLP
Moderator
Ashlee D. Gonzales, Esq.
Junior Partner & Real Estate Attorney
Brewer Offord & Pedersen LLP
