Growing Pains: Securing Cannabis Real Estate in the Tri-state Area

January 8, 2022 | 2:30 pm | A2 | Business / Legal, Finance

Securing the right real estate is one of the most important factors that can lead to the success or failure of a cannabis business. In addition to considerations any business might face such as convenient locales, renovation costs, parking availability, or upholding building codes, each state and municipality often have complex additional varying statutes to comply with before receiving a license at a particular location.

This presentation will provide guidance on the process for sourcing real estate with a focus on dispensary and cultivation sites and a regional focus on the tri-state area. We will start with an overview of the legislative environments that affect real estate sourcing such as proximity rules and zoning ordinances, move into discussing the features of properties that cannabis businesses look for such as ceiling heights, power needs or demography, and finish off by discussing how to make deals happen by expounding on things such as timing, due diligence and lease contingency periods. We will also discuss examples and trends from the top cannabis real estate experts in our region.

matte namer

Matte Namer, Founder, Cannabeta Reality

Matte Namer is a NYC born real estate developer, asset manager, hotelier, and salesperson with a passion for drug policy reform spanning decades. Throughout their ten years as Principal of Alfa Development, Matte was instrumental in overseeing over $500MM of construction projects in downtown Manhattan with a focus on sustainable development, working closely with communities and local governing agencies. Throughout that time, Matte also worked on hundreds of lease and sale transactions and raised over $300MM in debt and equity for various real estate ventures. Matte helped start the trailblazing retail real estate tech firm Wallplay and acted as an interim COO.

They remain a principal of Alfa Development, peripherally involved with the asset Management of Alfa Development’s $50MM+ NYC retail portfolio and hotel (HGU New York) while now devoting their time towards helping their clients at Cannabeta.