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"C" Industry real estate is complex...if ya didn't know, know ya know...

August 8, 2017

Days and days waiting on a city inspector to tell you if you can or can not operate a cannabis business is frustrating. There are so many considerations when you are choosing a place to operate.

 

Once you find a property of interest, here is the steps to take. First, you should contact the local government body and ask if the property address is eligible for the business you want to operate. Then, you contact the owner of the property to inquire about the terms of the property availability. Schedule a viewing of the property. Before viewing, consider the property value to your business. I can walk you through those steps in later blog. {I need reminders, so come on readers. Help me out!}  Here's where the rubber hits the road. Does the location make sense to locate there, now that you know it can.

 

As you prepare to view the property, think about important features that you would like at your "ideal location". Do you need an easy access to the sidestreets? Do you need large outdoor seating? I know not relevant to our industry, now atleast, need to think openly during this phase thou. Arrive, and stop. Spend time observing the space before entering it. Look around the area. Make note of what time it is and how the place looks. If you are operating a retail space, you make require a certain look. Consider many things prior to arriving and process what you see to make a "yes no" list.

 

Now, consider the value of this space again. Is it better or worse than initially thought? Better? Gather your information and prepare your internal offer sheet to the landlord/owner. Review it a couple different times over a few days. Then, move forward with confidence you are making a solid investment into your business with this real estate move.

 

The numbers on "C" Industry property is overpriced by any investors rational regular thinking. A HUGE DIFFERENCE IS $$$ TO BE MADE! It's not a client to do something. It's a tenant paying premium sf rates AND triple net. Landlords DREAM!!!

 

Make the industry work for you and everyone in the deal will win!

 

 

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