Michigan Cannabis Real Estate
According to Marijuana Business Daily, the estimated sales for cannabis in Michigan for 2021 is between $1.4 - $1.7 billion dollars with 245,268 registered patients with approximately 232 operating medical dispensaries and 216 retailers as of earlier this year. Estimated adult-use sales from licensed retailers by 2025 is projected to reach between $2 - $2.5 billion. All of this makes being or getting into the Michigan market very exciting.
The regulatory challenges facing those currently operating in the cannabis space present obstacles simply unheard of in any other industry. Due to the issues businesses are confronted with, it is imperative to have an arsenal of experts and support to succeed. And, that is why we take the time to get to know our clients and understand their business model - so we can match them with compliant property that is the right fit.
Elwood|Schultz is experienced in both commercial real estate and the cannabis industry. We closely monitor local ordinances and laws throughout the State of Michigan to find the best opportunities for licensed businesses and entrepreneurs. To help our clients address their needs and deployment solutions, we also help connect our clients with other professionals to assist them with financing, engineering, equipment, construction, tax, compliance, legal, etc.