As Los Angeles Medical Marijuana Deadline Approaches Collectives Seek Sites
L.A., CA Ordinance Forces Dispensaries To Move Or Close
Los Angeles, Cal. - “In all my years in commercial real estate I’ve never seen such a last minute grab for so few properties,” says commercial real estate expert Linda Kaye. “Quite simply,” says Kaye, “most dispensaries face a timing dilemma: find a qualifying location or close their businesses.”
What’s set off panic is a new ordinance passed by the City of Los Angeles, effective June 7, 2010, severely limiting the number and locations where dispensaries/collectives can be located. For example, a collective can’t be within 1000 feet of a school, library, park or residence. Non-complying qualified collectives will have to shut their doors. Although this is a serious blow to those that can’t continue, those that can will ride a wave of exponentially increased sales due to market compression.
Kaye says her offices are besieged by collective owners looking for help. “They need someone credible that understands what ordinance compliance means, can gain and manage property owner’s expectations and they need it now,” says Kaye. A recent effort seeking temporary injunction from the ordinance on behalf of several collectives failed this past week, setting off fear in some and relief to others.
Demand for her time created the need for Kaye to offer a fee-based service that guarantees identification of a qualifying location that a collective /dispensary can be relocated to. “Locations are limited but demand is high,” Kaye says, “so don’t wait.” Some collectives have already secured new sites without making the required move. Of the collectives contacted most report they’ve been getting bombarded with letters from attorneys seeking a fiscal high for their legal services. Kaye’s model is a service focused on real estate locations meeting ordinance requirements. For more information about the service visit www.420CRE.com
- Contact Information
- Linda Kaye
- Marketing Director
- 420 Commercial Real Estate
- Contact via E-mail
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