Medical Marijuana Passes in PA - Governor Signs Into Law
Now that the fight for passage of Medical Marijuana Laws in Pennsylvania are over. It seems likely that there will be a greater need for Real Estate to house the production of such Marijuana Plants and services. Along with housing for the employees/owners of this new industry.
This appears to be of interest to many Real Estate Investors for several reasons: To buy and flip commercial properties or to buy and rent out commercial space. Also, if all is said and done as they had pointed out, this will produce some new jobs in Pennsylvania.
What does the production of new jobs and new industry do for the Real Estate Industry as a whole? Well for one - it will bring on a whole new level of people who need housing. Some geographics may change, (in other words - people may migrate to areas with much production of hemp is occurring).
Already I have ran into someone associated with a company that strictly deals with the Medical Marijuana industry - partnership solicitations start @ $1,000,000 dollars. Which speaks loudly as to what is about to transpire within the next few months and years, here in PA.
I already own a 28 x 48 foot building was just waiting for this law to pass. Now the next thing is to consider selling it or renting it out. Should I take on partners to develop it for this specific industry or let the tenant or new owner do so, themselves?
These are just some of the questions that are poised to the Real Estate Investor/Developer/Owners in PA.