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Medical marijuana businesses gobble up Colorado Springs industrial space

Submitted by Marijuana News on Mon, 04/13/2015 - 08:00

Smaller industrial buildings that are home to warehouses and distribution centers might lack gee-whiz architectural appeal, and they're often in nondescript parts of town where restaurants and other amenities are few and far between.

But they're perfect for the medical marijuana industry, whose appetite for smaller industrial buildings has made them a hot commodity.

Unlike Denver and Pueblo, Colorado Springs and El Paso County have banned recreational marijuana grow operations and sales, but they allow medical marijuana sales, cultivation and manufacturing.

The result: Medical marijuana operations have fed a growing demand for industrial spaces of roughly 3,000 square feet to 25,000 square feet, which has helped fill empty buildings, drive down vacancy rates and push up rents, say several commercial real estate brokers.

"It's played a very, very significant role in filling up industrial buildings in Colorado Springs to the point now where we've crossed the threshold and we have...

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URL: 
http://gazette.com/medical-marijuana-businesses-gobble-up-colorado-springs-industrial-space/article/1549550

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