California’s cannabiz: Why the pot industry is struggling to lock down office space

TRD LOS ANGELES /
Apr.April 19, 2018 01:30 PM

As recreational marijuana laws materialize in California, the pot industry is preparing for its boom by scooping up office space. But unlike traditional companies, those in the legal cannabis sector are finding it more challenging to secure affordable space in L.A. County.

Cannabis-centric businesses face hurdles like high rents and threats from law enforcement. In some cases, landlords take advantage by charging above-market prices for office space — up to 25 percent more than what other businesses would pay.

Despite these hurdles, those getting in the game now could see reap the benefits later down the road, as increased demand continues to push rents skyward.

Video produced by Jhila Farzaneh


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Los Angeles skyline (Credit: iStock)

LA office leasing drops in Q4 amid WeWork, tech sector pullback

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

arrow_forward_ios
Loading...