On June 16, 2016, the Southern Nevada chapter of NAIOP, a commercial real estate development association, held a meeting at the Orleans Hotel and Casino in Las Vegas to discuss the effects of medical marijuana on commercial real estate in Southern Nevada.
The meeting included a panel discussion with George Garcia, President of G.C. Garcia Inc., a land planning and development services firm based in Nevada; John Laub, President of the Las Vegas Medical Marijuana Association; Sandra Tiffany, holder of provisional medical marijuana cultivation certificates and a provisional medical marijuana production establishment certificate in Nevada; and Brandon Wiegand, Vice President of Special Projects at The Grove, a licensed dispensary with two locations in Nevada.
The panel addressed the challenges and opportunities that medical marijuana presents to those in Southern Nevada’s commercial real estate industry, including banking, jobs, construction and the relationship between landlords and tenants.
“We’re seeing 281 applications in Southern Nevada. 92 are open right now,” Laub said in an interview with KTNV Channel 13 Las Vegas. “That’s a lot of space, that’s a lot of strip malls, that’s a lot of redevelopment in this area.”