Question 4 Promises High Times For Industrial Development
Question 4 legalized recreational marijuana in Massachusetts, and if other states' experience is any guide, that means more business for industrial and retail developers with the right skill sets—namely, experienced medical marijuana facility builders.
Theory Wellness president Nick Friedman tells us he expects there to be "increased investment statewide in the construction of cannabis facilities, both for medical and adult use. We believe, and hope, that both programs will co-exist, continue to grow and ultimately operate in a synergistic manner."
Theory Wellness recently tapped Vantage Builders to build its new medical marijuana facility in Bridgewater. The company will occupy the entire 12k SF industrial/retail building at 1050 Elm St, which will include independently climate-controlled cultivation rooms, drying and processing areas and a retail dispensary. It’s scheduled to open in April 2017.
The passage of Question 4 presents a massive boon to construction across Massachusetts, from building new processing facilities and dispensaries to renovating stores for retail use, Vantage Builders principal John Connor tells us. "If Colorado is any indication, we can expect to see industrial vacancy rates drop, while asking lease rates increase significantly."
From working with Theory Wellness, John adds, "we understand what a highly technical, very complex process it is to grow medical marijuana. The precise environmental conditions require proper power, water and HVAC systems. We’ve already heard from several groups that are interested in getting into the market."
