Congressional threats of jail time for Washington, D.C.'s mayor over her implementation of a voter-approved marijuana decriminalization measure have shined a brighter spotlight on the issue of legal pot. While Congress has limited the opportunities Washington, D.C. has to create jobs and revenue from the sale of marijuana, Colorado has proven to be a case study for the impact legal weed can have on a commercial real estate.
Are you a weed expert (when it comes to commercial real estate, of course)? Take our quiz and find out!
1
1) How many 'brick and mortar' retail shops and medical dispensaries opened in Colorado in the first year of legalized marijuana?
YOU'RE CORRECT!
As of December 2014, the state had issued 833 recreational licenses, 322 of which were for pot stores, according to the Colorado Department of Revenue. The state also issued 1,416 medical licenses, 505 of which were for medical marijuana dispensaries.
YOU'RE WRONG!
As of December 2014, the state had issued 833 recreational licenses, 322 of which were for pot stores, according to the Colorado Department of Revenue. The state also issued 1,416 medical licenses, 505 of which were for medical marijuana dispensaries.
2
In the first quarter last year, Marijuana legalization drove the price-per-square-foot for industrial buildings in Denver from $4.43 PSF to what?
YOU'RE CORRECT!
Almost $20 per square foot, according to Bloomberg, which cited research from Reis, Inc. At the end of the third quarter, Colorado Springs had seen industrial rents more than double to over $12 per square foot.
YOU'RE WRONG!
Almost $20 per square foot, according to Bloomberg, which cited research from Reis, Inc. At the end of the third quarter, Colorado Springs had seen industrial rents more than double to over $12 per square foot.
3
Following marijuana legalization in Colorado in January 2014, Denver's first quarter industrial vacancy rate dropped to what?
YOU'RE CORRECT!
3.1 percent, according to the Middletown Press, which cited research from Colliers International.
YOU'RE WRONG!
3.1 percent, according to the Middletown Press, which cited research from Colliers International.
4
Marijuana cultivation and manufacturing facilities in Denver occupied how much space at the end of the first quarter of 2014:
YOU'RE CORRECT!
About 4.5 million square feet, according to Washington Post, which cited research from Xceligent.
YOU'RE WRONG!
About 4.5 million square feet, according to Washington Post, which cited research from Xceligent.
5
How much revenue did taxes, licenses and fees from recreational and medical marijuana deliver to the state of Colorado in 2014?
YOU'RE CORRECT!
About $76 million, according to thecannabist.co. This includes fees on the industry, plus pre-existing sales taxes on medical marijuana products. Taxes need to be kept low if the goal is to eliminate pot’s black market.
YOU'RE WRONG!
About $76 million, according to thecannabist.co. This includes fees on the industry, plus pre-existing sales taxes on medical marijuana products. Taxes need to be kept low if the goal is to eliminate pot’s black market.
