Medical marijuana growers have leased out space in industrial building s of approximately 25,000 across the state.

The real estate takes advantage of the conditions set for marijuana growers

Ron Boji is knowledgeable of a few things on real estate as well as making it green but very little about on growing it. However that hasn’t stopped the Orchard Lake resident and Lansing based developer from making hefty profits from leasing out space across the state in industrial buildings to medical marijuana growers. Hence, making best of the inadequate space available to individuals working in the state’s growing pot industry.
Boji, who is the president of The Boji Group, is not the only one takes advantage of the opportunity to make money as marijuana growers are in constant search for suitable buildings to set up their shops.

Real estate brokers indicate that small non-descript buildings in the industrial areas are changing ownership at high prices. This attributed to the areas where growers are able to operate in are restricted because of local ordinances as they are required to be at least 500 feet to 1000 feet far apart from institutions such as churches, schools as well as residential areas. They must also be located in specified industrial areas.
These conditions allow owners to significantly mark up prices way beyond what a similar building down the street may demand. Legal experts and brokers pointed to communities including Troy, Warren, Detroit, Commerce and Shelby townships, Livonia among others as being the main targets for the growers.

Comments from marijuana representatives

Michael Komorn, an attorney and also a medical marijuana advocate based in Farmington Hills stated that his law office is acting as a representative of a couple of growers and other parties involved in the medical marijuana industry. He stated further that they have witnessed the real estate sale prices doubling up and the rent prices tripling.

He said, “It would not surprise me if this trend continues as this new industry evolves.”
Boji states that he is planning to lease about seven industrial buildings to large scale growers in communities including Redford Township, Dearborn Heights, Inkster, Warren among others.

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