Jim Finnel
Fallen Cannabis Warrior & Ex News Moderator
The high vacancy rate of Class B and C office properties of the north central San Fernando Valley have made them a preferred location for medical marijuana dispensaries.
That can be good news for landlords who may welcome a tenant that is willing to pay above-market rent and writes a check for multiple months rent ahead of time.
Lee & Associates broker Jay Martinez, who currently represents four different properties that have cannabis stores, has developed lease language that gives landlords “the ability to take preventive measures,” should existing tenants take issue with the new lessee, or if the feds target them.
Less sophisticated building owners may not be aware of the potential risks involved, said Martinez. That includes other tenants becoming agitated about having what they perceive as a “drug dealer” operating out of their building and threatening to move out.
Or the federal Drug Enforcement Agency telling a landlord they’re going to seize their property because they are aiding and abetting the sale of an illegal substance.
“It’s not really verbose,” said Martinez, “but should anything arise, the landlord can move accordingly toward an expedited relocation.”
A Los Angeles Superior Court judge recently upheld a ruling that allows landlords to evict medical marijuana sellers who may be less than candid about exactly what kind of “medical dispensary” they will be operating when they sign their lease. The ruling was a result of a Northridge landlord’s attempt to evict their tenant, Today's Health Care Inc.
– Linda Coburn
News Hawk: User: 420 MAGAZINE ® - Medical Marijuana Publication & Social Networking
Source: San Fernando Valley Business Journal
Copyright: 2008 San Fernando Valley Business Journal Associates
Contact: San Fernando Valley Business Journal Online - San Fernando Valley California business news"
Website: https://www.sfvbj.com/industry_arti...365285.1664182.8509303.495652.435&aID2=128005
That can be good news for landlords who may welcome a tenant that is willing to pay above-market rent and writes a check for multiple months rent ahead of time.
Lee & Associates broker Jay Martinez, who currently represents four different properties that have cannabis stores, has developed lease language that gives landlords “the ability to take preventive measures,” should existing tenants take issue with the new lessee, or if the feds target them.
Less sophisticated building owners may not be aware of the potential risks involved, said Martinez. That includes other tenants becoming agitated about having what they perceive as a “drug dealer” operating out of their building and threatening to move out.
Or the federal Drug Enforcement Agency telling a landlord they’re going to seize their property because they are aiding and abetting the sale of an illegal substance.
“It’s not really verbose,” said Martinez, “but should anything arise, the landlord can move accordingly toward an expedited relocation.”
A Los Angeles Superior Court judge recently upheld a ruling that allows landlords to evict medical marijuana sellers who may be less than candid about exactly what kind of “medical dispensary” they will be operating when they sign their lease. The ruling was a result of a Northridge landlord’s attempt to evict their tenant, Today's Health Care Inc.
– Linda Coburn
News Hawk: User: 420 MAGAZINE ® - Medical Marijuana Publication & Social Networking
Source: San Fernando Valley Business Journal
Copyright: 2008 San Fernando Valley Business Journal Associates
Contact: San Fernando Valley Business Journal Online - San Fernando Valley California business news"
Website: https://www.sfvbj.com/industry_arti...365285.1664182.8509303.495652.435&aID2=128005
