by Angela Gonzales for Phoenix Business Journal
Cannabis-Rx Inc., a Scottsdale-based real estate company that is buying real estate for the medical marijuana industry, has paid $3.26 million for properties in California, Illinois and Florida.
Ryan Hurley, an attorney with Rose Law Group pc in Scottsdale, said he is seeing a trend in over-the-counter public companies looking to capitalize on the expanding popularity and profitability of the legal cannabis markets.
“These types of companies can help fill a niche where traditional debt financing from banks is nonexistent,” Hurley said. “There is a lot of competition in this space, and the devil is in the details. Finding suitable, properly zoned properties is incredibly challenging.”
