Opportunities—and pitfalls—abound when it comes to leasing to cannabis businesses in the newly opening market of adult use marijuana in the New York metropolitan area and beyond.
Consider Gap Inc.: the company, which also owns Banana Republic and Old Navy, has announced plans to open 30 to 40 stores in the next three-year period. The assumption is that these will be all off-mall locations since The Gap recently announced the closing of 30 percent of its in-mall stores. Following these closures, 80 percent of Gap locations will be off-mall.
The Deputy Secretary of the U.S. Treasury sent a memo to Congress asking for greater focus on the creation of new housing, reports Vox. Airbnb and Vrbo are battling out for more vacation cabin rentals, according to The Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
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