Will Toys for Tots predict the marijuana real estate bust?
I recently read an article in the Denver Post that the nonprofit Toys for Tots is unable to locate warehouse space for their annual toy drive. Without even reading the article, I knew why instantly.
The Denver warehouse market is on fire as a result of one major factor, Marijuana. Since the legalization of marijuana, Denver warehouse space has gone through the roof. As a lender I am seeing this first hand. I was recently asked to lend on a large warehouse in metro Denver. I pulled up the history and in 2010 it was marketed for 2.5m and it did not sell. It is currently under contract for over 8 million to a marijuana grower. This represents a 320 percent appreciation over a 5 year period and the building looks as it did back in 2010 with minimal if any changes.
So what does Marijuana have to do with toys for tots? How will toys for tots predict a bust?
Read Full Article in CO Biz Magazine : http://www.cobizmag.com/Trends/What-happens-when-Toys-for-Tots-meets-marijuana/
Written by Glen Weinberg, COO/ VP Fairview Commercial Lending. Fairview is a hard money lender specializing in private money loans / non-bank real estate loans in Georgia, Colorado, Illinois, and Florida. They are recognized in the industry as the leader in hard money lending with no upfront fees or any other games. Learn more about Hard Money Lending through our free Hard Money Guide.