According to our records, there were a total of 261 Development Permit Applications for cannabis retail stores in the City of Calgary as of August 1, 2018. As of last week, 77 of those applications were already rejected and the expectation is that there will be many more.
A signed lease agreement or certificate of title is required in order to apply for a license. Companies that don’t have “out” clauses in their leases are potentially on the hook for large amounts of future rent without being able to operate a store.
Many cannabis retailers didn’t realize this and failed to mitigate their risk when they entered into lease agreements with savvy landlords and their leasing agents. With so many cannabis groups now scrambling for a way out, we are presenting suitable opportunities for great deals to our clients, such as H&R Block and Starbucks Coffee.
We have already created a data set to know which locations have been rejected and are actively presenting specific locations to our clients at heavily subsidized rents. As opposed to listing agents, the Orange group is dedicated to helping commercial tenants.
We are the most creative firm in the country when it comes to outsourcing real estate & market data to secure great sites, negotiate leases or complete favorable lease renewals. Let us help you today.