New Jersey Cannabis Real Estate & Regulations
Zoned Properties in New Jersey
Population:
9.267 million (2021)
Local Zoned Broker:
Affiliated Partnerships Available
Number of Retail Licenses:
33 (As of June 2023)
Licensing Status:
Awarding licenses since 2022
Legal Status:
Recreational
Cannabis Sales:
$474,407,516 (Adult Use Gross Sales since Legalization)
License Dynamic:
Limited
Delivery Allowed:
Yes
Drive Thru Allowed:
Yes
Own A Profitable Green Zone In New Jersey: Let’s Be Your Guide!
As trivial as it might seem, failure to comply with zoning restrictions can be as hefty and damaging to your business as you can imagine. Some of the penalties include the following:
- Excessive fines imposed by local authorities
- Closure and revocation of your license
- Legal actions and lawsuits
- Injunctions and cease-and-desist orders
- Loss of public support
Don’t leave your business to the chance of falling into any of these traps. Work with our professionals to locate profitable and compliant real estate properties for your Cannabis operations in New Jersey.
We don’t only help you find compliant zones, we also ensure these locations are business-friendly.
Whether you’re buying, selling, renting, leasing, or investing, we provide you with Cannabis real estate that offers you:
- Proximity to resources
- A skilled workforce
- A collaborative ecosystem
- Community acceptance
- Supportive infrastructures, and
- Accessible markets
Site Identification
We will help you identify compliant, business-friendly sites for your Marijuana business. We work with experts with decades of experience in the industry who will guide you and ensure your investment is safe and secure.
Brokerage
Finding profitable real estate properties becomes super easy and straightforward when you work with us. With our team of specialized Cannabis real estate brokers, you can quickly buy into some of the most mouth-watering real estate deals in New Jersey!
Investment
Through our site ID and brokerage services, we gain access to a massive portfolio of real estate properties for our investors. Our investment specialists scrutinize these properties with due diligence assuring our clients good ROI.
Ready To Invest In Cannabis Real Estate In NJ?
Recreational Cannabis sales officially began on April 21, 2022, and the market has been on an upsurge since then, with sales hitting nearly $500 million in the first quarter of 2023. This is coming even after 40 municipalities banned the sale of recreational Cannabis.
There’s a right time for everything, but no time is better than RIGHT NOW to invest in Cannabis real estate in NJ. The state is currently vetting license applications, and once those are rolled out, the market will experience a huge and sustained increase.
Send us a message to find compliant zones in New Jersey today!
New Jersey Cannabis Regulations
State Cannabis Overview: The state of New Jersey began issuing cannabis licenses for medical marijuana businesses in 2011, following the enactment of the Compassionate Use Medical Marijuana Act (CUMMA) in 2010. However, the process for legalizing adult-use recreational cannabis began in November 2020.
The New Jersey Cannabis Regulatory Enforcement Assistance and Marketplace Modernization Act (CREAMMA) was signed into law in February 2021, and the licensing process for adult-use businesses commenced thereafter.
Licensing: The Cannabis Regulatory Commission (CRC) is tasked with issuing and renewing licenses to Cannabis operators in New Jersey. The state is currently accepting license applications for class 1 cultivators, class 2 manufacturers, class 5 retailers, and testing laboratories.
New Jersey offers ten types of licenses to Cannabis businesses, including:
- Recreational use license
- Class 1 Cannabis cultivator
- Class 2 Cannabis manufacturer
- Class 3 Cannabis wholesaler
- Class 4 Cannabis distributor
- Class 5 Cannabis retailer
- Class 6 Cannabis delivery
- Testing and research facility
- Microbusiness licenses
- Conditional licenses: This permits operators to establish their business while working towards meeting the license requirements.
The state has already issued final and provisional licenses to 156 retail businesses; more are in the pipeline to be finalized in the coming months.
Local Authority: Municipalities in New Jersey have the authority to pass laws related to cannabis businesses. They can:
- Authorize specific types of cannabis businesses.
- Set limits on the number of businesses allowed in their jurisdiction.
- Regulate the operating hours and implement zoning restrictions, such as restrictions near school zones or places of worship.
- Create their own licensing regulations and penalties for defaulters.
- Restrict the type of cultivation permitted.
- Impose a 2% transfer tax on cannabis products within their jurisdiction.
- Express their preference for certain businesses to receive licenses from the (CRC).
Note that as of August 2021, 40 municipalities opted out of the Cannabis program, banning the sale or use of Marijuana products within their environs.
The Cannabis industry in New Jersey is strict. Don’t leave room for errors that could lead to a forfeiture of your property or license. Let us help you locate quality, compliant, and trouble-free properties for your business in NJ. Send us a message today!
Median Age: 40
Median Income: $39,814
Regulations last updated as of: August 2023
Have any Questions?
What is the size of the New Jersey cannabis market?
The state of New Jersey only started awarding licenses to Cannabis operators in 2022, awarding only 13 licenses at the time. In the second quarter of that year, recreations Cannabis sales grossed nearly $80 million. Another three quarters after that, the state made nearly $400 million.
Note that this is coming even after around 71% of municipalities banned the use and sale of recreational Cannabis.
Which towns in New Jersey are Cannabis-friendly
While most municipalities in NJ have opted out of the recreational Cannabis program, some states have welcomed it with open arms. Some of them include Bergen County, Atlantic County, Camden, Cumberland, Cape May, Burlington, Gloucester, Essex, Mercer, Hunterdon, Middlesex, Hudson, Monmouth, Union, Sussex, and others.
Who are the biggest cannabis businesses in New Jersey?
Some of the biggest Cannabis companies in NJ are some you probably already know from other states, including Curaleaf, Zen Leaf, and Ascend. Some of the other big actors within the state are Apothecarium Dispensary, Botanist The, BLOC, Earth and Ivy, and Garden State Dispensary.
Still have questions? Contact us
Disclaimer: The information provided on this website does not, and is not intended to, constitute legal, financial, or other professional advice. All information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; Zoned Properties does not recommend or endorse the contents of the third-party sites.
Sources:
https://www.nj.gov/cannabis/businesses/
https://en.wikipedia.org/wiki/Cannabis_in_New_Jersey
https://www.nj.gov/cannabis/documents/reports/Sales%20Numbers%20from%20Q1%202023.pdf
https://www.cbsnews.com/newyork/news/lodi-drive-thru-cannabis-dispensary-apothecarium-route-17/#:~:text=After%20a%20soft%20launch%20a,is%20officially%20open%20for%20business.
https://nj1015.com/more-than-100-nj-towns-are-ok-with-some-form-of-legal-weed/
https://data.nj.gov/stories/s/ggm4-mprw (Number of dispensary licenses)
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