Jeffrey Greif (left), IOREBA president and executive vice president with First American Title Insurance Co., and Jack Fersko, real estate department co-chair and cannabis practice group chair at Greenbaum Rowe Smith & Davis LLP, were among those on hand for the 2023 Cannabis and Real Estate Conference in Newark. — Photos by William Neuman/Courtesy: IOREBA
By Real Estate NJ
New Jersey’s fast-growing cannabis market and its impact on commercial real estate took center stage last month as part of an event hosted by the Industrial & Office Real Estate Brokers Association and the Mid Atlantic Real Estate Journal.
The April 20 program, which took place at the Newark Liberty International Airport Marriott, included a panel of 11 experts that highlighted the opportunities and challenges that come from participating in the recreational marijuana industry. The market is expected to exceed $33 billion in sales this year, IOREBA noted, creating a wealth of issues related to brokerage, title insurance, compliance and regulation, banking and site control.
Panelists also discussed design and build considerations, zoning and finding sites for cultivation and processing. Panelists included:
- Ed DeVeaux, president of the New Jersey CannaBusiness Association and executive vice president at Burton Trent Public Affairs
- Jack Fersko, real estate department co-chair and cannabis practice group chair at Greenbaum Rowe Smith & Davis LLP
- Michael Moran, special investigations manager at Valley Bank, an expert in both AML and cannabis compliance
