With consumers legally able to buy the drug both from stores and online in the coming months, the Canadian cannabis market, which saw nationwide sales of US$5.6 billion in 2015, will blossom further – and create fresh demand for vast indoor growing spaces.
A select group of Canada’s largest marijuana growers will need an additional 8 million square feet of industrial space over the next two years, according to JLL research.
Yet across the country, warehouse space is already in short supply. And with pot legalized, the market is likely to get even tighter.
“The opportunity with cannabis is unprecedented,” Gaurav Mathur, Research Manager in JLL’s Capital Markets team, says. “This will be even bigger than the end of prohibition of alcohol, because we have so many more people, acceptance and technology.”
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