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<![CDATA[In a year already brimming with industry headlines, perhaps the most anticipated storyline comes to us from New York State, where a new adult-use cannabis market awaits us all. "It's undeniable how strong of a market New York will be for cannabis," says Anthony Coniglio, CIO of cannabis real estate investment trust NewLake Capital Partners. "People do expect that this will be a very, very large state in the cannabis ecosystem as the industry converts illegal sales into legal sales." The population density alone is an ace card in New York's portfolio, but so too is its geographic placement in the country and its cultural cache. Perhaps the most notable asset on the table is New York City itself, home to more than 8 million people and a sprawling metropolitan area. There is the temptation, naturally, to seek out real estate and eventual business operations within the city, but opportunities reveal themselves all over the state."Some of the best dispensaries that we see are located in secondary or tertiary markets," Coniglio says. "People rush into the highly dense population centers often to find that that, yes, they're highly dense, but you have a fair amount of, say, commuter traffic. So, I would focus on population density but also the dynamics of the population."As of February, about a third of all New York municipalities had opted out of the impending adult-use market. Most of those municipalities are the smaller towns and villages that dot the upstate landscape. But Coniglio is quick to assert: Don't write off those towns and villages."I certainly can't speak for the hundreds of municipalities that opted out, but what I hear is that most of the time municipalities don't know what the rules are going to be," he says, "and so they'd rather opt out now, wait for…

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Source : How to Plan Ahead and Secure Real Estate for New York's Adult-Use Cannabis Market

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