Real Estate

ALBUQUERQUE, N.M. (AP) -- On a patch of tribal land in western New Mexico, a company plans to build a $160 million state-of-the-art greenhouse for researching and growing medicinal plants, including marijuana.

With recreational marijuana use on the verge of becoming legal in Maine, real estate brokers are seeing a jump in demand for industrial spaces that could become indoor marijuana farms in the not-too-distant future.

With recreational-use of marijuana set to be legalized for Californians in 2018 and with more cities in San Diego County approving medical-use, investors in the marijuana industry are snatching up properties.

Legal marijuana operations are finding space to grow and store their product by paying premium rents for warehouse space.

An Eagle Point company that provides warehouse space for marijuana growers is planning a marijuana-friendly camping and RV park near Lake Selmac in Josephine County.

"I would look and I would think to myself what can I put here? What can we do? It hit me. This could be a medical marijuana facility."

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