Medical marijuana could prove to be a catalyst for the real estate market in Oklahoma

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The medical marijuana industry is already breathing new life into a number of warehouses and vacant properties in Oklahoma City

New industries always help to fuel economies, sometimes in more ways than one. The increase in medical marijuana acceptance is helping to potentially drive an increase in real estate in one of the harder hit areas in the country, Oklahoma City, OK. Vacant properties and warehouses in the area are already being snatched up as more companies begin to step into the commercial side of legal marijuana.

Ziggyz Cannabis Co., a company that sells hemp products and is expanding into medical marijuana sales at its ten locations, recently purchased a large warehouse in Oklahoma City for its operations. The chain’s owner, Chelsea Davis, said, “Within the next week, I’m expecting licensing and the ability to start selling plants. It’s not the kind of building that you want to preserve or rebuild, so it’s developing something that is otherwise unutilized.”

Another company, publicly-traded Grow Generation, is also taking advantage of the real estate excess in the city. It has purchased a grow and supply store with 10,000 square feet for its operations and could expand even further in the area. It plans to move into the space by the beginning of next month.

The medical marijuana push isn’t just benefiting those within the industry and a number of other businesses are thriving now, as well. Organics OKC, a company that specializes in home gardens, has seen an increase in sales as more people are buying supplies to grow their own medical marijuana. Organics co-owner Janine Bradley explains, “I’m elated to see that our customers have a choice of an organic plant over a big pharmaceutical company.”

While the company has struggled in recent years to turn a profit, it is doing now doing substantially more business. It’s doing so well, in fact, that it has said that it plans on opening a second location.