Recreational Cannabis Dispensary Lease
(Pro-Landlord)

Summary

This template is a long form retail lease agreement which may be utilized for a leasing transaction that involves a turnkey recreational (as opposed to strictly medical) cannabis dispensary space. This template is a net lease for a stand alone building. This template includes practical guidance, drafting notes, and alternate and optional clauses. This template is drafted from the perspective of the landlord but includes drafting notes, and alternate and optional clauses from the tenant's perspective, as well as optional clauses to address the most common situations. Recreational cannabis dispensary leases for stand alone buildings are most commonly triple net leases, whereby the tenant solely assumes additional financial responsibilities beyond the base rent. These obligations include property taxes, insurance premiums, and maintenance costs entitled "CAM." The template should not be used when significant construction work is required to make the leased premises suitable for the tenant's intended use. Always be sure to consult local counsel to ensure the lease complies with all jurisdictional requirements and especially local cannabis regulations. For a full list of Practical Guidance content relating to cannabis, see Cannabis Resource Kit. For a full list of content relating to retail leasing, see Retail Leasing Resource Kit. For further guidance regarding cannabis and real estate, see Medical and Recreational Marijuana State and Local Law Survey and State-Legalized Marijuana and Real Estate.