High dollar: Dispensary buys its LoDo real estate – BusinessDen

IMG 3715 scaled

The building at 1538 Wazee St. sold for $2.6 million. (Matt Geiger/BusinessDen)

When the Rocky Mountain High dispensary began leasing space at 1538 Wazee St. in 2010, back when the marijuana industry was still young and controversial, its landlord asked them not to put a pot leaf on the door.

“That’s exactly what they did,” said their landlord, Jesse White. 

Now, those once-obstinate tenants own that building. The chain, which has 10 locations across the state, bought the 6,250-square-foot property from White on Tuesday for $2.6 million, public records show. That’s almost $420 a square foot. 


Jesse White

White purchased the property in May 2008 for $1.83 million, records show. He had been in talks for several years with the dispensary about a possible sale, but it didn’t make sense until now, he said. 

“In all actuality, the 5 percent I get on the cash I just got is what I would get on rents, anyway, which shows how depressed

Read More Here...