July 2025 Newsletter
New Jersey Greenlights First Cannabis Consumption Lounges | Senate Panel Moves to Close the Loophole on Intoxicating Hemp | Maryland, Nevada, and Illinois Lead the Nation in Per-Store Sales
Welcome to the July edition of the CannaMLS Newsletter! This month, we’re tracking major progress on multiple fronts. New Jersey approved its first-ever cannabis consumption lounges, opening new real estate and retail possibilities. On Capitol Hill, a Senate subcommittee advanced legislation to close loopholes in the 2018 Farm Bill, aiming to regulate intoxicating hemp products and bring clarity to the broader cannabis market.
We also break down new data from Leaflink’s Summer 2025 report, which highlights Maryland, Illinois, and Nevada as the top-performing states for per-store cannabis retail sales—each surpassing $8 million per dispensary compared to the $2.8 million national average. As momentum builds in high-performing markets, we remain committed to connecting buyers, sellers, and investors across the cannabis property landscape.
Looking to list your property on CannaMLS? Scroll down to read this month’s feature: The Seller’s Playbook a practical guide packed with strategies to maximize your asset’s visibility, attract serious buyers, and close deals faster.
Service Spotlight: For buyers and investors looking for deeper insight, CannaDiligence provides property-level technical reviews and red flag assessments to help you move with confidence in competitive markets .
New Jersey Greenlights First Cannabis Consumption Lounges
On July 9, 2025, the New Jersey Cannabis Regulatory Commission (CRC) approved the state’s first four on-site cannabis consumption lounge endorsements, clearing the way for adults 21 + to legally enjoy cannabis in designated areas at licensed dispensaries.
The inaugural approvals went to minority- and women-owned retailers in Atlantic City, Newark, and Merchantville. Each lounge must still secure local municipal consent, but regulators hailed the move as “a major milestone” that will expand safe-use infrastructure while boosting foot-traffic for cannabis real estate assets.
Lounges cannot sell alcohol or tobacco, yet patrons may bring outside food or order delivery—an arrangement expected to drive surrounding hospitality revenue. CRC chair Dianna Houenou noted the decision advances social-equity goals by prioritizing diverse business owners and offering consumers a legal alternative to public consumption.
Industry analysts predict the new venues will energize New Jersey’s fast-growing cannabis market, which already boasts more than 200 dispensary licenses and generated over $800 million in sales last year. Real-estate professionals anticipate increased demand for retail properties capable of accommodating lounge build-outs.
Senate Panel Moves to Clarify Hemp Rules, Boosting Cannabis Investor Confidence
A Senate agriculture subcommittee has approved legislation aimed at closing loopholes in the 2018 Farm Bill that have allowed unregulated psychoactive hemp products to flood the market. The measure—championed by Senator Mitch McConnell—redefines hemp to ban products with “quantifiable” levels of intoxicating cannabinoids like delta8 and delta10 THC, and directs federal agencies to establish clear potency caps, labeling standards, and enforcement protocols.
Regulated cannabis businesses welcome the move, arguing that stricter oversight will channel consumer demand away from untested gray-market gummies and toward state-licensed dispensaries that follow rigorous safety protocols. The clarification is expected to protect public health, reduce legal uncertainty, and spur greater investment and M&A activity for the cannabis sector.
While most hemp companies oppose these additional restrictions, mainstream investors see a clearer rule set as essential for long-term growth of the cannabis industry overall. “Capital likes certainty,” noted one analyst, “and this bill gives the market a roadmap that should unlock fresh funding for compliant operators nationwide.”
What’s next: The legislation now heads to the full Senate Appropriations Committee, where it could be incorporated into the broader FY 2026 spending package. A one-year implementation delay has been included to allow businesses time to adjust. A parallel measure has already passed the House Appropriations Committee, signaling growing bipartisan momentum to end the era of unregulated intoxicating hemp products.
Source
Average Per-Store Sales by State
Retail Sales Per Dispensary: Maryland, Illinois, and Nevada Outperform as National Average Hits $2.8M Leaflink’s Summer 2025 State of the U.S. Cannabis Industry report, based on real-time in-store sales data, showcases impressive momentum in several key state markets. Maryland, Illinois, and Nevada lead the nation in retail sales per dispensary, each generating over $8 million per store—nearly triple the national average of $2.8 million.
Maryland’s strong performance reflects continued enthusiasm in its adult-use rollout, even as sales normalize slightly heading into the summer. Nevada remains a powerhouse, with consistent demand fueled by robust tourism and brand-driven consumer experiences. Illinois also posted significant gains, highlighting the strength of limited-license, high-demand markets.
Additional highlights: • New York appears to be stabilizing around the national average as the market matures. • Oklahoma and Alaska remain at the bottom in sales per store, likely due to oversaturation and limited demand density.
Overall, the data signals strong market fundamentals in states with thoughtful licensing structures and sustained consumer demand—laying the groundwork for continued investment, consolidation, and retail success.
Industry News
Regulatory Changes Encouraging Growth in Mature Markets
Washington: Social Equity Licensing Spurs Retail Expansion
- Largest Expansion in a Decade
- Regulators accepted 52 new retail licenses, prioritizing applicants from communities harmed by prohibition.
- Vacancies Filled
- Dozens of storefronts are expected to be leased, revitalizing commercial corridors statewide.
- Community Benefits
- New shops will create jobs and channel revenue into neighborhoods most affected by past enforcement.
Oregon: New Laws Fuel Market Growth and Investment
- Five Year Licenses
- SB 162 allows license renewals for five years, giving businesses stability for long term leases.
- Trade Event Flexibility
- SB 558 permits seed and sample sharing plus wholesale transfers at events, sparking cultivation build-outs.
- Brand Building
- HB 3274 replaces vague ad bans with clear rules, helping retailers attract foot traffic and investors.
Massachusetts: Social Equity Program Restarts, Driving Retail Momentum
- Program Resumes
- The Cannabis Control Commission will reopen training on September 8 with new applications accepted from August 1.
- Pipeline of Operators
- 229 participants are moving closer to opening dispensaries and grow sites, boosting demand for retail and industrial space.
- Market Diversification
- A broader ownership base is expected to attract fresh capital and expand Massachusetts’ cannabis real estate footprint.
Sources
1. Ganjapreneur – “New Rules Aim at Eliminating Odor from Washington Marijuana Facilities,” 3 Jul 2025 2. Harris Sliwoski – “Oregon’s New Cannabis Laws: 2025 Edition,” 11 Jul 2025 3. Marijuana Moment – “Massachusetts Social Equity Cannabis Program Is Back on Track,” 14 Jul 2025
The Seller's Playbook: Maximize Your Asset's Value
To succeed on CannaMLS, don't just post an ad—strategically market your asset. A strong listing attracts qualified buyers, justifies your price, and helps you close deals faster. Here's how to create a listing that gets results.
Part 1: Craft a Winning Listing
- Write a Powerful Title: Avoid generic titles. Be specific to grab attention and highlight value, including location, status, and key features.
- Example: "Fully Operational & Profitable Dispensary (Corona, California)"
- Use High-Quality Photos: Upload 3–6 clear, well-lit photos of your actual property and equipment. Authentic images build instant credibility and help buyers visualize the opportunity. Avoid stock photos.
- Tell a Compelling Story: In the description, detail your asset's strategic advantages. Highlight power capacity (3 Phase), HVAC systems, license status, and water rights. Frame any challenges as a value opportunity for a savvy buyer.
- Categorize for Visibility: Select all relevant categories for your asset (e.g., Cultivation, Manufacturing, Distribution) to ensure you appear in the maximum number of buyer searches.
Part 2: Actively Manage Your Sale
- Track Your Analytics: Your listing is a live campaign. Use the platform’s analytics to track its performance.
- If views are low, your title or main photo might be the problem.
- If you have views but few inquiries, your description or price may need adjustment.
- Engage Promptly: Use the integrated messaging system to respond quickly to buyer inquiries. Keeping all communications organized on the platform appears professional and efficient.
By actively managing your listing and using data to make informed decisions, you move from passively waiting to proactively selling.
Strategic Listing Tips: Best Practices vs Common Mistakes
| Listing Component | Basic Approach (Common Mistake) | Strategic Approach (Best Practice) | Rationale (Why it Matters) |
|---|---|---|---|
| Listing Title | "Grow for Sale, OK" | "Turnkey Climate Controlled Hybrid House: Cultivation, Manufacturing, Distribution (Vassar, MI)" | Attracts specific, qualified buyers and improves search relevance. |
| Primary Photo | Low-quality phone picture or stock photo of a cannabis leaf. | Bright, well-composed photo of the facility’s best feature (e.g., storefront, main grow room, extraction lab). | Builds credibility and avoids the appearance of an unprofessional seller. |
| Description | "10,000 sq ft building. Call for details." | Details the strategic opportunity, highlighting ROI potential, licenses, and infrastructure like 3-phase power or water rights. | Appeals to C-suite buyers and pre-answers due diligence questions. |
| Pricing | An arbitrary, undefendable asking price. | "Contact for Price" or pricing based on revenue, EBITDA, or asset value. "$1" can signal a "Call for Offers" process. | Unrealistic pricing deters inquiries. Strategic pricing generates more conversations and competitive bids. |
| Attachments | None | Attach PDF with site plan, equipment list, and other relevant company information. | Demonstrates transparency and pre-qualifies serious buyers. |
| Categories | Selects only one category (e.g., "Dispensary"). | Selects all applicable categories (e.g., "Dispensary", "Distribution", "Home Delivery"). | Maximizes visibility in filtered searches by diverse buyer types. |
Service Spotlight: Professional Cannabis Production Facility Due Diligence Services
“CannaDiligence is a comprehensive performance evaluation of cannabis production facilities involved in M&A transactions. CannaDiligence assessments deliver detailed analysis of production capacity based on infrastructure, facility cost structure evaluation, operational process efficiency profiling, and operating risk assessment. We evaluate facility historical P&L performance characteristics, identify strengths of the asset in addition to potential productivity improvements and cost saving opportunities, and provide conceptual financial impact analysis that helps lenders, buyers, and sellers make informed decisions about cannabis cultivation assets. The CannaDiligence technical team combines deep facility engineering expertise with systematic assessment methodologies to evaluate infrastructure, equipment efficiency, resource usage, and compare to the millions of square feet in the marketplace. We work with institutional investors, private equity firms, banks, and commercial real estate professionals to help manage risks associated with acquiring existing cultivation facilities. Each CannaDiligence assessment includes integration analysis for future asset consolidation and quantified recommendations for operational enhancements, delivering the quality due diligence required for sophisticated cannabis real estate transactions.”
— Sam Milton, Program Director at CannaDiligence