“I’ve had a broker’s license since March 1980,” Brady said. “I have never in my life seen anything like this happen.”One plot was valued at $1.5 million before the zoning changed to allow cultivation, he said; now it’s in escrow for $4 million.Brown, who’s with Lee & Associates, said land that was going for 50 to 90 cents per square foot is now going for $12 to $14.With banks still unwilling to serve medical marijuana businesses due to federal laws against the drug, most land buyers are paying cash, Brown said.
