MJBiz - March/April 2024 - 10

FIVE QUESTIONS
with Jason Vedadi
Real Estate Reprieve
CEO says plant-touching properties are getting easier to access
By Kate Lavin
B
efore Jason Vedadi
founded his first marijuana
company, he was a real
estate developer with experience
launching construction and mortgage
businesses.
Vedadi left his position as chair
of Harvest Health & Recreation
in 2020 to create Oasis Cannabis,
a vertically integrated cannabis
company in Arizona. He sold
Oasis to Ayr Wellness in 2021,
only to buy it back in 2023 with
a group of investors after launching
Story Cannabis, where he
serves as CEO.
Knowing that real estate is
one of the first major hurdles
cannabis entrepreneurs must
tackle when launching a business,
MJBizMagazine spoke with
Vedadi about finding the right
property and what it's like to
resume managing a business
you've sold to new ownership.
What cannabis business
sector has the hardest time
finding real estate?
Zoning is a pretty sensitive area.
It's becoming less sensitive-it
depends on the jurisdiction of
the state you're in.
Cultivation generally can be
out in farmland or rural industrial
parks, so those are generally not
as sensitive uses.
Whereas residential homes,
schools, churches and day cares
are more of a sensitive use for
setbacks. You're going to see
more of that (affect) retail than
you're going to see in rural or
industrial locations.
10 March-April 2024 | MJBizMagazine
As crazy as it seems, we don't
have law enforcement show up
to dispensaries because they
know there are cameras on the
outside. If there's been a report
of a crime, an accident or a robbery
nearby, (law enforcement
might) actually use our camera
systems to facilitate some of
their investigations.
I think we've been overregulated
on what people's general
fears are. And as time has
passed, the general public has
kind of figured out that these
cannabis stores are really not
causing any harm.
What should cannabis
companies look for in a
construction partner when
building out facilities?
For cultivation, they really
need to talk to contractors and
get engineers that have done
(cultivation sites) over and over
and over for the better part of a
decade.
There's been a massive transition
and sophistication to the
cultivation facilities of what
works and doesn't work. And
then, obviously, the outside
environment has something to
do with the inside environment
and how to control inside
environments.
On the retail side, I think you
can use anyone as construction
partners. It does help if they've
done some construction work in
that state because the security
rules are different: how the cameras
have to be set up, vaults.
You ended up buying back
Oasis Cannabis after selling
it. How did that happen,
and what were the pros and
cons of that experience?
The sale had features in it that
would allow us to get some
enhancement out of the sale,
depending on how the business
performed.
And the company we sold
it to was kind of at odds on
how that was being formulated.
Rather than go fight a
long legal battle, both groups
decided that it was better for
us to buy it back. So that's kind
of what happened.
The cons would be, once you
start something, your brain
kind of moves on. It's not yours
anymore, so you're not thinking
about it anymore.
A pro is that we decided to
go for a much bigger business
this time around, build a larger
business the second time. And
Arizona is home base for us, the
market we know the best. So, it
opened our ability to come back
and expand.
What do you look for when
you are hiring staff?
Those are very broad questions
because, if you're asking me
for my facilities manager, it'd
be somebody who potentially
comes from a military
background: very organized,
deals with security and process.
If you're asking me for people
in retail, I would say something
like culture because we have an

MJBiz - March/April 2024

Table of Contents for the Digital Edition of MJBiz - March/April 2024

MJBiz - March/April 2024 - Cover1
MJBiz - March/April 2024 - Cover2
MJBiz - March/April 2024 - 3
MJBiz - March/April 2024 - 4
MJBiz - March/April 2024 - 5
MJBiz - March/April 2024 - 6
MJBiz - March/April 2024 - 7
MJBiz - March/April 2024 - 8
MJBiz - March/April 2024 - 9
MJBiz - March/April 2024 - 10
MJBiz - March/April 2024 - 11
MJBiz - March/April 2024 - 12
MJBiz - March/April 2024 - 13
MJBiz - March/April 2024 - 14
MJBiz - March/April 2024 - 15
MJBiz - March/April 2024 - 16
MJBiz - March/April 2024 - 17
MJBiz - March/April 2024 - 18
MJBiz - March/April 2024 - 19
MJBiz - March/April 2024 - 20
MJBiz - March/April 2024 - 21
MJBiz - March/April 2024 - 22
MJBiz - March/April 2024 - 23
MJBiz - March/April 2024 - 24
MJBiz - March/April 2024 - 25
MJBiz - March/April 2024 - 26
MJBiz - March/April 2024 - 27
MJBiz - March/April 2024 - 28
MJBiz - March/April 2024 - 29
MJBiz - March/April 2024 - 30
MJBiz - March/April 2024 - 31
MJBiz - March/April 2024 - 32
MJBiz - March/April 2024 - 33
MJBiz - March/April 2024 - 34
MJBiz - March/April 2024 - 35
MJBiz - March/April 2024 - 36
MJBiz - March/April 2024 - 37
MJBiz - March/April 2024 - 38
MJBiz - March/April 2024 - 39
MJBiz - March/April 2024 - 40
MJBiz - March/April 2024 - 41
MJBiz - March/April 2024 - 42
MJBiz - March/April 2024 - 43
MJBiz - March/April 2024 - 44
MJBiz - March/April 2024 - 45
MJBiz - March/April 2024 - 46
MJBiz - March/April 2024 - 47
MJBiz - March/April 2024 - 48
MJBiz - March/April 2024 - 49
MJBiz - March/April 2024 - 50
MJBiz - March/April 2024 - Cover3
MJBiz - March/April 2024 - Cover4
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-may-june-2024
https://www.nxtbook.com/emerald/MJBizMag/20240304
https://www.nxtbook.com/emerald/MJBizMag/20240102
https://www.nxtbook.com/emerald/MJBizMag/20231112
https://www.nxtbook.com/emerald/MJBizMag/202310
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-cannabis-packaging-23
https://www.nxtbook.com/emerald/MJBizMag/202309
https://www.nxtbook.com/emerald/MJBizMag/202308
https://www.nxtbook.com/emerald/MJBizMag/202307
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-april-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-retail-strategy-23
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-lighting-23
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2022
https://www.nxtbook.com/emerald/MJBizMag/202210
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-sustainability
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-cannabis-retail
https://www.nxtbook.com/emerald/MJBizMag/202204
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-cannabis-security
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag
https://www.nxtbook.com/emerald/MJBizMag/202208
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2022
https://www.nxtbook.com/emerald/MJBizMag/2022-buyers-guide-indoor-grow
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-packaging-automation-buyers-guide-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-october-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmagazine-september-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmagazine-september-2021-lighting-buyers-guide
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-august-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-april-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-october-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-september-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-august-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2020
https://www.nxtbookmedia.com