New Jersey Real Estate & Cannabis Regulations

Cannabis Status: Opening

Recent Update 2/1/23: New Jersey opened up for applications in December of 2021 and is accepting applications on an ongoing basis for Class 1 Cultivator Licenses, Class 2 Manufacturer License, Class 5 Retailers, and Testing Laboratories.

While there is a statewide cap on cultivator licenses, this will be lifted on February 22, 2023 and then additional rounds of cultivation licensing may begin.

The state is a highly anticipated market due to its geographic location, which will provide several opportunities for those in the state and those just outside the state in the tri-state area. On this page our team has done research on the New Jersey’s demographics, market analysis, taxation, cannabis regulations and more to assist clients in searching for the best property in the state.

Name: New Jersey
Population: 8,910,000
Median Income: $81,740
Cannabis Uses: Growth and Cultivation, Processing, Manufacturing, Preparing, Packaging, Transferring, Retail and Consumption
State Cannabis Overview: Under the bill, a Cannabis Regulatory Commission will be formed to regulate and oversee the licensing structure for the state. In the next few months, we will have more details on how to apply for a cannabis license in New Jersey.

New Jersey applications will be reviewed on an ongoing basis in the following order of priority:

• Social equity (owned by people who have lived in an Economically Disadvantaged Area of the state, or who have convictions for cannabis-related offenses (expunged or not)
• Diversely-owned (minority-owned, woman-owned, or disabled veteran-owned and certified as such by the New Jersey Department of the Treasury in one or more of the listed categories)
• Impact zone applicants (located in an Impact Zone, owned by people from an Impact Zone, or employing residents of Impact Zones.)
• Applicants with “bonus points” from collective bargaining agreements, project labor agreements, or residency of 5 years or more
• All other applicants
• Conditional applications will be prioritized over annual, and microbusiness applications will be prioritized over standard business applications.

Conditional licenses can be applied for to give interim status that gives applicants 120 days to find a site, secure municipal approval, and apply for conversion to annual license.

New Jersey License Cap Updates

• Cultivator licenses are capped at 37 statewide until 2/22/23, there are no other statewide caps.  Local jurisdictions may limit the number of licenses of each class within their jurisdictions.
• There will be a temporary ban on vertical integration (a single business being able to grow, produce, and sell cannabis), except for expanded alternative treatment centers, which may concurrently hold a cannabis cultivator license, cannabis manufacturer license, and cannabis retailer licenses. A license-holder and its owners and operators may concurrently hold one cannabis cultivator and one cannabis manufacturer license, and no other licenses.
• A license-holder and its owners and operators may hold one cannabis retailer license, and no other licenses. However, retailers and delivery services can enter into agreements to provide for the delivery of cannabis items to consumers.
• A license-holder and its owners and operators may hold one cannabis distributor license, and no other licenses. A license-holder and its owners and operators may hold one cannabis delivery service license, and no other licenses.
• After February 2023, the CRC can choose to allow cannabis business license applicants to hold multiple licenses across different classes.

Additional New Jersey Updates on Consumption Lounges

• New Jersey has approved rulemaking for consumption lounge licenses in the state; these regulations are available for public comment until March 18th before adoption.
• A cannabis business can operate only one cannabis consumption area, regardless of the number of Class 5 Retailer licenses the business holds.
• Consumption areas must be attached to a licensed cannabis dispensary and must allow medical patients to consume cannabis products purchased from another dispensary.
• The licensing fee for microbusinesses will be $1,000 and a standard license for other businesses will cost $5,000

Trusted Cannabis Professionals from CREC Directory

View the CREC Directory for our personally vetted and highly recommended professional service providers.

Review our New Jersey cannabis real estate for sale or lease below. We also have businesses in NJ for sale with a cannabis license. Contact us for more information and sign up to be a buyer or a seller on our website to get started with your property in the state of New Jersey.

We can help you find a property in our network, even if not listed in our online inventory. Ask us how!