Chicago-based HerbFront offers mapping services to help cannabis business owners select verified properties that actively comply with local zoning criteria. The company, which originally was targeting commercial real estate professionals but now counts consultants and business owners as the largest types of clients, employs a team of city planners and geographic information systems specialists and has customers in 140 cities paying a minimum of $3500 per year for data in a single county. The company has recently launched a private fund that leverages its own data to identify attractive real estate, which is buys and then leases to cultivators. CEO Matt Chapdelaine sees little competition so far in the company’s technology business:
For such a big industry, I am always surprised at how few technology players there are in cannabis real estate. It is really just us.
Matt Chapdelaine, CEO of HerbFront Capital
We have seen our clients be able to see regulation coming and stay ahead of the curve. They have been able to pounce on deals much earlier than less sophisticated investors.
Read Franco Faraudo’s “Mapping Marijuana: CRE Tech Startup Focuses on Green Zones”: https://cre.tech/mapping-marijuana-cre-tech-startup-focuses-green-zones/