Secondary market emerges for MN cannabis licenses
FOX 9 reports Minnesota recreational cannabis licenses are being listed and resold on secondary markets, with more than 80 licenses recently posted at combined asking prices once above $100 million. One local example is a former Wendy’s site in Roseville marketed with city approval and a lease, though any change in majority ownership would reset its place in the city’s queue for three retail licenses; all transfers require approval from the Office of Cannabis Management.
📌 Key Facts
- At least 80 Minnesota cannabis licenses were recently posted for sale, with combined asks once topping $100 million.
- Listings include a Roseville Wendy’s site marketed with city approval and a locked-in lease but no state license; majority-ownership changes would push it back in line for one of Roseville’s three retail slots.
- State law permits license transfers only with Office of Cannabis Management approval; some listings seek up to $1.5M for cultivation licenses and $1M for five-store retail packages.