DENVER—Taylor Consulting, a Houston-based basketball consulting firm, with a new real estate investment subsidiary, plans to jump into Denver's warehouse market, saying the Colorado's cannabis industry is driving up demand.

“Colorado's cannabis industry is poised to expand just as fast as the available real estate will allow,” said Taylor CEO Scott Wheeler. “Tenants are competing hard for spaces, and we believe there may be an opportunity in Denver and other markets to capitalize on the enormous demand from the rapidly emerging cannabis sector.”

Since voters in Colorado legalized cannabis in 2012, growers and distributors have snatched up much of the newly-available warehouse space in Denver, which is a major Western logistics hub. Cannabis producers require large spaces to grow, package and store their products, and the Wall Street Journal reported earlier this week that these “cannabusinesses” have accounted for nearly a third of all the new warehouse leases in Colorado over the past 18 months.