TETERBORO, NJ—The rising use of medical marijuana, a burgeoning trend to legalization of recreational use of marijuana, and the legality of non-hallucinogenic hemp-derived cannabinol oils, or CBD, for consumer use are opening up opportunities in the retail market, but state and local regulations are still tricky to navigate, according to Michael Walters, executive managing director of NAI James E. Hanson's Corporate Services Group.

Walters recently represented Fort Collins, CO-based Palm Organix, which sells premium, pharmaceutical grade CBD products, made from organically grown, industrial hemp in the location of a story in New York state, and he says New Jersey rules are challenging, too.

You can listen to our exclusive audio interview with Michael Walters in the player below. If you don't see a player below, you can click here to listen to the interview.

“Changes to laws and regulations surrounding CBD have made it one of the hottest retail offerings on the market today. However, misconceptions and confusing rules surrounding the usage of retail space for CBD distributors have made it difficult for them to open brick and mortar stores in the tri-state area,” says Walters. “Therefore, it has been vital for these types of operators to work with a brokerage team that has both deep experience in negotiating and advising on leases for a wide range of property types and the required knowledge to provide strategic counsel to clients on this challenging process.”