New type of tenant in US growing like a weed

Quincy, Massachussetts

AT THE edge of an industrial park in this suburb south of Boston, past a used-car auction lot and a defunct cheese factory, is an unmarked warehouse bristling with security cameras and bustling with activity.

Until recently, the cinder-block structure was home to a wholesale florist, a granite cutter and a screen printer. Today, it is home to just one tenant: a medical marijuana operation called Ermont.

Legalised marijuana has upset societal norms, created a large legal grey area and generated a lucrative source of tax revenue. Now it is upending the real estate market, too.

In the more than two dozen states that have moved to legalise pot, factories, warehouses and self-storage faciliti…