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Recreational retail marijuana averaging $1,513 per square foot in Seattle

•From October 2016 to October 2017, recreational marijuana retailers in the City of Seattle reported $149.5 million in total sales with an average sales per square foot of $1,513.

•This places marijuana retail in Seattle well above the national average across all retailers at $325 and ahead of respected retailers like Nordstrom, Whole Foods, Costco, and Restoration Hardware.

•The top three stores in the Seattle area finished with $5,480, $6,189 and $8,201 sales per square foot, which is in line or better than the most efficient retailer in the US, Apple.

•Low inventory size, simple build outs, lack of competition and high per capita sales have created an environment for incredibly efficient retail.

•Considering that the most efficient retailers typically pay above market rents in high street environments, the proficiency of marijuana retail in largely undesirable locations is made even more impressive. 

Source: JLL Research, WSLCB, CoStar, King County, City of Seattle, Year End Financial Reports​

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