Ron Throgmartin admits he is “not a marijuana smoker”, but as a businessman he sees an opportunity in commercial cannabis real estate.

He ran his own property firm for 20 years and is now chief executive of Diego Pellicer. The firm develops and leases property for marijuana businesses and has just opened its second US retail outlet with the help of designer Jill Savini, former creative director of the original Apple store.

Ron says he plans to expand into Canada, but he’s “cautious” and sees more earning potential in the larger, neighbouring US market.

“At one point the US will federally legalise cannabis and when that happens, Canada will become an afterthought.”

He also believes legalisation will eventually concentrate industry control into the hands of larger, probably tobacco corporations.

“Their model’s dying so if they don’t find something to transition to they’ll be in trouble.”

So unlike other firms, Ron says he’s in no rush to have weed legalised in the US at a national level.

“[I would like] more time for Diego Pellicer to become a bigger company so we can be a candidate for acquisition from bigger corporations who we can’t compete with.

“I’m always thinking about tomorrow and next year.”