Sacks Tierney P.A.

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Global Cannabis Industry: The Essential Primer

Global Cannabis Industry: The Essential Primer. Janet Jackim is a quoted authority on  business trends in Arizona's cannabis industry in this October 2019 Meritas publication


Marijuana Business Daily

"Arizona's Sizzling Medical Marijuana Market Entices Investors"  Janet Jackim is quoted in the September 27, 2018, issue of Marijuana Business Daily.


Janet Jackim on Money Radio 1510

Cannabis Business. On August 29, 2019, Janet Jackim was interviewed by Money Radio 1510 host Bryan Detwiler regarding business and legal issues in the cannabis industry.


Medical Marijuana. On January 4, 2018, Janet Jackim commented for Channel 12 News on the Justice Department's decision to rescind the policy that allowed for the sale and use of medical marijuana.


International Cannabis Bar Association

Arizona Cannabis Bar Association

National Organizatoin for the Reform of Marijuana Laws (NORML)

Arizona Marijuana Industry Trade Association

Hemp Industry Trade Association of Arizona
Arizona Cannabis Chamber of Commerce

Medical Marijuana Licensing. On July 16, the Arizona Cannabis Chamber of Commerce will host a Zoom meeting regarding the new Department of Health Services Medical Marijuana Licensing Management System. | More information

Lawyer Legion Community Leadership

 

 

Janet E. Jackim

Best Lawyers in America® honoree Janet Jackim brings Fortune 500 business practices and legal skills to private companies, with a cutting-edge emphasis on Arizona’s legal cannabis industry.

With the legalization of medical marijuana in Arizona, Janet Jackim has focused her business and real estate practice on advising businesses making their mark in the cannabis industry: dispensaries, farmers, cultivators, and producers; investors, partners and lenders; vendors; and landlords and tenants. She has served as counsel to dispensary certificate applicants and facilitated partner dispute resolution, buyout transactions, and business restructuring. With the assistance of local counsel, Janet advises multistate operators regarding the acquisition of cannabis operations across the nation.

Janet is a former real estate vice president and assistant general counsel at Circle K and has completed more than $1 billion (sales price) in mergers and acquisitions of private companies during almost four decades as a commercial real estate, business and, most recently, cannabis business attorney.

Her sound legal advice, coupled with advanced technical, operational and financial business acumen, provides a robust representation in this emerging, rapidly changing industry. For industry leaders, entrepreneurs and innovators, Janet’s creativity is an added plus to analyzing and resolving the cannabis client’s issues.

To stay abreast of ever-changing Arizona and federal cannabis news and developments, Janet actively participates in the Arizona Cannabis Bar Association (secretary), the International Cannabis Bar Association, and numerous trade organizations, including the Marijuana Industry Trade Association, Arizona Cannabis Chamber of Commerce (board member), and Hemp Industry Trade Association. Janet is also a co-chair and contributing member of the Meritas Cannabis Practice Steering Committee of North America, working with law firm affiliates across the United States.

Janet also co-authored an amicus brief on behalf of prescribing doctors in State v. Jones. The Arizona Supreme Court’s 2019 ruling in that case protects medical marijuana patients’ access to ointments, suppositories, edibles, tinctures and other resin-extracted products under the Arizona Medical Marijuana Act (AMMA).

Practice Areas

Cannabis Business Law

Acquisitions and Dispositions

Real Estate Law

Business and Corporate Law

Equity and Debt Finance

Loan Workouts

 

 

Janet Jackim presented "Arizona Dispensary M&A Transactions: Not Your Typical M&A” at a State Bar of Arizona CLE seminar in March 2020 

Honors and Awards

AV-Preeminent® Rating, Martindale-Hubbell®

The Best Lawyers in America, Real Estate Law, 2018, 2019

“2006 Leading Lawyers,” Phoenix Business Journal

Representative Transactions

Represented the acquirer and affiliates in a series of transactions for the takeover of a medical marijuana dispensary and its cultivation facility, kitchen, and management team. Obtained the dispensary’s emergence from a receivership, prosecuted claims, favorably settled litigation, restructured its debt and negotiated new contracts.

Represents out-of-state companies in their Arizona dispensary and cultivation facility acquisitions as local counsel, with an emphasis on due diligence, acquisition mechanics, marijuana-related due diligence activities, Department of Health Services transitions, and strategic planning.

Negotiated and documented a complex commercial real estate lease for a medical marijuana dispensary site interrelated with a comprehensive cultivation subcontractor management agreement for the dispensary’s cultivation facility, resulting in the landlord’s substantial investment in the real estate for the benefit of the tenant-dispensary.

Provided federal and state regulatory compliance guidance to a hemp/CBD products distributor, with special attention to U.S. Food and Drug Administration oversight issues.

Counsels Arizona cannabis companies on strategic business and legal planning activities for initial public offerings, private offerings, mergers and strategic business alliances.

Prepared and negotiated complex commercial leases, loans, partnership agreements and vendor contracts for businesses in the cannabis market.

Member of a team of zoning professionals that challenged local governments resisting dispensary locations in their cities, created new locations through rezoning and variance applications, and appealed misinterpretations of zoning laws applicable to dispensaries.

Responsible for the aggressive growth and turnaround, pre- and post-bankruptcy, of The Circle K Corporation’s real estate portfolio. Built a strategic business plan for the company’s 25 geographic markets, requiring site-by-site analysis (financial, real estate/location demographics, and capex requirements). Led nationwide 50-person real estate sales staff and back-office administration group of 100-200 employees for the purpose of selling 2,500 REOs, resulting in $100 million cash. Assessed company’s 6,000 real estate holdings (convenience stores, gas operations, office buildings, warehouses, vacant land and buildings, and speculative land deals) for profitability. Closed and sold 2,500 under-performing properties. Renegotiated 1,500 commercial leases to produce $15 million in annual rent savings.

Negotiated commercial stabilization loans, loan workouts and bankruptcy resolutions on behalf of lending institutions, FDIC affiliates and commercial borrowers. Conducted trustee’s sales, initiated litigation enforcing commercial loan transactions, defended litigation for receivership appointments and loan defaults, and prepared forbearance and other settlements.

Through administrative and litigation proceedings, prosecuted municipal zoning actions that wrongfully discriminated against cannabis businesses.

As a result of her knowledge of market rents in the cannabis industry, attained for a property owner more than three times the tenant’s offered rent for a dispensary and cultivation site and negotiated other pro-landlord lease provisions.

Bar Admissions

Arizona, 1986

Colorado, 1978

Appellate Briefs

State of Arizona v. Jones, 245 Ariz. 46 (App. 2018) (amici curiae)

Professional Activities

State Bar of Arizona

Colorado Bar Association

Maricopa County Bar Association: Chair, Real Estate Section

International Cannabis Bar Association

Arizona Cannabis Bar Association: Secretary

Meritas Cannabis Practice Steering Committee of North America: Co-Chair

Industry and Trade Memberships

National Organization for the Reform of Marijuana Laws (NORML): Legal Committee

U.S. Hemp Farming Alliance

Marijuana Industry Trade Association  (MITA)

Hemp Industry Trade Association of Arizona (HITA)

Arizona Cannabis Chamber of Commerce: Board of Directors

West Valley Commercial Real Estate Group

Arizona Business Brokers Association: Member; Secretary/Board of Directors, Central Chapter, 2013

CoreNet Global, Phoenix Chapter

Quoted

Legal Cannabis Initiative Files 420,000 Signatures in Arizona in Preparation for November Ballot,” Pot Network, July 2, 2020

Large Cannabis Operators Positioned to Dominate Potential Arizona Recreational Cannabis Market, Shut Out Small Businesses,” Marijuana Business Daily, March 13, 2020

Articles

Commercial Leasing to an Arizona Cannabis Business,” Sacks Tierney Client Newsletter, January 2020

Acquiring an Arizona Medical Marijuana Dispensary License Now May Be the Ticket to Obtaining an Adult-Use Dispensary License in 2020,” Sacks Tierney Client Newsletter, December 2019

"Cannabis Developments Keep Coming,” June 2019

Arizona Supreme Court: Arizona Medical Marijuana Act (AMMA) Protects Possession of Marijuana Extracts,” May 2019

Federal Court Rules that Walmart Firing Violated the Arizona Medical Marijuana Act” (co-author), Sacks Tierney Client Newsletter, May 2019

Decriminalization of Hemp Raises New Opportunities in Agriculture, Medicine, Fibers/Textiles and Biofuels,” January 2019

“Court of Appeals: Hashish Possession Not Protected by the AMMA,” June 2018

"Trump Agreement with Colorado Senator a Positive Sign for the Cannabis Industry," April 2018

"HOA Boards: Don’t Write Off Delinquent Assessments of Owners or Their Foreclosing Lenders!" Common Ground, Community Associations Institute, September/October  2016

"Unclaimed Death Benefits: What Life Insurance Companies Know (But You Might Not)," August 2016

"Due Diligence in Buying Commercial Real Estate: Acreage, Apartments or a Building," February 2015

"10 Commonly Overlooked Clauses in Commercial Real Estate Transactions," October 2014

Presentations

“Arizona Dispensary M&A Transactions: Not Your Typical M&A,” State Bar of Arizona CLE, March 2020 | Watch Video (19:11)

“Learning to Leverage: Strategies and Practices in Lease Renegotiations,” West Valley Commercial Real Estate Group, March 2020 | View Powerpoint PDF

“‘Buying’ an Arizona Medical Marijuana Dispensary: Not Your Typical M&A,” January 2020 | View PowerPoint PDF

“Legal Cannabis and the Health Care Industry” (moderator), Meritas US/Canada Healthcare and Marijuana/Cannabis Law Groups, November 2019 | View webinar

Opportunities and Challenges with Cannabis” (co-presenter), Fall Meeting, Meritas Litigation and Labor & Employment Practice Groups, October 2019

“Arizona Cannabis M&A Transactions: Not Your Typical M&A,” State Bar of Arizona Annual Convention, June 2019

’What’s in Those Brownies’: Commercial Real Estate and the Developing Medical Marijuana Marketplace,” September 2018

Strategies and Practices in Lease Renegotiations: Learning to Leverage,” West Valley Commercial Real Estate Group, May 2018 | Evidence Chart

Due Diligence ‘Best Practices’ in Real Estate Transactions,” April 2018

Strategies and Practices in Lease Renegotiations: Learning to Leverage,” February 2018

“Fundamentals of Corporate Real Estate – CoRE – Facility Management and Sustainability,” Real Estate Club, W.P. Carey School of Business, Arizona State University, January 2018

“A Junkyard Dog’s Perspective on Distressed Commercial Real Estate Today”

“Real Estate Due Diligence 101”

“Landlord’s Lease is How Many Pages? 101 Practice Tips for Negotiating a Tenant-Friendly Lease”

“Tenants in Trouble”

“Commercial Leasing”

“Negotiating Leases” and “Renegotiating Leases”

“The Emergency Economic Stabilization Act”

“Navigating Economic Headwinds”

“Exclusive Authorization for Sale or Lease of Real Property”

“Buyer/Lessee Agency Agreement”

“Saving Luke Air Force Base through Land Exchanges”

“The Circle K Bankruptcy Experience: Coming Full Circle From Ashes to IPO”

Publications

State by State Guide to Construction and Design Law (Author, Arizona Supplement), American Bar Association, April 2009

Community Leadership

ATHENA Award Finalist, Phoenix Chamber of Commerce, 1997

Education

Loyola University Chicago School of Law, J.D., cum laude, 1978

Indiana University, B.A., with honors, 1974