REAL ESTATE

Las Vegas mega-dispensary to open store in California

BY Al Urbanski

It was a logical leap.

Larry Scheffler and Bob Groesbeck, who opened the 40,000-sq.-ft. Planet 13 cannabis dispensary in Las Vegas last year, have announced plans to open a similar facility in California.

They have acquired a sales license and lease for a dispensary in Santa Ana from Newtonian Principles for $6 million plus shares in Planet 14 holdings valued at $4 million.

“After a thorough and deliberate search, we identified this excellent site located three miles from the South Coast Plaza Mall, which hosts 24 million visitors a year and is just a short 10-minute drive from Disneyland, with 18 million visitors per year,” Scheffler said.

The Las Vegas location, which by law cannot reside within the gaming corridors, claims to have captured 9% of cannabis sales in the city since opening in November. The retailing portion of Planet 13 encompasses 16,500 sq. ft. and is fitted with some 40 registers.

“There are approximately 1.5 million people that fly from the Los Angeles basin to Las Vegas every year, with many more making the short four-hour drive. This is a natural brand extension for us,” said Groesbeck, who added that he expects the Santa Ana location to become one of the largest cannabis dispensaries in the world.

Connect with me on LinkedIn | Follow me on Twitter

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Do you expect your business to be challenged by the ongoing escalation of the the heightened U.S.-China trade dispute?