GrowGeneration Opens 10,000 Sq. Ft. Nevada Retail Distribution Center, Continues its West Region Expansion Plan

NEVADA: GrowGeneration, one of the largest specialty retail hydroponic and organic gardening store chains, selling to both the commercial and home cannabis markets, with currently 10 locations in Colorado and 1 location in California, today announced that it has signed a 5-year lease on a 10,000 square foot facility in Las Vegas, Nevada for its 12th store. The Las Vegas location will serve as retail and warehouse location, and will service the growing number of both commercial and home growers in the Nevada market.

GrowGeneration Continues Aggressive Geographic Expansion

Nevada presents significant growth opportu­nities for GrowGen in the legal cannabis market. The potential is attributed to the state’s rank as a top tourism desti­nation, generous patient reciprocity laws, and the allowance for medical cannabis businesses to be formed as for-profit enterprises. Recreational use sales are expected to begin in 2017, and grow quickly. According to New Frontier, the combined medical and recreational use sales in Nevada are expected to reach nearly $622 million by 2020. A major key to the industry’s growth will be the demand from the state’s strong tourism market, with an estimated 55 million visitors in 2016 alone.

GrowGen CEO Comments

Commenting on GrowGen’s expansion into NevadaDarren Lampert, Co-Founder and CEO, said, “The passage of Nevada’srecreational use legalization measure opens up the market for cultivation expansion like we have not seen before in the US. With this additional 10,000 sq. ft. of retail and warehouse space, conveniently located minutes from the Las Vegas strip, we believe we are to be the largest hydroponic store in the Nevada market. To best serve Nevada growers, we’ll stock both commercial and home-grow sizes of all the equipment and growing supplies offered throughout the market today.”

“Executing and opening our GrowGen Nevada retail and warehouse operation furthers our business plan to aggressively expand our business. With the recent recreational legalization in NevadaCaliforniaMassachusetts and Maine, and medical legalization in Florida, we consider those states as our key expansion markets. GrowGen is now operating at an annualized revenue run rate of over $9.0 million. We believe we’re well positioned to continue to execute our expansion growth strategy, in order to offer a one-stop, personalized shopping solution for both the commercial and home grower alike.”