Major cannabis growth chain opening store in Boulder

BOULDER — GrowGeneration Corp. (OTC: GRWG), a major specialty cannabis store chain, has signed a two-year lease in Boulder.

The Denver company has nine locations in Colorado, two in California, one in Washington and one in Las Vegas. GrowGeneration sells equipment such as ventilation, soils, nutrients, grow lights and hydroponic equipment, all for commercial and home cannabis growth.

The store in Boulder will be the third in the Denver metro market, according to a news release filed with the U.S. Securities and Exchange Commission. The Boulder location will serve as both retail and warehouse.

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GrowGeneration is leasing 2,000 square feet of space at 1001 Lee Hill Drive, Unit 2, from Emerald Investments Two Ltd., according to the filing.

“Adding our 3rd store in the Denver/Boulder metro market solidifies GrowGen’s position as a significant supplier to the commercial cultivators in the Colorado market,” said Darren Lampert, co-founder and CEO, in a statement. “Our new Boulder location was selected due to the over 50 commercial growers within the same zip code of our store location. We believe the Boulder store will generate over $1,000,000 within its first 12 months of operations.”

Additionally, the company said it plans to consolidate its Castle Rock store with its Denver South store.

GrowGeneration is the third-highest revenue-producing company in the cannabis market, with $4.1 million as of the end of the second quarter this year. The company is behind Terra Tech, with $6 million in sales and Kush Bottles, with $4.7 million. It’s also the fastest-growing company in its field, with 116 percent year-over-year growth for the second quarter.