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The store is opening within what used to be a bank branch.
A New York-based cannabis chain opened its first dispensary in Boca Raton last week.
Curaleaf Holdings (OTC Markets: CURLF) debuted its 2,280-square-foot facility at 19631 State Road 7 on Feb. 17. The dispensary, which also has a drive-thru, will employ more than a dozen associates who will handle customer orders, education on cannabis products, inventory, compliance for state regulations and cashier duties, Curaleaf regional VP Steven Delich said.
The publicly traded corporation has 148 locations nationwide, with 58 across Florida, including six in Miami-Dade County, one in Hallandale Beach, and one in West Palm Beach.
Florida’s cannabis industry has prospered since the onset of the Covid-19 pandemic. Medical marijuana sales increased 22% to $1.5 billion in 2021, according to cannabis industry website Leafy.
As of September 2022, Curaleaf reported having $198 million in cash on its balance sheet and $599 million in debt. Curaleaf also stated that it earned $339.73 million in revenue in the third quarter, a 7% increase from the previous quarter.
While Curaleaf is expanding in Florida, it is shutting down some of its operations in Oregon, Colorado and California due in part to what CEO Matt Darin called “a lack of meaningful enforcement of the illicit market.”
Curaleaf is leasing the former BB&T bank branch from 4227 Property LLC, managed by Gregory Roth and Severino Rodriguez. The LLC acquired the 35-year-old building from Truist Bank for $1.4 million in October.
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Curaleaf opens first Boca Raton dispensary – South Florida Business Journal – The Business Journals
