Stem Holdings Inc. Receives Final Construction Permit in preparation of the Grand Opening of TJ’s on Powell, a Portland Dispensary.
BOCA RATON, September 4, 2018 - Stem Holdings Inc. (OTCQB: STMH CSE: STEM), (the “Company” or “Stem”) a publicly traded real estate company specializing in acquiring and improving properties for the cannabis industry, has received final approvals from the authorities necessary to complete construction for its newest dispensary location in Portland, Oregon.
The new dispensary is a 1,300 square foot building ideally situated right on a busy commuting corridor. Work will begin immediately, and the renovation will include, structural improvements, modern interior design, exterior landscaping and improved ADA access. An advanced security system will be installed to ensure the safety of customers, employees, and products.
Upon the completion of construction (anticipated to be finished in approximately two months), Stem will lease the location to award-winning cannabis operator TJ’s Gardens and the dispensary will hold the name of “TJ’s on Powell”. TJ’s Gardens currently operates two other reputable licensed cannabis dispensaries in the city of Eugene, Oregon. “Both TJ’s on Willamette and TJ’s Provisions are known for offering a welcoming environment and providing the best customer experience whether you’re a first-time customer or knowledgeable cannabis consumer,” says TJ’s Gardens’ co-founder, Travis MacKenzie. “We are excited to bring our dispensary concept to Portland,” exclaimed James Orpeza, co-founder of TJ’s Gardens.
In light of legalization in 2015 combined with the exponential increase in population in Oregon (specifically, in Portland), Oregon’s cannabis market has also experienced significant growth in recent years, but particularly in this past calendar year. Per the Oregon’s Department of Revenue, for the month of July 2018, the state collected $8.57 million in sales tax. This total amount represents a 66% increase in state tax revenue compared to July 2017.
“We are excited to be launching a destination dispensary in the city of Portland,” says Stem’s CEO Adam Berk. “This retail location will help position our partners, TJ’s Gardens to better capture a much larger share of Oregon’s cannabis market and its consumers.”
TJ’s on Powell will also serve as a hub for community building and education as there are plans to host events to be held in a separate, dedicated event space area outside the dispensary. "Our ultimate mission is multi-faceted in that we strive to sell the highest-quality cannabis while being a dedicated and active participant of the community contributing to the overall well-being of each neighborhood we serve” says MacKenzie.
The address of the new dispensary is:
TJ’s on Powell
7827 SE Powell Blvd.
Portland, Oregon 97206