PORTLAND, Ore., April 27, 2017 /PRNewswire/ -- Nectar Holdings, Inc. ("Nectar") the vertically integrated, market-share leading, Oregon cannabis entity, is opening its eighth retail location in the Burlingame neighborhood of Portland, Oregon. This is Nectar's eighth Oregon Liquor Control Commission ("OLCC") dispensary participating in full recreational and medical sales. The company operates eight OLCC licensed dispensaries, five OLCC licensed cultivation centers and three OLCC licensed wholesale and distribution licenses.
The 2,800 square foot facility is located at 8601 SW Terwilliger Blvd, in the heart of Burlingame, a very desirable and upscale neighborhood with excellent proximity to major freeways and arteries.
"We are pleased to be expanding our foot print in the city of Portland. Portland houses more than 2.5 million residents of the 4.4 million residents of Oregon," said Nectar COO Devra Karlebach. "Continuing to build out our presence in Oregon's highly populated neighborhoods and cities is something we believe will further compliment Nectar's expansion plans. 11.6% of Burlingame residents work from home which represents a higher percentage of people working from home than 95.8% of the neighborhoods in America. Burlingame is uniquely immersed with more urban sophisticates than 95.9% of neighborhoods across the country. Burlingame residents are executives and managers by week and serial patrons of the arts, shops and restaurants at night and on weekends with above average disposable incomes. This neighborhood has a higher income than 80.4% of the neighborhoods in America.
The Burlingame location is the fifth Adult-Use Dispensary with allowable Medical Sales Nectar has opened inside of the Portland metropolitan area where it already has four popular dispensaries strategically placed throughout the city. Eugene, Gresham and Tillamook are home to Nectar's other three retail outlets. The newest Nectar location will offer the company's premium Applegate Valley Organics cannabis, waxes and oils, among other high-quality cannabis products from the top producers in the state. Nectar is also one of two dispensary chains in Oregon selected to launch the Marley Naturals brand.
Nectar continues to identify efficiencies in the Oregon market and has worked diligently to secure smart locations and exponential growth potential. Nectar is equally focused on streamlining operations. The Company remains committed to its model of lowest cost production of highest quality products based on economies of scale and the Company's competitive advantages. Management expects general and administrative costs to decline by more than 30% from Q2 2015 to Q2 2017 as the company significantly reduces expenses, while revenue continues to increase.
"We remain confident that Nectar represents the leading Cannabis model not only in Oregon, but also in North America. We believe that continued growth in Oregon, refinements in general and administrative costs, and our strategic relationships will help accelerate the economic growth".
About Nectar Holdings, Inc.
Nectar Holdings, Inc. is an Oregon market-share leading cannabis entity that operates eight dispensaries through its Nectar Markets, LLC subsidiary and seven cultivation facilities through its Applegate Valley Organics, LLC subsidiary throughout the state. Nectar prides itself on providing a phenomenal customer experience, professional staff, great selection of quality products and on being a great corporate citizen and neighbor in the community.
To be added to the Nectar email distribution list, please email Info@nectarpdx.com with Nectar Markets in the subject line.
For more information about Nectar visit: http://www.nectarpdx.com/
Nectar Holdings, Inc.
Devra Karlebach, (917) 751-9500
Chief Operating Officer
SOURCE Nectar Holdings, Inc.