AP NEWS

Business in brief, April 2, 2019

April 2, 2019

N.M. medical marijuana dispensaries change hands

A Minneapolis company that owns medical marijuana dispensaries and growing fields in eight states has acquired Gallup-based Red Barn Growers, which owns two dispensaries in Santa Fe and Gallup.

The $4 million sale closed March 26. Vireo Health International acquired the for-profit company Silver Fox, which manages the cultivation and dispensary licenses held by the nonprofit Red Barn.

Vireo Health International expanded at the same time into New Mexico and Arizona. Vireo also has dispensaries in Maryland, Minnesota, New York, Ohio, Pennsylvania and Rhode Island.

“Both Arizona and New Mexico are marquee medical cannabis markets,” said Albe Zakes, a Vireo Health spokesman. “Both states have a large and growing number of patients that we hope to serve. The Southwest has long been an area we targeted for expansion.”

Red Barn Growers was established in 2010. Its Santa Fe shop is at 1089 St. Francis Drive.

New Mexico has 91 medical marijuana dispensaries and 70,109 active medical marijuana patients registered with the New Mexico Department of Health, with 8,031 registered users in Santa Fe County.

Dealership plans go before Planning Commission

The development plan for a new $8 million Fiesta Nissan and Fiesta Hyundai dealership on Cerrillos Road at Governor Miles Road will be considered at 6 p.m. Thursday by the Santa Fe Planning Commission.

Fiesta Nissan/Hyundai owner Jamie Dick plans to move his two dealerships from their current locations on St. Michael’s Drive and Espinacitas Street.

The new dealerships would sit on a shared site of 11.99 acres on vacant land at Cerrillos and Governor Miles, with a main vehicle entry to both dealerships from Cerrillos, according to documents filed with the city.

Dick intends to build the Nissan dealership first, with construction starting in June. The Hyundai dealership would be developed in spring 2020.

Taos retirement community expands assisted-living units

Taos Retirement Village already is expanding its assisted-living section that opened in January 2018.

The village is adding four assisted living units to the eight in place, and future expansions to the 12-unit assisted-living section are likely, said Alan Wilkins, director of sales and marketing.

“Those will be the only assisted-living units between Alamosa, Colorado, and Santa Fe,” Wilkins said.

The assisted-living section fills a wing of the main administration building that previously housed a 20-bed skilled nursing unit that was shut down in December 2017. Taos Retirement Village also has 66 independent-living units in apartments and casitas on the 5.45-acre campus.

“Our new units are large enough that couples can stay there,” Wilkins said.

Taos Retirement Village is owned by HealthCap of Dallas. The property has been self-managed since October 2017. The property previously was managed by Mosaic Management of Salem, Ore.

Small Business Summit set for Wednesday in Albuquerque

WeConnectNM, an economic development think tank, will stage its first Small Business Summit from 1:30 to 7 p.m. Wednesday at Las Puertas Event Center, 1512 First St. NW, in Albuquerque.

Panelists include Danika Padilla of Meow Wolf; New Mexico General Services Department Secretary Ken Ortiz; Scott Aeilts, associate labs director at Sandia National Laboratories Mission Services; city of Albuquerque Deputy Chief Administrative Officer Santiago Chavez; Steve Walsh, distinguished professor of management of technology and entrepreneurship studies at the University of New Mexico; Robin Brulé of Nusenda Credit Union; and Carter Cherry of Public Service Company of New Mexico.

The summit will focus on government investment and existing small business incentives, among other programs. Admission is $10.

The New Mexican