IRVINE, Calif., Oct. 12, 2018 (GLOBE NEWSWIRE) — Terra Tech Corp. (OTCQX: TRTC), (“Terra Tech” or the “Company”) a vertically integrated cannabis-focused agriculture company, today announced it has purchased a retail property in downtown Las Vegas, located at 121 North Fourth Street. The Company plans to convert the building into a Blüm™ retail dispensary, focused on providing the highest quality medical and adult use cannabis to the Nevada market.
The 4,541+ square feet retail building rests on a single 0.16 acre land parcel on North 4th Street, just 100 feet from the world famous Fremont Street Experience, which attracts more than 14 million annual visitors. Positioned in the heart of the booming Downtown Las Vegas trade area, the property has always provided very solid ground for its retail tenants.
Terra Tech currently operates three other Blüm stores in Nevada, two of which are in Las Vegas, and all of which are focused on providing the highest level of personal care coupled with a broad selection of medical and adult use cannabis products, including flowers, concentrates and edibles. Its proprietary Blüm retail brand first entered Nevada in April 2016, and now enjoys significant brand recognition among its loyal customer base. Capitalizing on the Blüm brand by expanding into Downtown Las Vegas will expand the Company’s Nevada footprint and is expected to bolster its reputation as a leading retail dispensary operator in one of the U.S.’s largest cannabis markets. The Company has submitted two retail permit applications to the State and plans to announce the result of these applications as soon as possible.
Derek Peterson, CEO of Terra Tech, stated, “We remain committed to growing our footprint in Nevada, which remains a lucrative market for the cannabis sector. The building is located in the heart of the booming Downtown Las Vegas trade