A new Gage Cannabis Co. dispensary, built by Orion Construction on a major corridor in Kalamazoo, is scheduled to open on Dec. 17 – just as the Grand Rapids-based commercial contractor breaks ground on a second Gage property in Mt. Morris, northeast of Flint.
To make way for the new 4,000-square-foot Gage dispensary, located at 3825 Stadium Drive, Orion Construction razed two existing buildings at the location – a vacant house and deteriorating gas station – and began soil remediation in early July. Orion spent four months constructing the building, which included site preparation, a large retaining wall on the backside of the building pad, block walls with granite panels, storefront windows with a decorative veneer overhang to enclose the structure, along with additional curb street appeal and landscaping. Inside, the dispensary features a spacious lobby and waiting area with floor-to-ceiling storefront windows and entry door, a sales room, vault (walk-in safe), delivery room, managers/security office, storage rooms and two ADA restrooms.
“This location in Kalamazoo was left unattended and had become an eyesore on this heavily-traveled thoroughfare in the city,” said Orion Construction President Brad Walsh. “Under Gage’s vision, we transformed a neglected property into a modern, architecturally-crafted facility that will serve new and existing clients within the growing cannabis industry, and also support economic growth in Kalamazoo.”
The Kalamazoo dispensary is Orion Construction’s third construction project with Gage and will soon break ground on a facility in Mt. Morris, just north of Flint.
Based in Detroit, Gage Cannabis Co., (Gage Growth Corp.) is a leading cannabis brand and operator with 10 retail dispensaries in operation throughout the state, including Grand Rapids, Lansing, Traverse City, Bay City, Jackson, Ferndale, Adrian, and Burton. The new Stadium Drive facility is the company’s second location in Kalamazoo.
In November, the company reported a revenue of $27.2 million in the third quarter of 2021. This was a record third quarter for Gage, marking an increase of 119.6% year-over-year revenue growth and a 3.2% jump from the last quarter. Its gross profit of $9.9 million was up from $9 million in the second quarter of 2021. In addition to its existing retail dispensaries, Gage is in active discussions with multiple retail operators in Michigan to potentially acquire more than 10 retail locations in the coming months. The company closed on a senior secured term loan for $55 million, which plans to use to finance its retail acquisition strategy in Michigan to support future growth, as well as for working capital purposes.
“In the third quarter of 2021, Gage had a record performance across all financial and operating metrics,” said Gage CEO Fabian Monaco. “Overall, we will continue to execute on our growth strategy in the remaining months of 2021 and into 2022. With a strong balance sheet, we are well positioned to execute on our near-term acquisition opportunities that will fuel the overall growth of the company.”
Read more about Orion Construction’s projects with Gage Cannabis:
WKZO: Gage Cannabis Co. to open new Kalamazoo location on Stadium Drive
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