The former home of the Colfax Pot Shop, a longtime dispensary at 1500 East Colfax Avenue, is on the path toward becoming another dispensary.
Open for over twelve years, the Colfax Pot Shop did not announce its closure, but the doors have been locked and the windows covered over since this summer. According to Colorado Marijuana Enforcement Division records, the location's dispensary license was taken over by Cannabis Corp in July.
Cannabis Corp is a marijuana business group that also owns the Joint by Cannabis, a northwest Denver dispensary. Although the company did not respond to requests for comment, MED licensing records show that the recreational marijuana sales license for 1500 East Colfax is now registered to a business named the Joint by Cannabis. According to the Denver Department of Excise and Licenses, Cannabis Corp has a pending application for a transfer of ownership at 1500 East Colfax.
Colorado's pot industry is currently stuck in a year-plus recession, reaching record lows in wholesale prices and medical marijuana sales. During that downturn, marijuana businesses have closed and laid off employees, but the market decline hasn't slowed down larger companies and multi-state operators from acquisitions.
The amount of money connected to Colorado marijuana business takeovers in 2022 surpassed last year's total by September, according to an industry report in Marijuana Business Daily, reaching over $600 million — and that's not counting several big acquisitions of dispensary chains that took place after the report, including Euflora, the Green Solution, Medicine Man and more.
The Colfax Pot Shop had been operating at 1500 East Colfax Avenue since 2010.
Thomas Mitchell
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