Fluresh LLC plans to open the first licensed medical marijuana provisioning center in Grand Rapids on Feb. 7 in the former Benteler Automotive plant on the city’s southwest side.
Founded by Thornapple River Capital LLC principals Brandon Kanitz and Genesis Guanga, Fluresh expects to invest nearly $27 million to transform the 200,000-square-foot building at 1213 Phillips Ave. SW into a provisioning center, as well as a processing operation and Class C marijuana grow facility.
The plans are coming together after the company in November completed a $9.9 million property transaction with TC 320 Hall LLC, a subsidiary of Grand Rapids-based Third Coast Development LLC.
“When Michigan passed the new (Medical Marijuana Facilities Licensing Act) and opened up medical marijuana, we decided to do what we had done in other states, but rather than investing in somebody else’s business, we decided to create our own company,” Kanitz told MiBiz. “We recruited a management team that had significant experience in both operating companies and consumer product experience.”
Steele OZ LLC purchased the property and will lease it to Fluresh. Fluresh and Steele OZ share many of the same investors, Kanitz told MiBiz. Most of the capital for Fluresh was raised through Steele Partners LLC, an entity that invested in Steele OZ and is managed by Thornapple River Capital.
To read the rest of this story, click on https://mibiz.com/sections/real-estate-development/fluresh-plans-feb-7-opening-for-first-gr-medical-marijuana-provisioning-center