Ultra Health, largest marijuana player in New Mexico, closing Santa Fe shop

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New Mexico’s largest medical and adult-use marijuana operator, Ultra Health, will close one of its two Santa Fe stores at the end of February.

The Cerrillos Road store was more expensive to operate than Ultra’s other stores, President and CEO Duke Rodriguez told the Santa Fe New Mexican newspaper.

“That location was the most expensive monthly rent at $8,000 in our entire system and the lowest revenue producer in our entire system,” he added.

Ultra Health will continue running its other Santa Fe store on St. Michael’s Drive.

After the Cerrillos Road outlet closes, Ultra Health will have 37 stores operating in New Mexico.

Adult-use and medical cannabis sales in New Mexico totaled more than $46 million in January.

The state’s monthly record, $48 million, was set in August 2023.