Innovative Industrial Properties, Inc. (IIPR) Company Bio
Innovative Industrial Properties, Inc. owns and leases specialized industrial real estate assets. The Company focuses on the acquisition, disposition, construction, development, and management of industrial facilities leased to tenants in the regulated medical-use cannabis industry. Innovative Industrial Properties conducts its business in the United States.
Innovative Industrial Properties Inc. (NYSE: IIPR ) bought a property in Lakeland, Florida, for roughly $19.6 million, excluding transaction costs. The San Deigo-based REIT confirmed Monday , it has taken over a property from Parallel's associate, which remained undisclosed. In addition, IIP disclosed it's a privately-held cannabis company operating across several states. Simultaneously, with the acquisition's finalization, IIP entered into a long-term, triple-net lease agreement for the property with Parallel's subsidiary. The property, which spans around 65,000 square feet, would be … Full story available on Benzinga.com
Innovative Industrial Properties, Inc. (NYSE: IIPR ) has finalized the acquisition of a property in Michigan. The SanDiego cannabis REIT purchased the property — located at 29600 Stephenson Highway, north of Detroit — for $6.2 million, excluding transaction costs. Simultaneously, IIP closed a long-term, triple-net lease deal with Holistic Industries Inc.'s subsidiary for the property. Holistic opted to manage the property utilizing it for cannabis cultivation, processing, and dispensing, once the development of a roughly 63,000 square-foot industrial building is completed. IIP agreed to fund … Full story available on Benzinga.com
Innovative Industrial Properties (IIPR) acquires property in Madison Heights, Michigan for $6.2M.The company also entered into a long-term, triple-net lease agreement with a subsidiary of Holistic Industries.Holistic intends to operate the property as a regulated cannabis cultivation, processing and dispensing facility, upon completion of development of an approximately 63,000 square foot industrial building.The...
Innovative Industrial Properties is on a marijuana shopping spree, having spent $100 million since April to buy cultivation and distribution facilities around the nation while providing cannabis operators with sorely needed cash.