Innovative Industrial Properties Acquires Florida Property and Enters Into Long-Term Lease with Parallel, a U.S. Cannabis Company
Innovative Industrial Properties, Inc. (IIPR)
US:NYSE Investor Relations:
investors.innovativeindustrialproperties.com
Company Research
Source: Business Wire
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Wimauma, Florida, which comprises approximately 373,000 square feet of industrial and greenhouse space, from an affiliate of Parallel, a leading multi-state cannabis company with operations in Florida, Massachusetts, Nevada and Texas. Parallel is the corporate parent company to Surterra Wellness, a market leader and one of the original licensed vertical operators in Florida, with a rapidly growing footprint that includes 39 retail dispensaries across the state and multiple industrial-scale cultivation, production and research facilities.The purchase price for the property was $35.3 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease ag
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IIPR
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- 5/8/24 - Miss
IIPR
Sec Filings
- 5/9/24 - Form 10-Q
- 5/9/24 - Form 8-K
- 5/3/24 - Form DEFA14A
- IIPR's page on the SEC website