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Innovative Industrial Properties (NYSE: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 company will be fully reimbursing up to $18.8M to Holistic for the development of the property, making its total investment in the property of $25M.

Check out the scaling chart of IIPR over the last one month.

INTERESTED IN GETTING A CANNABIS BUSINESS LICENSE?

Call New Leaf Cannabis Licensing Specialists at...

1.888.791.5323

New Leaf Cannabis Licensing Specialists is a True One Stop Shop for the Cannabis Entrepreneur.

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