Cannabis REIT Expands In Pennsylvania By Acquiring Property In Pittsburgh

Innovative Industrial Properties Inc (NYSE: IIPR), one of the largest real estate investment trusts catering to the U.S. cannabis industry, acquired a 51,000 square foot property in Pittsburgh, Pennsylvania for which it already signed a long-term lease agreement.

What Happened

The purchase price for the industrial property is $6.3 million excluding transaction costs. The company also entered into a long-term, triple-net lease agreement with Maitri Genetics that will operate the property as …

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