Innovative Industrial Properties Inc (IIP) announced that it has acquired Massachusetts Property and Expands Real Estate Partnership with Cresco Labs. At the same time, the closing IIP joined a long-term triple-net lease agreement for the property owned by Cresco Labs. The Massachusetts Cannabis Sale-Leaseback will as regulated cannabis cultivation, processing, and dispensing facility after redevelopment. IIP’s total investment in the property with Cresco Labs will be approximately $28.8 million.
– New Cannabis Ventures, Published Ncv Newswire, 07/01/2020 7:48:00 AM