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 it signed a long-term lease with Holistic Industries Inc. (Holistic) for its property located in Los Angeles, California. As previously reported, Holistic entered into a definitive agreement to acquire the retail, distribution, cultivation, and manufacturing licenses for cannabis operations from the tenant at IIP’s Los Angeles, California property, which was in receivership. Holistic closed on this transaction and concurrent with this closing executed a long-term, triple-net lease with IIP for the entire property.
Mmp News Author, Medical Marijuana Program Connection, 01/08/2021 08:55:00