Innovative Industrial Properties, a San Diego real estate investment trust (REIT) serving the medical marijuana industry, is spending up to $25 million to acquire and a lease out a property in Illinois that is slated to be used as an MMJ cultivation and processing facility.
Innovative Industrial Properties, which trades on the New York Stock Exchange as IIPR, bought the 10-acre property in Barry, a small town in western Illinois, for $19 million, according to a news release.
The REIT also
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