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Marijuana real estate trust investment innovative industrial properties acquired Maryland land for $25 million

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San Diego based innovative industrial real estate (IIP) acquired marijuana cultivation and processing facilities in Maryland for $25 million. The publicly traded REIT said in a press release that it had signed a long-term agreement to lease 84000 square feet of facilities back to a Maryland planting and processing subsidiary. As of April 13, 2022, IIP owned 108 marijuana properties in 19 states, with a total of 8.1 million square feet of rentable area.


Source: mjbizdaily com/