Innovative Industrial Properties acquires freestanding properties that are used for growing licensed medical-use cannabis and operated by state licensed growers. The properties are then leased back to the growers under long-term, net lease agreements. We target growers that have gone through the rigorous state licensing process and have been granted a license in the state where the property is located.
How does it work?
Our acquisition strategy is to act as a source of capital to these licensed medical-use cannabis growers by acquiring and leasing back their real estate locations. By selling the property and building to IIP, and then leasing it back from us, growers have the opportunity to redeploy the proceeds into their company’s core operation and yield a higher return than they would otherwise get from owning their own real estate.