Innovative Industrial (IIPR) Expands With Florida Asset

Innovative Industrial Properties (IIPR) recently announced that it has closed the acquisition of a Florida property for $13.0 million. The company acquired the property to enhance its portfolio and bank on healthy market fundamentals. This 16-acre property comprises 145,000 square feet of industrial space in Ocala. AYR plans to redevelop a building on the property into a regulated cannabis cultivation facility encompassing 98,000 square feet of industrial space. IIPR has agreed to reimburse up to$30.0 mill ...