Innovative Industrial Properties Signs New Sale-Leaseback Deal for Pennsylvania Complex

Innovative Industrial Properties (NYSE: IIPR) has entered into the latest in its long series of sale-leaseback deals. The real estate investment trust (REIT) that specializes in properties for the marijuana industry announced Wednesday it has made such an arrangement to buy a complex in New Castle, Pennsylvania, from privately held Holistic Industries.

Innovative is paying $8.9 million, excluding transaction costs, for a complex that covers 7.4 acres of property, on which sits roughly 108,000 square feet of industrial space.

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Source Fool.com