Pot-Focused REIT Seals $12.4M NJ Deal With Columbia Care

Law360 (July 20, 2020, 10:57 PM EDT) -- Cannabis-focused real estate investment trust Innovative Industrial Properties Inc. announced Monday that it had closed two New Jersey property deals valued at $12.4 million and agreed to lease the locations to subsidiaries of pot giant Columbia Care.

The properties include a 50,000-square-foot industrial space and 4,000-square-foot dispensary location to be used for cultivation and retail, respectively, in the state's medical cannabis program, the publicly traded REIT said Monday.

"As one of the largest cannabis operators, Columbia Care is dedicated to providing the highest quality products and services to patients and customers, and we look forward to supporting them as a long-term...

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