(2)
(3)
The amount relates to a new lease executed at IIP’s Los Angeles, California property, which provides for a tenant improvement allowance of up to $11.0 million.
(4)
The tenant is expected to complete tenant improvements at the property, for which IIP agreed to provide reimbursement of up to approximately $10.8 million.
(5)
The amounts relate to the acquisition of additional land adjacent to an existing property and a lease amendment which provided a tenant improvement allowance and resulted in a corresponding adjustment to the base rent for the lease at the property. The tenant is expected to complete construction of two new buildings at the property comprising approximately 180,000 square feet in the aggregate, for which IIP agreed to provide reimbursement of up to approximately $51.4 million.
4Front Announces Fourth Quarter and Fiscal Year 2020 Results and Provides Business Update
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
4Front Announces Fourth Quarter and Fiscal Year 2020 Results and Provides Business Update
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Innovative Industrial Properties Expands Real Estate Partnership with Jushi Holdings Inc. Subsidiary at Pennsylvania Grower-Processor Facility
Â
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it entered into an amendment of the lease with a subsidiary of Jushi Holdings Inc. (Jushi) (CSE: JUSH; OTCMKTS: JUSHF) at its Scranton, Pennsylvania grower-processor facility (the Facility), making available an additional $30.0 million in funding for the completion of the buildout of the existing 89,000 square foot building and approximately 40,000 square foot expansion of the Facility, and adjusted the base rent under the lease to take into account the additional available funding. Assuming full payment of the additional funding and completion of the expansion, IIPâs total investment in the approximate 129,000 square foot Facility will