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Innovative Industrial Properties, Inc. (IIPR) Expands Real Estate Partnership with Jushi Holdings Inc.

Innovative Industrial Properties Expands Real Estate Partnership with Jushi Holdings Inc. Subsidiary at Pennsylvania Grower-Processor Facility
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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 Faci ....

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Jushi Holdings Commences $40 Million Pennsylvania Facility Expansion

April 1, 2021 at 2:34 pm
Published by NCV Newswire
Jushi Holdings Inc. Announces Update on Expansion Project at Pennsylvania Grower-Processor Facility
The Company Commences First Phase of Expansion, Adding at Completion 40,000 sq. ft. to the Existing 89,000 sq. ft. Facility
Strengthens Partnership with Innovative Industrial Properties, Inc. Making Available an Additional $30.0 Million in Real Estate Funding
BOCA RATON, Fla., April 01, 2021 (GLOBE NEWSWIRE) Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced the first phase of its previously announced expansion project (the “Expansion Project”) at its Pennsylvania cultivation facility (the “Facility”) located in Scranton, PA. The Company’s wholly-owned subsidiary, Pennsylvania Medical Solutions, LLC (“PAMS”), has entered into an amendment of its existing lease with Innovative Industrial Pr ....

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