Innovative Industrial Properties Signs New Sale-Leaseback Deal for Pennsylvania Complex | The Motley Fool

  • 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.
  • It then turned around and signed the sale-leaseback arrangement with Holistic.
  • Sale-leaseback transactions — in which a property’s owner sells their real estate, then leases it from the buyer — are now common in the cannabis industry.

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