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Innovative Industrial Properties in $41.8 Million Deal for New Pennsylvania Site

·2 min read
Innovative Industrial Properties in $41.8 Million Deal for New Pennsylvania Site
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Innovative Industrial Properties (NYSE: IIPR), ever on the hunt for suitable properties to add to its portfolio, has found another one in Pennsylvania. The specialty marijuana real estate investment trust (REIT) announced Friday it has closed a deal for a site in Pittsburgh. As is its habit, Innovative has entered into a triple-net, sale-leaseback deal for the facility with the Parallel unit.