The Leading Provider of Real Estate Capital for the Regulated Cannabis Industry

PEOPLE & PLACES

Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet, consetetur sadipscing elitr, sed diam nonumy eirmod tempor invidunt ut labore et dolore magna aliquyam erat, sed diam voluptua. At vero eos et accusam et justo duo dolores et ea rebum. Stet clita kasd gubergren, no sea takimata sanctus est Lorem ipsum dolor sit amet.

Our Portfolio

Our national portfolio is comprised of specialized real estate leased to state-licensed cannabis operators. These facilities are mission-critical for our operators and well located in states with established regulatory environments.

AT A GLANCE

$ 1 B

Total Invested Capital

Number of Properties

Total Square Feet

Number of States

Number of Tenants (1)

Data as of 6/30/25

(1) Each “Tenant” represents the parent company of the tenant, for which the parent company has provided a corporate guaranty. A parent company may have multiple tenant subsidiaries across IIP’s properties.

Select Properties

Green Thumb Industries

Toledo, Ohio

98,000

Rentable Square Feet

Cultivation and Processing

Use

Select Properties

Curaleaf

Chambersburg, Pennsylvania

179,000

Rentable Square Feet

Cultivation, Processing, Manufacturing and Distribution

Use

Select Properties

Ascend Wellness Holdings

Barry, Illinois

166,000

Rentable Square Feet

Cultivation, Processing, and Manufacturing

Use

Select Properties

Vireo Health

Perth, New York

389,000

Rentable Square Feet

Cultivation, Processing and Manufacturing

Use

Toledo, Ohio

Chambersburg, Pennsylvania

Barry, Illinois

Perth, New York

Our Business

Innovative Industrial Properties is the pioneering real estate investment trust for the regulated cannabis industry. Founded in December, 2016, we are the first publicly traded company on the New York Stock Exchange (NYSE: IIPR) to provide real estate capital to the regulated cannabis industry.

Our Sale Leaseback Program

Innovative Industrial Properties acquires freestanding industrial and retail properties leased to state-licensed cannabis operators under long-term, absolute net lease agreements. Under our sale-leaseback program, we focus on well-capitalized companies that have successfully gone through the rigorous state licensing process and have been granted a license in the state where the property is located.