Marijuana Stock Innovative Industrial Properties Strikes Deal With Green Thumb Industries
The legalization of marijuana is likely to be one of the most important -- and lucrative -- growth stories of the coming decade. Legalization has ignited a boom in cannabis production in Canada, the U.S., and other areas of the world. It's also boosting demand for real estate upon which the potent plant can be grown.
Innovative Industrial Properties (NYSE: IIPR) was formed as a real estate investment trust (REIT) to purchase these facilities, lease them to licensed growers, and pay out the profits to its shareholders via dividends. It's a powerful wealth-building formula -- one that's delivered returns of more than 300% to IIP's investors since the company's December 2017 initial public offering.
IIP has steadily expanded its real estate portfolio since that time. It now owns more than 40 properties in 13 states spanning 2.9 million square feet of industrial space.
Source Fool.com
