Marijuana Investor Secures $13M Real Estate Deal in Michigan

Marijuana Investor Secures $13M Real Estate Deal in Michigan

Innovative Industrial Properties has committed to deal with Green Peak Innovations at Harvest Park.

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August 10, 2018
lansingstatejournal.com
State by State: Michigan

WINDSOR TOWNSHIP -- A California real estate company traded on the New York Stock Exchange wants a piece of the township's commercial medical marijuana growing and processing action. 

Innovative Industrial Properties has committed to a $13 million deal with Green Peak Innovations at Harvest Park, billed as the largest marijuana business park of its kind east of the Mississippi. 

RELATED: Michigan Approves Medical Marijuana Testing Labs

Green Peak, a company with Lansing area investors, has agreed to sell a 56,000-square-foot-facility it constructed and 25 acres of land it purchased at Harvest Park to IIP for $13 million.

Green Peak will lease the land from IIP so it can move forward with its marijuana growing and processing plans, said Jeff Radway, Green Peak's CEO. 

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