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Innovative Industrial commits $22 million to greenhouse aquisition

Austin Real Estate News

June 22, 2022

BASTROP – Cannabis company Texas Original Holdings LLC has sold its new headquarters facility in Bastrop in a sale-leaseback arrangement.

Innovative Industrial Properties Inc. acquired the property for $12 million.

The 85,0000-sf industrial and hybrid greenhouse facility is currently under construction and will be completed in early 2023. Innovative Industrial is committing $10 million toward completion of the facility.

The complex comprises multiple buildings for cultivation, distribution, delivery, and logistics.​​

Source

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