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Innovative Industrial commits $22 million to greenhouse aquisition

Austin Real Estate News

Smart Austin Concierge

June 22, 2022

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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

Events, Stuff to do

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"Dalle 3 Prompt: Visualize a groundbreaking oasis in the heart of Central Texas: 'Ascensions on Lake Travis' - a vibrant illustration capturing the essence of Austin's first public access lagoons project. Picture a sprawling, 3-acre crystalline lagoon, its waters shimmering under the Texas sun. Envision families, friends, and water sports enthusiasts basking in the joy of this aquatic paradise. Surrounding the lagoon, imagine luxury residences, bustling retail boutiques, and diverse dining options, all nestled in the lush, green landscapes of Spicewood. Highlight the spirit of innovation and sustainability that defines Austin, with a backdrop of rolling hills meeting modern luxury and eco-friendly living. This image should encapsulate the excitement of beach life coming to Austin, blending perfectly with the city's unique culture and vibrant community life."
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