Multistate marijuana operator Green Thumb Industries on Monday announced it has sold an Illinois cultivation and processing facility to San Diego-based Innovative Industrial Properties in a sale-leaseback deal valued up to $50 million.

IIP paid $9 million for the property in Oglesby, Illinois, and plans to make up to $41 million in upgrades to the property.

 

Green Thumb inks $50 million cannabis sale-leaseback deal in Illinois