Innovative Industrial Properties, Inc. (NYSE:IIPR) entered into a sale-leaseback agreement to acquire Cheyenne Avenue in Las Vegas from MJardin Group, Inc. (CNSX:MJAR) for $9.6 million on July 12, 2019. The proceeds from the sale includes $5.8 million in future tenant inducement payments and construction funding for the facility.

Innovative Industrial Properties, Inc. (NYSE:IIPR) completed the acquisition of Cheyenne Avenue in Las Vegas from MJardin Group, Inc. (CNSX:MJAR) on July 12, 2019.