Innovative Industrial Properties Inc (NYSE: IIPR) is a real estate investment trust that acquires, owns, and leases specialized industrial properties to licensed cannabis operators in the United States. The company makes money through long-term, triple-net lease agreements under which tenants pay base rent plus property-level operating costs including taxes, insurance, and maintenance. The filing excerpts provided do not contain sufficient detail to characterize portfolio size, tenant count, revenue figures, geographic footprint, competitive position, or leadership as of the fiscal year ended in the 10-K filed 2026-02-24 (accession 000167757626000001). No specific financial metrics, property counts, or segment data are available from the excerpts supplied. Additional detail from the full filing would be required to support further factual description of IIPR's operations, capital structure, or market position.

Revenue model

Triple-net lease rental income from licensed cannabis operators occupying industrial properties owned by IIPR. Details on lease terms, average rent, or revenue totals are not supported by the provided excerpts.

Products and services

Ownership and long-term triple-net leasing of industrial real estate properties to state-licensed cannabis operators.

Customers and end markets

Licensed cannabis operators in the United States. Specific tenant names, customer concentration data, or tenant counts are not supported by the provided excerpts.

Value-chain role

Real estate capital provider and landlord to the regulated cannabis industry.

Geographic exposure

United States. Specific state-level or property-level geographic data are not supported by the provided excerpts.

Source: SEC 10-K, filed 2026-02-24

Industry: Real Estate Peers: Prologis Inc Eastgroup Properties Inc First Industrial Realty Trust Inc INDUS REALTY TRUST, INC. Industrial Logistics Properties Trust LXP Industrial Trust Plymouth Industrial REIT, Inc. STAG Industrial Inc Terreno Realty Corp