Cannabis company Cresco Labs closes $29 million sale-and-leaseback transaction on Massachusetts facility

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Cannabis company Cresco Labs CRLBF, +2.74% CL, +2.19% said Wednesday it has closed a sale-and-leaseback transaction for its Massachusetts facility with Innovative Industrial Properties Inc. (IIP). Cresco will receive $29 million for the sale of the facility, with $21 million earmarked for tenant improvements. The facility is about 118,000 square feet of industrial space, including cultivation space, a processing plant and dispensary serving medical and adult-use cannabis. .en.

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