Innovative Industrial (NYSE: IIPR) hit by $1.6M default on key Florida leases
Innovative Industrial Properties (IIPR) announced a default by its tenant, Parallel (affiliates of SH Parent, Inc.), on $1.6 million in July rent and related charges for two Florida properties. These properties represent a significant portion of IIPR's annualized contractual rent (5.2% to 5.7%). Parallel …