On March 16, 2026, Innovative Industrial Properties reported a portfolio update including leases for 122,000 square feet in Illinois and California and a settlement with PharmaCann to resolve rent defaults for properties in New York, Ohio, and Pennsylvania. PharmaCann will vacate the properties by May 20 and May 26, 2026, and defaulted tenants Cannabist and Battle Green owe approximately $0.6 million and $0.8 million respectively for March 2026 rent.