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Rentable Space
Measures the total square footage available for leasing, indicating potential revenue growth and capacity to expand tenant relationships.Rentable square footage expanded steadily through 2024 as IIPR deployed capital and closed acquisitions, hit a late‑2024 peak, then dipped and flattened into 2025–Q1 2026—reflecting active churn from legacy tenant defaults and a retenanting cycle. Management’s recent leasing wins (Gold Flora now leased, tentative 4Front deals) explain the stabilization, but delayed lease starts, free‑rent concessions and higher funding costs mean occupancy gains may lag cashflow and thin near‑term yield spread despite improving portfolio health.
Date | Rentable Space |
|---|---|
Jun 30, 2026 | 8.40M |
Mar 31, 2026 | 8.90M |
Dec 31, 2025 | 8.90M |
Sep 30, 2025 | 9.00M |
Jun 30, 2025 | 8.97M |
Mar 31, 2025 | 8.55M |
Dec 31, 2024 | 9.00M |
Sep 30, 2024 | 8.51M |
Jun 30, 2024 | 8.31M |
Mar 31, 2024 | 8.17M |