Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Promotion of Andy Bui to Principal Accounting Officer

On January 6, 2021, the Board of Directors of Innovative Industrial Properties, Inc. (the "Company") promoted Andy Bui to serve as Vice President, Chief Accounting Officer and principal accounting officer of the Company. Catherine Hastings, the Company's current principal accounting officer, ceased to serve in the capacity of principal accounting officer upon the effectiveness of Mr. Bui's appointment as principal accounting officer, but shall continue to serve the Company in the capacity of Chief Financial Officer and Treasurer.

Mr. Bui, age 39, served as Controller at the Company since May 2017. Until April 2017, Mr. Bui served as senior director of financial reporting at BioMed Realty Trust, Inc. (formerly NYSE: BMR), a REIT specializing in acquiring, leasing, developing and managing laboratory and office space for the life science industry, having joined BioMed Realty in 2013. Prior to BioMed Realty, he served as senior manager of financial reporting at Leap Wireless International, Inc. (formerly NASDAQ: LEAP), a wireless communication carrier, from 2012 to 2013 and as manager at PricewaterhouseCoopers LLP from 2010 to 2012. Mr. Bui received his Bachelor of Science in Accounting from the University of Southern California and is a Certified Public Accountant.

There are no family relationships between Mr. Bui and any director or executive officer of the Company, and no transactions involving Mr. Bui that would require disclosure under Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits




Exhibit
Number    Description of Exhibit

          Cover Page Interactive Data File (embedded within the Inline XBRL
104       document).

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