Power reit creates efficiencies of scale with tenant expansion

Old bethpage, new york, feb. 23, 2021 (globe newswire) -- power reit (nyse-amex: pw and pw.pra) (“power reit” or the “trust”) today announced that it has entered into a lease amendment with the grail project llc (“grail project”) to fund the expansion of its existing property leased to grail project by 6,256 square feet. power reit's capital commitment related to the expansion is approximately $517,000 and the increase in annual straight-line rent is approximately $105,000. the property, which is strategically located in a part of southern colorado that offers a very favorable business setting and climate for greenhouse cultivation, is owned through a wholly owned subsidiary of power reit.
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