8-K

UNITED STATES

SECURITIES ANDEXCHANGE COMMISSION

WASHINGTON,D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant toSection 13 or 15(d)

of the SecuritiesExchange Act of 1934

Date ofReport (Date of earliest event reported): January 6, 2021

Innovative IndustrialProperties, Inc.

(Exact nameof registrant as specified in its charter)

1389 CenterDrive, Suite 200

Park City, UT84098

(Address ofprincipal executive offices, including zip code)

Registrant’s

telephone number, including area code: (858) 997-3332

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Securities Registered pursuant to Section 12(b) of the Act:

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

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.