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We hereby consent to the incorporation by reference in the Registration Statements on Form S-3 (No. 333-258148) and Form S-8 (No. 333-214919) of Innovative Industrial Properties, Inc. (the “Company”) of our reports dated February 24, 2026, relating to the consolidated financial statements and financial statement schedule, and the effectiveness of the Company’s internal control over financial reporting, which appear in this Annual Report on Form 10-K. Our report contains an explanatory paragraph regarding the Company’s ability to continue as a going concern.