---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-21-027213"
form_type: "8-K"
ticker: "PW"
cik: "0001532619"
company_name: "Power REIT"
filed_at: "2021-11-04T23:59:59+00:00"
generated_at: "2026-06-28T12:55:23.497572+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Power REIT amends lease to fund $4.1M Phase 2 greenhouse improvements in Michigan; rent increases $830k/yr

## Summary
- Capital commitment of $4.1M for additional improvements; straight-line annual rent increases by $830k (20% unleveraged FFO yield).
- Total commitment now ~$25.6M for 556,146 sq ft greenhouse; 20-year triple-net lease with ~$5.1M annual rent (20% yield).
- Phase 2 upgrades focus on transitioning facility from pepper to cannabis; construction underway, cultivation expected early 2022.
- Michigan cannabis market strong: Sept 2021 sales $161M (+52.4% YoY); on track for $2B in 2021.

## SEC filing metadata
- accession: 0001493152-21-027213
- form_type: 8-K
- ticker: PW
- cik: 0001532619
- company_name: Power REIT
- filed_at: 2021-11-04T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1532619/000149315221027213/0001493152-21-027213-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1532619/000149315221027213/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-21-027213
- JSON: https://secwatch.observer/filing/0001493152-21-027213.json
- Plain text: https://secwatch.observer/filing/0001493152-21-027213.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.