Generation Income Properties Announces Agreement for Pending $4.7 Million Transaction

Nov 03, 2021

TAMPA, FL / ACCESSWIRE / November 3, 2021 / Generation Income Properties, Inc. (NASDAQ:GIPR) ("GIP" or the "Company") announced the signing of a definitive Purchase and Sale Agreement under which the Company will acquire an approximately 30,000 SF single-tenant retail building in Grand Junction, Colorado for total consideration of approximately $4.7 million. The building is occupied by Best Buy (BBY), which currently holds an investment grade credit rating of BBB on the Standard & Poor's scale. There is approximately 5.5 years remaining on its current lease term, with the option for the tenant to renew for one (1) five (5) - year period, and annualized base rental income of $353,000.

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