Generation Income Properties signs $8.2M deal to buy Best Buy-anchored retail property

GENERATION INCOME PROPERTIES, INC.

Purchase price $8.2M for ~48,000 sq ft single-tenant retail building in Overland Park, KS.
Tenant is Best Buy (BBB+ S&P) with ~2 years lease term plus one 5-year renewal option.
Annual rent $630,994; acquisition funded ~50% mortgage debt and 50% equity.
Transaction subject to customary closing conditions and due diligence.
Property adds to portfolio of net-lease real estate assets.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GENERATION INCOME PROPERTIES, INC. entered into Purchase and Sale Agreement with Harbor Terrace Limited Partnership valued at $8,200,000 (effective 2023-02-10).

Action: entry
Agreement: asset purchase
Counterparty: Harbor Terrace Limited Partnership
Value: $8,200,000
Effective: 2023-02-10

Exact text from the filing

On February 10, 2023, Generation Income Properties L.P. (the “Operating Partnership”), the operating partnership of Generation Income Properties, Inc. (the “Company”), entered into a Purchase and Sale Agreement with Harbor Terrace Limited Partnership to acquire an approximately 48,000 square foot single-tenant retail building in Overland Park, KS for total consideration of $8.2 million, which is expected to be funded with approximately 50% mortgage debt and 50% equity.

View on SEC.gov

Browse all material agreements →

GENERATION INCOME PROPERTIES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-002920

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.