GIPR update
Generation Income Properties (NASDAQ: GIPR) released 1Q2025 earnings. Key updates:
-Its Board of Directors has initiated a review of strategic alternatives to identify opportunities to maximize value for shareholders. Such opportunities may include, but not be limited to, a sale, merger, or other strategic or financial transaction.
-Core FFO and Core AFFO were both negative for the period
-Portfolio now includes 30 properties which are 93% occupied with a 4.4-year weighted average lease term remaining. The General Service Administration, Dollar General, and the City of San Antonio collectively contributed 36% of annualized base rent
25-acre industrial lease
LXP Industrial (NYSE: LXP) announced the execution of a 2-year lease for its 1.1 million square foot industrial facility in the Greenville/Spartanburg, South Carolina market.
The lease to a U.S. subsidiary of a global logistics company commences on June 1, 2025 with an initial rent of $5.50 per square foot with 3.25% annual rental escalations. The signing of the lease results in an estimated stabilized cash yield of approximately 8.0% for the development project.
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