Generation Income Properties, Inc. (OTCQB: GIPR) announced the signing of a definitive Purchase and Sale Agreement on February 16, 2021 under which the Company will acquire an approximately 7,800 SF single-tenant office building in Plant City, Florida for total consideration of approximately $1.7 million. It is anticipated that the acquisition of this property will be funded by a mix of debt and equity.

The building is occupied by Irby Construction Company, with a guarantee from Quanta Services Inc. which holds an investment grade credit rating of BBB- from Standard and Poor's. The transaction is subject to customary closing conditions and due diligence. David Sobelman, President and Chief Executive Officer of GIP, noted, “This potential acquisition shows that we are continually able to identify assets that are occupied by credit worthy tenants at attractive cap rates, helping to strengthen and grow our portfolio."

About Generation Income Properties:

Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment company formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial single-tenant properties located primarily in major United States cities, with an emphasis on the major coastal markets.

Additional information about Generation Income Properties, Inc. can be found at the Company’s corporate website: www.gipreit.com.