Alpine Income Property Trust Acquires Property Anchored by Walmart and TJ Maxx for $20.7 Million

Core Insights - The company announced the acquisition of three properties in Richmond, Virginia for $20.7 million, totaling 177,441 square feet and fully leased [1] - Walmart Supercenter, with an AA credit rating, is the anchor tenant of one property, while another property is anchored by TJ Maxx, which has an A credit rating [1][2] - Following this acquisition, approximately 50% of the company's annualized base rent is now derived from investment-grade rated tenants [2] Property and Market Details - The properties are located on 14 acres in a strong market area, with an average household income of $146,000 and a population exceeding 200,000 within a five-mile radius [3] - The acquisition marks the introduction of the first TJ Maxx-branded store into the company's portfolio [2] Company Overview - Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust focused on delivering attractive risk-adjusted returns and dependable cash dividends through a diversified portfolio of single-tenant net leased commercial properties [4]