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Generation Income Properties, Inc. Purchases 63,000/SF Industrial Building in Huntsville, AL – Pratt & Whitney Occupies Mission Critical Facility

December 20, 2018

Generation Income Properties, Inc. – Tampa, FL – Generation Income Properties, Inc. (the “Company” or “GIP”) announced today that it has purchased, through a joint venture with Generation Income Properties, L.P., a 63,000/SF industrial building in Huntsville, Alabama. The building is net leased to Pratt & Whitney, a subsidiary of United Technologies.

The total purchase price was $8.3M plus closing costs and expenses, and was purchased using a combination of cash from the Company, funds from the joint venture partner and debt. The $8.3M purchase is GIP’s largest to date and adds another investment-grade credit tenant to its portfolio, increasing the Company’s annual gross-revenue by $685,000.

David Sobelman, CEO, stated, “I am extremely excited about the purchase of this asset. I am pleased the Company continues to find value in stabilized assets, growing both GIP’s portfolio and revenue for its shareholders.”

About Generation Income Properties

Generation Income Properties, Inc. located in Tampa, Florida, is an internally managed real estate investment trust (REIT) formed to acquire and own, directly and jointly, and fund development of, net leased real estate assets. GIP is focused on retail, medical, office and industrial freestanding single-tenant net leased properties located primarily in major United States cities.

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