Generation Income buys first property

Generation Income Properties, a Tampa-based real estate investment trust that specializes in acquiring triple-net lease assets, has reached a milestone by closing on its first property.

The REIT spent $2.48 million to acquire a 3,000-square-foot, corporate-owned 7-Eleven store on the ground floor of a new residential tower in Washington, D.C.

“The asset checks every box on our strategy — triple-net property, densely populated city, with a highly qualified tenant,” says Generation Income CEO David Sobelman.