Generation Income Properties, Inc. (NASDAQ: GIPR) has announced a successful long-term lease extension with Best Buy Stores, L.P. $(BBY)$ at its property in Grand Junction, Colorado. The extension, executed through a Second Amendment to Lease, adds five years to the existing lease, now extending from April 1, 2027, through March 31, 2032. Best Buy has also been granted two additional five-year renewal options. The amendment increases the annual rent to approximately $376,087 starting April 1, 2027, representing a rise from the current rent of about $353,061. This extension underscores Best Buy's commitment to the location and enhances the stability of Generation Income Properties' portfolio, aligning with their investment strategy of maintaining well-located real estate occupied by investment-grade tenants.
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