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

WINTER PARK, Fla., Nov. 20, 2025 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) today announced the $20.7 million acquisition of three separately parceled properties (the “Properties”) located on 14 total acres in Richmond, Virginia. The Properties, totaling 177,441 square feet, are fully leased and anchored by a Walmart Supercenter (AA credit rating) situated on an 8-acre ground lease. The acquisition also includes a four-tenant, triple-net-leased building anchored by TJ Maxx (A credit rating) and an additional ground leased outparcel.

With this acquisition, Walmart becomes the Company’s fourth largest tenant, joining a portfolio led by investment grade-rated tenants Lowe’s (BBB+ credit rating) and Dick’s Sporting Goods (BBB credit rating). The acquisition also introduces the Company’s first TJ Maxx-branded store within its portfolio. Following this transaction, approximately 50% of the Company’s annualized base rent is now attributable to investment-grade rated tenants.

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