Alpine Income Property Trust Acquires Industrial Portfolio for $117.3 Million
Alpine Income Property Trust (PINE) has agreed to acquire a portfolio of 13 industrial properties for $117.3 million, or approximately $63 per square foot. The acquisition spans 1.9 million square feet across 11 states and is currently fully leased to nine tenants. This strategic move expands PINE's real estate holdings in the industrial sector, which has seen strong demand due to e-commerce growth and supply chain shifts. By acquiring a portfolio that is already occupied, Alpine reduces vacancy risk while enhancing its income-generating assets. The deal reflects continued investor confidence in U.S. logistics infrastructure as companies seek long-term stable returns.
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