Alpine Income Property Trust (PINE) announced the acquisition of a 131,039-square-foot property net leased to Sam’s Club, located on approximately 12 acres in Houston, Texas. Sam’s Club is a subsidiary of Walmart (WMT), which holds an AA credit rating. With this acquisition, Walmart becomes the company’s fifth largest tenant as of today, joining a portfolio led by investment grade-rated tenants Lowe’s (LOW) and Dick’s Sporting Goods (DKS). Sam’s Club has operated at this location for nearly 25 years, within a dense infill market in Houston, Texas. The surrounding area features strong demographics, including an average household income of $111,000 and population of over 300,000 within a five-mile radius.
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