Generation Income Properties Inc. (NASDAQ: GIPR) announced the appointment of three new board directors in May 2026 and outlined plans to expand into data centers and distribution facilities, according to a shareholder letter from Chief Executive Officer David Sobelman.

The company appointed Jess Johnson, Timothy Murray, and Matthew Stein as directors. The new board terminated $300,000 in compensation previously granted to a special committee that had not yet been paid.

Generation Income Properties completed a $5 million public equity offering on June 1, 2026, aimed at maintaining its Nasdaq listing and meeting stockholder equity requirements. The company reported eliminating approximately 50% of its Loci Capital preferred obligations as of June 30, 2026.

The Tampa, Florida-based real estate investment trust plans to pursue expansion into what it describes as higher-growth asset classes, including data centers and logistics facilities. The company is negotiating senior debt refinancings and maturity extensions while continuing discussions with Loci Capital to reduce remaining preferred obligations.

Generation Income Properties maintained 100% rent collection and sold assets at a profit over the past year, according to the letter. The company is pursuing transactions where private investors could access its public platform through structured asset contributions.

The REIT currently focuses on retail, office, and industrial net lease properties in densely populated submarkets. The strategic shift represents an expansion from its traditional property types as the company works to strengthen its balance sheet and maintain compliance with Nasdaq listing requirements.