CTO Realty Fully Leases Last Office Building With Fidelity and State of New Mexico

CTO Realty Growth, Inc. (NYSE:CTO) (the "Company" or "CTO"), an owner and operator of high-quality open-air retail centers located primarily in higher-growth markets in the Southeast and Southwest regions, announced its last non-core office building, totaling 212,000 square feet, is 100% leased to two investment grade tenants: Fidelity and the State of New Mexico.

The State of New Mexico, which originally signed a lease in June for 44,000 square feet, has amended its lease to increase its total space to 98,000 square feet, making the property fully leased. The lease has a 10-year agreement with two five-year options. Fidelity, which previously occupied the entire building, recently finalized an amendment reducing its space to 114,000 square feet as of November 30, 2025. Fidelity's lease now runs through November 2028 and includes two five-year options. Rent for the State of New Mexico's lease is expected to commence in the middle of 2026.

"We are pleased that the Albuquerque building is now leased to two high-quality tenants at a longer weighted-average remaining lease term," said John P. Albright, President and Chief Executive Officer of CTO Realty Growth. "Further, the property's blended annualized base rent will grow upon rent commencement by approximately 9%."