<SEC-DOCUMENT>0001873923-25-000054.txt : 20250317
<SEC-HEADER>0001873923-25-000054.hdr.sgml : 20250317
<ACCEPTANCE-DATETIME>20250317171958
ACCESSION NUMBER:		0001873923-25-000054
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250317
FILED AS OF DATE:		20250317
DATE AS OF CHANGE:		20250317

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MCDOWELL PAUL H
		CENTRAL INDEX KEY:			0001271688
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40873
		FILM NUMBER:		25745657

	MAIL ADDRESS:	
		STREET 1:		110 MAIDEN LANE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Orion Properties Inc.
		CENTRAL INDEX KEY:			0001873923
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2398 E. CAMELBACK ROAD, SUITE 1060
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85016
		BUSINESS PHONE:		(602) 698-1002

	MAIL ADDRESS:	
		STREET 1:		2398 E. CAMELBACK ROAD, SUITE 1060
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Orion Office REIT Inc.
		DATE OF NAME CHANGE:	20210720
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wk-form4_1742246392.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-03-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001873923</issuerCik>
        <issuerName>Orion Properties Inc.</issuerName>
        <issuerTradingSymbol>ONL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001271688</rptOwnerCik>
            <rptOwnerName>MCDOWELL PAUL H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ORION PROPERTIES INC.</rptOwnerStreet1>
            <rptOwnerStreet2>2398 E. CAMELBACK ROAD, SUITE 1060</rptOwnerStreet2>
            <rptOwnerCity>PHOENIX</rptOwnerCity>
            <rptOwnerState>AZ</rptOwnerState>
            <rptOwnerZipCode>85016</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>See Remarks.</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-03-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>12000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.483</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>293895</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">This transaction was executed in multiple trades. The price above reflects the weighted-average purchase price of trades ranging from $2.47 per share to $2.49 per share. Detailed information regarding the number of shares purchased at each separate price will be provided upon request by the Securities and Exchange Commission, the Issuer or a security holder of the Issuer.</footnote>
    </footnotes>

    <remarks>Chief Executive Officer, President</remarks>

    <ownerSignature>
        <signatureName>/s/ Paul C. Hughes, by power of attorney</signatureName>
        <signatureDate>2025-03-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
