10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2021

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from             to             .

Commission File Number: 1-9044 (Duke Realty Corporation) 0-20625 (Duke Realty Limited Partnership)

DUKE REALTY CORPORATION

DUKE REALTY LIMITED PARTNERSHIP

(Exact Name of Registrant as Specified in Its Charter)

Indiana	(Duke Realty Corporation)		35-1740409	(Duke Realty Corporation)
Indiana	(Duke Realty Limited Partnership)		35-1898425	(Duke Realty Limited Partnership)
(State or Other Jurisdiction of Incorporation or Organization)			(I.R.S. Employer Identification Number)
8711 River Crossing Boulevard
Indianapolis,		Indiana	46240
(Address of Principal Executive Offices)			(Zip Code)

Registrant's Telephone Number, Including Area Code:

(317) 808-6000

Securities registered pursuant to Section 12(b) of the Act:

	Title of Class	Trading Symbol(s)	Name of Exchange on Which Registered
Duke Realty Corporation	Common Stock, $0.01 par value	DRE	New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Duke Realty Corporation Yes ☒ No ☐ Duke Realty Limited Partnership Yes ☒ No ☐

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  

Duke Realty Corporation Yes ☐ No ☒ Duke Realty Limited Partnership Yes ☐ No ☒

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    

Duke Realty Corporation Yes ☒ No ☐ Duke Realty Limited Partnership Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Duke Realty Corporation Yes ☒ No ☐ Duke Realty Limited Partnership Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Duke Realty Corporation:

Large accelerated filer ☒ Accelerated filer  ☐ Non-accelerated filer  ☐ Smaller reporting company  ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Duke Realty Limited Partnership:

Large accelerated filer  ☐ Accelerated filer  ☐ Non-accelerated filer  ☒ Smaller reporting company  ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

Duke Realty Corporation Yes ☒ No ☐ Duke Realty Limited Partnership Yes ☒ No ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Duke Realty Corporation Yes ☐ No ☒ Duke Realty Limited Partnership Yes ☐ No ☒

The aggregate market value of the voting shares of Duke Realty Corporation's outstanding common shares held by non-affiliates of Duke Realty Corporation is $18.01 billion based on the last reported sale price on June 30, 2021.

The number of common shares of Duke Realty Corporation, $0.01 par value outstanding as of February 16, 2022 was 382,767,539.

DOCUMENTS INCORPORATED BY REFERENCE

Certain portions of Duke Realty Corporation's Definitive Proxy Statement for its 2022 Annual Meeting of Shareholders (the "2022 Proxy Statement") to be filed pursuant to Rule 14a-6 of the Securities Exchange Act of 1934, as amended, are incorporated by reference into this Form 10-K. Other than those portions of the 2022 Proxy Statement specifically incorporated by reference pursuant to Items 10 through 14 of Part III hereof, no other portions of the 2022 Proxy Statement shall be deemed so incorporated.

EXPLANATORY NOTE

This report (the "Report") combines the annual reports on Form 10-K for the year ended December 31, 2021 of both Duke Realty Corporation and Duke Realty Limited Partnership. Unless stated otherwise or the context otherwise requires, references to "Duke Realty Corporation" or the "General Partner" mean Duke Realty Corporation and its consolidated subsidiaries; and references to the "Partnership" mean Duke Realty Limited Partnership and its consolidated subsidiaries. The terms the "Company," "we," "us" and "our" refer to the General Partner and the Partnership, collectively, and those entities owned or controlled by the General Partner and/or the Partnership.

Duke Realty Corporation is a self-administered and self-managed real estate investment trust ("REIT") and is the sole general partner of the Partnership, owning 99.1% of the common partnership interests of the Partnership ("General Partner Units") as of December 31, 2021. The remaining 0.9% of the common partnership interests ("Limited Partner Units" and, together with the General Partner Units, the "Common Units") are owned by limited partners. As the sole general partner of the Partnership, the General Partner has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Partnership.

The General Partner and the Partnership are operated as one enterprise. The management of the General Partner consists of the same members as the management of the Partnership. As the sole general partner with control of the Partnership, the General Partner consolidates the Partnership for financial reporting purposes, and the General Partner does not have any significant assets other than its investment in the Partnership. Therefore, the assets and liabilities of the General Partner and the Partnership are substantially the same.

We believe combining the annual reports on Form 10-K of the General Partner and the Partnership into this single report results in the following benefits:

•enhances investors' understanding of the General Partner and the Partnership by enabling investors to view the business as a whole in the same manner as management views and operates the business;

•eliminates duplicative disclosure and provides a more streamlined and readable presentation of information since a substantial portion of the Company's disclosure applies to both the General Partner and the Partnership; and

•creates time and cost efficiencies through the preparation of one combined report instead of two separate reports.

We believe it is important to understand the few differences between the General Partner and the Partnership in the context of how we operate as an interrelated consolidated company. The General Partner's only material asset is its ownership of partnership interests in the Partnership. As a result, the General Partner does not conduct business itself, other than acting as the sole general partner of the Partnership and issuing public equity from time to time. The General Partner does not issue any indebtedness, but does guarantee some of the unsecured debt of the Partnership. The Partnership holds substantially all the assets of the business, directly or indirectly, and holds the ownership interests related to certain of the Company's investments. The Partnership conducts the operations of the business and has no publicly traded equity. Except for net proceeds from equity issuances by the General Partner, which are contributed to the Partnership in exchange for General Partner Units or Preferred Units, the Partnership generates the capital required by the business through its operations, its incurrence of indebtedness and the issuance of Limited Partner Units to third parties.

Noncontrolling interests, shareholders' equity and partners' capital are the main areas of difference between the consolidated financial statements of the General Partner and those of the Partnership. The noncontrolling interests in the Partnership's financial statements include the interests in consolidated investees not wholly owned by the Partnership. The noncontrolling interests in the General Partner's financial statements include the same noncontrolling interests at the Partnership level, as well as the common limited partnership interests in the Partnership, which are accounted for as partners' capital by the Partnership.

In order to highlight the differences between the General Partner and the Partnership, there are separate sections in this report, as applicable, that separately discuss the General Partner and the Partnership, including separate financial statements and separate Exhibit 31 and 32 certifications. In the sections that combine disclosure of the General Partner and the Partnership, this report refers to actions or holdings as being actions or holdings of the collective Company.

TABLE OF CONTENTS

Form 10-K

Item No.		Page(s)
PART I
1.	Business	3
1A.	Risk Factors	9
1B.	Unresolved Staff Comments	18
2.	Properties	19
3.	Legal Proceedings	22
4.	Mine Safety Disclosures	22
PART II
5.	Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	23
6.	Reserved	24
7.	Management's Discussion and Analysis of Financial Condition and Results of Operations	25
7A.	Quantitative and Qualitative Disclosures About Market Risk	47
8.	Financial Statements and Supplementary Data	48
9.	Changes In and Disagreements With Accountants on Accounting and Financial Disclosure	48
9A.	Controls and Procedures	49
9B.	Other Information	50
9C.	Holding Foreign Companies Accountable Act Disclosure	50
PART III
10.	Directors, Executive Officers and Corporate Governance	50
11.	Executive Compensation	52
12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	52
13.	Certain Relationships and Related Transactions, and Director Independence	52
14.	Principal Accountant Fees and Services	52
PART IV
15.	Exhibits and Financial Statement Schedules	53
16.	Form 10-K Summary	114
Signatures		120

IMPORTANT INFORMATION ABOUT THIS REPORT

Cautionary Notice Regarding Forward-Looking Statements

Certain statements contained in or incorporated by reference into this Report on Form 10-K for the General Partner and the Partnership, including, without limitation, those related to our future operations, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "estimate," "expect," "anticipate," "intend," "plan," "strategy," "continue," "seek," "may," "could" and similar expressions or statements regarding future periods are intended to identify forward-looking statements, although not all forward-looking statements may contain such words.

These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any predictions of future results, performance or achievements that we express or imply in this Report or in the information incorporated by reference into this Report. Some of the risks, uncertainties and other important factors that may affect future results include, among others: 

•The impact of the COVID-19 pandemic on our business, our tenants and the economy in general, including the measures taken by governmental authorities to address it;

•Changes in general economic and business conditions, including the financial condition of our tenants and the value of our real estate assets;

•Changes to U.S. laws, regulations, rules and policies;

•The General Partner's continued qualification as a REIT for U.S. federal income tax purposes;

•Heightened competition for tenants and potential decreases in property occupancy;

•Adverse events concerning our major tenants;

•Potential changes in the financial markets and interest rates;

•Volatility in the General Partner's stock price and trading volume;

•Our continuing ability to raise funds on favorable terms;

•Our ability to successfully identify, acquire, develop and/or manage properties on terms that are favorable to us;

•Potential increases in real estate construction costs including construction cost increases as the result of inflation and supply chain constraints;

•Our real estate asset concentration in the industrial sector and potential volatility in this sector;

•Our ability to successfully dispose of properties on terms that are favorable to us;

•Our ability to successfully integrate our acquired properties;

•Our ability to retain our current credit ratings;

•Inherent risks related to disruption of information technology networks and related systems and cyber security attacks;

•Inherent risks in the real estate business, including, but not limited to, tenant defaults, potential liability relating to environmental matters and liquidity of real estate investments; and

•Other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in our other reports and other public filings with the Securities and Exchange Commission (the "SEC").

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Although we presently believe that the plans, expectations and anticipated results expressed in or suggested by the forward-looking statements contained in or incorporated by reference into this Report are reasonable, all forward-looking statements are inherently subjective, uncertain and subject to change, as they involve substantial risks and uncertainties, including those beyond our control. New factors emerge from time to time, and it is not possible for us to predict the nature, or assess the potential impact, of each new factor on our business. Given these uncertainties, we caution you not to place undue reliance on these forward-looking statements. We undertake no obligation to update or revise any of our forward-looking statements for events or circumstances that arise after the statement is made, except as otherwise may be required by law.

The above list of risks and uncertainties is only a summary of some of the most important factors and is not intended to be exhaustive. Additional information regarding risk factors that may affect us is included under the caption "Risk Factors" in this Report, and is updated by us from time to time in Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings that we make with the SEC.

PART I

Item 1.  Business

Company Overview

The General Partner and Partnership collectively specialize in the ownership, management and development of industrial real estate.

The General Partner is a self-administered and self-managed REIT, which began operations upon completion of an initial public offering in February 1986.

The Partnership was formed in October 1993, when the General Partner contributed all of its properties and related assets and liabilities, together with the net proceeds from an offering of additional shares of its common stock, to the Partnership. Simultaneously, the Partnership completed the acquisition of Duke Associates, a full-service commercial real estate firm operating in the Midwest whose operations began in 1972. The General Partner is the sole general partner of the Partnership, owning 99.1% of the Common Units at December 31, 2021. The remaining 0.9% of the Common Units are owned by limited partners. Limited partners have the right to redeem their Limited Partner Units, subject to certain restrictions. Pursuant to the Fifth Amended and Restated Agreement of Limited Partnership, as amended (the "Partnership Agreement"), the General Partner is obligated to redeem the Limited Partner Units in shares of its common stock, unless it determines in its reasonable discretion that the issuance of shares of its common stock could cause it to fail to qualify as a REIT. Each Limited Partner Unit shall be redeemed for one share of the General Partner's common stock, or, in the event that the issuance of shares could cause the General Partner to fail to qualify as a REIT, cash equal to the fair market value of one share of the General Partner's common stock at the time of redemption, in each case, subject to certain adjustments described in the Partnership Agreement. The Limited Partner Units are not required, per the terms of the Partnership Agreement, to be redeemed in registered shares of the General Partner.

At December 31, 2021, we owned or jointly controlled 548 primarily industrial properties which encompassed 162.7 million rentable square feet (including 40 unconsolidated joint venture in-service properties with 12.9 million square feet, 29 consolidated properties under development with 8.5 million square feet and two unconsolidated joint venture properties under development with 1.2 million square feet). Our properties are leased by a diverse base of more than 800 tenants whose businesses include logistics, e-commerce, manufacturing, wholesale trade and retailing. We have one tenant, to whom we both lease a significant amount of space and also provide general contractor and construction management services, from whom we derived greater than 10.0% of our total revenues.

We also owned, including through ownership interests in unconsolidated joint ventures (with acreage not adjusted for our percentage ownership interest), 431 acres of land and controlled an additional 925 acres through purchase options.

Our headquarters and executive offices are located in Indianapolis, Indiana. We additionally have regional offices or significant operations in 18 other geographic or metropolitan areas including Atlanta, Georgia; Chicago, Illinois;

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Cincinnati, Ohio; Columbus, Ohio; Dallas, Texas; Houston, Texas; Minneapolis/St. Paul, Minnesota; Nashville, Tennessee; Raleigh, North Carolina; Savannah, Georgia; Seattle, Washington; Washington D.C./Baltimore, Maryland; Central Florida; New Jersey; Northern and Southern California; Pennsylvania and South Florida.

Company Strategies

Our overall strategy is to maximize cash flows from operations, increase our investment in Coastal Tier 1 markets (we define "Coastal Tier 1" markets as Southern California, Northern California, Seattle, Northern New Jersey and South Florida) and to maintain a strong balance sheet.

Operational Strategy

Our operational focus is to drive profitability by maximizing cash from operations and earnings through (i) maintaining property occupancy, increasing rental rates and prioritizing timely collection of monthly rental payments, while also keeping lease-related capital costs contained, by effectively managing our portfolio of existing properties and (ii) providing a broad line of real estate services to our tenants and to third parties.

Asset Strategy

Our strategic objectives include (i) increasing our investment in quality industrial properties through development, with sustainable design features that will meet customer needs; (ii) acquiring properties primarily in Coastal Tier 1 markets, which we believe provide the best potential for future rental growth; and (iii) maintaining an optimal land inventory through selected strategic land acquisitions to support new development activity. We continue to execute our asset strategy through a disciplined approach by identifying development opportunities and identifying select acquisition targets where the asset quality and pricing meet our objectives.

Capital Strategy

Our capital strategy is to maintain a strong balance sheet by actively managing the components of our capital structure in coordination with the execution of our overall operational and asset strategies. We are focused on maintaining our current investment grade ratings from our credit rating agencies. As of December 31, 2021, our senior unsecured notes have been assigned a rating of Baa1 by Moody's Investors Services and BBB+ by Standard & Poor's Ratings Group and we are focused on maintaining such ratings in order to maintain access to liquidity. A securities rating is not a recommendation to buy, sell, or hold securities and is subject to revision or withdrawal at any time by the rating organization.

In support of our capital strategy, we continually evaluate our portfolio and regularly identify and dispose of assets that no longer meet our long-term objectives.

We continue to focus on maintaining a balanced and flexible capital structure which includes: (i) extending and sequencing the maturity dates of our outstanding debt obligations; (ii) borrowing primarily at fixed rates; and (iii) issuing common equity as needed to maintain appropriate leverage parameters or support significant strategic developments or acquisitions. With our successes to date and continued focus on maintaining a strong balance sheet, we expect to be opportunistic in our investment opportunities.

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Competitive Conditions

As a fully integrated commercial real estate firm, we provide in-house leasing, management, development and construction services which we believe, coupled with our significant base of commercially zoned and unencumbered land in existing business parks, should give us a competitive advantage as a real estate operator and in future development activities.

We believe that the management of real estate opportunities and risks can be done most effectively at regional or on local levels. As a result, we intend to continue our emphasis on increasing our market share, to the extent it is in markets that align with our asset strategy, and effective rents in the primary markets where we own properties. We believe that this regional focus will allow us to assess market supply and demand for real estate more effectively as well as to capitalize on the strong relationships with our tenant base. In addition, we seek to further capitalize on our many strong relationships with customers that operate on a national level. As a fully integrated real estate company, we are able to arrange for or provide to our tenants not only well located and well maintained facilities, but also the capability for build-to-suit construction, tenant finish construction, and expansion flexibility.

All of our properties are located in areas that include competitive properties. Institutional investors, other REITs or local real estate operators generally own such properties; however, no single competitor or small group of competitors is dominant in our current markets. The supply of and demand for similar available rental properties may affect the rental rates we will receive on our properties. Other competitive factors include the attractiveness of the property location, the quality of the property and tenant services provided, and the reputation of the owner and operator.

Environmental, Social and Corporate Governance ("ESG")

We are focused on promoting our growth in a sustainable way, one that succeeds by delivering long-term value for our stakeholders. As part of our vision to deliver sustainable excellence in logistics real estate, we have a long-standing commitment to sustainable practices in environmental, social and corporate governance initiatives.

Environmental

We continuously look for new and better ways to minimize our environmental impact as well as that of our tenants. We are especially focused on energy consumption, water consumption and greenhouse gas emissions.

On December 17, 2019, we adopted a Sustainable Development Policy intended to increase the operational efficiency of our buildings and promote sustainable design principles. We are committed to integrating innovative, sustainable building design features in alignment with the U.S. Green Building Council® ("USGBC®") Leadership in Energy and Environmental Design (or LEED®), of which we have been a member of since 2008. In April 2021, we achieved acceptance into the USGBC® volume certification program to help streamline our sustainable development process. Specifically, we invest in sustainable practices, such as water usage reduction measures, efficient lighting, high efficient HVAC and renewable energy, construction waste reduction, recycling and user well-being attributes with the goal of positively impacting the experience of our tenants and increasing the value of our assets.

We do not have access to approximately 95% of the utility usage at our properties but, for the utilities in our control, we have been partnering with a third party data management provider to help monitor and manage usage.

Below is a chart showing our information for the applicable sustainability metrics that we monitor and report on in alignment with the Sustainability Accounting Standards Board standard for real estate:

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Topic	Accounting Metric	Code	Our Information
Energy Management	Description of how building energy management considerations are integrated into property investment analysis and operational strategy	IF-RE-130a.5	We integrate energy usage reduction measures on all new developments, incorporating LEED certification requirements and applicable aspects of our own sustainability policies/programs. These measures include energy modeling, high efficiency equipment (HVAC and lighting), and climate zone appropriate design factors. We have an ongoing lighting retrofit program, replacing outdated light fixtures with LED fixtures.
Water Management	Description of water management risks and discussion of strategies and practices to mitigate those risks	IF-RE-140a.4	We integrate water reduction measures on all new developments and renovation, incorporating LEED water efficient credit criteria or applicable aspects of our own sustainability policies/programs. These measures include the use of WaterSense® fixtures for all domestic usage, xeriscaping to minimize or eliminate the need for irrigation, and water usage monitoring, where available and appropriate.
Climate Change Adaptation	Area of properties located in 100-year flood zones, by property subsector	IF-RE-450a.1	4.5 million square feet.

In November 2021, in an effort to mitigate and reduce our greenhouse gas emissions, we set a goal to achieve carbon neutrality for our own operations by 2025 and to achieve carbon neutrality in alignment with the Paris Climate Accords by 2040. Carbon emissions from our operations are calculated as scope 1 and 2 emissions, which are direct and indirect emissions such as purchased power to operate our Duke Realty offices. Scope 3 emissions are the largest category and include the emissions created from our upstream and downstream activities including but not limited to tenant utilities from our owned buildings, the development process, waste and company travel. We have a comprehensive strategy to meet our goals by reducing carbon emissions, replacing energy sources with renewable energy and offsetting energy consumption.

We issued two green bonds in 2021 including an issuance of $500.0 million of senior unsecured notes in November 2021 with a stated interest rate of 2.25% due January 15, 2032 and an issuance of $450.0 million of senior unsecured notes in January 2021 with a stated interest rate of 1.75% due February 1, 2031. We now hold three green bonds totaling $1.35 billion. The net proceeds from these offerings will be used to finance future or refinance recently completed “eligible green projects”. These projects may include green buildings, energy efficiency projects, sustainable water and wastewater management systems, renewable energy projects, clean transportation solutions and pollution prevention and control. Green buildings are new development, redevelopment, or acquisitions of buildings, that have or are expected to receive Certified, Silver or Gold LEED certification through a 3rd party review and validation process by USGBC’s Green Building Certification Institute. In 2021, we also added a sustainability metric to our line of credit tied to growing the percentage of our LEED® developed projects.

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Social

We are committed to social responsibility by developing and maintaining strong relationships with our associates, customers, business partners, investors as well as the communities in which we operate and invest. We are committed to fair compensation and pay equity, fostering a dynamic and balanced work environment and providing associates with developmental opportunities to perform well and derive satisfaction from their work. We support and encourage our associates to participate in volunteer and community activities by providing each associate with two paid community days per year. We also have charitable contribution programs, such as our dollars for doers program (matching dollars for volunteer hours spent) and our matching gifts program (matching dollars for associates donations to charities). In addition, we partner with various charitable organizations, including the American Red Cross since 2017. Our sustainable development, energy, and resource usage policies help to create a cleaner and healthier environment for the communities we serve. In 2021, we completed a community solar project where we partnered with solar developers to install solar panels on the rooftops of several buildings we own to enable the capture of solar energy for the neighboring community. Through all of these initiatives and others, we endeavor to make a positive impact on the communities in which we conduct business.

Corporate Governance

Since our inception, we not only have strived to be a top-performer operationally, but also to lead in issues important to investors such as disclosure and corporate governance. The General Partner's system of governance reinforces this commitment and, as a limited partnership that has one general partner owning over 90% of the Partnership's common interest, the governance of the Partnership is necessarily linked to the corporate governance of the General Partner. Summarized below are the highlights of the General Partner's Corporate Governance initiatives. 

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Board Composition	• The General Partner's board is controlled by a supermajority (91.7%) of "Independent Directors," as such term is defined under the rules of the New York Stock Exchange (the "NYSE") • 55% of the Independent Directors are female or people of color and the General Partner's compensation and human capital and finance committees are both chaired by females
Board Committees	• The General Partner's board committee members are all Independent Directors
Lead Director	• The Lead Director is independent, serves as the Chairman of the General Partner's corporate governance committee and presides at all meetings of the board at which the Chair is not present, including executive sessions of the independent directors (among other responsibilities)
Board Policies	- General Partner's Bylaws include proxy access - Board Diversity, Equity and Inclusion Policy - No Shareholder Rights Plan (Poison Pill) - Code of Business Ethics applies to all directors and employees of the General Partner, including the Chief Executive Officer and senior financial officers; waivers applied to executive officers require the approval of (i) the General Partner's board of directors or (ii) the General Partner's corporate governance committee - Orientation program for new directors of the General Partner - Independence of directors of the General Partner is reviewed annually - Independent Directors of the General Partner meet at least quarterly in executive sessions - Independent Directors of the General Partner receive no compensation from the General Partner other than as directors - Equity-based compensation plans require the approval of the General Partner's shareholders - Board effectiveness and performance are reviewed annually by the General Partner's corporate governance committee - Individual director evaluations are performed annually - The General Partner's corporate governance committee conducts an annual review of the Chief Executive Officer succession plan - Independent Directors and all board committees of the General Partner may retain outside advisors, as they deem appropriate - Prohibition on repricing of outstanding stock options of the General Partner - Directors of the General Partner required to offer resignation upon job change - Majority voting for election of directors of the General Partner - Human Rights Policy - Shareholder Communications Policy
Ownership	Minimum Stock Ownership Guidelines apply to all directors and executive officers of the General Partner

The General Partner's Code of Business Ethics (which applies to all directors and associates of the General Partner, including the Chief Executive Officer and senior financial officers) and the Corporate Governance Guidelines are available in the Investor Relations/Corporate Governance section of the General Partner's website at www.dukerealty.com. A copy of these documents may also be obtained without charge by writing to Duke Realty Corporation, 8711 River Crossing Boulevard, Indianapolis, Indiana 46240, Attention: Investor Relations. If we amend our Code of Business Ethics as it applies to the directors and all executive officers of the General Partner or grant a waiver from any provision of the Code of Business Ethics to any such person, we may, rather than filing a current report on Form 8-K, disclose such amendment or waiver in the Investor Relations/Corporate Governance section of the General Partner's website at www.dukerealty.com.

Since 2020, we implemented a Vendor Code of Conduct that outlines our expectations and standards for how our vendors operate while doing business on our behalf.

Further, we publish an annual Corporate Responsibility Report which formally communicates our commitments and leadership around ESG issues.

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Through all of our environmental, social and corporate governance efforts, we demonstrate that operating and developing commercial real estate can be conducted with a conscious regard for the environment and community, while also benefiting our investors, associates, tenants and the communities in which we operate.

Human Capital

We had approximately 340 associates at December 31, 2021 and our average associate tenure was 12.2 years. We are committed to increasing transparency in the diversity of our workforce, so in 2021 we disclosed our 2020 EEO-1 report on our corporate website. The composition of our workforce and upper management at December 31, 2021 were as follows:

	Workforce		Upper Management
Female	46	%	24	%
Male	54	%	76	%
People of color	16	%	12	%
Other	84	%	88	%

Our compensation and human capital committee, a board committee, reviews associate turnover and diversity, as well as associate development and engagement programs. We also routinely conduct associate engagement surveys and have received numerous awards for being a great place to work. While attracting, developing and retaining our talent, we are dedicated to fair compensation, fostering an inclusive and diverse culture and a dynamic and balanced work environment, which provides associates with opportunities to perform well and derive satisfaction from their work. The compensation structures of many of our senior associates are directly tied to metrics or other objectives that support our corporate strategy.

We require ethical conduct by our associates and all associates are required to complete annual Code of Business Ethics training sessions, and associates and directors must sign off on our Code of Business Ethics every year.

Additional Information

For additional information regarding our investments and operations, see Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and Item 8, "Financial Statements and Supplementary Data." For additional information about our business segments, see Item 8, "Financial Statements and Supplementary Data - Notes to Consolidated Financial Statements - (9) Segment Reporting."

Available Information

In addition to this Report, we file quarterly and current reports, proxy statements and other information with the SEC. All documents that are filed with the SEC are available free of charge on the General Partner's corporate website, which is www.dukerealty.com. We are not incorporating the information on the General Partner's website into this Report, and the General Partner's website and the information appearing on the General Partner's website is not included in, and is not part of, this Report. You may also access any document filed through the SEC's home page on the Internet (http://www.sec.gov).

Item 1A. Risk Factors

In addition to the other information contained in this Report, you should carefully consider, in consultation with your legal, financial and other professional advisors, the risks described below, as well as the risk factors and uncertainties discussed in our other public filings with the SEC under the caption "Risk Factors" in evaluating us and our business before making a decision regarding an investment in the General Partner's securities.

The risks contained in this Report are not the only risks that we face. Additional risks that are not presently known, or that we presently deem to be immaterial, also could have a material adverse effect on our financial condition, results of operations, business and prospects. The trading price of the General Partner's securities could decline due

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to the materialization of any of these risks, and its shareholders and/or the Partnership's unitholders may lose all or part of their investment.

This Report also contains forward-looking statements that may not be realized as a result of certain factors, including, but not limited to, the risks described herein and in our other public filings with the SEC. Please refer to the section in this Report entitled "Cautionary Notice Regarding Forward-Looking Statements" for additional information regarding forward-looking statements.

Risks Related to the COVID-19 Pandemic

The full effects of the COVID-19 pandemic are highly uncertain and cannot be predicted.

The outbreak of COVID-19, a respiratory disease caused by a novel corona virus, has spread globally since being declared a pandemic by the World Health Organization in March 2020. Although vaccines have been developed and are widely distributed in the United States, newer and more contagious variants of COVID-19 have further amplified the impact of the pandemic while significant components of the United States population are resistant to vaccination efforts.

The COVID-19 pandemic has also coincided with labor shortages and increased staffing costs for many companies operating in the United States. COVID-19 related disruptions to the international supply chain, including transportation and distribution delays, longer lead times for construction materials and increased construction costs have resulted in shortages of certain goods and inflationary conditions. These developments, as well as other ramifications of the COVID-19 pandemic may result in prolonged inflationary conditions that could have a detrimental impact on our tenant base, our ability to lease vacant space and our ability to grow through development and acquisition. Future adverse impacts to the economy caused by COVID-19 may also result in market volatility and large swings in global stock prices that may negatively impact our share price. These potential risks could also negatively impact our future ability to access capital, which would negatively impact our liquidity and our ability to execute our strategic plans.

The impacts of the outbreak could, among other things, negatively affect (i) the operation of our properties, (ii) the effectiveness of our strategic decision making, (iii) the operation of an effective cyber security function, (iv) the operation of our key information systems, (v) our ability to make timely filings with the SEC and (vi) our ability to maintain an effective control environment.

Risks Related to Our Business

Our use of debt financing could have a material adverse effect on our financial condition.

We are subject to the risks normally associated with debt financing, including the risk that our cash flow will be insufficient to meet required principal and interest payments and the long-term risk that we will be unable to refinance our existing indebtedness, or that the terms of such refinancing will not be as favorable as the terms of existing indebtedness. Additionally, we may not be able to refinance borrowings by our unconsolidated subsidiaries on favorable terms or at all. If our debt cannot be paid, refinanced or extended, we may not be able to make distributions to shareholders and unitholders at expected levels. Further, if prevailing interest rates or other factors at the time of a refinancing result in higher interest rates or other restrictive financial covenants upon the refinancing, then such refinancing would adversely affect our cash flow and funds available for operation, development and distribution.

We also have incurred, and may incur in the future, indebtedness that bears interest at variable rates. Thus, if market interest rates increase, so will our interest expense, which could reduce our cash flow and our ability to make distributions to shareholders and unitholders at expected levels.

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Debt financing may not be available and equity issuances could be dilutive to our shareholders and unitholders.

Our ability to execute our business strategy depends on our access to an appropriate blend of debt financing, including unsecured lines of credit and other forms of secured and unsecured debt, and equity financing, including common equity and, at times, preferred equity issued by the General Partner. Debt financing may not be available over a longer period of time in sufficient amounts, on favorable terms or at all. If the General Partner issues additional equity securities, instead of debt, to manage capital needs, the interests of our existing shareholders and unitholders could be diluted.

Financial and other covenants under existing credit agreements could limit our flexibility and adversely affect our financial condition.

The terms of our various credit agreements and other indebtedness require that we comply with a number of customary financial and other covenants, such as maintaining debt service coverage and leverage ratios and maintaining insurance coverage. These covenants may limit our flexibility in our operations, and breaches of these covenants could result in defaults under the instruments governing the applicable indebtedness even if we have satisfied our payment obligations. As a result, we would also likely be unable to borrow any further amounts under our other debt instruments and other debt obligations may be accelerated, which could adversely affect our ability to fund operations.

Downgrades in our credit ratings could increase our borrowing costs or reduce our access to funding sources in the credit and capital markets.

We have a significant amount of debt outstanding, consisting mostly of unsecured debt. We are currently assigned corporate credit ratings from Moody's Investors Service, Inc. and Standard and Poor's Ratings Group based on their evaluation of our creditworthiness. All of our debt ratings remain investment grade, but there can be no assurance that we will not be downgraded or that any of our ratings will remain investment grade. If our credit ratings are downgraded or other negative action is taken, we could be required, among other things, to pay additional interest and fees on outstanding borrowings under our revolving credit agreement.

Credit rating reductions by one or more rating agencies could also adversely affect our access to funding sources, the cost and other terms of obtaining funding as well as our overall financial condition, operating results and cash flow.

If we are unable to generate sufficient capital and liquidity, then we may be unable to pursue future development projects and other strategic initiatives.

To complete our ongoing and planned development projects, and to pursue our other strategic initiatives, we must continue to generate sufficient capital and liquidity to fund those activities. To generate that capital and liquidity, we rely upon funds from our existing operations, as well as funds that we raise through our capital raising activities. In the event that we are unable to generate sufficient capital and liquidity to meet our long-term needs, or if we are unable to generate capital and liquidity on terms that are favorable to us, then we may not be able to pursue development projects, acquisitions, or our other long-term strategic initiatives.

Our use of joint ventures may negatively impact our jointly-owned investments.

We have, and may continue to develop properties in, or contribute properties to, joint ventures with other persons or entities when circumstances warrant the use of these structures. Our participation in joint ventures is subject to the risks that: 

•We could become engaged in a dispute, or have conflicts of interests, with any of our joint venture partners that might affect our ability to develop or operate a property; and

•Our joint venture partners may have different objectives than we have regarding the appropriate timing and terms of any sale or refinancing of properties.

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Risks Related to the Real Estate Industry

Our net earnings available for investment or distribution to shareholders and unitholders could decrease as a result of factors related to the ownership and operation of commercial real estate, many of which are outside of our control.

Our business is subject to the risks incident to the ownership and operation of commercial real estate, many of which involve circumstances not within our control. Such risks include the following: 

•Changes in the general economic climate;

•The availability of capital on favorable terms, or at all;

•Increases in interest rates;

•Local conditions such as oversupply of property or a reduction in demand;

•Competition for tenants;

•Changes in market rental rates;

•Delay or inability to collect rent from tenants who are bankrupt, insolvent or otherwise unwilling or unable to pay;

•Difficulty in leasing or re-leasing space quickly or on favorable terms;

•Costs associated with periodically renovating, repairing and reletting rental space;

•Our ability to provide adequate maintenance and insurance on our properties;

•Our ability to control variable operating costs;

•Changes in government regulations; and

•Potential liability under, and changes in, environmental, zoning, tax and other laws.

Any one or more of these factors could result in a reduction in our net earnings available for investment or distribution to shareholders and unitholders.

Many real estate costs are fixed, even if income from properties decreases.

Our financial results depend on leasing space in our real estate to tenants on terms favorable to us. Our income and funds available for distribution to our shareholders and unitholders will decrease if a significant number of our tenants cannot meet their lease obligations to us or we are unable to lease properties on favorable terms. In addition, if a tenant does not pay its rent, we may not be able to enforce our rights as landlord without delays and we may incur substantial legal costs. Costs associated with real estate investment, such as real estate taxes, insurance, maintenance costs and our debt service payments, generally are not reduced when circumstances cause a reduction in income from the investment. As a result, we may have a reduction in our net earnings available for investment or distribution to our shareholders and unitholders.

Our real estate development activities are subject to risks particular to development.

We continue to selectively develop new properties for rental operations in our existing markets when accretive returns are present. These development activities generally require various government and other approvals, which we may not receive. In addition, we also are subject to the following risks associated with development activities: 

•Unsuccessful development opportunities could result in direct expenses to us;

•Construction costs could increase as the result of inflation and supply chain constraints;

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•Construction costs of a project may exceed original estimates, possibly making the project less profitable than originally estimated, or possibly unprofitable;

•Time required to complete the construction of a project or to lease up the completed project may be greater than originally anticipated, thereby adversely affecting our cash flow and liquidity;

•Occupancy rates and rents of a completed project may not be sufficient to make the project profitable; and

•Favorable sources to fund our development activities may not be available.

We may be unsuccessful in operating completed real estate projects.

We face the risk that the real estate projects we develop or acquire will not perform in accordance with our expectations. This risk exists because of factors such as the following: 

•Prices paid for acquired facilities are based upon a series of market judgments; and

•Costs of any improvements required to bring an acquired facility up to standards to establish the market position intended for that facility might exceed budgeted costs.

As a result, we may develop or acquire projects that are not profitable.

Our investments are concentrated in the industrial sector and our business would be adversely affected by an economic downturn in that sector.

Our investments in real estate assets are concentrated in the industrial sector. This concentration may expose us to the risk of economic downturns in this sector to a greater extent than if our business activities were more diversified.

We are exposed to the risks of defaults by tenants.

Any of our tenants may experience a downturn in their businesses that may weaken their financial condition. In the event of default or the insolvency of a significant number of our tenants, we may experience a substantial loss of rental revenue and/or delays in collecting rent and incur substantial costs in enforcing our rights as landlord. If a tenant files for bankruptcy protection, a court could allow the tenant to reject and terminate its lease with us. Our income and distributable cash flow would be adversely affected if a significant number of our tenants became unable to meet their obligations to us, became insolvent or declared bankruptcy.

A default by one of our largest tenants could have a more significant negative financial impact on our operations. As of December 31, 2021, our 10 largest tenants accounted for 21.3% of our total annualized net rental revenue and the two largest of these tenants accounted for 10.4% of our total annualized net rental revenue. Annualized net rental revenue equals the average annual rental property revenue over the terms of the respective leases excluding operating expenses and additional rent due as operating expense reimbursements. Annualized net rental revenue, for the purpose of this risk factor, also includes leases to our largest tenants in properties owned by unconsolidated joint ventures at their ownership percentage.

We may be unable to renew leases or relet space.

When our tenants decide not to renew their leases upon their expiration, we may not be able to relet the space. Even if our tenants do renew or we are able to relet the space, the terms of renewal or reletting (including the cost of renovations, if necessary) may be less favorable than current lease terms. If we are unable to promptly renew the leases or relet the space, or if the rental rates upon such renewal or reletting are significantly lower than current rates, then our income and distributable cash flow would be adversely affected, especially if we were unable to lease a significant amount of the space vacated by tenants in our properties.

Our insurance coverage on our properties may be inadequate.

We maintain comprehensive insurance on each of our facilities, including property, liability and environmental coverage. We believe this coverage is of the type and amount customarily obtained for real property. However, there are certain types of losses, generally of a catastrophic nature, such as hurricanes, earthquakes and floods or

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acts of war or terrorism that may be uninsurable or not economically insurable. We use our discretion when determining amounts, coverage limits and deductibles for insurance. These terms are determined based on retaining an acceptable level of risk at a reasonable cost. This may result in insurance coverage that in the event of a substantial loss would not be sufficient to pay the full current replacement cost of the damaged assets. Inflation, changes in building codes and ordinances, environmental considerations, acts of a governmental authority and other factors also may make it unfeasible to collect insurance proceeds to replace a facility after it has been damaged or destroyed. If an uninsured or underinsured loss occurred, we could lose both our investment in and anticipated profits and cash flow from a property, and we would continue to be obligated on any mortgage indebtedness or other obligations related to the property. We are also subject to the risk that our insurance providers may be unwilling or unable to pay our claims when made.

Our asset strategy may lead to long-term dilution.

Our asset strategy is to increase our investment concentration in Coastal Tier 1 markets. There can be no assurance that we will be able to execute our strategy or that our execution of such strategy will lead to improved results.

Acquired properties may expose us to unknown liability.

From time to time, we may acquire properties subject to liabilities and without any recourse, or with only limited recourse, with respect to unknown liabilities. As a result, if a liability were asserted against us based upon ownership of those properties, we might have to pay substantial sums to settle or contest it, which could adversely affect our results of operations and cash flow. Unknown liabilities with respect to acquired properties might include: 

•liabilities for clean-up of undisclosed environmental contamination;

•claims by tenants, vendors or other persons against the former owners of the properties;

•liabilities incurred in the ordinary course of business; and

•claims for indemnification by general partners, directors, officers and others indemnified by the former owners of the properties.

We could be exposed to significant environmental liabilities as a result of conditions of which we currently are not aware.

As an owner and operator of real property, we may be liable under various federal, state and local laws for the costs of removal or remediation of certain hazardous substances released on or in our property. Such laws often impose liability without regard to whether the owner or operator knew of, or was responsible for, the release of the hazardous substances. In addition, we could have greater difficulty in selling real estate on which hazardous substances were present or in obtaining borrowings using such real estate as collateral. It is our general policy to have Phase I environmental audits performed for all of our properties and land by qualified environmental consultants at the time of purchase. These Phase I environmental audits have not revealed any environmental liability that would have a material adverse effect on our business. However, a Phase I environmental audit does not involve invasive procedures such as soil sampling or ground water analysis, and we cannot be sure that the Phase I environmental audits did not fail to reveal a significant environmental liability or that a prior owner did not create a material environmental condition on our properties or land which has not yet been discovered. We could also incur environmental liability as a result of future uses or conditions of such real estate or changes in applicable environmental laws.

We are exposed to the potential impacts of future climate change and climate-change related risks.

We are exposed to potential physical risks from possible future changes in climate. We have a significant investment in properties in coastal markets such as Southern California, Northern California and South Florida and have also targeted those markets for future growth. Those coastal markets have historically experienced severe weather events, such as storms and drought, as well as other natural catastrophes such as wildfires and floods. If the frequency of extreme weather and other natural events increases due to climate change, our exposure to these events

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could increase. We may also be adversely impacted as a real estate owner, manager and developer in the future by stricter energy and water efficiency standards, water access for our buildings or greenhouse gas regulations.

Compliance with new laws or regulations relating to climate change, including compliance with “green” building codes, may require us to make improvements to our existing properties or result in increased operating costs that we may not be able to effectively pass on to our tenants. Any such laws or regulations could also impose substantial costs on our tenants, thereby impacting the financial condition of our tenants and their ability to meet their lease obligations and to lease or re-lease our properties. We cannot give any assurance that other such conditions do not exist or may not arise in the future. The potential impacts of future climate change on our real estate properties could adversely affect our ability to lease, develop or sell such properties.

Risks Related to Our Organization and Structure

If the General Partner were to cease to qualify as a REIT, it would lose significant tax benefits.

The General Partner intends to continue to operate so as to qualify as a REIT under the Internal Revenue Code of 1986, as amended (the "Code"). Qualification as a REIT provides significant tax advantages to the General Partner. However, in order for the General Partner to continue to qualify as a REIT, it must satisfy numerous requirements established under highly technical and complex Code provisions for which there are only limited judicial and administrative interpretations. Satisfaction of these requirements also depends on various factual circumstances not entirely within our control. The fact that the General Partner holds its assets through the Partnership further complicates the application of the REIT requirements. Even a technical or inadvertent mistake could jeopardize the General Partner's REIT status. Although we believe that the General Partner can continue to operate so as to qualify as a REIT, we cannot offer any assurance that it will continue to do so or that legislation, new regulations, administrative interpretations or court decisions will not significantly change the qualification requirements or the federal income tax consequences of qualification. If the General Partner were to fail to qualify as a REIT in any taxable year, it would have the following effects: 

•The General Partner would not be allowed a deduction for dividends distributed to shareholders and would be subject to federal corporate income tax (and any applicable state and local income taxes) on its taxable income at regular corporate income tax rates;

•Unless the General Partner was entitled to relief under certain statutory provisions, it would be disqualified from treatment as a REIT for the four taxable years following the year during which it ceased to qualify as a REIT;

•The General Partner's net earnings available for investment or distribution to its shareholders would decrease due to the additional tax liability for the year or years involved; and

•The General Partner would no longer be required to make any distributions to shareholders in order to qualify as a REIT.

As such, the General Partner's failure to qualify as a REIT would likely have a significant adverse effect on the value of the General Partner's securities and, consequently, the Partnership's Units.

REIT distribution requirements limit the amount of cash we have available for other business purposes, including amounts that we need to fund our future capital needs.

To maintain its qualification as a REIT under the Code, the General Partner must annually distribute to its shareholders at least 90% of its REIT taxable income, determined without regard to the dividends-paid deduction and excluding net capital gains. The General Partner intends to continue to make distributions to its shareholders to comply with the 90% distribution requirement. However, this requirement limits our ability to accumulate capital for use for other business purposes. If we do not have sufficient cash or other liquid assets to meet the distribution requirements of the General Partner, we may have to borrow funds or sell properties on adverse terms in order to meet the distribution requirements. If the General Partner fails to satisfy the distribution requirement, it would cease to qualify as a REIT.

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U.S. federal income tax treatment of REITs and investments in REITs may change in a manner that could adversely affect us or shareholders.

Legislative, regulatory or administrative changes could be enacted or promulgated at any time, either prospectively or with retroactive effect, and may adversely affect us and/or shareholders.

General Risk Factors

Our business and operations could suffer in the event of system failures or cyber security attacks.

Our systems are vulnerable to damages from any number of sources, including energy blackouts, natural disasters, terrorism, war, telecommunication failures and cyber security attacks, such as computer viruses, computer hacking, acts of vandalism or theft, malware or other malicious codes, ransomware, phishing, employee error or malfeasance, or other unauthorized access. In July 2021 we determined our computer network was affected by a cyber security incident, for which we conducted an investigation that is now closed. This incident did not result in any evidence of data belonging to us being misused and did not result in a material interruption to our business or operations, material costs or other adverse material consequences but any future system failure or accident that causes interruptions in our operations could result in a material disruption to our business. We may also incur additional costs to remedy damages caused by such disruptions. Any future significant compromise or breach of our data security, whether external or internal, or misuse of customer, associate, supplier or company data, could result in significant costs, lost sales, fines, lawsuits, and damage to our reputation. Any compromise of our security could also result in a violation of applicable privacy and other laws, unauthorized access to information of ours and others, significant legal and financial exposure, damage to our reputation, loss or misuse of the information and a loss of confidence in our security measures, which could harm our business.

We have programs in place to detect, contain and respond to data security incidents. However, the ever-evolving threats mean we and our third-party service providers and vendors must continually evaluate and adapt our respective systems and processes and overall security environment. Even the most well protected information, networks, systems and facilities remain potentially vulnerable when considering the rapid pace of change in this area. There can be no assurance that our efforts to maintain the security and integrity of our systems will be effective, or that we will be able to maintain our systems free from security breaches, system compromises, misuses of data, or other operational interruptions. Accordingly, we may be unable to prevent major security breaches or entirely mitigate the risk of other system interruptions or failures.

We could also be negatively impacted by similar disruptions to the operations of our vendors or outsourced service providers.

The General Partner's stock price and trading volume may be volatile, which could result in substantial losses to its shareholders and to the Partnership's unitholders, if and when they convert their Limited Partner Units to shares of the General Partner's common stock.

The market price of the General Partner's common stock could change in ways that may or may not be related to our business, our industry or our operating performance and financial condition. In addition, the trading volume in the General Partner's common stock may fluctuate and cause significant price variations to occur. Some of the factors that could negatively affect the General Partner's share price, or result in fluctuations in the price or trading volume of the General Partner's common stock, include uncertainty in the markets, general market and economic conditions, as well as those factors described in these "Risk Factors" and in other reports that we file with the SEC.

Many of these factors are beyond our control, and we cannot predict their potential effects on the price of the General Partner's common stock. If the market price of the General Partner's common stock declines, then its shareholders and the Partnership's unitholders, respectively, may be unable to resell their shares and units upon terms that are attractive to them. We cannot assure that the market price of the General Partner's common stock will not fluctuate or decline significantly in the future. In addition, the securities markets in general may experience considerable unexpected price and volume fluctuations.

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We are subject to certain provisions that could discourage change-of-control transactions, which may reduce the likelihood of the General Partner's shareholders receiving a control premium for their shares.

Indiana anti-takeover legislation and certain provisions in our governing documents, as we discuss below, may discourage potential acquirers from pursuing a change-of-control transaction with us. As a result, the General Partner's shareholders may be less likely to receive a control premium for their shares.

Ownership Restriction. Subject to certain exceptions, the General Partner's charter provides that no person or entity may beneficially own, or be deemed to own by virtue of the applicable constructive ownership provisions of the Code, more than 9.8% (in value or by number of shares, whichever is more restrictive) of the General Partner's outstanding common stock or 9.8% in value of its outstanding stock.

Unissued Preferred Stock. The General Partner's charter permits its board of directors to classify unissued preferred stock by setting the rights and preferences of the shares at the time of issuance. This power enables the General Partner's board to adopt a shareholder rights plan, also known as a poison pill. Although the General Partner has repealed its previously existing poison pill and its current board of directors has adopted a policy not to adopt a shareholder rights plan without shareholder approval, the General Partner's board can change this policy at any time. The adoption of a poison pill would discourage a potential bidder from acquiring a significant position in the General Partner without the approval of its board.

Business-Combination Provisions of Indiana Law. The General Partner has not opted out of the business-combination provisions of the Indiana Business Corporation Law. As a result, potential bidders may have to negotiate with the General Partner's board of directors before acquiring 10% of its stock. Without securing board approval of the proposed business combination before crossing the 10% ownership threshold, a bidder would not be permitted to complete a business combination for five years after becoming a 10% shareholder. Even after the five-year period, a business combination with the significant shareholder would either be required to meet certain per share price minimums as set forth in the Indiana Business Corporation Law or to receive the approval of a majority of the disinterested shareholders.

Control-Share-Acquisition Provisions of Indiana Law. The General Partner has not opted out of the provisions of the Indiana Business Corporation Law regarding acquisitions of control shares. Therefore, those who acquire a significant block (at least 20%) of the General Partner's shares may only vote a portion of their shares unless its other shareholders vote to accord full voting rights to the acquiring person. Moreover, if the other shareholders vote to give full voting rights with respect to the control shares and the acquiring person has acquired a majority of the General Partner's outstanding shares, the other shareholders would be entitled to special dissenters' rights.

Supermajority Voting Provisions. The General Partner's charter prohibits business combinations or significant disposition transactions with a holder of 10% of its shares unless: 

•The holders of 80% of the General Partner's outstanding shares of capital stock approve the transaction;

•The transaction has been approved by three-fourths of those directors who served on the General Partner's board before the shareholder became a 10% owner; or

•The significant shareholder complies with the "fair price" provisions of the General Partner's charter.

Among the transactions with large shareholders requiring the supermajority shareholder approval are dispositions of assets with a value greater than or equal to $1,000,000 and business combinations.

Operating Partnership Provisions. The limited partnership agreement of the Partnership contains provisions that could discourage change-of-control transactions, including a requirement that holders of at least 90% of the outstanding Common Units approve: 

•Any voluntary sale, exchange, merger, consolidation or other disposition of all or substantially all of the assets of the Partnership in one or more transactions other than a disposition occurring upon a financing or refinancing of the Partnership;

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•The General Partner's merger, consolidation or other business combination with another entity unless after the transaction substantially all of the assets of the surviving entity are contributed to the Partnership in exchange for Common Units;

•The General Partner's assignment of its interests in the Partnership other than to one of its wholly owned subsidiaries; and

•Any reclassification or recapitalization or change of outstanding shares of the General Partner's common stock other than certain changes in par value, stock splits, stock dividends or combinations.

We are dependent on key personnel.

The General Partner's executive officers and other senior officers have a significant role in the success of our Company. Our ability to retain our management group or to attract suitable replacements should any members of the management group leave our Company is dependent on the competitive nature of the employment market. The loss of services from key members of the management group or a limitation in their availability could adversely impact our financial condition and cash flow. Further, such a loss could be negatively perceived in the capital markets.

Item 1B.  Unresolved Staff Comments

We have no unresolved comments with the SEC staff regarding our periodic or current reports under the Exchange Act.

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Item 2.  Properties

Product Review

As of December 31, 2021, we own interests in 548 primarily industrial properties encompassing 162.7 million net rentable square feet (including 40 unconsolidated joint venture in-service properties with 12.9 million square feet, 29 consolidated properties under development with 8.5 million square feet and two unconsolidated joint venture properties under development with 1.2 million square feet).

Industrial Properties: We own interests in 545 industrial properties encompassing 162.4 million square feet (99.9% of our total square feet). These properties are primarily logistics facilities with clear ceiling heights of 28 feet or more.

Non-reportable: We own interests in three buildings, which are not industrial properties and are not presented within our reportable segments, totaling 211,000 square feet (0.1% of our total square feet).

See Consolidated Financial Statement Schedule III - Real Estate Properties and Accumulated Depreciation for a detailed listing of the Company’s properties and related encumbrances.

Land: We own, including through ownership interests in unconsolidated joint ventures (with acreage not adjusted for our percentage ownership interest), 431 acres of land and control an additional 925 acres through purchase options. All of the land that we directly own is intended to be used for the development of industrial properties and can support over 6.9 million square feet of industrial developments.

Property Descriptions

The following tables represent the geographic highlights of consolidated and unconsolidated joint venture in-service properties in our primary markets.

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Consolidated Properties

	Square Feet											Annual Net Effective Rent (1)		Annual Net Effective Rent per Square Foot (2)		Percent of Annual  Net Effective Rent
	Industrial			Non-Reportable			Overall			Percent of Overall
Primary Market
Southern California	16,586,113			—			16,586,113			11.8	%	$	125,697,500	$	7.58	15.8	%
New Jersey	8,555,906			—			8,555,906			6.1	%	90,344,759		10.56		11.4	%
South Florida	9,249,136			—			9,249,136			6.6	%	68,868,913		8.09		8.7	%
Chicago	13,853,198			—			13,853,198			9.9	%	64,512,452		4.66		8.1	%
Atlanta	13,299,470			—			13,299,470			9.5	%	56,346,766		4.25		7.1	%
Dallas	11,164,016			—			11,164,016			8.0	%	43,939,307		3.94		5.5	%
Cincinnati	9,114,047			91,843			9,205,890			6.5	%	38,375,871		4.20		4.8	%
Savannah	7,329,816			—			7,329,816			5.2	%	35,369,045		4.83		4.4	%
Indianapolis	9,345,171			—			9,345,171			6.7	%	35,217,401		3.77		4.4	%
Pennsylvania	5,685,384			—			5,685,384			4.1	%	31,994,324		5.63		4.0	%
Houston	5,824,310			—			5,824,310			4.2	%	29,107,288		5.15		3.7	%
Minneapolis-St. Paul	5,143,303			—			5,143,303			3.7	%	29,063,212		5.79		3.7	%
Central Florida	4,332,233			—			4,332,233			3.1	%	24,742,911		5.84		3.1	%
Seattle	3,709,836			—			3,709,836			2.6	%	23,984,257		7.53		3.0	%
Columbus	5,319,877			—			5,319,877			3.8	%	20,760,897		3.90		2.6	%
Nashville	3,645,266			—			3,645,266			2.6	%	20,620,521		6.54		2.6	%
Northern California	2,890,235			—			2,890,235			2.1	%	19,467,999		7.65		2.4	%
Raleigh	2,849,794			—			2,849,794			2.0	%	18,722,309		6.57		2.4	%
DC-Baltimore	1,918,738			—			1,918,738			1.4	%	15,446,846		8.23		1.9	%
Other (3)	—			119,030			119,030			0.1	%	3,487,188		29.30		0.4	%
Total	139,815,849			210,873			140,026,722			100.0	%	$	796,069,766	$	5.79	100.0	%
Percent of Overall	99.8		%	0.2		%	100.0		%
Annual Net Effective Rent per Square Foot (2)	$	5.77		$	22.55		$	5.79

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Unconsolidated Joint Venture Properties

	Square Feet					Annual Net Effective Rent (1)		Annual Net Effective Rent per Square Foot (2)		Percent of Annual  Net Effective Rent
	Industrial			Percent of Overall
Primary Market
Dallas	6,047,818			46.8	%	$	30,217,889	$	5.00	50.9	%
Indianapolis	4,056,398			31.4	%	14,524,969		3.82		24.5	%
DC-Baltimore	1,363,958			10.5	%	7,691,934		5.64		12.9	%
Chicago	954,720			7.4	%	4,822,609		5.05		8.1	%
Atlanta	301,200			2.3	%	1,263,298		4.19		2.1	%
Cincinnati	57,886			0.4	%	398,667		6.89		0.7	%
Other (3)	152,944			1.2	%	472,951		3.09		0.8	%
Total	12,934,924			100.0	%	$	59,392,317	$	4.68	100.0	%
Percent of Overall	100.0		%
Annual Net Effective Rent per Square Foot (2)	$	4.68

	Percent Leased
	Consolidated Properties						Unconsolidated Properties
	Industrial		Non-Reportable		Overall		Industrial		Overall
Primary Market
Southern California	100.0	%	—		100.0	%	—		—
New Jersey	100.0	%	—		100.0	%	—		—
South Florida	92.1	%	—		92.1	%	—		—
Chicago	100.0	%	—		100.0	%	100.0	%	100.0	%
Atlanta	99.7	%	—		99.7	%	100.0	%	100.0	%
Dallas	100.0	%	—		100.0	%	100.0	%	100.0	%
Cincinnati	99.4	%	85.9	%	99.3	%	100.0	%	100.0	%
Savannah	100.0	%	—		100.0	%	—		—
Indianapolis	100.0	%	—		100.0	%	93.7	%	93.7	%
Pennsylvania	100.0	%	—		100.0	%	—		—
Houston	97.1	%	—		97.1	%	—		—
Minneapolis-St. Paul	97.7	%	—		97.7	%	—		—
Central Florida	97.8	%	—		97.8	%	—		—
Seattle	85.8	%	—		85.8	%	—		—
Columbus	100.0	%	—		100.0	%	—		—
Nashville	86.5	%	—		86.5	%	—		—
Northern California	88.0	%	—		88.0	%	—		—
Raleigh	100.0	%	—		100.0	%	—		—
DC-Baltimore	97.8	%	—		97.8	%	100.0	%	100.0	%
Other (3)	—		100.0	%	100.0	%	100.0	%	100.0	%
Total	98.1	%	93.8	%	98.1	%	98.0	%	98.0	%

(1)Represents the average annual base rental payments, on a straight-line basis for the term of each lease, from space leased to tenants as of December 31, 2021, excluding amounts paid by tenants as reimbursement for operating expenses. Unconsolidated joint venture properties are shown at 100% of square feet and net effective rents, without regard to our ownership percentage.

(2)Annual net effective rent per leased square foot.

(3)Represents properties not located in our primary markets.

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Item 3.  Legal Proceedings

We are not subject to any pending legal proceedings, other than routine litigation arising in the ordinary course of business. We do not expect these legal proceedings to have a material adverse effect on our financial condition, results of operations, or liquidity.

Item 4.  Mine Safety Disclosures

Not applicable.

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PART II

Item 5.  Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market Information and Holders

The General Partner's common stock is listed for trading on the NYSE under the symbol "DRE." There is no established trading market for the Partnership's Common Units. As of February 16, 2022, there were 4,402 record holders of the General Partner's common stock and 73 record holders of the Partnership's Common Units. 

Stock Performance Graph

The following line graph compares the change in the General Partner's cumulative total shareholders' return on shares of its common stock to the cumulative total return of the Standard and Poor's 500 Stock Index ("S&P 500") and the FTSE NAREIT Equity REITs Index ("NAREIT Index") from December 31, 2016 to December 31, 2021. The graph assumes an initial investment of $100 in the common stock of the General Partner and each of the indices on December 31, 2016, and the reinvestment of all dividends. The performance graph is not necessarily indicative of future performance.

This graph and the accompanying text are not “soliciting material,” are not deemed filed with the SEC and are not to be incorporated by reference in any filing by the company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.

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Tax Characterization of Dividends

A summary of the tax characterization of the dividends paid per common share of the General Partner for the years ended December 31, 2021, 2020 and 2019 follows:

	2021			2020			2019
Total dividends paid per share	$	1.045		$	0.96		$	0.88
Ordinary income	91.5		%	74.6		%	80.7		%
Capital gains	8.5		%	25.4		%	19.3		%
	100.0		%	100.0		%	100.0		%

See Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources - Uses of Liquidity - Dividend and Distribution Requirements", below, for more information on our dividend policy.

Sales of Unregistered Securities

The General Partner did not sell any of its securities during the year ended December 31, 2021 that were not registered under the Securities Act.

Issuer Purchases of Equity Securities

From time to time, we may repurchase our securities under a repurchase program that initially was approved by the General Partner's board of directors and publicly announced in October 2001 (the "Repurchase Program").

During 2021 we did not repurchase any equity securities under the Repurchase Program.

On January 26, 2022 the General Partner's board of directors adopted a resolution that amended and restated the Repurchase Program and delegated authority to management to repurchase a maximum of $300.0 million of the General Partner's common shares, $750.0 million of the Partnership's debt securities and $500.0 million of the General Partner's preferred shares, subject to the prior notification of the Chairperson of the finance committee of the board of directors of planned repurchases within these limits.

Item 6.  Reserved    

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Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with the Consolidated Financial Statements included in Item 15. Exhibits and Financial Statement Schedules of this report and the matters described under Item 1A. Risk Factors.

A discussion regarding our financial condition and results of operations for 2021 compared to 2020 is under the Results of Operations section below. Our financial condition for 2019 and results of operations for 2020 compared to 2019 can be found under Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, which is incorporated herein by this reference to our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on February 19, 2021, and is available on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.dukerealty.com.

Business Overview

The General Partner and Partnership collectively specialize in the ownership, management and development of industrial real estate. The General Partner is a self-administered and self-managed REIT that began operations in 1986 and is the sole general partner of the Partnership. The Partnership is a limited partnership formed in 1993, at which time all of the properties and related assets and liabilities of the General Partner, as well as proceeds from a secondary offering of the General Partner's common shares, were contributed to the Partnership. Simultaneously, the Partnership completed the acquisition of Duke Associates, a full-service commercial real estate firm operating in the Midwest whose operations began in 1972. We operate the General Partner and the Partnership as one enterprise, and therefore, our discussion and analysis refers to the General Partner and its consolidated subsidiaries, including the Partnership, collectively.

Our business operations primarily consist of two reportable operating segments: rental operations of industrial properties and service operations. Rental operations of industrial properties represent the ownership and development of industrial properties and is the primary component of our revenues and earnings. Service operations generate additional revenues from providing various real estate services primarily relating to development, construction management and property management services to customers, unconsolidated joint ventures and third-party owners.

Nationwide demand for industrial properties continues to be strong in the current economic environment as the COVID-19 pandemic has accelerated both consumer acceptance of e-commerce and the requirements of many retailers to increase inventory levels. Our operational focus is to maintain occupancy at high levels and to focus on rental rate growth. The occupancy of our consolidated industrial portfolio increased to 98.1% at December 31, 2021 as compared to 97.4% at December 31, 2020. Our annualized net effective rents for both renewals and new second generation leases, on a combined basis, executed in 2021 for consolidated properties grew by 34.8% over the previous leases. In the current environment of rising rental rates for industrial properties in most of the markets in which we operate, we believe there is potential for continued future rental rate growth to the extent we are able to renew or backfill expiring leases and maintain high levels of occupancy.

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Year in Review

We finished 2021 in strong financial condition and recorded improved year-over-year operating results. Despite the challenges of the COVID-19 variants throughout the year, the United States economy recovered earlier than many economists predicted in 2021, highlighted by vaccine rollouts and business re-openings. As the year progressed, however, inflation in the United States reached the highest levels seen since 1982. The combination of supply chain disruptions induced by COVID-19, government spending and pent-up demand caused by shutdowns led to demand outpacing supply in a number of industries, including logistics real estate. Significant congestion in major ports, most notably the Ports of Los Angeles and Long Beach, and a generalized disruption throughout the nation's logistics network have also contributed to these recent levels of inflation.

These supply chain issues have also impacted our construction and development activities as lead times for materials lengthened significantly and construction prices on materials have increased significantly. In order to adapt to the disruptions in the global supply chain, many companies are attempting to increase inventory levels and accumulate safety stock. We continued to maintain high occupancy levels through 2021 and quickly lease a significant portion of our speculative development projects.

The COVID-19 pandemic's impact on the overall global economy is continuing and the ultimate impact cannot be predicted at this time. Please see Part I, Item 1A, "Risk Factors" for additional information about the potential impacts the pandemic may have on our business and results of operations.

Highlights of our 2021 strategic and operational activities are as follows: 

•We generated $1.07 billion of total net cash proceeds from the disposition of 30 consolidated properties and 283 acres of wholly owned undeveloped land during the year ended December 31, 2021. As part of the dispositions, four industrial buildings and two trailer storage lots were contributed to a 20% owned unconsolidated joint venture.

•We acquired eight industrial properties for $447.6 million during the year ended December 31, 2021.

•We acquired 536 acres of land and one container storage lot under long term lease for $700.6 million during the year ended December 31, 2021.

•We started new development projects with expected total costs of $1.39 billion, which included $41.9 million of expected total costs for development projects started within two unconsolidated joint ventures, at our ownership share. The development projects started in 2021 were, in aggregate, 43.2% leased at December 31, 2021.

•We placed 18 newly completed consolidated development projects in service, which totaled 7.7 million square feet with total costs of $957.7 million at December 31, 2021. One fully leased, 517,000 square foot property was sold shortly after completion. The remaining new developments were 88.1% leased at December 31, 2021.

•The estimated cost of our properties under construction at December 31, 2021, including costs for unconsolidated properties shown at our ownership share, totaled $1.42 billion, with $709.1 million of such costs already incurred. The total estimated cost for two unconsolidated joint venture properties under construction at December 31, 2021 was $41.9 million, with $16.0 million of such costs already incurred. The consolidated properties under construction were 47.3% pre-leased, while the unconsolidated joint venture property under construction was 50.3% pre-leased.

•Income from continuing operations before income taxes was $880.2 million and $297.5 million for the twelve months ended December 31, 2021 and 2020, respectively.

•Same-property net operating income, on a cash basis, as defined hereafter under "Supplemental Performance Measures", increased by 5.3% for the twelve months ended December 31, 2021, as compared to the twelve months ended December 31, 2020.

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•As the result of leasing up space in speculative developments throughout 2021, the percentage of total square feet leased for our in-service portfolio of consolidated properties increased from 97.4% at December 31, 2020 to 98.1% at December 31, 2021.

•Total leasing activity for our consolidated properties totaled 31.7 million square feet in 2021 compared to 25.5 million square feet in 2020.

•Total leasing activity for our consolidated and unconsolidated joint venture properties in 2021 included 12.6 million and 326,000, respectively, square feet of lease renewals (excludes early renewals and short term renewals), which represented 76.8% and 34.9%, respectively, retention rates on a square foot basis. New second generation and renewal leases, on a combined basis, executed for consolidated properties and unconsolidated joint venture properties during the year resulted in 34.8% and 46.7%, respectively, increases to net effective rents ("net effective rents" is defined hereafter in the "Key Performance Indicators" section) when compared to the previous leases of the same space.

We utilized the capital generated from dispositions during the year to reduce debt and to fund our acquisition and development activities. Highlights of our key financing activities are as follows:

•During 2021, the General Partner issued 8.2 million common shares under its at the market ("ATM") equity program, generating gross proceeds of $408.3 million and, after deducting commissions and other costs, net proceeds of $403.6 million.

•In January 2021, we issued $450.0 million of senior unsecured notes that bear interest at a stated interest rate of 1.75%, have an effective interest rate of 1.83% and mature on February 1, 2031, the proceeds for which were allocated to finance or refinance eligible green projects.

•In June 2021, we redeemed $83.7 million of senior unsecured notes bearing a stated interest rate of 3.88% and with a scheduled maturity in 2022. In connection with the early redemption of these notes, we recognized a loss of $3.9 million consisting of a prepayment premium and the write-off of unamortized deferred financing costs.

•In August 2021, we repaid $250.0 million of senior unsecured notes bearing a stated interest rate of 3.63% and with a scheduled maturity in 2023. In connection with the early redemption of these notes, we recognized a loss of $13.9 million consisting of a prepayment premium and the write-off of unamortized deferred financing costs.

•In November 2021, we issued $500.0 million of senior unsecured notes that bear interest at a stated interest rate of 2.25%, have an effective interest rate of 2.38% and mature on January 15, 2032, the proceeds for which will be allocated to finance or refinance eligible green projects.

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Supplemental Performance Measures

The following table shows a reconciliation of net income attributable to common shareholders or common unitholders to the calculation of funds from operations ("FFO") attributable to common shareholders or common unitholders for the years ended December 31, 2021, 2020 and 2019, respectively (in thousands):

	2021		2020		2019
Net income attributable to common shareholders of the General Partner	$	852,895	$	299,915	$	428,972
Add back: Net income attributable to noncontrolling interests - common limited partnership interests in the Partnership	8,354		2,663		3,678
Net income attributable to common unitholders of the Partnership	861,249		302,578		432,650
Adjustments:
Depreciation and amortization	362,148		353,013		327,223
Company share of unconsolidated joint venture depreciation and amortization	9,383		9,265		10,083
Partnership share of gains on property sales	(585,685)		(127,811)		(235,098)
Gains on land sales	(12,917)		(10,458)		(7,445)
Income tax expense (benefit) not allocable to FFO	18,549		(5,112)		8,686
Impairment charges	—		5,626		—
Gains on sales of real estate assets - share of unconsolidated joint ventures	(20,106)		(822)		(21,239)
FFO attributable to common unitholders of the Partnership (1)	$	632,621	$	526,279	$	514,860
Additional General Partner Adjustments:
Net income attributable to noncontrolling interests - common limited partnership interests in the Partnership	(8,354)		(2,663)		(3,678)
Noncontrolling interest share of adjustments	2,222		(1,979)		(702)
FFO attributable to common shareholders of the General Partner (1)	$	626,489	$	521,637	$	510,480

(1) FFO is a non-GAAP measure used in the real estate industry and is computed in accordance with standards established by the National Association of Real Estate Investment Trusts ("Nareit"). Nareit FFO is used by industry analysts and investors as a supplemental operating performance measure of a REIT. Nareit FFO is calculated as net income attributable to the common shareholders of the General Partner in accordance with GAAP excluding depreciation and amortization related to real estate, gains and losses on sales of real estate assets (including real estate assets incidental to our business), gains and losses from change in control, impairment charges related to real estate assets (including real estate assets incidental to our business) and similar adjustments for unconsolidated partnerships and joint ventures, all net of related taxes.

The most comparable GAAP measure to Nareit FFO is net income attributable to common shareholders or common unitholders.  Management believes it is a useful indicator of consolidated operating performance, which improves the understanding of operating results of REITs among the investing public, makes comparisons of REIT operating results more meaningful and enables investors and analysts to readily identify the operating results of the long-term assets that form the core of a REIT's activity.

Net income attributable to the common shareholders of the General Partner for the year ended December 31, 2021, was $852.9 million, compared to net income of $299.9 million for the year ended December 31, 2020. Net income attributable to the common unitholders of the Partnership for the year ended December 31, 2021, was $861.2 million, compared to net income of $302.6 million for the year ended December 31, 2020. The increase in net income in 2021 for the General Partner and the Partnership, when compared to 2020, was primarily the result of higher gains on property sales, rental rate growth and increased occupancy.

Nareit FFO attributable to common shareholders of the General Partner totaled $626.5 million for the year ended December 31, 2021, compared to $521.6 million for 2020. Nareit FFO attributable to common unitholders of the Partnership totaled $632.6 million for the year ended December 31, 2021, compared to $526.3 million for 2020. The increase to Nareit FFO from 2020 for the General Partner and the Partnership was primarily driven by improved occupancy, rental rate growth, new developments being placed into service and leased up, and lower loss on debt extinguishment.

In addition to Nareit FFO we use (i) Property Level Net Operating Income - Cash Basis ("PNOI") and (ii) Same-Property Net Operating Income - Cash Basis ("SPNOI") as supplemental non-GAAP performance measures. Management believes that the use of PNOI and SPNOI combined with net income (which remains the primary measure of performance), improves the understanding of operating results of REITs among the investing public and

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makes comparisons of REIT operating results more meaningful. The most comparable GAAP measure to PNOI and SPNOI is income from continuing operations before income taxes.

PNOI and SPNOI each exclude expenses that materially impact our overall results of operations and, therefore, should not be considered as a substitute for income from continuing operations before income taxes, or any other measures derived in accordance with GAAP. Furthermore, these metrics may not be comparable to other similarly titled measures of other companies.

Property Level Net Operating Income - Cash Basis

PNOI is comprised of rental revenues from continuing operations less rental expenses and real estate taxes from continuing operations, along with certain other adjusting items. As a performance metric that consists of only the cash-based revenues and expenses directly related to ongoing real estate rental operations, PNOI is narrower in scope than Nareit FFO.

PNOI, as we calculate it, may not be directly comparable to similarly titled, but differently calculated, measures for other REITs. We believe that PNOI is another useful supplemental performance measure, as it is an input in many REIT valuation models and it provides a means by which to evaluate the performance of the properties within our Rental Operations segments. The operations of our industrial properties, as well as our non-reportable Rental Operations (our residual non-industrial properties that have not yet been sold, referred to throughout as "non-reportable"), are collectively referred to as "Rental Operations."

The major factors influencing PNOI are occupancy levels, acquisitions and sales, development properties that achieve stabilized operations, rental rate increases or decreases, and the recoverability of operating expenses.

Note 9 to the consolidated financial statements included in Part IV, Item 15 of this Report shows a calculation of our PNOI for the years ended December 31, 2021, 2020 and 2019 and provides a reconciliation of PNOI for our Rental Operations segments to income from continuing operations before income taxes.

Same-Property Net Operating Income - Cash Basis

We also evaluate the performance of our properties, including our share of properties we jointly control, on a "same-property" basis, using a metric referred to as SPNOI. We view SPNOI as a useful supplemental performance measure because it improves comparability between periods by eliminating the effects of changes in the composition of our portfolio.

On an individual property basis, SPNOI is generally computed in a consistent manner as PNOI.

We define our "same-property" population once a year at the beginning of the current calendar year and include buildings that were stabilized (the term "stabilized" means properties that have reached 90% leased or that have been in-service for at least one year since development completion or acquisition) as of January 1 of the prior calendar year. The "same-property" pool is also adjusted to remove properties that were sold subsequent to the beginning of the current calendar year. As such, the "same-property" population for the period ended December 31, 2021 includes all properties that we owned or jointly controlled at January 1, 2021, which had both been owned or jointly controlled and had reached stabilization by January 1, 2020, and have not been sold.

A reconciliation of income from continuing operations before income taxes to SPNOI is presented as follows (in thousands, except percentage data):

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	Three Months Ended December 31,				Percent		Twelve Months Ended December 31,				Percent
	2021		2020		Change		2021		2020		Change
Income from continuing operations before income taxes	$	107,305	$	166,418			$	880,167	$	297,537
Share of SPNOI from unconsolidated joint ventures	5,627		5,582				22,505		21,880
PNOI excluded from the "same-property" population	(30,619)		(13,508)				(95,678)		(31,005)
Earnings from Service Operations	(2,327)		(1,218)				(12,142)		(6,028)
Rental Operations revenues and expenses excluded from PNOI	(11,192)		(26,254)				(66,902)		(85,813)
Non-Segment Items	94,482		24,133				(88,940)		410,541
SPNOI	$	163,276	$	155,153	5.2	%	$	639,010	$	607,112	5.3	%

The composition of the line items titled "Rental Operations revenues and expenses excluded from PNOI" and "Non-Segment Items" from the table above are shown in greater detail in Note 9 to the consolidated financial statements included in Part IV, Item 15 of this Report.

We believe that the factors that impact SPNOI are generally the same as those that impact PNOI. The following table details the number of properties, square feet, average commencement occupancy and average cash rental rate for the properties included in SPNOI for the respective periods:

	Three Months Ended December 31,		Twelve Months Ended December 31,
	2021	2020	2021	2020
Number of properties	457	457	457	457
Square feet (in thousands) (1)	125,862	125,862	125,862	125,862
Average commencement occupancy percentage (2)	98.5%	98.4%	98.0%	98.1%
Average rental rate - cash basis (3)	$5.16	$4.99	$5.11	$4.93
(1) Includes the total square feet of the consolidated properties that are in the "same-property" population as well as 5.4 million square feet of space for unconsolidated joint ventures, which represents our ratable share of the 12.4 million total square feet of space for buildings owned by unconsolidated joint ventures that are in the "same-property" population.
(2) Commencement occupancy represents the percentage of total square feet where the leases have commenced.
(3) Represents the average annualized contractual rent per square foot for the three and twelve months ended December 31, 2021 and 2020 for tenants in occupancy in properties in the "same-property" population. Cash rent does not include the tenant's obligation to pay property operating expenses and real estate taxes. If a tenant was within a free rent period, its rent would equal zero for purposes of this metric.

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Key Performance Indicators

Our operating results depend primarily upon rental income from our Rental Operations. The following discussion highlights the metrics that drive the performance of our Rental Operations, which management uses to operate the business, and that we consider to be critical drivers of future revenues.

Occupancy Analysis

Occupancy is an important metric for management and our investors for understanding our financial performance. Our ability to maintain high occupancy rates is among the principal drivers of maintaining and increasing rental revenue. The following table sets forth percent leased and average net effective rent information regarding our in-service portfolio of rental properties at December 31, 2021 and 2020, respectively:

	Total Square Feet (in thousands)		Percent of Total Square Feet				Percent Leased*				Average Annual Net Effective Rent**
Type	2021	2020	2021		2020		2021		2020		2021	2020
Industrial	139,816	140,511	99.8	%	99.9	%	98.1	%	97.4	%	$5.77	$5.30
Non-reportable Rental Operations	211	211	0.2	%	0.1	%	93.8	%	96.8	%	$22.55	$22.31
Total Consolidated	140,027	140,722	100.0	%	100.0	%	98.1	%	97.4	%	$5.79	$5.32
Unconsolidated Joint Ventures	12,935	11,467					98.0	%	98.7	%	$4.68	$4.32
Total Including Unconsolidated Joint Ventures	152,962	152,189					98.1	%	97.5	%
* Represents the percentage of total square feet leased based on executed leases and without regard to whether the leases have commenced.
** Average annual net effective rent represents average annual base rental payments per leased square foot, on a straight-line basis for the term of each lease, from space leased to tenants at the end of the most recent reporting period. This amount excludes additional amounts paid by tenants as reimbursement for operating expenses.

The increase in occupancy at December 31, 2021 within our industrial portfolio, when compared to December 31, 2020, primarily resulted from leasing up recently delivered speculative developments while renewing or backfilling existing leases to maintain the occupancy level within our existing base of properties.

Vacancy Activity

The following table sets forth vacancy activity, shown in square feet, from our in-service rental properties for the year ended December 31, 2021 (in thousands):

	Consolidated Properties	Unconsolidated Joint Venture Properties	Total Including Unconsolidated Joint Venture Properties
Vacant square feet at December 31, 2020	3,716	150	3,866
Vacant space in completed developments	1,248	—	1,248
Expirations	6,041	667	6,708
Early lease terminations	197	87	284
Property structural changes/other	(360)	—	(360)
Leasing of previously vacant space	(8,216)	(647)	(8,863)
Vacant square feet at December 31, 2021	2,626	257	2,883

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Total Leasing Activity

Our ability to maintain and improve occupancy and net effective rents primarily depends upon our continuing ability to lease vacant space. The volume and quality of our leasing activity is closely scrutinized by management in operation of the business and provides useful information regarding future performance. The initial leasing of development projects or vacant space in acquired properties is referred to as first generation lease activity. The leasing of such space that we have previously held under lease to a tenant is referred to as second generation lease activity. Second generation lease activity may be in the form of renewals of existing leases or new leases of previously leased space. The total leasing activity for our consolidated and unconsolidated industrial rental properties, expressed in square feet of leases signed, is as follows for the years ended December 31, 2021 and 2020 (in thousands):

	2021	2020
New Leasing Activity - First Generation	7,058	7,917
New Leasing Activity - Second Generation	6,313	4,797
Renewal Leasing Activity	12,581	6,147
Early Renewal Leasing Activity *	2,841	2,671
Short-Term New Leasing Activity **	582	1,889
Short-Term Renewal Leasing Activity **	2,313	2,077
Non-Reportable Rental Operations Leasing Activity	1	36
Total Consolidated Leasing Activity	31,689	25,534
Unconsolidated Joint Venture Leasing Activity	1,823	3,154
Total Including Unconsolidated Joint Venture Leasing Activity	33,512	28,688
* Early renewals represent renewals executed more than two years in advance of a lease's originally scheduled end date.
** Short-term leases represent leases with a term of less than twelve months.

Second Generation Leases

The following table sets forth the estimated costs of tenant improvements and leasing costs, on a per square foot basis, that we are obligated to fulfill under the second generation industrial leases signed for our rental properties, during the years ended December 31, 2021 and 2020:

	Square Feet of Leases (in thousands)		Percent of Expiring Leases Renewed				Average Term in Years		Estimated Tenant Improvement Cost per Square Foot				Leasing Commissions per Square Foot				Leasing Concessions per Square Foot
	2021	2020	2021		2020		2021	2020	2021		2020		2021		2020		2021		2020
Consolidated - New Second Generation	6,313	4,797					5.9	5.4	$	2.07	$	1.79	$	2.59	$	2.87	$	0.11	$	0.05
Unconsolidated Joint Ventures - New Second Generation	577	527					7.1	3.3	$	3.78	$	1.56	$	2.87	$	1.12	$	0.03	$	—
Total - New Second Generation	6,890	5,324					6.0	5.2	$	2.21	$	1.92	$	2.61	$	2.73	$	0.10	$	0.04
Consolidated - Renewal	12,581	6,147	76.8	%	65.6	%	5.8	4.6	$	0.81	$	0.99	$	1.54	$	1.50	$	0.20	$	0.03
Unconsolidated Joint Ventures - Renewal	326	1,142	34.9	%	86.8	%	7.4	4.7	$	1.64	$	0.93	$	2.84	$	1.53	$	—	$	—
Total - Renewal	12,907	7,289	74.5	%	69.5	%	5.8	4.6	$	0.84	$	0.98	$	1.58	$	1.50	$	0.20	$	0.03

Growth in average annual net effective rents for new second generation and renewal leases, on a combined basis, for our consolidated and unconsolidated industrial rental properties, is as follows for the years ended December 31:

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	2021		2020
Ownership Type
Consolidated properties	34.8	%	28.2	%
Unconsolidated joint venture properties	46.7	%	33.8	%

Lease Expirations

The table below reflects our consolidated in-service portfolio lease expiration schedule at December 31, 2021 (in thousands, except percentage data and number of leases):

	Total Consolidated Portfolio					Industrial				Non-Reportable
Year of Expiration	Square Feet		Annual Rental Revenue*		Number of Leases	Square Feet		Annual Rental Revenue*		Square Feet		Annual Rental Revenue*
2022	9,063		$	40,799	99	9,046		$	40,607	17		$	192
2023	14,968		75,664		147	14,947		75,372		21		292
2024	14,536		78,307		154	14,529		78,225		7		82
2025	15,401		86,168		144	15,399		86,143		2		25
2026	17,193		90,196		142	17,181		90,047		12		149
2027	16,046		84,248		73	16,041		84,191		5		57
2028	11,068		74,015		53	10,949		70,528		119		3,487
2029	9,208		48,671		33	9,208		48,671		—		—
2030	7,411		47,832		34	7,411		47,832		—		—
2031	6,262		47,406		23	6,247		47,229		15		177
2032 and Thereafter	16,244		122,764		46	16,244		122,764		—		—
Total Leased	137,400		$	796,070	948	137,202		$	791,609	198		$	4,461
Total Portfolio Square Feet	140,027					139,816				211
Percent Leased	98.1	%				98.1	%			93.8	%
* Annualized rental revenue represents average annual base rental payments, on a straight-line basis for the term of each lease, from space leased to tenants at the end of the most recent reporting period. Annualized rental revenue excludes additional amounts paid by tenants as reimbursement for operating expenses.

Property Acquisitions

Our decision process in determining whether or not to acquire a property or portfolio of properties involves several factors, including expected rent growth, multiple yield metrics, property locations and expected demographic growth in each location, current occupancy of the properties, tenant profile and remaining terms of the in-place leases in the properties. It is difficult to predict which markets may present acquisition opportunities that align with our strategy. Because of the numerous factors considered in our acquisition decisions, we do not establish specific target yields for future acquisitions.

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We acquired nine in-service buildings, including one property received through an asset distribution from an unconsolidated joint venture, and one container storage lot under long-term lease during the year ended December 31, 2021 and ten buildings during the year ended December 31, 2020. The following table summarizes the acquisition price, percent leased at time of acquisition and in-place yields of property acquisitions (in thousands, except percentage data):

	2021 Acquisitions						2020 Acquisitions
Type	Fair Value of Acquired Assets*		In-Place Yield (Mark to Market)**		Percent Leased at Acquisition Date***		Fair Value of Acquired Assets*		In-Place Yield (Mark to Market)**		Percent Leased at Acquisition Date***
Industrial	$	609,241	4.4	%	100.0	%	$	424,941	3.5	%	80.6	%
* Includes fair value of real estate assets and acquired in-place lease intangible assets.
** In-place yields of completed acquisitions are calculated as the current annualized net rental payments from space leased to tenants at the date of acquisition, including the amortization of above or below market leases, less current annualized operating expenses not recovered through tenant reimbursements, divided by the fair value of the acquired real estate assets.
*** Represents percentage of total square feet leased based on executed leases and without regard to whether the leases have commenced, at the date of acquisition, including lease-backs with sellers executed in connection with the acquisition(s).

Building Dispositions

We dispose of properties on a basis that is generally consistent with our strategic plans. Our ability to dispose of properties, from time to time, on favorable terms is a key performance indicator from the perspective of management, as a source of capital to fund future investment. We believe that evaluating our disposition activity is also useful to investors.

We sold 30 consolidated properties including two trailer storage lots during the year ended December 31, 2021 and seven consolidated properties during the year ended December 31, 2020. The following table summarizes the sales prices, in-place yields and percent leased of industrial properties dispositions (in thousands, except percentage data):

	2021 Dispositions						2020 Dispositions
Type	Sales Price		In-Place Yield*		Percent Leased**		Sales Price		In-Place Yield*		Percent Leased**
Industrial	$	1,069,120	4.6	%	100.0	%	$	321,800	3.8	%	77.5	%
* In-place yields of completed dispositions are calculated as annualized net operating income from space leased to tenants at the date of sale on a lease-up basis, including full rent from all executed leases, even if currently in a free rent period, divided by the sales price. Annualized net operating income is comprised of base rental payments, excluding reimbursement of operating expenses, less current annualized operating expenses not recovered through tenant reimbursements.
** Represents percentage of total square feet leased based on executed leases and without regard to whether the leases have commenced, at the date of sale.

Development

We expect to generate future earnings from Rental Operations as development properties are placed in service and leased. Development activities, and our ability to lease those developments, are viewed by management as key indicators of future earnings growth and provide useful information to investors for the same reasons.

We had 9.7 million square feet of properties under development with total estimated costs upon completion of $1.42 billion at December 31, 2021 compared to 7.4 million square feet with total estimated costs upon completion of $1.07 billion at December 31, 2020. The square footage includes both consolidated properties and unconsolidated joint venture development activity at 100% while estimated costs include consolidated properties and unconsolidated joint venture development activity at our 50% ownership share.

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The following table summarizes our properties under development at December 31, 2021 (in thousands, except percentage data and number of buildings): 

Ownership Type	Number of Buildings	Square Feet	Percent Leased		Total Estimated Project Costs		Total Incurred to Date		Amount Remaining to be Spent
Consolidated properties	29	8,538	47.3	%	$	1,378,289	$	693,116	$	685,173
Unconsolidated joint venture properties	2	1,157	50.3	%	41,911		15,967		25,944
Total	31	9,695	47.7	%	$	1,420,200	$	709,083	$	711,117

Results of Operations

A summary of our operating results and property statistics for each of the years in the three-year period ended December 31, 2021, is as follows (in thousands, except number of properties):

	2021		2020		2019
Rental and related revenue from continuing operations	$	1,025,663	$	929,194	$	855,833
General contractor and service fee revenue	80,260		64,004		117,926
Operating income	975,238		417,846		524,761
General Partner
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972
Partnership
Net income attributable to common unitholders	$	861,249	$	302,578	$	432,650
Number of in-service consolidated properties at end of year	477		480		459
In-service consolidated square footage at end of year	140,027		140,722		135,451
Number of in-service unconsolidated joint venture properties at end of year	40		40		38
In-service unconsolidated joint venture square footage at end of year	12,935		11,467		10,976

Comparison of Year Ended December 31, 2021 to Year Ended December 31, 2020

Rental and Related Revenue

The following table sets forth rental and related revenue from continuing operations (in thousands):

	2021		2020
Rental and related revenue:
Industrial	$	1,019,342	$	921,612
Non-reportable Rental Operations and non-segment revenues	6,321		7,582
Total rental and related revenue from continuing operations	$	1,025,663	$	929,194

The primary reasons for the increase in rental and related revenue from continuing operations were:

•We acquired 20 properties and placed 36 developments in service from January 1, 2020 to December 31, 2021, which provided incremental revenues from continuing operations of $94.2 million during the year ended December 31, 2021 as compared to the same period in 2020.

•Rental and related revenue from our "same-property" portfolio increased by $38.0 million during the twelve months ended December 31, 2021, as compared to the same period in 2020. These increased revenues were primarily driven by rental rate growth.

•The sale of 37 in-service properties since January 1, 2020, which did not meet the criteria to be classified within discontinued operations, resulted in a decrease of $36.1 million to rental and related revenue from continuing operations during the year ended December 31, 2021, as compared to the same period in 2020,

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which partially offset the aforementioned increases to rental and related revenue from continuing operations.

Rental Expenses and Real Estate Taxes

The following table sets forth rental expenses and real estate taxes from continuing operations (in thousands): 

	2021		2020
Rental expenses:
Industrial	$	85,297	$	75,345
Non-reportable Rental Operations and non-segment expenses	485		1,294
Total rental expenses from continuing operations	$	85,782	$	76,639
Real estate taxes:
Industrial	$	159,171	$	148,252
Non-reportable Rental Operations and non-segment expenses	409		1,043
Total real estate tax expense from continuing operations	$	159,580	$	149,295

Overall, rental expenses from continuing operations increased by $9.1 million in 2021 compared to 2020. The increase to rental expenses was primarily due to higher snow removal costs compared to the same period in 2020.

Overall, real estate tax expense from continuing operations increased by $10.3 million in 2021 compared to 2020. The increase to real estate tax expenses was mainly due to higher real estate tax assessments in certain of our markets and the result of acquisitions and developments placed in service from January 1, 2020 to December 31, 2021, which have generally been concentrated in markets with higher tax rates and/or assessed values. These increases were partially offset by the impact of property sales that did not meet the criteria to be classified within discontinued operations.

Service Operations

The following table sets forth the components of net earnings from the Service Operations reportable segment for the years ended December 31, 2021 and 2020, respectively (in thousands): 

	2021		2020
Service Operations:
General contractor and service fee revenue	$	80,260	$	64,004
General contractor and other services expenses	(68,118)		(57,976)
Net earnings from Service Operations	$	12,142	$	6,028

Service Operations primarily consist of the development, construction management and general contractor services, leasing, property management and asset management for unconsolidated joint venture properties and properties owned by third parties. Service Operations are heavily influenced by the current state of the economy, as construction and development services rely on the expansion of business operations of third-party property owners and joint venture partners, while leasing and property management fees are dependent upon occupancy.

Net earnings from service operations increased as the result of higher fee-based third party construction activity during 2021 compared to 2020.

Depreciation and Amortization

Depreciation and amortization expense from continuing operations was $362.1 million and $353.0 million for the years ended December 31, 2021 and 2020, respectively. The increase in depreciation and amortization expense for the year ended December 31, 2021 was primarily the result of continued growth in our portfolio through development and acquisitions placed in service from January 1, 2020 to December 31, 2021, partially offset by the impact of property sales that did not meet the criteria to be classified within discontinued operations.

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Equity in Earnings of Unconsolidated Joint Ventures

Equity in earnings of unconsolidated joint ventures represents our ownership share of net income from investments in unconsolidated joint ventures that generally own and operate rental properties. Equity in earnings of unconsolidated joint ventures was $32.8 million and $11.9 million for the years ended December 31, 2021 and 2020, respectively. In 2021, we recognized $10.6 million of equity in earnings of unconsolidated joint ventures related to gains on the distribution of joint venture assets to our partner in two unconsolidated joint ventures made in connection with a plan of dissolution (see Note 5 to the consolidated financial statements). We also recognized $10.0 million of equity in earnings related to our share of gains on the sale of properties to unrelated parties by unconsolidated joint ventures during 2021.

There were no property sales by unconsolidated joint ventures during 2020.

Gain on Sale of Properties - Continuing Operations

We sold 30 properties during 2021 that were classified in continuing operations, recognizing total gains on sale of $585.7 million. These properties did not meet the criteria for inclusion in discontinued operations.

We sold seven properties during 2020 that were classified in continuing operations, recognizing total gains on sale of $127.7 million. These properties did not meet the criteria for inclusion in discontinued operations.

Gain on Sale of Land

Gains on sale of land totaled $12.9 million and $10.5 million for the years ended December 31, 2021 and 2020, respectively. We sold 283 acres of undeveloped land in 2021 compared to 157 acres of undeveloped land in 2020.

Impairment Charges

We did not recognize any impairment charges in 2021.

We recognized $5.6 million of impairment charges during the first quarter of 2020, related to writing off pre-acquisition costs, primarily non-refundable purchase deposits, for certain planned purchases of undeveloped land that we elected not to pursue due to the uncertain economic outlook at the onset of the COVID-19 pandemic.

General and Administrative Expenses

General and administrative expenses consist of two components. The first component includes general corporate expenses, and the second component represents the indirect operating costs not allocated to, or absorbed by, either the development, leasing and operation of our consolidated properties or our Service Operations. Such indirect operating costs are primarily comprised of employee compensation, including related costs such as benefits and wage-related taxes, but also include other ancillary costs such as travel and information technology support. Total indirect operating costs, prior to any allocation or absorption, and general corporate expenses are collectively referred to as our overall pool of overhead costs.

Those indirect costs not allocated to or absorbed by these operations are charged to general and administrative expenses. We regularly review our total overhead cost structure relative to our leasing, development and construction volume and adjust the level of total overhead, generally through changes in our level of staffing in various functional departments, as necessary, in order to control overall general and administrative expenses.

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General and administrative expenses were $69.6 million and $62.4 million for the years ended December 31, 2021 and 2020, respectively. The following table sets forth the factors that led to the increase in general and administrative expenses from 2020 to 2021 (in millions):

General and administrative expenses - 2020	$	62.4
Increase to overall pool of overhead costs	12.4
Decrease in overhead restructuring charges (1)	(1.0)
Impact of increased allocation of costs to leasing and development activities (2)	(2.3)
Increased allocation of costs to Service Operations and Rental Operations (3)	(1.9)
General and administrative expenses - 2021	$	69.6

(1) We recognized approximately $3.5 million of overhead restructuring costs, primarily related to reorganizing our construction business during the year ended December 31, 2021, compared to $4.5 million of overhead restructuring charges during the year ended December 31, 2020.

(2) We capitalized $7.9 million and $28.6 million of our total overhead costs to leasing and development, respectively, for consolidated properties during 2021, compared to capitalizing $6.5 million and $28.8 million of such costs, respectively, for 2020. Non-capitalizable leasing costs were $13.3 million and $12.3 million for the years ended December 31, 2021 and 2020 (these costs are presented separately in the line item "Non-Incremental Costs Related to Successful Leases" on the Consolidated Statements of Operations). Combined overhead costs capitalized to leasing and development totaled 25.2% and 26.7% of our overall pool of overhead costs for 2021 and 2020, respectively.

(3) The increase in allocation of costs to Service Operations and Rental Operations resulted from a higher volume of third-party construction projects during 2021.

Interest Expense

Interest expense from continuing operations was $84.8 million and $93.4 million for the years ended December 31, 2021 and 2020, respectively. The decrease in interest expense from continuing operations for the year ended December 31, 2021 was primarily due to lower average interest rates resulting from refinancing unsecured notes and higher capitalization of interest expense, partially offset by increased overall borrowings.

We capitalized $35.0 million and $24.3 million of interest costs during 2021 and 2020, respectively.

Debt Extinguishment

In January 2021, the Partnership assumed and immediately repaid $40.2 million of unsecured debt related to the dissolution of two unconsolidated joint ventures (see Note 5 to the consolidated financial statements).

In June 2021, the Partnership redeemed $83.7 million of its remaining 3.88% unsecured notes due October 2022. A loss of $3.9 million was recognized in connection with the redemption of these notes including the prepayment premium and write-off of the unamortized deferred financing costs.

In August 2021, the Partnership redeemed $250.0 million of its unsecured notes due April 2023, which had a stated interest rate of 3.63%. A loss of $13.9 million was recognized in connection with the redemption of these notes including the prepayment premium and write-off of the unamortized deferred financing costs.

During 2020, the Partnership redeemed $300.0 million of unsecured notes with a stated interest rate of 4.38% and repurchased and canceled $216.3 million of unsecured notes with a stated interest rate of 3.88% pursuant to a tender offer completed by the Partnership. In connection with the redemption and repurchase of these unsecured notes, we recognized a total loss of $32.9 million including the redemption/repayment premium and write-off of the unamortized deferred financing costs.

Critical Accounting Estimates

The preparation of our consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Certain estimates, judgments and assumptions are inherently subjective and based on the existing

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business and market conditions, and are therefore continually evaluated based upon available information and experience. Based on the nature of our business, current economic conditions and the value of our real estate assets, we have concluded that our financial statements for all periods presented have not been materially impacted by individual accounts or classes of transaction that rely on estimates. Further, we have concluded that our financial statements for all periods presented are not materially impacted by estimates of fair value that rely upon non-observable inputs.

We have determined that judgments regarding the impairment of real estate assets represent a critical accounting estimate that has the potential to be material in future periods and has been material in certain periods prior to those presented in this Form 10-K. As the result of the strong demand, and generally appreciating values, for industrial real estate assets, we have not recognized any material impairment charges in any of the periods presented in our consolidated financial statements. As described below in our description of Critical Accounting Policies, determining whether a triggering event has taken place requires an evaluation of assumptions including occupancy levels, rental rates, capitalization rates and anticipated holding periods when evaluating real estate assets for potential impairment. We do not believe that the conclusions we reached regarding the assessment of our real estate assets for impairment, in the current economic and operating environment, would result in a materially different conclusion within any reasonable range of assumptions that could have been applied. Should economic conditions worsen, and the values of industrial assets decline in future periods, then the assumptions and estimates we may make in future impairment analyses, and potential future measurement of impairment charges, could be sensitive and could result in a material change in the range of potential outcomes.

Critical Accounting Policies

Note 2 to the Consolidated Financial Statements includes further discussion of our significant accounting policies. Our management has assessed the accounting policies used in the preparation of our financial statements and discussed them with our audit committee and independent auditors. The following accounting policies are considered critical based upon materiality to the financial statements, and to a lesser extent, the degree of judgment involved in estimating reported amounts and sensitivity to changes in industry and economic conditions:

Impairment of Real Estate Assets: We evaluate our real estate assets, with the exception of those that are classified as held-for-sale, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If such an evaluation is considered necessary, we compare the carrying amount of that real estate asset, or asset group, with the expected undiscounted cash flows that are directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of that asset, or asset group. Our estimate of the expected future cash flows used in testing for impairment is based on, among other things, our estimates regarding future market conditions, rental rates, occupancy levels, costs of tenant improvements, leasing commissions and other tenant concessions, assumptions regarding the residual value of our properties at the end of our anticipated holding period and the length of our anticipated holding period and is, therefore, subjective by nature. These assumptions could differ materially from actual results. If our strategy changes or if market conditions otherwise dictate a reduction in the holding period and an earlier sale date, an impairment loss could be recognized and such loss could be material. To the extent the carrying amount of a real estate asset, or asset group, exceeds the associated estimate of undiscounted cash flows, an impairment loss is recorded to reduce the carrying value of the asset to its fair value.

The determination of the fair value of real estate assets is also highly subjective, especially in markets where there is a lack of recent comparable transactions. We primarily utilize the income approach to estimate the fair value of our income producing real estate assets. To the extent that the assumptions used in testing long-lived assets for impairment differ from those of a marketplace participant, the assumptions are modified in order to estimate the fair value of a real estate asset when an impairment charge is measured. In addition to determining future cash flows, which make the estimation of a real estate asset's undiscounted cash flows highly subjective, the selection of the discount rate and exit capitalization rate used in applying the income approach is also highly subjective.

To the extent applicable marketplace data is available, we generally use the market approach in estimating the fair value of undeveloped land that is determined to be impaired.

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Real estate assets that are classified as held-for-sale are reported at the lower of their carrying value or their fair value, less estimated costs to sell.

Acquisition of Real Estate Property and Related Assets: We generally account for real estate acquisitions as asset acquisitions as opposed to business combinations. We allocate the purchase price of acquired properties to tangible and identified intangible assets based on their relative fair values, using all pertinent information available at the date of acquisition. The allocation of the purchase price to tangible assets (buildings, tenant improvements and land) is based upon management's determination of the value of the property as if it were vacant. This “as-if vacant” value is estimated using an income, or discounted cash flow, approach that relies upon internally determined assumptions that we believe are consistent with current market conditions for similar properties. The most important assumptions in determining the allocation of the purchase price to tangible assets are the exit capitalization rate, estimated market rents and the fair value of the underlying land.

The purchase price of real estate assets is also allocated to intangible assets consisting of the above or below market component of in-place leases and the value of in-place leases. The value allocable to the above or below market component of an acquired in-place lease is determined based upon the present value (using a discount rate which reflects the risks associated with the acquired leases) of the difference between (i) the contractual amounts to be received pursuant to the lease over its remaining term and (ii) management's estimate of the amounts that would be received using fair market rates over the remaining term of the lease. The amounts allocated to above market leases are included in deferred leasing and other costs in the balance sheet and below market leases are included in other liabilities in the balance sheet; both are amortized to rental income over the remaining terms of the respective leases. Factors considered in determining the value allocable to in-place leases include estimates, during hypothetical lease up periods, related to space that is actually leased at the time of acquisition. These estimates include (i) lost rent at market rates, (ii) fixed operating costs that will be recovered from tenants and (iii) theoretical leasing commissions required to execute similar leases. These intangible assets are included in deferred leasing and other costs in the balance sheet and are amortized over the remaining term of the existing lease.

The audit committee has reviewed the critical accounting policies identified by management.

Liquidity and Capital Resources

Overview

We expect to meet our short-term liquidity requirements over the next 12 months, which include payments of dividends and distributions, completion of development projects that are currently under construction and capital expenditures needed to maintain our current real estate assets, through working capital, net cash provided by operating activities and short term borrowings on the Partnership's unsecured line of credit. We had no outstanding borrowings on the Partnership's $1.20 billion unsecured line of credit and had $69.8 million of cash on hand at December 31, 2021.

In addition to our existing sources of liquidity, we expect to meet long-term liquidity requirements, such as scheduled mortgage and unsecured debt maturities, financing of development activities, acquisitions and other capital improvements, through multiple sources of capital including operating cash flow, proceeds from property dispositions and accessing the public debt and equity markets.

Sources of Liquidity

Rental Operations

Cash flows from Rental Operations is our primary source of liquidity and provides a stable source of cash flow to fund operational expenses. We believe that this cash-based revenue stream is substantially aligned with revenue recognition (except for items such as periodic straight-line rental income accruals and amortization of above or below market rents) as cash receipts from the leasing of rental properties are generally received in advance of, or a short time following, the actual revenue recognition.

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We are subject to a number of risks related to general economic conditions, including reduced occupancy, tenant defaults and bankruptcies and potential reduction in rental rates upon renewal or re-letting of properties, any of which would result in reduced cash flow from operations.

Debt and Equity Securities

Our unsecured line of credit at December 31, 2021 is described as follows (in thousands): 

Description	Borrowing Capacity		Maturity Date	Outstanding Balance at December 31, 2021
Unsecured Line of Credit – Partnership	$	1,200,000	March 31, 2025	$	—

In March 2021, the Partnership amended and restated its existing $1.20 billion unsecured line of credit, which was set to mature in January 2022 with two six-month extension options. The amended and restated unsecured line of credit bears interest at one-month LIBOR plus 0.775% with a reduction in borrowing costs if certain sustainability linked metrics are achieved each year. The amended and restated line of credit matures on March 31, 2025 with two six-month extension options to extend until March 31, 2026. Subject to certain conditions, the terms also include an option to increase the facility by up to an additional $800.0 million, for a total of up to $2.00 billion. This line of credit provides us with an option to obtain borrowings from financial institutions that participate in the line at rates that may be lower than the stated interest rate, subject to certain restrictions.

This line of credit contains financial covenants that require us to meet certain financial ratios and defined levels of performance, including those related to fixed charge coverage, unsecured interest expense coverage and debt-to-asset value (with asset value being defined in the Partnership's unsecured line of credit agreement). At December 31, 2021, we were in compliance with all covenants under this line of credit.

In 2017, the Alternative Reference Rates Committee proposed that the Secured Overnight Funding Rate replace LIBOR. In March 2021, the administrator of LIBOR announced that the publication of LIBOR will cease for one-week and two-month USD LIBOR settings immediately after December 31, 2021, and the remaining USD LIBOR settings immediately after June 30, 2023. As the Partnership's unsecured line of credit agreement has provisions that allow for automatic transition to a new rate, and the Partnership has no other material debt arrangements that are indexed to LIBOR, we believe that the transition will not have a material impact on our consolidated financial statements.

At December 31, 2021, we had on file with the SEC an automatic shelf registration statement on Form S-3 relating to the offer and sale, from time to time, of an indeterminate amount of debt and equity securities (including guarantees of the Partnership's debt securities by the General Partner). Equity securities are offered and sold by the General Partner, and the net proceeds of such offerings are contributed to the Partnership in exchange for additional General Partner Units or Preferred Units. From time to time, we expect to issue additional securities under this automatic shelf registration statement to fund the repayment of debt, development and future acquisitions and for other general corporate purposes.

In February 2021, the General Partner terminated its previous equity distribution agreement for its previous ATM equity program and entered into a new equity distribution agreement pursuant to which the General Partner may sell from time to time up to an aggregate offering price of $400.0 million of its common stock through sales agents or forward sellers. During the three months ended December 31, 2021, the General Partner issued 1.7 million common shares pursuant to its new ATM equity program, resulting in net proceeds of $94.6 million after paying total compensation of $955,000 to the applicable sales agents. During the year ended December 31, 2021, the General Partner issued 8.0 million common shares under its new ATM equity program, generating net proceeds of $396.0 million after paying total compensation of $4.0 million to the applicable sales agents. In addition, during the year ended December 31, 2021, the General Partner issued 210,000 common shares under its predecessor ATM equity program, resulting in net proceeds of $8.3 million after paying total compensation of $84,000 to the applicable sales agents. These issuances under both ATM programs resulted in net proceeds of $403.6 million during 2021, after deducting the commissions and other fees paid, totaling $626,000. As of December 31, 2021, substantially all of the ATM equity program has been utilized.

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In January 2021, the Partnership issued $450.0 million of senior unsecured notes, which bear interest at a stated interest rate of 1.75%, have an effective interest rate of 1.83%, and mature on February 1, 2031, for cash proceeds of $446.6 million.

In November 2021, the Partnership issued $500.0 million of senior unsecured notes, which bear interest at a stated interest rate of 2.25%, have an effective interest rate of 2.38%, and mature on January 15, 2032, for cash proceeds of $494.1 million.

The Partnership has issued debt securities pursuant to certain indentures and related supplemental indentures, which also require us to comply with financial ratios and other covenants regarding our operations. We were in compliance with all such covenants at December 31, 2021.

Sale of Real Estate Assets

We dispose of certain properties in a manner consistent with our strategic plans. Our ability to dispose of such properties on favorable terms is dependent upon a number of factors including the availability of credit to potential buyers to purchase properties at prices that we consider acceptable. Although we believe that we have demonstrated our ability to generate significant liquidity through property dispositions, potential future adverse changes to market and economic conditions could negatively impact our further ability to dispose of properties that no longer meet our long-term objectives.

Sales of buildings and land provided $1.07 billion in net proceeds in 2021, compared to $336.3 million in 2020 and $432.7 million in 2019.

Transactions with Unconsolidated Joint Ventures

Transactions with unconsolidated joint ventures also provide a source of liquidity. From time to time we will sell properties to unconsolidated joint ventures, while retaining a continuing interest in that entity, and receive proceeds commensurate to those interests that we do not own. Additionally, unconsolidated joint ventures will from time to time obtain debt financing or sell properties and will then distribute to us, and our joint venture partners, all or a portion of the proceeds from such transactions. During 2021, our share of sale and capital distributions from unconsolidated joint ventures totaled $61.6 million. As part of closings of the contribution of properties to the recently formed 20% owned unconsolidated joint venture, we received $41.1 million for our ownership share of proceeds from third party mortgage loans originated by this joint venture during 2021.

Uses of Liquidity

Our principal uses of liquidity include the following:

•property investment;

•leasing/capital costs;

•dividends and distributions to shareholders and unitholders;

•debt service and maturities;

•opportunistic repurchases of outstanding debt; and

•other contractual obligations.

Property Investment

Our overall strategy is to continue to increase our investment in quality industrial properties, primarily through development, on both a speculative and build-to-suit basis, supplemented with acquisitions in Coastal Tier 1 markets. Pursuant to this strategy, we evaluate development and acquisition opportunities based upon our market outlook, including general economic conditions, supply and long-term growth potential. Our ability to make future property investments is dependent upon identifying suitable acquisition and development opportunities, and our continued access to our longer-term sources of liquidity, including issuances of debt or equity securities as well as generating cash flow by disposing of selected properties.

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Leasing/Capital Costs

Tenant improvements and lease-related costs pertaining to our initial leasing of newly completed space, or vacant space in acquired properties, are referred to as first generation expenditures. Such first generation expenditures for tenant improvements are included within "development of real estate investments" in our Consolidated Statements of Cash Flows, while such expenditures for capitalizable lease-related costs are included within "other deferred leasing costs."

Cash expenditures related to the construction of a building's shell, as well as the associated site improvements, are also included within "development of real estate investments" in our Consolidated Statements of Cash Flows.

Tenant improvements and leasing costs to renew or re-let rental space that we previously leased to tenants for second generation leases are referred to as second generation expenditures. Building improvements that are not specific to any tenant, but serve to improve integral components of our real estate properties, are also second generation expenditures. One of the principal uses of our liquidity is to fund the second generation leasing/capital expenditures of our real estate investments.

The following table summarizes our second generation capital expenditures by type of expenditure, as well as capital expenditures for the development of real estate investments and for other deferred leasing costs (in thousands):

	2021		2020		2019
Second generation tenant improvements	$	23,270	$	17,126	$	12,165
Second generation leasing costs	36,691		23,808		28,467
Building improvements	8,484		4,103		12,505
Total second generation capital expenditures	$	68,445	$	45,037	$	53,137
Development of real estate investments	$	661,416	$	573,544	$	446,801
Other deferred leasing costs	$	42,214	$	41,607	$	32,921

We had consolidated properties under development with an expected total cost of $1.38 billion at December 31, 2021, compared to projects with an expected cost of $1.04 billion and $1.05 billion at December 31, 2020 and 2019, respectively. We had $685.2 million of remaining costs to complete for consolidated properties under development at December 31, 2021.

The capital expenditures in the table above include the capitalization of internal overhead costs. We capitalized $7.9 million, $6.5 million and $6.8 million of overhead costs that are incremental to executing leases, including both first and second generation leases, during the years ended December 31, 2021, 2020 and 2019, respectively. We capitalized $28.6 million, $28.8 million and $24.2 million of overhead costs related to development activities, including both development and tenant improvement projects on first and second generation space, during the years ended December 31, 2021, 2020 and 2019, respectively. Combined overhead costs capitalized to leasing and development totaled 25.2%, 26.7% and 22.8% of our overall pool of overhead costs at December 31, 2021, 2020 and 2019, respectively.

Further discussion of the capitalization of overhead costs can be found herein, in the year-to-year comparison of general and administrative expenses of this Item 7.

In addition to the capitalization of overhead costs, the totals for development of real estate assets in the table above include the capitalization of $35.0 million, $24.3 million and $26.5 million of interest costs during the years ended December 31, 2021, 2020 and 2019, respectively.

Both our first and second generation expenditures vary significantly between leases on a per square foot basis, dependent upon several factors including the nature of a tenant's operations, the specific physical characteristics of each individual property and the market in which the property is located.

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Dividend and Distribution Requirements

The General Partner is required to meet the distribution requirements of the Code in order to maintain its REIT status. We paid regular dividends or distributions of $1.045, $0.96 and $0.88 per common share or Common Unit for the years ended December 31, 2021, 2020 and 2019, respectively.

We expect to continue to distribute at least an amount equal to our taxable earnings, to meet the requirements to maintain the General Partner's REIT status, and additional amounts as determined by the General Partner's board of directors. Distributions are declared at the discretion of the General Partner's board of directors and are subject to actual cash available for distribution, our financial condition, capital requirements and such other factors as the General Partner's board of directors deems relevant.

Debt Service and Maturities

Debt outstanding at December 31, 2021 had a face value totaling $3.73 billion with a weighted average interest rate of 3.02% and maturities at various dates through 2050. Of this total amount, we had $3.68 billion of unsecured debt, $56.2 million of secured debt and no outstanding borrowings on our unsecured line of credit at December 31, 2021. Scheduled principal amortization, maturities and repayments of unsecured debt, outstanding line of credit balances and assumed joint venture debt totaled $673.4 million for the year ended December 31, 2021.

The following table is a summary of the scheduled future amortization and maturities of our indebtedness at December 31, 2021 (in thousands, except percentage data): 

	Future Repayments
Year	Scheduled Amortization		Maturities		Total		Weighted Average Interest Rate of Future Repayments
2022	$	4,646	$	—	$	4,646	5.19%
2023	4,893		—		4,893		5.22%
2024	5,155		300,000		305,155		3.92%
2025	5,102		—		5,102		5.09%
2026	3,238		375,000		378,238		3.38%
2027	1,615		475,000		476,615		3.18%
2028	1,307		500,000		501,307		4.45%
2029	1,359		400,000		401,359		2.88%
2030	1,413		350,000		351,413		1.86%
2031	1,469		450,000		451,469		1.84%
Thereafter	3,261		847,734		850,995		2.74%
	$	33,458	$	3,697,734	$	3,731,192	3.02%

We anticipate generating capital to fund our debt maturities by using undistributed cash generated from our Rental Operations and property dispositions and by raising additional capital from future debt or equity transactions.

On January 14, 2022, we provided notice of redemption to the holders of our $300.0 million of 3.75% unsecured notes, which are scheduled to mature in December 2024. This redemption will be funded with the proceeds of the contribution of third tranche of assets to a 20% owned joint venture which closed in January 2022.

Repayments of Outstanding Debt

To the extent that it supports our overall capital strategy, we may purchase or redeem some of our outstanding unsecured notes prior to their stated maturities.

In January 2021, the Partnership assumed, and immediately repaid $40.2 million of unsecured debt associated with the properties received as a result of the dissolution of two unconsolidated joint ventures.

In June 2021, we redeemed $83.7 million of unsecured notes that were scheduled to mature in October 2022.

In August 2021, we redeemed $250.0 million of unsecured notes that were scheduled to mature in April 2023.

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Lease Commitments

As of December 31, 2021, we have total future payment obligations of $223.5 million on our ground leases and $25.5 million on our office leases and other lease arrangements, over their non-cancellable lease periods including applicable lease extension and renewal options when deemed reasonably certain of exercise. No payments on these leases are material in any individual year.

Guarantee Obligations

We are subject to various guarantee obligations in the normal course of business and, in most cases, do not anticipate these obligations to result in significant cash payments. At December 31, 2021, we guaranteed the repayment of a $4.8 million loan associated with one of our unconsolidated joint ventures.

Additionally, as of December 31, 2021, we guaranteed the repayment of $18.5 million of economic development bonds issued by various municipalities in connection with certain commercial developments.

Historical Cash Flows

Cash, cash equivalents and restricted cash were $103.2 million, $67.2 million and $121.4 million at December 31, 2021, 2020, and 2019, respectively. The following table highlights significant changes in net cash associated with our operating, investing and financing activities (in millions): 

	Years Ended December 31,
	2021		2020		2019
Net cash provided by operating activities	$	642.4	$	566.4	$	505.9
Net cash used for investing activities	$	(832.4)	$	(856.2)	$	(555.1)
Net cash provided by financing activities	$	225.9	$	235.6	$	145.1

Operating Activities

Cash flows from operating activities provide the cash necessary to meet our operational requirements and the receipt of rental income from Rental Operations continues to be our primary source of operating cash flows. The increase in net cash provided by operating activities, from 2019 to 2020 and from 2020 to 2021, was driven by increasing occupancy and rental rates within our existing portfolio and increasing our asset base through acquisitions and development, financed through equity or low cost debt issuances.

Investing Activities

Highlights of significant cash sources and uses are as follows (in millions):

	Years Ended December 31,
	2021		2020		2019
Development of real estate investments	$	(661.4)	$	(573.5)	$	(446.8)
Acquisition of buildings, land and other real estate assets	(1,148.2)		(632.1)		(598.4)
Proceeds from sale of land and properties, net	1,068.0		336.3		432.7
Second generation tenant improvements, leasing costs and building improvements	(68.4)		(45.0)		(53.1)
Issuance of mortgage loan	(31.7)		—		—
Purchase deposit for assets to be contributed to an unconsolidated joint venture	13.4		—		—
Proceeds from the repayments of notes receivable from property sales	—		110.0		162.6
Capital distributions from unconsolidated joint ventures	61.6		0.9		26.3
Capital contributions and advances to unconsolidated joint ventures	(22.6)		(6.2)		(34.5)

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Financing Activities

Highlights of cash inflows and outflows from equity transactions are as follows (in millions):

	Years Ended December 31,
	2021		2020		2019
Proceeds from issuances of common shares under ATM equity programs	$	403.6	$	175.0	$	263.3
Distributions to common shareholders	(394.5)		(355.3)		(318.7)
Distributions to limited partners	(3.9)		(3.2)		(2.8)

Highlights of cash inflows and outflows from debt transactions are as follows (in millions):

	Years Ended December 31,
	2021		2020		2019
Proceeds from the issuance of debt
Secured debt	$	—	$	18.4	$	—
Senior unsecured debt	940.7		663.1		582.3
	$	940.7	$	681.5	$	582.3
Repurchase of and repayments on debt (including extinguishment costs)
Secured debt	$	—	$	(9.0)	$	(41.7)
Senior unsecured debt	(390.9)		(547.0)		(255.8)
	$	(390.9)	$	(556.0)	$	(297.5)
(Repayments) borrowings on line of credit, net
Unsecured line of credit	$	(295.0)	$	295.0	$	(30.0)

Impact of Changes in Credit Ratings on Our Liquidity

We are currently assigned investment grade corporate credit ratings on our senior unsecured notes from Moody's Investors Service and Standard & Poor's Ratings Group. Our senior unsecured notes have been assigned a rating of Baa1 by Moody's Investors Service. In addition, our senior unsecured notes have been assigned a rating of BBB+ by Standard & Poor's Ratings Group. A securities rating is not a recommendation to buy, sell, or hold securities and is subject to revision or withdrawal at any time by the rating organization.

The ratings of our senior unsecured notes could change based upon, among other things, the impact that prevailing economic conditions may have on our results of operations and financial condition. If our credit ratings are downgraded or other negative action is taken, we could be required, among other things, to pay additional interest and fees on outstanding borrowings under our revolving credit agreement. Credit rating reductions by one or more rating agencies could also adversely affect our access to funding sources, the cost and other terms of obtaining funding, as well as our overall financial condition, operating results and cash flow.

Financial Instruments

We are exposed to capital market risk, such as changes in interest rates. In order to reduce the volatility relating to interest rate risk, we may enter into interest rate hedging arrangements from time to time. We do not utilize derivative financial instruments for trading or speculative purposes.

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Item 7A.  Quantitative and Qualitative Disclosures About Market Risk

We are exposed to market risks, including interest rates, in the ordinary course of business.

Interest Rate Risk

We are exposed to interest rate changes primarily as a result of our line of credit and long-term borrowings. Our interest rate risk management objective is to limit the impact of interest rate changes on earnings and cash flows and to lower overall borrowing costs. To achieve our objectives, we borrow primarily at fixed rates and may enter into derivative financial instruments such as interest rate swaps in order to mitigate our interest rate risk on a related financial instrument. We do not enter into derivative or interest rate transactions for speculative purposes.

Our interest rate risk is monitored using a variety of techniques. The table below presents the principal amounts (in thousands) of the expected annual maturities, weighted average interest rates for the average debt outstanding in the specified period and fair values (in thousands).

	2022			2023			2024			2025			2026			Thereafter			Total			Fair Value
Long-Term Debt:
Fixed rate secured debt	$	4,346		$	4,593		$	4,855		$	4,702		$	3,238		$	33,158		$	54,892		$	59,989
Weighted average interest rate	5.54		%	5.55		%	5.56		%	5.51		%	5.27		%	4.08		%	4.64		%
Variable rate secured debt	$	300		$	300		$	300		$	400		$	—		$	—		$	1,300		$	1,300
Weighted average interest rate	0.12		%	0.12		%	0.12		%	0.12		%	N/A			N/A			0.12		%
Fixed rate unsecured debt	$	—		$	—		$	300,000		$	—		$	375,000		$	3,000,000		$	3,675,000		$	3,779,465
Weighted average interest rate	N/A			N/A			3.90		%	N/A			3.36		%	2.86		%	3.00		%

On January 14, 2022, we provided notice of redemption to the holders of our $300.0 million of 3.75% unsecured notes, which are scheduled to mature in December 2024.

As the above table incorporates only those exposures that existed at December 31, 2021, it does not consider those exposures or positions that could arise after that date. As a result, the ultimate impact of interest rate fluctuations will depend on future exposures that arise, our hedging strategies at that time, to the extent we are party to interest rate derivatives, and interest rates. Interest expense on our unsecured line of credit, to the extent there are outstanding borrowings, will be affected by fluctuations in the one-month LIBOR indices or applicable replacement rates, changes in our credit rating as well as certain sustainability linked metrics achieved each year. The interest rate at such point in the future as we may renew, extend or replace our unsecured line of credit will be heavily dependent upon the state of the credit environment.

At December 31, 2021, the face value of our unsecured debt was $3.68 billion and we estimated the fair value of that unsecured debt to be $3.78 billion.  At December 31, 2020, the face value of our unsecured debt was $3.06 billion and we estimated the fair value of that unsecured debt to be $3.39 billion. 

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Item 8.  Financial Statements and Supplementary Data

The financial statements and supplementary data are included under Item 15 of this Report and are incorporated herein by reference.

Item 9.  Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

There was no change or disagreement with our accountants related to our accounting and financial disclosures.

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Item 9A.  Controls and Procedures

Controls and Procedures (General Partner)

We conducted an evaluation of the effectiveness of the design and operation of our "disclosure controls and procedures" as of the end of the period covered by this Report. The controls evaluation was done under the supervision and with the participation of management, including the Chief Executive Officer and the Chief Financial Officer.

Attached as exhibits to this Report are certifications of our Chief Executive Officer and Chief Financial Officer, which are required in accordance with Rule 13a-14 of the Securities Exchange Act of 1934. This Controls and Procedures section includes the information concerning the controls evaluation referred to in the certifications and it should be read in conjunction with the certifications for a more complete understanding of the topics presented.

Disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act")) are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act, such as this Report, is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures are also designed to ensure that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

Based on the disclosure controls and procedures evaluation referenced above, our Chief Executive Officer and Chief Financial Officer have concluded that as of the end of the period covered by this Report, our disclosure controls and procedures were effective.

Management's annual report on internal control over financial reporting and the audit report of our independent registered public accounting firm are included in Item 15 of Part IV under the headings "Management's Report on Internal Control" and "Report of Independent Registered Public Accounting Firm," respectively, and are incorporated herein by reference.

There were no changes in our internal control over financial reporting during the quarter ended December 31, 2021 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Controls and Procedures (Partnership)

We conducted an evaluation of the effectiveness of the design and operation of our "disclosure controls and procedures" as of the end of the period covered by this Report. The controls evaluation was done under the supervision and with the participation of management, including the General Partner's Chief Executive Officer and Chief Financial Officer.

Attached as exhibits to this Report are certifications of the General Partner's Chief Executive Officer and Chief Financial Officer, which are required in accordance with Rule 13a-14 of the Securities Exchange Act of 1934. This Controls and Procedures section includes the information concerning the controls evaluation referred to in the certifications and it should be read in conjunction with the certifications for a more complete understanding of the topics presented.

Disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act, such as this Report, is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures are also designed to ensure that such information is accumulated and communicated to management, including the General Partner's principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

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Based on the disclosure controls and procedures evaluation referenced above, the General Partner's Chief Executive Officer and Chief Financial Officer have concluded that as of the end of the period covered by this Report, our disclosure controls and procedures were effective.

Management's annual report on internal control over financial reporting and the audit report of our independent registered public accounting firm are included in Item 15 of Part IV under the headings "Management's Report on Internal Control" and "Report of Independent Registered Public Accounting Firm," respectively, and are incorporated herein by reference.

There were no changes in our internal control over financial reporting during the quarter ended December 31, 2021 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Item 9B.  Other Information

There was no information required to be disclosed in a report on Form 8-K during the fourth quarter of 2021 for which no Form 8-K was filed.

Our discussion of federal income tax considerations in Exhibit 99.1 attached hereto, which is incorporated herein by reference, supersedes and replaces, in its entirety, (i) the disclosure under the heading “Federal Income Tax Considerations” in the prospectus dated July 25, 2019, which is a part of our Registration Statement on Form S-3 (File No. 333-232816), as amended or supplemented, (ii) the disclosure under the heading “Federal Income Tax Considerations” in the prospectus dated April 30, 2021, which is a part of our Registration Statement on Form S-3 (File No. 333-255633), as amended or supplemented, and (iii) similarly titled sections in the prospectuses contained in our other Registration Statements on Form S-3 (File Nos. 333-128132, 333-108556, 333-70678, 333-59138, 333-51344, 333-39498, 333-35008, 333-85009, 333-82063, 333-66919, 333-50081, 333-26833, 333-24289, and 033-64659), as amended or supplemented. Our updated discussion addresses recent tax law changes.

Item 9C.  Holding Foreign Companies Accountable Act Disclosure

Not applicable.

PART III

Item 10.  Directors, Executive Officers and Corporate Governance

The following is a summary of the executive officers of the General Partner:

James B. Connor, age 63.  Mr. Connor was named the General Partner's Chairman and Chief Executive Officer, commencing April 26, 2017, and joined the General Partner's Board of Directors in 2015. Prior to being named Chairman and Chief Executive Officer, Mr. Connor held various senior management positions with the General Partner, including President and Chief Executive Officer from January 1, 2016 to April 25, 2017; Senior Executive Vice President and Chief Operating Officer from 2013 to 2015; Senior Regional Executive Vice President from 2011 to 2013; Executive Vice President of the Midwest Region from 2003 to 2011; and Senior Vice President between 1998 and 2003. Prior to joining the General Partner in 1998, Mr. Connor held numerous executive and brokerage positions with Cushman & Wakefield, most recently serving as Senior Managing Director for the Midwest area. In 2019, Mr. Connor joined the Board of Trustees of EPR Properties, a publicly traded REIT. Mr. Connor also serves on the Board of Trustees of Roosevelt University.

Mark A. Denien, age 54. Mr. Denien was appointed the General Partner's Executive Vice President and Chief Financial Officer on May 17, 2013. Prior to being named Executive Vice President and Chief Financial Officer, Mr. Denien was Senior Vice President and Chief Accounting Officer from 2009 to 2013 and, prior to that, served as Senior Vice President, Corporate Controller. Prior to joining the General Partner in 2005, Mr. Denien spent 16 years with KPMG LLP. Mr. Denien serves as a director of Goodwill Industries of Central Indiana, Inc.

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Steven W. Schnur, age 48. Mr. Schnur has served as the General Partner's Executive Vice President and Chief Operating Officer since September 2019. Prior to being named Executive Vice President and Chief Operating Officer, Mr. Schnur served as Senior Regional Executive Vice President from May 2017 until September 2019; Executive Vice President, Central Region from January 2015 until May 2017; Senior Regional, Senior Vice President from August 2014 until January 2015; Senior Vice President, Midwest Region from December 2013 until August 2014; and Senior Vice President, Chicago from October 2004 until December 2013. Mr. Schnur began his career with the General Partner as a Vice President, Leasing in September 2003. Prior to that, Mr. Schnur was Director of Real Estate for Opus North Corporation.

Nicholas C. Anthony, age 56. Mr. Anthony was appointed the General Partner's Executive Vice President and Chief Investment Officer on June 17, 2013. His responsibilities include overseeing the General Partner's acquisition and disposition activity, as well as the overall management of its joint venture business. Prior to being named Executive Vice President and Chief Investment Officer, Mr. Anthony held various senior management positions with the General Partner, including Senior Vice President, Capital Transactions and Joint Ventures from 2010 until 2013. Mr. Anthony began his career with the General Partner in 1989 as a staff accountant.

Ann C. Dee, age 62. Ms. Dee was appointed the General Partner's Executive Vice President, General Counsel and Corporate Secretary on June 17, 2013. Prior to being named Executive Vice President, General Counsel and Corporate Secretary, Ms. Dee held the position of Senior Vice President, General Counsel and Corporate Secretary from January 1, 2013 until June 17, 2013 and the position of Deputy General Counsel and Senior Vice President from June 23, 2008 until January 1, 2013. Ms. Dee joined the General Partner in 1996 as a Corporate Attorney. Prior to joining the General Partner, Ms. Dee serves as a member of the Board of Directors of First Internet Bancorp, a bank holding company in Fishers, Indiana and the Center for Performing Arts in Carmel, Indiana.

All other information required by this item will be included in the General Partner's 2022 proxy statement (the "2022 Proxy Statement") for the General Partner's Annual Meeting of Shareholders to be held on April 14, 2022, and is incorporated herein by reference. In addition, the General Partner's Code of Business Ethics (which applies to each of our associates, officers and directors) and the General Partner's Corporate Governance Guidelines are available in the investor information/corporate governance section of our website at www.dukerealty.com. A copy of these documents may also be obtained without charge by writing to Duke Realty Corporation, 8711 River Crossing Boulevard, Indianapolis, Indiana 46240, Attention: Investor Relations.

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Item 11.  Executive Compensation

The information required by Item 11 of this Report will be included in our 2022 Proxy Statement, which information is incorporated herein by this reference.

Item 12.  Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The information required by Item 12 of this Report will be included in our 2022 Proxy Statement, which information is incorporated herein by this reference.

Item 13. Certain Relationships and Related Transactions, and Director Independence

The information required to be furnished pursuant to Item 13 of this Report will be included in our 2022 Proxy Statement, which information is incorporated herein by this reference.

Item 14. Principal Accountant Fees and Services

KPMG LLP (Indianapolis, Indiana; PCAOB ID#185) is the independent registered public accounting firm for both the General Partner and the Partnership. The information required to be furnished pursuant to Item 14 of this Report will be included in our 2022 Proxy Statement, which information is incorporated herein by this reference.

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PART IV

Item 15.  Exhibits and Financial Statement Schedules 

(a)The following documents are filed as part of this Annual Report:

1.    Consolidated Financial Statements

The following Consolidated Financial Statements, together with the Management's Report on Internal Control and the Report of Independent Registered Public Accounting Firm are listed below:

Duke Realty Corporation:

Duke Realty Limited Partnership:

Duke Realty Corporation:

Duke Realty Limited Partnership:

Duke Realty Corporation and Duke Realty Limited Partnership:

2.    Consolidated Financial Statement Schedules

    Duke Realty Corporation and Duke Realty Limited Partnership:

 3.    Exhibits

The exhibits required to be filed with this Report pursuant to Item 601 of Regulation S-K are listed on pages 115 to 119 of this Report and are incorporated herein by reference. 

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Management's Report on Internal Control

We, as management of Duke Realty Corporation and its subsidiaries (the "General Partner"), are responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934, as amended). Pursuant to the rules and regulations of the Securities and Exchange Commission, internal control over financial reporting is a process designed by, or under the supervision of, the company's principal executive and principal financial officers, or persons performing similar functions, and effected by the company's board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:

•Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of assets of the company;

•Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and

•Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company's assets that could have a material effect on the financial statements.

Management has evaluated the effectiveness of its internal control over financial reporting as of December 31, 2021 based on the control criteria established in a report entitled Internal Control – Integrated Framework (2013), issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on such evaluation, we have concluded that, as of December 31, 2021, our internal control over financial reporting is effective based on these criteria.

The independent registered public accounting firm of KPMG LLP, as auditors of the General Partner's consolidated financial statements, has also issued an audit report on the General Partner's internal control over financial reporting.

/s/ James B. Connor

James B. Connor

Chairman and Chief Executive Officer

/s/ Mark A. Denien

Mark A. Denien

Executive Vice President and Chief Financial Officer

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Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors

Duke Realty Corporation:

Opinions on the Consolidated Financial Statements and Internal Control Over Financial Reporting

We have audited the accompanying consolidated balance sheets of Duke Realty Corporation and subsidiaries (the Company) as of December 31, 2021 and 2020, the related consolidated statements of operations and comprehensive income, cash flows, and changes in equity for each of the years in the three-year period ended December 31, 2021, and the related notes and financial statement schedule III - real estate and accumulated depreciation (collectively, the consolidated financial statements). We also have audited the Company's internal control over financial reporting as of December 31, 2021, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2021 and 2020, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2021, in conformity with U.S. generally accepted accounting principles. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

Basis for Opinions

The Company’s management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management's Report on Internal Control. Our responsibility is to express an opinion on the Company’s consolidated financial statements and an opinion on the Company’s internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.

Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

Definition and Limitations of Internal Control Over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

-55-

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of a critical audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Assessment of certain values assigned to acquired assets and liabilities in certain asset acquisitions

As discussed in Notes 2 and 5 to the consolidated financial statements, the Company acquired approximately $571 million of real estate assets in 2021. For asset acquisitions, the Company records the purchase price to the tangible and identified intangible assets based on its “as-if vacant” fair value and other valuation techniques.

We identified the assessment of the fair value of land and the below market component of in-place leases in certain asset acquisitions as a critical audit matter. There is a high degree of subjective auditor judgment in determining the fair value of land and market rents used to determine the below market component of in-place leases.

The primary procedures we performed to address this critical audit matter included the following. We tested certain internal controls over the Company’s asset allocation process, including controls to identify and select publicly available comparable land sales and market rents used to estimate the fair value of land and the below market component of in-place leases, respectively. We involved valuation professionals with specialized skills and knowledge, who assisted in comparing:

•the Company’s estimated fair value of land to a range of independently developed estimates based on publicly available and comparable land sales: and

•the market rents used in the Company’s estimated fair value of the below market component of in-place leases to publicly available market data for similar properties.

/s/ KPMG LLP

We have served as the Company’s auditor since 1986.

Indianapolis, Indiana

February 18, 2022

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Management's Report on Internal Control

We, as management of Duke Realty Limited Partnership and its subsidiaries (the "Partnership"), are responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934, as amended). Pursuant to the rules and regulations of the Securities and Exchange Commission, internal control over financial reporting is a process designed by, or under the supervision of the principal executive and principal financial officers, or persons performing similar functions, of Duke Realty Corporation (the "General Partner"), and effected by the General Partner's board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:

•Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of assets of the Partnership;

•Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the General Partner; and

•Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Partnership's assets that could have a material effect on the financial statements.

Management has evaluated the effectiveness of its internal control over financial reporting as of December 31, 2021 based on the control criteria established in a report entitled Internal Control – Integrated Framework (2013), issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on such evaluation, we have concluded that, as of December 31, 2021, our internal control over financial reporting is effective based on these criteria.

The independent registered public accounting firm of KPMG LLP, as auditors of the Partnership's consolidated financial statements, has also issued an audit report on the Partnership's internal control over financial reporting.

/s/ James B. Connor

James B. Connor

Chairman and Chief Executive Officer

of the General Partner

/s/ Mark A. Denien

Mark A. Denien

Executive Vice President and Chief Financial Officer

of the General Partner

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Report of Independent Registered Public Accounting Firm

To the Unitholders of Duke Realty Limited Partnership and the Board of Directors of Duke Realty Corporation:

Opinions on the Consolidated Financial Statements and Internal Control Over Financial Reporting

We have audited the accompanying consolidated balance sheets of Duke Realty Limited Partnership and subsidiaries (the Partnership) as of December 31, 2021 and 2020, the related consolidated statements of operations and comprehensive income, cash flows, and changes in equity for each of the years in the three-year period ended December 31, 2021, and the related notes and financial statement schedule III - real estate and accumulated depreciation (collectively, the consolidated financial statements). We also have audited the Partnership's internal control over financial reporting as of December 31, 2021, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Partnership as of December 31, 2021 and 2020, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2021, in conformity with U.S. generally accepted accounting principles. Also in our opinion, the Partnership maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

Basis for Opinions

The Partnership’s management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management's Report on Internal Control. Our responsibility is to express an opinion on the Partnership’s consolidated financial statements and an opinion on the Partnership’s internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Partnership in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.

Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

Definition and Limitations of Internal Control Over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

-58-

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of a critical audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Assessment of certain values assigned to acquired assets and liabilities in certain asset acquisitions

As discussed in Notes 2 and 5 to the consolidated financial statements, the Partnership acquired approximately $571 million of real estate assets in 2021. For asset acquisitions, the Partnership records the purchase price to the tangible and identified intangible assets based on its “as-if vacant” fair value and other valuation techniques.

We identified the assessment of the fair value of land and the below market component of in-place leases in certain asset acquisitions as a critical audit matter. There is a high degree of subjective auditor judgment in determining the fair value of land and market rents used to determine the below market component of in-place leases.

The primary procedures we performed to address this critical audit matter included the following. We tested certain internal controls over the Partnership’s asset allocation process, including controls to identify and select publicly available comparable land sales and market rents used to estimate the fair value of land and the below market component of in-place leases, respectively. We involved valuation professionals with specialized skills and knowledge, who assisted in comparing:

•the Partnership’s estimated fair value of land to a range of independently developed estimates based on publicly available and comparable land sales: and

•the market rents used in the Partnership’s estimated fair value of the below market component of in-place leases to publicly available market data for similar properties.

/s/ KPMG LLP

We have served as the Partnership’s auditor since 1994.

Indianapolis, Indiana

February 18, 2022

-59-

DUKE REALTY CORPORATION AND SUBSIDIARIES

Consolidated Balance Sheets

As of December 31,

(in thousands, except per share amounts)

	2021		2020
ASSETS
Real estate investments:
Real estate assets	$	9,616,076	$	8,745,155
Construction in progress	744,871		695,219
Investments in and advances to unconsolidated joint ventures	168,336		131,898
Undeveloped land	473,317		291,614
	11,002,600		9,863,886
Accumulated depreciation	(1,684,413)		(1,659,308)
Net real estate investments	9,318,187		8,204,578
Real estate investments and other assets held-for-sale	144,651		67,946
Cash and cash equivalents	69,752		6,309
Accounts receivable	13,449		15,204
Straight-line rent receivable	172,225		153,943
Receivables on construction contracts, including retentions	57,258		30,583
Deferred leasing and other costs, net of accumulated amortization of $209,975 and $204,122	337,936		329,765
Restricted cash held in escrow for like-kind exchange	—		47,682
Other escrow deposits and other assets	332,197		255,384
	$	10,445,655	$	9,111,394
LIABILITIES AND EQUITY
Indebtedness:
Secured debt, net of deferred financing costs of $304 and $343	$	59,418	$	64,074
Unsecured debt, net of deferred financing costs of $45,136 and $32,763	3,629,864		3,025,977
Unsecured line of credit	—		295,000
	3,689,282		3,385,051
Liabilities related to real estate investments held-for-sale	6,278		7,740
Construction payables and amounts due subcontractors, including retentions	107,009		62,332
Accrued real estate taxes	77,464		76,501
Accrued interest	20,815		18,363
Other liabilities	339,023		269,806
Tenant security deposits and prepaid rents	66,823		57,153
Total liabilities	4,306,694		3,876,946
Shareholders' equity:
Common shares ($0.01 par value); 600,000 shares authorized; 382,513 and 373,258 shares issued and outstanding, respectively	3,825		3,733
Additional paid-in capital	6,143,147		5,723,326
Accumulated other comprehensive loss	(28,011)		(31,568)
Distributions in excess of net income	(75,210)		(532,519)
Total shareholders' equity	6,043,751		5,162,972
Noncontrolling interests	95,210		71,476
Total equity	6,138,961		5,234,448
	$	10,445,655	$	9,111,394

See accompanying Notes to Consolidated Financial Statements.

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DUKE REALTY CORPORATION AND SUBSIDIARIES

Consolidated Statements of Operations and Comprehensive Income

For the Years Ended December 31,

(in thousands, except per share amounts)

	2021		2020		2019
Revenues:
Rental and related revenue	$	1,025,663	$	929,194	$	855,833
General contractor and service fee revenue	80,260		64,004		117,926
	1,105,923		993,198		973,759
Expenses:
Rental expenses	85,782		76,639		75,584
Real estate taxes	159,580		149,295		129,520
General contractor and other services expenses	68,118		57,976		111,566
Depreciation and amortization	362,148		353,013		327,223
	675,628		636,923		643,893
Other operating activities:
Equity in earnings of unconsolidated joint ventures	32,804		11,944		31,406
Gain on sale of properties	585,685		127,700		234,653
Gain on land sales	12,917		10,458		7,445
Other operating expenses	(3,607)		(8,209)		(5,318)
Impairment charges	—		(5,626)		—
Non-incremental costs related to successful leases	(13,302)		(12,292)		(12,402)
General and administrative expenses	(69,554)		(62,404)		(60,889)
	544,943		61,571		194,895
Operating income	975,238		417,846		524,761
Other income (expenses):
Interest and other income, net	4,451		1,721		9,941
Interest expense	(84,843)		(93,442)		(89,756)
Loss on debt extinguishment	(17,901)		(32,900)		(6,320)
Gain on involuntary conversion	3,222		4,312		2,259
Income from continuing operations before income taxes	880,167		297,537		440,885
Income tax (expense) benefit	(18,549)		5,112		(8,686)
Income from continuing operations	861,618		302,649		432,199
Discontinued operations:
Gain on sale of properties	—		111		445
Income from discontinued operations	—		111		445
Net income	861,618		302,760		432,644
Net income attributable to noncontrolling interests	(8,723)		(2,845)		(3,672)
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972
Basic net income per common share:
Continuing operations attributable to common shareholders	$	2.25	$	0.81	$	1.18
Total	$	2.25	$	0.81	$	1.18
Diluted net income per common share:
Continuing operations attributable to common shareholders	$	2.25	$	0.80	$	1.18
Total	$	2.25	$	0.80	$	1.18
Weighted average number of common shares outstanding	377,673		370,057		362,234
Weighted average number of common shares and potential dilutive securities	383,476		374,156		367,339
Comprehensive income:
Net income	$	861,618	$	302,760	$	432,644
Other comprehensive income (loss):
Unrealized losses on interest rate swap contracts	—		—		(30,893)
Amortization of interest rate swap contracts	3,557		3,468		533
Total other comprehensive income (loss)	3,557		3,468		(30,360)
Comprehensive income	$	865,175	$	306,228	$	402,284

See accompanying Notes to Consolidated Financial Statements.

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DUKE REALTY CORPORATION AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For the Years Ended December 31,

(in thousands)

	2021		2020		2019
Cash flows from operating activities:
Net income	$	861,618	$	302,760	$	432,644
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of buildings and tenant improvements	304,935		297,158		272,422
Amortization of deferred leasing and other costs	57,213		55,855		54,801
Amortization of deferred financing costs	9,735		9,155		6,536
Straight-line rental income and expense, net	(32,081)		(25,865)		(21,197)
Impairment charges	—		5,626		—
Loss on debt extinguishment	17,901		32,900		6,320
Gain on involuntary conversion	(3,222)		(4,312)		(2,259)
Gain on land and property sales	(598,602)		(138,269)		(242,543)
Third-party construction contracts, net	(6,269)		(2,511)		9,254
Other accrued revenues and expenses, net	48,194		29,333		8,476
Equity in earnings (in excess of) less than operating distributions received from unconsolidated joint ventures	(16,996)		4,606		(18,556)
Net cash provided by operating activities	642,426		566,436		505,898
Cash flows from investing activities:
Development of real estate investments	(661,416)		(573,544)		(446,801)
Acquisition of buildings and related intangible assets	(447,584)		(383,672)		(210,224)
Acquisition of land and other real estate assets	(700,632)		(248,413)		(388,202)
Second generation tenant improvements, leasing costs and building improvements	(68,445)		(45,037)		(53,137)
Other deferred leasing costs	(42,214)		(41,607)		(32,921)
Other assets	(19,067)		(4,868)		(10,777)
Proceeds from the repayments of notes receivable from property sales	—		110,000		162,550
Proceeds from land and property sales, net	1,067,967		336,255		432,662
Capital distributions from unconsolidated joint ventures	61,616		876		26,272
Capital contributions and advances to unconsolidated joint ventures	(22,640)		(6,211)		(34,496)
Net cash used for investing activities	(832,415)		(856,221)		(555,074)
Cash flows from financing activities:
Proceeds from issuance of common shares, net	406,576		187,856		272,761
Proceeds from unsecured debt	940,749		663,123		582,284
Payments on unsecured debt	(390,900)		(546,972)		(255,812)
Proceeds from secured debt financings	—		18,400		—
Payments on secured indebtedness including principal amortization	(4,413)		(13,457)		(45,515)
(Repayments) borrowings on line of credit, net	(295,000)		295,000		(30,000)
Distributions to common shareholders	(394,487)		(355,287)		(318,702)
Distributions to noncontrolling interests, net	(4,352)		(3,347)		(2,648)
Tax payments on stock-based compensation awards	(5,132)		(4,360)		(6,825)
Change in book cash overdrafts	(12,453)		1,941		138
Cash settlement of interest rate swaps	—		—		(35,569)
Other financing activities	(357)		163		(10,183)
Deferred financing costs	(14,262)		(7,483)		(4,839)
Redemption of Limited Partner Units	(39)		—		—
Net cash provided by financing activities	225,930		235,577		145,090
Net increase (decrease) in cash, cash equivalents and restricted cash	35,941		(54,208)		95,914
Cash, cash equivalents and restricted cash at beginning of year	67,223		121,431		25,517
Cash, cash equivalents and restricted cash at end of year	$	103,164	$	67,223	$	121,431
Non-cash activities:
Lease liabilities arising from right-of-use assets	$	19,822	$	20,883	$	40,467
Assumption of indebtedness and other liabilities in real estate acquisitions	$	128,639	$	39,966	$	—
Non-cash distribution of assets from unconsolidated joint ventures, net	$	11,124	$	—	$	—
Contribution of properties to unconsolidated joint venture	$	74,942	$	—	$	—
Conversion of Limited Partner Units to common shares	$	5,099	$	—	$	1,624
Issuance of Limited Partner Units for acquisition	$	11,603	$	—	$	—

See accompanying Notes to Consolidated Financial Statements.

-62-

DUKE REALTY CORPORATION AND SUBSIDIARIES

Consolidated Statements of Changes in Equity

(in thousands, except per share data)

	Common Shareholders
	Common Stock		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)		Distributions in Excess of Net Income		Non- Controlling Interests		Total
Balance at December 31, 2018	$	3,589	$	5,244,375	$	(4,676)	$	(585,087)	$	55,042	$	4,713,243
Net income	—		—		—		428,972		3,672		432,644
Other comprehensive loss	—		—		(30,360)		—		—		(30,360)
Issuance of common shares	83		272,678		—		—		—		272,761
Contributions from noncontrolling interests	—		—		—		—		312		312
Stock-based compensation plan activity	7		6,787		—		(1,175)		7,703		13,322
Conversion of Limited Partner Units	1		1,623		—		—		(1,624)		—
Distributions to common shareholders ($0.88 per share)	—		—		—		(318,702)		—		(318,702)
Distributions to noncontrolling interests	—		—		—		—		(2,960)		(2,960)
Balance at December 31, 2019	$	3,680	$	5,525,463	$	(35,036)	$	(475,992)	$	62,145	$	5,080,260
Net income	—		—		—		299,915		2,845		302,760
Other comprehensive income	—		—		3,468		—		—		3,468
Issuance of common shares	50		187,806		—		—		—		187,856
Contributions from noncontrolling interests	—		—		—		—		200		200
Stock-based compensation plan activity	3		10,057		—		(1,155)		9,833		18,738
Distributions to common shareholders ($0.96 per share)	—		—		—		(355,287)		—		(355,287)
Distributions to noncontrolling interests	—		—		—		—		(3,547)		(3,547)
Balance at December 31, 2020	$	3,733	$	5,723,326	$	(31,568)	$	(532,519)	$	71,476	$	5,234,448
Net income	—		—		—		852,895		8,723		861,618
Other comprehensive income	—		—		3,557		—		—		3,557
Issuance of common shares	82		406,494		—		—		—		406,576
Stock-based compensation plan activity	6		8,274		—		(1,099)		12,895		20,076
Issuance of Limited Partner Units	—		—		—		—		11,564		11,564
Conversion of Limited Partner Units	4		5,095		—		—		(5,099)		—
Redemption of Limited Partner Units	—		(42)		—		—		3		(39)
Distributions to common shareholders ($1.045 per share)	—		—		—		(394,487)		—		(394,487)
Distributions to noncontrolling interests	—		—		—		—		(4,352)		(4,352)
Balance at December 31, 2021	$	3,825	$	6,143,147	$	(28,011)	$	(75,210)	$	95,210	$	6,138,961

See accompanying Notes to Consolidated Financial Statements.

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DUKE REALTY LIMITED PARTNERSHIP AND SUBSIDIARIES

Consolidated Balance Sheets

As of December 31,

(in thousands)

	2021		2020
ASSETS
Real estate investments:
Real estate assets	$	9,616,076	$	8,745,155
Construction in progress	744,871		695,219
Investments in and advances to unconsolidated joint ventures	168,336		131,898
Undeveloped land	473,317		291,614
	11,002,600		9,863,886
Accumulated depreciation	(1,684,413)		(1,659,308)
Net real estate investments	9,318,187		8,204,578
Real estate investments and other assets held-for-sale	144,651		67,946
Cash and cash equivalents	69,752		6,309
Accounts receivable	13,449		15,204
Straight-line rent receivable	172,225		153,943
Receivables on construction contracts, including retentions	57,258		30,583
Deferred leasing and other costs, net of accumulated amortization of $209,975 and $204,122	337,936		329,765
Restricted cash held in escrow for like-kind exchange	—		47,682
Other escrow deposits and other assets	332,197		255,384
	$	10,445,655	$	9,111,394
LIABILITIES AND EQUITY
Indebtedness:
Secured debt, net of deferred financing costs of $304 and $343	$	59,418	$	64,074
Unsecured debt, net of deferred financing costs of $45,136 and $32,763	3,629,864		3,025,977
Unsecured line of credit	—		295,000
	3,689,282		3,385,051
Liabilities related to real estate investments held-for-sale	6,278		7,740
Construction payables and amounts due subcontractors, including retentions	107,009		62,332
Accrued real estate taxes	77,464		76,501
Accrued interest	20,815		18,363
Other liabilities	339,023		269,806
Tenant security deposits and prepaid rents	66,823		57,153
Total liabilities	4,306,694		3,876,946
Partners’ equity:
Common equity (382,513 and 373,258 General Partner Units issued and outstanding, respectively)	6,071,762		5,194,540
Limited Partners' common equity (3,663 and 3,326 Limited Partner Units issued and outstanding, respectively)	90,679		66,874
Accumulated other comprehensive loss	(28,011)		(31,568)
Total partners' equity	6,134,430		5,229,846
Noncontrolling interests	4,531		4,602
Total equity	6,138,961		5,234,448
	$	10,445,655	$	9,111,394

See accompanying Notes to Consolidated Financial Statements.

-64-

DUKE REALTY LIMITED PARTNERSHIP AND SUBSIDIARIES

Consolidated Statements of Operations and Comprehensive Income

For the Years Ended December 31,

(in thousands, except per unit amounts)

	2021		2020		2019
Revenues:
Rental and related revenue	$	1,025,663	$	929,194	$	855,833
General contractor and service fee revenue	80,260		64,004		117,926
	1,105,923		993,198		973,759
Expenses:
Rental expenses	85,782		76,639		75,584
Real estate taxes	159,580		149,295		129,520
General contractor and other services expenses	68,118		57,976		111,566
Depreciation and amortization	362,148		353,013		327,223
	675,628		636,923		643,893
Other operating activities:
Equity in earnings of unconsolidated joint ventures	32,804		11,944		31,406
Gain on sale of properties	585,685		127,700		234,653
Gain on land sales	12,917		10,458		7,445
Other operating expenses	(3,607)		(8,209)		(5,318)
Impairment charges	—		(5,626)		—
Non-incremental costs related to successful leases	(13,302)		(12,292)		(12,402)
General and administrative expenses	(69,554)		(62,404)		(60,889)
	544,943		61,571		194,895
Operating income	975,238		417,846		524,761
Other income (expenses):
Interest and other income, net	4,451		1,721		9,941
Interest expense	(84,843)		(93,442)		(89,756)
Loss on debt extinguishment	(17,901)		(32,900)		(6,320)
Gain on involuntary conversion	3,222		4,312		2,259
Income from continuing operations before income taxes	880,167		297,537		440,885
Income tax (expense) benefit	(18,549)		5,112		(8,686)
Income from continuing operations	861,618		302,649		432,199
Discontinued operations:
Gain on sale of properties	—		111		445
Income from discontinued operations	—		111		445
Net income	861,618		302,760		432,644
Net (income) loss attributable to noncontrolling interests	(369)		(182)		6
Net income attributable to common unitholders	$	861,249	$	302,578	$	432,650
Basic net income per Common Unit:
Continuing operations attributable to common unitholders	$	2.25	$	0.81	$	1.18
Total	$	2.25	$	0.81	$	1.18
Diluted net income per Common Unit:
Continuing operations attributable to common unitholders	$	2.25	$	0.80	$	1.18
Total	$	2.25	$	0.80	$	1.18
Weighted average number of Common Units outstanding	381,381		373,360		365,352
Weighted average number of Common Units and potential dilutive securities	383,476		374,156		367,339
Comprehensive income:
Net income	$	861,618	$	302,760	$	432,644
Other comprehensive income (loss):
Unrealized losses on interest rate swap contracts	—		—		(30,893)
Amortization of interest rate swap contracts	3,557		3,468		533
Total other comprehensive income (loss)	3,557		3,468		(30,360)
Comprehensive income	$	865,175	$	306,228	$	402,284

See accompanying Notes to Consolidated Financial Statements.

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DUKE REALTY LIMITED PARTNERSHIP AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For the Years Ended December 31,

(in thousands)

	2021		2020		2019
Cash flows from operating activities:
Net income	$	861,618	$	302,760	$	432,644
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of buildings and tenant improvements	304,935		297,158		272,422
Amortization of deferred leasing and other costs	57,213		55,855		54,801
Amortization of deferred financing costs	9,735		9,155		6,536
Straight-line rental income and expense, net	(32,081)		(25,865)		(21,197)
Impairment charges	—		5,626		—
Loss on debt extinguishment	17,901		32,900		6,320
Gain on involuntary conversion	(3,222)		(4,312)		(2,259)
Gain on land and property sales	(598,602)		(138,269)		(242,543)
Third-party construction contracts, net	(6,269)		(2,511)		9,254
Other accrued revenues and expenses, net	48,194		29,333		8,476
Equity in earnings (in excess of) less than operating distributions received from unconsolidated joint ventures	(16,996)		4,606		(18,556)
Net cash provided by operating activities	642,426		566,436		505,898
Cash flows from investing activities:
Development of real estate investments	(661,416)		(573,544)		(446,801)
Acquisition of buildings and related intangible assets	(447,584)		(383,672)		(210,224)
Acquisition of land and other real estate assets	(700,632)		(248,413)		(388,202)
Second generation tenant improvements, leasing costs and building improvements	(68,445)		(45,037)		(53,137)
Other deferred leasing costs	(42,214)		(41,607)		(32,921)
Other assets	(19,067)		(4,868)		(10,777)
Proceeds from the repayments of notes receivable from property sales	—		110,000		162,550
Proceeds from land and property sales, net	1,067,967		336,255		432,662
Capital distributions from unconsolidated joint ventures	61,616		876		26,272
Capital contributions and advances to unconsolidated joint ventures	(22,640)		(6,211)		(34,496)
Net cash used for investing activities	(832,415)		(856,221)		(555,074)
Cash flows from financing activities:
Contributions from the General Partner	406,576		187,856		272,761
Proceeds from unsecured debt	940,749		663,123		582,284
Payments on unsecured debt	(390,900)		(546,972)		(255,812)
Proceeds from secured debt financings	—		18,400		—
Payments on secured indebtedness including principal amortization	(4,413)		(13,457)		(45,515)
(Repayments) borrowings on line of credit, net	(295,000)		295,000		(30,000)
Distributions to common unitholders	(398,399)		(358,484)		(321,469)
(Distributions to) contributions from noncontrolling interests, net	(440)		(150)		119
Tax payments on stock-based compensation awards	(5,132)		(4,360)		(6,825)
Change in book cash overdrafts	(12,453)		1,941		138
Cash settlement of interest rate swaps	—		—		(35,569)
Other financing activities	(357)		163		(10,183)
Deferred financing costs	(14,262)		(7,483)		(4,839)
Redemption of Limited Partner Units	(39)		—		—
Net cash provided by financing activities	225,930		235,577		145,090
Net increase (decrease) in cash, cash equivalents and restricted cash	35,941		(54,208)		95,914
Cash, cash equivalents and restricted cash at beginning of year	67,223		121,431		25,517
Cash, cash equivalents and restricted cash at end of year	$	103,164	$	67,223	$	121,431
Non-cash activities:
Lease liabilities arising from right-of-use assets	$	19,822	$	20,883	$	40,467
Assumption of indebtedness and other liabilities in real estate acquisitions	$	128,639	$	39,966	$	—
Non-cash distribution of assets from unconsolidated joint ventures, net	$	11,124	$	—	$	—
Contribution of properties to unconsolidated joint venture	$	74,942	$	—	$	—
Conversion of Limited Partner Units to common shares of the General Partner	$	5,099	$	—	$	1,624
Issuance of Limited Partner Units for acquisition	$	11,603	$	—	$	—

See accompanying Notes to Consolidated Financial Statements.

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DUKE REALTY LIMITED PARTNERSHIP AND SUBSIDIARIES

Consolidated Statements of Changes in Equity

(in thousands, except per unit data) 

	Common Unitholders
	General		Limited		Accumulated
	Partner		Partners'		Other		Total
	Common		Common		Comprehensive		Partners'		Noncontrolling		Total
	Equity		Equity		Income (Loss)		Equity		Interests		Equity
Balance at December 31, 2018	$	4,662,877	$	50,585	$	(4,676)	$	4,708,786	$	4,457	$	4,713,243
Net income	428,972		3,678		—		432,650		(6)		432,644
Other comprehensive loss	—		—		(30,360)		(30,360)		—		(30,360)
Capital contribution from the General Partner	272,761		—		—		272,761		—		272,761
Stock-based compensation plan activity	5,619		7,703		—		13,322		—		13,322
Contributions from noncontrolling interests	—		—		—		—		312		312
Conversion of Limited Partner Units	1,624		(1,624)		—		—		—		—
Distributions to Partners ($0.88 per Common Unit)	(318,702)		(2,767)		—		(321,469)		—		(321,469)
Distributions to noncontrolling interests	—		—		—		—		(193)		(193)
Balance at December 31, 2019	$	5,053,151	$	57,575	$	(35,036)	$	5,075,690	$	4,570	$	5,080,260
Net income	299,915		2,663		—		302,578		182		302,760
Other comprehensive income	—		—		3,468		3,468		—		3,468
Capital contribution from the General Partner	187,856		—		—		187,856		—		187,856
Stock-based compensation plan activity	8,905		9,833		—		18,738		—		18,738
Contributions from noncontrolling interests	—		—		—		—		200		200
Distributions to Partners ($0.96 per Common Unit)	(355,287)		(3,197)		—		(358,484)		—		(358,484)
Distributions to noncontrolling interests	—		—		—		—		(350)		(350)
Balance at December 31, 2020	$	5,194,540	$	66,874	$	(31,568)	$	5,229,846	$	4,602	$	5,234,448
Net income	852,895		8,354		—		861,249		369		861,618
Other comprehensive income	—		—		3,557		3,557		—		3,557
Capital contribution from the General Partner	406,576		—		—		406,576		—		406,576
Stock-based compensation plan activity	7,181		12,895		—		20,076		—		20,076
Issuance of Limited Partner Units	—		11,564		—		11,564		—		11,564
Conversion of Limited Partner Units	5,099		(5,099)		—		—		—		—
Redemption of Limited Partner Units	(42)		3		—		(39)		—		(39)
Distributions to Partners ($1.045 per Common Unit)	(394,487)		(3,912)		—		(398,399)		—		(398,399)
Distributions to noncontrolling interests	—		—		—		—		(440)		(440)
Balance at December 31, 2021	$	6,071,762	$	90,679	$	(28,011)	$	6,134,430	$	4,531	$	6,138,961

See accompanying Notes to Consolidated Financial Statements.

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(1)The Company

The General Partner was formed in 1985, and we believe that it qualifies as a REIT under the provisions of the Code. The Partnership was formed on October 4, 1993, when the General Partner contributed all of its properties and related assets and liabilities, together with the net proceeds from an offering of additional shares of its common stock, to the Partnership. Simultaneously, the Partnership completed the acquisition of Duke Associates, a full-service commercial real estate firm operating in the Midwest whose operations began in 1972.

The General Partner is the sole general partner of the Partnership, owning approximately 99.1% of the Common Units at December 31, 2021. The remaining 0.9% of the Common Units are owned by limited partners. As the sole general partner of the Partnership, the General Partner has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Partnership. The General Partner and the Partnership are operated as one enterprise. The management of the General Partner consists of the same members as the management of the Partnership. As the sole general partner with control of the Partnership, the General Partner consolidates the Partnership for financial reporting purposes, and the General Partner does not have any significant assets other than its investment in the Partnership. Therefore, the assets and liabilities of the General Partner and the Partnership are substantially the same.

Limited partners have the right to redeem their Limited Partner Units, subject to certain restrictions. Pursuant to the Partnership Agreement, the General Partner is obligated to redeem the Limited Partner Units in shares of its common stock, unless it determines in its reasonable discretion that the issuance of shares of its common stock could cause it to fail to qualify as a REIT. Each Limited Partner Unit shall be redeemed for one share of the General Partner's common stock, or, in the event that the issuance of shares could cause the General Partner to fail to qualify as a REIT, cash equal to the fair market value of one share of the General Partner's common stock at the time of redemption, in each case, subject to certain adjustments described in the Partnership Agreement. The Limited Partner Units are not required, per the terms of the Partnership Agreement, to be redeemed in registered shares of the General Partner.

As of December 31, 2021, we owned and operated a portfolio primarily consisting of industrial properties and provided real estate services to third-party owners, customers and joint ventures.

Substantially all of our Rental Operations (see Note 9) are conducted through the Partnership. We conduct our Service Operations (see Note 9) through Duke Realty Services, LLC, Duke Realty Services Limited Partnership and Duke Construction Limited Partnership ("DCLP"), which are consolidated entities that are 100% owned by a combination of the General Partner and the Partnership. DCLP is owned through a taxable REIT subsidiary.

(2)Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include our accounts and the accounts of our majority-owned or controlled subsidiaries. The equity interests in these controlled subsidiaries not owned by us are reflected as noncontrolling interests in the consolidated financial statements. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. Investments in entities that we do not control, and variable interest entities ("VIEs") in which we are not the primary beneficiary (to the extent applicable), are not consolidated and are reflected as investments in unconsolidated joint ventures under the equity method of reporting.

Due to the fact that the Limited Partners do not have kick out rights, or substantive participating rights, the Partnership is a VIE. Because the General Partner holds majority ownership and exercises control over every aspect of the Partnership's operations, the General Partner has been determined as the primary beneficiary of the Partnership and, therefore, consolidates the Partnership.

The assets and liabilities of the General Partner and the Partnership are substantially the same, as the General Partner does not have any significant assets other than its investment in the Partnership.

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Reclassifications

Certain amounts in the accompanying consolidated financial statements have been reclassified to conform to the 2021 consolidated financial statement presentation.

Real Estate Investments

Rental real property, including land, land improvements, buildings and tenant improvements, are included in real estate investments and are generally stated at cost. Construction in process and undeveloped land are included in real estate investments and are stated at cost. Real estate investments also include our equity interests in unconsolidated joint ventures that own and operate rental properties and hold land for development.

Depreciation

Buildings and land improvements are depreciated on the straight-line method over their estimated lives not to exceed 40 and 15 years, respectively, for properties that we develop, and not to exceed 30 and 10 years, respectively, for acquired properties. Tenant improvement costs are depreciated using the straight-line method over the shorter of the useful life of the asset or term of the related lease.

Cost Capitalization

Direct and certain indirect costs, including interest, clearly associated with the development, construction or expansion of real estate investments are capitalized as a cost of the property. Direct costs include all leasing commissions paid to third parties for new leases or lease renewals. We capitalize a portion of our indirect costs associated with our construction and development efforts. Costs that are incremental to executing a lease are capitalized. In assessing the amount of direct and indirect costs to be capitalized, allocations are made based on estimates of the actual amount of time spent in each activity. We do not capitalize any costs attributable to downtime or to unsuccessful projects.

We capitalize interest and direct and indirect project costs during the period when we commence activities necessary to get the property ready for its intended use, including land entitlement and preconstruction activities, up to the time the property is substantially complete and ready for its intended use. In addition, we capitalize costs, including real estate taxes, insurance and utilities, that have been allocated to vacant space based on the square footage of the portion of the building not held available for immediate occupancy during the extended lease-up periods after construction of the building shell has been completed if costs are being incurred to ready the vacant space for its intended use. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once necessary work has been completed on a vacant space, project costs are no longer capitalized.

We cease capitalization of all project costs on extended lease-up periods when significant activities have ceased, which does not exceed the shorter of a one-year period after the completion of the building shell or when the property attains 90% occupancy.

Impairment

We evaluate our real estate assets, with the exception of those that are classified as held-for-sale, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If such an evaluation is considered necessary, we compare the carrying amount of that real estate asset, or asset group, with the expected undiscounted cash flows that are directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of that asset, or asset group. Our estimate of the expected future cash flows used in testing for impairment is based on, among other things, our estimates regarding future market conditions, rental rates, occupancy levels, costs of tenant improvements, leasing commissions and other tenant concessions, assumptions regarding the residual value of our properties at the end of our anticipated holding period and the length of our anticipated holding period and is, therefore, subjective by nature. These assumptions could differ materially from actual results. If our strategy changes or if market conditions otherwise dictate a reduction in the holding period and an earlier sale date, an impairment loss could be recognized and such loss could be material.

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

To the extent the carrying amount of a real estate asset, or asset group, exceeds the associated estimate of undiscounted cash flows, an impairment loss is recorded to reduce the carrying value of the asset to its fair value.

The determination of the fair value of real estate assets is also highly subjective, especially in markets where there is a lack of recent comparable transactions. We primarily utilize the income approach to estimate the fair value of our income producing real estate assets. We utilize marketplace participant assumptions to estimate the fair value of a real estate asset when an impairment charge is required to be measured. The estimation of future cash flows, as well as the selection of the discount rate and exit capitalization rate used in applying the income approach, are highly subjective measures in estimating fair value.

Real estate assets classified as held-for-sale are reported at the lower of their carrying value or their fair value, less estimated costs to sell. Once a property is designated as held-for-sale, no further depreciation expense is recorded.

Asset Acquisitions

Our acquisitions of properties have been accounted for as asset acquisitions as they have not met the definition of a business. Transaction costs related to asset acquisitions are capitalized. To the extent that we gain control of real estate properties that are accounted for as asset acquisitions, as opposed to business combinations, we accumulate the costs of any pre-existing equity interests and consideration paid for additional interest acquired and we do not remeasure our pre-existing equity interest. Generally contingencies arising from an asset acquisition are only recognized when probable.

We allocate the purchase price of asset acquisitions to tangible and identified intangible assets based on their relative fair values, using all pertinent information available at the date of acquisition. Capitalized acquisition costs are also included in the total cost basis of acquired properties that are asset acquisitions. The allocation to tangible assets (buildings, tenant improvements and land) is based upon management's determination of the value of the property as if it were vacant. This “as-if vacant” value is estimated using an income, or discounted cash flow, approach that relies upon internally determined assumptions that we believe are consistent with current market conditions for similar properties. The most important assumptions in determining the allocation of the purchase price to tangible assets are the exit capitalization rate, estimated market rents and the fair value of the underlying land. The purchase price of real estate assets is also allocated to intangible assets consisting of the above or below market component of in-place leases and the value of in-place leases.

The value allocable to the above or below market component of an acquired in-place lease is determined based upon the present value (using a discount rate which reflects the risks associated with the acquired leases) of the difference between (i) the contractual amounts to be received pursuant to the lease over its remaining term and (ii) management's estimate of the amounts that would be received using fair market rates over the remaining term of the lease. The amounts allocated to above market leases are included in deferred leasing and other costs in the balance sheet and below market leases are included in other liabilities in the balance sheet; both are amortized to rental income over the remaining terms of the respective leases.

Factors considered in determining the value allocable to in-place leases include estimates, during hypothetical expected lease-up periods, of space that is actually leased at the time of acquisition, of lost rent at market rates, fixed operating costs that will be recovered from tenants and theoretical leasing commissions required to execute similar leases. These intangible assets are included in deferred leasing and other costs in the balance sheet and are amortized over the remaining term of the existing lease.

Joint Ventures

We have equity interests in unconsolidated joint ventures that are primarily engaged in the operation and development of industrial real estate properties.

We consolidate joint ventures that are considered to be VIEs where we are the primary beneficiary. We analyze our investments in joint ventures to determine if the joint venture is considered a VIE and would require consolidation. We (i) evaluate the sufficiency of the total equity investment at risk, (ii) review the voting rights and decision-making authority of the equity investment holders as a group and whether there are limited partners (or similar

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

owning entities) that lack substantive participating or kick out rights, guaranteed returns, protection against losses, or capping of residual returns within the group and (iii) establish whether activities within the venture are on behalf of an investor with disproportionately few voting rights in making this VIE determination.

To the extent that we own interests in a VIE and we (i) have the power to direct the activities that most significantly impact the economic performance of the VIE and (ii) have the obligation or rights to absorb losses or receive benefits that could potentially be significant to the VIE, then we would be determined to be the primary beneficiary and would consolidate the VIE. To the extent that we own interests in a VIE, then at each reporting period, we re-assess our conclusions as to which, if any, party within the VIE is considered the primary beneficiary. Consolidated joint ventures that are VIE's were not significant in any period presented in these consolidated financial statements.

To the extent that our joint ventures do not qualify as VIEs, they are consolidated if we control them through majority ownership interests or if we are the managing entity (general partner or managing member) and our partner does not have substantive participating rights. Control is further demonstrated by our ability to unilaterally make significant operating decisions, refinance debt and sell the assets of the joint venture without the consent of the non-managing entity and the inability of the non-managing entity to remove us from our role as the managing entity. Consolidated joint ventures that are not VIEs are not significant in any period presented in these consolidated financial statements.

We use the equity method of accounting for those joint ventures where we exercise significant influence but do not have control. Under the equity method of accounting, our investment in each joint venture is included on our balance sheet; however, the assets and liabilities of the joint ventures for which we use the equity method are not included on our balance sheet.

When we sell or contribute properties to unconsolidated joint ventures and retain a non-controlling ownership interest in such assets, we recognize the difference between the consideration received and the carrying amount of the asset sold or contributed when its derecognition criteria are met. The equity method investment we retain in such partial sale transactions is noncash consideration and is measured at fair value. As a result, the accounting for a partial sale results in the recognition of a full gain or loss.

When circumstances indicate there may have been a reduction in the value of an equity investment, we evaluate whether the loss in value is other than temporary. If we conclude it is other than temporary, we recognize an impairment charge to reflect the equity investment at fair value.

In July 2021, we entered into a 20%-owned unconsolidated joint venture with CBRE Global Investors ("CBREGI") with plans to contribute three tranches of properties. We contributed two separate tranches of properties to the joint venture during 2021 (see Note 5) while the third tranche was closed in January 2022 (see Note 14). The joint venture financed the acquisition of these properties with a combination of third party first mortgage loans and equity contributions from our partner in this joint venture.

There were no unconsolidated joint ventures, in which we have any recognized assets or liabilities or have retained any economic exposure to loss at December 31, 2021 that met the criteria to be considered VIEs. At December 31, 2021, we guaranteed the repayment of a loan associated with one of our unconsolidated joint ventures. The maximum guarantee exposure for the loan was approximately $4.8 million.

Cash Equivalents

Investments with an original maturity of three months or less are classified as cash equivalents.

Valuation of Receivables

Our determination of the adequacy of our allowances for tenant receivables includes a binary assessment of whether or not the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination.

Deferred Costs

Deferred Financing Costs

Costs incurred in connection with obtaining financing are deferred and are amortized to interest expense over the term of the related loan. The costs for issuing debt, other than lines of credit, are presented on the consolidated balance sheets as a direct deduction from the debt's carrying value, while debt issuance costs related to the Partnership's unsecured line of credit are presented as assets on the consolidated balance sheets, as part of other escrow deposits and other assets.

Lease Related Costs and Acquired Lease-Related Intangible Assets

Costs that are directly incremental to executing a lease are capitalized.

Acquired lease-related intangible assets consist of above market lease assets and the value allocable to in-place leases. Above market lease assets are amortized as a reduction to rental income over the remaining terms of the respective leases. In-place lease intangible assets are amortized on a straight-line basis and included within depreciation and amortization in the consolidated statements of operations and comprehensive income.

Deferred leasing costs and acquired lease-related intangible assets at December 31, 2021 and 2020, excluding amounts classified as held-for-sale, were as follows (in thousands):

	2021		2020
Deferred leasing costs	$	376,597	$	359,646
Acquired lease-related intangible assets	171,314		174,241
	$	547,911	$	533,887
Accumulated amortization - deferred leasing costs	$	(122,789)	$	(120,756)
Accumulated amortization - acquired lease-related intangible assets	(87,186)		(83,366)
Total	$	337,936	$	329,765

Amounts recorded related to amortization expense for in-place leases for the years ended December 31, 2021, 2020 and 2019 totaled $20.4 million, $19.5 million and $22.0 million, respectively. Charges to rental income related to the amortization of above market lease assets for the years ended December 31, 2021, 2020 and 2019 totaled $367,000, $639,000 and $703,000, respectively.

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The expected future amortization, or charge to rental income, of acquired lease-related intangible assets is summarized in the table below (in thousands):

Year	Amortization Expense		Charge to Rental Income
2022	$	18,168	$	352
2023	15,271		353
2024	11,986		59
2025	9,789		—
2026	7,574		—
Thereafter	20,576		—
	$	83,364	$	764

Noncontrolling Interests

Noncontrolling interests relate to the minority ownership interests in the Partnership and interests in consolidated property partnerships that are not wholly owned by the General Partner or the Partnership. Noncontrolling interests are subsequently adjusted for additional contributions, distributions to noncontrolling holders and the noncontrolling holders' proportionate share of the net earnings or losses of each respective entity. We report noncontrolling interests as a component of total equity.

When a Common Unit of the Partnership is redeemed (Note 1), the change in ownership is treated as an equity transaction by the General Partner and there is no effect on its earnings or net assets.

Revenue Recognition

Rental and Related Revenue

Rental income from leases to customers is recognized on a straight-line basis. If a lease provides for tenant improvements, we determine whether we or the tenant is the owner of the tenant improvements. When we are the owner of the tenant improvements, any tenant improvements funded by the tenant are treated as lease payments which are deferred and amortized as revenue over the lease term. When the tenant is the owner of the tenant improvements, and we fund such improvements, we record such tenant improvement allowances as lease incentives and amortize as a reduction of revenue over the lease term.

We record lease termination fees when a tenant has executed a definitive termination agreement with us and the payment of the termination fee is not subject to any material conditions that must be met or waived before the fee is due to us.

General Contractor and Service Fee Revenue

General contractor and service fee revenues are comprised primarily of construction and development related revenues earned from third parties while acting in capacity of a developer, as a general contractor or a construction manager. We evaluate the goods and services provided in these construction arrangements to determine whether we are acting as principal or agent and, accordingly, recognize revenue on a gross or net basis based on that evaluation. There are other ancillary streams of revenue included in general contractor and service fee revenues (see Note 9), such as management fees earned from unconsolidated joint ventures in accordance with the terms specific to each arrangement, which are not significant.

Our construction arrangements are typically structured with only one performance obligation, which generally represents an obligation either to construct a new building or to construct fixtures in an existing building, and these single performance obligations are satisfied over time as construction progresses. We recognize revenue as we satisfy such performance obligations using the percentage of completion method, which is an input method. Using this method, profits are recorded based on our estimates of the percentage of completion of individual contracts, commencing when the work performed under the contracts reaches a point where the final costs can be estimated with reasonable accuracy. The percentage of completion estimates are based on a comparison of the contract expenditures incurred to the estimated final costs. We believe the percentage of completion method is a faithful

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

depiction of the transfer of goods and services as changes in job performance and estimated profitability, which result in revisions to costs and income and are recognized in the period in which the revisions are determined, have not historically been significant. We typically receive regular progress payments on the majority of our construction arrangements and such arrangements generally have an original duration of less than one year. As the result of the relatively short duration of our construction arrangements, we apply the optional disclosure exemptions, related to our remaining performance obligations for our in-process construction projects, for which any future variable consideration is not material. Changes in job performance, job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined. To the extent that a fixed-price contract is estimated to result in a loss, the loss is recorded immediately.

Opening and closing balances of construction receivables are presented separately on the Consolidated Balance Sheets. Under billed and over billed receivables on construction contracts totaled $45.8 million and $1.9 million, respectively, at December 31, 2021 and $16.6 million and $105,000, respectively, at December 31, 2020. Over billed receivables are included in other liabilities in the Consolidated Balance Sheets. We generally do not have any contract assets associated with our construction arrangements.

Management fees are based on a percentage of rental receipts of properties managed and are recognized as the rental receipts are collected. Maintenance fees are based upon established hourly rates and are recognized as the services are performed.

Property Sales

Only disposals representing a strategic shift in operations (for example, a disposal of a major geographic area or a major line of business) should be presented as discontinued operations in accordance with ASC 205-20, without consideration of significant continuing involvement.

We recognize gains on sales of properties, including partial sales, of non-financial assets (and in-substance non-financial assets) when the recognition criteria are met. In the typical course of our business, sales of non-financial assets represent only one performance obligation and are recognized when an enforceable contract is in place, collectability is ensured and control is transferred to the buyer.

Leases

As a lessor, our primary business is the development, acquisition, and operation of industrial real estate properties that are held for investment and leased to tenants. We manage residual risk through investing in properties that we believe will appreciate in value over time. We also evaluate the collectability of the cash flows of our leases prior to their execution, and on an ongoing basis, to ensure collectability is probable prior to recognizing lease revenues on an accrual basis.

We only capitalize the incremental costs of signing a lease. Non-incremental costs attributable to successful leases, as presented in the Consolidated Statements of Operations, represent internal costs allocable to successful leasing activities and exclude estimated costs related to downtime and/or unsuccessful deals. These costs primarily consist of compensation and other benefits for internal leasing and legal personnel. These costs are not capitalizable "incremental costs" in the context of the applicable lease accounting rules, but we believe separate presentation on the Consolidated Statements of Operations provides useful information for purposes of comparability with economically similar success-based costs incurred by other organizations that outsource their leasing functions, which are generally capitalizable.

We exclude certain lessor costs, such as real estate taxes and insurance, that are paid directly by lessees to third parties, from rental revenue and the associated rental expense. Lessor costs that are paid by the lessor and reimbursed by the lessee continue to be recorded through rental revenue and the associated rental expense.

The applicable lease accounting rules allow a practical expedient for lessors to not separate rental recovery revenue related to lease-related services from the associated rental revenue related to the lease when certain criteria are met. The lease-related services provided to our tenants include property management, common area maintenance ("CAM") and utilities. We assessed the applicable criteria, concluding that the timing and straight-line pattern of

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

transfer to the lessees for rental recovery revenue from our lease-related services and revenue from the underlying leases are the same and that lease classification does not change, and we have consistently applied this practical expedient in all periods presented.

As a lessee, we apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset. This classification determines whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. In the capacity of a lessee, we record a right-of-use ("ROU") asset and a lease liability for all leases with a term of greater than 12 months regardless of classification.

See Note 3 for further disclosure on our leases as a lessor and lessee.

Net Income Per Common Share or Common Unit

Basic net income per common share or Common Unit is computed by dividing net income attributable to common shareholders or common unitholders, less dividends or distributions on share-based awards expected to vest (referred to as "participating securities" and primarily composed of unvested restricted stock units), by the weighted average number of common shares or Common Units outstanding for the period.

Diluted net income per common share is computed by dividing the sum of net income attributable to common shareholders and the noncontrolling interest in earnings allocable to Limited Partner Units (to the extent the Limited Partner Units are dilutive), less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, weighted average number of Limited Partner Units outstanding and any potential dilutive securities for the period. Diluted net income per Common Unit is computed by dividing the net income attributable to common unitholders, less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of Common Units outstanding and any potential dilutive securities for the period.

The following table reconciles the components of basic and diluted net income per common share or Common Unit (in thousands): 

	2021		2020		2019
General Partner
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972
Less: Dividends on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common shareholders	851,539		298,468		427,485
Add back dividends on dilutive participating securities	1,356		—		1,487
Noncontrolling interest in earnings of common unitholders	8,354		2,663		3,678
Diluted net income attributable to common shareholders	$	861,249	$	301,131	$	432,650
Weighted average number of common shares outstanding	377,673		370,057		362,234
Weighted average Limited Partner Units outstanding	3,708		3,303		3,118
Other potential dilutive shares	2,095		796		1,987
Weighted average number of common shares and potential dilutive securities	383,476		374,156		367,339
Partnership
Net income attributable to common unitholders	$	861,249	$	302,578	$	432,650
Less: Distributions on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common unitholders	$	859,893	$	301,131	$	431,163
Add back distributions on dilutive participating securities	1,356		—		1,487
Diluted net income attributable to common unitholders	$	861,249	$	301,131	$	432,650
Weighted average number of Common Units outstanding	381,381		373,360		365,352
Other potential dilutive units	2,095		796		1,987
Weighted average number of Common Units and potential dilutive securities	383,476		374,156		367,339

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands):

	2021	2020	2019
General Partner and Partnership
Other potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	—	—	—
Anti-dilutive outstanding participating securities	—	1,621	—

Federal Income Taxes

General Partner

The General Partner has elected to be taxed as a REIT under the Code, as amended. To qualify as a REIT, the General Partner must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of its REIT taxable income to its shareholders. Management intends to continue to adhere to these requirements and to maintain the General Partner's REIT status. As a REIT, the General Partner is entitled to a tax deduction for the dividends it pays to shareholders. Accordingly, the General Partner generally will not be subject to federal income taxes as long as it currently distributes to shareholders an amount equal to or in excess of its taxable income. The General Partner is, however, generally subject to federal income taxes on any taxable income that is not currently distributed to its shareholders. If the General Partner fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years.

REIT qualification reduces, but does not eliminate, the amount of state and local taxes we pay. In addition, our financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to federal, state and local income taxes. As a REIT, the General Partner may also be subject to certain federal excise taxes if it engages in certain types of transactions.

The following table reconciles the General Partner's net income to taxable income before the dividends paid deduction, and subject to the 90% distribution requirement, for the years ended December 31, 2021, 2020 and 2019 (in thousands): 

	2021		2020		2019
Net income	$	861,618	$	302,760	$	432,644
Book/tax differences	(467,205)		63,838		(120,421)
Taxable income before the dividends paid deduction	394,413		366,598		312,223
Less: capital gains	(33,652)		(62,165)		(62,513)
Adjusted taxable income subject to the 90% distribution requirement	$	360,761	$	304,433	$	249,710

The General Partner's dividends paid deduction is summarized below (in thousands): 

	2021		2020		2019
Cash dividends paid	$	394,487	$	355,287	$	318,702
Cash dividends declared and paid in subsequent year that apply to current year	26,886		22,960		6,521
Cash dividends declared and paid in current year that apply to previous year	(22,960)		(6,521)		(9,286)
Dividends paid deduction	398,413		371,726		315,937
Less: Capital gain distributions	(33,652)		(62,165)		(62,513)
Dividends paid deduction attributable to adjusted taxable income subject to the 90% distribution requirement	$	364,761	$	309,561	$	253,424

Our tax return for the year ended December 31, 2021 has not been filed. The taxability information presented for our dividends paid in 2021 is based upon management’s estimate. Consequently, the taxability of dividends is subject to change. A summary of the designated tax characterization of the dividends paid by the General Partner for the years ended December 31, 2021, 2020 and 2019 is as follows:

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

	2021		2020		2019
Common Shares
Ordinary income	91.5	%	74.6	%	80.7	%
Capital gains	8.5	%	25.4	%	19.3	%
	100.0	%	100.0	%	100.0	%

Partnership

For the Partnership, the allocated share of income and loss other than the operations of its taxable REIT subsidiary is included in the income tax returns of its partners; accordingly the only federal income taxes included in the accompanying consolidated financial statements of the Partnership are in connection with its taxable REIT subsidiary.

Income taxes are not material to our operating results or financial position. Our taxable REIT subsidiary has no significant net deferred income tax positions or unrecognized tax benefit items.

Cash Paid for Income Taxes

We paid federal, state and local income taxes, net of income tax refunds, of $22.2 million and $7.8 million in 2021 and 2019, respectively. We received income tax refunds, net of federal, state and local income tax payments, of $308,000 in 2020.

Fair Value Measurements

We estimate fair value using available market information and valuation methodologies. Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities to which we have access.

Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals.

Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity's own assumptions, as there is little, if any, related market activity.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Derivative Financial Instruments

We periodically enter into certain interest rate protection agreements to effectively convert or cap floating rate debt to a fixed rate, and to hedge anticipated future financing transactions, both of which qualify for cash flow hedge accounting treatment. We do not utilize derivative financial instruments for trading or speculative purposes. The entire effect of any hedging instruments and hedged items are presented in the same income statement line item.

If a derivative qualifies as a cash flow hedge, the gain or loss on the derivative is recorded in accumulated other comprehensive income or loss and subsequently reclassified into interest expense in the same period during which the hedged forecasted transaction affects earnings. For all hedging relationships, we formally document the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged item, the nature of the risk being hedged and how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Use of Estimates

The preparation of the financial statements requires management to make a number of estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

(3)Leases

Lease Income

Our leases generally include scheduled rent increases, but do not include variable payments based on indexes. Our rental revenue is primarily based on fixed, non-cancelable leases. Our variable rental revenue primarily consists of amounts recovered from lessees for property tax, insurance and CAM.

All revenues related to lease and lease-related services are included in, and comprise substantially all of, the caption "Rental and Related Revenue" on the Consolidated Statements of Operations and Comprehensive Income. The components of Rental and Related Revenue are as follows (in thousands):

	Twelve Months Ended December 31,
	2021		2020		2019
Rental revenue - fixed payments	$	764,574	$	692,753	$	645,759
Rental revenue - variable payments (1)	261,089		236,441		210,074
Rental and related revenue	$	1,025,663	$	929,194	$	855,833

(1) Primarily includes tenant recoveries for real estate taxes, insurance and CAM.

The future minimum rents due to us under non-cancelable operating leases are as follows (in thousands):

Year	December 31, 2021
2022	$	784,537
2023	769,715
2024	705,620
2025	630,618
2026	546,431
Thereafter	2,299,185
	$	5,736,106

Lessee Accounting

As of December 31, 2021, our lease arrangements, where we are the lessee, primarily consisted of office and ground leases. For these lease arrangements, we recognized ROU assets and the corresponding lease liabilities representing the discounted value of future lease payments required. In determining these amounts, we elected an available practical expedient that allows us, as a lessee, to not separate lease and non-lease components. Expenses recognized on these leases for the year ended December 31, 2021 were not material.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Our operating leases primarily include all of our office leases and two ground leases. As of December 31, 2021, a $36.8 million ROU asset associated with operating leases was included within Other Escrow Deposits and Other Assets and a corresponding lease liability of $41.4 million was included in Other Liabilities on our Consolidated Balance Sheets. As of December 31, 2020, total ROU assets and liabilities for operating leases were $38.9 million and $42.9 million, respectively. The following table summarizes the future lease payments (in thousands) to be made under non-cancellable operating lease arrangements:

Year	December 31, 2021
2022	$	4,617
2023	4,327
2024	3,433
2025	1,759
2026	1,644
Thereafter	81,487
Total undiscounted operating lease payments	$	97,267
Less: imputed interest	55,904
Present value of operating lease payments	$	41,363

The weighted average remaining lease term for our operating lease arrangements, on a combined basis as of December 31, 2021, was 34.3 years. The weighted average discount rate for our operating lease arrangements as of December 31, 2021 was 4.42%. As the discount rates implied in our operating lease arrangements were not readily determinable, we utilized our current credit ratings and credit yields observed from market traded securities with similar credit ratings to form a reasonable basis to establish secured borrowing rates when determining the present value of future operating lease payments.

Our finance leases include two long term ground leases. As of December 31, 2021, a $37.5 million ROU asset associated with finance leases was included within Other Escrow Deposits and Other Assets and a corresponding $39.2 million lease liability was included within Other Liabilities on our Consolidated Balance Sheets. As of December 31, 2020, total finance lease related ROU assets and liabilities were $19.2 million and $19.4 million, respectively. The future lease payments (in thousands) under our finance leases as of December 31, 2021 for five years and thereafter are as follows:

Year	December 31, 2021
2022	$	1,414
2023	1,714
2024	1,731
2025	1,762
2026	1,787
Thereafter	127,532
Total undiscounted finance lease payments	$	135,940
Less: imputed interest	96,746
Present value of finance lease payments	$	39,194

The ground lease payment obligation for one ground lease is subject to an annual consumer price index increase limited within a minimum 2% and a maximum 3% increase. The contractual obligations for both leases included above assume the minimum annual increase for the remainder of the lease term since we cannot predict future adjustments. The weighted average remaining lease term for our finance lease arrangements, on a combined basis as of December 31, 2021 was 54.2 years. The weighted average discount rate for our finance lease arrangements as of December 31, 2021 was 5.12%. The lessors' implicit rates in the leases were readily determinable when the leases were commenced.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(4)Restricted Cash

Restricted cash primarily consists of cash proceeds from dispositions but restricted only for qualifying like-kind exchange transactions and cash held in escrow related to acquisition and disposition holdbacks. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows (in thousands):

	December 31, 2021		December 31, 2020
Cash and cash equivalents	$	69,752	$	6,309
Restricted cash held in escrow for like-kind exchange	—		47,682
Restricted cash included in other escrow deposits and other assets	33,412		13,232
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	103,164	$	67,223

Restricted cash held in escrow for like-kind exchange on the Consolidated Balance Sheets consists of cash received from property dispositions intended to be used for qualifying like-kind exchange transactions.

(5)Acquisitions and Dispositions

Acquisitions and dispositions for the periods presented were completed in accordance with our strategy to reposition our investment concentration among the markets in which we operate and to increase our overall investment concentration in Coastal Tier 1 markets. Transaction costs related to asset acquisitions are capitalized.

Acquisitions

The following table summarizes our real estate acquisition activities for the years ended December 31 (dollars in thousands):

	2021		2020		2019
Buildings:
Number of buildings	8		10		6
Cash paid at time of acquisition	$	447,584	$	383,672	$	210,224
Land and other real estate assets:
Acres of land	536		250		517
Cash paid at time of acquisition (1)	$	700,632	$	248,413	$	388,202

(1) Includes the cash acquisition cost of other real estate investments totaling $163.7 million, $13.1 million and $160.4 million for the years ended December 31, 2021, 2020 and 2019, respectively. See Note 7 for information on other real estate investments.

During 2021, we acquired a container storage lot in Northern New Jersey for a combination of $64.0 million of cash and Limited Partner Units with a fair value of $11.6 million. This income producing acquisition is included as part of land and other real estate assets above and also included in the table below.

The following table summarizes amounts recognized for each major class of assets and liabilities (in thousands) for acquisitions of income producing properties during the years ended December 31:

	2021		2020		2019
Real estate assets	$	570,820	$	410,481	$	205,390
Lease related intangible assets	11,796		14,460		11,716
Total acquired assets	$	582,616	$	424,941	$	217,106
Secured debt	—		25,455		—
Below market lease liabilities	57,441		14,124		—

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The leases in the acquired properties had a weighted average remaining life at acquisition of approximately 11.0 years, 6.4 years and 6.5 years during 2021, 2020 and 2019, respectively.

Distribution of Joint Venture Properties

As part of a plan of dissolution, we received a non-cash distribution of real estate assets from two 50%-owned unconsolidated joint ventures. These joint ventures distributed their ownership in two in-service properties and certain parcels of undeveloped land to our partner, who shares control with us over both joint ventures, while distributing their ownership interest in an in-service property, a property under construction and a parcel of undeveloped land to us. These distributions were based on values negotiated between us and our partner on an arms-length basis and we determined that these negotiated values represented the fair value of the assets at their highest and best use, as determined from the perspective of a market participant. Concurrent with these asset distributions, both we and our partner assumed and repaid all of the joint ventures' unsecured debt, with each party paying off an amount necessary for the value of the assets distributed, net of debt repayments, to be equal.

As the result of this dissolution transaction, we recognized a gain of $10.6 million (included in equity in earnings in the Consolidated Statements of Operations), which was related to the properties distributed to our partner. We did not recognize a gain to remeasure our existing ownership interest in the assets we received in distribution and we recognized such assets at a combined basis of $52.2 million in the Consolidated Balance Sheets (not included in the 2021 Acquisitions table above). We assumed and immediately repaid unsecured debt of the joint ventures totaling $40.2 million.

Fair Value Measurements

We determine the fair value of the individual components of income producing real estate asset acquisitions primarily through calculating the "as-if vacant" value of a building, using an income approach, which relies significantly upon internally determined assumptions. We have determined that these estimates primarily rely on Level 3 inputs, which are unobservable inputs based on our own assumptions. The most significant assumptions used in calculating the "as-if vacant" value for acquisition activity during 2021 and 2020, respectively, are as follows:

	2021		2020
	Low	High	Low	High
Exit capitalization rate	3.50%	5.00%	3.98%	5.46%
Annual net rental rate per square foot on acquired buildings	$6.62	$17.16	$5.28	$18.11
Annual net rental rate per acre on acquired ground lease	$182,136	$182,136	$—	$—

The estimate of the portion of the "as-if vacant" value that is allocated to the land underlying the acquired real estate relies on Level 3 inputs and is primarily determined by reference to recent comparable transactions.

Capitalized acquisition costs were insignificant and the fair value of net assets acquired from unrelated parties during the year ended December 31, 2021 was substantially the same as the cost of acquisition.

Dispositions

Dispositions of buildings (see Note 7 for the number of buildings sold in each year) and undeveloped land generated net cash proceeds of $1.07 billion, $336.3 million and $432.7 million in 2021, 2020 and 2019, respectively.

On July 22, 2021, we closed on the sale of 14 wholly-owned buildings and 15 acres of undeveloped land, for net cash proceeds of $286.3 million, which completed our previously announced exit from the St. Louis market. This sale did not represent a strategic shift in operations.

In addition, in July 2021 we entered into a 20%-owned unconsolidated joint venture with plans to contribute three tranches of properties for a total of nine properties. Pursuant to the terms of the joint venture, on July 27, 2021, we contributed to the joint venture the first tranche of three properties, which consisted of two buildings and one trailer storage lot in Chicago and Atlanta, for net cash proceeds of $115.7 million. On September 21, 2021, we contributed

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

the second tranche of three properties, which consisted of two buildings and one trailer storage lot in Baltimore, to the joint venture for net cash proceeds of $172.9 million. The joint venture financed the acquisition of these properties with a combination of third party first mortgage loans and equity contributions from our partner. we received $41.1 million for our ownership share of proceeds from such third party first mortgage loans, which was included in capital distributions from unconsolidated joint ventures in the Consolidated Statements of Cash Flows for the year ended December 31, 2021. We closed on the contribution of the third tranche in January 2022 (see Note 14).

During 2020, we collected the remaining $110.0 million of principal on our outstanding notes receivable, which was related to the sale of our medical office portfolio during 2017.

In September 2019, we completed the sale of 18 non-strategic industrial properties for $217.5 million in proceeds and recorded a gain on sale of $146.3 million. These properties totaled 4.1 million square feet and were located in primarily Midwest markets.

All other dispositions were not individually material.

(6)Investments in Unconsolidated Joint Ventures

Summarized Financial Information

As of December 31, 2021, we had equity interests in nine unconsolidated joint ventures that primarily own and operate rental properties.

Combined summarized financial information for the unconsolidated joint ventures at December 31, 2021 and 2020, and for the years ended December 31, 2021, 2020 and 2019, are as follows (in thousands):

	2021		2020		2019
Rental revenue	$	67,142	$	57,952	$	59,905
Gains on land and property sales - continuing operations	$	64,480	$	2,076	$	24,099
Net income	$	85,323	$	19,183	$	40,134
Equity in earnings of unconsolidated joint ventures	$	32,804	$	11,944	$	31,406
Land, buildings and tenant improvements, net	$	625,206	$	321,803
Construction in progress	31,745		23,507
Undeveloped land	3,326		23,653
Other assets	106,521		79,842
	$	766,798	$	448,805
Indebtedness	$	286,430	$	155,539
Other liabilities	45,580		31,946
	332,010		187,485
Owners' equity	434,788		261,320
	$	766,798	$	448,805
Investments in and advances to unconsolidated joint ventures (1)	$	168,336	$	131,898

(1) Differences between the net investment in our unconsolidated joint ventures and our underlying equity in the net assets of the ventures are primarily a result of basis differences associated with the sales of properties to joint ventures in which we retained an ownership interest. These adjustments have resulted in an aggregate difference increasing our investments in unconsolidated joint ventures by $3.8 million and $2.7 million as of December 31, 2021 and 2020, respectively. Differences between historical cost basis and the basis reflected at the joint venture level (other than loans and impairments) are typically depreciated over the life of the related asset.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The scheduled principal payments of long term debt for the unconsolidated joint ventures, at our ratable ownership percentage, for each of the next five years and thereafter as of December 31, 2021 are as follows (in thousands):

Year	Future Repayments
2022	$	121
2023	126
2024	2,525
2025	30,885
2026	47,341
Thereafter	—
	$	80,998

During 2021, a 20% owned joint venture partially financed acquisitions of properties from us with third party mortgage loans and our proportional share of such borrowings was $41.5 million with maturity dates in 2026 (see Note 5). In January 2022, this unconsolidated joint venture financed an additional acquisition of assets from us with $34.0 million, at our proportional share, of third party mortgage loans that mature in 2025 (see Note 14).

(7)Real Estate Assets, Discontinued Operations and Assets Held-for-Sale

Real Estate Assets

Real estate assets, excluding assets held-for-sale, consisted of the following (in thousands):

	December 31, 2021		December 31, 2020
Buildings and tenant improvements	$	6,007,848	$	5,812,004
Land and improvements	3,435,591		2,883,674
Other real estate investments (1)	172,637		49,477
Real estate assets	$	9,616,076	$	8,745,155

(1) Includes underutilized in-fill sites, which may have had buildings/structures on site when we acquired them, that are either (i) under lease to a third party and, after the lease ends, are expected to be redeveloped or will require significant capital expenditures before re-leasing; or (ii) industrial/logistics properties that we intend to re-lease after significant retrofitting and/or environmental remediation is completed. The leases on these assets are usually short term in nature.

Allocation of Noncontrolling Interests - General Partner

The following table illustrates the General Partner's share of the income attributable to common shareholders from continuing operations and discontinued operations, reduced by the allocation of income between continuing and discontinued operations to noncontrolling interests, for the years ended December 31, 2021, 2020 and 2019, respectively (in thousands):

	2021		2020		2019
Income from continuing operations attributable to common shareholders	$	852,895	$	299,805	$	428,531
Income from discontinued operations attributable to common shareholders	—		110		441
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972

Allocation of Noncontrolling Interests - Partnership

Substantially all of the income from discontinued operations for all periods presented in the Partnership's Consolidated Statements of Operations and Comprehensive Income is attributable to the common unitholders.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Assets Sold or Held-for-Sale

The following table illustrates the number of sold or held-for-sale properties:

	Held-for-Sale at December 31, 2021	Sold in 2021	Sold in 2020	Sold in 2019	Total
Properties sold or classified as held-for-sale	3	30	7	28	68

These held-for-sale properties were wholly-owned and leased by our largest tenant, which was the third tranche of assets to be contributed to a 20% owned unconsolidated joint venture (see Note 5). The contribution was closed in January 2022 (see Note 14).

At December 31, 2021, three in-service properties were classified as held-for-sale, but did not meet the criteria to be classified within discontinued operations. The following table illustrates aggregate balance sheet information for properties held-for-sale (in thousands):

	Held-for-Sale Properties Included in Continuing Operations
	December 31, 2021		December 31, 2020
Land and improvements	$	67,818	$	27,954
Buildings and tenant improvements	102,867		44,800
Accumulated depreciation	(36,785)		(5,976)
Deferred leasing and other costs, net	5,392		936
Other assets	5,359		232
Total assets held-for-sale	$	144,651	$	67,946
Accrued expenses	$	43	$	660
Other liabilities	6,235		7,080
Total liabilities held-for-sale	$	6,278	$	7,740

(8)Indebtedness

All debt is issued directly or indirectly by the Partnership. The General Partner does not have any indebtedness, but does guarantee some of the unsecured debt of the Partnership.

Indebtedness at December 31, 2021 and 2020 consists of the following (in thousands):

	Maturity Date	Weighted Average Interest Rate		Weighted Average Interest Rate
		2021		2020		2021		2020
Fixed rate secured debt	2025 to 2035	4.51	%	4.56	%	$	58,422	$	62,817
Variable rate secured debt	2025	0.12	%	0.08	%	1,300		1,600
Unsecured debt	2024 to 2050	3.00	%	3.35	%	3,675,000		3,058,740
Unsecured line of credit	2026	—	%	1.03	%	—		295,000
						$	3,734,722	$	3,418,157
Less: Deferred financing costs						45,440		33,106
Total indebtedness as reported on consolidated balance sheets						$	3,689,282	$	3,385,051

Secured Debt

At December 31, 2021, our secured debt was collateralized by rental properties with a carrying value of $158.9 million and by a letter of credit in the amount of $1.3 million.

The fair value of our fixed rate secured debt at December 31, 2021 was $60.0 million. Because our fixed rate secured debt is not actively traded in any marketplace, we utilized a discounted cash flow methodology to determine

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

its fair value. Accordingly, we calculated fair value by applying an estimate of the current market rate to discount the debt's remaining contractual cash flows. Our estimate of a current market rate, which is the most significant input in the discounted cash flow calculation, is intended to replicate debt of similar maturity and loan-to-value relationship. The estimated market rates for all of our current fixed rate secured debt are between 2.40% and 2.90%, depending on the attributes of the specific loans. The current market rates we utilized were internally estimated; therefore, we have concluded that our determination of fair value for our fixed rate secured debt was primarily based upon Level 3 inputs.

In February 2020, a consolidated joint venture obtained an $18.4 million secured loan from a third party financial institution, with a fixed annual interest rate of 3.41% and a maturity date of March 1, 2035.

In September 2020, we assumed two secured loans in conjunction with a two-building asset acquisition. These assumed loans had a total face value of $21.5 million and fair value of $25.5 million. These assumed loans had a weighted average remaining term at acquisition of 11.8 years and carried a weighted average stated interest rate of 4.54%. The difference between the fair value and the face value of loans assumed in connection with the acquisition is recorded as a premium and amortized to interest expense over the life of the loans assumed. We used an estimated market interest rate of 2.50% in determining the fair values of these loans.

During 2020, we repaid one fixed rate secured loan, totaling $9.0 million, which had a stated interest rate of 5.61%.

Unsecured Debt

At December 31, 2021, all of our unsecured debt bore interest at fixed rates and primarily consisted of unsecured notes that are publicly traded. We utilized broker estimates in estimating the fair value of our fixed rate unsecured debt. The broker estimates took into account any recent trades within the same series of our fixed rate unsecured debt, comparisons to recent trades of other series of our fixed rate unsecured debt, trades of fixed rate unsecured debt from companies with profiles similar to ours, as well as overall economic conditions. We reviewed these broker estimates for reasonableness and accuracy, considering whether the estimates were based upon market participant assumptions within the principal and most advantageous market and whether any other observable inputs would be more accurate indicators of fair value than the broker estimates. We concluded that the broker estimates were representative of fair value. We have determined that our estimation of the fair value of our fixed rate unsecured debt was primarily based upon Level 3 inputs. The estimated trading values of our fixed rate unsecured debt, depending on the maturity and coupon rates, ranged from 95.00% to 125.00% of face value.

The indentures (and related supplemental indentures) governing our outstanding series of unsecured notes also require us to comply with financial ratios and other covenants regarding our operations. We were in compliance with all such financial covenants at December 31, 2021.

We took the following actions during 2021 and 2020 as they pertain to our unsecured indebtedness:

•In November 2021, the Partnership issued $500.0 million of senior unsecured notes that bear a stated interest rate of 2.25%, have an effective interest rate of 2.38% and mature on January 15, 2032. Proceeds from this unsecured notes offering will be allocated to finance or refinance eligible green projects.

•In August 2021, we redeemed $250.0 million of 3.63% senior unsecured notes due April 2023. We recognized a loss of $13.9 million in connection with the redemption of these notes including the prepayment premium and write-off of unamortized deferred financing costs.

•In June 2021, we redeemed $83.7 million of 3.88% senior unsecured notes due October 2022. In connection with the early repayment of these notes, we recognized a loss of $3.9 million, including the prepayment premium and the write-off of unamortized deferred financing costs.

•In January 2021, the Partnership issued $450.0 million of senior unsecured notes that bear a stated interest rate of 1.75%, have an effective interest rate of 1.83%, and mature on February 1, 2031. Proceeds from the unsecured notes offering were allocated to finance or refinance eligible green projects. In addition, in January 2021, the Partnership assumed and immediately repaid $40.2 million of unsecured debt related to the assets received as part of the dissolution of unconsolidated joint ventures (see Note 5).

•In June 2020, we issued $350.0 million of senior unsecured notes, which bear interest at a stated interest rate of 1.75%, have an effective interest rate of 1.85% and mature on July 1, 2030. Proceeds from the unsecured notes offering were primarily used to repurchase and cancel $216.3 million of 3.88% senior

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

unsecured notes due 2022 pursuant to a tender offer completed by the Partnership in June 2020. In connection with the early cancellation of these notes, we recognized a loss of $15.1 million consisting of a repayment premium and the write-off of unamortized deferred financing costs.

•In February 2020, we issued $325.0 million of senior unsecured notes that bear interest at a stated interest rate of 3.05%, have an effective interest rate of 3.19%, and mature on March 1, 2050. Proceeds from the unsecured notes offering were primarily used to repay the $300.0 million of senior unsecured notes bearing a stated interest rate of 4.38% due 2022. In connection with the early redemption of these notes, we recognized a loss of $17.8 million consisting of a prepayment premium and the write-off of unamortized deferred financing costs.

Unsecured Line of Credit

Our unsecured line of credit at December 31, 2021 is described as follows (in thousands):

				Outstanding Balance at
Description	Borrowing Capacity		Maturity Date	December 31, 2021
Unsecured Line of Credit – Partnership	$	1,200,000	March 31, 2025	$	—

In March 2021, the Partnership amended and restated its existing $1.20 billion unsecured line of credit, which was set to mature in January 2022 with with options to extend until January 30, 2023. The amended and restated line of credit bears interest at one-month LIBOR plus 0.775% with a reduction in borrowing costs if certain sustainability linked metrics are achieved each year. In addition, the amended and restated line of credit matures on March 31, 2025 with options to extend until March 31, 2026. Subject to certain conditions, the terms also include an option to increase the facility by up to an additional $800.0 million, for a total of up to $2.00 billion. This line of credit provides us with an option to obtain borrowings from financial institutions that participate in the line at rates that may be lower than the stated interest rate, subject to certain restrictions. The line of credit also allows automatic transition to an alternative rate of interest in the event that the one-month LIBOR ceases to publish and needs to be replaced. As a result of amending and restating the unsecured line of credit, we incurred $6.2 million of deferred financing costs through December 31, 2021.

This line of credit contains financial covenants that require us to meet certain financial ratios and defined levels of performance, including those related to fixed charge coverage, unsecured interest expense coverage and debt-to-asset value (with asset value being defined in the Partnership's unsecured line of credit agreement). At December 31, 2021, we were in compliance with all financial covenants under this line of credit.

We utilized a discounted cash flow methodology in order to estimate the fair value of outstanding borrowings on our unsecured line of credit. To the extent that credit spreads have changed since the origination of the line of credit, the net present value of the difference between future contractual interest payments and future interest payments based on our estimate of a current market rate would represent the difference between the book value and the fair value. This estimate of a current market rate is based upon the rate, considering current market conditions and our specific credit profile, at which we estimate we could obtain similar borrowings. As our credit spreads have not changed appreciably, we believe that the contractual interest rate and the current market rate on any outstanding borrowings on the line of credit are the same. The current market rate is internally estimated and therefore is primarily based upon a Level 3 input.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Changes in Fair Value

As all of our fair value debt disclosures relied primarily on Level 3 inputs, the following table summarizes the book value and changes in the fair value of our debt for the year ended December 31, 2021 (in thousands): 

	Book Value at 12/31/2020		Book Value at 12/31/2021		Fair Value at 12/31/2020		Issuances and Assumptions		Payments/Payoffs		Adjustments to Fair Value		Fair Value at 12/31/2021
Fixed rate secured debt	$	62,817	$	58,422	$	65,848	$	—	$	(4,113)	$	(1,746)	$	59,989
Variable rate secured debt	1,600		1,300		1,600		—		(300)		—		1,300
Unsecured debt	3,058,740		3,675,000		3,387,913		990,226		(373,966)		(224,708)		3,779,465
Unsecured line of credit	295,000		—		295,000		—		(295,000)		—		—
Total	$	3,418,157	$	3,734,722	$	3,750,361	$	990,226	$	(673,379)	$	(226,454)	$	3,840,754
Less: Deferred financing costs	33,106		45,440
Total indebtedness as reported on the consolidated balance sheets	$	3,385,051	$	3,689,282

Scheduled Maturities and Interest Paid

At December 31, 2021, the scheduled amortization and maturities of all indebtedness, excluding fair value adjustment, for the next five years and thereafter were as follows (in thousands):

Year	Amount
2022	$	4,646
2023	4,893
2024	305,155
2025	5,102
2026	378,238
Thereafter	3,033,158
	$	3,731,192

The amount of interest paid in 2021, 2020 and 2019 was $107.9 million, $104.6 million and $111.8 million, respectively. The amount of interest capitalized in 2021, 2020 and 2019 was $35.0 million, $24.3 million and $26.5 million, respectively.

(9)Segment Reporting

Reportable Segments

As of December 31, 2021, we had two reportable operating segments, the first consisting of the ownership and rental of industrial real estate investments. We continue to increase our investments in quality industrial properties largely based on anticipated geographic trends in supply and demand for industrial buildings, as well as the real estate needs of our major tenants that operate on a national level. We treat our industrial properties as a single operating and reportable segment based on our method of internal reporting. Properties not included in this reportable segment, because they are not industrial properties and do not by themselves meet the quantitative thresholds for separate presentation as a reportable segment, are generally referred to as non-reportable Rental Operations. Our non-reportable Rental Operations primarily include our remaining office properties and medical office property at December 31, 2021. The operations of our industrial properties, as well as our non-reportable Rental Operations, are collectively referred to as "Rental Operations."

Our second reportable segment consists of various real estate services such as development, general contracting, construction management, property management, asset management, maintenance and leasing to third-party property customers, owners and joint ventures, and is collectively referred to as "Service Operations." The Service Operations segment is identified as one single operating segment because the lowest level of financial results reviewed by our chief operating decision maker are the results for the Service Operations segment in total.  Further,

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

our reportable segments are managed separately because each segment requires different operating strategies and management expertise.

Revenues by Reportable Segment

The following table shows the revenues for each of the reportable segments, as well as a reconciliation to consolidated revenues, for the years ended December 31, 2021, 2020 and 2019 (in thousands):

	2021		2020		2019
Revenues
Rental Operations:
Industrial	$	1,019,342	$	921,612	$	848,806
Non-reportable Rental Operations	5,506		5,995		5,794
Service Operations	80,260		64,004		117,926
Total segment revenues	1,105,108		991,611		972,526
Other revenue	815		1,587		1,233
Consolidated revenue	$	1,105,923	$	993,198	$	973,759

Major Customer

The table below shows the revenues from a major customer from each of our reportable segments (in thousands):

	Twelve Months Ended December 31,
	2021		2020		2019
Revenues
Rental Operations - Industrial	$	91,495	$	92,986	$	63,805
Service Operations	30,315		32,771		45,177

We generated more than 10% of our total revenues from this customer for the year ended December 31, 2021. Revenues from Rental Operations related to leasing properties to this customer. Revenues from Service Operations for this customer pertained primarily to general contractor and fee based construction management services.

Supplemental Performance Measure

PNOI is the non-GAAP supplemental performance measure that we use to evaluate the performance of, and to allocate resources among, the real estate investments in the reportable and operating segments that comprise our Rental Operations. PNOI for our Rental Operations segments is comprised of rental revenues from continuing operations less rental expenses and real estate taxes from continuing operations, along with certain other adjusting items (collectively referred to as "Rental Operations revenues and expenses excluded from PNOI," as shown in the following table). Additionally, we do not allocate interest expense, depreciation expense and certain other non-property specific revenues and expenses (collectively referred to as "Non-Segment Items," as shown in the following table) to our individual operating segments.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

We evaluate the performance of our Service Operations reportable segment using net income or loss, as allocated to that segment ("Earnings from Service Operations").The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes, for the years ended December 31, 2021, 2020 and 2019 (in thousands and excluding discontinued operations):

	2021		2020		2019
PNOI
Industrial	$	706,956	$	611,217	$	550,399
Non-reportable Rental Operations	5,227		5,020		3,811
PNOI, excluding all sold properties	712,183		616,237		554,210
PNOI from sold properties included in continuing operations	24,834		49,574		63,911
PNOI, continuing operations	737,017		665,811		618,121
Earnings from Service Operations	12,142		6,028		6,360
Rental Operations revenues and expenses excluded from PNOI:
Straight-line rental income and expense, net	32,081		25,865		21,197
Revenues related to lease buyouts	323		2,863		1,611
Amortization of lease concessions and above and below market rents	12,368		8,984		7,802
Intercompany rents and other adjusting items	(2,704)		(1,473)		1,012
Non-Segment Items:
Equity in earnings of unconsolidated joint ventures	32,804		11,944		31,406
Interest expense	(84,843)		(93,442)		(89,756)
Depreciation and amortization expense	(362,148)		(353,013)		(327,223)
Gain on sale of properties	585,685		127,700		234,653
Impairment charges	—		(5,626)		—
Interest and other income, net	4,451		1,721		9,941
General and administrative expenses	(69,554)		(62,404)		(60,889)
Gain on land sales	12,917		10,458		7,445
Other operating expenses	(3,607)		(8,209)		(5,318)
Loss on extinguishment of debt	(17,901)		(32,900)		(6,320)
Gain on involuntary conversion	3,222		4,312		2,259
Non-incremental costs related to successful leases	(13,302)		(12,292)		(12,402)
Other non-segment revenues and expenses, net	1,216		1,210		986
Income from continuing operations before income taxes	$	880,167	$	297,537	$	440,885

The most comparable GAAP measure to PNOI is income from continuing operations before income taxes. PNOI excludes expenses that materially impact our overall results of operations and, therefore, should not be considered as a substitute for income from continuing operations before income taxes or any other measures derived in accordance with GAAP. Furthermore, PNOI may not be comparable to other similarly titled measures of other companies.

Assets by Reportable Segment

 The assets for each of the reportable segments at December 31, 2021 and 2020 were as follows (in thousands):

	December 31, 2021		December 31, 2020
Assets
Rental Operations:
Industrial	$	9,887,635	$	8,709,960
Non-reportable Rental Operations	33,702		35,292
Service Operations	182,979		160,194
Total segment assets	10,104,316		8,905,446
Non-segment assets	341,339		205,948
Consolidated assets	$	10,445,655	$	9,111,394

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

In addition to revenues and PNOI, we also review our second generation capital expenditures in measuring the performance of our individual Rental Operations segments. We review these expenditures to determine the costs associated with re-leasing vacant space and maintaining the condition of our properties. Our second generation capital expenditures are included within "second generation tenant improvements, leasing costs and building improvements" in our consolidated statements of Cash Flows and are primarily attributable to the industrial segment for the years ended December 31, 2021, 2020 and 2019.

(10)Employee Benefit Plans

We maintain a 401(k) plan for our eligible employees. We make matching contributions of 50% of the employee salary deferral contributions up to 6% of eligible compensation and may also make annual discretionary contributions. A discretionary contribution was declared at the end of 2021, 2020 and 2019. The total expense recognized for this plan was $2.6 million, $2.2 million and $2.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Effective January 1, 2022, we have increased the matching contribution of 50% of employee salary deferral contributions to up to 10% of employees' eligible compensation.

(11)Shareholders' Equity of the General Partner and Partners' Capital of the Partnership

General Partner

The General Partner has an at the market ("ATM") equity program that allows it to issue and sell its common shares through sales agents from time to time. Actual sales under the ATM equity program depend on a variety of factors to be determined by the General Partner, including, among others, market conditions, the trading price of the General Partner’s common stock, determinations by the General Partner of the appropriate sources of funding and potential uses of funding available.

In February 2021, the General Partner terminated its previous equity distribution agreement for the ATM equity program and entered into a new equity distribution agreement pursuant to which the General Partner may sell from time to time up to an aggregate offering price of $400.0 million of its common stock through sales agents or forward sellers. No forward sales were executed in 2021 and substantially all of the capacity of this ATM program was utilized as of December 31, 2021.

During 2021, the General Partner issued 8.2 million common shares pursuant to its ATM equity programs, generating gross proceeds of $408.3 million and, after deducting commissions and other costs, net proceeds of $403.6 million. The proceeds from these offerings were contributed to the Partnership and used to fund development activities.

During 2020, the General Partner issued 4.6 million common shares pursuant to its ATM equity programs, generating gross proceeds of $177.1 million and, after deducting commissions and other costs, net proceeds of $175.0 million. The proceeds from these offerings were contributed to the Partnership and used to fund development activities.

During 2019, the General Partner issued 8.0 million common shares pursuant to its ATM equity program, generating gross proceeds of approximately $266.3 million and, after deducting commissions and other costs, net proceeds of approximately $263.3 million. The proceeds from these offerings were contributed to the Partnership and used to fund development activities.

Partnership

For each common share or preferred share that the General Partner issues, the Partnership issues a corresponding General Partner Unit or Preferred Unit, as applicable, to the General Partner in exchange for the contribution of the proceeds from the stock issuance. Similarly, when the General Partner redeems or repurchases common shares or preferred shares, the Partnership redeems the corresponding General Partner Units or Preferred Units held by the General Partner at the same price.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(12)Stock Based Compensation

We are authorized to issue up to 9.7 million shares of the General Partner's common stock under our stock-based employee and non-employee compensation plans. Executive officers may elect to receive Long-Term Incentive Plan Units ("LTIP Units"), which represent an interest in the Partnership, in lieu of stock based compensation awards denominated in the General Partner's common stock.

Restricted Stock Units ("RSUs")

Under our 2015 Long-Term Incentive Plan, which was approved by the General Partner's shareholders in April 2015, and our 2015 Non-Employee Directors Compensation Plan (collectively, the "Compensation Plans"), RSUs may be granted to non-employee directors, executive officers and selected employees. An RSU is economically equivalent to a share of the General Partner's common stock, and RSUs are valued based on the market price of the General Partner's common stock on the date of the award. Amounts disclosed below include both RSUs and any elected LTIP Units, which have the same vesting schedule as RSUs.

RSUs granted to employees from 2015 to 2021 vest ratably in most cases over a three-year period and are payable in shares of our common stock with a new share of such common stock issued upon each RSU's vesting. RSUs granted to existing non-employee directors vest 100% over one year and have contractual lives of one year.

To the extent that a recipient of an RSU grant is not determined to be retirement eligible, as defined by the Compensation Plans, we recognize expense on a straight-line basis over the vesting period. Expense is recognized immediately at the date of grant to the extent a recipient is retirement eligible and expense is accelerated to the extent that a participant will become retirement eligible prior to the end of the contractual life of granted RSUs.

The following table summarizes transactions for our unvested RSUs, excluding dividend equivalents, for 2021: 

Restricted Stock Units	Number of RSUs	Weighted Average Grant-Date Fair Value
December 31, 2020	678,803	$32.98
Granted in 2021	322,227	$42.15
Vested in 2021	(368,428)	$31.66
Forfeited in 2021	(41,760)	$37.47
December 31, 2021	590,842	$38.49

Compensation cost recognized for RSUs totaled $12.5 million, $12.1 million and $11.0 million for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, there was $6.3 million of total unrecognized compensation expense related to nonvested RSUs granted under the Plan, which is expected to be recognized over a weighted average period of 1.7 years.

The total intrinsic value (which is equal to the value of a share of the General Partner's common stock on the date of vesting) of RSUs vested during the years ended December 31, 2021, 2020 and 2019 was $11.7 million, $15.4 million and $17.7 million, respectively.

The weighted average grant-date fair value of RSUs granted during 2020 and 2019 was $37.28 and $29.98, respectively.

The weighted average grant-date fair value of nonvested RSUs as of December 31, 2019 was $27.73.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Performance-Based Awards

A portion of the annual stock-based compensation awards granted to our executive officers annually include performance conditions, measured over a three-year performance period, based on pre-established goals for growth in a defined adjusted funds from operations (“AFFO”) metric. These performance-based awards disclosed below include awards denominated in both common shares of the General Partner or LTIP Units. The total number of instruments issued at the end of each performance period may be earned in a range from 0% to 200% of the target value of the award depending on our AFFO performance relative to the pre-established goals.

To the extent that a recipient of these performance-based awards is not determined to be retirement eligible, as defined by the Compensation Plans, we recognize expense on a straight-line basis over the performance period based on the most likely payout percentage at each reporting period for each grant to the extent that a payout is determined to be probable. Expense is recognized immediately at the date of grant, based on the most likely payout percentage to the extent that a payout is determined to be probable, when a recipient is retirement eligible, and expense is accelerated to the extent that a participant will become retirement eligible prior to the end of the performance period of an award.

Details on the unvested amounts of these annual grants by performance period are as follows:

Performance-Based Awards	Unvested Awards Outstanding	Unvested Weighted Average Grant Date Fair Value
Unvested awards at December 31, 2020	207,712	$33.58
Above target performance adjustment	105,416	$29.98
Vested in 2021	(210,832)	$29.98
Granted in 2021	97,527	$42.07
Unvested awards at December 31, 2021	199,823	$39.62

A summary of vested performance-based awards that are denominated in LTIP units is as follows:

	Vested LTIP Awards Outstanding
Vested Awards at December 31, 2020	322,569
Vested in 2021	148,518
Completed holding period in 2021	(142,324)
Vested Awards at December 31, 2021	328,763

Compensation cost recognized for these performance-based awards totaled $8.5 million, $7.8 million and $6.2 million for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, there was $760,000 of total unrecognized compensation expense related to nonvested performance-based awards, which is expected to be recognized over a weighted average period of 1.5 years.

The weighted average grant-date fair value, per instrument, for these performance-based awards granted during 2020 and 2019 was $37.29 and $29.98.

The weighted average grant-date fair value of these nonvested performance-based awards as of December 31, 2019 was $27.50.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(13)Commitments and Contingencies

Legal

We are subject to various legal proceedings and claims that arise in the ordinary course of business. In the opinion of management, the amount of any ultimate liability with respect to these actions is not expected to materially affect our consolidated financial statements or results of operations. 

Environmental

We generally perform environmental site assessments at properties we are considering acquiring. The properties, particularly land parcels, we acquire may have been subject to adverse environmental conditions as a result of previous owners’ operations, which require remediation prior to development of land by the applicable environmental laws or regulations.

At the time of acquisition, we establish a liability for the costs associated with environmental remediation when such obligation has been incurred and can be reasonably estimated. Subsequently we adjust the liability as appropriate when additional information becomes available. We record such environmental liabilities in other liabilities on the Consolidated Balance Sheets. We purchase various environmental insurance policies to mitigate our exposure to environmental liabilities. As of December 31, 2021, we are not aware of any environmental liabilities that would have a material adverse effect on our consolidated financial condition, results of operations or cash flows.

Off-Balance Sheet Liabilities

The Partnership has guaranteed the repayment of $18.5 million of economic development bonds issued by various municipalities in connection with certain commercial developments. We may be required to make payments under our guarantees to the extent that incremental taxes from specified developments are not sufficient to pay the bond debt service. Management does not believe that it is probable that we will be required to make any significant payments in satisfaction of these guarantees.

The Partnership also has guaranteed the repayment of a loan associated with one of our unconsolidated joint ventures. At December 31, 2021, the maximum guarantee exposure for the loan was approximately $4.8 million.

(14)Subsequent Events

Declaration of Dividends/Distributions

The General Partner's board of directors declared the following dividends/distributions at its regularly scheduled board meeting held on January 26, 2022:

Class of stock/units	Quarterly Amount per Share or Unit		Record Date	Payment Date
Common	$	0.28	February 16, 2022	February 28, 2022

Property Dispositions

In January 2022, we contributed three buildings to an unconsolidated joint venture. The joint venture financed the acquisition of these properties with a combination of third party first mortgage loans and equity contributions from our partner and we received approximately $289.7 million of net cash proceeds, including our share of the proceeds from the joint venture's first mortgage loans.

Debt Extinguishment

On January 14, 2022, we provided notice of redemption to the holders of our $300.0 million of 3.75% unsecured notes, which are scheduled to mature in December 2024. This redemption occurred on February 13, 2022 and resulted in a loss on debt extinguishment of approximately $22.0 million, which is comprised of the prepayment premium and the write-off of unamortized deferred financing costs.

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Atlanta, Georgia
	Airport Distribution 3781	Industrial	—	4,064	11,383	320	4,064	11,703	15,767	3,683	2002	2014
Aurora, Illinois
	Meridian Business 880	Industrial	—	963	4,625	1,467	963	6,092	7,055	3,376	2000	2000
	4220 Meridian Parkway	Industrial	—	970	3,512	102	970	3,614	4,584	1,544	2004	2004
	Butterfield 2805	Industrial	—	9,185	10,795	5,847	9,272	16,555	25,827	11,623	2008	2008
	Butterfield 4000	Industrial	—	3,132	12,639	70	3,132	12,709	15,841	3,870	2016	2016
	Butterfield 2850	Industrial	—	11,317	18,305	130	11,317	18,435	29,752	6,561	2016	2016
	Butterfield 4200	Industrial	—	5,777	13,108	68	5,967	12,986	18,953	3,493	2016	2016
Austell, Georgia
	Hartman Business 7545	Industrial	—	2,640	21,471	20	2,640	21,491	24,131	8,725	2008	2012
	240 The Bluffs	Industrial	—	6,138	15,447	3,086	6,138	18,533	24,671	2,314	2018	2018
Avenel, New Jersey
	Paddock 1	Industrial	—	20,861	15,408	91	20,861	15,499	36,360	1,644	2020	2020
Baltimore, Maryland
	Chesapeake Commerce 5901	Industrial	—	3,345	1,355	3,855	3,365	5,190	8,555	3,834	2008	2008
	Chesapeake Commerce 5003	Industrial	—	6,488	7,087	5,767	6,546	12,796	19,342	6,739	2008	2008
	Chesapeake Commerce 1500	Industrial	—	8,289	10,109	108	8,333	10,173	18,506	4,326	2016	2016
	Chesapeake Commerce 5900	Industrial	—	5,567	6,100	876	5,567	6,976	12,543	2,373	2017	2017
	Chesapeake Commerce 6000	Industrial	—	2,418	10,369	362	2,418	10,731	13,149	835	2020	2020
Batavia, Ohio
	S Afton Industrial Park 3001	Industrial	—	5,729	20,717	—	5,729	20,717	26,446	2,881	2019	2019
Bloomingdale, Georgia
	Morgan Business Center 400	Industrial	—	18,385	44,455	539	18,385	44,994	63,379	9,004	2017	2017
Bolingbrook, Illinois
	250 East Old Chicago Road	Industrial	—	1,229	4,038	253	1,229	4,291	5,520	1,723	2005	2005
	Crossroads 2	Industrial	—	1,134	5,434	1,407	1,134	6,841	7,975	2,375	1998	2010
	Crossroads 375	Industrial	—	1,064	4,371	497	1,064	4,868	5,932	1,848	2000	2010
	Crossroads Parkway 370	Industrial	—	2,409	4,236	912	2,409	5,148	7,557	2,383	1989	2011
	Crossroads Parkway 605	Industrial	—	3,656	7,587	3,550	3,656	11,137	14,793	3,970	1998	2011
	Crossroads Parkway 335	Industrial	—	2,574	8,342	1,032	2,574	9,374	11,948	3,533	1997	2012

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Boynton Beach, Florida
	Gateway Center 1103	Industrial	—	3,701	5,300	1,712	3,702	7,011	10,713	2,920	2002	2010
	Gateway Center 3602	Industrial	—	1,738	4,584	265	1,739	4,848	6,587	1,789	2002	2010
	Gateway Center 3402	Industrial	—	2,063	3,218	471	2,064	3,688	5,752	1,485	2002	2010
	Gateway Center 2055	Industrial	—	1,560	2,583	175	1,560	2,758	4,318	1,036	2000	2010
	Gateway Center 2045	Industrial	—	1,073	1,541	835	1,073	2,376	3,449	922	2000	2010
	Gateway Center 2035	Industrial	—	1,073	1,304	699	1,073	2,003	3,076	772	2000	2010
	Gateway Center 2025	Industrial	—	1,560	2,658	145	1,560	2,803	4,363	1,048	2000	2010
	Gateway Center 1926	Industrial	—	4,143	9,900	1,458	4,144	11,357	15,501	4,653	2004	2010
Braselton, Georgia
	Braselton Business 920	Industrial	—	1,365	7,713	4,921	1,529	12,470	13,999	7,001	2001	2001
	625 Braselton Pkwy	Industrial	—	4,355	21,010	5,726	5,417	25,674	31,091	11,360	2006	2005
	1350 Braselton Parkway	Industrial	—	8,227	8,856	2,158	8,227	11,014	19,241	8,839	2008	2008
Brentwood, Tennessee
	Brentwood South Business 7104	Industrial	—	1,065	4,410	2,084	1,065	6,494	7,559	3,469	1987	1999
	Brentwood South Business 7106	Industrial	—	1,065	1,844	1,974	1,065	3,818	4,883	2,100	1987	1999
	Brentwood South Business 7108	Industrial	—	848	3,233	1,392	848	4,625	5,473	2,650	1989	1999
Brooklyn Park, Minnesota
	7300 Northland Drive	Industrial	—	700	5,289	862	703	6,148	6,851	3,398	1999	1998
	Crosstown North 9201	Industrial	—	835	4,433	1,501	1,121	5,648	6,769	3,168	1998	1999
	Crosstown North 8400	Industrial	—	2,079	4,926	3,044	2,233	7,816	10,049	4,003	1999	1999
	Crosstown North 9100	Industrial	—	1,079	3,743	999	1,166	4,655	5,821	2,591	2000	2000
	Crosstown North 9200	Industrial	—	1,222	2,674	2,690	1,256	5,330	6,586	2,262	2005	2005
	Crosstown North 7601	Industrial	—	2,998	7,472	885	2,998	8,357	11,355	3,366	2005	2005
Buena Park, California
	6280 Artesia Boulevard	Industrial	—	28,582	5,010	871	28,582	5,881	34,463	1,253	2005	2017
Carol Stream, Illinois
	Carol Stream 815	Industrial	—	3,037	11,210	1,849	3,037	13,059	16,096	6,008	2004	2003
	Carol Stream 640	Industrial	—	876	3,200	495	876	3,695	4,571	1,534	1999	2010
	Carol Stream 370	Industrial	—	1,319	5,960	1,053	1,332	7,000	8,332	2,561	2002	2010
	250 Kehoe Boulevard	Industrial	—	1,715	7,552	136	1,715	7,688	9,403	2,843	2008	2011
	Carol Stream 720	Industrial	—	3,362	17,759	1,020	4,083	18,058	22,141	6,592	1999	2011

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Carson, California
	20915 S Wilmington Ave	Industrial	—	24,350	7,934	545	24,350	8,479	32,829	346	1996	2020
Carteret, New Jersey
	900 Federal Blvd.	Industrial	—	2,088	24,712	36	2,088	24,748	26,836	4,503	2017	2017
Chino, California
	13799 Monte Vista	Industrial	—	14,046	8,236	2,252	14,046	10,488	24,534	6,983	2013	2013
Cincinnati, Ohio
	Kenwood Commons 8230	Office	663	638	35	2,460	638	2,495	3,133	769	1986	1993
	Kenwood Commons 8280	Office	637	638	275	2,059	638	2,334	2,972	1,241	1986	1993
	World Park 5389	Industrial	—	963	5,550	1,464	963	7,014	7,977	2,616	1994	2010
	World Park 5232	Industrial	—	1,078	5,074	818	1,077	5,893	6,970	2,139	1997	2010
	World Park 5399	Industrial	—	739	5,251	896	740	6,146	6,886	2,605	1998	2010
	World Park 5265	Industrial	—	2,118	11,569	4,480	2,118	16,049	18,167	5,889	2015	2010
City of Industry, California
	825 Ajax Ave	Industrial	—	38,930	27,627	8,133	38,930	35,760	74,690	6,546	2017	2017
	14508 Nelson Ave	Industrial	—	26,162	25,210	950	26,162	26,160	52,322	1,147	2010	2020
College Park, Georgia
	2929 Roosevelt Highway	Industrial	—	9,419	17,205	65	9,419	17,270	26,689	1,696	2020	2020
College Station, Texas
	Baylor College Station MOB	Medical Office	—	5,551	33,770	5,293	5,551	39,063	44,614	17,731	2013	2013
Columbus, Ohio
	RGLP Intermodal North 9224	Industrial	—	1,550	19,873	985	1,550	20,858	22,408	4,100	2016	2016
	RGLP Intermodal S 9799	Industrial	—	13,065	44,159	239	13,065	44,398	57,463	6,695	2018	2018
Coppell, Texas
	Freeport X	Industrial	—	2,145	12,784	3,624	2,145	16,408	18,553	7,325	2004	2004
	Point West 400	Industrial	—	10,181	12,803	9,041	10,475	21,550	32,025	14,092	2008	2008
	Point West 240	Industrial	—	6,785	11,700	6,299	7,519	17,265	24,784	10,965	2008	2008
	Point West 120	Industrial	—	3,267	8,695	147	3,267	8,842	12,109	4,058	2015	2015
Corona, California
	1283 Sherborn Street	Industrial	—	7,231	13,575	428	7,231	14,003	21,234	4,690	2005	2011
Cranbury, New Jersey
	311 Half Acre Road	Industrial	—	6,600	14,106	317	6,600	14,423	21,023	4,886	2004	2013
	315 Half Acre Road	Industrial	—	14,100	29,188	6,998	14,100	36,186	50,286	10,481	2004	2013

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Cypress, California
	6450 Katella Ave	Industrial	—	85,984	2,517	—	85,984	2,517	88,501	204	2021	2021
Davenport, Florida
	Park 27 Distribution 210	Industrial	—	1,143	5,052	600	1,198	5,597	6,795	2,698	2003	2003
	Park 27 Distribution 220	Industrial	—	4,374	5,066	5,850	4,502	10,788	15,290	6,664	2007	2007
Davie, Florida
	Westport Business Park 2555	Industrial	—	1,040	951	69	1,040	1,020	2,060	366	1991	2011
	Westport Business Park 2501	Industrial	—	943	629	239	943	868	1,811	401	1991	2011
	Westport Business Park 2525	Industrial	—	2,048	5,774	1,472	2,048	7,246	9,294	2,725	1991	2011
Deer Park, Texas
	801 Seaco Court	Industrial	—	2,331	4,673	627	2,331	5,300	7,631	2,240	2006	2012
Des Moines, Washington
	21202 24th Ave South	Industrial	—	18,720	36,496	43	18,720	36,539	55,259	4,946	2018	2018
	21402 24th Ave South	Industrial	—	18,970	31,048	1,176	18,970	32,224	51,194	4,140	2018	2018
Duluth, Georgia
	Sugarloaf 2775	Industrial	—	560	4,298	1,185	560	5,483	6,043	2,989	1997	1999
	Sugarloaf 3079	Industrial	—	776	4,536	3,482	776	8,018	8,794	4,260	1998	1999
	Sugarloaf 2855	Industrial	—	765	2,618	1,906	765	4,524	5,289	2,301	1999	1999
	Sugarloaf 6655	Industrial	—	1,651	6,804	879	1,651	7,683	9,334	3,591	1998	2001
	2625 Pinemeadow Court	Industrial	—	732	3,096	889	732	3,985	4,717	1,389	1994	2010
	2660 Pinemeadow Court	Industrial	—	459	1,670	118	459	1,788	2,247	699	1996	2010
	2450 Satellite Boulevard	Industrial	—	473	1,730	414	473	2,144	2,617	886	1994	2010
DuPont, Washington
	2700 Center Drive	Industrial	—	34,413	37,943	520	34,582	38,294	72,876	16,473	2013	2013
	2800 Center Drive	Industrial	—	21,025	48,060	1,794	21,025	49,854	70,879	2,420	2020	2020
	2900 Center Drive	Industrial	—	34,692	71,066	34	34,692	71,100	105,792	3,872	2020	2020
	2980 Center Drive	Industrial	—	15,956	17,527	(63)	15,956	17,464	33,420	861	1996	2020
	Center Drive trailer lot	Grounds	—	3,252	—	1	3,253	—	3,253	80	n/a	2020
Durham, North Carolina
	Centerpoint Raleigh 1805	Industrial	—	3,574	10,339	5,260	3,574	15,599	19,173	6,791	2000	2011
	Centerpoint Raleigh 1757	Industrial	—	2,607	8,722	125	2,607	8,847	11,454	2,990	2007	2011
Eagan, Minnesota
	Apollo 920	Industrial	—	866	3,234	2,036	895	5,241	6,136	3,178	1997	1997
	Apollo 940	Industrial	—	474	2,092	784	474	2,876	3,350	1,624	2000	2000
	Apollo 950	Industrial	—	1,432	5,988	127	1,432	6,115	7,547	3,333	2000	2000
	2015 Silver Bell Road	Industrial	—	1,740	4,180	2,997	1,740	7,177	8,917	4,135	1999	1999

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Trapp 1279	Industrial	—	671	3,441	1,054	691	4,475	5,166	2,494	1996	1998
	Trapp 1245	Industrial	—	1,250	5,424	1,784	1,250	7,208	8,458	4,048	1998	1998
East Point, Georgia
	Camp Creek 2400	Industrial	—	296	627	2,267	300	2,890	3,190	1,517	1988	2001
	Camp Creek 2600	Industrial	—	364	824	1,702	368	2,522	2,890	1,416	1990	2001
	Camp Creek 3201	Industrial	—	1,937	7,426	2,901	1,937	10,327	12,264	4,610	2004	2004
	Camp Creek 3900	Industrial	—	287	2,919	2,191	286	5,111	5,397	2,487	2005	2005
	Camp Creek 3909	Industrial	—	2,403	1,309	18,177	3,583	18,306	21,889	6,660	2014	2006
	Camp Creek 3000	Industrial	—	1,163	1,020	1,450	1,258	2,375	3,633	1,942	2007	2007
	Camp Creek 4800	Industrial	—	2,476	3,906	2,380	2,740	6,022	8,762	3,944	2008	2008
	Camp Creek 4100	Industrial	—	3,130	9,115	553	3,327	9,471	12,798	4,292	2013	2013
	Camp Creek 3700	Industrial	—	1,878	3,016	100	1,883	3,111	4,994	1,526	2014	2014
	Camp Creek 4909	Industrial	—	7,807	14,321	3,826	7,851	18,103	25,954	6,534	2016	2016
	Camp Creek 3707	Industrial	—	7,282	20,538	3	7,282	20,541	27,823	7,128	2017	2017
	Camp Creek 4505	Industrial	—	4,505	9,697	3,708	4,505	13,405	17,910	2,991	2017	2017
	Camp Creek 4900	Industrial	—	3,244	7,758	778	3,244	8,536	11,780	1,359	2019	2019
	Camp Creek 4850	Industrial	—	5,428	7,169	197	5,428	7,366	12,794	911	2020	2020
	1000 Logistics Way	Industrial	—	10,599	41,030	—	10,599	41,030	51,629	1,709	2021	2021
	Camp Creek 6200	Industrial	—	5,609	15,301	—	5,609	15,301	20,910	177	2021	2021
	2000 Centre Court	Industrial	—	3,938	10,297	—	3,938	10,297	14,235	43	2021	2021
East Rutherford, New Jersey
	66-96 East Union Avenue		—	18,043	3,954	—	18,043	3,954	21,997	186	1969	2021
Easton, Pennsylvania
	33 Logistics Park 1610	Industrial	—	24,752	55,500	1,982	24,896	57,338	82,234	19,386	2016	2016
	33 Logistics Park 1611	Industrial	—	17,979	20,882	1,970	17,979	22,852	40,831	8,385	2017	2017
	33 Logistics Park 1620	Industrial	—	29,786	33,023	1,352	29,791	34,370	64,161	7,449	2018	2018
Elk Grove Village, Illinois
	1717 Busse Road	Industrial	—	3,602	18,065	494	3,602	18,559	22,161	6,631	2004	2011
	901 Chase Avenue	Industrial	—	10,405	8,961	39	10,405	9,000	19,405	1,101	2020	2020
Ellenwood, Georgia
	2529 Old Anvil Block	Industrial	—	4,664	9,265	446	4,664	9,711	14,375	4,133	2014	2014
Fairfield, Ohio
	Union Centre Industrial 6019	Industrial	—	5,635	6,576	2,534	5,635	9,110	14,745	6,111	2008	2008
	Union Centre Industrial 5855	Industrial	—	3,009	15,387	2,063	3,009	17,450	20,459	4,745	2016	2016
	Fairfield Logistics Ctr 7940	Industrial	—	4,679	8,237	2,180	4,689	10,407	15,096	1,889	2018	2018

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Flower Mound, Texas
	Lakeside Ranch 550	Industrial	—	4,619	19,299	488	4,619	19,787	24,406	6,730	2007	2011
	Lakeside Ranch 1001	Industrial	—	5,662	23,061	2,317	5,662	25,378	31,040	3,724	2019	2019
	Lakeside Ranch 350	Industrial	—	3,665	10,105	4,312	3,665	14,417	18,082	1,452	2019	2019
Fontana, California
	14970 Jurupa Ave	Grounds	—	17,306	—	—	17,306	—	17,306	1,158	n/a	2016
	7953 Cherry Ave	Industrial	—	6,704	12,521	824	6,704	13,345	20,049	3,305	2017	2017
	9988 Redwood Ave	Industrial	—	7,755	16,326	695	7,755	17,021	24,776	4,692	2016	2017
	11250 Poplar Ave	Industrial	—	18,138	33,586	—	18,138	33,586	51,724	8,206	2016	2017
	16171 Santa Ana Ave	Industrial	—	13,681	13,331	112	13,681	13,443	27,124	2,377	2018	2018
Fort Lauderdale, Florida
	Interstate 95 2200	Industrial	—	9,332	13,401	2,123	9,332	15,524	24,856	3,319	2017	2017
	Interstate 95 2100	Industrial	—	10,948	18,681	—	10,948	18,681	29,629	3,513	2017	2017
Fort Worth, Texas
	Riverpark 3300	Industrial	—	1,673	10,633	856	1,674	11,488	13,162	5,016	2007	2011
Franklin, Tennessee
	Aspen Grove Business 277	Industrial	—	936	2,919	3,954	936	6,873	7,809	3,852	1996	1999
	Aspen Grove Business 320	Industrial	—	1,151	5,824	1,628	1,151	7,452	8,603	4,065	1996	1999
	Aspen Grove Business 305	Industrial	—	970	4,677	1,300	970	5,977	6,947	3,245	1998	1999
	Aspen Grove Business 400	Industrial	—	492	1,677	1,218	492	2,895	3,387	1,298	2002	2002
	Brentwood South Business 119	Industrial	—	569	1,063	1,625	569	2,688	3,257	1,485	1990	1999
	Brentwood South Business 121	Industrial	—	445	1,563	614	445	2,177	2,622	1,124	1990	1999
	Brentwood South Business 123	Industrial	—	489	962	1,347	489	2,309	2,798	1,391	1990	1999
Franklin Park, Illinois
	11501 West Irving Park Road	Industrial	—	3,900	2,702	1,835	3,900	4,537	8,437	2,321	2007	2007
Fremont, California
	48401 Fremont Blvd		—	33,621	19,407	—	33,621	19,407	53,028	708	2021	2021
Fullerton, California
	500 Burning Tree Rd	Industrial	—	7,336	4,435	42	7,336	4,477	11,813	1,269	1991	2018
	700 Burning Tree Rd	Industrial	—	5,001	4,915	—	5,001	4,915	9,916	869	1991	2018
Garner, North Carolina
	Greenfield North 600	Industrial	—	519	2,448	536	520	2,983	3,503	1,224	2006	2011

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Greenfield North 700	Industrial	—	407	2,054	295	408	2,348	2,756	919	2007	2011
	Greenfield North 800	Industrial	—	381	5,772	858	383	6,628	7,011	2,232	2004	2011
	Greenfield North 900	Industrial	—	367	5,792	1,764	370	7,553	7,923	2,746	2007	2011
	Greenfield North 1000	Industrial	—	1,897	6,026	96	1,979	6,040	8,019	2,323	2016	2016
	Greenfield North 1001	Industrial	—	2,517	5,494	2,523	2,610	7,924	10,534	2,462	2017	2017
	N. Greenfield Pkwy	Grounds	—	189	222	10	189	232	421	259	n/a	2015
	Greenfield North 1100	Industrial	—	1,870	5,623	(1)	1,870	5,622	7,492	514	2020	2020
	Greenfield North 1201	Industrial	—	3,462	6,867	3,292	3,462	10,159	13,621	967	2020	2020
	Greenfield North 1300	Industrial	—	6,112	—	—	6,112	—	6,112	217	2021	2021
Geneva, Illinois
	1800 Averill Road	Industrial	—	3,189	11,582	7,640	4,778	17,633	22,411	6,317	2013	2011
Gibsonton, Florida
	Tampa Regional Ind Park 13111	Industrial	—	10,547	8,662	2,011	10,547	10,673	21,220	3,515	2017	2017
	Tampa Regional Ind Park 13040	Industrial	—	13,184	13,475	2,987	13,184	16,462	29,646	3,468	2018	2018
Glendale Heights, Illinois
	990 North Avenue	Industrial	—	12,144	5,933	3,854	12,324	9,607	21,931	1,850	2018	2018
Grand Prairie, Texas
	Grand Lakes 4003	Industrial	—	3,206	9,124	14,038	4,361	22,007	26,368	6,487	2017	2006
	Grand Lakes 3953	Industrial	—	11,853	11,851	13,674	11,853	25,525	37,378	16,448	2008	2008
	1803 W. Pioneer Parkway	Industrial	—	3,158	15,389	97	3,158	15,486	18,644	5,203	2008	2011
	Grand Lakes 4053	Industrial	—	2,468	6,599	1,242	2,468	7,841	10,309	1,656	2018	2018
Groveport, Ohio
	Groveport Commerce Center 6200	Industrial	—	1,049	5,123	2,816	1,049	7,939	8,988	4,685	1999	1999
	Groveport Commerce Center 6300	Industrial	—	510	2,395	2,321	510	4,716	5,226	2,507	2000	2000
	Groveport Commerce Center 6295	Industrial	—	435	5,435	2,160	435	7,595	8,030	3,983	2000	2000
	Groveport Commerce Center 6405	Industrial	—	1,207	10,322	992	1,207	11,314	12,521	4,780	2005	2005
	RGLP North 2842	Industrial	—	5,680	22,366	843	5,680	23,209	28,889	6,905	2008	2010
Hebron, Kentucky
	Hebron 2305	Industrial	—	3,789	10,797	18,591	3,789	29,388	33,177	20,695	2006	2006
	Hebron 2285	Industrial	—	6,790	6,730	5,138	6,813	11,845	18,658	8,333	2007	2007
	Skyport 2350	Industrial	—	898	5,777	1,423	1,428	6,670	8,098	2,415	1997	2010
	Skyport 2250	Industrial	—	1,190	8,680	1,714	1,393	10,191	11,584	3,562	1999	2010
	Skyport 2245	Industrial	—	1,714	8,305	1,167	1,714	9,472	11,186	3,637	2000	2010
	Skyport 2265	Industrial	—	1,153	6,038	846	1,153	6,884	8,037	2,783	2006	2010
	Southpark 1990	Industrial	—	366	7,701	2	366	7,703	8,069	1,373	2016	2016
Hialeah, Florida
	Countyline Corporate Park 3740	Industrial	—	18,934	11,560	45	18,934	11,605	30,539	3,331	2018	2018

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Countyline Corporate Park 3780	Industrial	—	21,445	22,144	166	21,445	22,310	43,755	4,379	2018	2018
	Countyline Corporate Park 3760	Industrial	—	32,802	52,633	153	32,802	52,786	85,588	8,949	2018	2018
	Countyline Corporate Park 3840	Industrial	—	15,906	14,953	266	15,906	15,219	31,125	3,202	2018	2018
	Countyline Corporate Park 3850	Industrial	—	18,270	17,567	179	18,270	17,746	36,016	2,549	2019	2019
	Countyline Corporate Park 3870	Industrial	—	17,605	17,068	91	17,605	17,159	34,764	2,408	2019	2019
Hialeah Gardens, Florida
	Miami Ind Logistics Ctr 15002	Industrial	—	10,671	14,071	1,828	10,671	15,899	26,570	4,130	2017	2017
	Miami Ind Logistics Ctr 14802	Industrial	—	10,800	14,236	3,635	10,800	17,871	28,671	4,574	2017	2017
	Miami Ind Logistics Ctr 10701	Industrial	—	13,048	17,204	2,366	13,048	19,570	32,618	5,432	2017	2017
Hopkins, Minnesota
	Cornerstone 401	Industrial	—	1,454	7,623	2,462	1,454	10,085	11,539	6,062	1996	1997
Houston, Texas
	Point North 8210	Industrial	—	3,125	2,178	2,293	3,125	4,471	7,596	3,373	2008	2008
	Point North 8120	Industrial	—	4,210	2,108	4,616	4,581	6,353	10,934	3,266	2013	2013
	Point North 8111	Industrial	—	3,957	15,093	642	3,957	15,735	19,692	5,631	2014	2014
	Point North 8411	Industrial	—	5,333	6,946	1,271	5,333	8,217	13,550	3,246	2015	2015
	Westland 8323	Industrial	—	4,183	2,574	3,675	4,417	6,015	10,432	4,591	2008	2008
	Westland 13788	Industrial	—	3,246	8,338	989	3,246	9,327	12,573	5,314	2011	2011
	Gateway Northwest 20710	Industrial	—	7,204	8,028	4,167	7,204	12,195	19,399	5,217	2014	2014
	Gateway Northwest 20702	Industrial	—	2,981	3,122	1,173	2,981	4,295	7,276	1,896	2014	2014
	Gateway Northwest 20502	Industrial	—	2,987	5,342	21	2,987	5,363	8,350	2,206	2016	2016
	22008 N Berwick Drive	Industrial	—	2,981	4,949	905	2,981	5,854	8,835	1,611	2002	2015
	Gateway Northwest 20510	Industrial	—	6,787	11,501	792	6,787	12,293	19,080	3,098	2018	2018
	Point North 8221	Industrial	—	6,503	10,357	1,441	6,503	11,798	18,301	2,117	2019	2019
Huntley, Illinois
	14100 Weber Drive	Industrial	—	7,539	34,069	78	7,539	34,147	41,686	8,068	2015	2015
Hutchins, Texas
	801 Wintergreen Road	Industrial	—	2,288	9,115	1,482	2,288	10,597	12,885	3,926	2006	2006
	Prime Pointe 1005	Industrial	—	5,865	19,420	59	5,865	19,479	25,344	5,340	2016	2016
	Prime Pointe 1015	Industrial	—	8,356	16,319	2,257	8,170	18,762	26,932	3,704	2018	2018
Indianapolis, Indiana
	Park 100 5550	Industrial	—	1,171	12,611	678	1,424	13,036	14,460	8,704	1997	1995
	Park 100 Bldg 121 Land Lease	Grounds	—	3	—	—	3	—	3	—	n/a	2003
	West 79th St. Parking Lot LL	Grounds	—	164	—	—	164	—	164	—	n/a	2006
	North Airport Park 7750	Industrial	—	1,620	4,279	810	1,620	5,089	6,709	2,168	1997	2010
	Park 100 5010	Industrial	—	621	1,687	568	621	2,255	2,876	1,144	1984	2010
	Park 100 5134	Industrial	—	578	1,904	299	578	2,203	2,781	867	1984	2010

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Park 100 5302	Industrial	—	384	998	325	384	1,323	1,707	604	1989	2010
	Park 100 5303	Industrial	—	384	1,515	348	384	1,863	2,247	772	1989	2010
	Park 100 7225	Industrial	—	1,037	13,332	998	1,037	14,330	15,367	5,667	1996	2010
	Park 100 4925	Industrial	—	1,152	8,569	2,319	1,152	10,888	12,040	4,471	2000	2010
	8711 North River Crossing Blvd	HQ/Core Portfolio	17,387	1,211	24,259	70	1,211	24,329	25,540	2,108	2020	2020
Katy, Texas
	3900 Peek Road	Industrial	—	8,584	14,385	4,645	8,584	19,030	27,614	1,351	2020	2020
Kent, Washington
	21214 66th Ave South	Industrial	—	3,813	9,767	—	3,813	9,767	13,580	662	2016	2020
Kutztown, Pennsylvania
	West Hills 9645	Industrial	—	15,340	47,981	623	15,340	48,604	63,944	16,192	2014	2014
	West Hills 9677	Industrial	—	5,218	13,029	68	5,218	13,097	18,315	4,482	2015	2015
La Mirada, California
	16501 Trojan Way	Industrial	—	23,503	30,945	225	23,503	31,170	54,673	11,572	2002	2012
	16301 Trojan Way	Industrial	—	39,645	22,164	45	39,645	22,209	61,854	3,615	2018	2018
Lancaster, Texas
	Lancaster 2820	Industrial	—	9,786	22,270	8	9,786	22,278	32,064	4,953	2018	2018
LaPorte, Texas
	Bayport Container Lot	Grounds	—	3,334	—	1,041	4,375	—	4,375	—	n/a	2010
Lathrop, California
	16825 Murphy Parkway	Industrial	—	10,121	20,959	—	10,121	20,959	31,080	—	2021	2021
Lawrenceville, Georgia
	175 Alcovy Industrial Road	Industrial	—	1,480	2,935	45	1,487	2,973	4,460	1,268	2004	2004
Lebanon, Indiana
	Lebanon Park 185	Industrial	—	177	8,664	1,554	177	10,218	10,395	6,116	2000	1997
	Lebanon Park 322	Industrial	—	340	6,230	1,479	340	7,709	8,049	4,360	1999	1999
	Lebanon Park 500	Industrial	—	816	10,741	2,471	815	13,213	14,028	5,821	2005	2005
	Lebanon Park 210	Industrial	—	156	3,427	109	156	3,536	3,692	1,379	1996	2010
	Lebanon Park 311	Industrial	—	349	7,604	767	350	8,370	8,720	3,380	1998	2010
Lebanon, Tennessee
	Park 840 West 14840	Industrial	—	2,367	8,449	4,907	2,367	13,356	15,723	4,897	2006	2006
	Park 840 East 1009	Industrial	—	7,731	12,462	1,782	7,852	14,123	21,975	7,216	2013	2013
Linden, New Jersey
	Legacy Commerce Center 801	Industrial	—	22,134	23,645	2,198	22,134	25,843	47,977	6,905	2014	2014

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Legacy Commerce Center 301	Industrial	—	6,933	8,575	335	6,933	8,910	15,843	2,845	2015	2015
	Legacy Commerce Center 901	Industrial	—	25,935	19,806	2,311	25,937	22,115	48,052	6,802	2016	2016
Lithia Springs, Georgia
	2601 Skyview Drive	Industrial	—	4,282	9,534	58	4,282	9,592	13,874	2,816	2016	2017
Lockport, Illinois
	Lockport 16328	Industrial	—	3,339	17,446	460	3,339	17,906	21,245	3,659	2016	2017
	Lockport 16410	Industrial	—	2,677	16,117	285	2,677	16,402	19,079	3,249	2016	2017
	Lockport 16508	Industrial	—	4,520	17,472	2,616	4,520	20,088	24,608	4,362	2017	2017
Lockbourne, Ohio
	Creekside 2120	Industrial	—	2,868	15,406	1,031	2,868	16,437	19,305	6,312	2008	2012
	Creekside 4555	Industrial	—	1,947	11,453	294	1,947	11,747	13,694	4,339	2005	2012
Lodi, New Jersey
	65 Industrial Road	Industrial	—	20,063	899	40	20,063	939	21,002	106	1965	2020
Logan Township, New Jersey
	1130 Commerce Boulevard	Industrial	—	3,770	18,699	1,158	3,770	19,857	23,627	6,240	2002	2013
Long Beach, California
	3700 Cover Street	Industrial	—	7,280	6,954	—	7,280	6,954	14,234	3,464	2012	2013
	189 W Victoria St	Industrial	—	16,905	2,373	—	16,905	2,373	19,278	—	1979	2021
Los Angeles, California
	13344 S Main Street	Industrial	—	39,678	23,978	—	39,678	23,978	63,656	403	2021	2021
Lynwood, California
	2700 East Imperial Highway	Industrial	—	15,230	17,865	56	15,230	17,921	33,151	6,338	1999	2011
	11600 Alameda Street	Industrial	—	10,705	10,979	1,949	10,958	12,675	23,633	2,503	2017	2017
Manteca, California
	600 Spreckels Avenue	Industrial	—	4,851	18,985	416	4,851	19,401	24,252	7,117	1999	2012
Maple Grove, Minnesota
	Arbor Lakes 10500	Industrial	—	4,803	9,891	4,090	4,912	13,872	18,784	1,975	2018	2018
	Arbor Lakes 10501	Industrial	—	5,363	17,713	85	5,363	17,798	23,161	2,727	2019	2019
	Park 81 10750	Industrial	—	3,971	9,262	1	3,971	9,263	13,234	1,143	2019	2019
McDonough, Georgia
	Liberty Distribution 120	Industrial	—	615	8,117	733	615	8,850	9,465	4,925	1997	1999
	Liberty Distribution 250	Industrial	—	2,273	10,910	7,946	3,416	17,713	21,129	8,521	2001	2001

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Mechanicsburg, Pennsylvania
	500 Independence Avenue	Industrial	—	4,494	15,007	883	4,499	15,885	20,384	5,099	2008	2013
Medley, Florida
	Miami 27 Business Park 10300	Industrial	—	34,758	16,913	—	34,758	16,913	51,671	298	2021	2021
	Miami 27 Business Park 10310	Industrial	—	15,275	11,412	—	15,275	11,412	26,687	255	2021	2021
Melrose Park, Illinois
	1600 North 25th Avenue	Industrial	—	5,907	17,516	299	5,907	17,815	23,722	7,744	2000	2010
Miami, Florida
	9601 NW 112 Avenue	Industrial	—	11,626	14,651	8	11,626	14,659	26,285	5,599	2003	2013
Minooka, Illinois
	Midpoint Distribution 801	Industrial	—	6,282	30,802	627	6,282	31,429	37,711	9,838	2008	2013
Modesto, California
	1000 Oates Court	Industrial	—	10,115	16,944	428	10,115	17,372	27,487	8,440	2002	2012
Monroe Twp., New Jersey
	773 Cranbury South River Road	Industrial	—	3,001	36,527	199	3,001	36,726	39,727	7,609	2016	2017
Moreno Valley, California
	17791 Perris Boulevard	Industrial	—	67,806	74,531	38	67,806	74,569	142,375	14,331	2018	2017
	15810 Heacock Street	Industrial	—	9,727	18,882	2,770	9,727	21,652	31,379	3,389	2017	2017
	24975 Nandina Ave	Industrial	—	13,322	17,214	214	13,322	17,428	30,750	2,172	2019	2019
	24960 San Michele	Industrial	—	8,336	13,699	—	8,336	13,699	22,035	2,430	2019	2019
Morgans Point, Texas
	Barbours Cut 1200	Industrial	—	889	7,140	90	889	7,230	8,119	2,661	2004	2010
	Barbours Cut 1000	Industrial	—	868	7,311	168	868	7,479	8,347	2,756	2005	2010
Morrisville, North Carolina
	Perimeter Park 3000	Industrial	—	482	1,982	1,688	491	3,661	4,152	2,018	1989	1999
	Perimeter Park 2900	Industrial	—	235	1,314	1,644	241	2,952	3,193	1,662	1990	1999
	Perimeter Park 2800	Industrial	—	777	4,151	1,511	791	5,648	6,439	3,039	1992	1999
	Perimeter Park 2700	Industrial	—	662	1,081	2,270	662	3,351	4,013	1,761	2001	2001
	Woodlake 100	Industrial	—	633	3,183	2,080	1,132	4,764	5,896	2,824	1994	1999
	Woodlake 101	Industrial	—	615	3,868	530	615	4,398	5,013	2,411	1997	1999
	Woodlake 200	Industrial	—	357	3,688	932	357	4,620	4,977	2,539	1999	1999
	Woodlake 501	Industrial	—	640	5,477	1,032	640	6,509	7,149	3,283	1999	1999
	Woodlake 400	Industrial	—	390	1,055	443	390	1,498	1,888	685	2004	2004

-104-

DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Myerstown, Pennsylvania
	Central Logistics Park 100	Industrial	—	16,936	29,564	83	16,936	29,647	46,583	2,742	2020	2020
	Central Logistics Park 60	Industrial	—	16,058	26,546	—	16,058	26,546	42,604	807	2021	2021
Naperville, Illinois
	1835 W. Jefferson	Industrial	—	2,209	7,921	1,651	2,213	9,568	11,781	4,182	2005	2003
	175 Ambassador Drive	Industrial	—	3,822	11,252	11	3,822	11,263	15,085	4,540	2006	2010
	1860 West Jefferson	Industrial	—	7,016	35,581	1,113	7,016	36,694	43,710	16,272	2000	2012
Nashville, Tennessee
	Airpark East 800	Industrial	—	1,564	2,129	1,985	1,564	4,114	5,678	1,814	2002	2002
	Nashville Business 3300	Industrial	—	936	4,773	1,914	936	6,687	7,623	3,822	1997	1999
	Nashville Business 3438	Industrial	—	3,048	8,165	2,221	3,048	10,386	13,434	4,758	2005	2005
	Four-Forty Business 700	Industrial	—	938	6,354	706	938	7,060	7,998	4,036	1997	1999
	Four-Forty Business 684	Industrial	—	1,812	6,561	2,207	1,812	8,768	10,580	4,923	1998	1999
	Four-Forty Business 782	Industrial	—	1,522	4,820	1,796	1,522	6,616	8,138	3,705	1997	1999
	Four-Forty Business 784	Industrial	—	471	2,153	1,698	471	3,851	4,322	2,404	1999	1999
	Four-Forty Business 701	Industrial	—	997	4,763	107	997	4,870	5,867	1,838	1996	2010
Newark, New Jersey
	429 Delancy Street	Industrial	—	60,393	85,359	959	60,486	86,225	146,711	8,090	2019	2019
	740-768 Doremus Avenue	Grounds	—	106,552	—	—	106,552	—	106,552	—	n/a	2021
Northlake, Illinois
	Northlake Distribution 635	Industrial	—	5,721	9,008	1,574	5,721	10,582	16,303	4,991	2002	2002
	Northlake Distribution 599	Industrial	—	2,823	5,685	3,400	2,823	9,085	11,908	2,988	2014	2006
	200 Champion Way	Industrial	—	3,554	11,528	832	3,554	12,360	15,914	4,576	1997	2011
Oakland, California
	1905 Dennison Street	Industrial	15,063	12,118	20,518	2	12,118	20,520	32,638	1,131	1956	2020
	955 Kennedy Street	Industrial	9,519	13,053	9,764	—	13,053	9,764	22,817	736	1966	2020
Ontario, California
	1656 Bon View	Industrial	—	9,551	250	—	9,551	250	9,801	23	1991	2021
	2151 S Vintage Ave	Industrial	—	105,589	82,630	—	105,589	82,630	188,219	1,828	1991	2021
Orange, California
	210 W Baywood Ave	Industrial	—	5,066	4,515	1,816	5,066	6,331	11,397	1,049	1989	2018
Orlando, Florida
	2502 Lake Orange	Industrial	—	2,331	3,235	319	2,331	3,554	5,885	1,698	2003	2003

-105-

DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Parksouth Distribution 2500	Industrial	—	565	4,360	1,714	570	6,069	6,639	3,287	1996	1999
	Parksouth Distribution 2490	Industrial	—	493	4,170	654	498	4,819	5,317	2,764	1997	1999
	Parksouth Distribution 2491	Industrial	—	593	3,150	1,963	597	5,109	5,706	2,719	1998	1999
	Parksouth Distribution 9600	Industrial	—	649	4,111	1,128	653	5,235	5,888	3,091	1997	1999
	Parksouth Distribution 9550	Industrial	—	1,030	4,207	3,521	1,035	7,723	8,758	3,813	1999	1999
	Parksouth Distribution 2481	Industrial	—	725	2,245	1,567	730	3,807	4,537	2,142	2000	2000
	Parksouth Distribution 9592	Industrial	—	623	1,646	99	623	1,745	2,368	845	2003	2003
	Crossroads Business Park 301	Industrial	—	1,653	2,804	4,070	1,653	6,874	8,527	2,891	2006	2006
	Crossroads Business Park 601	Industrial	—	2,701	3,571	2,059	2,701	5,630	8,331	3,244	2007	2007
	7133 Municipal Drive	Industrial	—	5,817	6,820	29	5,817	6,849	12,666	1,296	2018	2018
Otsego, Minnesota
	Gateway North 6301	Industrial	—	1,543	6,515	6,009	2,783	11,284	14,067	2,828	2017	2015
	Gateway North 6651	Industrial	—	3,667	16,249	129	3,748	16,297	20,045	4,548	2015	2015
	Gateway North 6701	Industrial	—	3,266	10,996	237	3,374	11,125	14,499	3,219	2014	2014
	Gateway North 6651	Grounds	—	1,521	—	—	1,521	—	1,521	536	n/a	2016
Pasadena, Texas
	Interport 13001	Industrial	—	5,715	30,961	781	5,655	31,802	37,457	10,451	2007	2013
	Bayport 4035	Industrial	—	3,772	10,255	188	3,772	10,443	14,215	2,264	2008	2017
	Bayport 4331	Industrial	—	7,638	30,213	125	7,638	30,338	37,976	6,970	2008	2017
Perris, California
	3500 Indian Avenue	Industrial	—	16,210	27,759	8,884	18,716	34,137	52,853	12,137	2015	2015
	3300 Indian Avenue	Industrial	—	39,012	43,280	1,870	38,989	45,173	84,162	16,181	2017	2017
	4323 Indian Ave	Industrial	—	20,525	30,125	470	20,525	30,595	51,120	4,644	2019	2019
	4375 N Perris Blvd	Industrial	—	26,830	69,527	57	26,830	69,584	96,414	6,415	2020	2020
	4501 Patterson Avenue	Industrial	—	28,211	49,869	2,621	28,211	52,490	80,701	5,042	2020	2020
	728 W. Rider Street	Industrial	—	69,056	62,459	—	69,056	62,459	131,515	616	2021	2021
Piscataway, New Jersey
	141 Circle Drive North	Grounds	—	5,237	—	29	5,266	—	5,266	—	n/a	2020
	150 Old New Brunswick Road	Industrial	—	52,134	45,883	—	52,134	45,883	98,017	1,090	2021	2021
	600 Ridge Road	Industrial	—	102,080	63,847	—	102,080	63,847	165,927	114	2019	2021
Plymouth, Minnesota
	Waterford Innovation Center	Industrial	—	2,689	9,897	113	2,689	10,010	12,699	2,221	2017	2017
Pomona, California
	1589 E 9th St.	Industrial	—	7,386	14,745	652	7,386	15,397	22,783	3,552	2016	2017

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	468 S Humane Way	Industrial	—	11,959	13,044	—	11,959	13,044	25,003	125	2017	2021
	1941 Mission Blvd	Industrial	—	7,405	8,249	—	7,405	8,249	15,654	—	2017	2021
	1943 Mission Blvd	Industrial	—	8,364	10,203	—	8,364	10,203	18,567	—	2017	2021
Perth Amboy, New Jersey
	ePort 960	Industrial	—	14,425	23,463	2,014	14,425	25,477	39,902	4,674	2017	2017
	ePort 980	Industrial	—	43,778	87,019	273	43,778	87,292	131,070	15,950	2017	2017
	ePort 1000	Industrial	—	19,726	41,229	1,040	19,726	42,269	61,995	7,244	2017	2017
	Steel Run Logistics Ctr Bldg 1	Industrial	—	31,987	23,948	388	32,318	24,005	56,323	2,277	2020	2020
	Steel Run Logistics Ctr Bldg 2	Industrial	—	73,056	68,473	4,145	73,974	71,700	145,674	4,412	2020	2020
Plainfield, Indiana
	Plainfield 1551	Industrial	—	1,097	7,772	10,831	1,097	18,603	19,700	8,380	2015	2000
	Plainfield 1581	Industrial	—	1,094	7,279	2,506	1,094	9,785	10,879	5,013	2000	2000
	Plainfield 2209	Industrial	—	2,016	8,717	2,639	2,016	11,356	13,372	5,334	2002	2002
	Plainfield 1390	Industrial	—	998	5,817	986	998	6,803	7,801	2,887	2004	2004
	Plainfield 2425	Industrial	—	1,917	10,908	1,979	1,918	12,886	14,804	5,052	2006	2006
	Home Depot trailer parking lot	Grounds	—	310	—	—	310	—	310	—	2018	2018
	AllPoints Midwest Bldg. 1	Industrial	—	6,692	51,152	2,056	6,692	53,208	59,900	12,143	2008	2016
	AllPoints Midwest Bldg. 4	Industrial	—	4,111	9,943	22	4,053	10,023	14,076	6,293	2012	2013
	AllPoints Midwest Bldg. 10	Industrial	—	2,867	22,335	—	2,867	22,335	25,202	1,017	2018	2021
Pompano Beach, Florida
	Atlantic Business 1700	Industrial	—	2,743	8,821	1,849	2,743	10,670	13,413	4,259	2000	2010
	Atlantic Business 1800	Industrial	—	2,308	8,381	564	2,308	8,945	11,253	3,439	2001	2010
	Atlantic Business 1855	Industrial	—	2,395	8,162	234	2,395	8,396	10,791	3,107	2001	2010
	Atlantic Business 2022	Industrial	—	1,563	5,885	41	1,563	5,926	7,489	2,190	2002	2010
	Atlantic Business 1914	Industrial	—	1,589	5,332	31	1,589	5,363	6,952	1,982	2002	2010
	Atlantic Business 2003	Industrial	—	1,716	5,918	831	1,716	6,749	8,465	2,876	2002	2010
	Atlantic Business 1901	Industrial	—	1,729	6,199	381	1,729	6,580	8,309	2,397	2004	2010
	Atlantic Business 2200	Industrial	—	1,732	6,012	843	1,732	6,855	8,587	2,802	2004	2010
	Atlantic Business 2100	Industrial	—	1,723	6,130	141	1,723	6,271	7,994	2,306	2002	2010
	Atlantic Business 2201	Industrial	—	1,901	4,050	121	1,901	4,171	6,072	1,534	2005	2010
	Atlantic Business 2101	Industrial	—	1,790	6,682	122	1,791	6,803	8,594	2,479	2004	2010
	Atlantic Business 2103	Industrial	—	1,400	3,628	118	1,401	3,745	5,146	1,412	2005	2010
	Copans Business Park 1571	Industrial	—	1,482	3,646	367	1,482	4,013	5,495	1,480	1989	2010
	Copans Business Park 1521	Industrial	—	1,543	3,101	309	1,544	3,409	4,953	1,305	1989	2010
	Park Central 3250	Industrial	—	1,463	1,997	10	1,463	2,007	3,470	799	1999	2010

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Park Central 3760	Industrial	—	2,685	2,491	1,682	2,685	4,173	6,858	1,647	1995	2010
	Pompano Commerce Center 2901	Industrial	—	2,177	3,896	789	2,178	4,684	6,862	1,758	2010	2010
	Pompano Commerce Center 3101	Industrial	—	2,905	4,095	571	2,916	4,655	7,571	1,805	2015	2015
	Pompano Commerce Center 2951	Industrial	—	2,177	4,465	37	2,178	4,501	6,679	1,720	2010	2010
	Pompano Commerce Center 3151	Industrial	—	2,897	3,939	121	2,908	4,049	6,957	1,369	2015	2015
	Sample 95 Business Park 3101	Industrial	—	2,860	6,115	565	2,860	6,680	9,540	2,464	1999	2010
	Sample 95 Business Park 3001	Industrial	—	2,568	6,135	121	2,568	6,256	8,824	2,264	1999	2011
	Sample 95 Business Park 3035	Industrial	—	3,218	4,288	411	3,218	4,699	7,917	1,759	1999	2011
	Sample 95 Business Park 3135	Industrial	—	1,463	4,890	858	1,463	5,748	7,211	2,441	1999	2010
	Copans Business Park 1551	Industrial	—	1,608	3,146	667	1,609	3,812	5,421	1,636	1989	2011
	Copans Business Park 1501	Industrial	—	1,723	3,367	365	1,723	3,732	5,455	1,339	1989	2011
	Park Central 1700	Industrial	—	3,584	6,361	863	3,585	7,223	10,808	2,760	1998	2011
	Park Central 2101	Industrial	—	2,336	5,756	1,135	2,337	6,890	9,227	2,736	1998	2011
	Park Central 3300	Industrial	—	1,417	2,846	434	1,417	3,280	4,697	1,309	1996	2011
	Park Central 100	Industrial	—	1,300	1,992	660	1,300	2,652	3,952	1,083	1998	2011
	Park Central 1300	Industrial	—	2,113	3,021	2,178	2,113	5,199	7,312	2,484	1997	2011
	Copans 95 1731	Industrial	—	3,511	5,889	1,749	3,518	7,631	11,149	864	2019	2019
Port Wentworth, Georgia
	100 Logistics Way	Industrial	4,019	1,975	11,043	2,283	2,005	13,296	15,301	5,561	2006	2006
	500 Expansion Boulevard	Industrial	1,903	649	5,842	144	649	5,986	6,635	2,202	2006	2008
	400 Expansion Boulevard	Industrial	—	1,636	13,186	2,798	1,636	15,984	17,620	5,223	2007	2008
	605 Expansion Boulevard	Industrial	—	1,615	6,852	5,273	1,615	12,125	13,740	2,833	2020	2008
	405 Expansion Boulevard	Industrial	—	535	3,192	50	535	3,242	3,777	1,088	2008	2009
	600 Expansion Boulevard	Industrial	—	1,248	9,392	33	1,248	9,425	10,673	3,139	2008	2009
	602 Expansion Boulevard	Industrial	—	1,840	10,981	88	1,859	11,050	12,909	3,617	2009	2009
Raleigh, North Carolina
	Walnut Creek 540	Industrial	—	419	1,651	1,054	419	2,705	3,124	1,287	2001	2001
	Walnut Creek 4000	Industrial	—	456	2,078	492	456	2,570	3,026	1,287	2001	2001
	Walnut Creek 3080	Industrial	—	679	2,766	1,534	679	4,300	4,979	2,055	2001	2001
	Walnut Creek 3070	Industrial	—	913	1,187	1,500	913	2,687	3,600	1,198	2004	2004
	Walnut Creek 3071	Industrial	—	1,718	2,746	618	1,718	3,364	5,082	2,321	2008	2008
Rancho Cucamonga, California
	9189 Utica Ave	Industrial	—	5,794	12,646	265	5,794	12,911	18,705	3,278	2016	2017
	10415 8th Street	Industrial	—	8,641	9,790	—	8,641	9,790	18,431	144	2021	2021

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Rancho Dominguez, California
	18700 Laurel Park Rd	Industrial	—	8,080	2,987	456	8,438	3,085	11,523	913	1971	2017
Redlands, California
	2300 W. San Bernadino Ave	Industrial	—	20,031	17,968	1,911	20,031	19,879	39,910	8,710	2001	2013
	9180 Alabama St.	Industrial	—	52,999	52,226	—	52,999	52,226	105,225	1,958	2021	2021
Richmond, California
	2041 Factory Street	Industrial	—	8,132	22,266	—	8,132	22,266	30,398	2,723	2000	2019
Romeoville, Illinois
	875 W. Crossroads Parkway	Industrial	—	4,113	7,274	1,685	4,113	8,959	13,072	3,665	2005	2005
	Crossroads 1255	Industrial	—	2,350	9,217	3,090	2,350	12,307	14,657	5,250	1999	2010
	Crossroads 801	Industrial	—	2,622	6,184	305	2,622	6,489	9,111	4,522	2009	2010
	1341-1343 Enterprise Drive	Industrial	—	3,076	12,150	394	3,076	12,544	15,620	2,930	2015	2015
	50-56 N. Paragon	Industrial	—	3,985	5,433	1,212	3,985	6,645	10,630	2,174	2017	2017
	Airport Logistics Center I	Industrial	—	9,133	17,187	5,843	11,282	20,881	32,163	2,998	2019	2019
Roseville, Minnesota
	2215 Highway 36 West	Industrial	—	1,132	5,931	1,283	1,132	7,214	8,346	2,852	1998	2011
	2420 Long Lake Road	Industrial	—	939	4,135	1,078	939	5,213	6,152	1,983	2000	2011
San Leandro, California
	1919 Williams Street	Grounds	—	27,739	2,038	493	27,739	2,531	30,270	574	n/a	2019
Santa Fe Springs, California
	13215 Cambridge Street	Industrial	—	3,558	10,167	—	3,558	10,167	13,725	122	2021	2021
Savannah, Georgia
	198 Gulfstream	Industrial	—	475	3,650	956	476	4,605	5,081	1,706	1997	2006
	194 Gulfstream	Industrial	—	358	2,359	285	358	2,644	3,002	1,058	1998	2006
	190 Gulfstream	Industrial	—	599	4,134	372	599	4,506	5,105	1,849	1999	2006
	250 Grange Road	Industrial	—	771	7,776	51	771	7,827	8,598	3,130	2002	2006
	248 Grange Road	Industrial	—	529	3,180	8	529	3,188	3,717	1,278	2002	2006
	318 Grange Road	Industrial	—	759	4,131	892	759	5,023	5,782	1,900	2001	2006
	246 Grange Road	Industrial	2,096	972	7,486	744	972	8,230	9,202	3,123	2006	2006
	163 Portside Court	Industrial	—	5,260	7,746	260	5,260	8,006	13,266	3,212	2004	2006
	151 Portside Court	Industrial	—	840	7,117	1,398	790	8,565	9,355	3,298	2003	2006
	175 Portside Court	Industrial	4,206	3,740	13,344	1,619	4,229	14,474	18,703	5,831	2005	2006

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	235 Jimmy Deloach Parkway	Industrial	—	934	7,201	1,277	893	8,519	9,412	3,529	2001	2006
	239 Jimmy Deloach Parkway	Industrial	—	934	6,424	732	934	7,156	8,090	2,961	2001	2006
	246 Jimmy Deloach Parkway	Industrial	1,274	863	4,878	33	806	4,968	5,774	1,999	2006	2006
	200 Logistics Way	Industrial	2,955	878	9,274	1,337	883	10,606	11,489	3,513	2006	2008
	2509 Dean Forest Road	Industrial	—	2,080	5,987	2,477	2,602	7,942	10,544	3,236	2008	2011
	276 Jimmy Deloach Parkway	Industrial	—	6,772	6,405	327	6,772	6,732	13,504	1,211	2019	2019
Sea Brook, Texas
	Bayport Logistics 5300	Industrial	—	1,578	11,361	195	1,577	11,557	13,134	4,304	2009	2010
	Bayport Logistics 5801	Industrial	—	5,116	7,663	251	5,116	7,914	13,030	3,021	2015	2015
Shakopee, Minnesota
	3880 4th Avenue East	Industrial	—	1,023	6,102	36	1,049	6,112	7,161	2,083	2000	2011
	Gateway South 2301	Industrial	—	2,648	11,898	91	2,647	11,990	14,637	2,881	2016	2016
	Gateway South 2101	Industrial	—	4,273	16,252	90	4,273	16,342	20,615	3,406	2017	2017
Sharonville, Ohio
	Mosteller 11400	Industrial	—	408	2,705	3,773	408	6,478	6,886	3,190	1997	1997
South Brunswick, New Jersey
	10 Broadway Road	Industrial	—	15,168	13,916	1,226	15,168	15,142	30,310	4,445	2017	2017
Stafford, Texas
	10225 Mula Road	Industrial	—	3,502	2,656	3,845	3,502	6,501	10,003	3,987	2008	2008
Sterling, Virginia
	TransDulles Centre 22601	Industrial	—	1,700	5,001	602	1,700	5,603	7,303	3,022	2004	2016
	TransDulles Centre 22620	Industrial	—	773	1,957	16	773	1,973	2,746	1,063	1999	2016
	TransDulles Centre 22626	Industrial	—	1,544	3,874	321	1,544	4,195	5,739	2,198	1999	2016
	TransDulles Centre 22633	Industrial	—	702	1,586	34	702	1,620	2,322	861	2004	2016
	TransDulles Centre 22635	Industrial	—	1,753	4,182	17	1,753	4,199	5,952	2,270	1999	2016
	TransDulles Centre 22645	Industrial	—	1,228	3,411	379	1,228	3,790	5,018	1,985	2005	2016
	TransDulles Centre 22714	Industrial	—	3,973	3,535	1,251	3,973	4,786	8,759	3,045	2007	2007
	TransDulles Centre 22750	Industrial	—	2,068	4,970	357	2,068	5,327	7,395	2,802	2003	2016
	TransDulles Centre 22815	Industrial	—	7,685	5,713	414	7,685	6,127	13,812	3,634	2000	2016
	TransDulles Centre 22825	Industrial	—	1,758	4,951	305	1,758	5,256	7,014	2,761	1997	2016
	TransDulles Centre 22879	Industrial	—	2,828	8,425	399	2,828	8,824	11,652	4,648	1989	2016
	TransDulles Centre 22880	Industrial	—	2,311	4,922	10	2,311	4,932	7,243	2,785	1998	2016
	TransDulles Centre 46213	Industrial	—	5,912	3,965	462	5,912	4,427	10,339	2,105	2015	2015
Sumner, Washington
	13501 38th Street East	Industrial	—	16,032	4,954	332	16,032	5,286	21,318	5,277	2005	2007
	4800 E Valley Highway	Industrial	—	12,567	21,838	—	12,567	21,838	34,405	3,707	2004	2019

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DUKE REALTY CORPORATION AND DUKE REALTY LIMITED PARTNERSHIP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	1510 Puyallup Street	Industrial	—	12,040	13,225	—	12,040	13,225	25,265	175	2021	2021
Suwanee, Georgia
	Horizon Business 90	Industrial	—	153	1,143	221	153	1,364	1,517	497	2002	2010
	Horizon Business 225	Industrial	—	388	2,048	703	389	2,750	3,139	1,289	1990	2010
	Horizon Business 250	Industrial	—	1,381	5,660	1,172	1,381	6,832	8,213	2,848	1997	2010
	Horizon Business 70	Industrial	—	813	3,397	1,015	812	4,413	5,225	1,779	1998	2010
	Horizon Business 2780	Industrial	—	972	5,576	2,128	972	7,704	8,676	2,718	1997	2010
	Horizon Business 25	Industrial	—	615	2,390	2,007	614	4,398	5,012	2,008	1999	2010
	Horizon Business 2790	Industrial	—	780	4,952	—	780	4,952	5,732	1,899	2006	2010
	1000 Northbrook Parkway	Industrial	—	643	2,974	729	643	3,703	4,346	1,618	1986	2010
Tampa, Florida
	Fairfield Distribution 8640	Industrial	—	483	2,359	1,080	487	3,435	3,922	1,733	1998	1999
	Fairfield Distribution 4720	Industrial	—	530	4,624	590	534	5,210	5,744	2,854	1998	1999
	Fairfield Distribution 4758	Industrial	—	334	2,658	756	338	3,410	3,748	1,792	1999	1999
	Fairfield Distribution 8600	Industrial	—	600	1,185	2,084	604	3,265	3,869	1,921	1999	1999
	Fairfield Distribution 4901	Industrial	—	488	2,425	1,136	488	3,561	4,049	1,875	2000	2000
	Fairfield Distribution 4727	Industrial	—	555	3,348	1,785	555	5,133	5,688	2,299	2001	2001
	Fairfield Distribution 4701	Industrial	—	394	1,350	2,244	394	3,594	3,988	1,509	2001	2001
	Fairfield Distribution 4661	Industrial	—	444	1,640	879	444	2,519	2,963	1,191	2004	2004
	Eagle Creek Business 8701	Industrial	—	1,286	2,331	2,702	1,287	5,032	6,319	2,407	2006	2006
	Eagle Creek Business 8651	Industrial	—	2,354	1,661	1,660	2,354	3,321	5,675	2,975	2007	2007
	Eagle Creek Business 8601	Industrial	—	2,332	2,229	892	2,332	3,121	5,453	2,596	2007	2007
	Pinebrooke Bus Center 10350	Industrial	—	2,457	6,211	393	2,457	6,604	9,061	517	2020	2020
Teterboro, New Jersey
	1 Catherine Street	Industrial	—	14,376	18,788	11	14,376	18,799	33,175	4,652	2016	2017
Tracy, California
	1400 Pescadero Avenue	Industrial	—	9,633	39,644	—	9,633	39,644	49,277	15,142	2008	2013
	1124 E Pescadero Ave	Grounds	—	24,944	—	—	24,944	—	24,944	768	2021	2021
West Chester, Ohio
	World Park Union Centre 9287	Industrial	—	582	827	7,518	582	8,345	8,927	3,364	2006	2006
	World Park Union Centre 9271	Industrial	—	557	5,923	528	557	6,451	7,008	2,804	2004	2004
	World Park Union Centre 9266	Industrial	—	956	5,951	440	956	6,391	7,347	2,535	1999	2010
	World Park Union Centre 9451	Industrial	—	1,036	6,053	873	1,036	6,926	7,962	2,685	1999	2010
	World Park Union Centre 5443	Industrial	—	935	4,753	429	935	5,182	6,117	2,019	2005	2010
	World Park Union Centre 9107	Industrial	—	986	5,962	1,578	986	7,540	8,526	3,305	1999	2010
	World Park Union Centre 9245	Industrial	—	1,011	5,535	782	1,010	6,318	7,328	2,515	2001	2010

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
West Palm Beach, Florida
	Park of Commerce 5655	Industrial	—	1,417	1,728	310	1,417	2,038	3,455	757	2010	2010
	Park of Commerce 5720	Industrial	—	1,872	3,633	844	2,032	4,317	6,349	1,636	2010	2010
	Airport Center 1701	Industrial	—	2,112	5,844	689	2,112	6,533	8,645	2,628	2002	2010
	Airport Center 1805	Industrial	—	1,478	4,445	251	1,479	4,695	6,174	1,785	2002	2010
	Airport Center 1865	Industrial	—	1,300	4,168	773	1,300	4,941	6,241	1,843	2002	2010
	Park of Commerce #4	Grounds	—	5,882	—	—	5,882	—	5,882	—	n/a	2011
	Park of Commerce #5	Grounds	—	6,258	—	—	6,258	—	6,258	—	n/a	2011
	Turnpike Crossing 1315	Industrial	—	7,390	5,391	353	7,390	5,744	13,134	2,393	2016	2016
	Turnpike Crossing 1333	Industrial	—	6,255	4,560	975	6,255	5,535	11,790	2,439	2016	2016
	Turnpike Crossing 6747	Industrial	—	10,607	7,112	2,786	10,607	9,898	20,505	3,301	2017	2017
	Turnpike Crossing 6729	Industrial	—	8,576	7,506	723	8,576	8,229	16,805	1,902	2018	2018
	Turnpike Crossing 6711	Industrial	—	8,328	7,210	38	8,340	7,236	15,576	927	2019	2019
	Turnpike Crossing 6717	Industrial	—	7,849	9,542	1,378	7,850	10,919	18,769	947	2020	2020
Wilmer, TX
	110 Sunridge Blvd	Industrial	—	5,692	18,751	—	5,692	18,751	24,443	407	2021	2021
Wind Gap, Pennsylvania
	1380 Jacobsburg Road	Industrial	—	15,500	25,247	753	15,500	26,000	41,500	4,555	2017	2019
Wood-Ridge, New Jersey
	5 Ethel Boulevard	Industrial	—	18,776	24,752	32	18,776	24,784	43,560	3,009	2019	2019
	Accum. Depr. on Improvements of Undeveloped Land									561
	Eliminations					(20)	(16)	(4)	(20)	9
	Properties held-for-sale						(67,818)	(102,867)	(170,685)	(36,785)
			59,722	3,480,500	5,473,564	660,060	3,435,591	6,007,848	9,443,439	1,684,413

(1)The tax basis (in thousands) of our real estate assets at December 31, 2021 was approximately $8,734,029 (unaudited) for federal income tax purposes.

(2)Depreciation of real estate is computed using the straight-line method not to exceed 40 years for buildings and 15 years for land improvements for properties that we develop, and not to exceed 30 years for buildings and 10 years for land improvements for properties that we acquire. Tenant improvements are depreciated over shorter periods based on lease terms (generally 3 to 10 years).

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

	Real Estate Assets						Accumulated Depreciation
	2021		2020		2019		2021		2020		2019
Balance at beginning of year	$	8,768,432	$	7,851,278	$	7,248,346	$	1,665,284	$	1,487,593	$	1,345,060
Acquisitions	595,719		410,003		205,390
Construction costs and tenant improvements	979,367		796,312		635,173
Depreciation expense							304,935		297,158		272,422
Cost of real estate sold or contributed	(598,445)		(203,502)		(176,603)		(118,072)		(33,808)		(68,861)
Write-off of fully depreciated assets	(130,949)		(85,659)		(61,028)		(130,949)		(85,659)		(61,028)
Balance at end of year including held-for-sale	$	9,614,124	$	8,768,432	$	7,851,278	$	1,721,198	$	1,665,284	$	1,487,593
Properties held-for-sale	(170,685)		(72,754)		(23,401)		(36,785)		(5,976)		(7,132)
Balance at end of year excluding held-for-sale	$	9,443,439	$	8,695,678	$	7,827,877	$	1,684,413	$	1,659,308	$	1,480,461
Other real estate investments	172,637		49,477		165,500
Real estate assets	$	9,616,076	$	8,745,155	$	7,993,377

See Accompanying Notes to Independent Auditors' Report

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Item 16.  Form 10-K Summary

Not applicable.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following exhibits are filed with this Form 10-K or incorporated herein by reference to the listed document previously filed with the SEC. Previously unfiled documents are noted with an asterisk (*). 

Number	Description
3.1	Sixth Amended and Restated Articles of Incorporation of the General Partner (filed as Exhibit 3.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on January 5, 2015, and incorporated herein by this reference).
3.2	Fifth Amended and Restated Bylaws of the General Partner (filed as Exhibit 3.1 to the General Partner's Current Report on Form 8-K as filed with the SEC on October 26, 2017, and incorporated herein by this reference).
3.3	Certificate of Limited Partnership of the Partnership, dated September 17, 1993 (filed as Exhibit 3.1(i) to the Partnership's Annual Report on Form 10-K for the year ended December 31, 2006 as filed with the SEC on March 13, 2007, and incorporated herein by this reference) (File No. 000-20625).
3.4(i)	Fifth Amended and Restated Agreement of Limited Partnership of the Partnership (filed as Exhibit 3.2 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on May 5, 2014, and incorporated herein by this reference).
3.4(ii)	First Amendment to Fifth Amended and Restated Agreement of Limited Partnership of the Partnership (filed as Exhibit 3.2 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on August 6, 2014, and incorporated herein by this reference).
3.4(iii)	Second Amendment to Fifth Amended and Restated Agreement of Limited Partnership of the Partnership (filed as Exhibit 3.2 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on December 16, 2014, and incorporated herein by this reference).
3.4(iv)	Third Amendment to Fifth Amended and Restated Agreement of Limited Partnership of the Partnership (filed as Exhibit 3.2 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on January 5, 2015, and incorporated herein by this reference).
3.4(v)	Fourth Amendment to Fifth Amended and Restated Agreement of Limited Partnership of the Partnership (filed as Exhibit 3.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on January 29, 2015, and incorporated herein by this reference).
3.4(vi)	Fifth Amendment to Fifth Amended and Restated Agreement of Limited Partnership of Duke Realty Limited Partnership, dated October 24, 2018 (filed as Exhibit 3.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on October 25, 2018, and incorporated herein by this reference).
4.1	Specimen certificate for shares of common stock, $.01 par value (filed as Exhibit 4.1 to the combined Annual Report on Form 10-K of the General Partner and Partnership as filed with the SEC on February 16, 2018, and incorporated herein by this reference).
4.2(i)	Indenture, dated September 19, 1995, between the Partnership and The First National Bank of Chicago, Trustee (filed as Exhibit 4.1 to the General Partner's Current Report on Form 8-K as filed with the SEC on September 22, 1995, and incorporated herein by this reference) (File No. 001-09044).

4.2(ii) Twentieth Supplemental Indenture, dated as of July 24, 2006, by and between the Partnership and J.P. Morgan Trust Company, National Association (successor in interest to The First National Bank of Chicago), modifying certain financial covenants contained in Sections 1004 and 1005 of the Indenture, dated September 19, 1995, between the Partnership and The First National Bank of Chicago, Trustee (filed as Exhibit 4.1 to the Partnership's Current Report on Form 8-K as filed with the SEC on July 28, 2006, and incorporated herein by this reference) (File No. 000-20625).

4.3(i)

Indenture, dated as of July 28, 2006, by and between the Partnership and J.P. Morgan Trust Company, National Association (filed as Exhibit 4.1 to the General Partner's automatic shelf registration statement on Form S-3 as filed with the SEC on July 31, 2006, and incorporated herein by this reference) (File No. 333-136173).

4.3(ii)

Ninth Supplemental Indenture, dated September 19, 2012, by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 3.875% Senior Notes Due 2022 (filed as Exhibit 4.1 to the General Partner's Current Report on Form 8-K as filed with the SEC on September 19, 2012, and incorporated herein by this reference).

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4.3(iii)	Tenth Supplemental Indenture, dated March 15, 2013, by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 3.625% Senior Notes Due 2023 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on March 15, 2013, and incorporated herein by this reference).
4.3(iv)	Twelfth Supplemental Indenture, dated as of November 17, 2014, by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 3.75% Senior Notes Due 2024 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on November 17, 2014, and incorporated herein by this reference).
4.3(v)	Thirteenth Supplemental Indenture, dated as of June 23, 2016, by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), as trustee, including the form of global note evidencing the 3.250% Senior Notes Due 2026 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on June 23, 2016, and incorporated herein by this reference).
4.3(vi)	Fourteenth Supplemental Indenture, dated as of December 12, 2017, by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 3.75% Senior Notes Due 2027 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on December 12, 2017, and incorporated herein by this reference).
4.3(vii)	Fifteenth Supplemental Indenture, dated as of September 11, 2018, by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 4.000% Senior Notes Due 2028 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on September 11, 2018, and incorporated herein by this reference).
4.3(viii)	Sixteenth Supplemental Indenture, dated as of November 15, 2019 by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 2.875% Senior Notes Due 2029 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on November 15, 2019, and incorporated herein by this reference).
4.3(ix)	Seventeenth Supplemental Indenture, dated as of February 21, 2020 by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 3.05% Senior Notes Due 2050 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership, filed with the SEC on February 21, 2020, and incorporated herein by this reference).
4.3(x)	Eighteenth Supplemental Indenture, dated as of June 29, 2020 by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 1.75% Senior Notes Due 2030 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership, filed with the SEC on June 29, 2020, and incorporated herein by this reference).
4.3(xi)	Nineteenth Supplemental Indenture, dated as of January 21, 2021, by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 1.750% Senior Notes Due 2031 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on January 21, 2021, and incorporated herein by this reference).
4.3(xii)	Twentieth Supplemental Indenture, dated as of November 10, 2021, by and between the Partnership and The Bank of New York Mellon Trust Company, N.A. (as successor to J.P. Morgan Trust Company, National Association), including the form of global note evidencing the 2.250% Senior Notes due 2032 (filed as Exhibit 4.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership, filed with the SEC on November 12, 2021, and incorporated herein by this reference).
4.4	Description of Securities (filed as Exhibit 4.4 to the combined Annual Report on Form 10-K of the General Partner and Partnership as filed with the SEC on February 25, 2020, and incorporated herein by this reference).
10.1(i)	The General Partner's 2015 Long-Term Incentive Plan (filed as Exhibit 10.1 to the General Partner’s Current Report on Form 8-K as filed with the SEC on May 4, 2015, and incorporated herein by this reference).#
10.1(ii)	Form of LTIP Unit Award Agreement (filed as Exhibit 10.1 to the combined Quarterly Report on Form 10-Q of the General Partner and the Partnership as filed with the SEC on May 1, 2020, and incorporated herein by this reference). #

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

10.1(iii)	Form of Restricted Stock Unit Award Certificate for non-employee directors under the General Partner's 2015 Long-Term Incentive Plan (filed as Exhibit 10.2 to the combined Quarterly Report on Form 10-Q of the General Partner and the Partnership as filed with the SEC on May 1, 2020, and incorporated herein by this reference). #
10.1(iv)	Form of Restricted Stock Unit Award Certificate under the General Partner's 2015 Long-Term Incentive Plan (filed as Exhibit 10.3 to the combined Quarterly Report on Form 10-Q of the General Partner and the Partnership as filed with the SEC on May 1, 2020, and incorporated herein by this reference). #
10.2(i)	The General Partner's 2000 Performance Share Plan, Amended and Restated as of January 30, 2008, a sub-plan of the 2015 Long-Term Incentive Plan (filed as Exhibit 10.4(i) to the combined Annual Report on Form 10-K of the General Partner and the Partnership as filed with the SEC on February 22, 2013, and incorporated herein by this reference).#
10.2(ii)	Amendment to the 2004 Award Agreement under the General Partner's 2000 Performance Share Plan (filed as Exhibit 10.4(ii) to the combined Annual Report on Form 10-K of the General Partner and the Partnership as filed with the SEC on February 22, 2013, and incorporated herein by this reference).#
10.3(i)	The General Partner's 2010 Performance Share Plan, a sub-plan of the 2015 Long-Term Incentive Plan (filed as Exhibit 10.5(i) to the combined Annual Report on Form 10-K of the General Partner and the Partnership as filed with the SEC on February 22, 2013, and incorporated herein by this reference).#

10.3(ii)	First Amendment to the General Partner's 2010 Performance Share Plan, a sub-plan of the 2015 Long-Term Incentive Plan (filed as Exhibit 10.1 to the General Partner’s Current Report on Form 8-K as filed with the SEC on January 29, 2015, and incorporated herein by this reference).#
10.3(iii)	Form of Award Certificate under the General Partner's 2010 Performance Share Plan, a sub-plan of the 2015 Long-Term Incentive Plan (filed as Exhibit 10.4 to the combined Quarterly Report on Form 10-Q of the General Partner and the Partnership as filed with the SEC on May 1, 2020, and incorporated herein by this reference).#
10.3(iv)	Form of 2010 Performance Share Plan LTIP Unit Award Agreement (filed as Exhibit 10.5 to the combined Quarterly Report on Form 10-Q of the General Partner and the Partnership as filed with the SEC on May 1, 2020, and incorporated herein by this reference).#

10.4(i)	Executives' Deferred Compensation Plan of Duke Realty Services Limited Partnership, Amended and Restated as of December 5, 2007 (filed as Exhibit 10.13(i) to the combined Annual Report on Form 10-K of the General Partner and the Partnership as filed with the SEC on February 22, 2013, and incorporated herein by this reference).#
10.4(ii)	Amendment Number One to the Executives' Deferred Compensation Plan of Duke Realty Services Limited Partnership, Amended and Restated as of December 5, 2007 (filed as Exhibit 10.13(ii) to the combined Annual Report on Form 10-K of the General Partner and the Partnership as filed with the SEC on February 22, 2013, and incorporated herein by this reference).#
10.5	The General Partner's Directors' Deferred Compensation Plan, Amended and Restated as of January 30, 2008 (filed as Exhibit 10.14 to the combined Annual Report on Form 10-K of the General Partner and the Partnership as filed with the SEC on February 22, 2013, and incorporated herein by this reference).#
10.6	The General Partner’s 2015 Non-Employee Directors Compensation Plan, a sub-plan of the 2015 Long-Term Incentive Plan (filed as Exhibit 10.5 to the combined Quarterly Report on Form 10-Q of the General Partner and the Partnership, as filed with the SEC on May 1, 2015, and incorporated herein by this reference).#
10.7	Form of Amended and Restated Severance Agreement between the Company and its executive officers (filed as Exhibit 10.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on January 31, 2019, and incorporated herein by this reference).#

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

10.8	Amended and Restated Revolving Credit Agreement, dated March 26, 2021, by and among the Partnership, the General Partner, JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC as Joint Lead Arrangers and Joint Book Runners, with JPMorgan Chase Bank, N.A. as Administrative Agent; Wells Fargo Bank, National Association as Syndication Agent; The Bank of Nova Scotia and Regions Capital Markets, a Division of Regions Bank, as Joint Lead Arrangers; The Bank of Nova Scotia, Barclays Bank PLC, Citibank N.A., Morgan Stanley Senior Funding, Inc., PNC Bank, National Association, Regions Bank, Royal Bank of Canada, Truist Bank and U.S. Bank National Association as Documentation Agents, and the several banks, financial institutions and other entities from time to time parties thereto as lenders (filed as Exhibit 10.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on March 29, 2021, and incorporated herein by this reference).
10.9	Amended and Restated Guaranty, dated October 11, 2017 by the General Partner (filed as Exhibit 10.2 to the Combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on October 12, 2017, and incorporated herein by this reference).
10.10	Equity Distribution Agreement, dated August 2, 2019, by and among the General Partner, the Partnership, BTIG LLC, Citigroup Global Markets Inc., Jefferies LLC, Morgan Stanley & Co. LLC, Regions Securities LLC, SunTrust Robinson Humphrey, Inc., UBS Securities LLC, and Wells Fargo Securities, LLC (filed as Exhibit 1.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on August 2, 2019, and incorporated herein by this reference).
10.11	Equity Distribution Agreement, dated February 19, 2021, by and among the Company, the Partnership and each Agent and its related Forward Purchaser (filed as Exhibit 1.1 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on February 19, 2021, and incorporated herein by this reference).
10.12	Form of Master Confirmation (filed as Exhibit 1.2 to the combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on February 19, 2021, and incorporated herein by this reference).
10.13	Amended and Restated Guaranty, dated March 26, 2021, by the General Partner (filed as Exhibit 10.2 to the Combined Current Report on Form 8-K of the General Partner and the Partnership as filed with the SEC on March 29, 2021, and incorporated herein by this reference).

21.1	List of the Company's Subsidiaries.*
23.1	Consent of KPMG LLP relating to the General Partner.*
23.2	Consent of KPMG LLP relating to the Partnership.*
24.1	Executed Powers of Attorney of certain directors.*
31.1	Rule 13a-14(a) Certification of the Chief Executive Officer of the General Partner.*
31.2	Rule 13a-14(a) Certification of the Chief Financial Officer of the General Partner.*
31.3	Rule 13a-14(a) Certification of the Chief Executive Officer for the Partnership.*
31.4	Rule 13a-14(a) Certification of the Chief Financial Officer for the Partnership.*
32.1	Section 1350 Certification of the Chief Executive Officer of the General Partner. * **
32.2	Section 1350 Certification of the Chief Financial Officer of the General Partner. * **
32.3	Section 1350 Certification of the Chief Executive Officer for the Partnership. * **
32.4	Section 1350 Certification of the Chief Financial Officer for the Partnership. * **
99.1	Federal Income Tax Considerations.*
101.Def	Definition Linkbase Document
101.Pre	Presentation Linkbase Document
101.Lab	Labels Linkbase Document
101.Cal	Calculation Linkbase Document
101.Sch	Schema Document
101.Ins	Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
104	Cover Page Interactive Data File (embedded within the Inline XBRL document and contained in Exhibit 101)

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

# Represents management contract or compensatory plan or arrangement.

* Filed herewith.

** The certifications attached as Exhibits 32.1, 32.2, 32.3 and 32.4 accompany this Report and are "furnished" to the Securities and Exchange Commission pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed "filed" by the General Partner or the Partnership, respectively, for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

We will furnish to any security holder, upon written request, copies of any exhibit incorporated by reference, for a fee of 15 cents per page, to cover the costs of furnishing the exhibits. Written requests should include a representation that the person making the request was the beneficial owner of securities entitled to vote at the Annual Meeting of Shareholders.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DUKE REALTY CORPORATION

/s/ James B. Connor

James B. Connor

Chairman and Chief Executive Officer

(Principal Executive Officer)

/s/ Mark A. Denien

Mark A. Denien

Executive Vice President and Chief Financial Officer

(Principal Financial and Accounting Officer)

		DUKE REALTY LIMITED PARTNERSHIP
		By: DUKE REALTY CORPORATION, its general partner
		/s/ James B. Connor
		James B. Connor
		Chairman and Chief Executive Officer of the General Partner
		(Principal Executive Officer)
		/s/ Mark A. Denien
		Mark A. Denien
		Executive Vice President and Chief Financial Officer of the General Partner
		(Principal Financial and Accounting Officer)
Date:	February 18, 2022

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. 

Signature	Date	Title
/s/ James B. Connor	2/18/2022	Chairman and Chief Executive Officer (Principal Executive Officer)
James B. Connor
/s/ Mark A. Denien	2/18/2022	Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)
Mark A. Denien
/s/ John P. Case*	2/18/2022	Director
John P. Case
/s/ Kelly T. Killingsworth*	2/18/2022	Director
Kelly T. Killingsworth
/s/ Tamara D. Fischer*	2/18/2022	Director
Tamara D. Fischer*
/s/ Norman K. Jenkins*	2/18/2022	Director
Norman K. Jenkins
/s/ Melanie R. Sabelhaus*	2/18/2022	Director
Melanie R. Sabelhaus
/s/ Peter M. Scott III*	2/18/2022	Director
Peter M. Scott III
/s/ David P. Stockert*	2/18/2022	Director
David P. Stockert
/s/ Chris T. Sultemeier*	2/18/2022	Director
Chris T. Sultemeier
/s/ Michael E. Szymanczyk*	2/18/2022	Director
Michael E. Szymanczyk
/s/ Warren M.Thompson*	2/18/2022	Director
Warren M. Thompson
/s/ Lynn C. Thurber*	2/18/2022	Director
Lynn C. Thurber

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

* By James B. Connor, Attorney-in-Fact /s/ James B. Connor

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EX-21.1

EXHIBIT 21.1
	State of Incorporation
Subsidiary (1)	or Organization	Name(s) under which Subsidiary Conducts Business
The financial statements of the following entities were consolidated into the financial statements of the Registrant at December 31, 2021
Duke Realty Corporation (2):
Duke Realty Limited Partnership	Indiana	Duke Realty Limited Partnership;
		Duke Realty of Indiana Limited Partnership (AZ, KY, MO, NC);
		Duke Indiana Realty Limited Partnership (TX)
Duke Realty Corporation and Duke Realty Limited Partnership:
Duke Acquisition, Inc.	Georgia	Duke Acquisition, Inc.
Duke Realty Ohio	Indiana	Duke Realty Ohio
Duke Construction Limited Partnership	Indiana	Duke Construction Limited Partnership;
		Duke Indiana Construction Limited Partnership (FL, NJ);
		Duke Construction Limited Partnership of Michigan (MI);
		Duke Indiana Construction (NY);
		Duke Construction, an Indiana limited partnership (WI);
		Indiana Construction (AZ)
Duke Realty Construction, Inc.	Indiana	Duke Realty Construction, Inc.
Duke Realty Services, LLC	Indiana	Duke Realty Services, LLC (PA, WA);
		Duke Realty Services of Indiana, LLC (KY, MO, WI);
		Duke Realty Services of VA, LLC (VA);
		Duke Texas Realty Services, LLC (TX)
Duke Realty Services Limited Partnership	Indiana	Duke Realty Services Limited Partnership;
		Duke Realty Services of Indiana Limited Partnership (AZ, WA)
Duke Business Centers Corporation	Indiana	Duke Business Centers Corporation
Kenwood Office Associates	Ohio	Kenwood Office Associates
Duke Realty Land, LLC	Indiana	Duke Realty Land, LLC
PK-Duke Development, LLC	Indiana	PK-Duke Development, LLC
USLF I REIT, LLC	Delaware	USLF I REIT, LLC
Duke Realty Corporation and Duke Realty Limited Partnership accounted for the following entities on the equity method at December 31, 2021
B/D Ohio Limited Partnership	Indiana	B/D Ohio Limited Partnership
Dugan Texas LLC	Delaware	Dugan Texas LLC
Lamida Group, L.L.C.	Indiana	Lamida Group, L.L.C.
Cincinnati Development Group/Other Ventures LLC	Ohio	Cincinnati Development Group/Other Ventures LLC
AD West End, LLC	Indiana	AD West End, LLC
Browning/Duke, LLC	Delaware	Browning/Duke, LLC
Browning/Duke II, LLC	Delaware	Browning/Duke II, LLC
DRCS, LLC	Delaware	DRCS, LLC
Hangar, LLC	Indiana	Hangar, LLC
AP Anson 7B, LLC	Delaware	AP Anson 7B, LLC
AP Midwest 8, LLC	Delaware	AP Midwest 8, LLC
Duke/Allpoints Indy, LLC	Delaware	Duke/Allpoints Indy, LLC
AireCorr, LLC	Indiana	Airecorr, LLC
USLP Zeta Venture, LLC	Delaware	USLP Zeta Venture, LLC
(1) The names of certain subsidiaries which, if considered in the aggregate as a single subsidiary, would not constitute a “significant subsidiary”, have been omitted pursuant to Item 601(b)(21)(ii) of Regulation S-K.
(2) Duke Realty Corporation is the parent of 195wholly owned subsidiaries that are organized and operated in the United States, and are in the real estate ownership, operating, and development business.

EX-23.1

EXHIBIT 23.1

Consent of Independent Registered Public Accounting Firm

The Board of Directors

Duke Realty Corporation:

We consent to the incorporation by reference in the registration statements (No. 333-255633, No. 333-232816, No. 333-128132, No. 333-108556, No. 333-70678, No. 333-59138, No. 333-51344, No. 333-39498, No. 333-35008, No. 333-85009, No. 333-82063, No. 333-66919, No. 333-50081, No. 333-26833, No. 333-24289 and No. 033-64659) on Form S-3, (No. 333-77645) on Form S-4 and (No. 333-205981, No. 333-185583, No. 333-160960, No. 333-128133, No. 333-124364, No. 333-113907, No. 333-59508, No. 333-35162, No. 333-39965 and No. 033-55727) on Form S-8 of our report dated February 18, 2022, with respect to the consolidated financial statements and financial statement schedule III of Duke Realty Corporation and the effectiveness of internal control over financial reporting.

/s/ KPMG LLP

Indianapolis, Indiana

February 18, 2022

EX-23.2

EXHIBIT 23.2

Consent of Independent Registered Public Accounting Firm

The Board of Directors

Duke Realty Corporation:

We consent to the incorporation by reference in the registration statement (No. 333-224538-01) on Form S-3 of our report dated February 18, 2022, with respect to the consolidated financial statements and financial statement schedule III of Duke Realty Limited Partnership and the effectiveness of internal control over financial reporting.

/s/ KPMG LLP

Indianapolis, Indiana

February 18, 2022

EX-24.1

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, his attorneys-in-fact and agents, with full power of substitution and resubstitution for him in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/    John P. Case

John P. Case

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, her attorneys-in-fact and agents, with full power of substitution and resubstitution for her in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/    Kelly T. Killingsworth

Kelly T. Killingsworth

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, her attorneys-in-fact and agents, with full power of substitution and resubstitution for her in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022    

/s/    Tamara D. Fischer

Tamara D. Fischer

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, his attorneys-in-fact and agents, with full power of substitution and resubstitution for him in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/     Norman K. Jenkins

Norman K. Jenkins

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, her attorneys-in-fact and agents, with full power of substitution and resubstitution for her in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s / Melanie R. Sabelhaus

Melanie R. Sabelhaus

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, his attorneys-in-fact and agents, with full power of substitution and resubstitution for him in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/    Peter M. Scott III

Peter M. Scott III

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, his attorneys-in-fact and agents, with full power of substitution and resubstitution for him in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/    David P. Stockert

David P. Stockert

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, his attorneys-in-fact and agents, with full power of substitution and resubstitution for him in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/    Chris T. Sultemeier

Chris T. Sultemeier

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, his attorneys-in-fact and agents, with full power of substitution and resubstitution for him in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/    Michael E. Szymanczyk

Michael E. Szymanczyk

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, his attorneys-in-fact and agents, with full power of substitution and resubstitution for him in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/    Warren M. Thompson

Warren M. Thompson

EXHIBIT 24.1

POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints James B. Connor, Mark A. Denien, and Ann C. Dee, and each of them, her attorneys-in-fact and agents, with full power of substitution and resubstitution for her in any and all capacities, to sign the combined annual report on Form 10-K of Duke Realty Corporation and Duke Realty Limited Partnership for the year ended December 31, 2021, and any amendment thereof, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each of such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary in connection with such matters and hereby ratifying and confirming all that each of such attorneys-in-fact and agents or his or her substitute or substitutes may do or cause to be done by virtue hereof.

Dated: February 18, 2022                    

/s/    Lynn C. Thurber

Lynn C. Thurber

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

I, James B. Connor, certify that:

1. I have reviewed this Annual Report on Form 10-K of Duke Realty Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

    a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

    b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

    c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

    d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

    a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

    b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 18, 2022

/s/ James B. Connor

James B. Connor

Chairman and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Mark A. Denien, certify that:

1. I have reviewed this Annual Report on Form 10-K of Duke Realty Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

    a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

    b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

    c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

    d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

    a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

    b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 18, 2022

/s/ Mark A. Denien

Mark A. Denien

Executive Vice President and Chief Financial Officer

EX-31.3

EXHIBIT 31.3

DUKE REALTY LIMITED PARTNERSHIP

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

I, James B. Connor, certify that:

1I have reviewed this Annual Report on Form 10-K of Duke Realty Limited Partnership;

2Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 18, 2022

/s/ James B. Connor

James B. Connor

Chairman and Chief Executive Officer of the General Partner

EX-31.4

EXHIBIT 31.4

DUKE REALTY LIMITED PARTNERSHIP

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

I, Mark A. Denien, certify that:

1I have reviewed this Annual Report on Form 10-K of Duke Realty Limited Partnership;

2Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 18, 2022

/s/ Mark A. Denien

Mark A. Denien

Executive Vice President and Chief Financial Officer of the General Partner

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Duke Realty Corporation (the “General Partner”) on Form 10-K for the year ending December 31, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, James B. Connor, Chairman and Chief Executive Officer of the General Partner, certify, pursuant to 18 U.S.C. § Section 1350, as adopted pursuant to § Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the General Partner.

/s/ James B. Connor
James B. Connor
Chairman and Chief Executive Officer
Date:	February 18, 2022

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Duke Realty Corporation, and will be retained by Duke Realty Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Duke Realty Corporation (the “General Partner”) on Form 10-K for the year ending December 31, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Mark A. Denien, Executive Vice President and Chief Financial Officer of the General Partner, certify, pursuant to 18 U.S.C. § Section 1350, as adopted pursuant to § Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the General Partner.

/s/ Mark A. Denien
Mark A. Denien
Executive Vice President and Chief Financial Officer
Date:	February 18, 2022

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Duke Realty Corporation, and will be retained by Duke Realty Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.3

EXHIBIT 32.3

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Duke Realty Limited Partnership (the “Partnership”) on Form 10-K for the year ending December 31, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, James B. Connor, Chairman and Chief Executive Officer of Duke Realty Corporation, the general partner of the Partnership (the “General Partner”), certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

/s/ James B. Connor
James B. Connor
Chairman and Chief Executive Officer of the General Partner
Date:	February 18, 2022

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Duke Realty Limited Partnership, and will be retained by Duke Realty Limited Partnership and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.4

EXHIBIT 32.4

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Duke Realty Limited Partnership (the “Partnership”) on Form 10-K for the year ending December 31, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Mark A. Denien, Executive Vice President and Chief Financial Officer of Duke Realty Corporation, the general partner of the Partnership (the “General Partner”), certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

/s/ Mark A. Denien
Mark A. Denien
Executive Vice President and Chief Financial Officer of the General Partner
Date:	February 18, 2022

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Duke Realty Limited Partnership, and will be retained by Duke Realty Limited Partnership and furnished to the Securities and Exchange Commission or its staff upon request.

EX-99.1

Exhibit 99.1

THE FOLLOWING SUMMARY UPDATES AND SUPERCEDES (1) THE DISCLOSURE CONTAINED UNDER THE CAPTION “FEDERAL INCOME TAX CONSIDERATIONS” IN THE PROSPECTUS DATED JULY 25, 2019, WHICH IS PART OF THE REGISTRATION STATEMENT ON FORM S-3 (FILE NO. 333-232816), AS AMENDED OR SUPPLEMENTED, (2) THE DISCLOSURE CONTAINED UNDER THE CAPTION “FEDERAL INCOME TAX CONSIDERATIONS” IN THE PROSPECTUS DATED APRIL 30, 2021, WHICH IS A PART OF THE REGISTRATION STATEMENT ON FORM S-3 (FILE NO. 333-255633), AS AMENDED OR SUPPLEMENTED, AND (3) SIMILARLY TITLED SECTIONS IN THE PROSPECTUSES CONTAINED IN THE REGISTRATION STATEMENTS ON FORM S-3 (FILE NOS. 333-128132, 333-108556, 333-70678, 333-59138, 333-51344, 333-39498, 333-35008, 333-85009, 333-82063, 333-66919, 333-50081, 333-26833, 333-24289, AND 033-64659), AS AMENDED OR SUPPLEMENTED.THE AFOREMENTIONED PROSPECTUSES ARE COLLECTIVELY REFERRED TO HEREIN AS THE “PROSPECTUSES”.

MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS

The following discussion summarizes certain material U.S. federal income tax consequences relating to the taxation of us as a REIT and to the purchase, ownership and disposition of our common stock.

If we offer one or more series of preferred stock or the Operating Partnership offers one or more additional series of debt securities, a prospectus supplement with respect to such offerings will include information about additional material federal income tax consequences to holders of those shares of preferred stock or debt securities.

Because this summary is intended only to address certain material federal income tax consequences relating to the ownership and disposition of our common stock, it may not contain all the information that may be important to you. As you review this discussion, you should keep in mind that:

• The tax consequences to you may vary depending upon your particular tax situation;

• Special rules that we do not discuss below may apply if, for example, you are a tax-exempt organization (except to the extent discussed under “Treatment of Tax-Exempt Shareholders”), a broker-dealer, a non-U.S. person (except to the extent discussed under “Special Tax Considerations for Non-U.S. Shareholders”), a trust, an estate, a regulated investment company, a financial institution, an insurance company, or otherwise subject to special tax treatment under the Internal Revenue Code of 1986, as amended (the “Code”);

• This summary generally does not address state, local or non-U.S. tax considerations;

• This summary deals only with shareholders that hold our stock as “capital assets” within the meaning of Section 1221 of the Code; and

• We do not intend this discussion to be, and you should not construe it as, tax advice.

You should review the following discussion and consult with your own tax advisor to determine the effect of the ownership and disposition of our stock on your individual tax situation, including any state, local or non-U.S. tax consequences.

We base the information in this section on the current Code, current final, temporary and proposed Treasury Regulations, the legislative history of the Code, current administrative interpretations and practices of the Internal Revenue Service (the “IRS”), including its practices and policies as endorsed in private letter rulings, which are not binding on the IRS, and existing court decisions. Future legislation, regulations, administrative interpretations and court decisions could change current law or adversely affect existing interpretations of current law. Any change could apply retroactively. It is possible that the IRS could challenge the statements in this discussion, which do not bind the IRS or the courts, and that a court could agree with the IRS.

Tax legislation commonly referred to as the Tax Cuts and Jobs Act was signed into law on December 22, 2017. The Tax Cuts and Jobs Act made significant changes to the U.S. federal income tax rules for taxation of individuals and corporations, generally effective for taxable years beginning after December 31, 2017. Most of the changes applicable to individuals are temporary and apply only to taxable years beginning before January 1, 2026. Further changes to the tax laws are possible. Prospective shareholders are urged to consult with their tax advisors with respect to regulatory or administrative developments and proposals and their potential effect on investment in our common stock.

We urge you, as a prospective shareholder, to consult your tax advisor regarding the specific tax consequences to you of a purchase of our common stock, the ownership and sale of our common stock and of our election to be taxed as a REIT, including the federal, state, local, non-U.S. and other tax consequences of such purchase, ownership, sale and election, and potential changes in applicable tax laws.

Taxation of Our Company as a REIT

We believe that, commencing with our taxable year ended December 31, 1986, we have been organized and have operated in such a manner as to qualify for taxation as a REIT under the Code, and we intend to continue to be organized and to operate in such a manner. However, we cannot assure you that we have operated or will continue to operate in a manner that will permit us to qualify or remain qualified as a REIT. This section discusses the laws governing the federal income tax treatment of a REIT and the holders of its common stock. These laws are highly technical and complex.

Alston & Bird LLP has acted as our tax counsel in connection with the filing of each of the Prospectuses. Alston & Bird LLP has rendered an opinion to us in connection with the filing of each of the Prospectuses to the effect that, commencing with our taxable year ended December 31, 1999, we have been organized and have operated in conformity with the requirements for qualification and taxation as a REIT under the Code, and our actual and proposed method of operation will enable us to continue to meet the requirements for qualification and taxation as a REIT under the Code. It must be emphasized that each such opinion is based on various assumptions and representations as to factual matters, including representations made by us in a factual certificate provided by one of our officers. In addition, each such opinion is based upon our factual representations set forth herein and in each of the Prospectuses, as applicable, and does not foreclose the possibility that we may have to pay a deficiency dividend, or an excise or penalty tax, which could be significant in amount, in order to maintain our REIT qualification. Moreover, our qualification and taxation as a REIT depend upon our ability to meet the various qualification tests imposed under the Code, which are discussed below, including through actual operating results, asset composition, distribution levels and diversity of stock ownership, the results of which have not been and will not be reviewed by Alston & Bird LLP. Accordingly, no assurance can be given that our actual results of operation for any particular taxable year have satisfied or will satisfy those requirements. Further, the anticipated U.S. federal income tax treatment described herein may be changed, perhaps retroactively, by legislative, administrative or judicial action at any time. Alston & Bird LLP has no obligation to update its opinion subsequent to the date of such opinion.

Federal Income Taxation of Our Company

If we have qualified and continue to qualify for taxation as a REIT, we generally will not be subject to federal corporate income tax on that portion of our ordinary income or capital gain that is timely distributed to shareholders. The REIT provisions of the Code generally allow a REIT to deduct dividends paid to its shareholders, substantially eliminating the federal “double taxation” on earnings (once at the corporate level when earned and once again at the shareholder level when distributed) that usually results from investments in a corporation. Nevertheless, we will be subject to federal income tax as follows:

• We will be taxed at regular corporate rates on our undistributed “REIT taxable income,” including undistributed net capital gains.

• If we have net income from the sale or other disposition of “foreclosure property” that we hold primarily for sale to customers in the ordinary course of business or other non-qualifying income from foreclosure property, we will be subject to tax at the highest corporate income tax rate on such income.

• If we have net income from “prohibited transactions” (which are, in general, certain sales or other dispositions of property, other than foreclosure property, held primarily for sale to customers in the ordinary course of business), unless we qualify for a safe harbor exception, such income will be subject to a 100% tax.

• If we should fail to satisfy either the 75% gross income test or the 95% gross income test (discussed below) but have nonetheless maintained our qualification as a REIT because we have met other requirements, we will be subject to a 100% tax on the greater of the amount by which the 75% gross income test was not satisfied or the amount by which the 95% gross income test was not satisfied, in each case, multiplied by a fraction intended to reflect our profitability.

• If (i) we fail to satisfy the asset tests (other than a de minimis failure of the 5% asset test or the 10% vote or value test, as described below under “-Asset Tests”) due to reasonable cause and not to willful neglect, (ii) we dispose of the assets or otherwise comply with such asset tests within six months after the last day of the quarter in which we identify such failure and (iii) we file a schedule with the IRS describing the assets that caused such failure, we will pay a tax equal to the greater of $50,000 or the net income from the nonqualifying assets during the period in which we failed to satisfy such asset tests multiplied by the highest corporate income tax rate.

• If we fail to satisfy any of the REIT qualification requirements other than the gross income and asset tests and such failure is due to reasonable cause, we may avoid disqualification as a REIT by, among other things, paying a penalty of $50,000 or more in certain cases.

• If we fail to distribute during each year at least the sum of (i) 85% of our ordinary income for such year, (ii) 95% of our capital gain net income for such year, and (iii) any undistributed taxable income from prior periods, we will be subject to a 4% excise tax on the excess of this required distribution amount over the amounts actually distributed.

• If we should acquire any asset from a “C” corporation (i.e., a corporation generally subject to full corporate-level tax) in a carryover-basis transaction, no election is made for the transaction to be currently taxable, and we subsequently recognize gain on the disposition of such asset during the five-year period beginning on the date on which we acquired the asset, we generally will be subject to tax at the highest regular corporate income tax rate on the lesser of the amount of gain that we recognize at the time of the disposition and the amount of gain that we would have recognized if we had sold the asset at the time we acquired the asset (the “Built-in Gains Tax ”).

• We may be required to pay monetary penalties to the IRS in certain circumstances, including if we fail to meet recordkeeping requirements intended to monitor our compliance with rules relating to the composition of a REIT’s shareholders.

• If we elect to retain and pay income tax on our net long-term capital gain, a U.S. holder would include its proportionate share of our undistributed long-term capital gain (to the extent we make a timely designation of such gain to the shareholder) in its income and would receive a credit or a refund for its proportionate share of the tax we paid.

• We will be required to pay a 100% tax on any “redetermined rents,” “redetermined deductions,” “excess interest” or “redetermined TRS service income” resulting from non-arm’s length transactions involving our taxable REIT subsidiaries.

In addition, notwithstanding our status as a REIT, we may also have to pay certain state and local income taxes, because not all states and localities treat REITs in the same manner that they are treated for U.S. federal income tax purposes. Moreover, as further described below, any domestic taxable REIT subsidiary in which we own an interest will be subject to U.S. federal corporate income tax on its net income.

Requirements for Qualification

To qualify as a REIT, we must elect to be treated as a REIT and must meet the requirements, discussed below, relating to our organization, sources of income, nature of assets and distributions.

The Code defines a REIT as a corporation, trust or association:

• That is managed by one or more trustees or directors;

• The beneficial ownership of which is evidenced by transferable shares or by transferable certificates of beneficial interest;

• That would be taxable as a domestic corporation but for application of the REIT rules;

• That is neither a financial institution nor an insurance company subject to certain provisions of the Code;

• That has at least 100 persons as beneficial owners;

• During the last half of each taxable year, not more than 50% in value of the outstanding stock of which is owned, directly or indirectly, through the application of certain attribution rules, by five or fewer individuals (as defined in the Code to include certain entities);

• That files an election or continues such election to be taxed as a REIT on its return for each taxable year;

• That uses the calendar year as its taxable year; and

• That satisfies the gross income tests, the asset tests, and the distribution tests, described below.

The Code provides that REITs must satisfy all of the first four preceding requirements during the entire taxable year. REITs must satisfy the fifth requirement during at least 335 days of a taxable year of 12 months or during a proportionate part of a taxable year of less than 12 months. For purposes of the sixth requirement, the beneficiaries of a pension or profit-sharing trust described in Section 401(a) of the Code, and not the pension or profit-sharing trust itself, are treated as REIT shareholders. We will be treated as having met the sixth requirement if we comply with certain Treasury Regulations for ascertaining the ownership of our stock for such year and if we did not know (or after the exercise of reasonable diligence would not have known) that the sixth condition was not satisfied for such year. Our articles of incorporation currently include restrictions regarding transfer of our stock that assist us in continuing to satisfy the fifth and sixth of these requirements.

If a REIT owns a corporate subsidiary that is a “qualified REIT subsidiary,” the separate existence of that subsidiary will be disregarded for federal income tax purposes. Generally, a qualified REIT subsidiary is a corporation, other than a taxable REIT subsidiary, all the capital stock of which is owned by the REIT. Other wholly owned entities, including single member limited liability companies that have not elected to be taxed as corporations for U.S. federal income tax purposes, are also generally disregarded as separate entities for U.S. federal income tax purposes, including for purposes of the REIT gross income and asset tests. All assets, liabilities and items of income, deduction and credit of the qualified REIT subsidiary will be treated as assets, liabilities and items of income, deduction and credit of the REIT itself. Our qualified REIT subsidiaries will not be subject to federal corporate income taxation, although they may be subject to state and local taxation in some states. All assets, liabilities and items of income, deduction and credit of other disregarded subsidiaries will be treated as assets, liabilities and items of income, deduction and credit of their sole member and may be reattributed if that sole member is a partnership or another disregarded entity.

A REIT that is a partner in a partnership is deemed to own its proportionate share of the assets of the partnership and to earn its proportionate share of the partnership’s income, with its proportionate share in both cases based on its relative capital interest in the partnership. (For purposes of this discussion, references to a “partnership” include a limited liability company or other entity treated as a partnership for U.S. federal income tax purposes, and references to a “partner” include a member of such a limited liability company or other such entity.) However, solely for purposes of the 10% value test described below (see “-Asset Tests”), the determination of a REIT’s interest in a partnership’s assets will be based on the REIT’s proportionate interest in any securities issued by the partnership, excluding for these purposes, certain excluded securities as described in the Code. The character of the assets and gross income of the partnership retain the same character in the hands of the REIT for purposes of the gross income and asset tests. Thus, our proportionate share of the assets, liabilities and items of income of the Operating Partnership (including the Operating Partnership’s share of the assets, liabilities and items of income with respect to any partnership in which it holds an interest) is treated as our assets, liabilities and items of income for purposes of applying the requirements described herein.

We have control of the Operating Partnership and intend to operate it in a manner consistent with the requirements for our qualification as a REIT. If we become a limited partner in any partnership and such partnership takes or expects to take actions that could jeopardize our status as a REIT or require us to pay tax, we may be forced to dispose of our interest in such partnership. In addition, it is possible that a partnership could take an action which could cause us to fail a gross income or asset test, and that we would not become aware of such action in time to dispose of our interest in the partnership or take other corrective action on a timely basis. In such a case, we could fail to qualify as a REIT unless we were entitled to relief, as described below.

A REIT is not treated as holding the assets of a taxable REIT subsidiary or other taxable subsidiary corporation or as receiving any income that the subsidiary earns. Rather, the stock issued by the subsidiary is an asset in the hands of the REIT for purposes of the REIT asset tests, and the REIT recognizes as income the dividends, if any, that it receives from the subsidiary for purposes of the REIT gross income tests. Because we would not include the assets and income of a taxable REIT subsidiary in determining our compliance with the REIT gross income and asset tests, we may use taxable REIT subsidiaries to undertake indirectly activities that the REIT rules might otherwise preclude us from engaging in directly or through pass-through subsidiaries (e.g. activities that give rise to certain categories of income such as management fees).

We own direct or indirect interests in a number of taxable REIT subsidiaries, such as Duke Realty Construction, Inc. Our taxable REIT subsidiaries are entities that are classified as corporations for U.S. federal income tax purposes in which Duke Realty directly or indirectly owns stock and that elect, together with us, to be treated as our taxable REIT subsidiaries. In addition, if one of our taxable REIT subsidiaries owns, directly or indirectly, securities representing 35% or more of the vote or value of a subsidiary corporation, that subsidiary will also be treated as our taxable REIT subsidiary. A taxable REIT subsidiary is subject to federal income tax, and state and local income tax where applicable, as a regular “C” corporation.

Generally, a taxable REIT subsidiary may perform certain tenant services without causing us to receive impermissible tenant services income under the REIT gross income tests. However, several provisions regarding the arrangements between a REIT and its taxable REIT subsidiaries are intended to ensure that a taxable REIT subsidiary will be subject to an appropriate level of federal income taxation. We will be required to pay a 100% tax on any “redetermined rents,” “redetermined deductions,” “excess interest” or “redetermined TRS service income.” In general, redetermined rents are rents from real property that are overstated as a result of services furnished to any of our tenants by a taxable REIT subsidiary of ours. Redetermined deductions and excess interest generally represent amounts that are deducted by a taxable REIT subsidiary of ours for amounts paid to us that are in excess of any amounts that would have been paid based on arm’s length negotiations. Redetermined TRS service income generally represents income of a taxable REIT subsidiary that is attributable to services provided to us or on our behalf and is understated.

We own and may acquire direct or indirect interests in one or more entities that have elected or will elect to be taxed as REITs under the Code (each, a “Subsidiary REIT”). A Subsidiary REIT is subject to the various REIT qualification requirements and other limitations described herein that are applicable to us. If a Subsidiary REIT were to fail to qualify as a REIT, then (i) that Subsidiary REIT would become subject to U.S. federal income tax and (ii) the Subsidiary REIT’s failure to qualify could have an adverse effect on our ability to comply with the REIT income and asset tests, and thus could impair our ability to qualify as a REIT unless we could avail ourselves of certain relief provisions.

Gross Income Tests. To maintain qualification as a REIT, we must satisfy two gross income requirements. First, we must derive, directly or indirectly, at least 75% of our gross income for each taxable year from investments relating to real property or mortgages on real property, including “rents from real property,” gains on disposition of real estate, dividends paid by another REIT and interest on obligations secured by real property or on interests in real property, or from certain types of temporary investments. Second, we must derive at least 95% of our gross income for each taxable year from any combination of income qualifying under the 75% test and dividends, interest and gain from the sale or disposition of stock or securities. Gross income from prohibited transactions, income with respect to certain hedging transactions, and certain foreign currency gains are disregarded in applying the gross income tests.

As noted above, we are subject to a 100% penalty tax on income from prohibited transactions (generally, income derived from the sale of property primarily held for sale to customers in the ordinary course of business). The Code provides a safe harbor that, if met, allows us to avoid being treated as engaged in a prohibited transaction. To meet the safe harbor, among other things, (i) we must have held the property for at least 2 years (and, in the case of property which consists of land or improvements not acquired through foreclosure, we must have held the property for 2 years for the production of rental income) and (ii) during the taxable year the property is disposed of, we must not have made more than 7 property sales or, alternatively, the aggregate adjusted basis or fair market value of all of the properties sold by us during the taxable year must not exceed 10% of the aggregate adjusted basis or 10% of the fair market value, respectively, of all of our assets as of the beginning of the taxable year. However, if the 10% standard is satisfied on average over the three-year period comprised of the taxable year at issue and the two immediately preceding taxable years, the aggregate adjusted basis or fair market value of all of the properties sold by us during the taxable year may be up to 20% of the aggregate adjusted basis or 20% of the fair market value. In certain years, we have made sales that did not qualify for the safe harbor but that we believe were not sales of property held for sale in the ordinary course of business and were not prohibited transactions, and we may make sales in the future that do not satisfy the safe harbors. The IRS could challenge our analysis of the facts and circumstances and treatment of such sales and such challenge could be sustained in a court of law.

Any income from (i) a hedging transaction that is clearly and timely identified and that hedges indebtedness incurred or to be incurred to acquire or carry real estate assets, (ii) a clearly and timely identified transaction entered into primarily to manage the risk of currency fluctuations with respect to any item of income that would qualify under a 75% or the 95% gross income tests, or (iii) a transaction that hedges existing hedging positions after a portion of the hedged indebtedness or property is disposed of will be disregarded (rather than being treated either as qualifying income or non-qualifying income) for purposes of the 75% and the 95% gross income tests. Hedging income that does not meet these requirements will be treated as non-qualifying income for purposes of the 75% and 95% gross income tests.

Any income from foreign currency gain that is “real estate foreign exchange gain” as defined in the Code will be disregarded for purposes of the 75% gross income tests. “Real estate foreign exchange gain” includes foreign currency gains attributable to (i) any item of income or gain that would qualify under the 75% gross income test, (ii) the acquisition or ownership of obligations secured by mortgages on real property or interests in real property, (iii) becoming or being the obligor under obligations secured by mortgages on real property or on interests in real property, (iv) remittances from qualified business units that meet the 75% gross income test for the taxable year and the 75% asset test at the close of each quarter, and (v) any other foreign currency gain as determined by the IRS. “Passive foreign exchange gain” as defined in the Code, will be disregarded for purposes of the 95% gross income test (but will be treated as non-qualifying income for purposes of the 75% gross income test unless also qualifying as real estate foreign exchange gain). “Passive foreign exchange gain” includes foreign currency gains attributable to (i) real estate foreign exchange gain, (ii) any item of income or gain that would qualify under the 95% gross income test, (iii) the acquisition or ownership of obligations, (iv) becoming or being the obligor under the obligations, (v) distributions of previously taxed earnings and profits from certain foreign corporations, and (vi) any other foreign currency gain as determined by the IRS.

Rents that we receive will qualify as “rents from real property” in satisfying the gross income requirements for a REIT described above only if several conditions are met. First, the amount of rent must not be based in whole or in part on the income or profits of any person but can be based on a fixed percentage of gross receipts or gross sales. Second, “rents from real property” generally excludes any amount received directly or indirectly from any tenant if we, or an owner of 10% of more of our outstanding stock, directly or constructively, own 10% or more of such tenant taking into consideration the applicable attribution rules, which we refer to as a “related party tenant.” Third, if rent is partly attributable to personal property leased in connection with a lease of real property, the portion of the total rent that is attributable to the personal property will not qualify as rents from real property if it exceeds 15% of the total rent received under the lease. Finally, amounts that are attributable to services furnished or rendered in connection with the rental of real property, whether or not separately stated, will not constitute “rents from real property” unless such services are customarily provided in the geographic area. Customary services that are not considered to be provided to a particular tenant (e.g., furnishing heat and light, the cleaning of public entrances, and the collection of trash) can be provided directly by us. Where, on the other hand, such services are provided primarily for the convenience of the tenants or are provided to such tenants, such services must be provided by an independent contractor from whom we do not receive any income or a taxable REIT subsidiary. Non-customary services that are not performed by an independent contractor or taxable REIT subsidiary in accordance with the applicable requirements will result in impermissible tenant service income to us to the extent of the income earned (or deemed earned) with respect to such services. If the impermissible tenant service income exceeds 1% of our total income from a property, all of the income from that property will fail to qualify as rents from real property. If the total amount of impermissible tenant services does not exceed 1% of our total income from the property, the services will not cause the rent paid by tenants of the property to fail to qualify as rents from real property, but the impermissible tenant services income will not qualify as “rents from real property.”

We do not currently charge and do not anticipate charging rent that is based in whole or in part on the income or profits of any person. We also do not anticipate either deriving rent attributable to personal property leased in connection with real property that exceeds 15% of the total rents or receiving rent from related party tenants.

The Operating Partnership does provide some services with respect to the properties. We believe that the services with respect to the properties that are and will be provided directly and not through an independent contractor or taxable REIT subsidiary are usually or customarily rendered in connection with the rental of space for occupancy only and are not otherwise considered rendered to particular tenants and, therefore, that the provision of such services will not cause rents received with respect to the properties to fail to qualify as rents from real property. Services with respect to the properties that we believe may not be provided by us or the Operating Partnership directly without jeopardizing the qualification of rent as “rents from real property” are and will be performed by independent contractors from whom we derive no income or taxable REIT subsidiaries.

We, through the Operating Partnership, receive fees for property management and brokerage and leasing services provided with respect to some properties not owned entirely by the Operating Partnership. These fees, to the extent paid with respect to the portion of these properties not owned, directly or indirectly, by us, will not qualify under the 75% gross income test or the 95% gross income test. The Operating Partnership also may receive other types of income with respect to the properties it owns that will not qualify for either of these tests. We believe, however, that the aggregate amount of these fees and other non-qualifying income in any taxable year will not cause us to exceed the limits on non-qualifying income under either the 75% gross income test or the 95% gross income test.

If we fail to satisfy the 75% gross income test or the 95% gross income test for any taxable year, we may nevertheless qualify as a REIT for that year if we are eligible for relief under the Code. This relief provision generally will be available if (i) our failure to meet these tests was due to reasonable cause and not due to willful neglect, and (ii) we file a disclosure schedule with the IRS after we determine that we have not satisfied one of the gross income tests. We cannot state whether in all circumstances we would be entitled to the benefit of this relief provision. For example, if we fail to satisfy the gross income tests because non-qualifying income that we intentionally incur exceeds the limits on such income, the IRS could conclude that our failure to satisfy the tests was not due to reasonable cause. Even if this relief provision applies, the Code imposes a 100% tax with respect to a portion of the non-qualifying income, as described above.

Asset Tests. At the close of each quarter of our taxable year, we also must satisfy multiple tests relating to the nature and diversification of our assets:

• At least 75% of the value of our total assets must be represented by real estate assets, cash and cash items (including receivables arising in the ordinary course of our business) and government securities. The term “real estate assets” includes real property, personal property that generates rents from real property, certain kinds of mortgage-backed securities and mortgage loans, stock of other REITs, and debt instruments issued by publicly offered REITs.

• No more than 25% of the value of our total assets may be represented by securities other than those in the 75% asset class.

Except for equity investments in REITs or taxable REIT subsidiaries or other securities that qualify as “real estate assets” for purposes of the 75% asset test:

• The value of any one issuer’s securities that we own may not exceed 5% of the value of our total assets;

• We may not own more than 10% of any one issuer’s outstanding voting securities; and

• We may not own more than 10% of the value of the outstanding securities of any one issuer.

• No more than 20% (for any taxable year beginning after December 31, 2017) of our total assets may be represented by securities of one or more taxable REIT subsidiaries.

• Not more than 25% of the value of our assets may consist of nonqualified publicly offered REIT debt instruments.

Certain types of securities are disregarded as securities for purposes of the 10% value limitation discussed above.These include: (i) straight debt securities (including straight debt that provides for certain contingent payments); (ii) any loan to an individual or an estate; (iii) any rental agreement described in Section 467 of the Code, other than with a “related person”; (iv) any obligation to pay rents from real property; (v) certain securities issued by a State or any political subdivision thereof, the District of Columbia, a foreign government, or any political subdivision thereof, or the Commonwealth of Puerto Rico; (vi) any security issued by a REIT; and (vii) any other arrangement that, as determined by the Secretary of the Treasury, is excepted from the definition of a security. In addition, (a) a REIT’s interest as a partner in a partnership is not considered a “security” for purposes of applying the 10% value test to securities issued by the partnership; (b) any debt instrument issued by a partnership (other than straight debt or other excluded security) will not be considered a security issued by the partnership if at least 75% of the partnership’s gross income is derived from sources that would qualify for the 75% gross income test, and (c) any debt instrument issued by a partnership (other than straight debt or other excluded security) will not be considered a security issued by the partnership to the extent of the REIT’s interest as a partner in the partnership. Special look-through rules apply to determine a REIT’s share of securities held by a partnership in which the REIT holds an interest.

We believe that the aggregate value of our securities issued by our taxable REIT subsidiaries does not exceed 20% of the aggregate value of our gross assets. With respect to each issuer in which we currently own an interest that does not qualify as a REIT or a taxable REIT subsidiary, we believe that the value of the securities, including debt, of any such issuer owned (or treated as owned) by us does not exceed 5% of the total value of our assets and that we comply with the 10% voting securities limitation and 10% value limitation with respect to each such issuer. We do not appraise the securities we hold, and the IRS could disagree with our determinations.

After initially meeting the asset tests at the close of any quarter, we will not lose our qualification as a REIT for failure to satisfy the asset tests at the end of a later quarter solely by reason of changes in asset values. If the

failure to satisfy the asset tests results from an acquisition of securities or other property during a quarter, we can cure the failure by disposing of a sufficient amount of non-qualifying assets within 30 days after the close of that quarter. We intend to maintain adequate records of the value of our assets to ensure compliance with the asset tests and to take such other actions within 30 days after the close of any quarter as necessary to cure any noncompliance.

After the 30-day cure period, a REIT may avoid disqualification as a REIT by disposing of sufficient assets to cure such a violation that does not exceed the lesser of 1% of the REIT’s assets at the end of the relevant quarter or $10,000,000, provided that the disposition occurs within six months following the last day of the quarter in which the REIT first identified the assets. For violations of any of the REIT asset tests due to reasonable cause that are larger than this amount, a REIT may avoid disqualification as a REIT after the 30-day cure period, if such failure was due to reasonable cause and not due to willful neglect, by taking certain steps, including the disposition of sufficient assets within the six-month period described above to meet the applicable asset test, paying a tax equal to the greater of $50,000 or the highest corporate income tax rate multiplied by the net income generated by the non-qualifying assets during the period of time that the assets were held as non-qualifying assets, and filing a schedule with the IRS that describes the non-qualifying assets.

Annual Distribution Requirement

To qualify for taxation as a REIT, the Code requires that we make distributions (other than capital gain distributions) to our shareholders in an amount at least equal to (a) the sum of: (1) 90% of our “REIT taxable income” (computed without regard to the dividends paid deduction and our net capital gain), and (2) 90% of our net income, if any, from foreclosure property in excess of the special tax on income from foreclosure property, minus (b) the sum of certain items of non-cash income.

We generally must pay distributions in the taxable year to which they relate. Dividends paid in the subsequent year, however, will be treated as if paid in the prior year for purposes of the prior year’s distribution requirement if the dividends satisfy one of the following two sets of criteria. First, if we declare a dividend in October, November or December of any year with a record date in one of these months and pay the dividend in January of the following year, we will be treated as having paid, and our shareholders will be treated as having received, the dividend on December 31 of the year in which the dividend was declared. Second, distributions may be made in the following year if the dividends are declared before we timely file our tax return for the year and are made before the first regular dividend payment made after such declaration. These distributions are taxable to our shareholders in the year in which paid, even though the distributions relate to our prior taxable year for purposes of the 90% distribution requirement.

Even if we satisfy the foregoing distribution requirement, we will be subject to regular corporate income tax thereon to the extent that we do not distribute all of our net capital gain or “REIT taxable income” as adjusted. Furthermore, if we fail to distribute at least the sum of 85% of our ordinary income for that year; 95% of our capital gain net income for that year; and any undistributed taxable income from prior periods, we would be subject to a 4% excise tax on the excess of the required distribution over the amounts actually distributed.

In addition, if, during the five-year recognition period, we dispose of any asset subject to the Built-in Gains Tax Rules described above, we must, pursuant to guidance issued by the IRS, distribute at least 90% of the built-in gain (after tax), if any, recognized on the disposition of the asset.

We may elect to retain rather than distribute all or a portion of our net capital gains and pay the tax on the gains. In that case, we may elect to have our shareholders include their proportionate share of the undistributed net capital gains in income as long-term capital gains and receive a credit for their share of the tax we paid. For purposes of the 4% excise tax described, any such retained amounts would be treated as having been distributed.

We intend to make timely distributions sufficient to satisfy the annual distribution requirement and, generally, avoid income and excise taxes. In this regard, the partnership agreement of the Operating Partnership authorizes us, as general partner, to take such steps as may be necessary to cause the Operating Partnership to distribute to its partners an amount sufficient to permit us to meet the distribution requirement and to avoid income and excise tax.

We expect that our REIT taxable income will be less than our cash flow due to the allowance of depreciation and other non-cash charges in computing REIT taxable income. Accordingly, we anticipate that we generally will have sufficient cash or liquid assets to enable us to satisfy the 90% distribution requirement. It is possible, however, that we, from time to time, may not have sufficient cash or other liquid assets to satisfy the 90% distribution requirement or to distribute such greater amount as may be necessary to avoid income and excise

taxation. In this event, we may find it necessary to arrange for borrowings or, if possible, pay taxable stock dividends in order to satisfy the distribution requirement or avoid such income or excise taxation. Under IRS Revenue Procedure 2017-45, as a publicly offered REIT, we may give shareholders a choice, subject to various limits and requirements, of receiving a dividend in cash or in our common stock. As long as at least 20% (modified pursuant to Rev. Proc. 2021-53 to 10% for distributions declared on or after November 1, 2021 and on or before June 30, 2022) of the total dividend is available in cash and certain other requirements are satisfied, the IRS will treat the stock distribution as a dividend to the extent applicable rules treat such distribution as being made out of our earnings and profits.

The Tax Cuts and Jobs Act contained provisions that could impact the way that REITs calculated their REIT taxable income and their subsidiaries calculated their taxable income in taxable years beginning after December 31, 2017. Under the Tax Cuts and Jobs Act, we are required to accrue certain items of income before they would otherwise be taken into income under the Code if they are taken into account in our applicable financial statements. Additionally, the Tax Cuts and Jobs Act limited business interest deductions for businesses, whether in corporate or pass-through form, to, generally, the sum of the entity’s business interest income for the tax year and 30% of the entity’s “adjusted taxable income” (as defined for purposes of that provision) for the tax year. Treasury Regulations define interest expansively to cover various amounts not otherwise treated as interest. This limitation on business interest deductions could apply to any entity that is not disregarded for U.S. federal income tax purposes, including the Operating Partnership, underlying partnerships and our taxable REIT subsidiaries. This limitation does not apply to an “electing real property trade or business.” One consequence of electing to be an “electing real property trade or business” is that accelerated expensing rules under the Tax Cuts and Jobs Act do not apply to certain property used in an electing real property trade or business. In addition, in the case of an electing real property trade or business, real property and “qualified improvement property” are depreciated under the alternative depreciation system over longer useful lives. We do not expect this rule to limit our deduction of our interest expense. In addition, under amendments made by the Tax Cuts and Jobs Act, the deduction for any net operating loss carryforwards arising from losses incurred in taxable years beginning after December 31, 2017 was limited to 80% of annual taxable income, and any unused portion of such losses was prohibited from being carried back but permitted to be carried forward indefinitely.

In the event that we are subject to an adjustment (as defined in Section 860(d)(2) of the Code) to our REIT taxable income resulting from an adverse determination by either a final court decision, a closing agreement between us and the IRS under Section 7121 of the Code, or an agreement as to tax liability between us and an IRS district director, or an amendment or supplement to our federal income tax return for the applicable tax year, we may be able to rectify any resulting failure to satisfy the 90% annual distribution requirement by paying “deficiency dividends” to shareholders that relate to the adjusted year but that are paid in a subsequent year. To qualify as a deficiency dividend, we must make the distribution within 90 days of the adverse determination and we also must satisfy other procedural requirements. If we satisfy the statutory requirements of Section 860 of the Code, a deduction is allowed for any deficiency dividend we subsequently paid to offset an increase in our REIT taxable income resulting from the adverse determination. We, however, must pay statutory interest on the amount of any deduction taken for deficiency dividends to compensate for the deferral of the tax liability.

Failure to Qualify

A violation of a REIT requirement other than the gross income tests or the asset tests will not cause us to lose our qualification as a REIT if the violation is due to reasonable cause and not due to willful neglect and we pay a penalty of $50,000 for each failure to satisfy the provision. If we fail to qualify for taxation as a REIT in any taxable year and the relief provisions do not apply, we will be subject to tax on our taxable income at regular corporate income tax rates. Distributions to shareholders in any year in which we fail to qualify as a REIT will not be deductible by us nor will they be required to be made. In that event, to the extent of our positive current and accumulated earnings and profits, distributions to shareholders will be dividends, generally taxable at long-term capital gain tax rates (as described below), subject to certain limitations of the Code, and corporate shareholders may be eligible for the dividends-received deduction. Unless we are entitled to relief under specific statutory provisions, we also will be disqualified from taxation as a REIT for the four taxable years following the year during which we lost our REIT qualification. We cannot state whether in all circumstances we would be entitled to such statutory relief. For example, if we fail to satisfy the gross income tests because non-qualifying income that we intentionally incur exceeds the limit on such income, the IRS could conclude that our failure to satisfy the tests was not due to reasonable cause.

Taxation of U.S. Shareholders

As used herein, the term “U.S. Shareholder” means a holder of our stock that, for federal income tax purposes:

• Is a citizen or resident of the United States;

• Is a corporation (including an entity treated as a corporation for federal income tax purposes) created or organized in or under the laws of the United States or of any political subdivision thereof;

• Is an estate, the income of which is subject to federal income taxation regardless of its source;

• Is any trust if a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more United States persons have the authority to control all substantial decisions of the trust; or

• Is an eligible trust that elects to be taxed as a U.S. person under applicable Treasury Regulations.

For U.S. federal income tax purposes, income earned through an entity that is classified as a partnership for U.S. federal income tax purposes, regardless of where it was organized, is generally attributed to its partners. Accordingly, the U.S. federal income tax treatment of a partner in a partnership that holds our stock will generally depend on the status of the partner and the activities of the partnership. Prospective shareholders that are partnerships should consult their tax advisers concerning the U.S. federal income tax consequences to their partners of the acquisition, ownership and disposition of our stock.

For any taxable year for which we qualify for taxation as a REIT, taxable U.S. Shareholders will be taxed as discussed below.

Distributions Generally. The federal income tax treatment of our distributions depends upon (i) the extent to which they are paid from our current or accumulated earnings and profits and, accordingly, treated as dividends and (ii) whether any portion of such distributions is designated as qualified dividend income or capital gain dividends, both of which are taxable at capital gains rates that do not exceed 20% for non-corporate U.S. Shareholders. Distributions from REITs that are treated as dividends but are not designated as either qualified dividend income or capital gain dividends (“qualified REIT dividends”) are treated as ordinary income.For taxable years beginning before January 1, 2026, non-corporate taxpayers are entitled to a deduction of up to 20% of their qualified REIT dividends. The amount of the deduction may be up to 20% of the amount of the non-corporate U.S. Shareholder’s aggregate qualified dividend income but may be less than 20% of the amount of qualified REIT dividends if the U.S. shareholder has losses from publicly traded partnerships or the U.S. Shareholder’s taxable income, not taking into account net capital gain, is less than the amount of the U.S. Shareholder’s qualified REIT dividends. In addition, Treasury Regulations under section 199A of the Code impose a minimum holding period for the 20% deduction that was not set forth in the Code. Under the Treasury Regulations, in order for a REIT dividend with respect to a share of REIT stock to be treated as a qualified REIT dividend, the U.S. Shareholder (i) must have held the share for more than 45 days during the 91-day period beginning on the date which is 45 days before the date on which such share becomes ex-dividend with respect to such dividend and (ii) cannot have been under an obligation to make related payments with respect to positions in substantially similar or related property, e.g., pursuant to a short sale.

Dividends received from REITs are generally not eligible to be taxed at the lower capital gain rates applicable to individuals for “qualified dividends” from C corporations (i.e., corporations generally subject to U.S. federal corporate income tax). However, dividends received from a REIT may be treated as “qualified dividend income” eligible for the reduced tax rates to the extent that the REIT itself has received qualified dividend income from other corporations (such as taxable REIT subsidiaries). In addition, dividends received from a REIT in a taxable year may be treated as qualified dividend income in an amount equal to the sum of (i) the excess of the REIT’s “REIT taxable income” for the preceding taxable year over the corporate-level federal income tax payable by the REIT for such preceding taxable year and (ii) the excess of the REIT’s income that was subject to the Built-in Gains Tax in the preceding taxable year over the tax payable by the REIT on such income for such preceding taxable year.

Dividends we pay are not eligible for the dividends-received deduction for corporations. To the extent that we make a distribution in excess of our positive current and accumulated earnings and profits, the distribution will be treated first as a tax-free return of capital, reducing the tax basis in the U.S. Shareholder’s stock, and then any distribution in excess of such basis will be taxable to the U.S. Shareholder as gain realized from the sale of its stock.

Dividends we declare in October, November or December of any year payable to a U.S. Shareholder of record on a specified date in any such month will be treated as both paid by us and received by our shareholders on

December 31 of that year, provided that we actually pay the dividends during January of the following calendar year.

We will be treated as having sufficient earnings and profits to treat as a dividend any distribution by us up to the amount required to be distributed to avoid imposition of the 4% excise tax discussed above. Moreover, any “deficiency dividend” will be treated as an ordinary or capital gain distribution, as the case may be, regardless of our earnings and profits. As a result, shareholders may be required to treat as taxable some distributions that would otherwise result in a tax-free return of capital.

Capital Gain Dividends. Distributions to U.S. Shareholders that we properly designate as capital gain dividends will be treated as long-term capital gains (to the extent they do not exceed our actual net capital gain) for the taxable year without regard to the period for which the U.S. Shareholder has held his or her stock. However, corporate shareholders may be required to treat up to 20% of certain capital gain dividends as ordinary income. Capital gain dividends are not eligible for the dividends-received deduction for corporations.

We may elect to retain and pay income tax on net long-term capital gain that we received during the tax year. In this instance, U.S. Shareholders will include in their income their proportionate share of the undistributed long-term capital gains that we designated. The U.S. Shareholders will also be deemed to have paid their proportionate share of the tax, which would be credited against such shareholders’ U.S. income tax liability (and refunded to the extent it exceeds such liability). In addition, the basis of the U.S. Shareholders’ shares will be increased by the excess of the amount of capital gain included in its income over the amount of tax it is deemed to have paid.

Any long-term capital gain generally will be taxed to a non-corporate taxpayer at a maximum rate of 20%. In the case of capital gain attributable to the sale of real property held for more than one year, such gain will be taxed at a maximum rate of 25% to the extent of the amount of depreciation deductions previously claimed with respect to such property. With respect to distributions we designate as capital gain dividends (including any deemed distributions of retained capital gains), subject to certain limits, we may designate, and will notify our shareholders, whether the dividend is taxable to non-corporate shareholders at regular long-term capital gains rates (currently at a maximum rate of 20%) or at the 25% rate applicable to unrecaptured depreciation.

Passive Activity Losses, Excess Business Losses and Investment Interest Limitations. Dividends we distribute and gain from the disposition of our stock will not be treated as passive activity income, and, therefore, U.S. Shareholders will not be able to apply any “passive losses” against such income. Similarly, for taxable years beginning after December 31, 2020 but before January 1, 2027, non-corporate U.S. shareholders cannot apply “excess business losses” against dividends that we distribute and gains arising from the disposition of our common stock. Dividends generally will be treated as investment income for purposes of the investment interest limitation. Net capital gain from the disposition of our stock or capital gain dividends generally will be excluded from investment income unless the U.S. Shareholder elects to have the gain taxed at ordinary income rates. Shareholders are not allowed to include on their own federal income tax returns any tax losses that we incur.

Dispositions of Shares. In general, U.S. Shareholders will realize capital gain or loss on the disposition of our stock equal to the difference between the amount of cash and the fair market value of any property received on the disposition and that shareholder’s adjusted basis in the stock. This gain or loss will be a capital gain or loss if the U.S. Shareholder has held the shares as a capital asset. The applicable tax rate will depend on the shareholder’s holding period in the asset (generally, if the shareholder has held the asset for more than one year, it will produce long-term capital gain) and the shareholder’s tax bracket (the maximum rate for non-corporate taxpayers currently being 20%). The IRS has the authority to prescribe, but has not yet prescribed, regulations that would apply a capital gain tax rate of 25% (which is generally higher than the long-term capital gain tax rates for non-corporate shareholders) to a portion of capital gain realized by a non-corporate shareholder on the sale of our stock that would correspond to our “unrecaptured Section 1250 gain.” Shareholders should consult with their own tax advisors with respect to their capital gain tax liability. In general, any loss recognized by a U.S. Shareholder upon the sale or other disposition of stock that the shareholder has held for six months or less, after applying the holding period rules, will be treated as a long-term capital loss, to the extent of distributions received by the U.S. Shareholder from us that were required to be treated as long-term capital gains.

Unearned Income Medicare Tax. High-income U.S. individuals, estates, and trusts are subject to an additional 3.8% tax on net investment income. For these purposes, net investment income includes dividends and gains from sales of stock. In the case of an individual, the tax will be 3.8% of the lesser of the individuals’ net investment income or the excess of the individuals’ modified adjusted gross income over $250,000 in the case of a married individual filing a joint return or a surviving spouse, $125,000 in the case of a married individual filing a separate return, or $200,000 in the case of a single individual. The 20% deduction for “qualified REIT dividends”

described above is not taken into account in computing net investment income. U.S. Shareholders that are individuals, estates or trusts should consult their tax advisors regarding the effect, if any, of this legislation on their ownership and disposition of our common stock.

Treatment of Tax-Exempt Shareholders. Distributions from us to a tax-exempt employee pension trust or other domestic tax-exempt shareholder generally will not constitute “unrelated business taxable income,” which we refer to as “UBTI,” unless the shareholder has borrowed to acquire or carry its stock or has used the shares in a trade or business.

However, for tax-exempt shareholders that are social clubs, voluntary employee benefit associations, supplemental unemployment benefit trusts and qualified group legal services plans exempt from federal income taxation under Sections 501(c)(7), (c)(9), (c)(17) and (c)(20) of the Code, respectively, income from an investment in us will constitute UBTI unless the organization properly sets aside or reserves such amounts for purposes specified in the Code. These tax-exempt shareholders should consult their own tax advisors concerning these “set aside” and reserve requirements.

Qualified trusts that hold more than 10% (by value) of the shares of a “pension-held REIT” may be required to treat a certain percentage of such a REIT’s distributions as UBTI. A REIT is a “pension-held REIT” only if the REIT would not qualify as such for federal income tax purposes but for the application of a “look-through” exception to the five or fewer requirement applicable to shares held by qualified trusts and the REIT is “predominantly held” by qualified trusts. A REIT is predominantly held if either at least one qualified trust holds more than 25% by value of the REIT interests or qualified trusts, each owning more than 10% by value of the REIT interests, holds in the aggregate more than 50% of the REIT interests. The percentage of any REIT dividend treated as UBTI is equal to the ratio of (a) the UBTI earned by the REIT (treating the REIT as if it were a qualified trust and therefore subject to tax on UBTI) to (b) the total gross income (less certain associated expenses) of the REIT. In the event that this ratio is less than 5% for any year, then the qualified trust will not be treated as having received UBTI as a result of the REIT dividend. For these purposes, a qualified trust is any trust described in Section 401(a) of the Code and exempt from tax under Section 501(a) of the Code.

Special Tax Considerations For Non-U.S. Shareholders

In general, non-U.S. Shareholders will be subject to regular federal income tax with respect to their investment in us if the income from the investment is “effectively connected” with the non-U.S. Shareholder’s conduct of a trade or business in the United States. A corporate non-U.S. Shareholder that receives income that is (or is treated as) effectively connected with a U.S. trade or business also may be subject to the branch profits tax under Section 884 of the Code, which is imposed in addition to regular federal income tax at the rate of 30%, subject to reduction under a tax treaty, if applicable. Effectively connected income that meets various certification requirements will generally be exempt from withholding. The following discussion will apply to non-U.S. Shareholders whose income from their investments in us is not so effectively connected (except to the extent that the FIRPTA rules discussed below treat such income as effectively connected income).

Distributions

Distributions by us that are not attributable to gain from the sale or exchange by us of a “United States real property interest” and that we do not designate as a capital gain distribution will be treated as an ordinary income dividend to the extent that we pay the distribution out of our current or accumulated earnings and profits. Generally, any ordinary income dividend will be subject to a federal income tax, required to be withheld by us, equal to 30% of the gross amount of the dividend, unless an applicable tax treaty reduces this tax. Such a distribution in excess of our earnings and profits will be treated first as a return of capital that will reduce a non-U.S. Shareholder’s basis in its stock (but not below zero) and then as gain from the disposition of such stock, the tax treatment of which is described under the rules discussed below with respect to dispositions of stock.

Distributions by us with respect to our common stock that are attributable to gain from the sale or exchange of a United States real property interest will be treated as ordinary dividends (taxed as described above) to a non-U.S. Shareholder as long as our common stock is “regularly traded” on an established securities market and the non-U.S. Shareholder did not own more than 10% of such class of stock at any time during the one-year period preceding the distribution. Capital gain dividends distributed to a non-U.S. Shareholder that held more than 10% of our common stock in the year preceding the distribution will be taxed under the Foreign Investment in Real Property Tax Act of 1980, or “FIRPTA.” Such distributions are taxed to a non-U.S. Shareholder as if the distributions were gains “effectively connected” with a U.S. trade or business. Accordingly, a non-U.S. Shareholder will be required to report such gains on U.S. federal income tax returns and will be taxed at the normal capital gain rates applicable to a

U.S. Shareholder (subject to any applicable alternative minimum tax and a special alternative minimum tax in the case of nonresident alien individuals). Such distributions also may be subject to a 30% branch profits tax when made to a foreign corporation that is not entitled to an exemption or reduced branch profits tax rate under a tax treaty.

Although the law is not clear on this matter, it appears that amounts designated by us as undistributed capital gains in respect of our stock generally should be treated with respect to non-U.S. Shareholders in the same manner as actual distributions by us of capital gain dividends.

Although tax treaties may reduce our withholding obligations, we generally will be required to withhold from distributions to non-U.S. Shareholders, and remit to the IRS, 30% of ordinary dividends paid out of earnings and profits. Special withholding rules apply to capital gain dividends that are not recharacterized as ordinary dividends. In addition, we may be required to withhold 15% of distributions in excess of our current and accumulated earnings and profits. If the amount of tax withheld by us with respect to a distribution to a non-U.S. Shareholder exceeds the shareholder’s U.S. federal income tax liability, the non-U.S. Shareholder may file for a refund of such excess from the IRS.

We expect to withhold federal income tax at the rate of 30% on all distributions (including distributions that later may be determined to have been in excess of current and accumulated earnings and profits) made to a non-U.S. Shareholder unless:

• A lower treaty rate applies and the non-U.S. Shareholder files with us an appropriate IRS Form W-8 evidencing eligibility for that reduced treaty rate;

• The non-U.S. Shareholder files with us an IRS Form W-8ECI claiming that the distribution is income effectively connected with the non-U.S. Shareholder’s trade or business so that no withholding tax is required; or

• The distributions are treated for FIRPTA withholding tax purposes as attributable to a sale of a U.S. real property interest, in which case tax will be withheld at the maximum corporate income tax rate.

Dispositions of Our Common Stock

Unless our stock constitutes a “United States real property interest” within the meaning of FIRPTA, a sale of our stock by a non-U.S. Shareholder generally will not be subject to federal income taxation. Our stock will not constitute a United States real property interest if we are a domestically controlled qualified investment entity.” A REIT is a domestically controlled qualified investment entity if at all times during a specified testing period less than 50% in value of its shares is held directly or indirectly by non-U.S. Shareholders. We currently anticipate that we will be a domestically controlled qualified investment entity and, therefore, that the sale of our stock will not be subject to taxation under FIRPTA. However, because our stock will be publicly traded, we cannot assure you that we will be a domestically controlled qualified investment entity. If we were not a domestically controlled qualified investment entity, a non-U.S. Shareholder’s sale of our stock would be subject to tax under FIRPTA as a sale of a United States real property interest unless the stock were “regularly traded” on an established securities market (such as the New York Stock Exchange) on which the stock will be listed and the selling shareholder owned no more than 10% of the common stock throughout the applicable testing period. If the gain on the sale of stock were subject to taxation under FIRPTA, the non-U.S. Shareholder would be subject to the same treatment as a U.S. Shareholder with respect to the gain (subject to applicable alternative minimum tax and a special alternative minimum tax in the case of nonresident alien individuals). However, even if our stock is not a United States real property interest, a nonresident alien individual’s gains from the sale of stock will be taxable if the nonresident alien individual is present in the United States for 183 days or more during the taxable year and certain other conditions apply, in which case the nonresident alien individual will be subject to a 30% tax on his or her U.S.-source capital gains.

A purchaser of our stock from a non-U.S. Shareholder will not be required to withhold under FIRPTA on the purchase price if the purchased stock is “regularly traded” on an established securities market. Otherwise, the purchaser of our stock from a non-U.S. Shareholder may be required to withhold 15% of the purchase price and remit this amount to the IRS. Our common stock currently is traded on the New York Stock Exchange. We believe that we qualify under the regularly traded exception to withholding, but we cannot provide any assurance to that effect.

Qualified Shareholders

Generally, a “qualified shareholder” (as defined in the Code) who holds our common stock directly or indirectly (through one or more partnerships) will not be subject to FIRPTA on distributions by us or dispositions of our common stock. While a qualified shareholder will not be subject to FIRPTA on distributions by us or dispositions of our common stock, a distribution to a qualified shareholder that otherwise would have been taxable under FIRPTA will be treated as an ordinary dividend, and certain investors of a qualified shareholder (i.e., non-U.S. persons who hold interests in the qualified shareholder (other than interests solely as a creditor), and hold more than 10% of our common stock (whether or not by reason of the investor’s ownership in the qualified shareholder)) may be subject to FIRPTA and FIRPTA withholding.

Qualified Foreign Pension Funds

A qualified foreign pension fund (as defined in the Code) (or an entity all of the interests of which are held by a qualified foreign pension fund) that holds our common stock directly or indirectly (through one or more partnerships) will not be subject to tax under FIRPTA or to FIRPTA withholding on distributions by us or dispositions of our common stock.

FATCA Withholding

Withholding at a rate of 30% is required on dividends paid in respect of shares of our common stock to certain foreign financial institutions (including investment funds), unless such institution enters into an agreement with the Secretary of the Treasury (unless alternative procedures apply pursuant to an applicable intergovernmental agreement between the United States and the relevant foreign government) to report, on an annual basis, information with respect to shares in, and accounts maintained by, the institution to the extent such shares or accounts are held by certain U.S. persons or by certain non-U.S. entities that are wholly or partially owned by U.S. persons. Accordingly, the entity through which our shares are held may affect the determination of whether such withholding is required. Similarly, dividends paid in respect of our shares to an investor that is a passive non-financial non-U.S. entity will be subject to withholding at a rate of 30%, unless such entity either (1) certifies to us that such entity does not have any “substantial U.S. owners” or (ii) provides certain information regarding the entity’s “substantial U.S. owners,” which we will in turn provide to the Secretary of the Treasury. While withholding under FATCA would also have applied to payments of gross proceeds from the disposition of stock after December 31, 2018, proposed Treasury Regulations eliminate FATCA withholding on gross proceeds payments. Taxpayers generally may rely on these proposed Treasury Regulations until final Treasury Regulations are issued. Non-U.S. shareholders are encouraged to consult with their tax advisers regarding the possible implications of these rules on their investment in our common stock.

Estate Tax

If our shares are owned or treated as owned by an individual who is not a U.S. citizen or resident (as specifically defined for federal estate tax purposes) at the time of the individual’s death, the shares will be includible in the individual’s gross estate for federal estate tax purposes and may be subject to federal estate tax, unless an applicable estate tax treaty provides otherwise.

Information Reporting Requirements and Backup Withholding Tax

U.S. Shareholders. In general, information reporting requirements will apply to payments of distributions on our stock and payments of the proceeds of the sale of our stock, unless an exception applies. Further, the payer will be required to withhold backup withholding tax at a 24% rate if:

• The payee fails to furnish a taxpayer identification number to the payer or to establish an exemption from backup withholding;

• The IRS notifies the payer that the taxpayer identification number furnished by the payee is incorrect;

• A notified payee has been under-reporting with respect to interest, dividends or original issue discount described in Section 3406(c) of the Code; or

• The payee has failed to certify under the penalty of perjury that the payee is not subject to backup withholding under the Code.

Some shareholders, including corporations, will be exempt from backup withholding. Any amounts withheld under the backup withholding rules from a payment to a shareholder will be allowed as a credit against the shareholder’s federal income tax and may entitle the shareholder to a refund, provided that the shareholder furnishes the required information to the IRS.

Non-U.S. Shareholders. Generally, information reporting will apply to payments of distributions on our stock, and backup withholding may apply, unless the payee certifies that it is not a U.S. person or otherwise establishes an exemption.

The payment of the proceeds from the disposition of our stock to or through the U.S. office of a U.S. or foreign broker will be subject to information reporting and, possibly, backup withholding unless the non-U.S. Shareholder certifies as to its non-U.S. status or otherwise establishes an exemption, provided that the broker does not have actual knowledge that the shareholder is a U.S. person or that the conditions of any other exemption are not, in fact, satisfied. The proceeds of the disposition by a non-U.S. Shareholder of our stock to or through a foreign office of a broker generally will not be subject to information reporting or backup withholding. However, if the broker is a U.S. person, a controlled foreign corporation for U.S. tax purposes or a foreign person 50% or more whose gross income from all sources for specified periods is from activities that are effectively connected with a U.S. trade or business, information reporting generally will apply unless the broker has documentary evidence as to the non-U.S. Shareholder’s foreign status and has no actual knowledge to the contrary.

Tax Basis and Other Information Reporting. Brokers are subject to information reporting requirements relating to certain transactions involving shares of our capital stock acquired on or after January 1, 2011 by a shareholder other than an exempt recipient (“covered stock”). Specifically, upon the transfer or redemption of shares of covered stock, the broker must report certain information to the shareholder and the IRS, including the adjusted tax basis of the shares and whether any gain or loss recognized on the transfer or redemption is long-term or short-term. Shares of covered stock will be transferred or redeemed on a “first in/first out” basis unless the shareholder identifies specific lots to be transferred or redeemed in a timely manner.

If we take an organizational action such as a stock split, merger, or acquisition that affects the tax basis of shares of covered stock or even make distributions that exceed our current or accumulated earnings and profits, we will report to each shareholder and the IRS (or post on our primary public Web site) a description of the action and the quantitative effect of that action on the tax basis of the applicable shares. Although corporations generally qualify as exempt recipients, an S corporation will not qualify as an exempt recipient with respect to shares of our common stock that the S corporation acquires on or after January 1, 2012. Thus, the transfer or redemption of shares of our capital stock acquired by an S corporation on or after January 1, 2012 will be subject to the reporting requirements discussed above.

Brokers may be subject to transfer statement reporting on certain transactions not otherwise subject to the reporting requirements discussed above (excluding transactions involving shares acquired before January 1, 2011). Transfer statements, however, are issued only between “brokers” and are not issued to shareholders or the IRS.

Shareholders are encouraged to consult their tax advisors regarding the application of the information reporting rules discussed above to their investment in our common stock.

Tax Aspects of the Operating Partnership

General. The Operating Partnership holds substantially all of our investments. In general, partnerships are “pass-through” entities that are not subject to federal income tax. Rather, partners are allocated their proportionate shares of the items of income, gain, loss, deduction and credit of a partnership, and are potentially subject to tax thereon, without regard to whether the partners receive a distribution from the partnership. We include in our income our proportionate share of these Operating Partnership items for purposes of the various REIT income tests and in the computation of our REIT taxable income. Moreover, for purposes of the REIT asset tests, we include our proportionate share of assets held by the Operating Partnership.

Tax Allocations with Respect to the Properties. Pursuant to Section 704(c) of the Code, income, gain, loss and deduction attributable to appreciated or depreciated property that is contributed to a partnership in exchange for an interest in the partnership, must be allocated in a manner such that the contributing partner is charged with the unrealized gain, or benefits from the unrealized loss, associated with the property at the time of the contribution. The amount of the unrealized gain or unrealized loss is generally equal to the difference between the fair market value of contributed property at the time of contribution and the adjusted tax basis of the property at the time of contribution, which we refer to as a “book-tax difference.” These allocations are solely for federal income tax purposes and do not

affect the book capital accounts or other economic or legal arrangements among the partners. The Operating Partnership was formed by way of contributions of appreciated property. Consequently, the partnership agreement of the Operating Partnership requires allocations to be made in a manner consistent with Section 704(c) of the Code.

In general, the partners who have contributed interests in appreciated properties to the Operating Partnership will be allocated lower amounts of depreciation deductions for tax purposes than such deductions would be if determined on a pro rata basis. In addition, in the event of the disposition of any of the contributed assets that have a book-tax difference, all taxable income attributable to the book-tax difference generally will be allocated to the contributing partners, and we generally will be allocated only our share of capital gains attributable to appreciation, if any, occurring after the closing of the acquisition of the properties. This will tend to eliminate the book-tax difference over the life of the Operating Partnership. However, the special allocation rules of Section 704(c) of the Code do not always entirely eliminate the book-tax difference on an annual basis or with respect to a specific taxable transaction such as a sale. Thus, the carryover basis of the contributed assets in the hands of the Operating Partnership will cause us to be allocated lower depreciation and other deductions and possibly amounts of taxable income in the event of a sale of the contributed assets in excess of the economic or book income allocated to it as a result of the sale. This may cause us to recognize taxable income in excess of cash proceeds, which might adversely affect our ability to comply with the REIT distribution requirement.

Treasury Regulations under Section 704(c) of the Code provide partnerships with a choice of several methods of accounting for book-tax differences, including the “traditional method” that may leave some of the book-tax differences unaccounted for, or the election of certain methods which would permit any distortions caused by a book-tax difference to be entirely rectified on an annual basis or with respect to a specific taxable transaction such as a sale. For most property contributions, we, along with the Operating Partnership, have determined to use the “traditional method” for accounting for book-tax differences with respect to the properties contributed to the Operating Partnership. As a result of this determination, distributions to shareholders will be comprised of a greater portion of taxable income and less return of capital than if another method for accounting for book-tax differences had been selected. We, along with the Operating Partnership, have not determined which of the alternative methods of accounting for book-tax differences will be elected with respect to properties contributed to the Operating Partnership in the future.

With respect to any property purchased by the Operating Partnership, this property initially will have a tax basis equal to its fair market value and Section 704(c) of the Code will not apply.

Basis in Operating Partnership Interest. Our adjusted tax basis in our interest in the Operating Partnership generally:

• Will equal the amount of cash and the basis of any other property that we contributed to the Operating Partnership;

• Will increase by our allocable share of the Operating Partnership’s income and our allocable share of debt of the Operating Partnership; and

• Will decrease, but not below zero, by our allocable share of losses suffered by the Operating Partnership, the amount of cash distributed to us, and constructive distributions resulting from a reduction in our share of debt of the Operating Partnership.

If the allocation of our distributive share of the Operating Partnership’s loss exceeds the adjusted tax basis of our partnership interest in the Operating Partnership, the recognition of the excess loss will be deferred until such time and to the extent that we have an adjusted tax basis in our interest in the Operating Partnership. To the extent that the Operating Partnership’s distributions, or any decrease in our share of the debt of the Operating Partnership (such decreases being considered a cash distribution to the partners) exceed our adjusted tax basis, the excess distributions (including such constructive distributions) constitute taxable income to us. This taxable income normally will be characterized as long-term capital gain if we have held our interest in the Operating Partnership for longer than one year, subject to reduced tax rates described above for non-corporate U.S. Shareholders, to the extent designated by us as a capital gain dividend. Under current law, capital gains and ordinary income of corporations generally are taxed at the same marginal rates.

Sale of the Properties. Our share of gain realized by the Operating Partnership on the sale of any property held by the Operating Partnership as inventory or other property held primarily for sale to customers in the ordinary course of the Operating Partnership’s trade or business will be treated as income from a prohibited transaction that is subject to a 100% penalty tax unless a safe harbor exception applies. Prohibited transaction income also may have an adverse effect upon our ability to satisfy the income tests for qualification as a REIT. Under existing law, whether the Operating Partnership holds its property as inventory or primarily for sale to customers in the ordinary course of its trade or business is a question of fact that depends on all the facts and circumstances with respect to the particular

transaction. The Operating Partnership intends to hold the properties for investment with a view to long-term appreciation, to engage in the business of acquiring, developing, owning and operating the properties and to make such occasional sales of the properties, including peripheral land, as are consistent with the Operating Partnership’s investment objectives.

Partnership Audits. U.S. federal income tax audits of partnerships are conducted at the entity level, but unless such entity qualifies for and affirmatively elects an alternative procedure, any adjustments to the amount of tax due (including interest and penalties) will be payable by the entity itself. Under the alternative procedure, if elected, a partnership would issue information returns to persons who were partners in the audited year, who would then be required to take the adjustments into account in calculating their own tax liability, and the partnership would not be liable for the adjustments. If any of our Operating Partnership or any of its subsidiary partnerships are able to and in fact elect the alternative procedure for a given adjustment, the amount of taxes for which such persons will be liable will be increased by any applicable penalties and a special interest charge. There can be no assurance that any such entities will be eligible to make such an election or that it will, in fact, make such an election for any given adjustment.

State and Local Tax

We and our shareholders may be subject to state and local tax in various states and localities, including those in which we or they transact business, own property or reside. The tax treatment of us and the shareholders in such jurisdictions may differ from the federal income tax treatment described above. Consequently, prospective shareholders should consult their own tax advisors regarding the effect of state and local tax laws on an investment in our stock.

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Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 16, 2022	Jun. 30, 2021	Dec. 31, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	1-9044
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-1740409
Entity Address, Address Line One	8711 River Crossing Boulevard
Entity Address, City or Town	Indianapolis,
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46240
City Area Code	(317)
Local Phone Number	808-6000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	DRE
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 18,010,000,000.00
Common Stock, Par or Stated Value Per Share	$ 0.01			$ 0.01
Entity Common Stock, Shares Outstanding		382,767,539
Entity Registrant Name	DUKE REALTY CORPORATION
Entity Central Index Key	0000783280
Entity Emerging Growth Company	false
Entity Small Business	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Duke Realty Limited Partnership [Member]
Entity Information [Line Items]
Document Type	10-K
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2021
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Registrant Name	DUKE REALTY LIMITED PARTNERSHIP
Entity Central Index Key	0001003410
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

XML

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	Indianapolis, Indiana

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets [Abstract]
Real Estate Assets	$ 9,616,076	$ 8,745,155
Construction in Progress	744,871	695,219
Investments in and advances to unconsolidated joint ventures	168,336	131,898
Undeveloped land	473,317	291,614
Real estate investment property, at cost, total	11,002,600	9,863,886
Accumulated depreciation	(1,684,413)	(1,659,308)
Net real estate investments	9,318,187	8,204,578
Real estate investments and other assets held-for-sale	144,651	67,946
Cash and cash equivalents	69,752	6,309
Accounts receivable	13,449	15,204
Straight-line rent receivable	172,225	153,943
Receivables on construction contracts, including retentions	57,258	30,583
Deferred Leasing and other costs, net of accumulated amortization	337,936	329,765
Restricted cash held in escrow for like-kind exchange	0	47,682
Other escrow deposits and other assets	332,197	255,384
Total Assets	10,445,655	9,111,394
Liabilities and Equity [Abstract]
Secured debt, net of deferred financing costs	59,418	64,074
Unsecured debt, net of deferred financing costs	3,629,864	3,025,977
Unsecured line of credit	0	295,000
Long-term debt, total	3,689,282	3,385,051
Liabilities related to real estate investments held-for-sale	6,278	7,740
Construction payables and amounts due subcontractors, including retentions	107,009	62,332
Accrued real estate taxes	77,464	76,501
Accrued interest	20,815	18,363
Other Liabilities	339,023	269,806
Tenant Security Deposits and Prepaid Rents	66,823	57,153
Total Liabilities	4,306,694	3,876,946
Equity:
Common shares	3,825	3,733
Additional paid in capital	6,143,147	5,723,326
Accumulated other comprehensive loss	(28,011)	(31,568)
Distributions in excess of net income	(75,210)	(532,519)
Total stockholders' equity	6,043,751	5,162,972
Noncontrolling interests	95,210	71,476
Total Equity	6,138,961	5,234,448
Total Liabilities and Equity	10,445,655	9,111,394
Duke Realty Limited Partnership [Member]
Assets [Abstract]
Real Estate Assets	9,616,076	8,745,155
Construction in Progress	744,871	695,219
Investments in and advances to unconsolidated joint ventures	168,336	131,898
Undeveloped land	473,317	291,614
Real estate investment property, at cost, total	11,002,600	9,863,886
Accumulated depreciation	(1,684,413)	(1,659,308)
Net real estate investments	9,318,187	8,204,578
Real estate investments and other assets held-for-sale	144,651	67,946
Cash and cash equivalents	69,752	6,309
Accounts receivable	13,449	15,204
Straight-line rent receivable	172,225	153,943
Receivables on construction contracts, including retentions	57,258	30,583
Deferred Leasing and other costs, net of accumulated amortization	337,936	329,765
Restricted cash held in escrow for like-kind exchange	0	47,682
Other escrow deposits and other assets	332,197	255,384
Total Assets	10,445,655	9,111,394
Liabilities and Equity [Abstract]
Secured debt, net of deferred financing costs	59,418	64,074
Unsecured debt, net of deferred financing costs	3,629,864	3,025,977
Unsecured line of credit	0	295,000
Long-term debt, total	3,689,282	3,385,051
Liabilities related to real estate investments held-for-sale	6,278	7,740
Construction payables and amounts due subcontractors, including retentions	107,009	62,332
Accrued real estate taxes	77,464	76,501
Accrued interest	20,815	18,363
Other Liabilities	339,023	269,806
Tenant Security Deposits and Prepaid Rents	66,823	57,153
Total Liabilities	4,306,694	3,876,946
Equity:
Common equity	6,071,762	5,194,540
Limited Partners' common equity	90,679	66,874
Accumulated other comprehensive loss	(28,011)	(31,568)
Total partners' equity	6,134,430	5,229,846
Noncontrolling interest	4,531	4,602
Total Equity	6,138,961	5,234,448
Total Liabilities and Equity	$ 10,445,655	$ 9,111,394

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Consolidated Balance Sheets Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred leasing and other costs, accumulated amortization	$ 209,975	$ 204,122
Debt Issuance Costs, Net	$ 45,440	$ 33,106
Common shares, par value	$ 0.01	$ 0.01
Common shares, shares authorized	600,000,000	600,000,000
Common shares, shares issued	382,513,000	373,258,000
Common shares, shares outstanding	382,513,000	373,258,000
Duke Realty Limited Partnership [Member]
Deferred leasing and other costs, accumulated amortization	$ 209,975	$ 204,122
Common equity, General Partner Units issued	382,513,000	373,258,000
Common equity, General Partner Units outstanding	382,513,000	373,258,000
Limited Partner Units issued	3,663,000	3,326,000
Limited Partner Units outstanding	3,663,000	3,326,000
Secured Debt [Member]
Debt Issuance Costs, Net	$ 304	$ 343
Secured Debt [Member] | Duke Realty Limited Partnership [Member]
Debt Issuance Costs, Net	304	343
Unsecured Debt [Member]
Debt Issuance Costs, Net	45,136	32,763
Unsecured Debt [Member] | Duke Realty Limited Partnership [Member]
Debt Issuance Costs, Net	$ 45,136	$ 32,763

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Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Rental and related revenue	$ 1,025,663	$ 929,194	$ 855,833
General contractor and service fee revenue	80,260	64,004	117,926
Revenues, Total	1,105,923	993,198	973,759
Expenses:
Rental expenses	85,782	76,639	75,584
Real estate taxes	159,580	149,295	129,520
General contractor and other services expenses	68,118	57,976	111,566
Depreciation and amortization	362,148	353,013	327,223
Costs and expenses, total	675,628	636,923	643,893
Other Operating Activities
Equity in earnings of unconsolidated joint ventures	32,804	11,944	31,406
Gain on sale of properties	585,685	127,700	234,653
Gain on land sales	12,917	10,458	7,445
Other operating expenses	(3,607)	(8,209)	(5,318)
Impairment charges	0	(5,626)	0
Non-incremental costs related to successful leases	(13,302)	(12,292)	(12,402)
General and administrative expenses	(69,554)	(62,404)	(60,889)
Other operating activities, net	544,943	61,571	194,895
Operating income	975,238	417,846	524,761
Other income (expenses):
Interest and other income, net	4,451	1,721	9,941
Interest expense	(84,843)	(93,442)	(89,756)
Loss on debt extinguishment	(17,901)	(32,900)	(6,320)
Gain on involuntary conversion	3,222	4,312	2,259
Income from continuing operations before income taxes	880,167	297,537	440,885
Income tax (expense) benefit	(18,549)	5,112	(8,686)
Income from continuing operations	861,618	302,649	432,199
Discontinued operations:
Gain on sale of properties	0	111	445
Income from discontinued operations	0	111	445
Net income	861,618	302,760	432,644
Net income attributable to noncontrolling interests	(8,723)	(2,845)	(3,672)
Net income attributable to common shareholders	$ 852,895	$ 299,915	$ 428,972
Basic net income per common share:
Continuing operations attributable to common shareholders/unitholders	$ 2.25	$ 0.81	$ 1.18
Total	2.25	0.81	1.18
Diluted net income per common share:
Continuing operations attributable to common shareholders/unitholders	2.25	0.80	1.18
Total	$ 2.25	$ 0.80	$ 1.18
Weighted average number of common shares/units outstanding	377,673	370,057	362,234
Weighted average number of common shares/units and potential dilutive securities	383,476	374,156	367,339
Comprehensive Income (Loss) [Abstract]
Net income	$ 861,618	$ 302,760	$ 432,644
Other comprehensive income (loss):
Unrealized losses on interest rate swap contracts	0	0	(30,893)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	3,557	3,468	533
Total other comprehensive income (loss)	3,557	3,468	(30,360)
Comprehensive income	865,175	306,228	402,284
Duke Realty Limited Partnership [Member]
Revenues:
Rental and related revenue	1,025,663	929,194	855,833
General contractor and service fee revenue	80,260	64,004	117,926
Revenues, Total	1,105,923	993,198	973,759
Expenses:
Rental expenses	85,782	76,639	75,584
Real estate taxes	159,580	149,295	129,520
General contractor and other services expenses	68,118	57,976	111,566
Depreciation and amortization	362,148	353,013	327,223
Costs and expenses, total	675,628	636,923	643,893
Other Operating Activities
Equity in earnings of unconsolidated joint ventures	32,804	11,944	31,406
Gain on sale of properties	585,685	127,700	234,653
Gain on land sales	12,917	10,458	7,445
Other operating expenses	(3,607)	(8,209)	(5,318)
Impairment charges	0	(5,626)	0
Non-incremental costs related to successful leases	(13,302)	(12,292)	(12,402)
General and administrative expenses	(69,554)	(62,404)	(60,889)
Other operating activities, net	544,943	61,571	194,895
Operating income	975,238	417,846	524,761
Other income (expenses):
Interest and other income, net	4,451	1,721	9,941
Interest expense	(84,843)	(93,442)	(89,756)
Loss on debt extinguishment	(17,901)	(32,900)	(6,320)
Gain on involuntary conversion	3,222	4,312	2,259
Income from continuing operations before income taxes	880,167	297,537	440,885
Income tax (expense) benefit	(18,549)	5,112	(8,686)
Income from continuing operations	861,618	302,649	432,199
Discontinued operations:
Gain on sale of properties	0	111	445
Income from discontinued operations	0	111	445
Net income	861,618	302,760	432,644
Net (income) loss attributable to noncontrolling interests	(369)	(182)	6
Net income attributable to common shareholders	$ 861,249	$ 302,578	$ 432,650
Basic net income per common share:
Continuing operations attributable to common shareholders/unitholders	$ 2.25	$ 0.81	$ 1.18
Total	2.25	0.81	1.18
Diluted net income per common share:
Continuing operations attributable to common shareholders/unitholders	2.25	0.80	1.18
Total	$ 2.25	$ 0.80	$ 1.18
Weighted average number of common shares/units outstanding	381,381	373,360	365,352
Weighted average number of common shares/units and potential dilutive securities	383,476	374,156	367,339
Comprehensive Income (Loss) [Abstract]
Net income	$ 861,618	$ 302,760	$ 432,644
Other comprehensive income (loss):
Unrealized losses on interest rate swap contracts	0	0	(30,893)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	3,557	3,468	533
Total other comprehensive income (loss)	3,557	3,468	(30,360)
Comprehensive income	$ 865,175	$ 306,228	$ 402,284

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 861,618	$ 302,760	$ 432,644
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of buildings and tenant improvements	304,935	297,158	272,422
Amortization of Other Deferred Charges	57,213	55,855	54,801
Amortization of deferred financing costs	9,735	9,155	6,536
Straight-line rental income and expense, net	(32,081)	(25,865)	(21,197)
Impairment charges	0	5,626	0
Loss on debt extinguishment	17,901	32,900	6,320
Gain (Loss) on Involuntary Conversion	(3,222)	(4,312)	(2,259)
Gain on land and property sales	(598,602)	(138,269)	(242,543)
Third-party construction contracts, net	(6,269)	(2,511)	9,254
Other accrued revenues and expenses, net	48,194	29,333	8,476
Equity in earnings (in excess of) less than operating distributions received from unconsolidated joint ventures	(16,996)	4,606	(18,556)
Net cash provided by operating activities	642,426	566,436	505,898
Cash flows from investing activities:
Development of real estate investments	(661,416)	(573,544)	(446,801)
Payments to Acquire Commercial Real Estate	(447,584)	(383,672)	(210,224)
Acquisition of land and other real estate assets	(700,632)	(248,413)	(388,202)
Second generation tenant improvements, leasing costs and building improvements	(68,445)	(45,037)	(53,137)
Other deferred leasing costs	(42,214)	(41,607)	(32,921)
Other assets	(19,067)	(4,868)	(10,777)
Proceeds from the repayments of notes receivable from property sales	0	110,000	162,550
Proceeds from land and property sales, net	1,067,967	336,255	432,662
Capital distributions from unconsolidated joint ventures	61,616	876	26,272
Capital contributions and advances to unconsolidated joint ventures	(22,640)	(6,211)	(34,496)
Net cash used for investing activities	(832,415)	(856,221)	(555,074)
Cash flows from financing activities:
Proceeds from issuance of common shares, net	406,576	187,856	272,761
Proceeds from unsecured debt	940,749	663,123	582,284
Payments on unsecured debt	(390,900)	(546,972)	(255,812)
Proceeds from secured debt financings	0	18,400	0
Payments on secured indebtedness including principal amortization	(4,413)	(13,457)	(45,515)
(Repayments) borrowings on line of credit, net	(295,000)	295,000	(30,000)
Distributions to common shareholders	(394,487)	(355,287)	(318,702)
Distributions to noncontrolling interests, net	(4,352)	(3,347)	(2,648)
Tax payments on stock-based compensation awards	(5,132)	(4,360)	(6,825)
Change in book overdrafts	(12,453)	1,941	138
Cash settlement of interest rate swaps	0	0	(35,569)
Other financing activities	(357)	163	(10,183)
Deferred financing costs	(14,262)	(7,483)	(4,839)
Redemption of Limited Partnership Units	(39)	0	0
Net cash provided by financing activities	225,930	235,577	145,090
Net increase (decrease) in cash, cash equivalents and restricted cash	35,941	(54,208)	95,914
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance	67,223	121,431	25,517
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	103,164	67,223	121,431
Non-cash investing and financing activities:
Lease liabilities arising from right-of-use assets	19,822	20,883	40,467
Assumption of indebtedness and other liabilities in real estate acquisitions	128,639	39,966	0
Non-cash distribution of assets from unconsolidated joint ventures, net	11,124	0	0
Contribution of properties to unconsolidated joint venture	74,942	0	0
Conversion of Limited Partner Units to common shares	5,099	0	1,624
Issuance of Limited Partner Units for acquisition	11,603	0	0
Duke Realty Limited Partnership [Member]
Cash flows from operating activities:
Net income	861,618	302,760	432,644
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of buildings and tenant improvements	304,935	297,158	272,422
Amortization of Other Deferred Charges	57,213	55,855	54,801
Amortization of deferred financing costs	9,735	9,155	6,536
Straight-line rental income and expense, net	(32,081)	(25,865)	(21,197)
Impairment charges	0	5,626	0
Loss on debt extinguishment	17,901	32,900	6,320
Gain (Loss) on Involuntary Conversion	(3,222)	(4,312)	(2,259)
Gain on land and property sales	(598,602)	(138,269)	(242,543)
Third-party construction contracts, net	(6,269)	(2,511)	9,254
Other accrued revenues and expenses, net	48,194	29,333	8,476
Equity in earnings (in excess of) less than operating distributions received from unconsolidated joint ventures	(16,996)	4,606	(18,556)
Net cash provided by operating activities	642,426	566,436	505,898
Cash flows from investing activities:
Development of real estate investments	(661,416)	(573,544)	(446,801)
Payments to Acquire Commercial Real Estate	(447,584)	(383,672)	(210,224)
Acquisition of land and other real estate assets	(700,632)	(248,413)	(388,202)
Second generation tenant improvements, leasing costs and building improvements	(68,445)	(45,037)	(53,137)
Other deferred leasing costs	(42,214)	(41,607)	(32,921)
Other assets	(19,067)	(4,868)	(10,777)
Proceeds from the repayments of notes receivable from property sales	0	110,000	162,550
Proceeds from land and property sales, net	1,067,967	336,255	432,662
Capital distributions from unconsolidated joint ventures	61,616	876	26,272
Capital contributions and advances to unconsolidated joint ventures	(22,640)	(6,211)	(34,496)
Net cash used for investing activities	(832,415)	(856,221)	(555,074)
Cash flows from financing activities:
Contributions from the General Partner	406,576	187,856	272,761
Proceeds from unsecured debt	940,749	663,123	582,284
Payments on unsecured debt	(390,900)	(546,972)	(255,812)
Proceeds from secured debt financings	0	18,400	0
Payments on secured indebtedness including principal amortization	(4,413)	(13,457)	(45,515)
(Repayments) borrowings on line of credit, net	(295,000)	295,000	(30,000)
Distributions to common shareholders	(398,399)	(358,484)	(321,469)
Distributions to noncontrolling interests, net	(440)	(150)	119
Tax payments on stock-based compensation awards	(5,132)	(4,360)	(6,825)
Change in book overdrafts	(12,453)	1,941	138
Cash settlement of interest rate swaps	0	0	(35,569)
Other financing activities	(357)	163	(10,183)
Deferred financing costs	(14,262)	(7,483)	(4,839)
Redemption of Limited Partnership Units	(39)	0	0
Net cash provided by financing activities	225,930	235,577	145,090
Net increase (decrease) in cash, cash equivalents and restricted cash	35,941	(54,208)	95,914
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance	67,223	121,431	25,517
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	103,164	67,223	121,431
Non-cash investing and financing activities:
Lease liabilities arising from right-of-use assets	19,822	20,883	40,467
Assumption of indebtedness and other liabilities in real estate acquisitions	128,639	39,966	0
Non-cash distribution of assets from unconsolidated joint ventures, net	11,124	0	0
Contribution of properties to unconsolidated joint venture	74,942	0	0
Conversion of Limited Partner Units to common shares	5,099	0	1,624
Issuance of Limited Partner Units for acquisition	$ 11,603	$ 0	$ 0

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Consolidated Statement of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Distributions in Excess of Net Income [Member]	Non-controlling Interest [Member]	Duke Realty Limited Partnership [Member]	Duke Realty Limited Partnership [Member] Common Stock [Member]	Duke Realty Limited Partnership [Member] Limited Partners' Common Equity [Member]	Duke Realty Limited Partnership [Member] Partners' Equity, Total [Member]	Duke Realty Limited Partnership [Member] Accumulated Other Comprehensive Income (Loss) [Member]	Duke Realty Limited Partnership [Member] Non-controlling Interest [Member]
Beginning Balance - General Partner at Dec. 31, 2018	$ 4,713,243	$ 3,589	$ 5,244,375	$ (4,676)	$ (585,087)	$ 55,042
Beginning Balance - Partnership at Dec. 31, 2018							$ 4,713,243	$ 4,662,877	$ 50,585	$ 4,708,786	$ (4,676)	$ 4,457
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	432,644				428,972	3,672	432,644	428,972	3,678	432,650		(6)
Other comprehensive loss	(30,360)			(30,360)			(30,360)			(30,360)	(30,360)
Issuance of common shares	272,761	83	272,678
Contributions from noncontrolling interests	312					312	312					312
Capital Contribution from the General Partner							272,761	272,761		272,761
Stock-based compensation plan activity	13,322	7	6,787		(1,175)	7,703	13,322	5,619	7,703	13,322
Conversion of Limited Partner Units		1	1,623			(1,624)		1,624	(1,624)
Distributions to Partners							(321,469)	(318,702)	(2,767)	(321,469)
Distributions to common shareholders/Partners - regular	(318,702)				(318,702)
Distributions to noncontrolling interests, net	(2,960)					(2,960)	(193)					(193)
Ending Balance - General Partner at Dec. 31, 2019	5,080,260	3,680	5,525,463	(35,036)	(475,992)	62,145
Ending Balance - Partnership at Dec. 31, 2019							5,080,260	5,053,151	57,575	5,075,690	(35,036)	4,570
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	302,760				299,915	2,845	302,760	299,915	2,663	302,578		182
Other comprehensive loss	3,468			3,468			3,468			3,468	3,468
Issuance of common shares	187,856	50	187,806
Contributions from noncontrolling interests	200					200	200					200
Capital Contribution from the General Partner							187,856	187,856		187,856
Stock-based compensation plan activity	18,738	3	10,057		(1,155)	9,833	18,738	8,905	9,833	18,738
Conversion of Limited Partner Units								5,099	(5,099)
Distributions to Partners							(358,484)	(355,287)	(3,197)	(358,484)
Distributions to common shareholders/Partners - regular	(355,287)				(355,287)
Distributions to noncontrolling interests, net	(3,547)					(3,547)	(350)					(350)
Ending Balance - General Partner at Dec. 31, 2020	5,234,448	3,733	5,723,326	(31,568)	(532,519)	71,476
Ending Balance - Partnership at Dec. 31, 2020							5,234,448	5,194,540	66,874	5,229,846	(31,568)	4,602
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	861,618				852,895	8,723	861,618	852,895	8,354	861,249		369
Other comprehensive loss	3,557			3,557			3,557			3,557	3,557
Issuance of common shares	406,576	82	406,494
Contributions from noncontrolling interests							11,564
Capital Contribution from the General Partner							406,576	406,576		406,576
Stock-based compensation plan activity	20,076	6	8,274		(1,099)	12,895	20,076	7,181	12,895	20,076
Partners' Capital Account, Acquisitions	11,564					11,564			11,564	11,564
Conversion of Limited Partner Units		4	5,095			(5,099)
Redemption of Limited Partner Units	(39)		(42)			3	(39)	(42)	3	(39)
Distributions to Partners							(398,399)	(394,487)	(3,912)	(398,399)
Distributions to common shareholders/Partners - regular	(394,487)				(394,487)
Distributions to noncontrolling interests, net	(4,352)					(4,352)	(440)					(440)
Ending Balance - General Partner at Dec. 31, 2021	$ 6,138,961	$ 3,825	$ 6,143,147	$ (28,011)	$ (75,210)	$ 95,210
Ending Balance - Partnership at Dec. 31, 2021							$ 6,138,961	$ 6,071,762	$ 90,679	$ 6,134,430	$ (28,011)	$ 4,531

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Consolidated Statement of Changes in Equity Consolidated Statement of Changes in Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock, Dividends, Per Share, Cash Paid	$ 1.045	$ 0.96	$ 0.88
Duke Realty Limited Partnership [Member]
Distribution Made to Limited Partner, Distributions Paid, Per Unit	$ 1.045	$ 0.96	$ 0.88

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The Company

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

General Basis of Presentation

The Company

The General Partner was formed in 1985, and we believe that it qualifies as a REIT under the provisions of the Code. The Partnership was formed on October 4, 1993, when the General Partner contributed all of its properties and related assets and liabilities, together with the net proceeds from an offering of additional shares of its common stock, to the Partnership. Simultaneously, the Partnership completed the acquisition of Duke Associates, a full-service commercial real estate firm operating in the Midwest whose operations began in 1972.

The General Partner is the sole general partner of the Partnership, owning approximately 99.1% of the Common Units at December 31, 2021. The remaining 0.9% of the Common Units are owned by limited partners. As the sole general partner of the Partnership, the General Partner has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Partnership. The General Partner and the Partnership are operated as one enterprise. The management of the General Partner consists of the same members as the management of the Partnership. As the sole general partner with control of the Partnership, the General Partner consolidates the Partnership for financial reporting purposes, and the General Partner does not have any significant assets other than its investment in the Partnership. Therefore, the assets and liabilities of the General Partner and the Partnership are substantially the same.

Limited partners have the right to redeem their Limited Partner Units, subject to certain restrictions. Pursuant to the Partnership Agreement, the General Partner is obligated to redeem the Limited Partner Units in shares of its common stock, unless it determines in its reasonable discretion that the issuance of shares of its common stock could cause it to fail to qualify as a REIT. Each Limited Partner Unit shall be redeemed for one share of the General Partner's common stock, or, in the event that the issuance of shares could cause the General Partner to fail to qualify as a REIT, cash equal to the fair market value of one share of the General Partner's common stock at the time of redemption, in each case, subject to certain adjustments described in the Partnership Agreement. The Limited Partner Units are not required, per the terms of the Partnership Agreement, to be redeemed in registered shares of the General Partner.

As of December 31, 2021, we owned and operated a portfolio primarily consisting of industrial properties and provided real estate services to third-party owners, customers and joint ventures.

Substantially all of our Rental Operations (see Note 9) are conducted through the Partnership. We conduct our Service Operations (see Note 9) through Duke Realty Services, LLC, Duke Realty Services Limited Partnership and Duke Construction Limited Partnership ("DCLP"), which are consolidated entities that are 100% owned by a combination of the General Partner and the Partnership. DCLP is owned through a taxable REIT subsidiary.

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include our accounts and the accounts of our majority-owned or controlled subsidiaries. The equity interests in these controlled subsidiaries not owned by us are reflected as noncontrolling interests in the consolidated financial statements. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. Investments in entities that we do not control, and variable interest entities ("VIEs") in which we are not the primary beneficiary (to the extent applicable), are not consolidated and are reflected as investments in unconsolidated joint ventures under the equity method of reporting.

Due to the fact that the Limited Partners do not have kick out rights, or substantive participating rights, the Partnership is a VIE. Because the General Partner holds majority ownership and exercises control over every aspect of the Partnership's operations, the General Partner has been determined as the primary beneficiary of the Partnership and, therefore, consolidates the Partnership.

The assets and liabilities of the General Partner and the Partnership are substantially the same, as the General Partner does not have any significant assets other than its investment in the Partnership.

Reclassifications

Certain amounts in the accompanying consolidated financial statements have been reclassified to conform to the 2021 consolidated financial statement presentation.

Real Estate Investments

Rental real property, including land, land improvements, buildings and tenant improvements, are included in real estate investments and are generally stated at cost. Construction in process and undeveloped land are included in real estate investments and are stated at cost. Real estate investments also include our equity interests in unconsolidated joint ventures that own and operate rental properties and hold land for development.

Depreciation

Buildings and land improvements are depreciated on the straight-line method over their estimated lives not to exceed 40 and 15 years, respectively, for properties that we develop, and not to exceed 30 and 10 years, respectively, for acquired properties. Tenant improvement costs are depreciated using the straight-line method over the shorter of the useful life of the asset or term of the related lease.

Cost Capitalization

Direct and certain indirect costs, including interest, clearly associated with the development, construction or expansion of real estate investments are capitalized as a cost of the property. Direct costs include all leasing commissions paid to third parties for new leases or lease renewals. We capitalize a portion of our indirect costs associated with our construction and development efforts. Costs that are incremental to executing a lease are capitalized. In assessing the amount of direct and indirect costs to be capitalized, allocations are made based on estimates of the actual amount of time spent in each activity. We do not capitalize any costs attributable to downtime or to unsuccessful projects.

We capitalize interest and direct and indirect project costs during the period when we commence activities necessary to get the property ready for its intended use, including land entitlement and preconstruction activities, up to the time the property is substantially complete and ready for its intended use. In addition, we capitalize costs, including real estate taxes, insurance and utilities, that have been allocated to vacant space based on the square footage of the portion of the building not held available for immediate occupancy during the extended lease-up periods after construction of the building shell has been completed if costs are being incurred to ready the vacant space for its intended use. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once necessary work has been completed on a vacant space, project costs are no longer capitalized.

We cease capitalization of all project costs on extended lease-up periods when significant activities have ceased, which does not exceed the shorter of a one-year period after the completion of the building shell or when the property attains 90% occupancy.

Impairment

We evaluate our real estate assets, with the exception of those that are classified as held-for-sale, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If such an evaluation is considered necessary, we compare the carrying amount of that real estate asset, or asset group, with the expected undiscounted cash flows that are directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of that asset, or asset group. Our estimate of the expected future cash flows used in testing for impairment is based on, among other things, our estimates regarding future market conditions, rental rates, occupancy levels, costs of tenant improvements, leasing commissions and other tenant concessions, assumptions regarding the residual value of our properties at the end of our anticipated holding period and the length of our anticipated holding period and is, therefore, subjective by nature. These assumptions could differ materially from actual results. If our strategy changes or if market conditions otherwise dictate a reduction in the holding period and an earlier sale date, an impairment loss could be recognized and such loss could be material.

To the extent the carrying amount of a real estate asset, or asset group, exceeds the associated estimate of undiscounted cash flows, an impairment loss is recorded to reduce the carrying value of the asset to its fair value.

The determination of the fair value of real estate assets is also highly subjective, especially in markets where there is a lack of recent comparable transactions. We primarily utilize the income approach to estimate the fair value of our income producing real estate assets. We utilize marketplace participant assumptions to estimate the fair value of a real estate asset when an impairment charge is required to be measured. The estimation of future cash flows, as well as the selection of the discount rate and exit capitalization rate used in applying the income approach, are highly subjective measures in estimating fair value.

Real estate assets classified as held-for-sale are reported at the lower of their carrying value or their fair value, less estimated costs to sell. Once a property is designated as held-for-sale, no further depreciation expense is recorded.

Asset Acquisitions

Our acquisitions of properties have been accounted for as asset acquisitions as they have not met the definition of a business. Transaction costs related to asset acquisitions are capitalized. To the extent that we gain control of real estate properties that are accounted for as asset acquisitions, as opposed to business combinations, we accumulate the costs of any pre-existing equity interests and consideration paid for additional interest acquired and we do not remeasure our pre-existing equity interest. Generally contingencies arising from an asset acquisition are only recognized when probable.

We allocate the purchase price of asset acquisitions to tangible and identified intangible assets based on their relative fair values, using all pertinent information available at the date of acquisition. Capitalized acquisition costs are also included in the total cost basis of acquired properties that are asset acquisitions. The allocation to tangible assets (buildings, tenant improvements and land) is based upon management's determination of the value of the property as if it were vacant. This “as-if vacant” value is estimated using an income, or discounted cash flow, approach that relies upon internally determined assumptions that we believe are consistent with current market conditions for similar properties. The most important assumptions in determining the allocation of the purchase price to tangible assets are the exit capitalization rate, estimated market rents and the fair value of the underlying land. The purchase price of real estate assets is also allocated to intangible assets consisting of the above or below market component of in-place leases and the value of in-place leases.

The value allocable to the above or below market component of an acquired in-place lease is determined based upon the present value (using a discount rate which reflects the risks associated with the acquired leases) of the difference between (i) the contractual amounts to be received pursuant to the lease over its remaining term and (ii) management's estimate of the amounts that would be received using fair market rates over the remaining term of the lease. The amounts allocated to above market leases are included in deferred leasing and other costs in the balance sheet and below market leases are included in other liabilities in the balance sheet; both are amortized to rental income over the remaining terms of the respective leases.

Factors considered in determining the value allocable to in-place leases include estimates, during hypothetical expected lease-up periods, of space that is actually leased at the time of acquisition, of lost rent at market rates, fixed operating costs that will be recovered from tenants and theoretical leasing commissions required to execute similar leases. These intangible assets are included in deferred leasing and other costs in the balance sheet and are amortized over the remaining term of the existing lease.

Joint Ventures

We have equity interests in unconsolidated joint ventures that are primarily engaged in the operation and development of industrial real estate properties.

We consolidate joint ventures that are considered to be VIEs where we are the primary beneficiary. We analyze our investments in joint ventures to determine if the joint venture is considered a VIE and would require consolidation. We (i) evaluate the sufficiency of the total equity investment at risk, (ii) review the voting rights and decision-making authority of the equity investment holders as a group and whether there are limited partners (or similar

owning entities) that lack substantive participating or kick out rights, guaranteed returns, protection against losses, or capping of residual returns within the group and (iii) establish whether activities within the venture are on behalf of an investor with disproportionately few voting rights in making this VIE determination.

To the extent that we own interests in a VIE and we (i) have the power to direct the activities that most significantly impact the economic performance of the VIE and (ii) have the obligation or rights to absorb losses or receive benefits that could potentially be significant to the VIE, then we would be determined to be the primary beneficiary and would consolidate the VIE. To the extent that we own interests in a VIE, then at each reporting period, we re-assess our conclusions as to which, if any, party within the VIE is considered the primary beneficiary. Consolidated joint ventures that are VIE's were not significant in any period presented in these consolidated financial statements.

To the extent that our joint ventures do not qualify as VIEs, they are consolidated if we control them through majority ownership interests or if we are the managing entity (general partner or managing member) and our partner does not have substantive participating rights. Control is further demonstrated by our ability to unilaterally make significant operating decisions, refinance debt and sell the assets of the joint venture without the consent of the non-managing entity and the inability of the non-managing entity to remove us from our role as the managing entity. Consolidated joint ventures that are not VIEs are not significant in any period presented in these consolidated financial statements.

We use the equity method of accounting for those joint ventures where we exercise significant influence but do not have control. Under the equity method of accounting, our investment in each joint venture is included on our balance sheet; however, the assets and liabilities of the joint ventures for which we use the equity method are not included on our balance sheet.

When we sell or contribute properties to unconsolidated joint ventures and retain a non-controlling ownership interest in such assets, we recognize the difference between the consideration received and the carrying amount of the asset sold or contributed when its derecognition criteria are met. The equity method investment we retain in such partial sale transactions is noncash consideration and is measured at fair value. As a result, the accounting for a partial sale results in the recognition of a full gain or loss.

When circumstances indicate there may have been a reduction in the value of an equity investment, we evaluate whether the loss in value is other than temporary. If we conclude it is other than temporary, we recognize an impairment charge to reflect the equity investment at fair value.

In July 2021, we entered into a 20%-owned unconsolidated joint venture with CBRE Global Investors ("CBREGI") with plans to contribute three tranches of properties. We contributed two separate tranches of properties to the joint venture during 2021 (see Note 5) while the third tranche was closed in January 2022 (see Note 14). The joint venture financed the acquisition of these properties with a combination of third party first mortgage loans and equity contributions from our partner in this joint venture.

There were no unconsolidated joint ventures, in which we have any recognized assets or liabilities or have retained any economic exposure to loss at December 31, 2021 that met the criteria to be considered VIEs. At December 31, 2021, we guaranteed the repayment of a loan associated with one of our unconsolidated joint ventures. The maximum guarantee exposure for the loan was approximately $4.8 million.

Cash Equivalents

Investments with an original maturity of three months or less are classified as cash equivalents.

Valuation of Receivables

Our determination of the adequacy of our allowances for tenant receivables includes a binary assessment of whether or not the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and

deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination.

Deferred Costs

Deferred Financing Costs

Costs incurred in connection with obtaining financing are deferred and are amortized to interest expense over the term of the related loan. The costs for issuing debt, other than lines of credit, are presented on the consolidated balance sheets as a direct deduction from the debt's carrying value, while debt issuance costs related to the Partnership's unsecured line of credit are presented as assets on the consolidated balance sheets, as part of other escrow deposits and other assets.

Lease Related Costs and Acquired Lease-Related Intangible Assets

Costs that are directly incremental to executing a lease are capitalized.

Acquired lease-related intangible assets consist of above market lease assets and the value allocable to in-place leases. Above market lease assets are amortized as a reduction to rental income over the remaining terms of the respective leases. In-place lease intangible assets are amortized on a straight-line basis and included within depreciation and amortization in the consolidated statements of operations and comprehensive income.

Deferred leasing costs and acquired lease-related intangible assets at December 31, 2021 and 2020, excluding amounts classified as held-for-sale, were as follows (in thousands):

	2021		2020
Deferred leasing costs	$	376,597	$	359,646
Acquired lease-related intangible assets	171,314		174,241
	$	547,911	$	533,887
Accumulated amortization - deferred leasing costs	$	(122,789)	$	(120,756)
Accumulated amortization - acquired lease-related intangible assets	(87,186)		(83,366)
Total	$	337,936	$	329,765

Amounts recorded related to amortization expense for in-place leases for the years ended December 31, 2021, 2020 and 2019 totaled $20.4 million, $19.5 million and $22.0 million, respectively. Charges to rental income related to the amortization of above market lease assets for the years ended December 31, 2021, 2020 and 2019 totaled $367,000, $639,000 and $703,000, respectively.

The expected future amortization, or charge to rental income, of acquired lease-related intangible assets is summarized in the table below (in thousands):

Year	Amortization Expense		Charge to Rental Income
2022	$	18,168	$	352
2023	15,271		353
2024	11,986		59
2025	9,789		—
2026	7,574		—
Thereafter	20,576		—
	$	83,364	$	764

Noncontrolling Interests

Noncontrolling interests relate to the minority ownership interests in the Partnership and interests in consolidated property partnerships that are not wholly owned by the General Partner or the Partnership. Noncontrolling interests are subsequently adjusted for additional contributions, distributions to noncontrolling holders and the noncontrolling holders' proportionate share of the net earnings or losses of each respective entity. We report noncontrolling interests as a component of total equity.

When a Common Unit of the Partnership is redeemed (Note 1), the change in ownership is treated as an equity transaction by the General Partner and there is no effect on its earnings or net assets.

Revenue Recognition

Rental and Related Revenue

Rental income from leases to customers is recognized on a straight-line basis. If a lease provides for tenant improvements, we determine whether we or the tenant is the owner of the tenant improvements. When we are the owner of the tenant improvements, any tenant improvements funded by the tenant are treated as lease payments which are deferred and amortized as revenue over the lease term. When the tenant is the owner of the tenant improvements, and we fund such improvements, we record such tenant improvement allowances as lease incentives and amortize as a reduction of revenue over the lease term.

We record lease termination fees when a tenant has executed a definitive termination agreement with us and the payment of the termination fee is not subject to any material conditions that must be met or waived before the fee is due to us.

General Contractor and Service Fee Revenue

General contractor and service fee revenues are comprised primarily of construction and development related revenues earned from third parties while acting in capacity of a developer, as a general contractor or a construction manager. We evaluate the goods and services provided in these construction arrangements to determine whether we are acting as principal or agent and, accordingly, recognize revenue on a gross or net basis based on that evaluation. There are other ancillary streams of revenue included in general contractor and service fee revenues (see Note 9), such as management fees earned from unconsolidated joint ventures in accordance with the terms specific to each arrangement, which are not significant.

Our construction arrangements are typically structured with only one performance obligation, which generally represents an obligation either to construct a new building or to construct fixtures in an existing building, and these single performance obligations are satisfied over time as construction progresses. We recognize revenue as we satisfy such performance obligations using the percentage of completion method, which is an input method. Using this method, profits are recorded based on our estimates of the percentage of completion of individual contracts, commencing when the work performed under the contracts reaches a point where the final costs can be estimated with reasonable accuracy. The percentage of completion estimates are based on a comparison of the contract expenditures incurred to the estimated final costs. We believe the percentage of completion method is a faithful

depiction of the transfer of goods and services as changes in job performance and estimated profitability, which result in revisions to costs and income and are recognized in the period in which the revisions are determined, have not historically been significant. We typically receive regular progress payments on the majority of our construction arrangements and such arrangements generally have an original duration of less than one year. As the result of the relatively short duration of our construction arrangements, we apply the optional disclosure exemptions, related to our remaining performance obligations for our in-process construction projects, for which any future variable consideration is not material. Changes in job performance, job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined. To the extent that a fixed-price contract is estimated to result in a loss, the loss is recorded immediately.

Opening and closing balances of construction receivables are presented separately on the Consolidated Balance Sheets. Under billed and over billed receivables on construction contracts totaled $45.8 million and $1.9 million, respectively, at December 31, 2021 and $16.6 million and $105,000, respectively, at December 31, 2020. Over billed receivables are included in other liabilities in the Consolidated Balance Sheets. We generally do not have any contract assets associated with our construction arrangements.

Management fees are based on a percentage of rental receipts of properties managed and are recognized as the rental receipts are collected. Maintenance fees are based upon established hourly rates and are recognized as the services are performed.

Property Sales

Only disposals representing a strategic shift in operations (for example, a disposal of a major geographic area or a major line of business) should be presented as discontinued operations in accordance with ASC 205-20, without consideration of significant continuing involvement.

We recognize gains on sales of properties, including partial sales, of non-financial assets (and in-substance non-financial assets) when the recognition criteria are met. In the typical course of our business, sales of non-financial assets represent only one performance obligation and are recognized when an enforceable contract is in place, collectability is ensured and control is transferred to the buyer.

Leases

As a lessor, our primary business is the development, acquisition, and operation of industrial real estate properties that are held for investment and leased to tenants. We manage residual risk through investing in properties that we believe will appreciate in value over time. We also evaluate the collectability of the cash flows of our leases prior to their execution, and on an ongoing basis, to ensure collectability is probable prior to recognizing lease revenues on an accrual basis.

We only capitalize the incremental costs of signing a lease. Non-incremental costs attributable to successful leases, as presented in the Consolidated Statements of Operations, represent internal costs allocable to successful leasing activities and exclude estimated costs related to downtime and/or unsuccessful deals. These costs primarily consist of compensation and other benefits for internal leasing and legal personnel. These costs are not capitalizable "incremental costs" in the context of the applicable lease accounting rules, but we believe separate presentation on the Consolidated Statements of Operations provides useful information for purposes of comparability with economically similar success-based costs incurred by other organizations that outsource their leasing functions, which are generally capitalizable.

We exclude certain lessor costs, such as real estate taxes and insurance, that are paid directly by lessees to third parties, from rental revenue and the associated rental expense. Lessor costs that are paid by the lessor and reimbursed by the lessee continue to be recorded through rental revenue and the associated rental expense.

The applicable lease accounting rules allow a practical expedient for lessors to not separate rental recovery revenue related to lease-related services from the associated rental revenue related to the lease when certain criteria are met. The lease-related services provided to our tenants include property management, common area maintenance ("CAM") and utilities. We assessed the applicable criteria, concluding that the timing and straight-line pattern of

transfer to the lessees for rental recovery revenue from our lease-related services and revenue from the underlying leases are the same and that lease classification does not change, and we have consistently applied this practical expedient in all periods presented.

As a lessee, we apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset. This classification determines whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. In the capacity of a lessee, we record a right-of-use ("ROU") asset and a lease liability for all leases with a term of greater than 12 months regardless of classification.

See Note 3 for further disclosure on our leases as a lessor and lessee.

Net Income Per Common Share or Common Unit

Basic net income per common share or Common Unit is computed by dividing net income attributable to common shareholders or common unitholders, less dividends or distributions on share-based awards expected to vest (referred to as "participating securities" and primarily composed of unvested restricted stock units), by the weighted average number of common shares or Common Units outstanding for the period.

Diluted net income per common share is computed by dividing the sum of net income attributable to common shareholders and the noncontrolling interest in earnings allocable to Limited Partner Units (to the extent the Limited Partner Units are dilutive), less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, weighted average number of Limited Partner Units outstanding and any potential dilutive securities for the period. Diluted net income per Common Unit is computed by dividing the net income attributable to common unitholders, less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of Common Units outstanding and any potential dilutive securities for the period.

The following table reconciles the components of basic and diluted net income per common share or Common Unit (in thousands): 

	2021		2020		2019
General Partner
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972
Less: Dividends on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common shareholders	851,539		298,468		427,485
Add back dividends on dilutive participating securities	1,356		—		1,487
Noncontrolling interest in earnings of common unitholders	8,354		2,663		3,678
Diluted net income attributable to common shareholders	$	861,249	$	301,131	$	432,650
Weighted average number of common shares outstanding	377,673		370,057		362,234
Weighted average Limited Partner Units outstanding	3,708		3,303		3,118
Other potential dilutive shares	2,095		796		1,987
Weighted average number of common shares and potential dilutive securities	383,476		374,156		367,339
Partnership
Net income attributable to common unitholders	$	861,249	$	302,578	$	432,650
Less: Distributions on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common unitholders	$	859,893	$	301,131	$	431,163
Add back distributions on dilutive participating securities	1,356		—		1,487
Diluted net income attributable to common unitholders	$	861,249	$	301,131	$	432,650
Weighted average number of Common Units outstanding	381,381		373,360		365,352
Other potential dilutive units	2,095		796		1,987
Weighted average number of Common Units and potential dilutive securities	383,476		374,156		367,339

The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands):

	2021	2020	2019
General Partner and Partnership
Other potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	—	—	—
Anti-dilutive outstanding participating securities	—	1,621	—

Federal Income Taxes

General Partner

The General Partner has elected to be taxed as a REIT under the Code, as amended. To qualify as a REIT, the General Partner must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of its REIT taxable income to its shareholders. Management intends to continue to adhere to these requirements and to maintain the General Partner's REIT status. As a REIT, the General Partner is entitled to a tax deduction for the dividends it pays to shareholders. Accordingly, the General Partner generally will not be subject to federal income taxes as long as it currently distributes to shareholders an amount equal to or in excess of its taxable income. The General Partner is, however, generally subject to federal income taxes on any taxable income that is not currently distributed to its shareholders. If the General Partner fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years.

REIT qualification reduces, but does not eliminate, the amount of state and local taxes we pay. In addition, our financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to federal, state and local income taxes. As a REIT, the General Partner may also be subject to certain federal excise taxes if it engages in certain types of transactions.

The following table reconciles the General Partner's net income to taxable income before the dividends paid deduction, and subject to the 90% distribution requirement, for the years ended December 31, 2021, 2020 and 2019 (in thousands): 

	2021		2020		2019
Net income	$	861,618	$	302,760	$	432,644
Book/tax differences	(467,205)		63,838		(120,421)
Taxable income before the dividends paid deduction	394,413		366,598		312,223
Less: capital gains	(33,652)		(62,165)		(62,513)
Adjusted taxable income subject to the 90% distribution requirement	$	360,761	$	304,433	$	249,710

The General Partner's dividends paid deduction is summarized below (in thousands): 

	2021		2020		2019
Cash dividends paid	$	394,487	$	355,287	$	318,702
Cash dividends declared and paid in subsequent year that apply to current year	26,886		22,960		6,521
Cash dividends declared and paid in current year that apply to previous year	(22,960)		(6,521)		(9,286)
Dividends paid deduction	398,413		371,726		315,937
Less: Capital gain distributions	(33,652)		(62,165)		(62,513)
Dividends paid deduction attributable to adjusted taxable income subject to the 90% distribution requirement	$	364,761	$	309,561	$	253,424

Our tax return for the year ended December 31, 2021 has not been filed. The taxability information presented for our dividends paid in 2021 is based upon management’s estimate. Consequently, the taxability of dividends is subject to change. A summary of the designated tax characterization of the dividends paid by the General Partner for the years ended December 31, 2021, 2020 and 2019 is as follows:

	2021		2020		2019
Common Shares
Ordinary income	91.5	%	74.6	%	80.7	%
Capital gains	8.5	%	25.4	%	19.3	%
	100.0	%	100.0	%	100.0	%

Partnership

For the Partnership, the allocated share of income and loss other than the operations of its taxable REIT subsidiary is included in the income tax returns of its partners; accordingly the only federal income taxes included in the accompanying consolidated financial statements of the Partnership are in connection with its taxable REIT subsidiary.

Income taxes are not material to our operating results or financial position. Our taxable REIT subsidiary has no significant net deferred income tax positions or unrecognized tax benefit items.

Cash Paid for Income Taxes

We paid federal, state and local income taxes, net of income tax refunds, of $22.2 million and $7.8 million in 2021 and 2019, respectively. We received income tax refunds, net of federal, state and local income tax payments, of $308,000 in 2020.

Fair Value Measurements

We estimate fair value using available market information and valuation methodologies. Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities to which we have access.

Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals.

Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity's own assumptions, as there is little, if any, related market activity.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Derivative Financial Instruments

We periodically enter into certain interest rate protection agreements to effectively convert or cap floating rate debt to a fixed rate, and to hedge anticipated future financing transactions, both of which qualify for cash flow hedge accounting treatment. We do not utilize derivative financial instruments for trading or speculative purposes. The entire effect of any hedging instruments and hedged items are presented in the same income statement line item.

If a derivative qualifies as a cash flow hedge, the gain or loss on the derivative is recorded in accumulated other comprehensive income or loss and subsequently reclassified into interest expense in the same period during which the hedged forecasted transaction affects earnings. For all hedging relationships, we formally document the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged item, the nature of the risk being hedged and how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively.

Use of Estimates

The preparation of the financial statements requires management to make a number of estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

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Leases (Notes)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Leases

Lease Income

Our leases generally include scheduled rent increases, but do not include variable payments based on indexes. Our rental revenue is primarily based on fixed, non-cancelable leases. Our variable rental revenue primarily consists of amounts recovered from lessees for property tax, insurance and CAM.

All revenues related to lease and lease-related services are included in, and comprise substantially all of, the caption "Rental and Related Revenue" on the Consolidated Statements of Operations and Comprehensive Income. The components of Rental and Related Revenue are as follows (in thousands):

	Twelve Months Ended December 31,
	2021		2020		2019
Rental revenue - fixed payments	$	764,574	$	692,753	$	645,759
Rental revenue - variable payments (1)	261,089		236,441		210,074
Rental and related revenue	$	1,025,663	$	929,194	$	855,833

(1) Primarily includes tenant recoveries for real estate taxes, insurance and CAM.

The future minimum rents due to us under non-cancelable operating leases are as follows (in thousands):

Year	December 31, 2021
2022	$	784,537
2023	769,715
2024	705,620
2025	630,618
2026	546,431
Thereafter	2,299,185
	$	5,736,106

Lessee Accounting

As of December 31, 2021, our lease arrangements, where we are the lessee, primarily consisted of office and ground leases. For these lease arrangements, we recognized ROU assets and the corresponding lease liabilities representing the discounted value of future lease payments required. In determining these amounts, we elected an available practical expedient that allows us, as a lessee, to not separate lease and non-lease components. Expenses recognized on these leases for the year ended December 31, 2021 were not material.

Our operating leases primarily include all of our office leases and two ground leases. As of December 31, 2021, a $36.8 million ROU asset associated with operating leases was included within Other Escrow Deposits and Other Assets and a corresponding lease liability of $41.4 million was included in Other Liabilities on our Consolidated Balance Sheets. As of December 31, 2020, total ROU assets and liabilities for operating leases were $38.9 million and $42.9 million, respectively. The following table summarizes the future lease payments (in thousands) to be made under non-cancellable operating lease arrangements:

Year	December 31, 2021
2022	$	4,617
2023	4,327
2024	3,433
2025	1,759
2026	1,644
Thereafter	81,487
Total undiscounted operating lease payments	$	97,267
Less: imputed interest	55,904
Present value of operating lease payments	$	41,363

The weighted average remaining lease term for our operating lease arrangements, on a combined basis as of December 31, 2021, was 34.3 years. The weighted average discount rate for our operating lease arrangements as of December 31, 2021 was 4.42%. As the discount rates implied in our operating lease arrangements were not readily determinable, we utilized our current credit ratings and credit yields observed from market traded securities with similar credit ratings to form a reasonable basis to establish secured borrowing rates when determining the present value of future operating lease payments.

Our finance leases include two long term ground leases. As of December 31, 2021, a $37.5 million ROU asset associated with finance leases was included within Other Escrow Deposits and Other Assets and a corresponding $39.2 million lease liability was included within Other Liabilities on our Consolidated Balance Sheets. As of December 31, 2020, total finance lease related ROU assets and liabilities were $19.2 million and $19.4 million, respectively. The future lease payments (in thousands) under our finance leases as of December 31, 2021 for five years and thereafter are as follows:

Year	December 31, 2021
2022	$	1,414
2023	1,714
2024	1,731
2025	1,762
2026	1,787
Thereafter	127,532
Total undiscounted finance lease payments	$	135,940
Less: imputed interest	96,746
Present value of finance lease payments	$	39,194

The ground lease payment obligation for one ground lease is subject to an annual consumer price index increase limited within a minimum 2% and a maximum 3% increase. The contractual obligations for both leases included above assume the minimum annual increase for the remainder of the lease term since we cannot predict future adjustments. The weighted average remaining lease term for our finance lease arrangements, on a combined basis as of December 31, 2021 was 54.2 years. The weighted average discount rate for our finance lease arrangements as of December 31, 2021 was 5.12%. The lessors' implicit rates in the leases were readily determinable when the leases were commenced.

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Restricted Cash (Notes)

12 Months Ended

Dec. 31, 2021

Restricted Cash [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

Restricted Cash

Restricted cash primarily consists of cash proceeds from dispositions but restricted only for qualifying like-kind exchange transactions and cash held in escrow related to acquisition and disposition holdbacks. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows (in thousands):

	December 31, 2021		December 31, 2020
Cash and cash equivalents	$	69,752	$	6,309
Restricted cash held in escrow for like-kind exchange	—		47,682
Restricted cash included in other escrow deposits and other assets	33,412		13,232
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	103,164	$	67,223

Restricted cash held in escrow for like-kind exchange on the Consolidated Balance Sheets consists of cash received from property dispositions intended to be used for qualifying like-kind exchange transactions.

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Significant Acquisitions and Dispositions

12 Months Ended

Dec. 31, 2021

Real Estate [Abstract]

Asset Acquisition

Acquisitions and Dispositions

Acquisitions and dispositions for the periods presented were completed in accordance with our strategy to reposition our investment concentration among the markets in which we operate and to increase our overall investment concentration in Coastal Tier 1 markets. Transaction costs related to asset acquisitions are capitalized.

Acquisitions

The following table summarizes our real estate acquisition activities for the years ended December 31 (dollars in thousands):

	2021		2020		2019
Buildings:
Number of buildings	8		10		6
Cash paid at time of acquisition	$	447,584	$	383,672	$	210,224
Land and other real estate assets:
Acres of land	536		250		517
Cash paid at time of acquisition (1)	$	700,632	$	248,413	$	388,202

(1) Includes the cash acquisition cost of other real estate investments totaling $163.7 million, $13.1 million and $160.4 million for the years ended December 31, 2021, 2020 and 2019, respectively. See Note 7 for information on other real estate investments.

During 2021, we acquired a container storage lot in Northern New Jersey for a combination of $64.0 million of cash and Limited Partner Units with a fair value of $11.6 million. This income producing acquisition is included as part of land and other real estate assets above and also included in the table below.

The following table summarizes amounts recognized for each major class of assets and liabilities (in thousands) for acquisitions of income producing properties during the years ended December 31:

	2021		2020		2019
Real estate assets	$	570,820	$	410,481	$	205,390
Lease related intangible assets	11,796		14,460		11,716
Total acquired assets	$	582,616	$	424,941	$	217,106
Secured debt	—		25,455		—
Below market lease liabilities	57,441		14,124		—

The leases in the acquired properties had a weighted average remaining life at acquisition of approximately 11.0 years, 6.4 years and 6.5 years during 2021, 2020 and 2019, respectively.

Distribution of Joint Venture Properties

As part of a plan of dissolution, we received a non-cash distribution of real estate assets from two 50%-owned unconsolidated joint ventures. These joint ventures distributed their ownership in two in-service properties and certain parcels of undeveloped land to our partner, who shares control with us over both joint ventures, while distributing their ownership interest in an in-service property, a property under construction and a parcel of undeveloped land to us. These distributions were based on values negotiated between us and our partner on an arms-length basis and we determined that these negotiated values represented the fair value of the assets at their highest and best use, as determined from the perspective of a market participant. Concurrent with these asset distributions, both we and our partner assumed and repaid all of the joint ventures' unsecured debt, with each party paying off an amount necessary for the value of the assets distributed, net of debt repayments, to be equal.

As the result of this dissolution transaction, we recognized a gain of $10.6 million (included in equity in earnings in the Consolidated Statements of Operations), which was related to the properties distributed to our partner. We did not recognize a gain to remeasure our existing ownership interest in the assets we received in distribution and we recognized such assets at a combined basis of $52.2 million in the Consolidated Balance Sheets (not included in the 2021 Acquisitions table above). We assumed and immediately repaid unsecured debt of the joint ventures totaling $40.2 million.

Fair Value Measurements

We determine the fair value of the individual components of income producing real estate asset acquisitions primarily through calculating the "as-if vacant" value of a building, using an income approach, which relies significantly upon internally determined assumptions. We have determined that these estimates primarily rely on Level 3 inputs, which are unobservable inputs based on our own assumptions. The most significant assumptions used in calculating the "as-if vacant" value for acquisition activity during 2021 and 2020, respectively, are as follows:

	2021		2020
	Low	High	Low	High
Exit capitalization rate	3.50%	5.00%	3.98%	5.46%
Annual net rental rate per square foot on acquired buildings	$6.62	$17.16	$5.28	$18.11
Annual net rental rate per acre on acquired ground lease	$182,136	$182,136	$—	$—

The estimate of the portion of the "as-if vacant" value that is allocated to the land underlying the acquired real estate relies on Level 3 inputs and is primarily determined by reference to recent comparable transactions.

Capitalized acquisition costs were insignificant and the fair value of net assets acquired from unrelated parties during the year ended December 31, 2021 was substantially the same as the cost of acquisition.

Dispositions

Dispositions of buildings (see Note 7 for the number of buildings sold in each year) and undeveloped land generated net cash proceeds of $1.07 billion, $336.3 million and $432.7 million in 2021, 2020 and 2019, respectively.

On July 22, 2021, we closed on the sale of 14 wholly-owned buildings and 15 acres of undeveloped land, for net cash proceeds of $286.3 million, which completed our previously announced exit from the St. Louis market. This sale did not represent a strategic shift in operations.

In addition, in July 2021 we entered into a 20%-owned unconsolidated joint venture with plans to contribute three tranches of properties for a total of nine properties. Pursuant to the terms of the joint venture, on July 27, 2021, we contributed to the joint venture the first tranche of three properties, which consisted of two buildings and one trailer storage lot in Chicago and Atlanta, for net cash proceeds of $115.7 million. On September 21, 2021, we contributed

the second tranche of three properties, which consisted of two buildings and one trailer storage lot in Baltimore, to the joint venture for net cash proceeds of $172.9 million. The joint venture financed the acquisition of these properties with a combination of third party first mortgage loans and equity contributions from our partner. we received $41.1 million for our ownership share of proceeds from such third party first mortgage loans, which was included in capital distributions from unconsolidated joint ventures in the Consolidated Statements of Cash Flows for the year ended December 31, 2021. We closed on the contribution of the third tranche in January 2022 (see Note 14).

During 2020, we collected the remaining $110.0 million of principal on our outstanding notes receivable, which was related to the sale of our medical office portfolio during 2017.

In September 2019, we completed the sale of 18 non-strategic industrial properties for $217.5 million in proceeds and recorded a gain on sale of $146.3 million. These properties totaled 4.1 million square feet and were located in primarily Midwest markets.

All other dispositions were not individually material.

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Investments in Unconsolidated Companies

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Companies

Investments in Unconsolidated Joint Ventures

Summarized Financial Information

As of December 31, 2021, we had equity interests in nine unconsolidated joint ventures that primarily own and operate rental properties.

Combined summarized financial information for the unconsolidated joint ventures at December 31, 2021 and 2020, and for the years ended December 31, 2021, 2020 and 2019, are as follows (in thousands):

	2021		2020		2019
Rental revenue	$	67,142	$	57,952	$	59,905
Gains on land and property sales - continuing operations	$	64,480	$	2,076	$	24,099
Net income	$	85,323	$	19,183	$	40,134
Equity in earnings of unconsolidated joint ventures	$	32,804	$	11,944	$	31,406
Land, buildings and tenant improvements, net	$	625,206	$	321,803
Construction in progress	31,745		23,507
Undeveloped land	3,326		23,653
Other assets	106,521		79,842
	$	766,798	$	448,805
Indebtedness	$	286,430	$	155,539
Other liabilities	45,580		31,946
	332,010		187,485
Owners' equity	434,788		261,320
	$	766,798	$	448,805
Investments in and advances to unconsolidated joint ventures (1)	$	168,336	$	131,898

(1) Differences between the net investment in our unconsolidated joint ventures and our underlying equity in the net assets of the ventures are primarily a result of basis differences associated with the sales of properties to joint ventures in which we retained an ownership interest. These adjustments have resulted in an aggregate difference increasing our investments in unconsolidated joint ventures by $3.8 million and $2.7 million as of December 31, 2021 and 2020, respectively. Differences between historical cost basis and the basis reflected at the joint venture level (other than loans and impairments) are typically depreciated over the life of the related asset.

The scheduled principal payments of long term debt for the unconsolidated joint ventures, at our ratable ownership percentage, for each of the next five years and thereafter as of December 31, 2021 are as follows (in thousands):

Year	Future Repayments
2022	$	121
2023	126
2024	2,525
2025	30,885
2026	47,341
Thereafter	—
	$	80,998

During 2021, a 20% owned joint venture partially financed acquisitions of properties from us with third party mortgage loans and our proportional share of such borrowings was $41.5 million with maturity dates in 2026 (see Note 5). In January 2022, this unconsolidated joint venture financed an additional acquisition of assets from us with $34.0 million, at our proportional share, of third party mortgage loans that mature in 2025 (see Note 14).

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Discontinued Operations and Assets Held for Sale

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Assets Held for Sale

Real Estate Assets, Discontinued Operations and Assets Held-for-Sale

Real Estate Assets

Real estate assets, excluding assets held-for-sale, consisted of the following (in thousands):

	December 31, 2021		December 31, 2020
Buildings and tenant improvements	$	6,007,848	$	5,812,004
Land and improvements	3,435,591		2,883,674
Other real estate investments (1)	172,637		49,477
Real estate assets	$	9,616,076	$	8,745,155

(1) Includes underutilized in-fill sites, which may have had buildings/structures on site when we acquired them, that are either (i) under lease to a third party and, after the lease ends, are expected to be redeveloped or will require significant capital expenditures before re-leasing; or (ii) industrial/logistics properties that we intend to re-lease after significant retrofitting and/or environmental remediation is completed. The leases on these assets are usually short term in nature.

Allocation of Noncontrolling Interests - General Partner

The following table illustrates the General Partner's share of the income attributable to common shareholders from continuing operations and discontinued operations, reduced by the allocation of income between continuing and discontinued operations to noncontrolling interests, for the years ended December 31, 2021, 2020 and 2019, respectively (in thousands):

	2021		2020		2019
Income from continuing operations attributable to common shareholders	$	852,895	$	299,805	$	428,531
Income from discontinued operations attributable to common shareholders	—		110		441
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972

Allocation of Noncontrolling Interests - Partnership

Substantially all of the income from discontinued operations for all periods presented in the Partnership's Consolidated Statements of Operations and Comprehensive Income is attributable to the common unitholders.

Assets Sold or Held-for-Sale

The following table illustrates the number of sold or held-for-sale properties:

	Held-for-Sale at December 31, 2021	Sold in 2021	Sold in 2020	Sold in 2019	Total
Properties sold or classified as held-for-sale	3	30	7	28	68

These held-for-sale properties were wholly-owned and leased by our largest tenant, which was the third tranche of assets to be contributed to a 20% owned unconsolidated joint venture (see Note 5). The contribution was closed in January 2022 (see Note 14).

At December 31, 2021, three in-service properties were classified as held-for-sale, but did not meet the criteria to be classified within discontinued operations. The following table illustrates aggregate balance sheet information for properties held-for-sale (in thousands):

	Held-for-Sale Properties Included in Continuing Operations
	December 31, 2021		December 31, 2020
Land and improvements	$	67,818	$	27,954
Buildings and tenant improvements	102,867		44,800
Accumulated depreciation	(36,785)		(5,976)
Deferred leasing and other costs, net	5,392		936
Other assets	5,359		232
Total assets held-for-sale	$	144,651	$	67,946
Accrued expenses	$	43	$	660
Other liabilities	6,235		7,080
Total liabilities held-for-sale	$	6,278	$	7,740

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Indebtedness

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Indebtedness

Indebtedness

All debt is issued directly or indirectly by the Partnership. The General Partner does not have any indebtedness, but does guarantee some of the unsecured debt of the Partnership.

Indebtedness at December 31, 2021 and 2020 consists of the following (in thousands):

	Maturity Date	Weighted Average Interest Rate		Weighted Average Interest Rate
		2021		2020		2021		2020
Fixed rate secured debt	2025 to 2035	4.51	%	4.56	%	$	58,422	$	62,817
Variable rate secured debt	2025	0.12	%	0.08	%	1,300		1,600
Unsecured debt	2024 to 2050	3.00	%	3.35	%	3,675,000		3,058,740
Unsecured line of credit	2026	—	%	1.03	%	—		295,000
						$	3,734,722	$	3,418,157
Less: Deferred financing costs						45,440		33,106
Total indebtedness as reported on consolidated balance sheets						$	3,689,282	$	3,385,051

Secured Debt

At December 31, 2021, our secured debt was collateralized by rental properties with a carrying value of $158.9 million and by a letter of credit in the amount of $1.3 million.

The fair value of our fixed rate secured debt at December 31, 2021 was $60.0 million. Because our fixed rate secured debt is not actively traded in any marketplace, we utilized a discounted cash flow methodology to determine

its fair value. Accordingly, we calculated fair value by applying an estimate of the current market rate to discount the debt's remaining contractual cash flows. Our estimate of a current market rate, which is the most significant input in the discounted cash flow calculation, is intended to replicate debt of similar maturity and loan-to-value relationship. The estimated market rates for all of our current fixed rate secured debt are between 2.40% and 2.90%, depending on the attributes of the specific loans. The current market rates we utilized were internally estimated; therefore, we have concluded that our determination of fair value for our fixed rate secured debt was primarily based upon Level 3 inputs.

In February 2020, a consolidated joint venture obtained an $18.4 million secured loan from a third party financial institution, with a fixed annual interest rate of 3.41% and a maturity date of March 1, 2035.

In September 2020, we assumed two secured loans in conjunction with a two-building asset acquisition. These assumed loans had a total face value of $21.5 million and fair value of $25.5 million. These assumed loans had a weighted average remaining term at acquisition of 11.8 years and carried a weighted average stated interest rate of 4.54%. The difference between the fair value and the face value of loans assumed in connection with the acquisition is recorded as a premium and amortized to interest expense over the life of the loans assumed. We used an estimated market interest rate of 2.50% in determining the fair values of these loans.

During 2020, we repaid one fixed rate secured loan, totaling $9.0 million, which had a stated interest rate of 5.61%.

Unsecured Debt

At December 31, 2021, all of our unsecured debt bore interest at fixed rates and primarily consisted of unsecured notes that are publicly traded. We utilized broker estimates in estimating the fair value of our fixed rate unsecured debt. The broker estimates took into account any recent trades within the same series of our fixed rate unsecured debt, comparisons to recent trades of other series of our fixed rate unsecured debt, trades of fixed rate unsecured debt from companies with profiles similar to ours, as well as overall economic conditions. We reviewed these broker estimates for reasonableness and accuracy, considering whether the estimates were based upon market participant assumptions within the principal and most advantageous market and whether any other observable inputs would be more accurate indicators of fair value than the broker estimates. We concluded that the broker estimates were representative of fair value. We have determined that our estimation of the fair value of our fixed rate unsecured debt was primarily based upon Level 3 inputs. The estimated trading values of our fixed rate unsecured debt, depending on the maturity and coupon rates, ranged from 95.00% to 125.00% of face value.

The indentures (and related supplemental indentures) governing our outstanding series of unsecured notes also require us to comply with financial ratios and other covenants regarding our operations. We were in compliance with all such financial covenants at December 31, 2021.

We took the following actions during 2021 and 2020 as they pertain to our unsecured indebtedness:

•In November 2021, the Partnership issued $500.0 million of senior unsecured notes that bear a stated interest rate of 2.25%, have an effective interest rate of 2.38% and mature on January 15, 2032. Proceeds from this unsecured notes offering will be allocated to finance or refinance eligible green projects.

•In August 2021, we redeemed $250.0 million of 3.63% senior unsecured notes due April 2023. We recognized a loss of $13.9 million in connection with the redemption of these notes including the prepayment premium and write-off of unamortized deferred financing costs.

•In June 2021, we redeemed $83.7 million of 3.88% senior unsecured notes due October 2022. In connection with the early repayment of these notes, we recognized a loss of $3.9 million, including the prepayment premium and the write-off of unamortized deferred financing costs.

•In January 2021, the Partnership issued $450.0 million of senior unsecured notes that bear a stated interest rate of 1.75%, have an effective interest rate of 1.83%, and mature on February 1, 2031. Proceeds from the unsecured notes offering were allocated to finance or refinance eligible green projects. In addition, in January 2021, the Partnership assumed and immediately repaid $40.2 million of unsecured debt related to the assets received as part of the dissolution of unconsolidated joint ventures (see Note 5).

•In June 2020, we issued $350.0 million of senior unsecured notes, which bear interest at a stated interest rate of 1.75%, have an effective interest rate of 1.85% and mature on July 1, 2030. Proceeds from the unsecured notes offering were primarily used to repurchase and cancel $216.3 million of 3.88% senior

unsecured notes due 2022 pursuant to a tender offer completed by the Partnership in June 2020. In connection with the early cancellation of these notes, we recognized a loss of $15.1 million consisting of a repayment premium and the write-off of unamortized deferred financing costs.

•In February 2020, we issued $325.0 million of senior unsecured notes that bear interest at a stated interest rate of 3.05%, have an effective interest rate of 3.19%, and mature on March 1, 2050. Proceeds from the unsecured notes offering were primarily used to repay the $300.0 million of senior unsecured notes bearing a stated interest rate of 4.38% due 2022. In connection with the early redemption of these notes, we recognized a loss of $17.8 million consisting of a prepayment premium and the write-off of unamortized deferred financing costs.

Unsecured Line of Credit

Our unsecured line of credit at December 31, 2021 is described as follows (in thousands):

				Outstanding Balance at
Description	Borrowing Capacity		Maturity Date	December 31, 2021
Unsecured Line of Credit – Partnership	$	1,200,000	March 31, 2025	$	—

In March 2021, the Partnership amended and restated its existing $1.20 billion unsecured line of credit, which was set to mature in January 2022 with with options to extend until January 30, 2023. The amended and restated line of credit bears interest at one-month LIBOR plus 0.775% with a reduction in borrowing costs if certain sustainability linked metrics are achieved each year. In addition, the amended and restated line of credit matures on March 31, 2025 with options to extend until March 31, 2026. Subject to certain conditions, the terms also include an option to increase the facility by up to an additional $800.0 million, for a total of up to $2.00 billion. This line of credit provides us with an option to obtain borrowings from financial institutions that participate in the line at rates that may be lower than the stated interest rate, subject to certain restrictions. The line of credit also allows automatic transition to an alternative rate of interest in the event that the one-month LIBOR ceases to publish and needs to be replaced. As a result of amending and restating the unsecured line of credit, we incurred $6.2 million of deferred financing costs through December 31, 2021.

This line of credit contains financial covenants that require us to meet certain financial ratios and defined levels of performance, including those related to fixed charge coverage, unsecured interest expense coverage and debt-to-asset value (with asset value being defined in the Partnership's unsecured line of credit agreement). At December 31, 2021, we were in compliance with all financial covenants under this line of credit.

We utilized a discounted cash flow methodology in order to estimate the fair value of outstanding borrowings on our unsecured line of credit. To the extent that credit spreads have changed since the origination of the line of credit, the net present value of the difference between future contractual interest payments and future interest payments based on our estimate of a current market rate would represent the difference between the book value and the fair value. This estimate of a current market rate is based upon the rate, considering current market conditions and our specific credit profile, at which we estimate we could obtain similar borrowings. As our credit spreads have not changed appreciably, we believe that the contractual interest rate and the current market rate on any outstanding borrowings on the line of credit are the same. The current market rate is internally estimated and therefore is primarily based upon a Level 3 input.

Changes in Fair Value

As all of our fair value debt disclosures relied primarily on Level 3 inputs, the following table summarizes the book value and changes in the fair value of our debt for the year ended December 31, 2021 (in thousands): 

	Book Value at 12/31/2020		Book Value at 12/31/2021		Fair Value at 12/31/2020		Issuances and Assumptions		Payments/Payoffs		Adjustments to Fair Value		Fair Value at 12/31/2021
Fixed rate secured debt	$	62,817	$	58,422	$	65,848	$	—	$	(4,113)	$	(1,746)	$	59,989
Variable rate secured debt	1,600		1,300		1,600		—		(300)		—		1,300
Unsecured debt	3,058,740		3,675,000		3,387,913		990,226		(373,966)		(224,708)		3,779,465
Unsecured line of credit	295,000		—		295,000		—		(295,000)		—		—
Total	$	3,418,157	$	3,734,722	$	3,750,361	$	990,226	$	(673,379)	$	(226,454)	$	3,840,754
Less: Deferred financing costs	33,106		45,440
Total indebtedness as reported on the consolidated balance sheets	$	3,385,051	$	3,689,282

Scheduled Maturities and Interest Paid

At December 31, 2021, the scheduled amortization and maturities of all indebtedness, excluding fair value adjustment, for the next five years and thereafter were as follows (in thousands):

Year	Amount
2022	$	4,646
2023	4,893
2024	305,155
2025	5,102
2026	378,238
Thereafter	3,033,158
	$	3,731,192

The amount of interest paid in 2021, 2020 and 2019 was $107.9 million, $104.6 million and $111.8 million, respectively. The amount of interest capitalized in 2021, 2020 and 2019 was $35.0 million, $24.3 million and $26.5 million, respectively

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Segment Reporting

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

Reportable Segments

As of December 31, 2021, we had two reportable operating segments, the first consisting of the ownership and rental of industrial real estate investments. We continue to increase our investments in quality industrial properties largely based on anticipated geographic trends in supply and demand for industrial buildings, as well as the real estate needs of our major tenants that operate on a national level. We treat our industrial properties as a single operating and reportable segment based on our method of internal reporting. Properties not included in this reportable segment, because they are not industrial properties and do not by themselves meet the quantitative thresholds for separate presentation as a reportable segment, are generally referred to as non-reportable Rental Operations. Our non-reportable Rental Operations primarily include our remaining office properties and medical office property at December 31, 2021. The operations of our industrial properties, as well as our non-reportable Rental Operations, are collectively referred to as "Rental Operations."

Our second reportable segment consists of various real estate services such as development, general contracting, construction management, property management, asset management, maintenance and leasing to third-party property customers, owners and joint ventures, and is collectively referred to as "Service Operations." The Service Operations segment is identified as one single operating segment because the lowest level of financial results reviewed by our chief operating decision maker are the results for the Service Operations segment in total.  Further,

our reportable segments are managed separately because each segment requires different operating strategies and management expertise.

Revenues by Reportable Segment

The following table shows the revenues for each of the reportable segments, as well as a reconciliation to consolidated revenues, for the years ended December 31, 2021, 2020 and 2019 (in thousands):

	2021		2020		2019
Revenues
Rental Operations:
Industrial	$	1,019,342	$	921,612	$	848,806
Non-reportable Rental Operations	5,506		5,995		5,794
Service Operations	80,260		64,004		117,926
Total segment revenues	1,105,108		991,611		972,526
Other revenue	815		1,587		1,233
Consolidated revenue	$	1,105,923	$	993,198	$	973,759

Major Customer

The table below shows the revenues from a major customer from each of our reportable segments (in thousands):

	Twelve Months Ended December 31,
	2021		2020		2019
Revenues
Rental Operations - Industrial	$	91,495	$	92,986	$	63,805
Service Operations	30,315		32,771		45,177

We generated more than 10% of our total revenues from this customer for the year ended December 31, 2021. Revenues from Rental Operations related to leasing properties to this customer. Revenues from Service Operations for this customer pertained primarily to general contractor and fee based construction management services.

Supplemental Performance Measure

PNOI is the non-GAAP supplemental performance measure that we use to evaluate the performance of, and to allocate resources among, the real estate investments in the reportable and operating segments that comprise our Rental Operations. PNOI for our Rental Operations segments is comprised of rental revenues from continuing operations less rental expenses and real estate taxes from continuing operations, along with certain other adjusting items (collectively referred to as "Rental Operations revenues and expenses excluded from PNOI," as shown in the following table). Additionally, we do not allocate interest expense, depreciation expense and certain other non-property specific revenues and expenses (collectively referred to as "Non-Segment Items," as shown in the following table) to our individual operating segments.

We evaluate the performance of our Service Operations reportable segment using net income or loss, as allocated to that segment ("Earnings from Service Operations").The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes, for the years ended December 31, 2021, 2020 and 2019 (in thousands and excluding discontinued operations):

	2021		2020		2019
PNOI
Industrial	$	706,956	$	611,217	$	550,399
Non-reportable Rental Operations	5,227		5,020		3,811
PNOI, excluding all sold properties	712,183		616,237		554,210
PNOI from sold properties included in continuing operations	24,834		49,574		63,911
PNOI, continuing operations	737,017		665,811		618,121
Earnings from Service Operations	12,142		6,028		6,360
Rental Operations revenues and expenses excluded from PNOI:
Straight-line rental income and expense, net	32,081		25,865		21,197
Revenues related to lease buyouts	323		2,863		1,611
Amortization of lease concessions and above and below market rents	12,368		8,984		7,802
Intercompany rents and other adjusting items	(2,704)		(1,473)		1,012
Non-Segment Items:
Equity in earnings of unconsolidated joint ventures	32,804		11,944		31,406
Interest expense	(84,843)		(93,442)		(89,756)
Depreciation and amortization expense	(362,148)		(353,013)		(327,223)
Gain on sale of properties	585,685		127,700		234,653
Impairment charges	—		(5,626)		—
Interest and other income, net	4,451		1,721		9,941
General and administrative expenses	(69,554)		(62,404)		(60,889)
Gain on land sales	12,917		10,458		7,445
Other operating expenses	(3,607)		(8,209)		(5,318)
Loss on extinguishment of debt	(17,901)		(32,900)		(6,320)
Gain on involuntary conversion	3,222		4,312		2,259
Non-incremental costs related to successful leases	(13,302)		(12,292)		(12,402)
Other non-segment revenues and expenses, net	1,216		1,210		986
Income from continuing operations before income taxes	$	880,167	$	297,537	$	440,885

The most comparable GAAP measure to PNOI is income from continuing operations before income taxes. PNOI excludes expenses that materially impact our overall results of operations and, therefore, should not be considered as a substitute for income from continuing operations before income taxes or any other measures derived in accordance with GAAP. Furthermore, PNOI may not be comparable to other similarly titled measures of other companies.

Assets by Reportable Segment

 The assets for each of the reportable segments at December 31, 2021 and 2020 were as follows (in thousands):

	December 31, 2021		December 31, 2020
Assets
Rental Operations:
Industrial	$	9,887,635	$	8,709,960
Non-reportable Rental Operations	33,702		35,292
Service Operations	182,979		160,194
Total segment assets	10,104,316		8,905,446
Non-segment assets	341,339		205,948
Consolidated assets	$	10,445,655	$	9,111,394

In addition to revenues and PNOI, we also review our second generation capital expenditures in measuring the performance of our individual Rental Operations segments. We review these expenditures to determine the costs associated with re-leasing vacant space and maintaining the condition of our properties. Our second generation capital expenditures are included within "second generation tenant improvements, leasing costs and building improvements" in our consolidated statements of Cash Flows and are primarily attributable to the industrial segment for the years ended December 31, 2021, 2020 and 2019.

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Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit PlansWe maintain a 401(k) plan for our eligible employees. We make matching contributions of 50% of the employee salary deferral contributions up to 6% of eligible compensation and may also make annual discretionary contributions. A discretionary contribution was declared at the end of 2021, 2020 and 2019. The total expense recognized for this plan was $2.6 million, $2.2 million and $2.1 million for the years ended December 31, 2021, 2020 and 2019, respectively. Effective January 1, 2022, we have increased the matching contribution of 50% of employee salary deferral contributions to up to 10% of employees' eligible compensation.

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Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders' Equity of the General Partner and Partners' Capital of the Partnership

General Partner

The General Partner has an at the market ("ATM") equity program that allows it to issue and sell its common shares through sales agents from time to time. Actual sales under the ATM equity program depend on a variety of factors to be determined by the General Partner, including, among others, market conditions, the trading price of the General Partner’s common stock, determinations by the General Partner of the appropriate sources of funding and potential uses of funding available.

In February 2021, the General Partner terminated its previous equity distribution agreement for the ATM equity program and entered into a new equity distribution agreement pursuant to which the General Partner may sell from time to time up to an aggregate offering price of $400.0 million of its common stock through sales agents or forward sellers. No forward sales were executed in 2021 and substantially all of the capacity of this ATM program was utilized as of December 31, 2021.

During 2021, the General Partner issued 8.2 million common shares pursuant to its ATM equity programs, generating gross proceeds of $408.3 million and, after deducting commissions and other costs, net proceeds of $403.6 million. The proceeds from these offerings were contributed to the Partnership and used to fund development activities.

During 2020, the General Partner issued 4.6 million common shares pursuant to its ATM equity programs, generating gross proceeds of $177.1 million and, after deducting commissions and other costs, net proceeds of $175.0 million. The proceeds from these offerings were contributed to the Partnership and used to fund development activities.

During 2019, the General Partner issued 8.0 million common shares pursuant to its ATM equity program, generating gross proceeds of approximately $266.3 million and, after deducting commissions and other costs, net proceeds of approximately $263.3 million. The proceeds from these offerings were contributed to the Partnership and used to fund development activities.

Partnership

For each common share or preferred share that the General Partner issues, the Partnership issues a corresponding General Partner Unit or Preferred Unit, as applicable, to the General Partner in exchange for the contribution of the proceeds from the stock issuance. Similarly, when the General Partner redeems or repurchases common shares or preferred shares, the Partnership redeems the corresponding General Partner Units or Preferred Units held by the General Partner at the same price.

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Stock Based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock Based Compensation

Stock Based Compensation

We are authorized to issue up to 9.7 million shares of the General Partner's common stock under our stock-based employee and non-employee compensation plans. Executive officers may elect to receive Long-Term Incentive Plan Units ("LTIP Units"), which represent an interest in the Partnership, in lieu of stock based compensation awards denominated in the General Partner's common stock.

Restricted Stock Units ("RSUs")

Under our 2015 Long-Term Incentive Plan, which was approved by the General Partner's shareholders in April 2015, and our 2015 Non-Employee Directors Compensation Plan (collectively, the "Compensation Plans"), RSUs may be granted to non-employee directors, executive officers and selected employees. An RSU is economically equivalent to a share of the General Partner's common stock, and RSUs are valued based on the market price of the General Partner's common stock on the date of the award. Amounts disclosed below include both RSUs and any elected LTIP Units, which have the same vesting schedule as RSUs.

RSUs granted to employees from 2015 to 2021 vest ratably in most cases over a three-year period and are payable in shares of our common stock with a new share of such common stock issued upon each RSU's vesting. RSUs granted to existing non-employee directors vest 100% over one year and have contractual lives of one year.

To the extent that a recipient of an RSU grant is not determined to be retirement eligible, as defined by the Compensation Plans, we recognize expense on a straight-line basis over the vesting period. Expense is recognized immediately at the date of grant to the extent a recipient is retirement eligible and expense is accelerated to the extent that a participant will become retirement eligible prior to the end of the contractual life of granted RSUs.

The following table summarizes transactions for our unvested RSUs, excluding dividend equivalents, for 2021: 

Restricted Stock Units	Number of RSUs	Weighted Average Grant-Date Fair Value
December 31, 2020	678,803	$32.98
Granted in 2021	322,227	$42.15
Vested in 2021	(368,428)	$31.66
Forfeited in 2021	(41,760)	$37.47
December 31, 2021	590,842	$38.49

Compensation cost recognized for RSUs totaled $12.5 million, $12.1 million and $11.0 million for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, there was $6.3 million of total unrecognized compensation expense related to nonvested RSUs granted under the Plan, which is expected to be recognized over a weighted average period of 1.7 years.

The total intrinsic value (which is equal to the value of a share of the General Partner's common stock on the date of vesting) of RSUs vested during the years ended December 31, 2021, 2020 and 2019 was $11.7 million, $15.4 million and $17.7 million, respectively.

The weighted average grant-date fair value of RSUs granted during 2020 and 2019 was $37.28 and $29.98, respectively.

The weighted average grant-date fair value of nonvested RSUs as of December 31, 2019 was $27.73.

Performance-Based Awards

A portion of the annual stock-based compensation awards granted to our executive officers annually include performance conditions, measured over a three-year performance period, based on pre-established goals for growth in a defined adjusted funds from operations (“AFFO”) metric. These performance-based awards disclosed below include awards denominated in both common shares of the General Partner or LTIP Units. The total number of instruments issued at the end of each performance period may be earned in a range from 0% to 200% of the target value of the award depending on our AFFO performance relative to the pre-established goals.

To the extent that a recipient of these performance-based awards is not determined to be retirement eligible, as defined by the Compensation Plans, we recognize expense on a straight-line basis over the performance period based on the most likely payout percentage at each reporting period for each grant to the extent that a payout is determined to be probable. Expense is recognized immediately at the date of grant, based on the most likely payout percentage to the extent that a payout is determined to be probable, when a recipient is retirement eligible, and expense is accelerated to the extent that a participant will become retirement eligible prior to the end of the performance period of an award.

Details on the unvested amounts of these annual grants by performance period are as follows:

Performance-Based Awards	Unvested Awards Outstanding	Unvested Weighted Average Grant Date Fair Value
Unvested awards at December 31, 2020	207,712	$33.58
Above target performance adjustment	105,416	$29.98
Vested in 2021	(210,832)	$29.98
Granted in 2021	97,527	$42.07
Unvested awards at December 31, 2021	199,823	$39.62

A summary of vested performance-based awards that are denominated in LTIP units is as follows:

	Vested LTIP Awards Outstanding
Vested Awards at December 31, 2020	322,569
Vested in 2021	148,518
Completed holding period in 2021	(142,324)
Vested Awards at December 31, 2021	328,763

Compensation cost recognized for these performance-based awards totaled $8.5 million, $7.8 million and $6.2 million for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, there was $760,000 of total unrecognized compensation expense related to nonvested performance-based awards, which is expected to be recognized over a weighted average period of 1.5 years.

The weighted average grant-date fair value, per instrument, for these performance-based awards granted during 2020 and 2019 was $37.29 and $29.98.

The weighted average grant-date fair value of these nonvested performance-based awards as of December 31, 2019 was $27.50.

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Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure

Commitments and Contingencies

Legal

We are subject to various legal proceedings and claims that arise in the ordinary course of business. In the opinion of management, the amount of any ultimate liability with respect to these actions is not expected to materially affect our consolidated financial statements or results of operations. 

Environmental

We generally perform environmental site assessments at properties we are considering acquiring. The properties, particularly land parcels, we acquire may have been subject to adverse environmental conditions as a result of previous owners’ operations, which require remediation prior to development of land by the applicable environmental laws or regulations.

At the time of acquisition, we establish a liability for the costs associated with environmental remediation when such obligation has been incurred and can be reasonably estimated. Subsequently we adjust the liability as appropriate when additional information becomes available. We record such environmental liabilities in other liabilities on the Consolidated Balance Sheets. We purchase various environmental insurance policies to mitigate our exposure to environmental liabilities. As of December 31, 2021, we are not aware of any environmental liabilities that would have a material adverse effect on our consolidated financial condition, results of operations or cash flows.

Off-Balance Sheet Liabilities

The Partnership has guaranteed the repayment of $18.5 million of economic development bonds issued by various municipalities in connection with certain commercial developments. We may be required to make payments under our guarantees to the extent that incremental taxes from specified developments are not sufficient to pay the bond debt service. Management does not believe that it is probable that we will be required to make any significant payments in satisfaction of these guarantees.

The Partnership also has guaranteed the repayment of a loan associated with one of our unconsolidated joint ventures. At December 31, 2021, the maximum guarantee exposure for the loan was approximately $4.8 million.

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Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

Declaration of Dividends/Distributions

The General Partner's board of directors declared the following dividends/distributions at its regularly scheduled board meeting held on January 26, 2022:

Class of stock/units	Quarterly Amount per Share or Unit		Record Date	Payment Date
Common	$	0.28	February 16, 2022	February 28, 2022

Property Dispositions

In January 2022, we contributed three buildings to an unconsolidated joint venture. The joint venture financed the acquisition of these properties with a combination of third party first mortgage loans and equity contributions from our partner and we received approximately $289.7 million of net cash proceeds, including our share of the proceeds from the joint venture's first mortgage loans.

Debt Extinguishment

On January 14, 2022, we provided notice of redemption to the holders of our $300.0 million of 3.75% unsecured notes, which are scheduled to mature in December 2024. This redemption occurred on February 13, 2022 and resulted in a loss on debt extinguishment of approximately $22.0 million, which is comprised of the prepayment premium and the write-off of unamortized deferred financing costs.

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Schedule III

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation Disclosure [Text Block]

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Atlanta, Georgia
	Airport Distribution 3781	Industrial	—	4,064	11,383	320	4,064	11,703	15,767	3,683	2002	2014
Aurora, Illinois
	Meridian Business 880	Industrial	—	963	4,625	1,467	963	6,092	7,055	3,376	2000	2000
	4220 Meridian Parkway	Industrial	—	970	3,512	102	970	3,614	4,584	1,544	2004	2004
	Butterfield 2805	Industrial	—	9,185	10,795	5,847	9,272	16,555	25,827	11,623	2008	2008
	Butterfield 4000	Industrial	—	3,132	12,639	70	3,132	12,709	15,841	3,870	2016	2016
	Butterfield 2850	Industrial	—	11,317	18,305	130	11,317	18,435	29,752	6,561	2016	2016
	Butterfield 4200	Industrial	—	5,777	13,108	68	5,967	12,986	18,953	3,493	2016	2016
Austell, Georgia
	Hartman Business 7545	Industrial	—	2,640	21,471	20	2,640	21,491	24,131	8,725	2008	2012
	240 The Bluffs	Industrial	—	6,138	15,447	3,086	6,138	18,533	24,671	2,314	2018	2018
Avenel, New Jersey
	Paddock 1	Industrial	—	20,861	15,408	91	20,861	15,499	36,360	1,644	2020	2020
Baltimore, Maryland
	Chesapeake Commerce 5901	Industrial	—	3,345	1,355	3,855	3,365	5,190	8,555	3,834	2008	2008
	Chesapeake Commerce 5003	Industrial	—	6,488	7,087	5,767	6,546	12,796	19,342	6,739	2008	2008
	Chesapeake Commerce 1500	Industrial	—	8,289	10,109	108	8,333	10,173	18,506	4,326	2016	2016
	Chesapeake Commerce 5900	Industrial	—	5,567	6,100	876	5,567	6,976	12,543	2,373	2017	2017
	Chesapeake Commerce 6000	Industrial	—	2,418	10,369	362	2,418	10,731	13,149	835	2020	2020
Batavia, Ohio
	S Afton Industrial Park 3001	Industrial	—	5,729	20,717	—	5,729	20,717	26,446	2,881	2019	2019
Bloomingdale, Georgia
	Morgan Business Center 400	Industrial	—	18,385	44,455	539	18,385	44,994	63,379	9,004	2017	2017
Bolingbrook, Illinois
	250 East Old Chicago Road	Industrial	—	1,229	4,038	253	1,229	4,291	5,520	1,723	2005	2005
	Crossroads 2	Industrial	—	1,134	5,434	1,407	1,134	6,841	7,975	2,375	1998	2010
	Crossroads 375	Industrial	—	1,064	4,371	497	1,064	4,868	5,932	1,848	2000	2010
	Crossroads Parkway 370	Industrial	—	2,409	4,236	912	2,409	5,148	7,557	2,383	1989	2011
	Crossroads Parkway 605	Industrial	—	3,656	7,587	3,550	3,656	11,137	14,793	3,970	1998	2011
	Crossroads Parkway 335	Industrial	—	2,574	8,342	1,032	2,574	9,374	11,948	3,533	1997	2012

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Boynton Beach, Florida
	Gateway Center 1103	Industrial	—	3,701	5,300	1,712	3,702	7,011	10,713	2,920	2002	2010
	Gateway Center 3602	Industrial	—	1,738	4,584	265	1,739	4,848	6,587	1,789	2002	2010
	Gateway Center 3402	Industrial	—	2,063	3,218	471	2,064	3,688	5,752	1,485	2002	2010
	Gateway Center 2055	Industrial	—	1,560	2,583	175	1,560	2,758	4,318	1,036	2000	2010
	Gateway Center 2045	Industrial	—	1,073	1,541	835	1,073	2,376	3,449	922	2000	2010
	Gateway Center 2035	Industrial	—	1,073	1,304	699	1,073	2,003	3,076	772	2000	2010
	Gateway Center 2025	Industrial	—	1,560	2,658	145	1,560	2,803	4,363	1,048	2000	2010
	Gateway Center 1926	Industrial	—	4,143	9,900	1,458	4,144	11,357	15,501	4,653	2004	2010
Braselton, Georgia
	Braselton Business 920	Industrial	—	1,365	7,713	4,921	1,529	12,470	13,999	7,001	2001	2001
	625 Braselton Pkwy	Industrial	—	4,355	21,010	5,726	5,417	25,674	31,091	11,360	2006	2005
	1350 Braselton Parkway	Industrial	—	8,227	8,856	2,158	8,227	11,014	19,241	8,839	2008	2008
Brentwood, Tennessee
	Brentwood South Business 7104	Industrial	—	1,065	4,410	2,084	1,065	6,494	7,559	3,469	1987	1999
	Brentwood South Business 7106	Industrial	—	1,065	1,844	1,974	1,065	3,818	4,883	2,100	1987	1999
	Brentwood South Business 7108	Industrial	—	848	3,233	1,392	848	4,625	5,473	2,650	1989	1999
Brooklyn Park, Minnesota
	7300 Northland Drive	Industrial	—	700	5,289	862	703	6,148	6,851	3,398	1999	1998
	Crosstown North 9201	Industrial	—	835	4,433	1,501	1,121	5,648	6,769	3,168	1998	1999
	Crosstown North 8400	Industrial	—	2,079	4,926	3,044	2,233	7,816	10,049	4,003	1999	1999
	Crosstown North 9100	Industrial	—	1,079	3,743	999	1,166	4,655	5,821	2,591	2000	2000
	Crosstown North 9200	Industrial	—	1,222	2,674	2,690	1,256	5,330	6,586	2,262	2005	2005
	Crosstown North 7601	Industrial	—	2,998	7,472	885	2,998	8,357	11,355	3,366	2005	2005
Buena Park, California
	6280 Artesia Boulevard	Industrial	—	28,582	5,010	871	28,582	5,881	34,463	1,253	2005	2017
Carol Stream, Illinois
	Carol Stream 815	Industrial	—	3,037	11,210	1,849	3,037	13,059	16,096	6,008	2004	2003
	Carol Stream 640	Industrial	—	876	3,200	495	876	3,695	4,571	1,534	1999	2010
	Carol Stream 370	Industrial	—	1,319	5,960	1,053	1,332	7,000	8,332	2,561	2002	2010
	250 Kehoe Boulevard	Industrial	—	1,715	7,552	136	1,715	7,688	9,403	2,843	2008	2011
	Carol Stream 720	Industrial	—	3,362	17,759	1,020	4,083	18,058	22,141	6,592	1999	2011

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Carson, California
	20915 S Wilmington Ave	Industrial	—	24,350	7,934	545	24,350	8,479	32,829	346	1996	2020
Carteret, New Jersey
	900 Federal Blvd.	Industrial	—	2,088	24,712	36	2,088	24,748	26,836	4,503	2017	2017
Chino, California
	13799 Monte Vista	Industrial	—	14,046	8,236	2,252	14,046	10,488	24,534	6,983	2013	2013
Cincinnati, Ohio
	Kenwood Commons 8230	Office	663	638	35	2,460	638	2,495	3,133	769	1986	1993
	Kenwood Commons 8280	Office	637	638	275	2,059	638	2,334	2,972	1,241	1986	1993
	World Park 5389	Industrial	—	963	5,550	1,464	963	7,014	7,977	2,616	1994	2010
	World Park 5232	Industrial	—	1,078	5,074	818	1,077	5,893	6,970	2,139	1997	2010
	World Park 5399	Industrial	—	739	5,251	896	740	6,146	6,886	2,605	1998	2010
	World Park 5265	Industrial	—	2,118	11,569	4,480	2,118	16,049	18,167	5,889	2015	2010
City of Industry, California
	825 Ajax Ave	Industrial	—	38,930	27,627	8,133	38,930	35,760	74,690	6,546	2017	2017
	14508 Nelson Ave	Industrial	—	26,162	25,210	950	26,162	26,160	52,322	1,147	2010	2020
College Park, Georgia
	2929 Roosevelt Highway	Industrial	—	9,419	17,205	65	9,419	17,270	26,689	1,696	2020	2020
College Station, Texas
	Baylor College Station MOB	Medical Office	—	5,551	33,770	5,293	5,551	39,063	44,614	17,731	2013	2013
Columbus, Ohio
	RGLP Intermodal North 9224	Industrial	—	1,550	19,873	985	1,550	20,858	22,408	4,100	2016	2016
	RGLP Intermodal S 9799	Industrial	—	13,065	44,159	239	13,065	44,398	57,463	6,695	2018	2018
Coppell, Texas
	Freeport X	Industrial	—	2,145	12,784	3,624	2,145	16,408	18,553	7,325	2004	2004
	Point West 400	Industrial	—	10,181	12,803	9,041	10,475	21,550	32,025	14,092	2008	2008
	Point West 240	Industrial	—	6,785	11,700	6,299	7,519	17,265	24,784	10,965	2008	2008
	Point West 120	Industrial	—	3,267	8,695	147	3,267	8,842	12,109	4,058	2015	2015
Corona, California
	1283 Sherborn Street	Industrial	—	7,231	13,575	428	7,231	14,003	21,234	4,690	2005	2011
Cranbury, New Jersey
	311 Half Acre Road	Industrial	—	6,600	14,106	317	6,600	14,423	21,023	4,886	2004	2013
	315 Half Acre Road	Industrial	—	14,100	29,188	6,998	14,100	36,186	50,286	10,481	2004	2013

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Cypress, California
	6450 Katella Ave	Industrial	—	85,984	2,517	—	85,984	2,517	88,501	204	2021	2021
Davenport, Florida
	Park 27 Distribution 210	Industrial	—	1,143	5,052	600	1,198	5,597	6,795	2,698	2003	2003
	Park 27 Distribution 220	Industrial	—	4,374	5,066	5,850	4,502	10,788	15,290	6,664	2007	2007
Davie, Florida
	Westport Business Park 2555	Industrial	—	1,040	951	69	1,040	1,020	2,060	366	1991	2011
	Westport Business Park 2501	Industrial	—	943	629	239	943	868	1,811	401	1991	2011
	Westport Business Park 2525	Industrial	—	2,048	5,774	1,472	2,048	7,246	9,294	2,725	1991	2011
Deer Park, Texas
	801 Seaco Court	Industrial	—	2,331	4,673	627	2,331	5,300	7,631	2,240	2006	2012
Des Moines, Washington
	21202 24th Ave South	Industrial	—	18,720	36,496	43	18,720	36,539	55,259	4,946	2018	2018
	21402 24th Ave South	Industrial	—	18,970	31,048	1,176	18,970	32,224	51,194	4,140	2018	2018
Duluth, Georgia
	Sugarloaf 2775	Industrial	—	560	4,298	1,185	560	5,483	6,043	2,989	1997	1999
	Sugarloaf 3079	Industrial	—	776	4,536	3,482	776	8,018	8,794	4,260	1998	1999
	Sugarloaf 2855	Industrial	—	765	2,618	1,906	765	4,524	5,289	2,301	1999	1999
	Sugarloaf 6655	Industrial	—	1,651	6,804	879	1,651	7,683	9,334	3,591	1998	2001
	2625 Pinemeadow Court	Industrial	—	732	3,096	889	732	3,985	4,717	1,389	1994	2010
	2660 Pinemeadow Court	Industrial	—	459	1,670	118	459	1,788	2,247	699	1996	2010
	2450 Satellite Boulevard	Industrial	—	473	1,730	414	473	2,144	2,617	886	1994	2010
DuPont, Washington
	2700 Center Drive	Industrial	—	34,413	37,943	520	34,582	38,294	72,876	16,473	2013	2013
	2800 Center Drive	Industrial	—	21,025	48,060	1,794	21,025	49,854	70,879	2,420	2020	2020
	2900 Center Drive	Industrial	—	34,692	71,066	34	34,692	71,100	105,792	3,872	2020	2020
	2980 Center Drive	Industrial	—	15,956	17,527	(63)	15,956	17,464	33,420	861	1996	2020
	Center Drive trailer lot	Grounds	—	3,252	—	1	3,253	—	3,253	80	n/a	2020
Durham, North Carolina
	Centerpoint Raleigh 1805	Industrial	—	3,574	10,339	5,260	3,574	15,599	19,173	6,791	2000	2011
	Centerpoint Raleigh 1757	Industrial	—	2,607	8,722	125	2,607	8,847	11,454	2,990	2007	2011
Eagan, Minnesota
	Apollo 920	Industrial	—	866	3,234	2,036	895	5,241	6,136	3,178	1997	1997
	Apollo 940	Industrial	—	474	2,092	784	474	2,876	3,350	1,624	2000	2000
	Apollo 950	Industrial	—	1,432	5,988	127	1,432	6,115	7,547	3,333	2000	2000
	2015 Silver Bell Road	Industrial	—	1,740	4,180	2,997	1,740	7,177	8,917	4,135	1999	1999

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Trapp 1279	Industrial	—	671	3,441	1,054	691	4,475	5,166	2,494	1996	1998
	Trapp 1245	Industrial	—	1,250	5,424	1,784	1,250	7,208	8,458	4,048	1998	1998
East Point, Georgia
	Camp Creek 2400	Industrial	—	296	627	2,267	300	2,890	3,190	1,517	1988	2001
	Camp Creek 2600	Industrial	—	364	824	1,702	368	2,522	2,890	1,416	1990	2001
	Camp Creek 3201	Industrial	—	1,937	7,426	2,901	1,937	10,327	12,264	4,610	2004	2004
	Camp Creek 3900	Industrial	—	287	2,919	2,191	286	5,111	5,397	2,487	2005	2005
	Camp Creek 3909	Industrial	—	2,403	1,309	18,177	3,583	18,306	21,889	6,660	2014	2006
	Camp Creek 3000	Industrial	—	1,163	1,020	1,450	1,258	2,375	3,633	1,942	2007	2007
	Camp Creek 4800	Industrial	—	2,476	3,906	2,380	2,740	6,022	8,762	3,944	2008	2008
	Camp Creek 4100	Industrial	—	3,130	9,115	553	3,327	9,471	12,798	4,292	2013	2013
	Camp Creek 3700	Industrial	—	1,878	3,016	100	1,883	3,111	4,994	1,526	2014	2014
	Camp Creek 4909	Industrial	—	7,807	14,321	3,826	7,851	18,103	25,954	6,534	2016	2016
	Camp Creek 3707	Industrial	—	7,282	20,538	3	7,282	20,541	27,823	7,128	2017	2017
	Camp Creek 4505	Industrial	—	4,505	9,697	3,708	4,505	13,405	17,910	2,991	2017	2017
	Camp Creek 4900	Industrial	—	3,244	7,758	778	3,244	8,536	11,780	1,359	2019	2019
	Camp Creek 4850	Industrial	—	5,428	7,169	197	5,428	7,366	12,794	911	2020	2020
	1000 Logistics Way	Industrial	—	10,599	41,030	—	10,599	41,030	51,629	1,709	2021	2021
	Camp Creek 6200	Industrial	—	5,609	15,301	—	5,609	15,301	20,910	177	2021	2021
	2000 Centre Court	Industrial	—	3,938	10,297	—	3,938	10,297	14,235	43	2021	2021
East Rutherford, New Jersey
	66-96 East Union Avenue		—	18,043	3,954	—	18,043	3,954	21,997	186	1969	2021
Easton, Pennsylvania
	33 Logistics Park 1610	Industrial	—	24,752	55,500	1,982	24,896	57,338	82,234	19,386	2016	2016
	33 Logistics Park 1611	Industrial	—	17,979	20,882	1,970	17,979	22,852	40,831	8,385	2017	2017
	33 Logistics Park 1620	Industrial	—	29,786	33,023	1,352	29,791	34,370	64,161	7,449	2018	2018
Elk Grove Village, Illinois
	1717 Busse Road	Industrial	—	3,602	18,065	494	3,602	18,559	22,161	6,631	2004	2011
	901 Chase Avenue	Industrial	—	10,405	8,961	39	10,405	9,000	19,405	1,101	2020	2020
Ellenwood, Georgia
	2529 Old Anvil Block	Industrial	—	4,664	9,265	446	4,664	9,711	14,375	4,133	2014	2014
Fairfield, Ohio
	Union Centre Industrial 6019	Industrial	—	5,635	6,576	2,534	5,635	9,110	14,745	6,111	2008	2008
	Union Centre Industrial 5855	Industrial	—	3,009	15,387	2,063	3,009	17,450	20,459	4,745	2016	2016
	Fairfield Logistics Ctr 7940	Industrial	—	4,679	8,237	2,180	4,689	10,407	15,096	1,889	2018	2018

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Flower Mound, Texas
	Lakeside Ranch 550	Industrial	—	4,619	19,299	488	4,619	19,787	24,406	6,730	2007	2011
	Lakeside Ranch 1001	Industrial	—	5,662	23,061	2,317	5,662	25,378	31,040	3,724	2019	2019
	Lakeside Ranch 350	Industrial	—	3,665	10,105	4,312	3,665	14,417	18,082	1,452	2019	2019
Fontana, California
	14970 Jurupa Ave	Grounds	—	17,306	—	—	17,306	—	17,306	1,158	n/a	2016
	7953 Cherry Ave	Industrial	—	6,704	12,521	824	6,704	13,345	20,049	3,305	2017	2017
	9988 Redwood Ave	Industrial	—	7,755	16,326	695	7,755	17,021	24,776	4,692	2016	2017
	11250 Poplar Ave	Industrial	—	18,138	33,586	—	18,138	33,586	51,724	8,206	2016	2017
	16171 Santa Ana Ave	Industrial	—	13,681	13,331	112	13,681	13,443	27,124	2,377	2018	2018
Fort Lauderdale, Florida
	Interstate 95 2200	Industrial	—	9,332	13,401	2,123	9,332	15,524	24,856	3,319	2017	2017
	Interstate 95 2100	Industrial	—	10,948	18,681	—	10,948	18,681	29,629	3,513	2017	2017
Fort Worth, Texas
	Riverpark 3300	Industrial	—	1,673	10,633	856	1,674	11,488	13,162	5,016	2007	2011
Franklin, Tennessee
	Aspen Grove Business 277	Industrial	—	936	2,919	3,954	936	6,873	7,809	3,852	1996	1999
	Aspen Grove Business 320	Industrial	—	1,151	5,824	1,628	1,151	7,452	8,603	4,065	1996	1999
	Aspen Grove Business 305	Industrial	—	970	4,677	1,300	970	5,977	6,947	3,245	1998	1999
	Aspen Grove Business 400	Industrial	—	492	1,677	1,218	492	2,895	3,387	1,298	2002	2002
	Brentwood South Business 119	Industrial	—	569	1,063	1,625	569	2,688	3,257	1,485	1990	1999
	Brentwood South Business 121	Industrial	—	445	1,563	614	445	2,177	2,622	1,124	1990	1999
	Brentwood South Business 123	Industrial	—	489	962	1,347	489	2,309	2,798	1,391	1990	1999
Franklin Park, Illinois
	11501 West Irving Park Road	Industrial	—	3,900	2,702	1,835	3,900	4,537	8,437	2,321	2007	2007
Fremont, California
	48401 Fremont Blvd		—	33,621	19,407	—	33,621	19,407	53,028	708	2021	2021
Fullerton, California
	500 Burning Tree Rd	Industrial	—	7,336	4,435	42	7,336	4,477	11,813	1,269	1991	2018
	700 Burning Tree Rd	Industrial	—	5,001	4,915	—	5,001	4,915	9,916	869	1991	2018
Garner, North Carolina
	Greenfield North 600	Industrial	—	519	2,448	536	520	2,983	3,503	1,224	2006	2011

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Greenfield North 700	Industrial	—	407	2,054	295	408	2,348	2,756	919	2007	2011
	Greenfield North 800	Industrial	—	381	5,772	858	383	6,628	7,011	2,232	2004	2011
	Greenfield North 900	Industrial	—	367	5,792	1,764	370	7,553	7,923	2,746	2007	2011
	Greenfield North 1000	Industrial	—	1,897	6,026	96	1,979	6,040	8,019	2,323	2016	2016
	Greenfield North 1001	Industrial	—	2,517	5,494	2,523	2,610	7,924	10,534	2,462	2017	2017
	N. Greenfield Pkwy	Grounds	—	189	222	10	189	232	421	259	n/a	2015
	Greenfield North 1100	Industrial	—	1,870	5,623	(1)	1,870	5,622	7,492	514	2020	2020
	Greenfield North 1201	Industrial	—	3,462	6,867	3,292	3,462	10,159	13,621	967	2020	2020
	Greenfield North 1300	Industrial	—	6,112	—	—	6,112	—	6,112	217	2021	2021
Geneva, Illinois
	1800 Averill Road	Industrial	—	3,189	11,582	7,640	4,778	17,633	22,411	6,317	2013	2011
Gibsonton, Florida
	Tampa Regional Ind Park 13111	Industrial	—	10,547	8,662	2,011	10,547	10,673	21,220	3,515	2017	2017
	Tampa Regional Ind Park 13040	Industrial	—	13,184	13,475	2,987	13,184	16,462	29,646	3,468	2018	2018
Glendale Heights, Illinois
	990 North Avenue	Industrial	—	12,144	5,933	3,854	12,324	9,607	21,931	1,850	2018	2018
Grand Prairie, Texas
	Grand Lakes 4003	Industrial	—	3,206	9,124	14,038	4,361	22,007	26,368	6,487	2017	2006
	Grand Lakes 3953	Industrial	—	11,853	11,851	13,674	11,853	25,525	37,378	16,448	2008	2008
	1803 W. Pioneer Parkway	Industrial	—	3,158	15,389	97	3,158	15,486	18,644	5,203	2008	2011
	Grand Lakes 4053	Industrial	—	2,468	6,599	1,242	2,468	7,841	10,309	1,656	2018	2018
Groveport, Ohio
	Groveport Commerce Center 6200	Industrial	—	1,049	5,123	2,816	1,049	7,939	8,988	4,685	1999	1999
	Groveport Commerce Center 6300	Industrial	—	510	2,395	2,321	510	4,716	5,226	2,507	2000	2000
	Groveport Commerce Center 6295	Industrial	—	435	5,435	2,160	435	7,595	8,030	3,983	2000	2000
	Groveport Commerce Center 6405	Industrial	—	1,207	10,322	992	1,207	11,314	12,521	4,780	2005	2005
	RGLP North 2842	Industrial	—	5,680	22,366	843	5,680	23,209	28,889	6,905	2008	2010
Hebron, Kentucky
	Hebron 2305	Industrial	—	3,789	10,797	18,591	3,789	29,388	33,177	20,695	2006	2006
	Hebron 2285	Industrial	—	6,790	6,730	5,138	6,813	11,845	18,658	8,333	2007	2007
	Skyport 2350	Industrial	—	898	5,777	1,423	1,428	6,670	8,098	2,415	1997	2010
	Skyport 2250	Industrial	—	1,190	8,680	1,714	1,393	10,191	11,584	3,562	1999	2010
	Skyport 2245	Industrial	—	1,714	8,305	1,167	1,714	9,472	11,186	3,637	2000	2010
	Skyport 2265	Industrial	—	1,153	6,038	846	1,153	6,884	8,037	2,783	2006	2010
	Southpark 1990	Industrial	—	366	7,701	2	366	7,703	8,069	1,373	2016	2016
Hialeah, Florida
	Countyline Corporate Park 3740	Industrial	—	18,934	11,560	45	18,934	11,605	30,539	3,331	2018	2018

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Countyline Corporate Park 3780	Industrial	—	21,445	22,144	166	21,445	22,310	43,755	4,379	2018	2018
	Countyline Corporate Park 3760	Industrial	—	32,802	52,633	153	32,802	52,786	85,588	8,949	2018	2018
	Countyline Corporate Park 3840	Industrial	—	15,906	14,953	266	15,906	15,219	31,125	3,202	2018	2018
	Countyline Corporate Park 3850	Industrial	—	18,270	17,567	179	18,270	17,746	36,016	2,549	2019	2019
	Countyline Corporate Park 3870	Industrial	—	17,605	17,068	91	17,605	17,159	34,764	2,408	2019	2019
Hialeah Gardens, Florida
	Miami Ind Logistics Ctr 15002	Industrial	—	10,671	14,071	1,828	10,671	15,899	26,570	4,130	2017	2017
	Miami Ind Logistics Ctr 14802	Industrial	—	10,800	14,236	3,635	10,800	17,871	28,671	4,574	2017	2017
	Miami Ind Logistics Ctr 10701	Industrial	—	13,048	17,204	2,366	13,048	19,570	32,618	5,432	2017	2017
Hopkins, Minnesota
	Cornerstone 401	Industrial	—	1,454	7,623	2,462	1,454	10,085	11,539	6,062	1996	1997
Houston, Texas
	Point North 8210	Industrial	—	3,125	2,178	2,293	3,125	4,471	7,596	3,373	2008	2008
	Point North 8120	Industrial	—	4,210	2,108	4,616	4,581	6,353	10,934	3,266	2013	2013
	Point North 8111	Industrial	—	3,957	15,093	642	3,957	15,735	19,692	5,631	2014	2014
	Point North 8411	Industrial	—	5,333	6,946	1,271	5,333	8,217	13,550	3,246	2015	2015
	Westland 8323	Industrial	—	4,183	2,574	3,675	4,417	6,015	10,432	4,591	2008	2008
	Westland 13788	Industrial	—	3,246	8,338	989	3,246	9,327	12,573	5,314	2011	2011
	Gateway Northwest 20710	Industrial	—	7,204	8,028	4,167	7,204	12,195	19,399	5,217	2014	2014
	Gateway Northwest 20702	Industrial	—	2,981	3,122	1,173	2,981	4,295	7,276	1,896	2014	2014
	Gateway Northwest 20502	Industrial	—	2,987	5,342	21	2,987	5,363	8,350	2,206	2016	2016
	22008 N Berwick Drive	Industrial	—	2,981	4,949	905	2,981	5,854	8,835	1,611	2002	2015
	Gateway Northwest 20510	Industrial	—	6,787	11,501	792	6,787	12,293	19,080	3,098	2018	2018
	Point North 8221	Industrial	—	6,503	10,357	1,441	6,503	11,798	18,301	2,117	2019	2019
Huntley, Illinois
	14100 Weber Drive	Industrial	—	7,539	34,069	78	7,539	34,147	41,686	8,068	2015	2015
Hutchins, Texas
	801 Wintergreen Road	Industrial	—	2,288	9,115	1,482	2,288	10,597	12,885	3,926	2006	2006
	Prime Pointe 1005	Industrial	—	5,865	19,420	59	5,865	19,479	25,344	5,340	2016	2016
	Prime Pointe 1015	Industrial	—	8,356	16,319	2,257	8,170	18,762	26,932	3,704	2018	2018
Indianapolis, Indiana
	Park 100 5550	Industrial	—	1,171	12,611	678	1,424	13,036	14,460	8,704	1997	1995
	Park 100 Bldg 121 Land Lease	Grounds	—	3	—	—	3	—	3	—	n/a	2003
	West 79th St. Parking Lot LL	Grounds	—	164	—	—	164	—	164	—	n/a	2006
	North Airport Park 7750	Industrial	—	1,620	4,279	810	1,620	5,089	6,709	2,168	1997	2010
	Park 100 5010	Industrial	—	621	1,687	568	621	2,255	2,876	1,144	1984	2010
	Park 100 5134	Industrial	—	578	1,904	299	578	2,203	2,781	867	1984	2010

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Park 100 5302	Industrial	—	384	998	325	384	1,323	1,707	604	1989	2010
	Park 100 5303	Industrial	—	384	1,515	348	384	1,863	2,247	772	1989	2010
	Park 100 7225	Industrial	—	1,037	13,332	998	1,037	14,330	15,367	5,667	1996	2010
	Park 100 4925	Industrial	—	1,152	8,569	2,319	1,152	10,888	12,040	4,471	2000	2010
	8711 North River Crossing Blvd	HQ/Core Portfolio	17,387	1,211	24,259	70	1,211	24,329	25,540	2,108	2020	2020
Katy, Texas
	3900 Peek Road	Industrial	—	8,584	14,385	4,645	8,584	19,030	27,614	1,351	2020	2020
Kent, Washington
	21214 66th Ave South	Industrial	—	3,813	9,767	—	3,813	9,767	13,580	662	2016	2020
Kutztown, Pennsylvania
	West Hills 9645	Industrial	—	15,340	47,981	623	15,340	48,604	63,944	16,192	2014	2014
	West Hills 9677	Industrial	—	5,218	13,029	68	5,218	13,097	18,315	4,482	2015	2015
La Mirada, California
	16501 Trojan Way	Industrial	—	23,503	30,945	225	23,503	31,170	54,673	11,572	2002	2012
	16301 Trojan Way	Industrial	—	39,645	22,164	45	39,645	22,209	61,854	3,615	2018	2018
Lancaster, Texas
	Lancaster 2820	Industrial	—	9,786	22,270	8	9,786	22,278	32,064	4,953	2018	2018
LaPorte, Texas
	Bayport Container Lot	Grounds	—	3,334	—	1,041	4,375	—	4,375	—	n/a	2010
Lathrop, California
	16825 Murphy Parkway	Industrial	—	10,121	20,959	—	10,121	20,959	31,080	—	2021	2021
Lawrenceville, Georgia
	175 Alcovy Industrial Road	Industrial	—	1,480	2,935	45	1,487	2,973	4,460	1,268	2004	2004
Lebanon, Indiana
	Lebanon Park 185	Industrial	—	177	8,664	1,554	177	10,218	10,395	6,116	2000	1997
	Lebanon Park 322	Industrial	—	340	6,230	1,479	340	7,709	8,049	4,360	1999	1999
	Lebanon Park 500	Industrial	—	816	10,741	2,471	815	13,213	14,028	5,821	2005	2005
	Lebanon Park 210	Industrial	—	156	3,427	109	156	3,536	3,692	1,379	1996	2010
	Lebanon Park 311	Industrial	—	349	7,604	767	350	8,370	8,720	3,380	1998	2010
Lebanon, Tennessee
	Park 840 West 14840	Industrial	—	2,367	8,449	4,907	2,367	13,356	15,723	4,897	2006	2006
	Park 840 East 1009	Industrial	—	7,731	12,462	1,782	7,852	14,123	21,975	7,216	2013	2013
Linden, New Jersey
	Legacy Commerce Center 801	Industrial	—	22,134	23,645	2,198	22,134	25,843	47,977	6,905	2014	2014

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Legacy Commerce Center 301	Industrial	—	6,933	8,575	335	6,933	8,910	15,843	2,845	2015	2015
	Legacy Commerce Center 901	Industrial	—	25,935	19,806	2,311	25,937	22,115	48,052	6,802	2016	2016
Lithia Springs, Georgia
	2601 Skyview Drive	Industrial	—	4,282	9,534	58	4,282	9,592	13,874	2,816	2016	2017
Lockport, Illinois
	Lockport 16328	Industrial	—	3,339	17,446	460	3,339	17,906	21,245	3,659	2016	2017
	Lockport 16410	Industrial	—	2,677	16,117	285	2,677	16,402	19,079	3,249	2016	2017
	Lockport 16508	Industrial	—	4,520	17,472	2,616	4,520	20,088	24,608	4,362	2017	2017
Lockbourne, Ohio
	Creekside 2120	Industrial	—	2,868	15,406	1,031	2,868	16,437	19,305	6,312	2008	2012
	Creekside 4555	Industrial	—	1,947	11,453	294	1,947	11,747	13,694	4,339	2005	2012
Lodi, New Jersey
	65 Industrial Road	Industrial	—	20,063	899	40	20,063	939	21,002	106	1965	2020
Logan Township, New Jersey
	1130 Commerce Boulevard	Industrial	—	3,770	18,699	1,158	3,770	19,857	23,627	6,240	2002	2013
Long Beach, California
	3700 Cover Street	Industrial	—	7,280	6,954	—	7,280	6,954	14,234	3,464	2012	2013
	189 W Victoria St	Industrial	—	16,905	2,373	—	16,905	2,373	19,278	—	1979	2021
Los Angeles, California
	13344 S Main Street	Industrial	—	39,678	23,978	—	39,678	23,978	63,656	403	2021	2021
Lynwood, California
	2700 East Imperial Highway	Industrial	—	15,230	17,865	56	15,230	17,921	33,151	6,338	1999	2011
	11600 Alameda Street	Industrial	—	10,705	10,979	1,949	10,958	12,675	23,633	2,503	2017	2017
Manteca, California
	600 Spreckels Avenue	Industrial	—	4,851	18,985	416	4,851	19,401	24,252	7,117	1999	2012
Maple Grove, Minnesota
	Arbor Lakes 10500	Industrial	—	4,803	9,891	4,090	4,912	13,872	18,784	1,975	2018	2018
	Arbor Lakes 10501	Industrial	—	5,363	17,713	85	5,363	17,798	23,161	2,727	2019	2019
	Park 81 10750	Industrial	—	3,971	9,262	1	3,971	9,263	13,234	1,143	2019	2019
McDonough, Georgia
	Liberty Distribution 120	Industrial	—	615	8,117	733	615	8,850	9,465	4,925	1997	1999
	Liberty Distribution 250	Industrial	—	2,273	10,910	7,946	3,416	17,713	21,129	8,521	2001	2001

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Mechanicsburg, Pennsylvania
	500 Independence Avenue	Industrial	—	4,494	15,007	883	4,499	15,885	20,384	5,099	2008	2013
Medley, Florida
	Miami 27 Business Park 10300	Industrial	—	34,758	16,913	—	34,758	16,913	51,671	298	2021	2021
	Miami 27 Business Park 10310	Industrial	—	15,275	11,412	—	15,275	11,412	26,687	255	2021	2021
Melrose Park, Illinois
	1600 North 25th Avenue	Industrial	—	5,907	17,516	299	5,907	17,815	23,722	7,744	2000	2010
Miami, Florida
	9601 NW 112 Avenue	Industrial	—	11,626	14,651	8	11,626	14,659	26,285	5,599	2003	2013
Minooka, Illinois
	Midpoint Distribution 801	Industrial	—	6,282	30,802	627	6,282	31,429	37,711	9,838	2008	2013
Modesto, California
	1000 Oates Court	Industrial	—	10,115	16,944	428	10,115	17,372	27,487	8,440	2002	2012
Monroe Twp., New Jersey
	773 Cranbury South River Road	Industrial	—	3,001	36,527	199	3,001	36,726	39,727	7,609	2016	2017
Moreno Valley, California
	17791 Perris Boulevard	Industrial	—	67,806	74,531	38	67,806	74,569	142,375	14,331	2018	2017
	15810 Heacock Street	Industrial	—	9,727	18,882	2,770	9,727	21,652	31,379	3,389	2017	2017
	24975 Nandina Ave	Industrial	—	13,322	17,214	214	13,322	17,428	30,750	2,172	2019	2019
	24960 San Michele	Industrial	—	8,336	13,699	—	8,336	13,699	22,035	2,430	2019	2019
Morgans Point, Texas
	Barbours Cut 1200	Industrial	—	889	7,140	90	889	7,230	8,119	2,661	2004	2010
	Barbours Cut 1000	Industrial	—	868	7,311	168	868	7,479	8,347	2,756	2005	2010
Morrisville, North Carolina
	Perimeter Park 3000	Industrial	—	482	1,982	1,688	491	3,661	4,152	2,018	1989	1999
	Perimeter Park 2900	Industrial	—	235	1,314	1,644	241	2,952	3,193	1,662	1990	1999
	Perimeter Park 2800	Industrial	—	777	4,151	1,511	791	5,648	6,439	3,039	1992	1999
	Perimeter Park 2700	Industrial	—	662	1,081	2,270	662	3,351	4,013	1,761	2001	2001
	Woodlake 100	Industrial	—	633	3,183	2,080	1,132	4,764	5,896	2,824	1994	1999
	Woodlake 101	Industrial	—	615	3,868	530	615	4,398	5,013	2,411	1997	1999
	Woodlake 200	Industrial	—	357	3,688	932	357	4,620	4,977	2,539	1999	1999
	Woodlake 501	Industrial	—	640	5,477	1,032	640	6,509	7,149	3,283	1999	1999
	Woodlake 400	Industrial	—	390	1,055	443	390	1,498	1,888	685	2004	2004

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Myerstown, Pennsylvania
	Central Logistics Park 100	Industrial	—	16,936	29,564	83	16,936	29,647	46,583	2,742	2020	2020
	Central Logistics Park 60	Industrial	—	16,058	26,546	—	16,058	26,546	42,604	807	2021	2021
Naperville, Illinois
	1835 W. Jefferson	Industrial	—	2,209	7,921	1,651	2,213	9,568	11,781	4,182	2005	2003
	175 Ambassador Drive	Industrial	—	3,822	11,252	11	3,822	11,263	15,085	4,540	2006	2010
	1860 West Jefferson	Industrial	—	7,016	35,581	1,113	7,016	36,694	43,710	16,272	2000	2012
Nashville, Tennessee
	Airpark East 800	Industrial	—	1,564	2,129	1,985	1,564	4,114	5,678	1,814	2002	2002
	Nashville Business 3300	Industrial	—	936	4,773	1,914	936	6,687	7,623	3,822	1997	1999
	Nashville Business 3438	Industrial	—	3,048	8,165	2,221	3,048	10,386	13,434	4,758	2005	2005
	Four-Forty Business 700	Industrial	—	938	6,354	706	938	7,060	7,998	4,036	1997	1999
	Four-Forty Business 684	Industrial	—	1,812	6,561	2,207	1,812	8,768	10,580	4,923	1998	1999
	Four-Forty Business 782	Industrial	—	1,522	4,820	1,796	1,522	6,616	8,138	3,705	1997	1999
	Four-Forty Business 784	Industrial	—	471	2,153	1,698	471	3,851	4,322	2,404	1999	1999
	Four-Forty Business 701	Industrial	—	997	4,763	107	997	4,870	5,867	1,838	1996	2010
Newark, New Jersey
	429 Delancy Street	Industrial	—	60,393	85,359	959	60,486	86,225	146,711	8,090	2019	2019
	740-768 Doremus Avenue	Grounds	—	106,552	—	—	106,552	—	106,552	—	n/a	2021
Northlake, Illinois
	Northlake Distribution 635	Industrial	—	5,721	9,008	1,574	5,721	10,582	16,303	4,991	2002	2002
	Northlake Distribution 599	Industrial	—	2,823	5,685	3,400	2,823	9,085	11,908	2,988	2014	2006
	200 Champion Way	Industrial	—	3,554	11,528	832	3,554	12,360	15,914	4,576	1997	2011
Oakland, California
	1905 Dennison Street	Industrial	15,063	12,118	20,518	2	12,118	20,520	32,638	1,131	1956	2020
	955 Kennedy Street	Industrial	9,519	13,053	9,764	—	13,053	9,764	22,817	736	1966	2020
Ontario, California
	1656 Bon View	Industrial	—	9,551	250	—	9,551	250	9,801	23	1991	2021
	2151 S Vintage Ave	Industrial	—	105,589	82,630	—	105,589	82,630	188,219	1,828	1991	2021
Orange, California
	210 W Baywood Ave	Industrial	—	5,066	4,515	1,816	5,066	6,331	11,397	1,049	1989	2018
Orlando, Florida
	2502 Lake Orange	Industrial	—	2,331	3,235	319	2,331	3,554	5,885	1,698	2003	2003

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Parksouth Distribution 2500	Industrial	—	565	4,360	1,714	570	6,069	6,639	3,287	1996	1999
	Parksouth Distribution 2490	Industrial	—	493	4,170	654	498	4,819	5,317	2,764	1997	1999
	Parksouth Distribution 2491	Industrial	—	593	3,150	1,963	597	5,109	5,706	2,719	1998	1999
	Parksouth Distribution 9600	Industrial	—	649	4,111	1,128	653	5,235	5,888	3,091	1997	1999
	Parksouth Distribution 9550	Industrial	—	1,030	4,207	3,521	1,035	7,723	8,758	3,813	1999	1999
	Parksouth Distribution 2481	Industrial	—	725	2,245	1,567	730	3,807	4,537	2,142	2000	2000
	Parksouth Distribution 9592	Industrial	—	623	1,646	99	623	1,745	2,368	845	2003	2003
	Crossroads Business Park 301	Industrial	—	1,653	2,804	4,070	1,653	6,874	8,527	2,891	2006	2006
	Crossroads Business Park 601	Industrial	—	2,701	3,571	2,059	2,701	5,630	8,331	3,244	2007	2007
	7133 Municipal Drive	Industrial	—	5,817	6,820	29	5,817	6,849	12,666	1,296	2018	2018
Otsego, Minnesota
	Gateway North 6301	Industrial	—	1,543	6,515	6,009	2,783	11,284	14,067	2,828	2017	2015
	Gateway North 6651	Industrial	—	3,667	16,249	129	3,748	16,297	20,045	4,548	2015	2015
	Gateway North 6701	Industrial	—	3,266	10,996	237	3,374	11,125	14,499	3,219	2014	2014
	Gateway North 6651	Grounds	—	1,521	—	—	1,521	—	1,521	536	n/a	2016
Pasadena, Texas
	Interport 13001	Industrial	—	5,715	30,961	781	5,655	31,802	37,457	10,451	2007	2013
	Bayport 4035	Industrial	—	3,772	10,255	188	3,772	10,443	14,215	2,264	2008	2017
	Bayport 4331	Industrial	—	7,638	30,213	125	7,638	30,338	37,976	6,970	2008	2017
Perris, California
	3500 Indian Avenue	Industrial	—	16,210	27,759	8,884	18,716	34,137	52,853	12,137	2015	2015
	3300 Indian Avenue	Industrial	—	39,012	43,280	1,870	38,989	45,173	84,162	16,181	2017	2017
	4323 Indian Ave	Industrial	—	20,525	30,125	470	20,525	30,595	51,120	4,644	2019	2019
	4375 N Perris Blvd	Industrial	—	26,830	69,527	57	26,830	69,584	96,414	6,415	2020	2020
	4501 Patterson Avenue	Industrial	—	28,211	49,869	2,621	28,211	52,490	80,701	5,042	2020	2020
	728 W. Rider Street	Industrial	—	69,056	62,459	—	69,056	62,459	131,515	616	2021	2021
Piscataway, New Jersey
	141 Circle Drive North	Grounds	—	5,237	—	29	5,266	—	5,266	—	n/a	2020
	150 Old New Brunswick Road	Industrial	—	52,134	45,883	—	52,134	45,883	98,017	1,090	2021	2021
	600 Ridge Road	Industrial	—	102,080	63,847	—	102,080	63,847	165,927	114	2019	2021
Plymouth, Minnesota
	Waterford Innovation Center	Industrial	—	2,689	9,897	113	2,689	10,010	12,699	2,221	2017	2017
Pomona, California
	1589 E 9th St.	Industrial	—	7,386	14,745	652	7,386	15,397	22,783	3,552	2016	2017

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	468 S Humane Way	Industrial	—	11,959	13,044	—	11,959	13,044	25,003	125	2017	2021
	1941 Mission Blvd	Industrial	—	7,405	8,249	—	7,405	8,249	15,654	—	2017	2021
	1943 Mission Blvd	Industrial	—	8,364	10,203	—	8,364	10,203	18,567	—	2017	2021
Perth Amboy, New Jersey
	ePort 960	Industrial	—	14,425	23,463	2,014	14,425	25,477	39,902	4,674	2017	2017
	ePort 980	Industrial	—	43,778	87,019	273	43,778	87,292	131,070	15,950	2017	2017
	ePort 1000	Industrial	—	19,726	41,229	1,040	19,726	42,269	61,995	7,244	2017	2017
	Steel Run Logistics Ctr Bldg 1	Industrial	—	31,987	23,948	388	32,318	24,005	56,323	2,277	2020	2020
	Steel Run Logistics Ctr Bldg 2	Industrial	—	73,056	68,473	4,145	73,974	71,700	145,674	4,412	2020	2020
Plainfield, Indiana
	Plainfield 1551	Industrial	—	1,097	7,772	10,831	1,097	18,603	19,700	8,380	2015	2000
	Plainfield 1581	Industrial	—	1,094	7,279	2,506	1,094	9,785	10,879	5,013	2000	2000
	Plainfield 2209	Industrial	—	2,016	8,717	2,639	2,016	11,356	13,372	5,334	2002	2002
	Plainfield 1390	Industrial	—	998	5,817	986	998	6,803	7,801	2,887	2004	2004
	Plainfield 2425	Industrial	—	1,917	10,908	1,979	1,918	12,886	14,804	5,052	2006	2006
	Home Depot trailer parking lot	Grounds	—	310	—	—	310	—	310	—	2018	2018
	AllPoints Midwest Bldg. 1	Industrial	—	6,692	51,152	2,056	6,692	53,208	59,900	12,143	2008	2016
	AllPoints Midwest Bldg. 4	Industrial	—	4,111	9,943	22	4,053	10,023	14,076	6,293	2012	2013
	AllPoints Midwest Bldg. 10	Industrial	—	2,867	22,335	—	2,867	22,335	25,202	1,017	2018	2021
Pompano Beach, Florida
	Atlantic Business 1700	Industrial	—	2,743	8,821	1,849	2,743	10,670	13,413	4,259	2000	2010
	Atlantic Business 1800	Industrial	—	2,308	8,381	564	2,308	8,945	11,253	3,439	2001	2010
	Atlantic Business 1855	Industrial	—	2,395	8,162	234	2,395	8,396	10,791	3,107	2001	2010
	Atlantic Business 2022	Industrial	—	1,563	5,885	41	1,563	5,926	7,489	2,190	2002	2010
	Atlantic Business 1914	Industrial	—	1,589	5,332	31	1,589	5,363	6,952	1,982	2002	2010
	Atlantic Business 2003	Industrial	—	1,716	5,918	831	1,716	6,749	8,465	2,876	2002	2010
	Atlantic Business 1901	Industrial	—	1,729	6,199	381	1,729	6,580	8,309	2,397	2004	2010
	Atlantic Business 2200	Industrial	—	1,732	6,012	843	1,732	6,855	8,587	2,802	2004	2010
	Atlantic Business 2100	Industrial	—	1,723	6,130	141	1,723	6,271	7,994	2,306	2002	2010
	Atlantic Business 2201	Industrial	—	1,901	4,050	121	1,901	4,171	6,072	1,534	2005	2010
	Atlantic Business 2101	Industrial	—	1,790	6,682	122	1,791	6,803	8,594	2,479	2004	2010
	Atlantic Business 2103	Industrial	—	1,400	3,628	118	1,401	3,745	5,146	1,412	2005	2010
	Copans Business Park 1571	Industrial	—	1,482	3,646	367	1,482	4,013	5,495	1,480	1989	2010
	Copans Business Park 1521	Industrial	—	1,543	3,101	309	1,544	3,409	4,953	1,305	1989	2010
	Park Central 3250	Industrial	—	1,463	1,997	10	1,463	2,007	3,470	799	1999	2010

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	Park Central 3760	Industrial	—	2,685	2,491	1,682	2,685	4,173	6,858	1,647	1995	2010
	Pompano Commerce Center 2901	Industrial	—	2,177	3,896	789	2,178	4,684	6,862	1,758	2010	2010
	Pompano Commerce Center 3101	Industrial	—	2,905	4,095	571	2,916	4,655	7,571	1,805	2015	2015
	Pompano Commerce Center 2951	Industrial	—	2,177	4,465	37	2,178	4,501	6,679	1,720	2010	2010
	Pompano Commerce Center 3151	Industrial	—	2,897	3,939	121	2,908	4,049	6,957	1,369	2015	2015
	Sample 95 Business Park 3101	Industrial	—	2,860	6,115	565	2,860	6,680	9,540	2,464	1999	2010
	Sample 95 Business Park 3001	Industrial	—	2,568	6,135	121	2,568	6,256	8,824	2,264	1999	2011
	Sample 95 Business Park 3035	Industrial	—	3,218	4,288	411	3,218	4,699	7,917	1,759	1999	2011
	Sample 95 Business Park 3135	Industrial	—	1,463	4,890	858	1,463	5,748	7,211	2,441	1999	2010
	Copans Business Park 1551	Industrial	—	1,608	3,146	667	1,609	3,812	5,421	1,636	1989	2011
	Copans Business Park 1501	Industrial	—	1,723	3,367	365	1,723	3,732	5,455	1,339	1989	2011
	Park Central 1700	Industrial	—	3,584	6,361	863	3,585	7,223	10,808	2,760	1998	2011
	Park Central 2101	Industrial	—	2,336	5,756	1,135	2,337	6,890	9,227	2,736	1998	2011
	Park Central 3300	Industrial	—	1,417	2,846	434	1,417	3,280	4,697	1,309	1996	2011
	Park Central 100	Industrial	—	1,300	1,992	660	1,300	2,652	3,952	1,083	1998	2011
	Park Central 1300	Industrial	—	2,113	3,021	2,178	2,113	5,199	7,312	2,484	1997	2011
	Copans 95 1731	Industrial	—	3,511	5,889	1,749	3,518	7,631	11,149	864	2019	2019
Port Wentworth, Georgia
	100 Logistics Way	Industrial	4,019	1,975	11,043	2,283	2,005	13,296	15,301	5,561	2006	2006
	500 Expansion Boulevard	Industrial	1,903	649	5,842	144	649	5,986	6,635	2,202	2006	2008
	400 Expansion Boulevard	Industrial	—	1,636	13,186	2,798	1,636	15,984	17,620	5,223	2007	2008
	605 Expansion Boulevard	Industrial	—	1,615	6,852	5,273	1,615	12,125	13,740	2,833	2020	2008
	405 Expansion Boulevard	Industrial	—	535	3,192	50	535	3,242	3,777	1,088	2008	2009
	600 Expansion Boulevard	Industrial	—	1,248	9,392	33	1,248	9,425	10,673	3,139	2008	2009
	602 Expansion Boulevard	Industrial	—	1,840	10,981	88	1,859	11,050	12,909	3,617	2009	2009
Raleigh, North Carolina
	Walnut Creek 540	Industrial	—	419	1,651	1,054	419	2,705	3,124	1,287	2001	2001
	Walnut Creek 4000	Industrial	—	456	2,078	492	456	2,570	3,026	1,287	2001	2001
	Walnut Creek 3080	Industrial	—	679	2,766	1,534	679	4,300	4,979	2,055	2001	2001
	Walnut Creek 3070	Industrial	—	913	1,187	1,500	913	2,687	3,600	1,198	2004	2004
	Walnut Creek 3071	Industrial	—	1,718	2,746	618	1,718	3,364	5,082	2,321	2008	2008
Rancho Cucamonga, California
	9189 Utica Ave	Industrial	—	5,794	12,646	265	5,794	12,911	18,705	3,278	2016	2017
	10415 8th Street	Industrial	—	8,641	9,790	—	8,641	9,790	18,431	144	2021	2021

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
Rancho Dominguez, California
	18700 Laurel Park Rd	Industrial	—	8,080	2,987	456	8,438	3,085	11,523	913	1971	2017
Redlands, California
	2300 W. San Bernadino Ave	Industrial	—	20,031	17,968	1,911	20,031	19,879	39,910	8,710	2001	2013
	9180 Alabama St.	Industrial	—	52,999	52,226	—	52,999	52,226	105,225	1,958	2021	2021
Richmond, California
	2041 Factory Street	Industrial	—	8,132	22,266	—	8,132	22,266	30,398	2,723	2000	2019
Romeoville, Illinois
	875 W. Crossroads Parkway	Industrial	—	4,113	7,274	1,685	4,113	8,959	13,072	3,665	2005	2005
	Crossroads 1255	Industrial	—	2,350	9,217	3,090	2,350	12,307	14,657	5,250	1999	2010
	Crossroads 801	Industrial	—	2,622	6,184	305	2,622	6,489	9,111	4,522	2009	2010
	1341-1343 Enterprise Drive	Industrial	—	3,076	12,150	394	3,076	12,544	15,620	2,930	2015	2015
	50-56 N. Paragon	Industrial	—	3,985	5,433	1,212	3,985	6,645	10,630	2,174	2017	2017
	Airport Logistics Center I	Industrial	—	9,133	17,187	5,843	11,282	20,881	32,163	2,998	2019	2019
Roseville, Minnesota
	2215 Highway 36 West	Industrial	—	1,132	5,931	1,283	1,132	7,214	8,346	2,852	1998	2011
	2420 Long Lake Road	Industrial	—	939	4,135	1,078	939	5,213	6,152	1,983	2000	2011
San Leandro, California
	1919 Williams Street	Grounds	—	27,739	2,038	493	27,739	2,531	30,270	574	n/a	2019
Santa Fe Springs, California
	13215 Cambridge Street	Industrial	—	3,558	10,167	—	3,558	10,167	13,725	122	2021	2021
Savannah, Georgia
	198 Gulfstream	Industrial	—	475	3,650	956	476	4,605	5,081	1,706	1997	2006
	194 Gulfstream	Industrial	—	358	2,359	285	358	2,644	3,002	1,058	1998	2006
	190 Gulfstream	Industrial	—	599	4,134	372	599	4,506	5,105	1,849	1999	2006
	250 Grange Road	Industrial	—	771	7,776	51	771	7,827	8,598	3,130	2002	2006
	248 Grange Road	Industrial	—	529	3,180	8	529	3,188	3,717	1,278	2002	2006
	318 Grange Road	Industrial	—	759	4,131	892	759	5,023	5,782	1,900	2001	2006
	246 Grange Road	Industrial	2,096	972	7,486	744	972	8,230	9,202	3,123	2006	2006
	163 Portside Court	Industrial	—	5,260	7,746	260	5,260	8,006	13,266	3,212	2004	2006
	151 Portside Court	Industrial	—	840	7,117	1,398	790	8,565	9,355	3,298	2003	2006
	175 Portside Court	Industrial	4,206	3,740	13,344	1,619	4,229	14,474	18,703	5,831	2005	2006

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	235 Jimmy Deloach Parkway	Industrial	—	934	7,201	1,277	893	8,519	9,412	3,529	2001	2006
	239 Jimmy Deloach Parkway	Industrial	—	934	6,424	732	934	7,156	8,090	2,961	2001	2006
	246 Jimmy Deloach Parkway	Industrial	1,274	863	4,878	33	806	4,968	5,774	1,999	2006	2006
	200 Logistics Way	Industrial	2,955	878	9,274	1,337	883	10,606	11,489	3,513	2006	2008
	2509 Dean Forest Road	Industrial	—	2,080	5,987	2,477	2,602	7,942	10,544	3,236	2008	2011
	276 Jimmy Deloach Parkway	Industrial	—	6,772	6,405	327	6,772	6,732	13,504	1,211	2019	2019
Sea Brook, Texas
	Bayport Logistics 5300	Industrial	—	1,578	11,361	195	1,577	11,557	13,134	4,304	2009	2010
	Bayport Logistics 5801	Industrial	—	5,116	7,663	251	5,116	7,914	13,030	3,021	2015	2015
Shakopee, Minnesota
	3880 4th Avenue East	Industrial	—	1,023	6,102	36	1,049	6,112	7,161	2,083	2000	2011
	Gateway South 2301	Industrial	—	2,648	11,898	91	2,647	11,990	14,637	2,881	2016	2016
	Gateway South 2101	Industrial	—	4,273	16,252	90	4,273	16,342	20,615	3,406	2017	2017
Sharonville, Ohio
	Mosteller 11400	Industrial	—	408	2,705	3,773	408	6,478	6,886	3,190	1997	1997
South Brunswick, New Jersey
	10 Broadway Road	Industrial	—	15,168	13,916	1,226	15,168	15,142	30,310	4,445	2017	2017
Stafford, Texas
	10225 Mula Road	Industrial	—	3,502	2,656	3,845	3,502	6,501	10,003	3,987	2008	2008
Sterling, Virginia
	TransDulles Centre 22601	Industrial	—	1,700	5,001	602	1,700	5,603	7,303	3,022	2004	2016
	TransDulles Centre 22620	Industrial	—	773	1,957	16	773	1,973	2,746	1,063	1999	2016
	TransDulles Centre 22626	Industrial	—	1,544	3,874	321	1,544	4,195	5,739	2,198	1999	2016
	TransDulles Centre 22633	Industrial	—	702	1,586	34	702	1,620	2,322	861	2004	2016
	TransDulles Centre 22635	Industrial	—	1,753	4,182	17	1,753	4,199	5,952	2,270	1999	2016
	TransDulles Centre 22645	Industrial	—	1,228	3,411	379	1,228	3,790	5,018	1,985	2005	2016
	TransDulles Centre 22714	Industrial	—	3,973	3,535	1,251	3,973	4,786	8,759	3,045	2007	2007
	TransDulles Centre 22750	Industrial	—	2,068	4,970	357	2,068	5,327	7,395	2,802	2003	2016
	TransDulles Centre 22815	Industrial	—	7,685	5,713	414	7,685	6,127	13,812	3,634	2000	2016
	TransDulles Centre 22825	Industrial	—	1,758	4,951	305	1,758	5,256	7,014	2,761	1997	2016
	TransDulles Centre 22879	Industrial	—	2,828	8,425	399	2,828	8,824	11,652	4,648	1989	2016
	TransDulles Centre 22880	Industrial	—	2,311	4,922	10	2,311	4,932	7,243	2,785	1998	2016
	TransDulles Centre 46213	Industrial	—	5,912	3,965	462	5,912	4,427	10,339	2,105	2015	2015
Sumner, Washington
	13501 38th Street East	Industrial	—	16,032	4,954	332	16,032	5,286	21,318	5,277	2005	2007
	4800 E Valley Highway	Industrial	—	12,567	21,838	—	12,567	21,838	34,405	3,707	2004	2019

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
	1510 Puyallup Street	Industrial	—	12,040	13,225	—	12,040	13,225	25,265	175	2021	2021
Suwanee, Georgia
	Horizon Business 90	Industrial	—	153	1,143	221	153	1,364	1,517	497	2002	2010
	Horizon Business 225	Industrial	—	388	2,048	703	389	2,750	3,139	1,289	1990	2010
	Horizon Business 250	Industrial	—	1,381	5,660	1,172	1,381	6,832	8,213	2,848	1997	2010
	Horizon Business 70	Industrial	—	813	3,397	1,015	812	4,413	5,225	1,779	1998	2010
	Horizon Business 2780	Industrial	—	972	5,576	2,128	972	7,704	8,676	2,718	1997	2010
	Horizon Business 25	Industrial	—	615	2,390	2,007	614	4,398	5,012	2,008	1999	2010
	Horizon Business 2790	Industrial	—	780	4,952	—	780	4,952	5,732	1,899	2006	2010
	1000 Northbrook Parkway	Industrial	—	643	2,974	729	643	3,703	4,346	1,618	1986	2010
Tampa, Florida
	Fairfield Distribution 8640	Industrial	—	483	2,359	1,080	487	3,435	3,922	1,733	1998	1999
	Fairfield Distribution 4720	Industrial	—	530	4,624	590	534	5,210	5,744	2,854	1998	1999
	Fairfield Distribution 4758	Industrial	—	334	2,658	756	338	3,410	3,748	1,792	1999	1999
	Fairfield Distribution 8600	Industrial	—	600	1,185	2,084	604	3,265	3,869	1,921	1999	1999
	Fairfield Distribution 4901	Industrial	—	488	2,425	1,136	488	3,561	4,049	1,875	2000	2000
	Fairfield Distribution 4727	Industrial	—	555	3,348	1,785	555	5,133	5,688	2,299	2001	2001
	Fairfield Distribution 4701	Industrial	—	394	1,350	2,244	394	3,594	3,988	1,509	2001	2001
	Fairfield Distribution 4661	Industrial	—	444	1,640	879	444	2,519	2,963	1,191	2004	2004
	Eagle Creek Business 8701	Industrial	—	1,286	2,331	2,702	1,287	5,032	6,319	2,407	2006	2006
	Eagle Creek Business 8651	Industrial	—	2,354	1,661	1,660	2,354	3,321	5,675	2,975	2007	2007
	Eagle Creek Business 8601	Industrial	—	2,332	2,229	892	2,332	3,121	5,453	2,596	2007	2007
	Pinebrooke Bus Center 10350	Industrial	—	2,457	6,211	393	2,457	6,604	9,061	517	2020	2020
Teterboro, New Jersey
	1 Catherine Street	Industrial	—	14,376	18,788	11	14,376	18,799	33,175	4,652	2016	2017
Tracy, California
	1400 Pescadero Avenue	Industrial	—	9,633	39,644	—	9,633	39,644	49,277	15,142	2008	2013
	1124 E Pescadero Ave	Grounds	—	24,944	—	—	24,944	—	24,944	768	2021	2021
West Chester, Ohio
	World Park Union Centre 9287	Industrial	—	582	827	7,518	582	8,345	8,927	3,364	2006	2006
	World Park Union Centre 9271	Industrial	—	557	5,923	528	557	6,451	7,008	2,804	2004	2004
	World Park Union Centre 9266	Industrial	—	956	5,951	440	956	6,391	7,347	2,535	1999	2010
	World Park Union Centre 9451	Industrial	—	1,036	6,053	873	1,036	6,926	7,962	2,685	1999	2010
	World Park Union Centre 5443	Industrial	—	935	4,753	429	935	5,182	6,117	2,019	2005	2010
	World Park Union Centre 9107	Industrial	—	986	5,962	1,578	986	7,540	8,526	3,305	1999	2010
	World Park Union Centre 9245	Industrial	—	1,011	5,535	782	1,010	6,318	7,328	2,515	2001	2010

Duke Realty Corporation and Duke Realty Limited Partnership Real Estate and Accumulated Depreciation December 31, 2021 (in thousands of U.S. dollars, as applicable)						Schedule III
				Initial Cost		Cost Capitalized Subsequent to Development or Acquisition	Gross Book Value at 12/31/2021
	Name	Asset Type	Encumbrances	Land	Buildings		Land/Land Imp	Bldgs/TI	Total (1)	Accum. Depr. (2)	Year Constructed/Renovated	Year Acquired
West Palm Beach, Florida
	Park of Commerce 5655	Industrial	—	1,417	1,728	310	1,417	2,038	3,455	757	2010	2010
	Park of Commerce 5720	Industrial	—	1,872	3,633	844	2,032	4,317	6,349	1,636	2010	2010
	Airport Center 1701	Industrial	—	2,112	5,844	689	2,112	6,533	8,645	2,628	2002	2010
	Airport Center 1805	Industrial	—	1,478	4,445	251	1,479	4,695	6,174	1,785	2002	2010
	Airport Center 1865	Industrial	—	1,300	4,168	773	1,300	4,941	6,241	1,843	2002	2010
	Park of Commerce #4	Grounds	—	5,882	—	—	5,882	—	5,882	—	n/a	2011
	Park of Commerce #5	Grounds	—	6,258	—	—	6,258	—	6,258	—	n/a	2011
	Turnpike Crossing 1315	Industrial	—	7,390	5,391	353	7,390	5,744	13,134	2,393	2016	2016
	Turnpike Crossing 1333	Industrial	—	6,255	4,560	975	6,255	5,535	11,790	2,439	2016	2016
	Turnpike Crossing 6747	Industrial	—	10,607	7,112	2,786	10,607	9,898	20,505	3,301	2017	2017
	Turnpike Crossing 6729	Industrial	—	8,576	7,506	723	8,576	8,229	16,805	1,902	2018	2018
	Turnpike Crossing 6711	Industrial	—	8,328	7,210	38	8,340	7,236	15,576	927	2019	2019
	Turnpike Crossing 6717	Industrial	—	7,849	9,542	1,378	7,850	10,919	18,769	947	2020	2020
Wilmer, TX
	110 Sunridge Blvd	Industrial	—	5,692	18,751	—	5,692	18,751	24,443	407	2021	2021
Wind Gap, Pennsylvania
	1380 Jacobsburg Road	Industrial	—	15,500	25,247	753	15,500	26,000	41,500	4,555	2017	2019
Wood-Ridge, New Jersey
	5 Ethel Boulevard	Industrial	—	18,776	24,752	32	18,776	24,784	43,560	3,009	2019	2019
	Accum. Depr. on Improvements of Undeveloped Land									561
	Eliminations					(20)	(16)	(4)	(20)	9
	Properties held-for-sale						(67,818)	(102,867)	(170,685)	(36,785)
			59,722	3,480,500	5,473,564	660,060	3,435,591	6,007,848	9,443,439	1,684,413

(1)The tax basis (in thousands) of our real estate assets at December 31, 2021 was approximately $8,734,029 (unaudited) for federal income tax purposes.

(2)Depreciation of real estate is computed using the straight-line method not to exceed 40 years for buildings and 15 years for land improvements for properties that we develop, and not to exceed 30 years for buildings and 10 years for land improvements for properties that we acquire. Tenant improvements are depreciated over shorter periods based on lease terms (generally 3 to 10 years).

	Real Estate Assets						Accumulated Depreciation
	2021		2020		2019		2021		2020		2019
Balance at beginning of year	$	8,768,432	$	7,851,278	$	7,248,346	$	1,665,284	$	1,487,593	$	1,345,060
Acquisitions	595,719		410,003		205,390
Construction costs and tenant improvements	979,367		796,312		635,173
Depreciation expense							304,935		297,158		272,422
Cost of real estate sold or contributed	(598,445)		(203,502)		(176,603)		(118,072)		(33,808)		(68,861)
Write-off of fully depreciated assets	(130,949)		(85,659)		(61,028)		(130,949)		(85,659)		(61,028)
Balance at end of year including held-for-sale	$	9,614,124	$	8,768,432	$	7,851,278	$	1,721,198	$	1,665,284	$	1,487,593
Properties held-for-sale	(170,685)		(72,754)		(23,401)		(36,785)		(5,976)		(7,132)
Balance at end of year excluding held-for-sale	$	9,443,439	$	8,695,678	$	7,827,877	$	1,684,413	$	1,659,308	$	1,480,461
Other real estate investments	172,637		49,477		165,500
Real estate assets	$	9,616,076	$	8,745,155	$	7,993,377

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Consolidation, Policy

Principles of Consolidation

The consolidated financial statements include our accounts and the accounts of our majority-owned or controlled subsidiaries. The equity interests in these controlled subsidiaries not owned by us are reflected as noncontrolling interests in the consolidated financial statements. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. Investments in entities that we do not control, and variable interest entities ("VIEs") in which we are not the primary beneficiary (to the extent applicable), are not consolidated and are reflected as investments in unconsolidated joint ventures under the equity method of reporting.

Due to the fact that the Limited Partners do not have kick out rights, or substantive participating rights, the Partnership is a VIE. Because the General Partner holds majority ownership and exercises control over every aspect of the Partnership's operations, the General Partner has been determined as the primary beneficiary of the Partnership and, therefore, consolidates the Partnership.

The assets and liabilities of the General Partner and the Partnership are substantially the same, as the General Partner does not have any significant assets other than its investment in the Partnership.

Reclassifications

Reclassifications

Certain amounts in the accompanying consolidated financial statements have been reclassified to conform to the 2021 consolidated financial statement presentation.

Real Estate, Policy

Real Estate Investments

Rental real property, including land, land improvements, buildings and tenant improvements, are included in real estate investments and are generally stated at cost. Construction in process and undeveloped land are included in real estate investments and are stated at cost. Real estate investments also include our equity interests in unconsolidated joint ventures that own and operate rental properties and hold land for development.

Depreciation

Buildings and land improvements are depreciated on the straight-line method over their estimated lives not to exceed 40 and 15 years, respectively, for properties that we develop, and not to exceed 30 and 10 years, respectively, for acquired properties. Tenant improvement costs are depreciated using the straight-line method over the shorter of the useful life of the asset or term of the related lease.

Cost Capitalization

Direct and certain indirect costs, including interest, clearly associated with the development, construction or expansion of real estate investments are capitalized as a cost of the property. Direct costs include all leasing commissions paid to third parties for new leases or lease renewals. We capitalize a portion of our indirect costs associated with our construction and development efforts. Costs that are incremental to executing a lease are capitalized. In assessing the amount of direct and indirect costs to be capitalized, allocations are made based on estimates of the actual amount of time spent in each activity. We do not capitalize any costs attributable to downtime or to unsuccessful projects.

We capitalize interest and direct and indirect project costs during the period when we commence activities necessary to get the property ready for its intended use, including land entitlement and preconstruction activities, up to the time the property is substantially complete and ready for its intended use. In addition, we capitalize costs, including real estate taxes, insurance and utilities, that have been allocated to vacant space based on the square footage of the portion of the building not held available for immediate occupancy during the extended lease-up periods after construction of the building shell has been completed if costs are being incurred to ready the vacant space for its intended use. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once necessary work has been completed on a vacant space, project costs are no longer capitalized.

We cease capitalization of all project costs on extended lease-up periods when significant activities have ceased, which does not exceed the shorter of a one-year period after the completion of the building shell or when the property attains 90% occupancy.

Impairment

We evaluate our real estate assets, with the exception of those that are classified as held-for-sale, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If such an evaluation is considered necessary, we compare the carrying amount of that real estate asset, or asset group, with the expected undiscounted cash flows that are directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of that asset, or asset group. Our estimate of the expected future cash flows used in testing for impairment is based on, among other things, our estimates regarding future market conditions, rental rates, occupancy levels, costs of tenant improvements, leasing commissions and other tenant concessions, assumptions regarding the residual value of our properties at the end of our anticipated holding period and the length of our anticipated holding period and is, therefore, subjective by nature. These assumptions could differ materially from actual results. If our strategy changes or if market conditions otherwise dictate a reduction in the holding period and an earlier sale date, an impairment loss could be recognized and such loss could be material.

To the extent the carrying amount of a real estate asset, or asset group, exceeds the associated estimate of undiscounted cash flows, an impairment loss is recorded to reduce the carrying value of the asset to its fair value.

The determination of the fair value of real estate assets is also highly subjective, especially in markets where there is a lack of recent comparable transactions. We primarily utilize the income approach to estimate the fair value of our income producing real estate assets. We utilize marketplace participant assumptions to estimate the fair value of a real estate asset when an impairment charge is required to be measured. The estimation of future cash flows, as well as the selection of the discount rate and exit capitalization rate used in applying the income approach, are highly subjective measures in estimating fair value.

Real estate assets classified as held-for-sale are reported at the lower of their carrying value or their fair value, less estimated costs to sell. Once a property is designated as held-for-sale, no further depreciation expense is recorded.

Asset Acquisitions

Our acquisitions of properties have been accounted for as asset acquisitions as they have not met the definition of a business. Transaction costs related to asset acquisitions are capitalized. To the extent that we gain control of real estate properties that are accounted for as asset acquisitions, as opposed to business combinations, we accumulate the costs of any pre-existing equity interests and consideration paid for additional interest acquired and we do not remeasure our pre-existing equity interest. Generally contingencies arising from an asset acquisition are only recognized when probable.

We allocate the purchase price of asset acquisitions to tangible and identified intangible assets based on their relative fair values, using all pertinent information available at the date of acquisition. Capitalized acquisition costs are also included in the total cost basis of acquired properties that are asset acquisitions. The allocation to tangible assets (buildings, tenant improvements and land) is based upon management's determination of the value of the property as if it were vacant. This “as-if vacant” value is estimated using an income, or discounted cash flow, approach that relies upon internally determined assumptions that we believe are consistent with current market conditions for similar properties. The most important assumptions in determining the allocation of the purchase price to tangible assets are the exit capitalization rate, estimated market rents and the fair value of the underlying land. The purchase price of real estate assets is also allocated to intangible assets consisting of the above or below market component of in-place leases and the value of in-place leases.

The value allocable to the above or below market component of an acquired in-place lease is determined based upon the present value (using a discount rate which reflects the risks associated with the acquired leases) of the difference between (i) the contractual amounts to be received pursuant to the lease over its remaining term and (ii) management's estimate of the amounts that would be received using fair market rates over the remaining term of the lease. The amounts allocated to above market leases are included in deferred leasing and other costs in the balance sheet and below market leases are included in other liabilities in the balance sheet; both are amortized to rental income over the remaining terms of the respective leases.

Factors considered in determining the value allocable to in-place leases include estimates, during hypothetical expected lease-up periods, of space that is actually leased at the time of acquisition, of lost rent at market rates, fixed operating costs that will be recovered from tenants and theoretical leasing commissions required to execute similar leases. These intangible assets are included in deferred leasing and other costs in the balance sheet and are amortized over the remaining term of the existing lease.

Joint Ventures Policy

Joint Ventures

We have equity interests in unconsolidated joint ventures that are primarily engaged in the operation and development of industrial real estate properties.

We consolidate joint ventures that are considered to be VIEs where we are the primary beneficiary. We analyze our investments in joint ventures to determine if the joint venture is considered a VIE and would require consolidation. We (i) evaluate the sufficiency of the total equity investment at risk, (ii) review the voting rights and decision-making authority of the equity investment holders as a group and whether there are limited partners (or similar

owning entities) that lack substantive participating or kick out rights, guaranteed returns, protection against losses, or capping of residual returns within the group and (iii) establish whether activities within the venture are on behalf of an investor with disproportionately few voting rights in making this VIE determination.

To the extent that we own interests in a VIE and we (i) have the power to direct the activities that most significantly impact the economic performance of the VIE and (ii) have the obligation or rights to absorb losses or receive benefits that could potentially be significant to the VIE, then we would be determined to be the primary beneficiary and would consolidate the VIE. To the extent that we own interests in a VIE, then at each reporting period, we re-assess our conclusions as to which, if any, party within the VIE is considered the primary beneficiary. Consolidated joint ventures that are VIE's were not significant in any period presented in these consolidated financial statements.

To the extent that our joint ventures do not qualify as VIEs, they are consolidated if we control them through majority ownership interests or if we are the managing entity (general partner or managing member) and our partner does not have substantive participating rights. Control is further demonstrated by our ability to unilaterally make significant operating decisions, refinance debt and sell the assets of the joint venture without the consent of the non-managing entity and the inability of the non-managing entity to remove us from our role as the managing entity. Consolidated joint ventures that are not VIEs are not significant in any period presented in these consolidated financial statements.

We use the equity method of accounting for those joint ventures where we exercise significant influence but do not have control. Under the equity method of accounting, our investment in each joint venture is included on our balance sheet; however, the assets and liabilities of the joint ventures for which we use the equity method are not included on our balance sheet.

When we sell or contribute properties to unconsolidated joint ventures and retain a non-controlling ownership interest in such assets, we recognize the difference between the consideration received and the carrying amount of the asset sold or contributed when its derecognition criteria are met. The equity method investment we retain in such partial sale transactions is noncash consideration and is measured at fair value. As a result, the accounting for a partial sale results in the recognition of a full gain or loss.

When circumstances indicate there may have been a reduction in the value of an equity investment, we evaluate whether the loss in value is other than temporary. If we conclude it is other than temporary, we recognize an impairment charge to reflect the equity investment at fair value.

In July 2021, we entered into a 20%-owned unconsolidated joint venture with CBRE Global Investors ("CBREGI") with plans to contribute three tranches of properties. We contributed two separate tranches of properties to the joint venture during 2021 (see Note 5) while the third tranche was closed in January 2022 (see Note 14). The joint venture financed the acquisition of these properties with a combination of third party first mortgage loans and equity contributions from our partner in this joint venture.

There were no unconsolidated joint ventures, in which we have any recognized assets or liabilities or have retained any economic exposure to loss at December 31, 2021 that met the criteria to be considered VIEs. At December 31, 2021, we guaranteed the repayment of a loan associated with one of our unconsolidated joint ventures. The maximum guarantee exposure for the loan was approximately $4.8 million.

Cash and Cash Equivalents, Policy

Cash Equivalents

Investments with an original maturity of three months or less are classified as cash equivalents.

Receivables, Policy

Valuation of Receivables

Our determination of the adequacy of our allowances for tenant receivables includes a binary assessment of whether or not the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and

deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination.

Deferred Charges, Policy

Deferred Costs

Deferred Financing Costs

Costs incurred in connection with obtaining financing are deferred and are amortized to interest expense over the term of the related loan. The costs for issuing debt, other than lines of credit, are presented on the consolidated balance sheets as a direct deduction from the debt's carrying value, while debt issuance costs related to the Partnership's unsecured line of credit are presented as assets on the consolidated balance sheets, as part of other escrow deposits and other assets.

Lease Related Costs and Acquired Lease-Related Intangible Assets

Costs that are directly incremental to executing a lease are capitalized.

Acquired lease-related intangible assets consist of above market lease assets and the value allocable to in-place leases. Above market lease assets are amortized as a reduction to rental income over the remaining terms of the respective leases. In-place lease intangible assets are amortized on a straight-line basis and included within depreciation and amortization in the consolidated statements of operations and comprehensive income.

Deferred leasing costs and acquired lease-related intangible assets at December 31, 2021 and 2020, excluding amounts classified as held-for-sale, were as follows (in thousands):

	2021		2020
Deferred leasing costs	$	376,597	$	359,646
Acquired lease-related intangible assets	171,314		174,241
	$	547,911	$	533,887
Accumulated amortization - deferred leasing costs	$	(122,789)	$	(120,756)
Accumulated amortization - acquired lease-related intangible assets	(87,186)		(83,366)
Total	$	337,936	$	329,765

Amounts recorded related to amortization expense for in-place leases for the years ended December 31, 2021, 2020 and 2019 totaled $20.4 million, $19.5 million and $22.0 million, respectively. Charges to rental income related to the amortization of above market lease assets for the years ended December 31, 2021, 2020 and 2019 totaled $367,000, $639,000 and $703,000, respectively.

The expected future amortization, or charge to rental income, of acquired lease-related intangible assets is summarized in the table below (in thousands):

Year	Amortization Expense		Charge to Rental Income
2022	$	18,168	$	352
2023	15,271		353
2024	11,986		59
2025	9,789		—
2026	7,574		—
Thereafter	20,576		—
	$	83,364	$	764

Noncontrolling Interests Policy

Noncontrolling Interests

Noncontrolling interests relate to the minority ownership interests in the Partnership and interests in consolidated property partnerships that are not wholly owned by the General Partner or the Partnership. Noncontrolling interests are subsequently adjusted for additional contributions, distributions to noncontrolling holders and the noncontrolling holders' proportionate share of the net earnings or losses of each respective entity. We report noncontrolling interests as a component of total equity.

When a Common Unit of the Partnership is redeemed (Note 1), the change in ownership is treated as an equity transaction by the General Partner and there is no effect on its earnings or net assets.

Revenue Recognition, Policy

Revenue Recognition

Rental and Related Revenue

Rental income from leases to customers is recognized on a straight-line basis. If a lease provides for tenant improvements, we determine whether we or the tenant is the owner of the tenant improvements. When we are the owner of the tenant improvements, any tenant improvements funded by the tenant are treated as lease payments which are deferred and amortized as revenue over the lease term. When the tenant is the owner of the tenant improvements, and we fund such improvements, we record such tenant improvement allowances as lease incentives and amortize as a reduction of revenue over the lease term.

We record lease termination fees when a tenant has executed a definitive termination agreement with us and the payment of the termination fee is not subject to any material conditions that must be met or waived before the fee is due to us.

General Contractor and Service Fee Revenue

General contractor and service fee revenues are comprised primarily of construction and development related revenues earned from third parties while acting in capacity of a developer, as a general contractor or a construction manager. We evaluate the goods and services provided in these construction arrangements to determine whether we are acting as principal or agent and, accordingly, recognize revenue on a gross or net basis based on that evaluation. There are other ancillary streams of revenue included in general contractor and service fee revenues (see Note 9), such as management fees earned from unconsolidated joint ventures in accordance with the terms specific to each arrangement, which are not significant.

Our construction arrangements are typically structured with only one performance obligation, which generally represents an obligation either to construct a new building or to construct fixtures in an existing building, and these single performance obligations are satisfied over time as construction progresses. We recognize revenue as we satisfy such performance obligations using the percentage of completion method, which is an input method. Using this method, profits are recorded based on our estimates of the percentage of completion of individual contracts, commencing when the work performed under the contracts reaches a point where the final costs can be estimated with reasonable accuracy. The percentage of completion estimates are based on a comparison of the contract expenditures incurred to the estimated final costs. We believe the percentage of completion method is a faithful

depiction of the transfer of goods and services as changes in job performance and estimated profitability, which result in revisions to costs and income and are recognized in the period in which the revisions are determined, have not historically been significant. We typically receive regular progress payments on the majority of our construction arrangements and such arrangements generally have an original duration of less than one year. As the result of the relatively short duration of our construction arrangements, we apply the optional disclosure exemptions, related to our remaining performance obligations for our in-process construction projects, for which any future variable consideration is not material. Changes in job performance, job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined. To the extent that a fixed-price contract is estimated to result in a loss, the loss is recorded immediately.

Opening and closing balances of construction receivables are presented separately on the Consolidated Balance Sheets. Under billed and over billed receivables on construction contracts totaled $45.8 million and $1.9 million, respectively, at December 31, 2021 and $16.6 million and $105,000, respectively, at December 31, 2020. Over billed receivables are included in other liabilities in the Consolidated Balance Sheets. We generally do not have any contract assets associated with our construction arrangements.

Management fees are based on a percentage of rental receipts of properties managed and are recognized as the rental receipts are collected. Maintenance fees are based upon established hourly rates and are recognized as the services are performed.

Discontinued Operations, Policy

Property Sales

Only disposals representing a strategic shift in operations (for example, a disposal of a major geographic area or a major line of business) should be presented as discontinued operations in accordance with ASC 205-20, without consideration of significant continuing involvement.

We recognize gains on sales of properties, including partial sales, of non-financial assets (and in-substance non-financial assets) when the recognition criteria are met. In the typical course of our business, sales of non-financial assets represent only one performance obligation and are recognized when an enforceable contract is in place, collectability is ensured and control is transferred to the buyer.

Leases

Leases

As a lessor, our primary business is the development, acquisition, and operation of industrial real estate properties that are held for investment and leased to tenants. We manage residual risk through investing in properties that we believe will appreciate in value over time. We also evaluate the collectability of the cash flows of our leases prior to their execution, and on an ongoing basis, to ensure collectability is probable prior to recognizing lease revenues on an accrual basis.

We only capitalize the incremental costs of signing a lease. Non-incremental costs attributable to successful leases, as presented in the Consolidated Statements of Operations, represent internal costs allocable to successful leasing activities and exclude estimated costs related to downtime and/or unsuccessful deals. These costs primarily consist of compensation and other benefits for internal leasing and legal personnel. These costs are not capitalizable "incremental costs" in the context of the applicable lease accounting rules, but we believe separate presentation on the Consolidated Statements of Operations provides useful information for purposes of comparability with economically similar success-based costs incurred by other organizations that outsource their leasing functions, which are generally capitalizable.

We exclude certain lessor costs, such as real estate taxes and insurance, that are paid directly by lessees to third parties, from rental revenue and the associated rental expense. Lessor costs that are paid by the lessor and reimbursed by the lessee continue to be recorded through rental revenue and the associated rental expense.

The applicable lease accounting rules allow a practical expedient for lessors to not separate rental recovery revenue related to lease-related services from the associated rental revenue related to the lease when certain criteria are met. The lease-related services provided to our tenants include property management, common area maintenance ("CAM") and utilities. We assessed the applicable criteria, concluding that the timing and straight-line pattern of

transfer to the lessees for rental recovery revenue from our lease-related services and revenue from the underlying leases are the same and that lease classification does not change, and we have consistently applied this practical expedient in all periods presented.

As a lessee, we apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset. This classification determines whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. In the capacity of a lessee, we record a right-of-use ("ROU") asset and a lease liability for all leases with a term of greater than 12 months regardless of classification.

See Note 3 for further disclosure on our leases as a lessor and lessee.

Earnings Per Share, Policy

Net Income Per Common Share or Common Unit

Basic net income per common share or Common Unit is computed by dividing net income attributable to common shareholders or common unitholders, less dividends or distributions on share-based awards expected to vest (referred to as "participating securities" and primarily composed of unvested restricted stock units), by the weighted average number of common shares or Common Units outstanding for the period.

Diluted net income per common share is computed by dividing the sum of net income attributable to common shareholders and the noncontrolling interest in earnings allocable to Limited Partner Units (to the extent the Limited Partner Units are dilutive), less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, weighted average number of Limited Partner Units outstanding and any potential dilutive securities for the period. Diluted net income per Common Unit is computed by dividing the net income attributable to common unitholders, less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of Common Units outstanding and any potential dilutive securities for the period.

The following table reconciles the components of basic and diluted net income per common share or Common Unit (in thousands): 

	2021		2020		2019
General Partner
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972
Less: Dividends on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common shareholders	851,539		298,468		427,485
Add back dividends on dilutive participating securities	1,356		—		1,487
Noncontrolling interest in earnings of common unitholders	8,354		2,663		3,678
Diluted net income attributable to common shareholders	$	861,249	$	301,131	$	432,650
Weighted average number of common shares outstanding	377,673		370,057		362,234
Weighted average Limited Partner Units outstanding	3,708		3,303		3,118
Other potential dilutive shares	2,095		796		1,987
Weighted average number of common shares and potential dilutive securities	383,476		374,156		367,339
Partnership
Net income attributable to common unitholders	$	861,249	$	302,578	$	432,650
Less: Distributions on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common unitholders	$	859,893	$	301,131	$	431,163
Add back distributions on dilutive participating securities	1,356		—		1,487
Diluted net income attributable to common unitholders	$	861,249	$	301,131	$	432,650
Weighted average number of Common Units outstanding	381,381		373,360		365,352
Other potential dilutive units	2,095		796		1,987
Weighted average number of Common Units and potential dilutive securities	383,476		374,156		367,339

The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands):

	2021	2020	2019
General Partner and Partnership
Other potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	—	—	—
Anti-dilutive outstanding participating securities	—	1,621	—

Income Tax, Policy

Federal Income Taxes

General Partner

The General Partner has elected to be taxed as a REIT under the Code, as amended. To qualify as a REIT, the General Partner must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of its REIT taxable income to its shareholders. Management intends to continue to adhere to these requirements and to maintain the General Partner's REIT status. As a REIT, the General Partner is entitled to a tax deduction for the dividends it pays to shareholders. Accordingly, the General Partner generally will not be subject to federal income taxes as long as it currently distributes to shareholders an amount equal to or in excess of its taxable income. The General Partner is, however, generally subject to federal income taxes on any taxable income that is not currently distributed to its shareholders. If the General Partner fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years.

REIT qualification reduces, but does not eliminate, the amount of state and local taxes we pay. In addition, our financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to federal, state and local income taxes. As a REIT, the General Partner may also be subject to certain federal excise taxes if it engages in certain types of transactions.

The following table reconciles the General Partner's net income to taxable income before the dividends paid deduction, and subject to the 90% distribution requirement, for the years ended December 31, 2021, 2020 and 2019 (in thousands): 

	2021		2020		2019
Net income	$	861,618	$	302,760	$	432,644
Book/tax differences	(467,205)		63,838		(120,421)
Taxable income before the dividends paid deduction	394,413		366,598		312,223
Less: capital gains	(33,652)		(62,165)		(62,513)
Adjusted taxable income subject to the 90% distribution requirement	$	360,761	$	304,433	$	249,710

The General Partner's dividends paid deduction is summarized below (in thousands): 

	2021		2020		2019
Cash dividends paid	$	394,487	$	355,287	$	318,702
Cash dividends declared and paid in subsequent year that apply to current year	26,886		22,960		6,521
Cash dividends declared and paid in current year that apply to previous year	(22,960)		(6,521)		(9,286)
Dividends paid deduction	398,413		371,726		315,937
Less: Capital gain distributions	(33,652)		(62,165)		(62,513)
Dividends paid deduction attributable to adjusted taxable income subject to the 90% distribution requirement	$	364,761	$	309,561	$	253,424

Our tax return for the year ended December 31, 2021 has not been filed. The taxability information presented for our dividends paid in 2021 is based upon management’s estimate. Consequently, the taxability of dividends is subject to change. A summary of the designated tax characterization of the dividends paid by the General Partner for the years ended December 31, 2021, 2020 and 2019 is as follows:

	2021		2020		2019
Common Shares
Ordinary income	91.5	%	74.6	%	80.7	%
Capital gains	8.5	%	25.4	%	19.3	%
	100.0	%	100.0	%	100.0	%

Partnership

For the Partnership, the allocated share of income and loss other than the operations of its taxable REIT subsidiary is included in the income tax returns of its partners; accordingly the only federal income taxes included in the accompanying consolidated financial statements of the Partnership are in connection with its taxable REIT subsidiary.

Income taxes are not material to our operating results or financial position. Our taxable REIT subsidiary has no significant net deferred income tax positions or unrecognized tax benefit items.

Cash Paid for Income Taxes

We paid federal, state and local income taxes, net of income tax refunds, of $22.2 million and $7.8 million in 2021 and 2019, respectively. We received income tax refunds, net of federal, state and local income tax payments, of $308,000 in 2020.

Fair Value Measurements Policy

Fair Value Measurements

We estimate fair value using available market information and valuation methodologies. Assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities to which we have access.

Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals.

Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity's own assumptions, as there is little, if any, related market activity.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Derivatives, Policy [Policy Text Block]

Derivative Financial Instruments

We periodically enter into certain interest rate protection agreements to effectively convert or cap floating rate debt to a fixed rate, and to hedge anticipated future financing transactions, both of which qualify for cash flow hedge accounting treatment. We do not utilize derivative financial instruments for trading or speculative purposes. The entire effect of any hedging instruments and hedged items are presented in the same income statement line item.

If a derivative qualifies as a cash flow hedge, the gain or loss on the derivative is recorded in accumulated other comprehensive income or loss and subsequently reclassified into interest expense in the same period during which the hedged forecasted transaction affects earnings. For all hedging relationships, we formally document the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged item, the nature of the risk being hedged and how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively.

Use of Estimates, Policy

Use of Estimates

The preparation of the financial statements requires management to make a number of estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Accounting Policies [Abstract]

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

Deferred leasing costs and acquired lease-related intangible assets at December 31, 2021 and 2020, excluding amounts classified as held-for-sale, were as follows (in thousands):

	2021		2020
Deferred leasing costs	$	376,597	$	359,646
Acquired lease-related intangible assets	171,314		174,241
	$	547,911	$	533,887
Accumulated amortization - deferred leasing costs	$	(122,789)	$	(120,756)
Accumulated amortization - acquired lease-related intangible assets	(87,186)		(83,366)
Total	$	337,936	$	329,765

Schedule of Future Amortized Expense and Charge to Rental Income

The expected future amortization, or charge to rental income, of acquired lease-related intangible assets is summarized in the table below (in thousands):

Year	Amortization Expense		Charge to Rental Income
2022	$	18,168	$	352
2023	15,271		353
2024	11,986		59
2025	9,789		—
2026	7,574		—
Thereafter	20,576		—
	$	83,364	$	764

Schedule of Earnings Per Share, Basic and Diluted

The following table reconciles the components of basic and diluted net income per common share or Common Unit (in thousands): 

	2021		2020		2019
General Partner
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972
Less: Dividends on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common shareholders	851,539		298,468		427,485
Add back dividends on dilutive participating securities	1,356		—		1,487
Noncontrolling interest in earnings of common unitholders	8,354		2,663		3,678
Diluted net income attributable to common shareholders	$	861,249	$	301,131	$	432,650
Weighted average number of common shares outstanding	377,673		370,057		362,234
Weighted average Limited Partner Units outstanding	3,708		3,303		3,118
Other potential dilutive shares	2,095		796		1,987
Weighted average number of common shares and potential dilutive securities	383,476		374,156		367,339
Partnership
Net income attributable to common unitholders	$	861,249	$	302,578	$	432,650
Less: Distributions on participating securities	(1,356)		(1,447)		(1,487)
Basic net income attributable to common unitholders	$	859,893	$	301,131	$	431,163
Add back distributions on dilutive participating securities	1,356		—		1,487
Diluted net income attributable to common unitholders	$	861,249	$	301,131	$	432,650
Weighted average number of Common Units outstanding	381,381		373,360		365,352
Other potential dilutive units	2,095		796		1,987
Weighted average number of Common Units and potential dilutive securities	383,476		374,156		367,339

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands):

	2021	2020	2019
General Partner and Partnership
Other potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	—	—	—
Anti-dilutive outstanding participating securities	—	1,621	—

Reconciliation of Net Income to Taxable Income Before Dividends Paid Deduction

The following table reconciles the General Partner's net income to taxable income before the dividends paid deduction, and subject to the 90% distribution requirement, for the years ended December 31, 2021, 2020 and 2019 (in thousands): 

	2021		2020		2019
Net income	$	861,618	$	302,760	$	432,644
Book/tax differences	(467,205)		63,838		(120,421)
Taxable income before the dividends paid deduction	394,413		366,598		312,223
Less: capital gains	(33,652)		(62,165)		(62,513)
Adjusted taxable income subject to the 90% distribution requirement	$	360,761	$	304,433	$	249,710

Computation of Dividends Paid Deduction

The General Partner's dividends paid deduction is summarized below (in thousands): 

	2021		2020		2019
Cash dividends paid	$	394,487	$	355,287	$	318,702
Cash dividends declared and paid in subsequent year that apply to current year	26,886		22,960		6,521
Cash dividends declared and paid in current year that apply to previous year	(22,960)		(6,521)		(9,286)
Dividends paid deduction	398,413		371,726		315,937
Less: Capital gain distributions	(33,652)		(62,165)		(62,513)
Dividends paid deduction attributable to adjusted taxable income subject to the 90% distribution requirement	$	364,761	$	309,561	$	253,424

Summary of Tax Characterization of Dividends Paid

A summary of the designated tax characterization of the dividends paid by the General Partner for the years ended December 31, 2021, 2020 and 2019 is as follows:

	2021		2020		2019
Common Shares
Ordinary income	91.5	%	74.6	%	80.7	%
Capital gains	8.5	%	25.4	%	19.3	%
	100.0	%	100.0	%	100.0	%

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Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Operating Lease, Lease Income [Table Text Block]

The components of Rental and Related Revenue are as follows (in thousands):

	Twelve Months Ended December 31,
	2021		2020		2019
Rental revenue - fixed payments	$	764,574	$	692,753	$	645,759
Rental revenue - variable payments (1)	261,089		236,441		210,074
Rental and related revenue	$	1,025,663	$	929,194	$	855,833

(1) Primarily includes tenant recoveries for real estate taxes, insurance and CAM.

Schedule of Future Minimum Payments Receivable [Table Text Block]

The future minimum rents due to us under non-cancelable operating leases are as follows (in thousands):

Year	December 31, 2021
2022	$	784,537
2023	769,715
2024	705,620
2025	630,618
2026	546,431
Thereafter	2,299,185
	$	5,736,106

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table summarizes the future lease payments (in thousands) to be made under non-cancellable operating lease arrangements:

Year	December 31, 2021
2022	$	4,617
2023	4,327
2024	3,433
2025	1,759
2026	1,644
Thereafter	81,487
Total undiscounted operating lease payments	$	97,267
Less: imputed interest	55,904
Present value of operating lease payments	$	41,363

Finance Lease, Liability, Maturity

The future lease payments (in thousands) under our finance leases as of December 31, 2021 for five years and thereafter are as follows:

Year	December 31, 2021
2022	$	1,414
2023	1,714
2024	1,731
2025	1,762
2026	1,787
Thereafter	127,532
Total undiscounted finance lease payments	$	135,940
Less: imputed interest	96,746
Present value of finance lease payments	$	39,194

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Restricted Cash (Tables)

12 Months Ended

Dec. 31, 2021

Restricted Cash [Abstract]

Restrictions on Cash and Cash Equivalents [Table Text Block]

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows (in thousands):

	December 31, 2021		December 31, 2020
Cash and cash equivalents	$	69,752	$	6,309
Restricted cash held in escrow for like-kind exchange	—		47,682
Restricted cash included in other escrow deposits and other assets	33,412		13,232
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	103,164	$	67,223

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Significant Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2021

Real Estate [Abstract]

Real Estate Investment Financial Statements, Disclosure

The following table summarizes our real estate acquisition activities for the years ended December 31 (dollars in thousands):

	2021		2020		2019
Buildings:
Number of buildings	8		10		6
Cash paid at time of acquisition	$	447,584	$	383,672	$	210,224
Land and other real estate assets:
Acres of land	536		250		517
Cash paid at time of acquisition (1)	$	700,632	$	248,413	$	388,202

Summary of Allocation of Fair Value of Amounts Recognized [Table Text Block]

The following table summarizes amounts recognized for each major class of assets and liabilities (in thousands) for acquisitions of income producing properties during the years ended December 31:

	2021		2020		2019
Real estate assets	$	570,820	$	410,481	$	205,390
Lease related intangible assets	11,796		14,460		11,716
Total acquired assets	$	582,616	$	424,941	$	217,106
Secured debt	—		25,455		—
Below market lease liabilities	57,441		14,124		—

Summary of Significant Assumptions Utilized in Estimates [Table Text Block]

The most significant assumptions used in calculating the "as-if vacant" value for acquisition activity during 2021 and 2020, respectively, are as follows:

	2021		2020
	Low	High	Low	High
Exit capitalization rate	3.50%	5.00%	3.98%	5.46%
Annual net rental rate per square foot on acquired buildings	$6.62	$17.16	$5.28	$18.11
Annual net rental rate per acre on acquired ground lease	$182,136	$182,136	$—	$—

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Investments in Unconsolidated Companies (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Summarized Financial Information for Unconsolidated Companies

Combined summarized financial information for the unconsolidated joint ventures at December 31, 2021 and 2020, and for the years ended December 31, 2021, 2020 and 2019, are as follows (in thousands):

	2021		2020		2019
Rental revenue	$	67,142	$	57,952	$	59,905
Gains on land and property sales - continuing operations	$	64,480	$	2,076	$	24,099
Net income	$	85,323	$	19,183	$	40,134
Equity in earnings of unconsolidated joint ventures	$	32,804	$	11,944	$	31,406
Land, buildings and tenant improvements, net	$	625,206	$	321,803
Construction in progress	31,745		23,507
Undeveloped land	3,326		23,653
Other assets	106,521		79,842
	$	766,798	$	448,805
Indebtedness	$	286,430	$	155,539
Other liabilities	45,580		31,946
	332,010		187,485
Owners' equity	434,788		261,320
	$	766,798	$	448,805
Investments in and advances to unconsolidated joint ventures (1)	$	168,336	$	131,898

(1) Differences between the net investment in our unconsolidated joint ventures and our underlying equity in the net assets of the ventures are primarily a result of basis differences associated with the sales of properties to joint ventures in which we retained an ownership interest. These adjustments have resulted in an aggregate difference increasing our investments in unconsolidated joint ventures by $3.8 million and $2.7 million as of December 31, 2021 and 2020, respectively. Differences between historical cost basis and the basis reflected at the joint venture level (other than loans and impairments) are typically depreciated over the life of the related asset.

Schedule of Maturities of Long-term Debt of Unconsolidated Joint Ventures

The scheduled principal payments of long term debt for the unconsolidated joint ventures, at our ratable ownership percentage, for each of the next five years and thereafter as of December 31, 2021 are as follows (in thousands):

Year	Future Repayments
2022	$	121
2023	126
2024	2,525
2025	30,885
2026	47,341
Thereafter	—
	$	80,998

During 2021, a 20% owned joint venture partially financed acquisitions of properties from us with third party mortgage loans and our proportional share of such borrowings was $41.5 million with maturity dates in 2026 (see Note 5). In January 2022, this unconsolidated joint venture financed an additional acquisition of assets from us with $34.0 million, at our proportional share, of third party mortgage loans that mature in 2025 (see Note 14).

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Discontinued Operations and Assets Held for Sale (Tables)

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Real Estate Properties [Table Text Block]

Real estate assets, excluding assets held-for-sale, consisted of the following (in thousands):

	December 31, 2021		December 31, 2020
Buildings and tenant improvements	$	6,007,848	$	5,812,004
Land and improvements	3,435,591		2,883,674
Other real estate investments (1)	172,637		49,477
Real estate assets	$	9,616,076	$	8,745,155

(1) Includes underutilized in-fill sites, which may have had buildings/structures on site when we acquired them, that are either (i) under lease to a third party and, after the lease ends, are expected to be redeveloped or will require significant capital expenditures before re-leasing; or (ii) industrial/logistics properties that we intend to re-lease after significant retrofitting and/or environmental remediation is completed. The leases on these assets are usually short term in nature.

Allocation of Common Shareholders' Income (Loss) Between Continuing and Discontinued Operations

The following table illustrates the General Partner's share of the income attributable to common shareholders from continuing operations and discontinued operations, reduced by the allocation of income between continuing and discontinued operations to noncontrolling interests, for the years ended December 31, 2021, 2020 and 2019, respectively (in thousands):

	2021		2020		2019
Income from continuing operations attributable to common shareholders	$	852,895	$	299,805	$	428,531
Income from discontinued operations attributable to common shareholders	—		110		441
Net income attributable to common shareholders	$	852,895	$	299,915	$	428,972

Schedule of Number of Properties Sold or Held-for-Sale [Table Text Block]

The following table illustrates the number of sold or held-for-sale properties:

	Held-for-Sale at December 31, 2021	Sold in 2021	Sold in 2020	Sold in 2019	Total
Properties sold or classified as held-for-sale	3	30	7	28	68

These held-for-sale properties were wholly-owned and leased by our largest tenant, which was the third tranche of assets to be contributed to a 20% owned unconsolidated joint venture (see Note 5). The contribution was closed in January 2022 (see Note 14).

Schedule of Discontinued Operations, Properties Held-for-Sale, Aggregate Balance Sheet Information

The following table illustrates aggregate balance sheet information for properties held-for-sale (in thousands):

	Held-for-Sale Properties Included in Continuing Operations
	December 31, 2021		December 31, 2020
Land and improvements	$	67,818	$	27,954
Buildings and tenant improvements	102,867		44,800
Accumulated depreciation	(36,785)		(5,976)
Deferred leasing and other costs, net	5,392		936
Other assets	5,359		232
Total assets held-for-sale	$	144,651	$	67,946
Accrued expenses	$	43	$	660
Other liabilities	6,235		7,080
Total liabilities held-for-sale	$	6,278	$	7,740

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Indebtedness (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Indebtedness at December 31, 2021 and 2020 consists of the following (in thousands):

	Maturity Date	Weighted Average Interest Rate		Weighted Average Interest Rate
		2021		2020		2021		2020
Fixed rate secured debt	2025 to 2035	4.51	%	4.56	%	$	58,422	$	62,817
Variable rate secured debt	2025	0.12	%	0.08	%	1,300		1,600
Unsecured debt	2024 to 2050	3.00	%	3.35	%	3,675,000		3,058,740
Unsecured line of credit	2026	—	%	1.03	%	—		295,000
						$	3,734,722	$	3,418,157
Less: Deferred financing costs						45,440		33,106
Total indebtedness as reported on consolidated balance sheets						$	3,689,282	$	3,385,051

Unsecured Lines of Credit

Our unsecured line of credit at December 31, 2021 is described as follows (in thousands):

				Outstanding Balance at
Description	Borrowing Capacity		Maturity Date	December 31, 2021
Unsecured Line of Credit – Partnership	$	1,200,000	March 31, 2025	$	—

Fair Value, Liabilities Measured on a Recurring Basis, Disclosure Only

As all of our fair value debt disclosures relied primarily on Level 3 inputs, the following table summarizes the book value and changes in the fair value of our debt for the year ended December 31, 2021 (in thousands): 

	Book Value at 12/31/2020		Book Value at 12/31/2021		Fair Value at 12/31/2020		Issuances and Assumptions		Payments/Payoffs		Adjustments to Fair Value		Fair Value at 12/31/2021
Fixed rate secured debt	$	62,817	$	58,422	$	65,848	$	—	$	(4,113)	$	(1,746)	$	59,989
Variable rate secured debt	1,600		1,300		1,600		—		(300)		—		1,300
Unsecured debt	3,058,740		3,675,000		3,387,913		990,226		(373,966)		(224,708)		3,779,465
Unsecured line of credit	295,000		—		295,000		—		(295,000)		—		—
Total	$	3,418,157	$	3,734,722	$	3,750,361	$	990,226	$	(673,379)	$	(226,454)	$	3,840,754
Less: Deferred financing costs	33,106		45,440
Total indebtedness as reported on the consolidated balance sheets	$	3,385,051	$	3,689,282

Schedule of Maturities of Long-term Debt

At December 31, 2021, the scheduled amortization and maturities of all indebtedness, excluding fair value adjustment, for the next five years and thereafter were as follows (in thousands):

Year	Amount
2022	$	4,646
2023	4,893
2024	305,155
2025	5,102
2026	378,238
Thereafter	3,033,158
	$	3,731,192

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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The following table shows the revenues for each of the reportable segments, as well as a reconciliation to consolidated revenues, for the years ended December 31, 2021, 2020 and 2019 (in thousands):

	2021		2020		2019
Revenues
Rental Operations:
Industrial	$	1,019,342	$	921,612	$	848,806
Non-reportable Rental Operations	5,506		5,995		5,794
Service Operations	80,260		64,004		117,926
Total segment revenues	1,105,108		991,611		972,526
Other revenue	815		1,587		1,233
Consolidated revenue	$	1,105,923	$	993,198	$	973,759

Schedule of Revenue by Major Customers by Reporting Segments

The table below shows the revenues from a major customer from each of our reportable segments (in thousands):

	Twelve Months Ended December 31,
	2021		2020		2019
Revenues
Rental Operations - Industrial	$	91,495	$	92,986	$	63,805
Service Operations	30,315		32,771		45,177

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes, for the years ended December 31, 2021, 2020 and 2019 (in thousands and excluding discontinued operations):

	2021		2020		2019
PNOI
Industrial	$	706,956	$	611,217	$	550,399
Non-reportable Rental Operations	5,227		5,020		3,811
PNOI, excluding all sold properties	712,183		616,237		554,210
PNOI from sold properties included in continuing operations	24,834		49,574		63,911
PNOI, continuing operations	737,017		665,811		618,121
Earnings from Service Operations	12,142		6,028		6,360
Rental Operations revenues and expenses excluded from PNOI:
Straight-line rental income and expense, net	32,081		25,865		21,197
Revenues related to lease buyouts	323		2,863		1,611
Amortization of lease concessions and above and below market rents	12,368		8,984		7,802
Intercompany rents and other adjusting items	(2,704)		(1,473)		1,012
Non-Segment Items:
Equity in earnings of unconsolidated joint ventures	32,804		11,944		31,406
Interest expense	(84,843)		(93,442)		(89,756)
Depreciation and amortization expense	(362,148)		(353,013)		(327,223)
Gain on sale of properties	585,685		127,700		234,653
Impairment charges	—		(5,626)		—
Interest and other income, net	4,451		1,721		9,941
General and administrative expenses	(69,554)		(62,404)		(60,889)
Gain on land sales	12,917		10,458		7,445
Other operating expenses	(3,607)		(8,209)		(5,318)
Loss on extinguishment of debt	(17,901)		(32,900)		(6,320)
Gain on involuntary conversion	3,222		4,312		2,259
Non-incremental costs related to successful leases	(13,302)		(12,292)		(12,402)
Other non-segment revenues and expenses, net	1,216		1,210		986
Income from continuing operations before income taxes	$	880,167	$	297,537	$	440,885

Reportable Segments Consolidated Assets

The assets for each of the reportable segments at December 31, 2021 and 2020 were as follows (in thousands):

	December 31, 2021		December 31, 2020
Assets
Rental Operations:
Industrial	$	9,887,635	$	8,709,960
Non-reportable Rental Operations	33,702		35,292
Service Operations	182,979		160,194
Total segment assets	10,104,316		8,905,446
Non-segment assets	341,339		205,948
Consolidated assets	$	10,445,655	$	9,111,394

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Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

RSU Rollforward

The following table summarizes transactions for our unvested RSUs, excluding dividend equivalents, for 2021: 

Restricted Stock Units	Number of RSUs	Weighted Average Grant-Date Fair Value
December 31, 2020	678,803	$32.98
Granted in 2021	322,227	$42.15
Vested in 2021	(368,428)	$31.66
Forfeited in 2021	(41,760)	$37.47
December 31, 2021	590,842	$38.49

Unvested Performance Award Rollforward

Details on the unvested amounts of these annual grants by performance period are as follows:

Performance-Based Awards	Unvested Awards Outstanding	Unvested Weighted Average Grant Date Fair Value
Unvested awards at December 31, 2020	207,712	$33.58
Above target performance adjustment	105,416	$29.98
Vested in 2021	(210,832)	$29.98
Granted in 2021	97,527	$42.07
Unvested awards at December 31, 2021	199,823	$39.62

Vested Performance Award Rollforward

A summary of vested performance-based awards that are denominated in LTIP units is as follows:

	Vested LTIP Awards Outstanding
Vested Awards at December 31, 2020	322,569
Vested in 2021	148,518
Completed holding period in 2021	(142,324)
Vested Awards at December 31, 2021	328,763

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Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Schedule of Dividends Payable [Table Text Block]

The General Partner's board of directors declared the following dividends/distributions at its regularly scheduled board meeting held on January 26, 2022:

Class of stock/units	Quarterly Amount per Share or Unit		Record Date	Payment Date
Common	$	0.28	February 16, 2022	February 28, 2022

Property Dispositions

In January 2022, we contributed three buildings to an unconsolidated joint venture. The joint venture financed the acquisition of these properties with a combination of third party first mortgage loans and equity contributions from our partner and we received approximately $289.7 million of net cash proceeds, including our share of the proceeds from the joint venture's first mortgage loans.

Debt Extinguishment

On January 14, 2022, we provided notice of redemption to the holders of our $300.0 million of 3.75% unsecured notes, which are scheduled to mature in December 2024. This redemption occurred on February 13, 2022 and resulted in a loss on debt extinguishment of approximately $22.0 million, which is comprised of the prepayment premium and the write-off of unamortized deferred financing costs.

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The Company (Details)	12 Months Ended
	Dec. 31, 2021
Duke Realty Corporation [Member]
Common partnership interests of DRLP owned	99.10%
Non-Duke Unitholders [Member]
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest	0.90%

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Property, Plant and Equipment, Useful Life (Details)	12 Months Ended
	Dec. 31, 2021
Maximum [Member] | Developed Properties [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Maximum [Member] | Acquired Properties [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Minimum [Member]
Property, Plant and Equipment [Line Items]
Percentage of property leased	90.00%
Minimum [Member] | Developed Properties [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Minimum [Member] | Acquired Properties [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years

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Summary of Significant Accounting Policies Deferred Leasing and Other Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Leasing and Other [Abstract]
Deferred leasing costs	$ 376,597,000	$ 359,646,000
Acquired lease-related intangible assets	171,314,000	174,241,000
Deferred Leasing Costs and Finite Lived Intangible Assets Acquired, gross	547,911,000	533,887,000
Accumulated amortization - deferred leasing costs	(122,789,000)	(120,756,000)
Accumulated amortization - acquired lease-related intangible assets	(87,186,000)	(83,366,000)
Deferred Leasing and other costs, net of accumulated amortization	337,936,000	329,765,000
Amortization of Intangible Assets	20,400,000	19,500,000	$ 22,000,000
Amortization of above market lease, charge to rental income	367,000	$ 639,000	$ 703,000
2022	18,168,000
2023	15,271,000
2024	11,986,000
2025	9,789,000
2026	7,574,000
Thereafter	20,576,000
Finite-Lived Intangible Assets, Net	(83,364,000)
2022	352,000
2023	353,000
2024	59,000
2025	0
2026	0
Thereafter	0
Net Charge to Rental Income	$ 764,000

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Summary of Significant Accounting Policies (General Contractor Revenue) (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Costs in Excess of Billings	$ 45,800,000	$ 16,600,000
Billings in Excess of Cost	$ 1,900,000	$ 105,000

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Summary of Significant Accounting Policies (Basic and Diluted Income) (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic	$ 852,895	$ 299,915	$ 428,972
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	(1,356)	(1,447)	(1,487)
Net Income Loss Attributable To Common Stockholders Basic	851,539	298,468	427,485
Participating Securities, Distributed and Undistributed Earnings (Loss), Diluted	1,356	0	1,487
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Redeemable	8,354	2,663	3,678
Net Income (Loss) Available to Common Stockholders, Diluted	$ 861,249	$ 301,131	$ 432,650
Weighted Average Number of Shares Outstanding, Basic	377,673	370,057	362,234
Weighted Average Limited Partnership Units Outstanding, Basic	3,708	3,303	3,118
Weighted Average Number Diluted Shares Outstanding Adjustment	2,095	796	1,987
Weighted Average Number of Shares Outstanding, Diluted	383,476	374,156	367,339
Duke Realty Limited Partnership [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic	$ 861,249	$ 302,578	$ 432,650
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	(1,356)	(1,447)	(1,487)
Net Income Loss Attributable To Common Unitholders Basic	859,893	301,131	431,163
Participating Securities, Distributed and Undistributed Earnings (Loss), Diluted	1,356	0	1,487
Diluted Net Income Loss Attributable To Common Unitholders	$ 861,249	$ 301,131	$ 432,650
Weighted Average Number of Shares Outstanding, Basic	381,381	373,360	365,352
Weighted Average Number Diluted Shares Outstanding Adjustment	2,095	796	1,987
Weighted Average Number of Shares Outstanding, Diluted	383,476	374,156	367,339

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Summary of Significant Accounting Policies (Computation of Anti-Dilutive Common Share) (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity Option
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0
Participating Securities
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	1,621,000	0

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Summary of Significant Accounting Policies (Reconciliation of Net Income to Taxable Income Before Dividends Paid Deduction) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
REIT dividend distribution requirement percentage	90.00%
Net income (loss)	$ 861,618	$ 302,760	$ 432,644
Book/tax differences	(467,205)	63,838	(120,421)
Taxable income before adjustments	394,413	366,598	312,223
Less: capital gains	(33,652)	(62,165)	(62,513)
Adjusted taxable income subject to 90% distribution requirement	$ 360,761	$ 304,433	$ 249,710

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Summary of Significant Accounting Policies (Computation of Dividends Paid Deduction) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash dividends paid	$ 394,487	$ 355,287	$ 318,702
cash dividends declared and paid in subsequent year that apply to current year	26,886	22,960	6,521
Cash Dividends Declared and Paid in Current Year That Apply to Previous Year	(22,960)	(6,521)	(9,286)
Dividends Paid Deduction	398,413	371,726	315,937
Less: Capital gain distributions	(33,652)	(62,165)	(62,513)
Total dividends paid deduction attributable to adjusted taxable income	$ 364,761	$ 309,561	$ 253,424

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Summary of Significant Accounting Policies Tax Characteristics of Dividends (Details) - Common Stock [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Tax Characterization of Dividends Paid [Line Items]
Percent of Total Dividends Paid	100.00%	100.00%	100.00%
Ordinary Income [Member]
Tax Characterization of Dividends Paid [Line Items]
Percent of Total Dividends Paid	91.50%	74.60%	80.70%
Capital Gains [Member]
Tax Characterization of Dividends Paid [Line Items]
Percent of Total Dividends Paid	8.50%	25.40%	19.30%

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Summary of Significant Accounting Policies (Income Taxes Paid) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Proceeds from Income Tax Refunds		$ 308
Income taxes paid, net	$ 22,200		$ 7,800

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Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) loans	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Rental revenue - fixed payments	$ 764,574	$ 692,753	$ 645,759
Rental revenue - variable payments (1)	261,089	236,441	210,074
Rental and related revenue	1,025,663	929,194	$ 855,833
2022	784,537
2023	769,715
2024	705,620
2025	630,618
2026	546,431
Thereafter	2,299,185
Lessor, Operating Lease, Payments to be Received	5,736,106
2022	4,617
2023	4,327
2024	3,433
2025	1,759
2026	1,644
Thereafter	81,487
Total undiscounted operating lease payments	97,267
Less: imputed interest	$ 55,904
Operating Lease, Weighted Average Remaining Lease Term	34 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	4.42%
2022	$ 1,414
2023	1,714
2024	1,731
2025	1,762
2026	1,787
Thereafter	127,532
Total undiscounted finance lease payments	135,940
Less: imputed interest	$ 96,746
Lessee, Finance Lease, Remainder of the Lease Term	54 years 2 months 12 days
Lessee, Finance Lease, Discount Rate	5.12%
Number of Properties Subject to Ground Leases | loans	2
Number of ground leases with CPI-based payment increases [Line Items] | loans	1
Other Liabilities [Member]
Operating Lease, Liability	$ 41,363	42,900
Finance Lease, Liability	39,194	19,400
Other Assets
Operating Lease, Right-of-Use Asset	36,800	38,900
Finance Lease, Right-of-Use Asset	$ 37,500	$ 19,200
Minimum [Member]
Range of Rent Increases	2.00%
Maximum [Member]
Range of Rent Increases	3.00%

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Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Cash [Abstract]
Cash and cash equivalents	$ 69,752	$ 6,309
Restricted cash held in escrow for like-kind exchange	0	47,682
Restricted cash included in other escrow deposits and other assets	33,412	13,232
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$ 103,164	$ 67,223	$ 121,431	$ 25,517

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Building and Land Acquisitions - Cash (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) buildings loans	Dec. 31, 2020 USD ($) loans buildings	Dec. 31, 2019 USD ($) loans buildings
Property, Plant and Equipment [Line Items]
Number of Real Estate Properties | buildings	8	10	6
Acquisition of buildings and related intangible assets	$ 447,584	$ 383,672	$ 210,224
Acres of Land | loans	536	250	517
Payments to Acquire Land	$ 700,632	$ 248,413	$ 388,202
Issuance of Limited Partner Units for acquisition	11,603	0	0
Series of Individually Immaterial Asset Acquisitions
Property, Plant and Equipment [Line Items]
Acquisition of buildings and related intangible assets	64,000
Payments to Acquire Land	163,700	$ 13,100	$ 160,400
Issuance of Limited Partner Units for acquisition	$ 11,600

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Asset Acquisition Allocation (Narrative) (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) buildings entities	Dec. 31, 2020 USD ($) buildings	Dec. 31, 2019 USD ($) buildings	Jan. 14, 2022
Asset Acquisition [Line Items]
Real estate assets		$ 570,820	$ 410,481	$ 205,390
Lease related intangible assets		11,796	14,460	11,716
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total		582,616	424,941	217,106
Secured debt		128,639	39,966	0
Below market lease liabilities		$ 57,441	$ 14,124	$ 0
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		11 years	6 years 4 months 24 days	6 years 6 months
Number of Real Estate Properties | buildings		8	10	6
Number of unconsolidated joint ventures in which equity interests held | entities		9
Equity Method Investment, Ownership Percentage		20.00%			20.00%
Equity in earnings of unconsolidated joint ventures		$ 32,804	$ 11,944	$ 31,406
Non-cash distribution of properties from Unconsolidated Joint Ventues
Asset Acquisition [Line Items]
Number of Real Estate Properties | buildings		2
Number of unconsolidated joint ventures in which equity interests held | entities		2
Equity Method Investment, Ownership Percentage		50.00%
Equity in earnings of unconsolidated joint ventures		$ 10,600
Assets Received from Distribution		52,200
Repayments of Assumed Debt	$ 40,200
Series of Individually Immaterial Asset Acquisitions
Asset Acquisition [Line Items]
Secured debt		$ 0	$ 25,455	$ 0

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Significant Assumptions Utilized in Estimates (Narrative) (Details)	Dec. 31, 2021 buildings $ / sqft $ / a	Dec. 31, 2020 buildings $ / sqft $ / a	Dec. 31, 2019 buildings
Asset Acquisition [Line Items]
Number of Real Estate Properties | buildings	8	10	6
Industrial [Member] | Minimum [Member]
Asset Acquisition [Line Items]
Fair Value Measurement With Unobservable Inputs Rental Rate Per Square Foot | $ / sqft	6.62	5.28
Industrial [Member] | Maximum [Member]
Asset Acquisition [Line Items]
Fair Value Measurement With Unobservable Inputs Rental Rate Per Square Foot | $ / sqft	17.16	18.11
Industrial Property | Minimum [Member]
Asset Acquisition [Line Items]
Fair Value Measurement, Annual Net rental rate per acre on acquired ground lease | $ / a	182,136	0
Industrial Property | Maximum [Member]
Asset Acquisition [Line Items]
Fair Value Measurement, Annual Net rental rate per acre on acquired ground lease | $ / a	182,136	0
Measurement Input, Cap Rate [Member] | Minimum [Member]
Asset Acquisition [Line Items]
Fair Value Inputs, Capitalization Rate	3.50%	3.98%
Measurement Input, Cap Rate [Member] | Maximum [Member]
Asset Acquisition [Line Items]
Fair Value Inputs, Capitalization Rate	5.00%	5.46%

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Significant Dispositions (Narrative) (Details) $ in Thousands				1 Months Ended	12 Months Ended
	Sep. 21, 2021 USD ($) buildings	Jul. 27, 2021 USD ($) buildings entities	Jul. 22, 2021 USD ($) a buildings	Sep. 30, 2019 USD ($)	Dec. 31, 2021 USD ($) buildings	Dec. 31, 2020 USD ($) buildings	Dec. 31, 2019 USD ($) buildings	Jan. 14, 2022
Dispositions Disclosures [Line Items]
Proceeds from Sale of Real Estate Held-for-investment | $					$ 1,067,967	$ 336,255	$ 432,662
Number of Real Estate Properties | buildings					8	10	6
Equity Method Investment, Ownership Percentage					20.00%			20.00%
Number of Tranches of Contributed Assets | entities		3
Capital distributions from unconsolidated joint ventures | $					$ 61,616	$ 876	$ 26,272
Proceeds from Collection of Notes Receivable | $						$ 110,000
Number of Real Estate Properties Sold				18	30	7	28
Proceeds from Sale of Productive Assets | $				$ 217,500
Gain (Loss) on Sale of Properties | $				$ 146,300	$ 598,602	$ 138,269	$ 242,543
Square Feet of Properties Sold				4,100,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Proceeds from Sale of Real Estate Held-for-investment | $			$ 286,300
Building | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Number of Real Estate Properties | buildings			14
Land [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Area of Real Estate Property | a			15
Tranches 1, 2 and 3
Dispositions Disclosures [Line Items]
Number of Real Estate Properties | buildings		9
Tranche 1 | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Proceeds from Sale of Real Estate Held-for-investment | $		$ 115,700
Number of Real Estate Properties | buildings		3
Tranche 1 | Building | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Number of Real Estate Properties | buildings		2
Tranche 1 | Trailer Storage | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Number of Real Estate Properties | buildings		1
Tranche 2 | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Proceeds from Sale of Real Estate Held-for-investment | $	$ 172,900
Number of Real Estate Properties | buildings	3
Tranche 2 | Building | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Number of Real Estate Properties | buildings	2
Tranche 2 | Trailer Storage | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Dispositions Disclosures [Line Items]
Number of Real Estate Properties | buildings	1
Tranches 1 and 2
Dispositions Disclosures [Line Items]
Capital distributions from unconsolidated joint ventures | $					$ 41,100

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Investments in Unconsolidated Companies (Summarized Financial Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Rental and related revenue	$ 1,025,663	$ 929,194	$ 855,833
Net income	861,618	302,760	432,644
Equity in earnings of unconsolidated joint ventures	32,804	11,944	31,406
Total Assets	10,445,655	9,111,394
Total Liabilities	4,306,694	3,876,946
Total Liabilities and Equity	10,445,655	9,111,394
Investments in and advances to unconsolidated joint ventures	168,336	131,898
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity	3,800	2,700
Equity Method Investee [Member]
Schedule of Equity Method Investments [Line Items]
Rental and related revenue	67,142	57,952	59,905
Gains on land and property sales - continuing operations	64,480	2,076	24,099
Net income	85,323	19,183	$ 40,134
Land, buildings and tenant improvements, net	625,206	321,803
Construction in progress	31,745	23,507
Undeveloped land	3,326	23,653
Other assets	106,521	79,842
Total Assets	766,798	448,805
Indebtedness	286,430	155,539
Other liabilities	45,580	31,946
Total Liabilities	332,010	187,485
Members' Equity	434,788	261,320
Total Liabilities and Equity	$ 766,798	$ 448,805

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Investments in Unconsolidated Companies (Schedule of Long-term Debt Maturities) (Details) $ in Thousands	Jan. 14, 2022 USD ($)	Dec. 31, 2021 USD ($) entities
Schedule of Equity Method Investments [Line Items]
2022		$ 4,646
2023		4,893
2024		305,155
2025		5,102
2026		378,238
Thereafter		3,033,158
Long-term Debt		$ 3,731,192
Number of unconsolidated joint ventures in which equity interests held | entities		9
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
2022		$ 121
2023		126
2024		2,525
2025		30,885
2026		47,341
Thereafter		0
Long-term Debt		80,998
20% owned joint venture loan [Member]
Schedule of Equity Method Investments [Line Items]
2025	$ 34,000
2026		$ 41,500

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Investments in Unconsolidated Companies (Narrative) (Details)	Dec. 31, 2021 entities
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated joint ventures in which equity interests held	9

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Discontinued Operations, Assets Held for Sale and Impairments Real Estate Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate Assets [Abstract]
Investment Building and Building Improvements	$ 6,007,848	$ 5,812,004
Land and Land Improvements	3,435,591	2,883,674
Real Estate Investments, Other	172,637	49,477	$ 165,500
Real Estate Assets	$ 9,616,076	$ 8,745,155	$ 7,993,377

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Discontinued Operations and Assets Held for Sale (Allocation of Shareholders' Income (Loss) Between Continuing and Discontinued Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Discontinued Operations
Income (loss) from continuing operations attributable to common shareholders	$ 852,895	$ 299,805	$ 428,531
Income (loss) from discontinued operations attributable to common shareholders	0	110	441
Net income attributable to common shareholders	$ 852,895	$ 299,915	$ 428,972

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Discontinued Operations and Assets Held for Sale (Table Illustration of Number of Properties in Discontinued Operations) (Details)	1 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2021 buildings	Dec. 31, 2020 buildings	Dec. 31, 2019 buildings	Jan. 14, 2022
Number of Real Estate Properties Held for Sale		3
Number of Real Estate Properties Sold	18	30	7	28
Total Properties Sold or Classified as Held for Sale		68
Equity Method Investment, Ownership Percentage		20.00%			20.00%

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Discontinued Operations and Assets Held for Sale (Aggregate Balance Sheet of Properties Held for Sale Included in Discontinued Operations) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) buildings	Dec. 31, 2020 USD ($)
Discontinued Operations
Continuing Operations, Number of In-service Properties Held for Sale | buildings	3
Land and Land Improvements Held-for-Sale	$ (67,818)
Buildings and Tenant Improvements Held-for-Sale	(102,867)
Accumulated Depreciation of Assets Held-for-Sale	36,785
Total assets held-for-sale	144,651	$ 67,946
Total liabilities held-for-sale	6,278	7,740
Continuing Operations [Member]
Discontinued Operations
Land and Land Improvements Held-for-Sale	67,818	27,954
Buildings and Tenant Improvements Held-for-Sale	102,867	44,800
Accumulated Depreciation of Assets Held-for-Sale	(36,785)	(5,976)
Lease Related Assets, Held for Sale	5,392	936
Other assets	5,359	232
Total assets held-for-sale	144,651	67,946
Accrued Expenses Held-for-Sale	43	660
Other Liabilities Held-for-Sale	6,235	7,080
Total liabilities held-for-sale	$ 6,278	$ 7,740

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Indebtedness (Summary of Book Value and Changes in Fair Value of Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Debt, Weighted Average Interest Rate			4.54%
Book value	$ 3,689,282	$ 3,385,051
Long-term Debt, Gross	3,734,722	3,418,157
Debt Issuance Costs, Net	45,440	33,106
Fair value	3,840,754	$ 3,750,361
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	990,226
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	(673,379)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ (226,454)
Fixed Rate Secured Debt [Member]
Debt, Weighted Average Interest Rate	4.51%	4.56%
Book value	$ 58,422	$ 62,817
Fair value	59,989	$ 65,848
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	(4,113)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ (1,746)
Variable Rate Secured Debt [Member]
Debt, Weighted Average Interest Rate	0.12%	0.08%
Book value	$ 1,300	$ 1,600
Fair value	1,300	$ 1,600
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	(300)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ 0
Unsecured Debt [Member]
Debt, Weighted Average Interest Rate	3.00%	3.35%
Book value	$ 3,675,000	$ 3,058,740
Fair value	3,779,465	$ 3,387,913
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	990,226
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	(373,966)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ (224,708)
Unsecured Line of Credit DRLP [Member]
Debt, Weighted Average Interest Rate	0.00%	1.03%
Book value	$ 0	$ 295,000
Fair value	0	$ 295,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	(295,000)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ 0

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Indebtedness Secured Debt (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2020 USD ($) buildings Rate	Dec. 31, 2021 USD ($) buildings loans	Dec. 31, 2020 USD ($) buildings	Dec. 31, 2019 USD ($) buildings	Nov. 30, 2021	Jan. 31, 2021	Jun. 30, 2020	Feb. 29, 2020 USD ($)
Debt Instrument [Line Items]
gross basis of secured properties		$ 158,900
Letters of Credit Outstanding, Amount		1,300
Fair value		$ 3,840,754	$ 3,750,361
Debt Instrument, Interest Rate, Effective Percentage					2.38%	1.83%	1.85%	3.19%
Number of Real Estate Properties | buildings		8	10	6
Weighted Average Remaining Term On Long-Term Debt Outstanding	11 years 9 months 18 days
Debt, Weighted Average Interest Rate	4.54%
Repayments of Secured Debt		$ 4,413	$ 13,457	$ 45,515
Fixed Rate Secured Debt [Member]
Debt Instrument [Line Items]
Fair value		$ 59,989	$ 65,848
Debt, Weighted Average Interest Rate		4.51%	4.56%
Acquired Property Measurement Input | Rate	2.50%
number of secured loans repaid | loans		1
Repayments of Secured Debt		$ 9,000
Repaid Debt, Weighted Average Interest Rate		5.61%
Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 21,500							$ 18,400
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate								3.41%
Number of Real Estate Properties | buildings	2
Debt Instrument, Fair Value Disclosure	$ 25,500
Minimum [Member] | Fixed Rate Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		2.40%
Maximum [Member] | Fixed Rate Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		2.90%

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Indebtedness Unsecured Debt (Details) - USD ($) $ in Thousands	1 Months Ended				12 Months Ended
	Aug. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Feb. 29, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2021	Jan. 31, 2021
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.63%	3.88%	1.75%	3.05%				2.25%	1.75%
Debt Instrument, Interest Rate, Effective Percentage			1.85%	3.19%				2.38%	1.83%
Loss on debt extinguishment	$ 13,900	$ 3,900			$ (17,901)	$ (32,900)	$ (6,320)
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 250,000	$ 83,700	$ 350,000	$ 325,000				$ 500,000	$ 450,000
Extinguishment of Debt, Amount			216,300	300,000
Loss on debt extinguishment			$ 15,100	$ 17,800
Stated Interest Rate on Extinguished Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			3.88%	4.38%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Estimated Trading Values, Percent of Face Value, Minimum					95.00%
Debt Instrument, Estimated Trading Values, Percent of Face Value, Maximum					125.00%
Debt Instrument, Covenant Compliance					We were in compliance with all such financial covenants at

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Indebtedness (Unsecured Lines of Credit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Nov. 30, 2021	Aug. 31, 2021	Jun. 30, 2021	Jan. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Feb. 29, 2020
Line of credit balance	$ 0					$ 295,000
Debt Instrument, Interest Rate, Effective Percentage		2.38%			1.83%		1.85%	3.19%
Debt Instrument, Interest Rate, Stated Percentage		2.25%	3.63%	3.88%	1.75%		1.75%	3.05%
Unsecured Line of Credit DRLP [Member]
Maximum Capacity	$ 1,200,000
Maturity date	Mar. 31, 2025
Line of credit balance	$ 0
Line of Credit Facility, Increase, Additional Borrowings	800,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,000,000
Line of Credit Facility, Covenant Compliance	we were in compliance with all financial covenants under this line of credit.
Debt Issuance Costs, Gross	$ 6,200
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Description of Variable Rate Basis	LIBOR
London Interbank Offered Rate (LIBOR) [Member] | Unsecured Line of Credit DRLP [Member]
Debt Instrument, Basis Spread on Variable Rate	0.775%

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Indebtedness Indebtedness (Schedule of Maturities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2022	$ 4,646
2023	4,893
2024	305,155
2025	5,102
2026	378,238
Thereafter	3,033,158
Long-term Debt	3,731,192
Interest Paid, Excluding Capitalized Interest, Operating Activities	107,900	$ 104,600	$ 111,800
Interest Paid, Capitalized, Investing Activities	$ 35,000	$ 24,300	$ 26,500

XML

Summary of Revenues (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of Reportable Segments	2
Rental and related revenue	$ 1,025,663	$ 929,194	$ 855,833
General contractor and service fee revenue (''Service Operations'')	80,260	64,004	117,926
Total Segment Revenues	$ 1,105,923	993,198	973,759
Major Customer | Customer Concentration Risk | Revenue Benchmark
Segment Reporting, Revenue Reconciling Item [Line Items]
Concentration Risk, Percentage	10.00%
Operating Segments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total Segment Revenues	$ 1,105,108	991,611	972,526
Operating Segments [Member] | Industrial Operations
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental and related revenue	1,019,342	921,612	848,806
Operating Segments [Member] | Industrial Operations | Customer Concentration Risk | Revenue Benchmark
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental and related revenue	91,495	92,986	63,805
Operating Segments [Member] | Non-reportable segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental and related revenue	5,506	5,995	5,794
Operating Segments [Member] | Service Operations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
General contractor and service fee revenue (''Service Operations'')	80,260	64,004	117,926
Operating Segments [Member] | Service Operations [Member] | Customer Concentration Risk | Revenue Benchmark
Segment Reporting, Revenue Reconciling Item [Line Items]
General contractor and service fee revenue (''Service Operations'')	30,315	32,771	45,177
Corporate, Non-Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental and related revenue	$ 815	$ 1,587	$ 1,233

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Segment Reporting Summary of Net Operating Income (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2021	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Straight-line rental income and expense, net			$ 32,081	$ 25,865	$ 21,197
Equity in earnings of unconsolidated joint ventures			32,804	11,944	31,406
Interest Expense			(84,843)	(93,442)	(89,756)
Depreciation and amortization expense			(362,148)	(353,013)	(327,223)
Gain on sale of properties			585,685	127,700	234,653
Impairment Charges			0	(5,626)	0
Interest and other income, net			4,451	1,721	9,941
General and Administrative Expense			(69,554)	(62,404)	(60,889)
Gain on land sales			12,917	10,458	7,445
Other operating expenses			(3,607)	(8,209)	(5,318)
Loss on debt extinguishment	$ 13,900	$ 3,900	(17,901)	(32,900)	(6,320)
Gain on involuntary conversion			(3,222)	(4,312)	(2,259)
Non-incremental costs related to successful leases			13,302	12,292	12,402
Income from continuing operations before income taxes			880,167	297,537	440,885
Operating Segments [Member]
Segment Reporting Information [Line Items]
Property Level Net Operating Income – Cash Basis			712,183	616,237	554,210
PNOI, continuing operations			737,017	665,811	618,121
Operating Segments [Member] | Industrial Operations
Segment Reporting Information [Line Items]
Property Level Net Operating Income – Cash Basis			706,956	611,217	550,399
Operating Segments [Member] | Non-reportable Rental Operations
Segment Reporting Information [Line Items]
Property Level Net Operating Income – Cash Basis			5,227	5,020	3,811
Operating Segments [Member] | Earnings from Service Operations
Segment Reporting Information [Line Items]
Earnings from Service Operations			12,142	6,028	6,360
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
PNOI from sold properties included in continuing operations			24,834	49,574	63,911
Straight-line rental income and expense, net			32,081	25,865	21,197
Revenues related to lease buyouts			323	2,863	1,611
Amortization of lease concessions and above and below market rents			12,368	8,984	7,802
Intercompany rents and other adjusting items			(2,704)	(1,473)	1,012
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Equity in earnings of unconsolidated joint ventures			32,804	11,944	31,406
Interest Expense			(84,843)	(93,442)	(89,756)
Depreciation and amortization expense			(362,148)	(353,013)	(327,223)
Gain on sale of properties			585,685	127,700	234,653
Impairment Charges			0	(5,626)	0
Interest and other income, net			4,451	1,721	9,941
General and Administrative Expense			(69,554)	(62,404)	(60,889)
Gain on land sales			12,917	10,458	7,445
Other operating expenses			(3,607)	(8,209)	(5,318)
Loss on debt extinguishment			(17,901)	(32,900)	(6,320)
Gain on involuntary conversion			(3,222)	(4,312)	2,259
Non-incremental costs related to successful leases			(13,302)	(12,292)	12,402
Other non-segment revenues and expenses, net			$ 1,216	$ 1,210	$ 986

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Segment Reporting (Reportable Segments Consolidated Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Total Assets	$ 10,445,655	$ 9,111,394
Operating Segments [Member]
Total Assets	10,104,316	8,905,446
Operating Segments [Member] | Industrial Operations
Total Assets	9,887,635	8,709,960
Operating Segments [Member] | Non-reportable segments
Total Assets	33,702	35,292
Operating Segments [Member] | Service Operations [Member]
Total Assets	182,979	160,194
Corporate, Non-Segment [Member]
Total Assets	$ 341,339	$ 205,948

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Employee Benefit Plans (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match		50.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	10.00%	6.00%
401(k) plan, expense recognized		$ 2.6	$ 2.2	$ 2.1

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Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock Value Authorized Under Stock Offering Program	$ 400,000
Stock Issued During Period, Shares, New Issues	8,200,000	4,600,000	8,000,000
Proceeds from issuance of common shares, net	$ 406,576	$ 187,856	$ 272,761
At-the-market equity issuance [Member]
Proceeds from issuance of common shares, net	403,600	175,000	263,300
Gross Proceeds [Member] | At-the-market equity issuance [Member]
Proceeds from issuance of common shares, net	$ 408,300	$ 177,100	$ 266,300

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Stock Based Compensation RSU Rollforward (Details) - RSUs [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
RSU Rollforward [Line Items]
Unvested RSUs Outstanding	590,842	678,803
RSU Awards Granted	322,227
Vested	(368,428)
Forfeited	(41,760)
Weighted Average Grant Date Fair Value (RSUs)	$ 38.49	$ 32.98	$ 27.73
Weighted Average Grant Date Fair Value of RSU's Granted During the Period	42.15	$ 37.28	$ 29.98
Weighted Average Grant Date Fair Value of Vested RSUs	31.66
Weighted Average Grant Date Fair Value of RSUs forfeited	$ 37.47
RSU Compensation expense recognized	$ 12,500	$ 12,100	$ 11,000
RSUs unrecognized compensation expense	$ 6,300
RSUs unrecognized compensation expense, weighted average recognition period	1 year 8 months 12 days
RSUs Aggregate Intrinsic Value, Vested	$ 11,700	$ 15,400	$ 17,700

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Stock Based Compensation RSU Narrative (Details) shares in Millions	Dec. 31, 2021 years shares
Number of shares authorized for stock based employee and non-employee compensation plans | shares	9.7
Employee [Member]
RSUs, vesting period (in years)	3
Director [Member]
RSUs, vesting period (in years)	1
RSUs, annual vesting percentage	100.00%
RSUs, contractual lives (in years)	1

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Performance Based Plan Unvested Rollforward (Details) - Performance Shares - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Performance Share Rollforward [Line Items]
Unvested Performance Awards Outstanding	199,823	207,712
Above target performance adjustment	105,416
Vested in 2021	(210,832)
Granted in 2021	97,527
Weighted Average Grant Date Fair Value (Performance Awards)	$ 39.62	$ 33.58	$ 27.50
Weighted Average Grant Date Fair Value of Above Target Performance Adjustment	29.98
Weighted Average Grant Date Fair Value of Vested Performance Shares	29.98
Weighted Average Grant Date Fair Value of Performance Awards Granted During the Period	$ 42.07	$ 37.29	$ 29.98
Performance Award Compensation Expense Recognized	$ 8,500	$ 7,800	$ 6,200
Performance Award unrecognized compensation expense	$ 760
Performance Award unrecognized compensation expense weighted average recognition period	1 year 6 months

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Performance Based Plan Vested Rollforward (Details) - Vested - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Performance Share Rollforward [Line Items]
Vested LTIP Performance Awards Outstanding	328,763	322,569
Total RSUs Vested in Period	148,518
Completed Holding Period	(142,324)

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Performance Based Plan (Details)	12 Months Ended
	Dec. 31, 2021
Maximum [Member]
Maximum and Minimum Payout Percentages	200.00%
Minimum [Member]
Maximum and Minimum Payout Percentages	0.00%

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Commitments and Contingencies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) entities
Loss Contingencies [Line Items]
Guaranteed Repayment of Economic Development Bonds	$ 18.5
Number of unconsolidated subsidiaries for which loans guaranteed | entities	1
Maximum Guarantee Exposure for Joint Venture Loans	$ 4.8

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Subsequent Events (Details) $ / shares in Units, $ in Thousands			1 Months Ended			3 Months Ended	12 Months Ended
	Feb. 13, 2022 USD ($)	Jan. 14, 2022 USD ($) loans	Aug. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2019	Mar. 31, 2022 $ / shares	Dec. 31, 2021 USD ($) buildings	Dec. 31, 2020 USD ($) buildings	Dec. 31, 2019 USD ($) buildings	Jan. 31, 2022 USD ($)	Nov. 30, 2021	Jan. 31, 2021	Jun. 30, 2020	Feb. 29, 2020
Subsequent Event [Line Items]
Number of Real Estate Properties Sold					18		30	7	28
Debt Instrument, Interest Rate, Stated Percentage			3.63%	3.88%							2.25%	1.75%	1.75%	3.05%
Gain (Loss) on Extinguishment of Debt			$ 13,900	$ 3,900			$ (17,901)	$ (32,900)	$ (6,320)
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from Sale of Buildings		$ 289,700
Number of Real Estate Properties Sold | loans		3
Debt Instrument, Face Amount										$ 300,000
Debt Instrument, Interest Rate, Stated Percentage										3.75%
Gain (Loss) on Extinguishment of Debt	$ 22,000
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared | $ / shares						$ 0.28
Dividends Payable, Date of Record						Feb. 16, 2022
Dividends Payable, Date to be Paid						Feb. 28, 2022

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Schedule III (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 59,722
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,480,500
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,473,564
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	660,060
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,614,124	$ 8,768,432	$ 7,851,278	$ 7,248,346
Real Estate Accumulated Depreciation	1,721,198	1,665,284	1,487,593	$ 1,345,060
Land and Land Improvements Held-for-Sale	(67,818)
Buildings and Tenant Improvements Held-for-Sale	(102,867)
Total Land, Land Improvements, Buildings and Tenant Improvements Held-for-Sale	(170,685)	(72,754)	(23,401)
Accumulated Depreciation of Assets Held-for-Sale	(36,785)
Land and Land Improvements	3,435,591	2,883,674
Investment Building and Building Improvements	6,007,848	5,812,004
SEC Schedule III, Real Estate, Excluding Held-for-Sale	9,443,439	8,695,678	7,827,877
Real Estate Investment Property, Accumulated Depreciation	1,684,413	$ 1,659,308	$ 1,480,461
Real Estate, Federal Income Tax Basis	8,734,029
Atlanta Airport Distribution 3781 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,064
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,383
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	320
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,064
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,703
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,767
Real Estate Accumulated Depreciation	3,683
Aurora Meridian Business 880 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	963
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,625
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,467
Real Estate and Accumulated Depreciation, Carrying Amount of Land	963
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,092
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,055
Real Estate Accumulated Depreciation	3,376
Aurora 4220 Meridian Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	970
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,512
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	102
Real Estate and Accumulated Depreciation, Carrying Amount of Land	970
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,614
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,584
Real Estate Accumulated Depreciation	1,544
Aurora Butterfield 2805 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	9,185
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,795
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,847
Real Estate and Accumulated Depreciation, Carrying Amount of Land	9,272
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,555
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	25,827
Real Estate Accumulated Depreciation	11,623
Aurora Butterfield 4000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,132
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	12,639
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	70
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,132
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,709
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,841
Real Estate Accumulated Depreciation	3,870
Aurora Butterfield 2850 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	11,317
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	18,305
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	130
Real Estate and Accumulated Depreciation, Carrying Amount of Land	11,317
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,435
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	29,752
Real Estate Accumulated Depreciation	6,561
Aurora Butterfield 4200 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,777
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,108
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	68
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,967
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,986
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,953
Real Estate Accumulated Depreciation	3,493
Austell Hartman Business 7545 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,640
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	21,471
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	20
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,640
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	21,491
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,131
Real Estate Accumulated Depreciation	8,725
Austell 240 The Bluffs [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,138
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	15,447
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,086
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,138
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,533
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,671
Real Estate Accumulated Depreciation	2,314
Avenel Paddock 1
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	20,861
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	15,408
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	91
Real Estate and Accumulated Depreciation, Carrying Amount of Land	20,861
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,499
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	36,360
Real Estate Accumulated Depreciation	1,644
Baltimore Chesapeake Commerce 5901 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,345
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,355
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,855
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,365
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,190
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,555
Real Estate Accumulated Depreciation	3,834
Baltimore Chesapeake Commerce 5003 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,488
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,087
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,767
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,546
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,796
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,342
Real Estate Accumulated Depreciation	6,739
Baltimore Chesapeake Commerce 1500 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,289
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,109
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	108
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,333
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,173
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,506
Real Estate Accumulated Depreciation	4,326
Baltimore Chesapeake Commerce 5900 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,567
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,100
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	876
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,567
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,976
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,543
Real Estate Accumulated Depreciation	2,373
Baltimore Chesapeake Commerce 6000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,418
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,369
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	362
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,418
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,731
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,149
Real Estate Accumulated Depreciation	835
Batavia S Afton Industrial Park 3001 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,729
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	20,717
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,729
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	20,717
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	26,446
Real Estate Accumulated Depreciation	2,881
Bloomingdale Morgan Business Center 400 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	18,385
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	44,455
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	539
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,385
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	44,994
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	63,379
Real Estate Accumulated Depreciation	9,004
Bolingbrook 250 East Old Chicago Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,229
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,038
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	253
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,229
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,291
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,520
Real Estate Accumulated Depreciation	1,723
Bolingbrook Crossroads 2 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,134
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,434
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,407
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,134
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,841
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,975
Real Estate Accumulated Depreciation	2,375
Bolingbrook Crossroads 375 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,064
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,371
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	497
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,064
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,868
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,932
Real Estate Accumulated Depreciation	1,848
Bolingbrook Crossroads Parkway 370 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,409
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,236
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	912
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,409
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,148
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,557
Real Estate Accumulated Depreciation	2,383
Bolingbrook Crossroads Parkway 605 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,656
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,587
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,550
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,656
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,137
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,793
Real Estate Accumulated Depreciation	3,970
Bolingbrook Crossroads Parkway 335 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,574
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,342
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,032
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,574
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,374
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,948
Real Estate Accumulated Depreciation	3,533
Boynton Gateway Center 1103 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,701
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,300
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,712
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,702
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,011
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,713
Real Estate Accumulated Depreciation	2,920
Boynton Gateway Center 3602 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,738
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,584
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	265
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,739
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,848
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,587
Real Estate Accumulated Depreciation	1,789
Boynton Gateway Center 3402 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,063
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,218
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	471
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,064
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,688
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,752
Real Estate Accumulated Depreciation	1,485
Boynton Gateway Center 2055 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,560
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,583
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	175
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,560
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,758
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,318
Real Estate Accumulated Depreciation	1,036
Boynton Gateway Center 2045 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,073
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,541
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	835
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,073
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,376
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,449
Real Estate Accumulated Depreciation	922
Boynton Gateway Center 2035 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,073
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,304
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	699
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,073
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,003
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,076
Real Estate Accumulated Depreciation	772
Boynton Gateway Center 2025 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,560
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,658
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	145
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,560
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,803
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,363
Real Estate Accumulated Depreciation	1,048
Boynton Gateway Center 1926 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,143
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,900
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,458
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,144
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,357
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,501
Real Estate Accumulated Depreciation	4,653
Braselton Braselton Business 920 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,365
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,713
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,921
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,529
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,470
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,999
Real Estate Accumulated Depreciation	7,001
Braselton 625 Braselton Pkwy [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,355
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	21,010
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,726
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,417
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	25,674
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	31,091
Real Estate Accumulated Depreciation	11,360
Braselton 1350 Braselton Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,227
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,856
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,158
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,227
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,014
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,241
Real Estate Accumulated Depreciation	8,839
Brentwood Brentwood South Business 7104 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,065
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,410
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,084
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,065
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,494
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,559
Real Estate Accumulated Depreciation	3,469
Brentwood Brentwood South Business 7106 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,065
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,844
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,974
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,065
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,818
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,883
Real Estate Accumulated Depreciation	2,100
Brentwood Brentwood South Business 7108 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	848
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,233
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,392
Real Estate and Accumulated Depreciation, Carrying Amount of Land	848
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,625
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,473
Real Estate Accumulated Depreciation	2,650
Brooklyn Park 7300 Northland Drive [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	700
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,289
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	862
Real Estate and Accumulated Depreciation, Carrying Amount of Land	703
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,148
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,851
Real Estate Accumulated Depreciation	3,398
Brooklyn Park Crosstown North 9201 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	835
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,433
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,501
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,121
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,648
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,769
Real Estate Accumulated Depreciation	3,168
Brooklyn Park Crosstown North 8400 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,079
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,926
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,044
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,233
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,816
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,049
Real Estate Accumulated Depreciation	4,003
Brooklyn Park Crosstown North 9100 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,079
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,743
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	999
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,166
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,655
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,821
Real Estate Accumulated Depreciation	2,591
Brooklyn Park Crosstown North 9200 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,222
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,674
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,690
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,256
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,330
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,586
Real Estate Accumulated Depreciation	2,262
Brooklyn Park Crosstown North 7601 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,998
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,472
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	885
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,998
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,357
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,355
Real Estate Accumulated Depreciation	3,366
Buena Park 6280 Artesia Boulevard [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	28,582
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,010
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	871
Real Estate and Accumulated Depreciation, Carrying Amount of Land	28,582
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,881
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	34,463
Real Estate Accumulated Depreciation	1,253
Carol Stream Carol Stream 815 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,037
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,210
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,849
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,037
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,059
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	16,096
Real Estate Accumulated Depreciation	6,008
Carol Stream Carol Stream 640 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	876
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,200
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	495
Real Estate and Accumulated Depreciation, Carrying Amount of Land	876
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,695
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,571
Real Estate Accumulated Depreciation	1,534
Carol Stream Carol Stream 370 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,319
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,960
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,053
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,332
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,000
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,332
Real Estate Accumulated Depreciation	2,561
Carol Stream 250 Kehoe Blvd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,715
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,552
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	136
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,715
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,688
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,403
Real Estate Accumulated Depreciation	2,843
Carol Stream Carol Stream 720 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,362
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,759
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,020
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,083
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,058
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	22,141
Real Estate Accumulated Depreciation	6,592
Carson 20915 S Wilmington Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	24,350
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,934
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	545
Real Estate and Accumulated Depreciation, Carrying Amount of Land	24,350
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,479
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	32,829
Real Estate Accumulated Depreciation	346
Carteret 900 Federal Blvd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,088
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	24,712
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	36
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,088
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	24,748
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	26,836
Real Estate Accumulated Depreciation	4,503
Chino 13799 Monte Vista [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	14,046
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,236
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,252
Real Estate and Accumulated Depreciation, Carrying Amount of Land	14,046
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,488
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,534
Real Estate Accumulated Depreciation	6,983
Cincinnati Kenwood Commons 8230 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	663
Real Estate and Accumulated Depreciation, Initial Cost of Land	638
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	35
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,460
Real Estate and Accumulated Depreciation, Carrying Amount of Land	638
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,495
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,133
Real Estate Accumulated Depreciation	769
Cincinnati Kenwood Commons 8280 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	637
Real Estate and Accumulated Depreciation, Initial Cost of Land	638
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	275
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,059
Real Estate and Accumulated Depreciation, Carrying Amount of Land	638
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,334
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,972
Real Estate Accumulated Depreciation	1,241
Cincinnati World Park 5389 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	963
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,550
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,464
Real Estate and Accumulated Depreciation, Carrying Amount of Land	963
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,014
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,977
Real Estate Accumulated Depreciation	2,616
Cincinnati World Park 5232 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,078
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,074
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	818
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,077
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,893
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,970
Real Estate Accumulated Depreciation	2,139
Cincinnati World Park 5399 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	739
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,251
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	896
Real Estate and Accumulated Depreciation, Carrying Amount of Land	740
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,146
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,886
Real Estate Accumulated Depreciation	2,605
Cincinnati World Park 5265 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,118
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,569
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,480
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,118
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,049
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,167
Real Estate Accumulated Depreciation	5,889
City of Industry 825 Ajax Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	38,930
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	27,627
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	8,133
Real Estate and Accumulated Depreciation, Carrying Amount of Land	38,930
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	35,760
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	74,690
Real Estate Accumulated Depreciation	6,546
City of Industry 14508 Nelson Ave
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	26,162
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	25,210
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	950
Real Estate and Accumulated Depreciation, Carrying Amount of Land	26,162
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	26,160
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	52,322
Real Estate Accumulated Depreciation	1,147
College Park 2929 Roosevelt Highway
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	9,419
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,205
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	65
Real Estate and Accumulated Depreciation, Carrying Amount of Land	9,419
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,270
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	26,689
Real Estate Accumulated Depreciation	1,696
College Station Baylor College Station MOB [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,551
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	33,770
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,293
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,551
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	39,063
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	44,614
Real Estate Accumulated Depreciation	17,731
Columbus RGLP Intermodal North 9224 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,550
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	19,873
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	985
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,550
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	20,858
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	22,408
Real Estate Accumulated Depreciation	4,100
Columbus RGLP Intermodal S 9799 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	13,065
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	44,159
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	239
Real Estate and Accumulated Depreciation, Carrying Amount of Land	13,065
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	44,398
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	57,463
Real Estate Accumulated Depreciation	6,695
Coppell Freeport X [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,145
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	12,784
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,624
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,145
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,408
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,553
Real Estate Accumulated Depreciation	7,325
Coppell Point West 400 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,181
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	12,803
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	9,041
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,475
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	21,550
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	32,025
Real Estate Accumulated Depreciation	14,092
Coppell Point West 240 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,785
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,700
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	6,299
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,519
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,265
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,784
Real Estate Accumulated Depreciation	10,965
Coppell Point West 120 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,267
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,695
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	147
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,267
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,842
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,109
Real Estate Accumulated Depreciation	4,058
Corona 1283 Sherborn Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,231
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,575
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	428
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,231
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	14,003
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,234
Real Estate Accumulated Depreciation	4,690
Cranbury 311 Half Acre Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,600
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	14,106
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	317
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,600
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	14,423
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,023
Real Estate Accumulated Depreciation	4,886
Cranbury 315 Half Acre Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	14,100
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	29,188
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	6,998
Real Estate and Accumulated Depreciation, Carrying Amount of Land	14,100
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	36,186
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	50,286
Real Estate Accumulated Depreciation	10,481
Davenport Park 27 Distribution 210 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,143
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,052
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	600
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,198
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,597
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,795
Real Estate Accumulated Depreciation	2,698
Davenport Park 27 Distribution 220 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,374
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,066
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,850
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,502
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,788
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,290
Real Estate Accumulated Depreciation	6,664
Davie Westport Business Park 2555 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,040
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	951
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	69
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,040
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,020
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,060
Real Estate Accumulated Depreciation	366
Davie Westport Business Park 2501 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	943
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	629
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	239
Real Estate and Accumulated Depreciation, Carrying Amount of Land	943
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	868
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	1,811
Real Estate Accumulated Depreciation	401
Davie Westport Business Park 2525 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,048
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,774
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,472
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,048
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,246
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,294
Real Estate Accumulated Depreciation	2,725
Deer Park 801 Seaco Court [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,331
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,673
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	627
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,331
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,300
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,631
Real Estate Accumulated Depreciation	2,240
Des Moines 21202 24th Ave South [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	18,720
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	36,496
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	43
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,720
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	36,539
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	55,259
Real Estate Accumulated Depreciation	4,946
Des Moines 21402 24th Ave South [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	18,970
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	31,048
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,176
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,970
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	32,224
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	51,194
Real Estate Accumulated Depreciation	4,140
Duluth Sugarloaf 2775 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	560
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,298
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,185
Real Estate and Accumulated Depreciation, Carrying Amount of Land	560
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,483
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,043
Real Estate Accumulated Depreciation	2,989
Duluth Sugarloaf 3079 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	776
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,536
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,482
Real Estate and Accumulated Depreciation, Carrying Amount of Land	776
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,018
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,794
Real Estate Accumulated Depreciation	4,260
Duluth Sugarloaf 2855 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	765
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,618
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,906
Real Estate and Accumulated Depreciation, Carrying Amount of Land	765
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,524
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,289
Real Estate Accumulated Depreciation	2,301
Duluth Sugarloaf 6655 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,651
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,804
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	879
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,651
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,683
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,334
Real Estate Accumulated Depreciation	3,591
Duluth 2625 Pinemeadow Court [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	732
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,096
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	889
Real Estate and Accumulated Depreciation, Carrying Amount of Land	732
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,985
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,717
Real Estate Accumulated Depreciation	1,389
Duluth 2660 Pinemeadow Court [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	459
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,670
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	118
Real Estate and Accumulated Depreciation, Carrying Amount of Land	459
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,788
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,247
Real Estate Accumulated Depreciation	699
Duluth 2450 Satellite Boulevard [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	473
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,730
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	414
Real Estate and Accumulated Depreciation, Carrying Amount of Land	473
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,144
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,617
Real Estate Accumulated Depreciation	886
DuPont 2700 Center Drive [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	34,413
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	37,943
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	520
Real Estate and Accumulated Depreciation, Carrying Amount of Land	34,582
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	38,294
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	72,876
Real Estate Accumulated Depreciation	16,473
DuPont 2800 Center Drive [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	21,025
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	48,060
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,794
Real Estate and Accumulated Depreciation, Carrying Amount of Land	21,025
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	49,854
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	70,879
Real Estate Accumulated Depreciation	2,420
DuPont 2900 Center Drive
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	34,692
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	71,066
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	34
Real Estate and Accumulated Depreciation, Carrying Amount of Land	34,692
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	71,100
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	105,792
Real Estate Accumulated Depreciation	3,872
DuPont 2980 Center Drive
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	15,956
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,527
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	(63)
Real Estate and Accumulated Depreciation, Carrying Amount of Land	15,956
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,464
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	33,420
Real Estate Accumulated Depreciation	861
DuPont Center Drive Trailer Lot [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,252
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,253
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,253
Real Estate Accumulated Depreciation	80
Durham Centerpoint Raleigh 1805 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,574
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,339
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,260
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,574
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,599
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,173
Real Estate Accumulated Depreciation	6,791
Durham Centerpoint Raleigh 1757 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,607
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,722
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	125
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,607
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,847
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,454
Real Estate Accumulated Depreciation	2,990
Eagan Apollo 920 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	866
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,234
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,036
Real Estate and Accumulated Depreciation, Carrying Amount of Land	895
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,241
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,136
Real Estate Accumulated Depreciation	3,178
Eagan Apollo 940 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	474
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,092
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	784
Real Estate and Accumulated Depreciation, Carrying Amount of Land	474
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,876
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,350
Real Estate Accumulated Depreciation	1,624
Eagan Apollo 950 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,432
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,988
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	127
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,432
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,115
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,547
Real Estate Accumulated Depreciation	3,333
Eagan 2015 Silver Bell Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,740
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,180
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,997
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,740
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,177
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,917
Real Estate Accumulated Depreciation	4,135
Eagan Trapp 1279 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	671
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,441
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,054
Real Estate and Accumulated Depreciation, Carrying Amount of Land	691
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,475
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,166
Real Estate Accumulated Depreciation	2,494
Eagan Trapp 1245 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,250
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,424
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,784
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,250
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,208
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,458
Real Estate Accumulated Depreciation	4,048
East Point Camp Creek 2400 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	296
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	627
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,267
Real Estate and Accumulated Depreciation, Carrying Amount of Land	300
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,890
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,190
Real Estate Accumulated Depreciation	1,517
East Point Camp Creek 2600 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	364
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	824
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,702
Real Estate and Accumulated Depreciation, Carrying Amount of Land	368
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,522
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,890
Real Estate Accumulated Depreciation	1,416
East Point Camp Creek 3201 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,937
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,426
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,901
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,937
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,327
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,264
Real Estate Accumulated Depreciation	4,610
East Point Camp Creek 3900 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	287
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,919
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,191
Real Estate and Accumulated Depreciation, Carrying Amount of Land	286
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,111
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,397
Real Estate Accumulated Depreciation	2,487
East Point Camp Creek 3909 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,403
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,309
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	18,177
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,583
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,306
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,889
Real Estate Accumulated Depreciation	6,660
East Point Camp Creek 3000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,163
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,020
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,450
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,258
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,375
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,633
Real Estate Accumulated Depreciation	1,942
East Point Camp Creek 4800 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,476
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,906
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,380
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,740
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,022
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,762
Real Estate Accumulated Depreciation	3,944
East Point Camp Creek 4100 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,130
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,115
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	553
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,327
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,471
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,798
Real Estate Accumulated Depreciation	4,292
East Point Camp Creek 3700 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,878
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,016
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	100
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,883
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,111
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,994
Real Estate Accumulated Depreciation	1,526
East Point Camp Creek 4909 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,807
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	14,321
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,826
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,851
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,103
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	25,954
Real Estate Accumulated Depreciation	6,534
East Point Camp Creek 3707 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,282
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	20,538
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,282
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	20,541
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	27,823
Real Estate Accumulated Depreciation	7,128
East Point Camp Creek 4505 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,505
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,697
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,708
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,505
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,405
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	17,910
Real Estate Accumulated Depreciation	2,991
East Point Camp Creek 4900 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,244
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,758
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	778
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,244
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,536
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,780
Real Estate Accumulated Depreciation	1,359
East Point Camp Creek 4850
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,428
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,169
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	197
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,428
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,366
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,794
Real Estate Accumulated Depreciation	911
Easton 33 Logistics Park 1610 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	24,752
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	55,500
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,982
Real Estate and Accumulated Depreciation, Carrying Amount of Land	24,896
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	57,338
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	82,234
Real Estate Accumulated Depreciation	19,386
Easton 33 Logistics Park 1611 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	17,979
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	20,882
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,970
Real Estate and Accumulated Depreciation, Carrying Amount of Land	17,979
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	22,852
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	40,831
Real Estate Accumulated Depreciation	8,385
Easton 33 Logistics Park 1620 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	29,786
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	33,023
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,352
Real Estate and Accumulated Depreciation, Carrying Amount of Land	29,791
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	34,370
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	64,161
Real Estate Accumulated Depreciation	7,449
Elk Grove Village 1717 Busse Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,602
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	18,065
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	494
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,602
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,559
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	22,161
Real Estate Accumulated Depreciation	6,631
Elk Grove Village 901 Chase Avenue
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,405
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,961
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	39
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,405
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,000
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,405
Real Estate Accumulated Depreciation	1,101
Ellenwood 2529 Old Anvil Block [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,664
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,265
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	446
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,664
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,711
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,375
Real Estate Accumulated Depreciation	4,133
Fairfield Union Centre Industrial 6019 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,635
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,576
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,534
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,635
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,110
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,745
Real Estate Accumulated Depreciation	6,111
Fairfield Union Centre Industrial 5855 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,009
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	15,387
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,063
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,009
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,450
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	20,459
Real Estate Accumulated Depreciation	4,745
Fairfield Fairfield Logistics Ctr 7940 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,679
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,237
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,180
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,689
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,407
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,096
Real Estate Accumulated Depreciation	1,889
Flower Mound Lakeside Ranch 550 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,619
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	19,299
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	488
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,619
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,787
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,406
Real Estate Accumulated Depreciation	6,730
Flower Mound Lakeside Ranch 1001 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,662
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	23,061
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,317
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,662
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	25,378
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	31,040
Real Estate Accumulated Depreciation	3,724
Flower Mound Lakeside Ranch 350 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,665
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,105
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,312
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,665
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	14,417
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,082
Real Estate Accumulated Depreciation	1,452
Fontana 14970 Jurupa Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	17,306
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	17,306
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	17,306
Real Estate Accumulated Depreciation	1,158
Fontana 7953 Cherry Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,704
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	12,521
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	824
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,704
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,345
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	20,049
Real Estate Accumulated Depreciation	3,305
Fontana 9988 Redwood Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,755
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	16,326
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	695
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,755
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,021
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,776
Real Estate Accumulated Depreciation	4,692
Fontana 11250 Poplar Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	18,138
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	33,586
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,138
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	33,586
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	51,724
Real Estate Accumulated Depreciation	8,206
Fontana 16171 Santa Ana Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	13,681
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,331
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	112
Real Estate and Accumulated Depreciation, Carrying Amount of Land	13,681
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,443
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	27,124
Real Estate Accumulated Depreciation	2,377
Fort Lauderdale Interstate 95 2200 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	9,332
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,401
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,123
Real Estate and Accumulated Depreciation, Carrying Amount of Land	9,332
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,524
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,856
Real Estate Accumulated Depreciation	3,319
Fort Lauderdale Interstate 95 2100 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,948
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	18,681
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,948
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,681
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	29,629
Real Estate Accumulated Depreciation	3,513
Fort Worth Riverpark 3300 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,673
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,633
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	856
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,674
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,488
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,162
Real Estate Accumulated Depreciation	5,016
Franklin Aspen Grove Business 277 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	936
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,919
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,954
Real Estate and Accumulated Depreciation, Carrying Amount of Land	936
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,873
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,809
Real Estate Accumulated Depreciation	3,852
Franklin Aspen Grove Business 320 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,151
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,824
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,628
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,151
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,452
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,603
Real Estate Accumulated Depreciation	4,065
Franklin Aspen Grove Business 305 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	970
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,677
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,300
Real Estate and Accumulated Depreciation, Carrying Amount of Land	970
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,977
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,947
Real Estate Accumulated Depreciation	3,245
Franklin Aspen Grove Business 400 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	492
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,677
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,218
Real Estate and Accumulated Depreciation, Carrying Amount of Land	492
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,895
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,387
Real Estate Accumulated Depreciation	1,298
Franklin Brentwood South Business 119 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	569
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,063
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,625
Real Estate and Accumulated Depreciation, Carrying Amount of Land	569
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,688
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,257
Real Estate Accumulated Depreciation	1,485
Franklin Brentwood South Business 121 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	445
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,563
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	614
Real Estate and Accumulated Depreciation, Carrying Amount of Land	445
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,177
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,622
Real Estate Accumulated Depreciation	1,124
Franklin Brentwood South Business 123 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	489
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	962
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,347
Real Estate and Accumulated Depreciation, Carrying Amount of Land	489
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,309
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,798
Real Estate Accumulated Depreciation	1,391
Franklin Park 11501 West Irving Park Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,900
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,702
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,835
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,900
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,537
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,437
Real Estate Accumulated Depreciation	2,321
Fullerton 500 Burning Tree Rd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,336
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,435
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	42
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,336
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,477
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,813
Real Estate Accumulated Depreciation	1,269
Fullerton 700 Burning Tree Rd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,001
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,915
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,001
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,915
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,916
Real Estate Accumulated Depreciation	869
Garner Greenfield North 600 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	519
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,448
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	536
Real Estate and Accumulated Depreciation, Carrying Amount of Land	520
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,983
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,503
Real Estate Accumulated Depreciation	1,224
Garner Greenfield North 700 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	407
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,054
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	295
Real Estate and Accumulated Depreciation, Carrying Amount of Land	408
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,348
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,756
Real Estate Accumulated Depreciation	919
Garner Greenfield North 800 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	381
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,772
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	858
Real Estate and Accumulated Depreciation, Carrying Amount of Land	383
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,628
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,011
Real Estate Accumulated Depreciation	2,232
Garner Greenfield North 900 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	367
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,792
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,764
Real Estate and Accumulated Depreciation, Carrying Amount of Land	370
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,553
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,923
Real Estate Accumulated Depreciation	2,746
Garner Greenfield North 1000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,897
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,026
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	96
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,979
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,040
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,019
Real Estate Accumulated Depreciation	2,323
Garner Greenfield North 1001 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,517
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,494
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,523
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,610
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,924
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,534
Real Estate Accumulated Depreciation	2,462
Garner N. Greenfield Pkwy Ground DCLP [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	189
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	222
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	10
Real Estate and Accumulated Depreciation, Carrying Amount of Land	189
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	232
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	421
Real Estate Accumulated Depreciation	259
Garner Greenfield North 1100
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,870
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,623
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	(1)
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,870
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,622
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,492
Real Estate Accumulated Depreciation	514
Garner Greenfield North 1201
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,462
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,867
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,292
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,462
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,159
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,621
Real Estate Accumulated Depreciation	967
Geneva 1800 Averill Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,189
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,582
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	7,640
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,778
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,633
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	22,411
Real Estate Accumulated Depreciation	6,317
Gibsonton Tampa Regional Ind Park 13111 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,547
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,662
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,011
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,547
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,673
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,220
Real Estate Accumulated Depreciation	3,515
Gibsonton Tampa Regional Ind Park 13040 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	13,184
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,475
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,987
Real Estate and Accumulated Depreciation, Carrying Amount of Land	13,184
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,462
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	29,646
Real Estate Accumulated Depreciation	3,468
Glendale Heights 990 North Avenue [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	12,144
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,933
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,854
Real Estate and Accumulated Depreciation, Carrying Amount of Land	12,324
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,607
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,931
Real Estate Accumulated Depreciation	1,850
Grand Prairie Grand Lakes 4003 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,206
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,124
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	14,038
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,361
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	22,007
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	26,368
Real Estate Accumulated Depreciation	6,487
Grand Prairie Grand Lakes 3953 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	11,853
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,851
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	13,674
Real Estate and Accumulated Depreciation, Carrying Amount of Land	11,853
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	25,525
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	37,378
Real Estate Accumulated Depreciation	16,448
Grand Prairie 1803 W. Pioneer Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,158
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	15,389
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	97
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,158
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,486
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,644
Real Estate Accumulated Depreciation	5,203
Grand Prairie Grand Lakes 4053 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,468
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,599
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,242
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,468
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,841
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,309
Real Estate Accumulated Depreciation	1,656
Groveport Groveport Commerce Center 6200 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,049
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,123
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,816
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,049
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,939
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,988
Real Estate Accumulated Depreciation	4,685
Groveport Groveport Commerce Center 6300 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	510
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,395
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,321
Real Estate and Accumulated Depreciation, Carrying Amount of Land	510
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,716
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,226
Real Estate Accumulated Depreciation	2,507
Groveport Groveport Commerce Center 6295 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	435
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,435
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,160
Real Estate and Accumulated Depreciation, Carrying Amount of Land	435
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,595
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,030
Real Estate Accumulated Depreciation	3,983
Groveport Groveport Commerce Center 6405 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,207
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,322
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	992
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,207
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,314
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,521
Real Estate Accumulated Depreciation	4,780
Groveport RGLP North 2842 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,680
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	22,366
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	843
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,680
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	23,209
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	28,889
Real Estate Accumulated Depreciation	6,905
Hebron Hebron 2305 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,789
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,797
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	18,591
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,789
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	29,388
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	33,177
Real Estate Accumulated Depreciation	20,695
Hebron Hebron 2285 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,790
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,730
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,138
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,813
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,845
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,658
Real Estate Accumulated Depreciation	8,333
Hebron Skyport 2350 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	898
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,777
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,423
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,428
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,670
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,098
Real Estate Accumulated Depreciation	2,415
Hebron Skyport 2250 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,190
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,680
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,714
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,393
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,191
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,584
Real Estate Accumulated Depreciation	3,562
Hebron Skyport 2245 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,714
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,305
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,167
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,714
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,472
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,186
Real Estate Accumulated Depreciation	3,637
Hebron Skyport 2265 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,153
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,038
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	846
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,153
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,884
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,037
Real Estate Accumulated Depreciation	2,783
Hebron Southpark 1990 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	366
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,701
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2
Real Estate and Accumulated Depreciation, Carrying Amount of Land	366
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,703
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,069
Real Estate Accumulated Depreciation	1,373
Hialeah Countyline Corporate Park 3740 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	18,934
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,560
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	45
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,934
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,605
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	30,539
Real Estate Accumulated Depreciation	3,331
Hialeah Countyline Corporate Park 3780 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	21,445
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	22,144
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	166
Real Estate and Accumulated Depreciation, Carrying Amount of Land	21,445
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	22,310
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	43,755
Real Estate Accumulated Depreciation	4,379
Hialeah Countyline Corporate Park 3760 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	32,802
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	52,633
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	153
Real Estate and Accumulated Depreciation, Carrying Amount of Land	32,802
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	52,786
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	85,588
Real Estate Accumulated Depreciation	8,949
Hialeah Countyline Corporate Park 3840 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	15,906
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	14,953
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	266
Real Estate and Accumulated Depreciation, Carrying Amount of Land	15,906
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,219
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	31,125
Real Estate Accumulated Depreciation	3,202
Hialeah Countyline Corporate Park 3850 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	18,270
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,567
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	179
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,270
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,746
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	36,016
Real Estate Accumulated Depreciation	2,549
Hialeah Countyline Corporate Park 3870 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	17,605
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,068
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	91
Real Estate and Accumulated Depreciation, Carrying Amount of Land	17,605
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,159
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	34,764
Real Estate Accumulated Depreciation	2,408
Hialeah Gardens Miami Ind Logistics Ctr 15002 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,671
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	14,071
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,828
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,671
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,899
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	26,570
Real Estate Accumulated Depreciation	4,130
Hialeah Gardens Miami Ind Logistics Ctr 14802 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,800
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	14,236
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,635
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,800
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,871
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	28,671
Real Estate Accumulated Depreciation	4,574
Hialeah Gardens Miami Ind Logistics Ctr 10701 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	13,048
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,204
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,366
Real Estate and Accumulated Depreciation, Carrying Amount of Land	13,048
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,570
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	32,618
Real Estate Accumulated Depreciation	5,432
Hopkins Cornerstone 401 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,454
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,623
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,462
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,454
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,085
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,539
Real Estate Accumulated Depreciation	6,062
Houston Point North 8210 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,125
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,178
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,293
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,125
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,471
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,596
Real Estate Accumulated Depreciation	3,373
Houston Point North 8120 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,210
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,108
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,616
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,581
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,353
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,934
Real Estate Accumulated Depreciation	3,266
Houston Point North 8111 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,957
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	15,093
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	642
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,957
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,735
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,692
Real Estate Accumulated Depreciation	5,631
Houston Point North 8411 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,333
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,946
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,271
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,333
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,217
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,550
Real Estate Accumulated Depreciation	3,246
Houston Westland 8323 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,183
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,574
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,675
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,417
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,015
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,432
Real Estate Accumulated Depreciation	4,591
Houston Westland 13788 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,246
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,338
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	989
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,246
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,327
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,573
Real Estate Accumulated Depreciation	5,314
Houston Gateway Northwest 20710 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,204
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,028
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,167
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,204
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,195
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,399
Real Estate Accumulated Depreciation	5,217
Houston Gateway Northwest 20702 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,981
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,122
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,173
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,981
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,295
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,276
Real Estate Accumulated Depreciation	1,896
Houston Gateway Northwest 20502 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,987
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,342
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	21
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,987
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,363
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,350
Real Estate Accumulated Depreciation	2,206
Houston 22008 N Berwick Dr [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,981
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,949
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	905
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,981
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,854
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,835
Real Estate Accumulated Depreciation	1,611
Houston Gateway Northwest 20510 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,787
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,501
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	792
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,787
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,293
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,080
Real Estate Accumulated Depreciation	3,098
Houston Point North 8221 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,503
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,357
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,441
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,503
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,798
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,301
Real Estate Accumulated Depreciation	2,117
Huntley 14100 Weber Drive [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,539
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	34,069
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	78
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,539
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	34,147
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	41,686
Real Estate Accumulated Depreciation	8,068
Hutchins 801 Wintergreen Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,288
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,115
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,482
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,288
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,597
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,885
Real Estate Accumulated Depreciation	3,926
Hutchins Prime Pointe 1005 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,865
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	19,420
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	59
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,865
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,479
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	25,344
Real Estate Accumulated Depreciation	5,340
Hutchins Prime Pointe 1015 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,356
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	16,319
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,257
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,170
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,762
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	26,932
Real Estate Accumulated Depreciation	3,704
Indianapolis Park 100 5550 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,171
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	12,611
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	678
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,424
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,036
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,460
Real Estate Accumulated Depreciation	8,704
Indianapolis Park 100 Bldg 121 Land Lease [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3
Real Estate Accumulated Depreciation	0
Indianapolis West 79th St. Parking Lot LL [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	164
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	164
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	164
Real Estate Accumulated Depreciation	0
Indianapolis North Airport Park 7750 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,620
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,279
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	810
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,620
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,089
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,709
Real Estate Accumulated Depreciation	2,168
Indianapolis Park 100 5010 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	621
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,687
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	568
Real Estate and Accumulated Depreciation, Carrying Amount of Land	621
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,255
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,876
Real Estate Accumulated Depreciation	1,144
Indianapolis Park 100 5134 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	578
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,904
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	299
Real Estate and Accumulated Depreciation, Carrying Amount of Land	578
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,203
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,781
Real Estate Accumulated Depreciation	867
Indianapolis Park 100 5302 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	384
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	998
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	325
Real Estate and Accumulated Depreciation, Carrying Amount of Land	384
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,323
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	1,707
Real Estate Accumulated Depreciation	604
Indianapolis Park 100 5303 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	384
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,515
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	348
Real Estate and Accumulated Depreciation, Carrying Amount of Land	384
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,863
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,247
Real Estate Accumulated Depreciation	772
Indianapolis Park 100 7225 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,037
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,332
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	998
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,037
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	14,330
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,367
Real Estate Accumulated Depreciation	5,667
Indianapolis Park 100 4925 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,152
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,569
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,319
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,152
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,888
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,040
Real Estate Accumulated Depreciation	4,471
Indianapolis 8711 North River Crossing Blvd
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	17,387
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,211
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	24,259
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	70
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,211
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	24,329
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	25,540
Real Estate Accumulated Depreciation	2,108
Katy 3900 Peek Road
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,584
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	14,385
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,645
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,584
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,030
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	27,614
Real Estate Accumulated Depreciation	1,351
Kent 21214 66th Ave South
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,813
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,767
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,813
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,767
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,580
Real Estate Accumulated Depreciation	662
Kutztown West Hills 9645 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	15,340
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	47,981
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	623
Real Estate and Accumulated Depreciation, Carrying Amount of Land	15,340
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	48,604
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	63,944
Real Estate Accumulated Depreciation	16,192
Kutztown West Hills 9677 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,218
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,029
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	68
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,218
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,097
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,315
Real Estate Accumulated Depreciation	4,482
La Mirada 16501 Trojan Way [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	23,503
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	30,945
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	225
Real Estate and Accumulated Depreciation, Carrying Amount of Land	23,503
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	31,170
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	54,673
Real Estate Accumulated Depreciation	11,572
La Mirada 16301 Trojan Way [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	39,645
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	22,164
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	45
Real Estate and Accumulated Depreciation, Carrying Amount of Land	39,645
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	22,209
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	61,854
Real Estate Accumulated Depreciation	3,615
Lancaster Lancaster 2820 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	9,786
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	22,270
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	8
Real Estate and Accumulated Depreciation, Carrying Amount of Land	9,786
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	22,278
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	32,064
Real Estate Accumulated Depreciation	4,953
LaPorte Bayport Container Lot [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,334
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,041
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,375
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,375
Real Estate Accumulated Depreciation	0
Lawrenceville 175 Alcovy Industrial Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,480
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,935
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	45
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,487
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,973
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,460
Real Estate Accumulated Depreciation	1,268
Lebanon Lebanon Park 185 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	177
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,664
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,554
Real Estate and Accumulated Depreciation, Carrying Amount of Land	177
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,218
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,395
Real Estate Accumulated Depreciation	6,116
Lebanon Lebanon Park 322 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	340
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,230
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,479
Real Estate and Accumulated Depreciation, Carrying Amount of Land	340
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,709
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,049
Real Estate Accumulated Depreciation	4,360
Lebanon Lebanon Park 500 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	816
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,741
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,471
Real Estate and Accumulated Depreciation, Carrying Amount of Land	815
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,213
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,028
Real Estate Accumulated Depreciation	5,821
Lebanon Lebanon Park 210 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	156
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,427
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	109
Real Estate and Accumulated Depreciation, Carrying Amount of Land	156
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,536
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,692
Real Estate Accumulated Depreciation	1,379
Lebanon Lebanon Park 311 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	349
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,604
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	767
Real Estate and Accumulated Depreciation, Carrying Amount of Land	350
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,370
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,720
Real Estate Accumulated Depreciation	3,380
Lebanon Park 840 West 14840 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,367
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,449
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,907
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,367
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,356
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,723
Real Estate Accumulated Depreciation	4,897
Lebanon Park 840 East 1009 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,731
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	12,462
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,782
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,852
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	14,123
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,975
Real Estate Accumulated Depreciation	7,216
Linden Legacy Commerce Center 801 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	22,134
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	23,645
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,198
Real Estate and Accumulated Depreciation, Carrying Amount of Land	22,134
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	25,843
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	47,977
Real Estate Accumulated Depreciation	6,905
Linden Legacy Commerce Center 301 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,933
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,575
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	335
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,933
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,910
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,843
Real Estate Accumulated Depreciation	2,845
Linden Legacy Commerce Center 901 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	25,935
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	19,806
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,311
Real Estate and Accumulated Depreciation, Carrying Amount of Land	25,937
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	22,115
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	48,052
Real Estate Accumulated Depreciation	6,802
Lithia Springs 2601 Skyview Drive [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,282
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,534
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	58
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,282
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,592
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,874
Real Estate Accumulated Depreciation	2,816
Lockport Lockport 16328 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,339
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,446
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	460
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,339
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,906
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,245
Real Estate Accumulated Depreciation	3,659
Lockport Lockport 16410 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,677
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	16,117
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	285
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,677
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,402
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,079
Real Estate Accumulated Depreciation	3,249
Lockport Lockport 16508 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,520
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,472
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,616
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,520
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	20,088
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,608
Real Estate Accumulated Depreciation	4,362
Lockbourne Creekside 2120 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,868
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	15,406
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,031
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,868
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,437
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,305
Real Estate Accumulated Depreciation	6,312
Lockbourne Creekside 4555 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,947
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,453
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	294
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,947
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,747
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,694
Real Estate Accumulated Depreciation	4,339
Lodi 65 Industrial Road
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	20,063
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	899
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	40
Real Estate and Accumulated Depreciation, Carrying Amount of Land	20,063
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	939
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,002
Real Estate Accumulated Depreciation	106
Logan Township 1130 Commerce Boulevard [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,770
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	18,699
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,158
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,770
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,857
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	23,627
Real Estate Accumulated Depreciation	6,240
Long Beach 3700 Cover Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,280
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,954
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,280
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,954
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,234
Real Estate Accumulated Depreciation	3,464
Lynwood 2700 East Imperial Highway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	15,230
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,865
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	56
Real Estate and Accumulated Depreciation, Carrying Amount of Land	15,230
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,921
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	33,151
Real Estate Accumulated Depreciation	6,338
Lynwood 11600 Alameda Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,705
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,979
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,949
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,958
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,675
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	23,633
Real Estate Accumulated Depreciation	2,503
Manteca 600 Spreckels Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,851
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	18,985
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	416
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,851
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,401
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,252
Real Estate Accumulated Depreciation	7,117
Maple Grove Arbor Lakes 10500 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,803
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,891
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,090
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,912
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,872
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,784
Real Estate Accumulated Depreciation	1,975
Maple Grove Arbor Lakes 10501 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,363
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,713
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	85
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,363
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,798
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	23,161
Real Estate Accumulated Depreciation	2,727
Maple Grove Park 81 10750 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,971
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,262
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,971
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,263
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,234
Real Estate Accumulated Depreciation	1,143
McDonough 120 Declaration Dr [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	615
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,117
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	733
Real Estate and Accumulated Depreciation, Carrying Amount of Land	615
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,850
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,465
Real Estate Accumulated Depreciation	4,925
McDonough 250 Declaration Dr [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,273
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,910
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	7,946
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,416
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,713
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,129
Real Estate Accumulated Depreciation	8,521
Mechanicsburg 500 Independence Avenue [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,494
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	15,007
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	883
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,499
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,885
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	20,384
Real Estate Accumulated Depreciation	5,099
Melrose 1600 North 25th Avenue [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,907
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,516
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	299
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,907
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,815
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	23,722
Real Estate Accumulated Depreciation	7,744
Miami 9601 NW 112 Ave - Dade Paper [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	11,626
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	14,651
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	8
Real Estate and Accumulated Depreciation, Carrying Amount of Land	11,626
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	14,659
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	26,285
Real Estate Accumulated Depreciation	5,599
Minooka Midpoint Distribution 801 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,282
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	30,802
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	627
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,282
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	31,429
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	37,711
Real Estate Accumulated Depreciation	9,838
Modesto 1000 Oates Court [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,115
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	16,944
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	428
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,115
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,372
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	27,487
Real Estate Accumulated Depreciation	8,440
Monroe Twp. 773 Cranbury South River Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,001
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	36,527
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	199
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,001
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	36,726
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	39,727
Real Estate Accumulated Depreciation	7,609
Moreno Valley 17791 Perris Boulevard [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	67,806
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	74,531
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	38
Real Estate and Accumulated Depreciation, Carrying Amount of Land	67,806
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	74,569
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	142,375
Real Estate Accumulated Depreciation	14,331
Moreno Valley 15810 Heacock Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	9,727
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	18,882
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,770
Real Estate and Accumulated Depreciation, Carrying Amount of Land	9,727
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	21,652
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	31,379
Real Estate Accumulated Depreciation	3,389
Moreno Valley 24975 Nandina Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	13,322
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,214
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	214
Real Estate and Accumulated Depreciation, Carrying Amount of Land	13,322
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	17,428
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	30,750
Real Estate Accumulated Depreciation	2,172
Moreno Valley 24960 San Michele [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,336
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,699
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,336
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,699
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	22,035
Real Estate Accumulated Depreciation	2,430
Morgans Point Barbours Cut 1200 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	889
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,140
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	90
Real Estate and Accumulated Depreciation, Carrying Amount of Land	889
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,230
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,119
Real Estate Accumulated Depreciation	2,661
Morgans Point Barbours Cut 1000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	868
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,311
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	168
Real Estate and Accumulated Depreciation, Carrying Amount of Land	868
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,479
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,347
Real Estate Accumulated Depreciation	2,756
Morrisville Perimeter Park 3000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	482
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,982
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,688
Real Estate and Accumulated Depreciation, Carrying Amount of Land	491
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,661
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,152
Real Estate Accumulated Depreciation	2,018
Morrisville Perimeter Park 2900 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	235
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,314
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,644
Real Estate and Accumulated Depreciation, Carrying Amount of Land	241
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,952
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,193
Real Estate Accumulated Depreciation	1,662
Morrisville Perimeter Park 2800 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	777
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,151
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,511
Real Estate and Accumulated Depreciation, Carrying Amount of Land	791
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,648
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,439
Real Estate Accumulated Depreciation	3,039
Morrisville Perimeter Park 2700 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	662
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,081
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,270
Real Estate and Accumulated Depreciation, Carrying Amount of Land	662
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,351
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,013
Real Estate Accumulated Depreciation	1,761
Morrisville Woodlake 100 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	633
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,183
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,080
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,132
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,764
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,896
Real Estate Accumulated Depreciation	2,824
Morrisville Woodlake 101 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	615
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,868
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	530
Real Estate and Accumulated Depreciation, Carrying Amount of Land	615
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,398
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,013
Real Estate Accumulated Depreciation	2,411
Morrisville Woodlake 200 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	357
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,688
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	932
Real Estate and Accumulated Depreciation, Carrying Amount of Land	357
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,620
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,977
Real Estate Accumulated Depreciation	2,539
Morrisville Woodlake 501 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	640
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,477
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,032
Real Estate and Accumulated Depreciation, Carrying Amount of Land	640
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,509
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,149
Real Estate Accumulated Depreciation	3,283
Morrisville Woodlake 400 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	390
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,055
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	443
Real Estate and Accumulated Depreciation, Carrying Amount of Land	390
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,498
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	1,888
Real Estate Accumulated Depreciation	685
Myerstown Central Logistics Park 100
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	16,936
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	29,564
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	83
Real Estate and Accumulated Depreciation, Carrying Amount of Land	16,936
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	29,647
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	46,583
Real Estate Accumulated Depreciation	2,742
Naperville 1835 W. Jefferson [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,209
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,921
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,651
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,213
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,568
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,781
Real Estate Accumulated Depreciation	4,182
Naperville 175 Ambassador Dr [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,822
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,252
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	11
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,822
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,263
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,085
Real Estate Accumulated Depreciation	4,540
Naperville 1860 W. Jefferson [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,016
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	35,581
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,113
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,016
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	36,694
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	43,710
Real Estate Accumulated Depreciation	16,272
Nashville Airpark East 800 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,564
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,129
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,985
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,564
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,114
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,678
Real Estate Accumulated Depreciation	1,814
Nashville Nashville Business 3300 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	936
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,773
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,914
Real Estate and Accumulated Depreciation, Carrying Amount of Land	936
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,687
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,623
Real Estate Accumulated Depreciation	3,822
Nashville Nashville Business 3438 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,048
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,165
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,221
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,048
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,386
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,434
Real Estate Accumulated Depreciation	4,758
Nashville Four-Forty Business 700 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	938
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,354
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	706
Real Estate and Accumulated Depreciation, Carrying Amount of Land	938
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,060
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,998
Real Estate Accumulated Depreciation	4,036
Nashville Four-Forty Business 684 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,812
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,561
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,207
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,812
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,768
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,580
Real Estate Accumulated Depreciation	4,923
Nashville Four-Forty Business 782 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,522
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,820
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,796
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,522
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,616
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,138
Real Estate Accumulated Depreciation	3,705
Nashville Four-Forty Business 784 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	471
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,153
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,698
Real Estate and Accumulated Depreciation, Carrying Amount of Land	471
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,851
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,322
Real Estate Accumulated Depreciation	2,404
Nashville Four-Forty Business 701 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	997
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,763
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	107
Real Estate and Accumulated Depreciation, Carrying Amount of Land	997
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,870
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,867
Real Estate Accumulated Depreciation	1,838
Newark 429 Delancy Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	60,393
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	85,359
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	959
Real Estate and Accumulated Depreciation, Carrying Amount of Land	60,486
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	86,225
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	146,711
Real Estate Accumulated Depreciation	8,090
Northlake Distribution 635 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,721
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,008
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,574
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,721
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,582
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	16,303
Real Estate Accumulated Depreciation	4,991
Northlake Distribution 599 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,823
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,685
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,400
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,823
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,085
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,908
Real Estate Accumulated Depreciation	2,988
Northlake 200 Champion Way [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,554
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,528
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	832
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,554
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,360
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,914
Real Estate Accumulated Depreciation	4,576
Oakland 1905 Dennison Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,063
Real Estate and Accumulated Depreciation, Initial Cost of Land	12,118
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	20,518
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2
Real Estate and Accumulated Depreciation, Carrying Amount of Land	12,118
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	20,520
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	32,638
Real Estate Accumulated Depreciation	1,131
Oakland 955 Kennedy Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	9,519
Real Estate and Accumulated Depreciation, Initial Cost of Land	13,053
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,764
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	13,053
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,764
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	22,817
Real Estate Accumulated Depreciation	736
Orange 210 W Baywood Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,066
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,515
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,816
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,066
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,331
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,397
Real Estate Accumulated Depreciation	1,049
Orlando 2502 Lake Orange [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,331
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,235
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	319
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,331
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,554
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,885
Real Estate Accumulated Depreciation	1,698
Orlando Parksouth Distribution 2500 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	565
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,360
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,714
Real Estate and Accumulated Depreciation, Carrying Amount of Land	570
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,069
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,639
Real Estate Accumulated Depreciation	3,287
Orlando Parksouth Distribution 2490 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	493
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,170
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	654
Real Estate and Accumulated Depreciation, Carrying Amount of Land	498
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,819
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,317
Real Estate Accumulated Depreciation	2,764
Orlando Parksouth Distribution 2491 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	593
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,150
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,963
Real Estate and Accumulated Depreciation, Carrying Amount of Land	597
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,109
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,706
Real Estate Accumulated Depreciation	2,719
Orlando Parksouth Distribution 9600 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	649
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,111
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,128
Real Estate and Accumulated Depreciation, Carrying Amount of Land	653
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,235
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,888
Real Estate Accumulated Depreciation	3,091
Orlando Parksouth Distribution 9550 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,030
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,207
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,521
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,035
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,723
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,758
Real Estate Accumulated Depreciation	3,813
Orlando Parksouth Distribution 2481 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	725
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,245
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,567
Real Estate and Accumulated Depreciation, Carrying Amount of Land	730
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,807
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,537
Real Estate Accumulated Depreciation	2,142
Orlando Parksouth Distribution 9592 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	623
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,646
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	99
Real Estate and Accumulated Depreciation, Carrying Amount of Land	623
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,745
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,368
Real Estate Accumulated Depreciation	845
Orlando Crossroads Business Park 301 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,653
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,804
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,070
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,653
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,874
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,527
Real Estate Accumulated Depreciation	2,891
Orlando Crossroads Business Park 601 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,701
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,571
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,059
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,701
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,630
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,331
Real Estate Accumulated Depreciation	3,244
Orlando 7133 Municipal Drive [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,817
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,820
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	29
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,817
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,849
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,666
Real Estate Accumulated Depreciation	1,296
Otsego Gateway North 6301 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,543
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,515
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	6,009
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,783
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,284
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,067
Real Estate Accumulated Depreciation	2,828
Otsego Gateway North 6651 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,667
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	16,249
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	129
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,748
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,297
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	20,045
Real Estate Accumulated Depreciation	4,548
Otsego Gateway North 6701 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,266
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,996
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	237
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,374
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,125
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,499
Real Estate Accumulated Depreciation	3,219
Otsego Gateway North 6651 Exp Land [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,521
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,521
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	1,521
Real Estate Accumulated Depreciation	536
Pasadena Interport 13001 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,715
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	30,961
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	781
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,655
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	31,802
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	37,457
Real Estate Accumulated Depreciation	10,451
Pasadena Bayport 4035 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,772
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,255
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	188
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,772
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,443
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,215
Real Estate Accumulated Depreciation	2,264
Pasadena Bayport 4331 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,638
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	30,213
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	125
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,638
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	30,338
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	37,976
Real Estate Accumulated Depreciation	6,970
Perris 3500 Indian Avenue [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	16,210
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	27,759
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	8,884
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,716
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	34,137
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	52,853
Real Estate Accumulated Depreciation	12,137
Perris 3300 Indian Avenue [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	39,012
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	43,280
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,870
Real Estate and Accumulated Depreciation, Carrying Amount of Land	38,989
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	45,173
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	84,162
Real Estate Accumulated Depreciation	16,181
Perris 4323 Indian Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	20,525
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	30,125
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	470
Real Estate and Accumulated Depreciation, Carrying Amount of Land	20,525
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	30,595
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	51,120
Real Estate Accumulated Depreciation	4,644
Perris 4375 N Perris Blvd
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	26,830
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	69,527
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	57
Real Estate and Accumulated Depreciation, Carrying Amount of Land	26,830
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	69,584
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	96,414
Real Estate Accumulated Depreciation	6,415
Perris 4501 Patterson Avenue
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	28,211
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	49,869
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,621
Real Estate and Accumulated Depreciation, Carrying Amount of Land	28,211
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	52,490
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	80,701
Real Estate Accumulated Depreciation	5,042
Piscataway 141 Circle Drive North
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,237
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	29
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,266
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,266
Real Estate Accumulated Depreciation	0
Plymouth Waterford Innovation Center [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,689
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,897
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	113
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,689
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,010
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,699
Real Estate Accumulated Depreciation	2,221
Pomona 1589 E 9th St. [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,386
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	14,745
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	652
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,386
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,397
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	22,783
Real Estate Accumulated Depreciation	3,552
Perth Amboy ePort 960 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	14,425
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	23,463
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,014
Real Estate and Accumulated Depreciation, Carrying Amount of Land	14,425
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	25,477
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	39,902
Real Estate Accumulated Depreciation	4,674
Perth Amboy ePort 980 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	43,778
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	87,019
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	273
Real Estate and Accumulated Depreciation, Carrying Amount of Land	43,778
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	87,292
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	131,070
Real Estate Accumulated Depreciation	15,950
Perth Amboy ePort 1000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	19,726
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	41,229
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,040
Real Estate and Accumulated Depreciation, Carrying Amount of Land	19,726
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	42,269
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	61,995
Real Estate Accumulated Depreciation	7,244
Perth Amboy Steel Run Logistics Ctr Bldg 1
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	31,987
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	23,948
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	388
Real Estate and Accumulated Depreciation, Carrying Amount of Land	32,318
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	24,005
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	56,323
Real Estate Accumulated Depreciation	2,277
Perth Amboy Steel Run Logistics Ctr Bldg 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	73,056
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	68,473
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,145
Real Estate and Accumulated Depreciation, Carrying Amount of Land	73,974
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	71,700
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	145,674
Real Estate Accumulated Depreciation	4,412
Plainfield Plainfield 1551 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,097
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,772
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	10,831
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,097
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,603
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,700
Real Estate Accumulated Depreciation	8,380
Plainfield Plainfield 1581 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,094
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,279
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,506
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,094
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,785
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,879
Real Estate Accumulated Depreciation	5,013
Plainfield Plainfield 2209 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,016
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,717
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,639
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,016
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,356
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,372
Real Estate Accumulated Depreciation	5,334
Plainfield Plainfield 1390 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	998
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,817
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	986
Real Estate and Accumulated Depreciation, Carrying Amount of Land	998
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,803
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,801
Real Estate Accumulated Depreciation	2,887
Plainfield Plainfield 2425 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,917
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,908
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,979
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,918
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,886
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,804
Real Estate Accumulated Depreciation	5,052
Plainfield Home Depot trailer parking lot [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	310
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	310
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	310
Real Estate Accumulated Depreciation	0
Plainfield AllPoints Midwest Bldg. 1 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,692
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	51,152
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,056
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,692
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	53,208
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	59,900
Real Estate Accumulated Depreciation	12,143
Plainfield AllPoints Midwest Bldg. 4 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,111
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,943
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	22
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,053
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,023
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,076
Real Estate Accumulated Depreciation	6,293
Pompano Beach Atlantic Business 1700 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,743
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,821
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,849
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,743
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,670
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,413
Real Estate Accumulated Depreciation	4,259
Pompano Beach Atlantic Business 1800 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,308
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,381
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	564
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,308
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,945
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,253
Real Estate Accumulated Depreciation	3,439
Pompano Beach Atlantic Business 1855 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,395
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,162
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	234
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,395
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,396
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,791
Real Estate Accumulated Depreciation	3,107
Pompano Beach Atlantic Business 2022 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,563
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,885
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	41
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,563
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,926
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,489
Real Estate Accumulated Depreciation	2,190
Pompano Beach Atlantic Business 1914 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,589
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,332
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	31
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,589
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,363
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,952
Real Estate Accumulated Depreciation	1,982
Pompano Beach Atlantic Business 2003 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,716
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,918
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	831
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,716
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,749
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,465
Real Estate Accumulated Depreciation	2,876
Pompano Beach Atlantic Business 1901 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,729
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,199
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	381
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,729
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,580
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,309
Real Estate Accumulated Depreciation	2,397
Pompano Beach Atlantic Business 2200 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,732
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,012
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	843
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,732
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,855
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,587
Real Estate Accumulated Depreciation	2,802
Pompano Beach Atlantic Business 2100 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,723
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,130
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	141
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,723
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,271
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,994
Real Estate Accumulated Depreciation	2,306
Pompano Beach Atlantic Business 2201 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,901
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,050
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	121
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,901
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,171
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,072
Real Estate Accumulated Depreciation	1,534
Pompano Beach Atlantic Business 2101 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,790
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,682
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	122
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,791
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,803
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,594
Real Estate Accumulated Depreciation	2,479
Pompano Beach Atlantic Business 2103 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,400
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,628
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	118
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,401
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,745
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,146
Real Estate Accumulated Depreciation	1,412
Pompano Beach Copans Business Park 1571 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,482
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,646
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	367
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,482
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,013
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,495
Real Estate Accumulated Depreciation	1,480
Pompano Beach Copans Business Park 1521 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,543
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,101
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	309
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,544
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,409
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,953
Real Estate Accumulated Depreciation	1,305
Pompano Beach Park Central 3250 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,463
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,997
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	10
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,463
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,007
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,470
Real Estate Accumulated Depreciation	799
Pompano Beach Park Central 3760 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,685
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,491
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,682
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,685
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,173
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,858
Real Estate Accumulated Depreciation	1,647
Pompano Beach Pompano Commerce Center 2901 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,177
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,896
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	789
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,178
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,684
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,862
Real Estate Accumulated Depreciation	1,758
Pompano Beach Pompano Commerce Center 3101 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,905
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,095
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	571
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,916
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,655
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,571
Real Estate Accumulated Depreciation	1,805
Pompano Beach Pompano Commerce Center 2951 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,177
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,465
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	37
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,178
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,501
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,679
Real Estate Accumulated Depreciation	1,720
Pompano Beach Pompano Commerce Center 3151 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,897
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,939
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	121
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,908
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,049
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,957
Real Estate Accumulated Depreciation	1,369
Pompano Beach Sample 95 Business Park 3101 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,860
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,115
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	565
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,860
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,680
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,540
Real Estate Accumulated Depreciation	2,464
Pompano Beach Sample 95 Business Park 3001 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,568
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,135
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	121
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,568
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,256
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,824
Real Estate Accumulated Depreciation	2,264
Pompano Beach Sample 95 Business Park 3035 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,218
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,288
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	411
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,218
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,699
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,917
Real Estate Accumulated Depreciation	1,759
Pompano Beach Sample 95 Business Park 3135 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,463
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,890
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	858
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,463
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,748
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,211
Real Estate Accumulated Depreciation	2,441
Pompano Beach Copans Business Park 1551 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,608
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,146
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	667
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,609
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,812
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,421
Real Estate Accumulated Depreciation	1,636
Pompano Beach Copans Business Park 1501 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,723
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,367
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	365
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,723
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,732
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,455
Real Estate Accumulated Depreciation	1,339
Pompano Beach Park Central 1700 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,584
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,361
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	863
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,585
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,223
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,808
Real Estate Accumulated Depreciation	2,760
Pompano Beach Park Central 2101 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,336
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,756
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,135
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,337
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,890
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,227
Real Estate Accumulated Depreciation	2,736
Pompano Beach Park Central 3300 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,417
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,846
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	434
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,417
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,280
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,697
Real Estate Accumulated Depreciation	1,309
Pompano Beach Park Central 100 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,300
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,992
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	660
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,300
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,652
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,952
Real Estate Accumulated Depreciation	1,083
Pompano Beach Park Central 1300 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,113
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,021
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,178
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,113
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,199
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,312
Real Estate Accumulated Depreciation	2,484
Pompano Beach Copans 95 1731 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,511
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,889
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,749
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,518
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,631
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,149
Real Estate Accumulated Depreciation	864
Port Wentworth 100 Logistics Way [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,019
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,975
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,043
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,283
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,005
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,296
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,301
Real Estate Accumulated Depreciation	5,561
Port Wentworth 500 Expansion Blvd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,903
Real Estate and Accumulated Depreciation, Initial Cost of Land	649
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,842
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	144
Real Estate and Accumulated Depreciation, Carrying Amount of Land	649
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,986
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,635
Real Estate Accumulated Depreciation	2,202
Port Wentworth 400 Expansion Blvd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,636
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,186
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,798
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,636
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,984
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	17,620
Real Estate Accumulated Depreciation	5,223
Port Wentworth 605 Expansion Blvd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,615
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,852
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,273
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,615
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,125
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,740
Real Estate Accumulated Depreciation	2,833
Port Wentworth 405 Expansion Blvd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	535
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,192
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	50
Real Estate and Accumulated Depreciation, Carrying Amount of Land	535
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,242
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,777
Real Estate Accumulated Depreciation	1,088
Port Wentworth 600 Expansion Blvd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,248
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,392
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	33
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,248
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,425
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,673
Real Estate Accumulated Depreciation	3,139
Port Wentworth 602 Expansion Blvd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,840
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,981
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	88
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,859
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,050
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	12,909
Real Estate Accumulated Depreciation	3,617
Raleigh Walnut Creek 540 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	419
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,651
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,054
Real Estate and Accumulated Depreciation, Carrying Amount of Land	419
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,705
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,124
Real Estate Accumulated Depreciation	1,287
Raleigh Walnut Creek 4000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	456
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,078
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	492
Real Estate and Accumulated Depreciation, Carrying Amount of Land	456
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,570
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,026
Real Estate Accumulated Depreciation	1,287
Raleigh Walnut Creek 3080 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	679
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,766
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,534
Real Estate and Accumulated Depreciation, Carrying Amount of Land	679
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,300
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,979
Real Estate Accumulated Depreciation	2,055
Raleigh Walnut Creek 3070 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	913
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,187
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,500
Real Estate and Accumulated Depreciation, Carrying Amount of Land	913
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,687
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,600
Real Estate Accumulated Depreciation	1,198
Raleigh Walnut Creek 3071 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,718
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,746
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	618
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,718
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,364
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,082
Real Estate Accumulated Depreciation	2,321
Rancho Cucamonga 9189 Utica Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,794
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	12,646
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	265
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,794
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,911
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,705
Real Estate Accumulated Depreciation	3,278
Rancho Dominguez 18700 Laurel Park Rd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,080
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,987
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	456
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,438
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,085
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,523
Real Estate Accumulated Depreciation	913
Redlands Redlands 2300 W. San Bernadino Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	20,031
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,968
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,911
Real Estate and Accumulated Depreciation, Carrying Amount of Land	20,031
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,879
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	39,910
Real Estate Accumulated Depreciation	8,710
Richmond 2041 Factory Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,132
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	22,266
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,132
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	22,266
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	30,398
Real Estate Accumulated Depreciation	2,723
Romeoville 875 W. Crossroads Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,113
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,274
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,685
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,113
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,959
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,072
Real Estate Accumulated Depreciation	3,665
Romeoville Crossroads 1255 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,350
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,217
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,090
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,350
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,307
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,657
Real Estate Accumulated Depreciation	5,250
Romeoville Crossroads 801 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,622
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,184
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	305
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,622
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,489
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,111
Real Estate Accumulated Depreciation	4,522
Romeoville 1341-1343 Enterprise Drive [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,076
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	12,150
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	394
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,076
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	12,544
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,620
Real Estate Accumulated Depreciation	2,930
Romeoville 50-56 N. Paragon [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,985
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,433
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,212
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,985
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,645
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,630
Real Estate Accumulated Depreciation	2,174
Romeoville Airport Logistics Center I [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	9,133
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	17,187
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5,843
Real Estate and Accumulated Depreciation, Carrying Amount of Land	11,282
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	20,881
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	32,163
Real Estate Accumulated Depreciation	2,998
Roseville 2215 Highway 36 West [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,132
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,931
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,283
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,132
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,214
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,346
Real Estate Accumulated Depreciation	2,852
Roseville 2420 Long Lake Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	939
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,135
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,078
Real Estate and Accumulated Depreciation, Carrying Amount of Land	939
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,213
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,152
Real Estate Accumulated Depreciation	1,983
Savannah 198 Gulfstream [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	475
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,650
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	956
Real Estate and Accumulated Depreciation, Carrying Amount of Land	476
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,605
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,081
Real Estate Accumulated Depreciation	1,706
Savannah 194 Gulfstream [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	358
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,359
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	285
Real Estate and Accumulated Depreciation, Carrying Amount of Land	358
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,644
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,002
Real Estate Accumulated Depreciation	1,058
Savannah 190 Gulfstream [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	599
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,134
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	372
Real Estate and Accumulated Depreciation, Carrying Amount of Land	599
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,506
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,105
Real Estate Accumulated Depreciation	1,849
Savannah 250 Grange Rd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	771
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,776
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	51
Real Estate and Accumulated Depreciation, Carrying Amount of Land	771
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,827
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,598
Real Estate Accumulated Depreciation	3,130
Savannah 248 Grange Rd [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	529
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,180
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	8
Real Estate and Accumulated Depreciation, Carrying Amount of Land	529
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,188
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,717
Real Estate Accumulated Depreciation	1,278
Savannah 318 Grange Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	759
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,131
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	892
Real Estate and Accumulated Depreciation, Carrying Amount of Land	759
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,023
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,782
Real Estate Accumulated Depreciation	1,900
Savannah 246 Grange Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,096
Real Estate and Accumulated Depreciation, Initial Cost of Land	972
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,486
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	744
Real Estate and Accumulated Depreciation, Carrying Amount of Land	972
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,230
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,202
Real Estate Accumulated Depreciation	3,123
Savannah 163 Portside Court [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,260
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,746
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	260
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,260
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,006
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,266
Real Estate Accumulated Depreciation	3,212
Savannah 151 Portside Court [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	840
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,117
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,398
Real Estate and Accumulated Depreciation, Carrying Amount of Land	790
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,565
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,355
Real Estate Accumulated Depreciation	3,298
Savannah 175 Portside Court [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,206
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,740
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,344
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,619
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,229
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	14,474
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,703
Real Estate Accumulated Depreciation	5,831
Savannah 235 Jimmy Deloach Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	934
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,201
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,277
Real Estate and Accumulated Depreciation, Carrying Amount of Land	893
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,519
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,412
Real Estate Accumulated Depreciation	3,529
Savannah 239 Jimmy Deloach Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	934
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,424
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	732
Real Estate and Accumulated Depreciation, Carrying Amount of Land	934
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,156
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,090
Real Estate Accumulated Depreciation	2,961
Savannah 246 Jimmy Deloach Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,274
Real Estate and Accumulated Depreciation, Initial Cost of Land	863
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,878
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	33
Real Estate and Accumulated Depreciation, Carrying Amount of Land	806
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,968
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,774
Real Estate Accumulated Depreciation	1,999
Savannah 200 Logistics Way [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	2,955
Real Estate and Accumulated Depreciation, Initial Cost of Land	878
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,274
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,337
Real Estate and Accumulated Depreciation, Carrying Amount of Land	883
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,606
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,489
Real Estate Accumulated Depreciation	3,513
Savannah 2509 Dean Forest Rd - Westport [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,080
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,987
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,477
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,602
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,942
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,544
Real Estate Accumulated Depreciation	3,236
Savannah 276 Jimmy Deloach Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,772
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,405
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	327
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,772
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,732
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,504
Real Estate Accumulated Depreciation	1,211
Sea Brook Bayport Logistics 5300 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,578
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,361
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	195
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,577
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,557
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,134
Real Estate Accumulated Depreciation	4,304
Sea Brook Bayport Logistics 5801 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,116
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,663
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	251
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,116
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,914
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,030
Real Estate Accumulated Depreciation	3,021
Shakopee 3880 4th Avenue East [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,023
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,102
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	36
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,049
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,112
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,161
Real Estate Accumulated Depreciation	2,083
Shakopee Gateway South 2301 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,648
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,898
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	91
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,647
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,990
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,637
Real Estate Accumulated Depreciation	2,881
Shakopee Gateway South 2101 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	4,273
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	16,252
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	90
Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,273
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,342
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	20,615
Real Estate Accumulated Depreciation	3,406
Sharonville Mosteller 11400 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	408
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,705
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,773
Real Estate and Accumulated Depreciation, Carrying Amount of Land	408
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,478
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,886
Real Estate Accumulated Depreciation	3,190
South Brunswick 10 Broadway Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	15,168
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,916
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,226
Real Estate and Accumulated Depreciation, Carrying Amount of Land	15,168
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,142
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	30,310
Real Estate Accumulated Depreciation	4,445
Stafford 10225 Mula Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,502
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,656
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	3,845
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,502
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,501
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,003
Real Estate Accumulated Depreciation	3,987
Sterling TransDulles Centre 22601 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,700
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,001
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	602
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,700
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,603
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,303
Real Estate Accumulated Depreciation	3,022
Sterling TransDulles Centre 22620 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	773
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,957
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	16
Real Estate and Accumulated Depreciation, Carrying Amount of Land	773
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,973
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,746
Real Estate Accumulated Depreciation	1,063
Sterling TransDulles Centre 22626 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,544
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,874
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	321
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,544
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,195
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,739
Real Estate Accumulated Depreciation	2,198
Sterling TransDulles Centre 22633 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	702
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,586
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	34
Real Estate and Accumulated Depreciation, Carrying Amount of Land	702
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,620
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,322
Real Estate Accumulated Depreciation	861
Sterling TransDulles Centre 22635 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,753
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,182
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	17
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,753
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,199
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,952
Real Estate Accumulated Depreciation	2,270
Sterling TransDulles Centre 22645 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,228
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,411
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	379
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,228
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,790
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,018
Real Estate Accumulated Depreciation	1,985
Sterling TransDulles Centre 22714 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,973
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,535
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,251
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,973
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,786
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,759
Real Estate Accumulated Depreciation	3,045
Sterling TransDulles Centre 22750 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,068
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,970
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	357
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,068
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,327
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,395
Real Estate Accumulated Depreciation	2,802
Sterling TransDulles Centre 22815 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,685
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,713
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	414
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,685
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,127
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,812
Real Estate Accumulated Depreciation	3,634
Sterling TransDulles Centre 22825 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,758
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,951
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	305
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,758
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,256
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,014
Real Estate Accumulated Depreciation	2,761
Sterling TransDulles Centre 22879 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,828
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,425
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	399
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,828
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,824
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,652
Real Estate Accumulated Depreciation	4,648
Sterling TransDulles Centre 22880 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,311
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,922
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	10
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,311
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,932
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,243
Real Estate Accumulated Depreciation	2,785
Sterling TransDulles Centre 46213 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,912
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,965
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	462
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,912
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,427
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	10,339
Real Estate Accumulated Depreciation	2,105
Sumner 13501 38th Street East [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	16,032
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,954
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	332
Real Estate and Accumulated Depreciation, Carrying Amount of Land	16,032
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,286
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,318
Real Estate Accumulated Depreciation	5,277
Sumner 4800 E Valley Highway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	12,567
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	21,838
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	12,567
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	21,838
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	34,405
Real Estate Accumulated Depreciation	3,707
Suwanee Horizon Business 90 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	153
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,143
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	221
Real Estate and Accumulated Depreciation, Carrying Amount of Land	153
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	1,364
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	1,517
Real Estate Accumulated Depreciation	497
Suwanee Horizon Business 225 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	388
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,048
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	703
Real Estate and Accumulated Depreciation, Carrying Amount of Land	389
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,750
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,139
Real Estate Accumulated Depreciation	1,289
Suwanee Horizon Business 250 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,381
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,660
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,172
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,381
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,832
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,213
Real Estate Accumulated Depreciation	2,848
Suwanee Horizon Business 70 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	813
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,397
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,015
Real Estate and Accumulated Depreciation, Carrying Amount of Land	812
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,413
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,225
Real Estate Accumulated Depreciation	1,779
Suwanee Horizon Business 2780 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	972
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,576
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,128
Real Estate and Accumulated Depreciation, Carrying Amount of Land	972
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,704
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,676
Real Estate Accumulated Depreciation	2,718
Suwanee Horizon Business 25 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	615
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,390
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,007
Real Estate and Accumulated Depreciation, Carrying Amount of Land	614
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,398
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,012
Real Estate Accumulated Depreciation	2,008
Suwanee Horizon Business 2790 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	780
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,952
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	780
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,952
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,732
Real Estate Accumulated Depreciation	1,899
Suwanee 1000 Northbrook Parkway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	643
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,974
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	729
Real Estate and Accumulated Depreciation, Carrying Amount of Land	643
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,703
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,346
Real Estate Accumulated Depreciation	1,618
Tampa Fairfield Distribution 8640 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	483
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,359
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,080
Real Estate and Accumulated Depreciation, Carrying Amount of Land	487
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,435
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,922
Real Estate Accumulated Depreciation	1,733
Tampa Fairfield Distribution 4720 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	530
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,624
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	590
Real Estate and Accumulated Depreciation, Carrying Amount of Land	534
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,210
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,744
Real Estate Accumulated Depreciation	2,854
Tampa Fairfield Distribution 4758 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	334
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,658
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	756
Real Estate and Accumulated Depreciation, Carrying Amount of Land	338
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,410
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,748
Real Estate Accumulated Depreciation	1,792
Tampa Fairfield Distribution 8600 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	600
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,185
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,084
Real Estate and Accumulated Depreciation, Carrying Amount of Land	604
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,265
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,869
Real Estate Accumulated Depreciation	1,921
Tampa Fairfield Distribution 4901 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	488
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,425
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,136
Real Estate and Accumulated Depreciation, Carrying Amount of Land	488
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,561
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	4,049
Real Estate Accumulated Depreciation	1,875
Tampa Fairfield Distribution 4727 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	555
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,348
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,785
Real Estate and Accumulated Depreciation, Carrying Amount of Land	555
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,133
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,688
Real Estate Accumulated Depreciation	2,299
Tampa Fairfield Distribution 4701 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	394
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,350
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,244
Real Estate and Accumulated Depreciation, Carrying Amount of Land	394
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,594
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,988
Real Estate Accumulated Depreciation	1,509
Tampa Fairfield Distribution 4661 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	444
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,640
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	879
Real Estate and Accumulated Depreciation, Carrying Amount of Land	444
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,519
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	2,963
Real Estate Accumulated Depreciation	1,191
Tampa Eagle Creek Business 8701 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,286
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,331
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,702
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,287
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,032
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,319
Real Estate Accumulated Depreciation	2,407
Tampa Eagle Creek Business 8651 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,354
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,661
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,660
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,354
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,321
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,675
Real Estate Accumulated Depreciation	2,975
Tampa Eagle Creek Business 8601 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,332
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,229
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	892
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,332
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,121
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,453
Real Estate Accumulated Depreciation	2,596
Tampa Pinebrooke Bus Center 10350
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,457
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,211
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	393
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,457
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,604
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,061
Real Estate Accumulated Depreciation	517
Teterboro 1 Catherine Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	14,376
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	18,788
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	11
Real Estate and Accumulated Depreciation, Carrying Amount of Land	14,376
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,799
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	33,175
Real Estate Accumulated Depreciation	4,652
Tracy 1400 Pescadero Ave [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	9,633
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	39,644
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	9,633
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	39,644
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	49,277
Real Estate Accumulated Depreciation	15,142
West Chester World Park at Union Centre 9287 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	582
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	827
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	7,518
Real Estate and Accumulated Depreciation, Carrying Amount of Land	582
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,345
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,927
Real Estate Accumulated Depreciation	3,364
West Chester World Park at Union Centre 9271 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	557
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,923
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	528
Real Estate and Accumulated Depreciation, Carrying Amount of Land	557
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,451
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,008
Real Estate Accumulated Depreciation	2,804
West Chester World Park at Union Centre 9266 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	956
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,951
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	440
Real Estate and Accumulated Depreciation, Carrying Amount of Land	956
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,391
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,347
Real Estate Accumulated Depreciation	2,535
West Chester World Park at Union Centre 9451 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,036
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	6,053
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	873
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,036
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,926
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,962
Real Estate Accumulated Depreciation	2,685
West Chester World Park at Union Centre 5443 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	935
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,753
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	429
Real Estate and Accumulated Depreciation, Carrying Amount of Land	935
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,182
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,117
Real Estate Accumulated Depreciation	2,019
West Chester World Park at Union Centre 9107 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	986
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,962
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,578
Real Estate and Accumulated Depreciation, Carrying Amount of Land	986
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,540
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,526
Real Estate Accumulated Depreciation	3,305
West Chester World Park at Union Centre 9245 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,011
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,535
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	782
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,010
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,318
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	7,328
Real Estate Accumulated Depreciation	2,515
West Palm Beach Park of Commerce 5655 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,417
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	1,728
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	310
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,417
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,038
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	3,455
Real Estate Accumulated Depreciation	757
West Palm Beach Park of Commerce 5720 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,872
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,633
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	844
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,032
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,317
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,349
Real Estate Accumulated Depreciation	1,636
West Palm Beach Airport Center 1701 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,112
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,844
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	689
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,112
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	6,533
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	8,645
Real Estate Accumulated Depreciation	2,628
West Palm Beach Airport Center 1805 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,478
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,445
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	251
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,479
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,695
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,174
Real Estate Accumulated Depreciation	1,785
West Palm Beach Airport Center 1865 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	1,300
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,168
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	773
Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,300
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	4,941
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,241
Real Estate Accumulated Depreciation	1,843
West Palm Beach Park of Commerce #4 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,882
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,882
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	5,882
Real Estate Accumulated Depreciation	0
West Palm Beach Park of Commerce #5 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,258
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,258
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,258
Real Estate Accumulated Depreciation	0
West Palm Beach Turnpike Crossing 1315 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,390
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	5,391
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	353
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,390
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,744
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,134
Real Estate Accumulated Depreciation	2,393
West Palm Beach Turnpike Crossing 1333 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,255
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,560
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	975
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,255
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,535
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	11,790
Real Estate Accumulated Depreciation	2,439
West Palm Beach Turnpike Crossing 6747 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,607
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,112
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,786
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,607
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,898
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	20,505
Real Estate Accumulated Depreciation	3,301
West Palm Beach Turnpike Crossing 6729 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,576
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,506
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	723
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,576
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,229
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	16,805
Real Estate Accumulated Depreciation	1,902
West Palm Beach Turnpike Crossing 6711 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,328
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	7,210
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	38
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,340
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	7,236
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,576
Real Estate Accumulated Depreciation	927
West Palm Beach Turnpike Crossing 6717
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,849
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,542
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,378
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,850
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,919
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,769
Real Estate Accumulated Depreciation	947
Wind Gap 1380 Jacobsburg Road [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	15,500
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	25,247
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	753
Real Estate and Accumulated Depreciation, Carrying Amount of Land	15,500
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	26,000
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	41,500
Real Estate Accumulated Depreciation	4,555
Wood-Ridge 5 Ethel Boulevard [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	18,776
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	24,752
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	32
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,776
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	24,784
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	43,560
Real Estate Accumulated Depreciation	3,009
Accum. Depr. on Improvements of Undeveloped Land [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Real Estate and Accumulated Depreciation, Initial Cost of Land
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements
Real Estate and Accumulated Depreciation, Carrying Amount of Land
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements
Real Estate Accumulated Depreciation	561
Eliminations [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Real Estate and Accumulated Depreciation, Initial Cost of Land
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	(20)
Real Estate and Accumulated Depreciation, Carrying Amount of Land	(16)
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	(4)
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	(20)
Real Estate Accumulated Depreciation	9
Cypress 315 6450 Katella Ave
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	85,984
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,517
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	85,984
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,517
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	88,501
Real Estate Accumulated Depreciation	204
East Point 1000 Logistics Way
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,599
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	41,030
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,599
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	41,030
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	51,629
Real Estate Accumulated Depreciation	1,709
East Point Camp Creek 6200
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,609
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	15,301
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,609
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	15,301
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	20,910
Real Estate Accumulated Depreciation	177
East Point 2000 Centre Court
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,938
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,297
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,938
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,297
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	14,235
Real Estate Accumulated Depreciation	43
East Rutherford 66-96 Union
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	18,043
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	3,954
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	18,043
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	3,954
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	21,997
Real Estate Accumulated Depreciation	186
Fremont 48401 Fremont Blvd
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	33,621
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	19,407
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	33,621
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,407
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	53,028
Real Estate Accumulated Depreciation	708
Garner Greenfield North 1300
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	6,112
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,112
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	6,112
Real Estate Accumulated Depreciation	217
Lathrop 16825 Murphy Parkway
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	10,121
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	20,959
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,121
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	20,959
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	31,080
Real Estate Accumulated Depreciation	0
Long Beach 189 W Victoria St
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	16,905
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,373
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	16,905
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,373
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	19,278
Real Estate Accumulated Depreciation	0
Los Angeles 13344 S Main Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	39,678
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	23,978
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	39,678
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	23,978
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	63,656
Real Estate Accumulated Depreciation	403
Medley Miami 27 Business Park 10300
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	34,758
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	16,913
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	34,758
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	16,913
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	51,671
Real Estate Accumulated Depreciation	298
Medley Miami 27 Business Park 10310
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	15,275
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	11,412
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	15,275
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	11,412
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	26,687
Real Estate Accumulated Depreciation	255
Myerstown Central Logistics Park 60
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	16,058
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	26,546
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	16,058
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	26,546
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	42,604
Real Estate Accumulated Depreciation	807
Newark 740-768 Doremus Avenue
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	106,552
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	106,552
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	106,552
Real Estate Accumulated Depreciation	0
Ontario 1656 Bon View
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	9,551
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	250
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	9,551
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	250
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	9,801
Real Estate Accumulated Depreciation	23
Ontario 2151 S Vintage Ave
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	105,589
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	82,630
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	105,589
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	82,630
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	188,219
Real Estate Accumulated Depreciation	1,828
Perris 728 W. Rider Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	69,056
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	62,459
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	69,056
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	62,459
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	131,515
Real Estate Accumulated Depreciation	616
Piscataway 150 Old New Brunswick Road
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	52,134
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	45,883
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	52,134
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	45,883
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	98,017
Real Estate Accumulated Depreciation	1,090
Piscataway 600 Ridge Road
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	102,080
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	63,847
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	102,080
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	63,847
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	165,927
Real Estate Accumulated Depreciation	114
Pomona 468 S Humane Way
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	11,959
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,044
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	11,959
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,044
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	25,003
Real Estate Accumulated Depreciation	125
Pomona 1941 Mission Blvd
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	7,405
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,249
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,405
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	8,249
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	15,654
Real Estate Accumulated Depreciation	0
Pomona 1943 Mission Blvd
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,364
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,203
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,364
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,203
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,567
Real Estate Accumulated Depreciation	0
Plainfield AllPoints Midwest Bldg. 10
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	2,867
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	22,335
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,867
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	22,335
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	25,202
Real Estate Accumulated Depreciation	1,017
Rancho Cucamonga 10415 8th Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	8,641
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	9,790
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,641
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	9,790
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	18,431
Real Estate Accumulated Depreciation	144
Redlands 9180 Alabama Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	52,999
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	52,226
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	52,999
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	52,226
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	105,225
Real Estate Accumulated Depreciation	1,958
San Leandro 1919 Williams Street [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	27,739
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	2,038
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	493
Real Estate and Accumulated Depreciation, Carrying Amount of Land	27,739
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	2,531
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	30,270
Real Estate Accumulated Depreciation	574
Santa Fe Springs 13215 Cambridge Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	3,558
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	10,167
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,558
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,167
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	13,725
Real Estate Accumulated Depreciation	122
Sumner 1510 Puyallup Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	12,040
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	13,225
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	12,040
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	13,225
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	25,265
Real Estate Accumulated Depreciation	175
Tracy 1124 E Pescadero Ave
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	24,944
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	24,944
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,944
Real Estate Accumulated Depreciation	768
Wilmer 110 Sunridge Blvd
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Real Estate and Accumulated Depreciation, Initial Cost of Land	5,692
Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	18,751
Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	0
Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,692
Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	18,751
Real Estate and Accumulated Depreciation, Carrying Amount of Land and Buildings and Improvements	24,443
Real Estate Accumulated Depreciation	$ 407
Maximum [Member] | Developed Properties [Member]
Real Estate and Accumulated Depreciation [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Maximum [Member] | Acquired Properties [Member]
Real Estate and Accumulated Depreciation [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Maximum [Member] | Leasehold Improvements [Member]
Real Estate and Accumulated Depreciation [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Minimum [Member] | Developed Properties [Member]
Real Estate and Accumulated Depreciation [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Minimum [Member] | Acquired Properties [Member]
Real Estate and Accumulated Depreciation [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Minimum [Member] | Leasehold Improvements [Member]
Real Estate and Accumulated Depreciation [Line Items]
Property, Plant and Equipment, Useful Life	3 years

XML

Schedule III Real Estate Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate and Accumulated Depreciation [Line Items]
Real Estate, Gross	$ 8,768,432	$ 7,851,278	$ 7,248,346
Real Estate, Other Acquisitions	595,719	410,003	205,390
Real Estate, Improvements	979,367	796,312	635,173
Real Estate, Cost of Real Estate Sold	(598,445)	(203,502)	(176,603)
Write Off of Fully Depreciated Assets	(130,949)	(85,659)	(61,028)
Real Estate, Gross	9,614,124	8,768,432	7,851,278
Total Land, Land Improvements, Buildings and Tenant Improvements Held-for-Sale	(170,685)	(72,754)	(23,401)
SEC Schedule III, Real Estate, Excluding Held-for-Sale	9,443,439	8,695,678	7,827,877
Real Estate Accumulated Depreciation	1,721,198	1,665,284	1,487,593	$ 1,345,060
Real Estate Accumulated Depreciation, Depreciation Expense	304,935	297,158	272,422
Real Estate Accumulated Depreciation, Real Estate Sold	(118,072)	(33,808)	(68,861)
Real Estate Accumulated Depreciation, Other Deductions	(130,949)	(85,659)	(61,028)
Schedule III - Accumulated Depreciation of Assets Held-for-Sale	(36,785)	(5,976)	(7,132)
Real Estate Investment Property, Accumulated Depreciation	1,684,413	1,659,308	1,480,461
Other real estate investments	11,002,600	9,863,886
Real Estate Assets	9,616,076	8,745,155	7,993,377
Real Estate Investments, Other	$ 172,637	$ 49,477	$ 165,500