Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2014

Schedule III - Real Estate and Accumulated Depreciation

Schedule III - Real Estate and Accumulated Depreciation
December 31, 2014
(dollars in thousands)
				Initial Cost to Company				Cost Capitalized Subsequent to Acquisition				Gross Amounts Carried at Close of Period 12/31/14
Location	Number of Properties	Encumbrances		Land		Buildings and Improvements		Improvements		Capitalized Costs		Land		Buildings and Improvements		Total		Accumulated Depreciation			Year of Construction	Date Acquired	Weighted- Average Depreciable Life (in years)
Industrial - Phoenix - AZ	2	$	16,600	$	6,011	$	27,046	$	-	$	-	$	6,011	$	27,046	$	33,057	$	(1,836	)	1997-1999	4/18/2013	32
Industrial - Las Vegas - NV	1		2,505		628		4,053		-		-		628		4,053		4,681		(210	)	1988	4/18/2013	39
Retail - Knoxville - TN	1		12,350		3,503		13,309		-		-		3,503		13,309		16,812		(331	)	2002	4/1/2014	36
Retail - Newport News - VA	1		11,025		6,394		12,046		-		-		6,394		12,046		18,440		(245	)	1994	6/2/2014	37
Retail - Amherst - NY	1		8,270		2,131		9,740		-		-		2,131		9,740		11,871		(127	)	1986	11/10/2014	30
Retail - Cheektowaga - NY	1		9,447		1,961		12,259		-		-		1,961		12,259		14,220		(180	)	1978	11/10/2014	27
Retail - Jamestown - NY	1		7,356		820		4,915		-		-		820		4,915		5,735		(123	)	1997	11/10/2014	31
Retail - Penfield - NY	1		23,558		4,121		22,413		-		-		4,121		22,413		26,534		(341	)	1978	11/10/2014	26
Retail - Loganville - GA	1		7,230		3,217		8,386		-		-		3,217		8,386		11,603		(92	)	1996	11/10/2014	31
Retail - Chillicothe - OH	1		7,887		1,262		10,819		-		-		1,262		10,819		12,081		(102	)	1981	11/10/2014	28
Retail - Irondequoit - NY	1		15,000		2,438		14,684		-		-		2,438		14,684		17,122		(193	)	1972	11/10/2014	29
Retail - Orchard Park - NY	1		12,888		4,204		20,617		-		-		4,204		20,617		24,821		(264	)	1997, 2000	11/10/2014	34
Retail - LeRoy - NY	1		3,492		374		4,922		-		-		374		4,922		5,296		(62	)	1997	11/10/2014	30
Retail - Ontario - NY	1		5,406		575		6,813		-		-		575		6,813		7,388		(72	)	1998	11/10/2014	33
Retail - Warsaw - NY	1		3,416		478		4,117		-		-		478		4,117		4,595		(46	)	1998	11/10/2014	31
	16	$	146,430	$	38,117	$	176,139	$	0.00	$	0.00	$	38,117	$	176,139	$	214,256	$	(4,224	)
The following table presents our real estate activity during the year ended December 31, 2014 (in thousands):
Beginning balance, January 1, 2014		$	60,132
Additions during the year:
Acquisitions			176,519
Total additions			176,519
Deductions during the year:
Carrying value of real estate sold			23,270
Depreciation			3,349
Total deductions			26,619
Ending balance, December 31, 2014		$	210,032