XML 43 R33.htm IDEA: XBRL DOCUMENT v3.21.1
REAL ESTATE INVESTMENTS (Details Narrative)
6 Months Ended
Dec. 24, 2020
USD ($)
ft²
a
Dec. 17, 2020
USD ($)
ft²
a
Mar. 31, 2021
USD ($)
ft²
$ / shares
Mar. 31, 2020
ft²
Jun. 29, 2017
Real Estate [Line Items]          
Transaction costs     $ 576,000    
Series C Cumulative Redeemable Preferred Stock [Member]          
Real Estate [Line Items]          
Cumulative redeemable preferred, stock dividend rate     6.125%   6.125%
Preferred Stock, Par or Stated Value Per Share | $ / shares     $ 0.01    
Fed Ex Ground Package System Inc [Member]          
Real Estate [Line Items]          
Purchase of industrial building | ft²     1,300,000    
Project cost     $ 3,400,000    
Increase in annual rent     340,000    
Fed Ex Ground Package System Inc [Member] | Minimum [Member]          
Real Estate [Line Items]          
Annual rent     2,200,000    
Fed Ex Ground Package System Inc [Member] | Maximum [Member]          
Real Estate [Line Items]          
Annual rent     $ 2,600,000    
Fed Ex Ground Package System Inc [Member] | Industrial Buildings [Member]          
Real Estate [Line Items]          
Purchase of industrial building | ft²   488,000      
Area of property | a   99.0      
Percentage of building area leased   100.00%      
Lease term   15 years      
Lease term expiration period   September 2035      
Purchase price of industrial building   $ 73,300,000      
Mortgage loan amortization period   15 years      
Face amount of mortgages   $ 47,000,000.0      
Mortgage loan on real estate, interest rate   2.95%      
Annual rental income over the remaining term of lease   $ 4,600,000      
Home Depot U.S.A., Inc. [Member] | Industrial Buildings [Member]          
Real Estate [Line Items]          
Purchase of industrial building | ft² 658,000        
Area of property | a 129.9        
Percentage of building area leased 100.00%        
Lease term 20 years        
Lease term expiration period November 2040        
Purchase price of industrial building $ 96,700,000        
Mortgage loan amortization period 17 years        
Face amount of mortgages $ 57,000,000.0        
Mortgage loan on real estate, interest rate 3.25%        
Annual rental income over the remaining term of lease $ 5,500,000        
Fedex and Fedex Subsidiaries [Member]          
Real Estate [Line Items]          
Square feet of real estate property leased | ft²     11,200,000 10,400,000  
Weighted average lease maturity     7 years 9 months 18 days    
Percentage of real estate property leased     46.00% 45.00%  
Fedex Corporation [Member]          
Real Estate [Line Items]          
Percentage of real estate property leased     5.00% 5.00%  
Fedex Corporation Subsidiaries [Member]          
Real Estate [Line Items]          
Percentage of real estate property leased     41.00% 40.00%  
Amazon.com Services, Inc. [Member]          
Real Estate [Line Items]          
Square feet of real estate property leased | ft²     1,500,000    
Percentage of real estate property leased     6.00%    
Percentage of rental space and tenant account, description     As of March 31, 2021, the only tenants, other than FDX and its subsidiaries, that leased 5% or more of our total square footage were subsidiaries of Amazon.com, Inc (Amazon), which consists of five separate stand-alone leases for properties located in four different states, containing 1.5 million total square feet, comprising 6% of our total leasable square feet.    
Fdx And Subsidiaries [Member] | Rental and Reimbursement Revenue [Member]          
Real Estate [Line Items]          
Percentage of rental space and tenant account, description     The only tenants, other than FDX and its subsidiaries, that we estimate will comprise 5% or more of our total Rental and Reimbursement Revenue for fiscal 2021 are subsidiaries of Amazon, which is estimated to be 7% of our Annualized Rental and Reimbursement Revenue for fiscal 2021 and was 6% for of our Annualized Rental and Reimbursement Revenue for fiscal 2020. For the six months ended March 31, 2021, no other tenant accounted for 5% or more of our total Rental and Reimbursement Revenue.    
Percentage of aggregate rental and reimbursement revenue     55.00% 58.00%  
Fdx [Member] | Rental and Reimbursement Revenue [Member]          
Real Estate [Line Items]          
Percentage of aggregate rental and reimbursement revenue     5.00% 5.00%  
Fdx Subsidiaries [Member] | Rental and Reimbursement Revenue [Member]          
Real Estate [Line Items]          
Percentage of aggregate rental and reimbursement revenue     50.00% 53.00%