REAL ESTATE INVESTMENTS

12 Months Ended

Sep. 30, 2021

Real Estate [Abstract]

REAL ESTATE INVESTMENTS

NOTE 2 – REAL ESTATE INVESTMENTS

The following is a summary of the cost and accumulated depreciation of our land, buildings and improvements at September 30, 2021 and 2020 (in thousands):

	Property				Buildings &		Accumulated		Net Book
SEPTEMBER 30, 2021	Type		Land		Improvements		Depreciation		Value
Alabama:
Huntsville		Industrial	$	748	$	5,914	$	1,714	$	4,948
Mobile		Industrial		2,480		30,572		2,548		30,504
Arizona:
Tolleson (Phoenix)		Industrial		1,316		15,508		7,674		9,150
Colorado:
Colorado Springs		Industrial		2,150		27,170		3,744		25,576
Denver		Industrial		1,150		5,224		2,108		4,266
Connecticut:
Newington (Hartford)		Industrial		410		3,116		1,635		1,891
Florida:
Cocoa		Industrial		1,881		12,246		3,725		10,402
Davenport (Orlando)		Industrial		7,060		31,027		4,094		33,993
Daytona Beach		Industrial		3,120		27,754		2,454		28,420
Ft. Myers		Industrial		2,486		19,198		2,312		19,372
Homestead (Miami)		Industrial		4,427		33,485		3,656		34,256
Jacksonville (FDX)		Industrial		1,165		5,419		3,159		3,425
Jacksonville (FDX Ground)		Industrial		6,000		24,926		4,305		26,621
Lakeland		Industrial		261		1,782		724		1,319
Orlando		Industrial		2,200		6,610		2,405		6,405
Punta Gorda		Industrial		0		4,134		1,398		2,736
Tampa (FDX Ground)		Industrial		5,000		14,745		6,059		13,686
Tampa (FDX)		Industrial		2,830		5,518		2,004		6,344
Tampa (Tampa Bay Grand Prix)		Industrial		1,867		3,811		1,448		4,230
Georgia:
Augusta (FDX Ground)		Industrial		614		4,749		1,878		3,485
Augusta (FDX)		Industrial		380		1,613		602		1,391
Braselton (Atlanta)		Industrial		13,965		46,273		3,659		56,579
Griffin (Atlanta)		Industrial		760		14,322		5,716		9,366
Locust Grove (Atlanta)		Industrial		9,667		83,569		1,607		91,629

	Property			Buildings &		Accumulated		Net Book
SEPTEMBER 30, 2021 (cont’d)	Type	Land		Improvements		Depreciation		Value
Savannah (Shaw)	Industrial	$	4,405	$	51,621	$	4,853	$	51,173
Savannah (FDX Ground)	Industrial		3,441		24,091		1,750		25,782
Illinois:
Burr Ridge (Chicago)	Industrial		270		1,615		869		1,016
Elgin (Chicago)	Industrial		1,280		5,902		2,984		4,198
Granite City (St. Louis, MO)	Industrial		340		12,418		6,252		6,506
Montgomery (Chicago)	Industrial		2,000		9,303		3,484		7,819
Rockford (Collins Aerospace Systems)	Industrial		480		4,620		829		4,271
Rockford (Sherwin-Williams Co.)	Industrial		1,100		4,451		1,206		4,345
Sauget (St. Louis, MO)	Industrial		1,890		15,519		2,391		15,018
Schaumburg (Chicago)	Industrial		1,040		4,407		2,671		2,776
Wheeling (Chicago)	Industrial		5,112		14,513		5,600		14,025
Indiana:
Greenwood (Indianapolis) (ULTA)	Industrial		2,250		35,524		5,828		31,946
Greenwood (Indianapolis) (Amazon)	Industrial		4,839		74,525		3,822		75,542
Indianapolis (FDX Ground)	Industrial		3,746		21,758		4,009		21,495
Lafayette	Industrial		2,802		22,277		1,238		23,841
Iowa:
Urbandale (Des Moines)	Industrial		310		2,234		1,459		1,085
Kansas:
Edwardsville (Kansas City) (Carlstar Group)	Industrial		1,185		6,098		3,014		4,269
Edwardsville (Kansas City) (International Paper)	Industrial		2,750		15,544		3,245		15,049
Olathe (Kansas City)	Industrial		3,616		31,831		3,960		31,487
Topeka	Industrial		0		3,680		1,179		2,501
Kentucky:
Buckner (Louisville)	Industrial		2,280		24,528		5,039		21,769
Frankfort (Lexington)	Industrial		1,850		26,150		4,582		23,418
Louisville	Industrial		1,590		9,714		1,328		9,976
Louisiana:
Covington (New Orleans)	Industrial		2,720		15,706		2,352		16,074
Maryland:
Beltsville (Washington, DC)	Industrial		3,200		11,521		5,045		9,676
Michigan:
Walker (Grand Rapids)	Industrial		4,034		27,621		3,187		28,468
Livonia (Detroit)	Industrial		320		13,568		3,127		10,761
Orion	Industrial		4,650		18,506		5,902		17,254
Romulus (Detroit)	Industrial		531		4,418		2,477		2,472
Minnesota:
Stewartville (Rochester)	Industrial		900		4,332		888		4,344
Mississippi:
Olive Branch (Memphis, TN) (Anda Pharmaceuticals, Inc.)	Industrial		800		13,750		3,261		11,289
Olive Branch (Memphis, TN) (Milwaukee Tool)	Industrial		2,550		34,365		6,697		30,218
Richland (Jackson)	Industrial		211		1,690		1,200		701
Ridgeland (Jackson)	Industrial		218		2,738		1,585		1,371
Missouri:
Kansas City	Industrial		1,000		9,003		1,670		8,333
Liberty (Kansas City)	Industrial		724		7,075		4,128		3,671
O’Fallon (St. Louis)	Industrial		264		3,986		2,735		1,515
St. Joseph	Industrial		800		12,705		6,518		6,987
Nebraska:
Omaha	Industrial		1,170		4,794		2,734		3,230
New Jersey:
Somerset	Shopping Center		35		3,104		1,873		1,266
Trenton	Industrial		8,336		75,652		5,819		78,169

	Property			Buildings &		Accumulated		Net Book
SEPTEMBER 30, 2021 (cont’d)	Type	Land		Improvements		Depreciation		Value
New York:
Cheektowaga (Buffalo)	Industrial	$	4,797	$	6,164	$	2,330	$	8,631
Halfmoon (Albany)	Industrial		1,190		5,551		1,134		5,607
Hamburg (Buffalo)	Industrial		1,700		33,440		4,313		30,827
North Carolina:
Concord I (Charlotte)	Industrial		4,305		28,749		4,847		28,207
Concord II (Charlotte)	Industrial		4,307		35,736		3,818		36,225
Fayetteville	Industrial		172		5,286		3,532		1,926
Whitsett (Greensboro)	Industrial		2,735		43,976		1,503		45,208
Winston-Salem	Industrial		980		6,447		3,239		4,188
Ohio:
Bedford Heights (Cleveland)	Industrial		990		6,314		2,530		4,774
Cincinnati	Industrial		800		5,950		928		5,822
Lancaster (Columbus)	Industrial		959		16,599		638		16,920
Kenton	Industrial		855		17,876		1,970		16,761
Lebanon (Cincinnati)	Industrial		240		4,315		1,069		3,486
Monroe (Cincinnati)	Industrial		1,800		19,777		2,452		19,125
Plain City (Columbus)	Industrial		6,554		65,187		1,254		70,487
Richfield (Cleveland)	Industrial		2,677		13,960		4,156		12,481
Stow	Industrial		1,430		17,504		1,795		17,139
Streetsboro (Cleveland)	Industrial		1,760		17,840		4,346		15,254
West Chester Twp. (Cincinnati)	Industrial		695		5,039		2,842		2,892
Oklahoma:
Oklahoma City (FDX Ground)	Industrial		1,410		11,215		2,479		10,146
Oklahoma City (Bunzl)	Industrial		845		7,883		859		7,869
Oklahoma City (Amazon)	Industrial		1,618		28,260		2,778		27,100
Oklahoma City (Amazon II)	Industrial		1,378		13,584		363		14,599
Tulsa	Industrial		790		2,958		631		3,117
Pennsylvania:
Altoona	Industrial		1,200		7,823		1,595		7,428
Imperial (Pittsburgh)	Industrial		3,700		16,290		2,331		17,659
Monaca (Pittsburgh)	Industrial		402		7,562		3,730		4,234
South Carolina:
Aiken (Augusta, GA)	Industrial		1,362		19,678		2,144		18,896
Charleston (FDX)	Industrial		4,639		16,900		1,703		19,836
Charleston (FDX Ground)	Industrial		7,103		39,473		3,205		43,371
Ft. Mill (Charlotte, NC)	Industrial		1,747		15,317		3,826		13,238
Hanahan (Charleston) (SAIC)	Industrial		1,129		13,334		5,791		8,672
Hanahan (Charleston) (Amazon)	Industrial		930		8,376		2,852		6,454
Tennessee:
Chattanooga	Industrial		300		5,069		1,827		3,542
Kodak (Knoxville)	Industrial		2,918		30,972		66		33,824
Lebanon (Nashville)	Industrial		2,230		11,985		3,073		11,142
Memphis	Industrial		1,235		14,858		4,278		11,815
Shelby County	Vacant Land		11		0		0		11
Texas:
Carrollton (Dallas)	Industrial		1,500		16,997		4,908		13,589
Corpus Christi	Industrial		0		4,808		1,176		3,632
Edinburg	Industrial		1,000		11,039		2,324		9,715
El Paso	Industrial		3,225		9,206		2,780		9,651
Ft. Worth (Dallas)	Industrial		8,200		27,448		4,358		31,290
Houston	Industrial		1,661		6,560		2,019		6,202
Lindale (Tyler)	Industrial		948		11,355		1,699		10,604
Mesquite (Dallas)	Industrial		6,248		43,632		4,755		45,125
Spring (Houston)	Industrial		1,890		17,439		3,432		15,897
Waco	Industrial		1,350		11,201		2,363		10,188
Utah:
Ogden (Salt Lake City)	Industrial		1,287		11,380		389		12,278

	Property				Buildings &		Accumulated		Net Book
SEPTEMBER 30, 2021 (cont’d)	Type		Land		Improvements		Depreciation		Value
Vermont:
Burlington	Industrial	$	7,729	$	46,096	$	197	$	53,628
Virginia:
Charlottesville	Industrial		1,170		3,292		1,905		2,557
Mechanicsville (Richmond)	Industrial		1,160		6,676		3,560		4,276
Richmond	Industrial		446		4,651		1,937		3,160
Roanoke (CHEP USA)	Industrial		1,853		5,619		2,286		5,186
Roanoke (FDX Ground)	Industrial		1,740		8,460		1,799		8,401
Washington:
Burlington (Seattle/Everett)	Industrial		8,000		22,371		3,154		27,217
Wisconsin:
Cudahy (Milwaukee)	Industrial		980		8,835		4,075		5,740
Green Bay	Industrial		590		5,990		1,227		5,353
Total as of September 30, 2021		$	277,846	$	2,025,844	$	345,988	$	1,957,702

	Property			Buildings &		Accumulated		Net Book
SEPTEMBER 30, 2020	Type	Land		Improvements		Depreciation		Value
Alabama:
Huntsville	Industrial	$	748	$	5,914	$	1,562	$	5,100
Mobile	Industrial		2,480		30,572		1,763		31,289
Arizona:
Tolleson (Phoenix)	Industrial		1,316		15,508		7,167		9,657
Colorado:
Colorado Springs	Industrial		2,150		27,170		3,027		26,293
Denver	Industrial		1,150		5,224		1,973		4,401
Connecticut:
Newington (Hartford)	Industrial		410		3,097		1,553		1,954
Florida:
Cocoa	Industrial		1,881		12,246		3,403		10,724
Davenport (Orlando)	Industrial		7,060		31,025		3,286		34,799
Daytona Beach	Industrial		3,120		27,161		1,730		28,551
Ft. Myers	Industrial		2,486		19,198		1,821		19,863
Homestead (Miami)	Industrial		4,427		33,485		2,795		35,117
Jacksonville (FDX)	Industrial		1,165		5,419		2,979		3,605
Jacksonville (FDX Ground)	Industrial		6,000		24,926		3,633		27,293
Lakeland	Industrial		261		1,782		676		1,367
Orlando	Industrial		2,200		6,610		2,212		6,598
Punta Gorda	Industrial		0		4,134		1,286		2,848
Tampa (FDX Ground)	Industrial		5,000		14,745		5,680		14,065
Tampa (FDX)	Industrial		2,830		5,071		1,824		6,077
Tampa (Tampa Bay Grand Prix)	Industrial		1,867		3,811		1,347		4,331
Georgia:
Augusta (FDX Ground)	Industrial		614		4,749		1,756		3,607
Augusta (FDX)	Industrial		380		1,604		558		1,426
Braselton (Atlanta)	Industrial		13,965		46,262		2,471		57,756
Griffin (Atlanta)	Industrial		760		14,322		5,338		9,744
Savannah (Shaw)	Industrial		4,405		51,621		3,530		52,496
Savannah (FDX Ground)	Industrial		3,441		24,091		1,133		26,399
Illinois:
Burr Ridge (Chicago)	Industrial		270		1,437		822		885
Elgin (Chicago)	Industrial		1,280		5,902		2,791		4,391
Granite City (St. Louis, MO)	Industrial		340		12,358		5,895		6,803
Montgomery (Chicago)	Industrial		2,000		9,303		3,245		8,058
Rockford (Collins Aerospace Systems)	Industrial		480		4,620		711		4,389
Rockford (Sherwin-Williams Co.)	Industrial		1,100		4,451		1,091		4,460
Sauget (St. Louis, MO)	Industrial		1,890		13,315		2,050		13,155
Schaumburg (Chicago)	Industrial		1,040		4,407		2,534		2,913

	Property			Buildings &		Accumulated		Net Book
SEPTEMBER 30, 2020 (cont’d)	Type	Land		Improvements		Depreciation		Value
Wheeling (Chicago)	Industrial	$	5,112	$	13,881	$	5,210	$	13,783
Indiana:
Greenwood (Indianapolis) (ULTA)	Industrial		2,250		35,515		4,906		32,859
Greenwood (Indianapolis) (Amazon)	Industrial		4,839		74,525		1,911		77,453
Indianapolis (FDX Ground)	Industrial		3,746		21,758		3,420		22,084
Lafayette	Industrial		2,802		22,277		667		24,412
Iowa:
Urbandale (Des Moines)	Industrial		310		2,234		1,377		1,167
Kansas:
Edwardsville (Kansas City) (Carlstar Group)	Industrial		1,185		6,098		2,847		4,436
Edwardsville (Kansas City) (International Paper)	Industrial		2,750		15,544		2,831		15,463
Olathe (Kansas City)	Industrial		2,350		29,476		3,140		28,686
Topeka	Industrial		0		3,680		1,085		2,595
Kentucky:
Buckner (Louisville)	Industrial		2,280		24,528		4,397		22,411
Frankfort (Lexington)	Industrial		1,850		26,150		3,911		24,089
Louisvlle	Industrial		1,590		9,714		1,079		10,225
Louisiana:
Covington (New Orleans)	Industrial		2,720		15,706		1,947		16,479
Maryland:
Beltsville (Washington, DC)	Industrial		3,200		11,312		4,748		9,764
Michigan:
Walker (Grand Rapids)	Industrial		4,034		27,621		2,479		29,176
Livonia (Detroit)	Industrial		320		13,560		2,767		11,113
Orion	Industrial		4,650		18,291		5,430		17,511
Romulus (Detroit)	Industrial		531		4,418		2,329		2,620
Minnesota:
Stewartville (Rochester)	Industrial		900		4,324		777		4,447
Mississippi:
Olive Branch (Memphis, TN) (Anda Pharmaceuticals, Inc.)	Industrial		800		13,750		2,909		11,641
Olive Branch (Memphis, TN) (Milwaukee Tool)	Industrial		2,550		34,365		5,813		31,102
Richland (Jackson)	Industrial		211		1,690		1,129		772
Ridgeland (Jackson)	Industrial		218		2,519		1,465		1,272
Missouri:
Kansas City	Industrial		1,000		9,003		1,408		8,595
Liberty (Kansas City)	Industrial		724		7,075		3,904		3,895
O’Fallon (St. Louis)	Industrial		264		3,986		2,614		1,636
St. Joseph	Industrial		800		12,598		6,158		7,240
Nebraska:
Omaha	Industrial		1,170		4,794		2,609		3,355
New Jersey:
Carlstadt (New York, NY)	Industrial		1,194		4,103		1,229		4,068
Somerset	Shopping Center		34		3,105		1,779		1,360
Trenton	Industrial		8,336		75,652		3,880		80,108
New York:
Cheektowaga (Buffalo)	Industrial		4,797		6,164		2,170		8,791
Halfmoon (Albany)	Industrial		1,190		4,537		945		4,782
Hamburg (Buffalo)	Industrial		1,700		33,432		3,436		31,696
North Carolina:
Concord I (Charlotte)	Industrial		4,305		28,749		4,002		29,052
Concord II (Charlotte)	Industrial		4,307		35,736		2,902		37,141
Fayetteville	Industrial		172		5,283		3,397		2,058
Whitsett (Greensboro)	Industrial		2,735		43,976		376		46,335
Winston-Salem	Industrial		980		6,284		3,057		4,207

	Property			Buildings &		Accumulated		Net Book
SEPTEMBER 30, 2020 (cont’d)	Type	Land		Improvements		Depreciation		Value
Ohio:
Bedford Heights (Cleveland)	Industrial	$	990	$	6,314	$	2,310	$	4,994
Cincinnati	Industrial		800		5,950		776		5,974
Lancaster (Columbus)	Industrial		959		16,599		213		17,345
Kenton	Industrial		855		17,876		1,449		17,282
Lebanon (Cincinnati)	Industrial		240		4,315		933		3,622
Monroe (Cincinnati)	Industrial		1,800		19,777		1,945		19,632
Richfield (Cleveland)	Industrial		2,677		13,770		3,800		12,647
Stow	Industrial		1,430		17,504		1,346		17,588
Streetsboro (Cleveland)	Industrial		1,760		17,840		3,888		15,712
West Chester Twp. (Cincinnati)	Industrial		695		5,039		2,663		3,071
Oklahoma:
Oklahoma City (FDX Ground)	Industrial		1,410		11,215		2,185		10,440
Oklahoma City (Bunzl)	Industrial		845		7,883		657		8,071
Oklahoma City (Amazon)	Industrial		1,618		28,260		2,052		27,826
Oklahoma City (Amazon II)	Industrial		1,378		13,584		14		14,948
Tulsa	Industrial		790		2,958		553		3,195
Pennsylvania:
Altoona	Industrial		1,200		7,823		1,392		7,631
Imperial (Pittsburgh)	Industrial		3,700		16,264		1,912		18,052
Monaca (Pittsburgh)	Industrial		402		7,551		3,481		4,472
South Carolina:
Aiken (Augusta, GA)	Industrial		1,362		19,678		1,639		19,401
Charleston (FDX)	Industrial		4,639		16,880		1,265		20,254
Charleston (FDX Ground)	Industrial		7,103		39,473		2,193		44,383
Ft. Mill (Charlotte, NC)	Industrial		1,747		15,317		3,434		13,630
Hanahan (Charleston) (SAIC)	Industrial		1,129		13,334		5,256		9,207
Hanahan (Charleston) (Amazon)	Industrial		930		8,373		2,513		6,790
Tennessee:
Chattanooga	Industrial		300		5,069		1,678		3,691
Lebanon (Nashville)	Industrial		2,230		11,985		2,766		11,449
Memphis	Industrial		1,235		14,858		3,787		12,306
Shelby County	Vacant Land		11		0		0		11
Texas:
Carrollton (Dallas)	Industrial		1,500		16,995		4,442		14,053
Corpus Christi	Industrial		0		4,808		1,049		3,759
Edinburg	Industrial		1,000		11,039		2,040		9,999
El Paso	Industrial		3,225		9,206		2,512		9,919
Ft. Worth (Dallas)	Industrial		8,200		27,419		3,627		31,992
Houston	Industrial		1,661		6,530		1,825		6,366
Lindale (Tyler)	Industrial		540		9,426		1,456		8,510
Mesquite (Dallas)	Industrial		6,248		43,632		3,636		46,244
Spring (Houston)	Industrial		1,890		17,439		2,979		16,350
Waco	Industrial		1,350		11,201		2,075		10,476
Utah:
Ogden (Salt Lake City)	Industrial		1,287		11,380		97		12,570
Virginia:
Charlottesville	Industrial		1,170		3,292		1,801		2,661
Mechanicsville (Richmond)	Industrial		1,160		6,667		3,375		4,452
Richmond	Industrial		446		4,644		1,794		3,296
Roanoke (CHEP USA)	Industrial		1,853		5,610		2,092		5,371
Roanoke (FDX Ground)	Industrial		1,740		8,460		1,582		8,618
Washington:
Burlington (Seattle/Everett)	Industrial		8,000		22,371		2,572		27,799
Wisconsin:
Cudahy (Milwaukee)	Industrial		980		8,827		3,812		5,995
Green Bay	Industrial		590		5,979		1,072		5,497
Total as of September 30, 2020		$	250,497	$	1,793,367	$	296,020	$	1,747,844