Schedule III - Real Estate and Accumulated Depreciation and Amortization

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III

Description	Location	Encumbrances		Land and Land Estates		Buildings and Improvements		Total		Accumulated Depreciation and Amortization(1)		Date Acquired	Date Constructed
WAREHOUSE/DISTRIBUTION PROPERTIES
Stabilized:
Industrial	Chandler, AZ	$	—	$	10,733	$	69,517	$	80,250	$	10,236	Nov-20
Industrial	Goodyear, AZ	—		5,247		36,115		41,362		8,388		Nov-18
Industrial	Goodyear, AZ	40,193		11,970		50,072		62,042		9,099		Nov-19
Industrial	Goodyear, AZ	—		1,614		16,222		17,836		2,633		Jan-20
Industrial	Goodyear, AZ	—		11,732		52,840		64,572		4,654		Nov-21	2021
Industrial	Goodyear, AZ	—		7,552		29,621		37,173		1,304		Sep-21	2023
Industrial	Phoenix, AZ	—		8,027		78,258		86,285		7,358		Dec-21
Industrial	Phoenix, AZ	—		5,366		50,281		55,647		3,674		Apr-22
Industrial	Tolleson, AZ	—		3,311		16,013		19,324		3,001		Oct-19
Industrial	Lakeland, FL	—		1,416		20,986		22,402		2,612		Jan-21
Industrial	Ocala, FL	—		4,113		50,034		54,147		7,667		Jun-20
Industrial	Orlando, FL	—		1,030		10,869		11,899		5,210		Dec-06
Industrial	Plant City, FL	—		2,610		48,433		51,043		5,454		Dec-21
Industrial	Tampa, FL	—		2,160		11,109		13,269		8,489		Jul-88
Industrial	Adairsville, GA	—		1,465		23,950		25,415		2,182		Dec-21
Industrial	Austell, GA	—		3,251		51,518		54,769		14,361		Jun-19
Industrial	Cartersville, GA	—		2,497		42,242		44,739		3,802		Dec-21
Industrial	Cartersville, GA	—		2,006		33,279		35,285		2,919		Dec-21
Industrial	Fairburn, GA	—		7,209		44,030		51,239		4,288		Nov-21	2021
Industrial	McDonough, GA	—		5,441		52,790		58,231		14,062		Aug-17
Industrial	McDonough, GA	—		3,253		31,387		34,640		6,641		Feb-19
Industrial	Pooler, GA	—		1,690		30,356		32,046		4,997		Apr-20
Industrial	Rincon, GA	—		3,775		34,357		38,132		4,941		Sep-20
Industrial	Savannah, GA	—		2,560		25,812		28,372		3,970		Jun-20
Industrial	Savannah, GA	—		1,070		7,458		8,528		1,151		Jun-20
Industrial	Union City, GA	—		2,536		22,830		25,366		4,536		Jun-19
Industrial	Edwardsville, IL	—		4,593		34,817		39,410		10,120		Dec-16
Industrial	Edwardsville, IL	—		3,649		41,338		44,987		10,253		Jun-18
Industrial	Minooka, IL	—		1,788		34,301		36,089		5,614		Jan-20
Industrial	Minooka, IL	—		3,432		40,949		44,381		7,100		Dec-19
Industrial	Minooka, IL	—		3,681		45,817		49,498		7,746		Jan-20
Industrial	Rantoul, IL	—		1,304		32,562		33,866		8,947		Jan-14	2014
Industrial	Rockford, IL	—		371		4,624		4,995		1,282		Dec-06
Industrial	Rockford, IL	—		509		5,921		6,430		2,548		Dec-06
Industrial	Lafayette, IN	—		662		15,814		16,476		5,033		Oct-17
Industrial	Lebanon, IN	—		2,100		29,996		32,096		8,475		Feb-17
Industrial	Whiteland, IN	—		741		14,486		15,227		1,413		Oct-21
Industrial	Whiteland, IN	—		1,991		39,334		41,325		3,952		Oct-21
Industrial	Whiteland, IN	—		695		13,956		14,651		1,359		Oct-21
Industrial	Whitestown, IN	—		1,162		11,825		12,987		1,510		Jan-21
Industrial	Whitestown, IN	—		1,954		17,011		18,965		3,663		Jan-19
Industrial	Whitestown, IN	—		1,208		12,052		13,260		1,543		Jan-21
Industrial	Whitestown, IN	—		8,335		80,054		88,389		7,391		Dec-21
Industrial	New Century, KS	—		—		13,424		13,424		4,131		Feb-17
Industrial	Walton, KY	—		2,010		23,837		25,847		1,986		Feb-22
Industrial	Walton, KY	—		4,197		41,043		45,240		3,312		Feb-22
Industrial	Minneapolis, MN	—		1,886		1,922		3,808		677		Sep-12
Industrial	Byhalia, MS	—		1,006		35,795		36,801		11,789		May-11	2011
Industrial	Byhalia, MS	—		1,751		31,452		33,203		11,269		Sep-17
Industrial	Canton, MS	—		5,077		71,289		76,366		29,939		Mar-15
Industrial	Olive Branch, MS	—		2,500		48,907		51,407		11,159		Apr-18
Industrial	Olive Branch, MS	—		1,958		38,702		40,660		10,289		Apr-18
Industrial	Olive Branch, MS	—		2,646		40,446		43,092		7,979		May-19
Industrial	Olive Branch, MS	—		851		15,630		16,481		3,029		May-19

Description	Location	Encumbrances	Land and Land Estates	Buildings and Improvements	Total	Accumulated Depreciation and Amortization(1)	Date Acquired	Date Constructed
Industrial	Shelby, NC	—	1,421	18,862	20,283	8,389	Jun-11	2011
Industrial	Statesville, NC	—	891	21,994	22,885	8,767	Dec-06
Industrial	Erwin, NY	—	1,648	12,514	14,162	5,424	Sep-12
Industrial	Long Island City, NY	20,695	—	42,759	42,759	30,823	Mar-13	2013
Industrial	Chillicothe, OH	—	735	12,464	13,199	5,175	Oct-11
Industrial	Columbus, OH	—	2,251	25,349	27,600	2,601	Aug-21
Industrial	Etna, OH	—	6,536	57,988	64,524	386	Nov-21	2023
Industrial	Glenwillow, OH	—	2,228	24,530	26,758	10,767	Dec-06
Industrial	Hebron, OH	—	1,803	15,128	16,931	3,106	Dec-97
Industrial	Hebron, OH	—	2,052	14,312	16,364	5,098	Dec-01
Industrial	Lockbourne, OH	—	2,800	16,678	19,478	2,288	Mar-21	2021
Industrial	Monroe, OH	—	1,109	16,477	17,586	1,855	Dec-21
Industrial	Monroe, OH	—	544	14,120	14,664	2,617	Sep-19
Industrial	Monroe, OH	—	3,123	60,702	63,825	11,740	Sep-19
Industrial	Monroe, OH	—	3,950	88,422	92,372	16,467	Sep-19
Industrial	Streetsboro, OH	—	2,441	25,351	27,792	13,520	Jun-07
Industrial	Bristol, PA	—	2,508	15,863	18,371	10,460	Mar-98
Industrial	Duncan, SC	—	2,819	24,509	27,328	2,646	Jul-21
Industrial	Duncan, SC	—	1,169	23,070	24,239	2,448	Jul-21
Industrial	Duncan, SC	—	1,016	18,328	19,344	1,915	Jul-21
Industrial	Duncan, SC	—	1,705	27,817	29,522	2,971	Jul-21
Industrial	Duncan, SC	—	1,406	14,282	15,688	2,639	Oct-19
Industrial	Duncan, SC	—	1,257	13,439	14,696	2,459	Oct-19
Industrial	Duncan, SC	—	1,615	27,830	29,445	5,747	Apr-19
Industrial	Greer, SC	—	1,329	22,393	23,722	2,387	Jun-21
Industrial	Greer, SC	—	6,959	78,405	85,364	13,323	Dec-19
Industrial	Greer, SC	—	2,376	32,129	34,505	3,437	Jun-21
Industrial	Greer, SC	—	2,484	62,591	65,075	3,131	Jul-21	2022
Industrial	Greer, SC	—	1,795	19,881	21,676	133	Jul-21	2023
Industrial	Spartanburg,SC	—	1,447	23,758	25,205	6,519	Aug-18
Industrial	Spartanburg, SC	—	1,186	15,820	17,006	2,090	Dec-20
Industrial	Antioch, TN	—	3,847	17,591	21,438	6,632	May-07
Industrial	Cleveland, TN	—	1,871	29,743	31,614	8,652	May-17
Industrial	Jackson, TN	—	1,454	49,134	50,588	13,148	Sep-17
Industrial	Lewisburg, TN	—	173	10,865	11,038	3,280	May-14
Industrial	Millington, TN	—	723	20,664	21,387	16,213	Apr-05
Industrial	Smyrna, TN	—	1,793	93,940	95,733	25,769	Sep-17
Industrial	Carrollton, TX	—	3,228	16,234	19,462	5,190	Sep-18
Industrial	Dallas, TX	—	2,420	23,644	26,064	4,621	Apr-19
Industrial	Deer Park, TX	—	6,489	28,470	34,959	3,312	May-21
Industrial	Grand Prairie, TX	—	3,166	17,985	21,151	5,069	Jun-17
Industrial	Houston, TX	—	15,055	57,949	73,004	19,390	Mar-13
Industrial	Hutchins, TX	—	1,307	8,472	9,779	1,352	May-20
Industrial	Lancaster, TX	—	3,847	25,037	28,884	3,293	Dec-20
Industrial	Missouri City, TX	—	14,555	5,895	20,450	5,895	Apr-12
Industrial	Northlake, TX	—	4,500	71,636	76,136	11,739	Feb-20
Industrial	Northlake, TX	—	3,938	37,189	41,127	5,129	Dec-20
Industrial	Pasadena, TX	—	4,272	22,295	26,567	2,567	May-21
Industrial	Pasadena, TX	—	2,202	17,135	19,337	2,583	Jun-20
Industrial	Pasadena, TX	—	1,792	9,089	10,881	1,036	May-21
Industrial	Pasadena, TX	—	4,057	17,810	21,867	4,327	Aug-18
Industrial	San Antonio, TX	—	1,311	36,644	37,955	10,245	Jun-17
Industrial	Chester, VA	—	8,544	53,067	61,611	13,391	Dec-18
Industrial	Winchester, VA	—	1,988	32,536	34,524	8,351	Dec-17
Industrial	Winchester, VA	—	2,818	24,422	27,240	3,567	Sep-20
Industrial	Winchester, VA	—	3,823	12,498	16,321	5,857	Jun-07

Description	Location	Encumbrances		Land and Land Estates		Buildings and Improvements		Total		Accumulated Depreciation and Amortization(1)		Date Acquired	Date Constructed
NON-STABILIZED PROPERTIES
Industrial	Ruskin, FL	—		1,961		6,024		7,985		20		Apr-22	2023
Industrial	Lancaster, TX	—		2,100		12,918		15,018		284		Jul-23	2023
OTHER PROPERTIES
Other	Baltimore, MD	—		4,605		—		4,605		—		Dec-06
Construction in progress								1,772
Deferred loan costs, net		(764)
		$	60,124	$	348,133	$	3,424,334	$	3,774,239	$	713,377

(1) Depreciation and amortization expense is calculated on a straight-line basis over the following lives:

Building and improvements	Up to 40 years
Land estates	Up to 51 years
Tenant improvements	Shorter of useful life or term of related lease

The initial cost includes the purchase price paid directly or indirectly by the Company. The total cost basis of the Company's properties at December 31, 2023 for federal income tax purposes was approximately $4.4 billion.

	2023		2022		2021
Reconciliation of real estate, at cost:
Balance at the beginning of year	$	3,691,066	$	3,583,978	$	3,514,564
Additions during year	164,489		229,962		860,311
Properties sold and impaired during the year	(174,466)		(161,393)		(653,247)
Other reclassifications	93,150		38,519		(137,650)
Balance at end of year	$	3,774,239	$	3,691,066	$	3,583,978
Reconciliation of accumulated depreciation and amortization:
Balance at the beginning of year	$	627,027	$	504,699	$	684,468
Depreciation and amortization expense	147,617		144,163		138,879
Accumulated depreciation and amortization of properties sold and impaired during year	(100,474)		(43,521)		(244,751)
Other reclassifications	39,207		21,686		(73,897)
Balance at end of year	$	713,377	$	627,027	$	504,699