Industrial Logistics Properties Trust (ILPT) 10-K 20 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Feb. 15, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38342
Entity Registrant Name	INDUSTRIAL LOGISTICS PROPERTIES TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	82-2809631
Entity Address, Address Line One	Two Newton Place,
Entity Address, Address Line Two	255 Washington Street,
Entity Address, Address Line Three	Suite 300,
Entity Address, City or Town	Newton,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02458-1634
City Area Code	617
Local Phone Number	219-1460
Title of 12(b) Security	Common Shares of Beneficial Interest
Trading Symbol	ILPT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 213.3
Entity Common Stock, Shares Outstanding		65,842,339
Documents Incorporated by Reference	Certain information required by Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K is incorporated by reference to our definitive Proxy Statement for the 2024 Annual Meeting of Shareholders, to be filed with the Securities and Exchange Commission within 120 days after the fiscal year ended December 31, 2023.
Entity Central Index Key	0001717307
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Boston, Massachusetts

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Real estate properties:
Land		$ 1,113,723	$ 1,117,779
Buildings and improvements		4,055,829	4,058,329
Total real estate properties, gross		5,169,552	5,176,108
Accumulated depreciation		(397,454)	(273,467)
Total real estate properties, net		4,772,098	4,902,641
Investment in unconsolidated joint venture		115,360	124,358
Acquired real estate leases, net		243,521	297,445
Cash and cash equivalents		112,341	48,261
Restricted cash	[1]	133,382	92,519
Rents receivable, including straight line rents of $94,309 and $80,710, respectively		119,170	107,011
Other assets, net		67,803	103,931
Total assets		5,563,675	5,676,166
LIABILITIES AND EQUITY
Mortgages and notes payable, net		4,305,941	4,244,501
Assumed real estate lease obligations, net		18,534	22,523
Total liabilities		4,401,896	4,345,395
Commitments and contingencies
Equity:
Common shares of beneficial interest, $.01 par value: 100,000,000 shares authorized; 65,843,387 and 65,568,145 shares issued and outstanding, respectively		658	656
Additional paid in capital		1,015,777	1,014,201
Cumulative net income		9,196	117,185
Cumulative other comprehensive income		10,171	21,903
Cumulative common distributions		(365,848)	(363,221)
Total equity attributable to common shareholders		669,954	790,724
Noncontrolling interest		491,825	540,047
Total equity		1,161,779	1,330,771
Total liabilities and equity		5,563,675	5,676,166
Nonrelated Party
LIABILITIES AND EQUITY
Accounts payable and other liabilities		72,455	73,547
Related Party
LIABILITIES AND EQUITY
Accounts payable and other liabilities		$ 4,966	$ 4,824
[1] (1) Restricted cash consists of amounts escrowed for capital expenditures at certain of our mortgaged properties and cash held for the operations of our consolidated joint venture.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Straight line rents	$ 94,309	$ 80,710
Common stock, par value per share (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common shares, shares issued (in shares)	65,843,387	65,568,145
Common shares, shares outstanding (in shares)	65,843,387	65,568,145

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues [Abstract]
Rental income	$ 437,338	$ 388,151	$ 219,874
Expenses:
Real estate taxes	60,053	50,624	30,134
Other operating expenses	38,192	30,855	18,678
Depreciation and amortization	178,728	160,982	50,598
General and administrative	31,164	32,877	16,724
Acquisition and other transaction related costs	287	586	1,132
Loss on impairment of real estate	156	100,747	0
Total expenses	308,580	376,671	117,266
Interest and other income	7,911	2,663	0
Interest expense (including net amortization of debt issuance costs, premiums and discounts of $26,922, $96,974, and $2,022, respectively)	(288,537)	(280,051)	(35,625)
Gain (loss) on sale of real estate	1,710	(10)	12,054
Loss on equity securities	0	(5,758)	0
Loss on early extinguishment of debt	(359)	(22,198)	0
(Loss) income before income taxes and equity in earnings of unconsolidated joint venture	(150,517)	(293,874)	79,037
Income tax expense	(104)	(45)	(273)
Equity in earnings of unconsolidated joint venture	902	7,078	40,918
Net (loss) income	(149,719)	(286,841)	119,682
Net loss attributable to noncontrolling interest	41,730	60,118	0
Net (loss) income attributable to common shareholders	(107,989)	(226,723)	119,682
Other comprehensive income:
Unrealized (loss) gain on derivatives	(17,999)	30,194	0
Less: unrealized loss (gain) on derivatives attributable to noncontrolling interest	6,267	(8,291)	0
Other comprehensive (loss) income attributable to common shareholders	(11,732)	21,903	0
Comprehensive (loss) income attributable to common shareholders	$ (119,721)	$ (204,820)	$ 119,682
Weighted average common shares outstanding - (basic) (in shares)	65,430	65,248	65,169
Weighted average common shares outstanding - (diluted) (in shares)	65,430	65,248	65,211
Numerators:
Net (loss) income attributable to common shareholders, basic (in dollars per share)	$ (1.65)	$ (3.47)	$ 1.83
Net (loss) income attributable to common shareholders, diluted (in dollars per share)	$ (1.65)	$ (3.47)	$ 1.83

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Amortization of debt issuance costs, premiums and discounts	$ 26,922	$ 96,974	$ 2,022

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Total Equity Attributable to Common Shareholders	Common shares	Additional Paid In Capital	Cumulative Net Income	Cumulative Other Comprehensive Income	Cumulative Common Distributions	Total Equity Attributable to Noncontrolling nterest
Beginning balance (in shares) at Dec. 31, 2020			65,301,088
Beginning balance at Dec. 31, 2020	$ 1,003,190	$ 1,003,190	$ 653	$ 1,010,819	$ 224,226	$ 0	$ (232,508)	$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	119,682	119,682			119,682
Share grants (in shares)			139,800
Share grants	2,332	2,332	$ 1	2,331
Share repurchases (in shares)			(35,596)
Share repurchases	(922)	(922)		(922)
Share forfeitures (in shares)			(700)
Share forfeitures	(4)	(4)		(4)
Distributions to common shareholders	(86,236)	(86,236)					(86,236)
Ending balance (in shares) at Dec. 31, 2021			65,404,592
Ending balance at Dec. 31, 2021	1,038,042	1,038,042	$ 654	1,012,224	343,908	0	(318,744)	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(286,841)	(226,723)			(226,723)			(60,118)
Share grants (in shares)			197,800
Share grants	2,230	2,230	$ 2	2,228
Share repurchases (in shares)			(32,347)
Share repurchases	(242)	(242)		(242)
Share forfeitures (in shares)			(1,900)
Share forfeitures	(9)	(9)		(9)
Distributions to common shareholders	(44,477)	(44,477)					(44,477)
Contributions from noncontrolling interest	593,239							593,239
Distributions to noncontrolling interest	(1,365)							(1,365)
Other comprehensive income (loss)	$ 30,194	21,903				21,903		8,291
Ending balance (in shares) at Dec. 31, 2022	65,568,145		65,568,145
Ending balance at Dec. 31, 2022	$ 1,330,771	790,724	$ 656	1,014,201	117,185	21,903	(363,221)	540,047
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(149,719)	(107,989)			(107,989)			(41,730)
Share grants (in shares)			328,350
Share grants	1,750	1,750	$ 3	1,747
Share repurchases (in shares)			(49,158)
Share repurchases	(163)	(163)	$ (1)	(162)
Share forfeitures (in shares)			(3,950)
Share forfeitures	(9)	(9)		(9)
Distributions to common shareholders	(2,627)	(2,627)					(2,627)
Distributions to noncontrolling interest	(225)							(225)
Other comprehensive income (loss)	$ (17,999)	(11,732)				(11,732)		(6,267)
Ending balance (in shares) at Dec. 31, 2023	65,843,387		65,843,387
Ending balance at Dec. 31, 2023	$ 1,161,779	$ 669,954	$ 658	$ 1,015,777	$ 9,196	$ 10,171	$ (365,848)	$ 491,825

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income		$ (149,719)	$ (286,841)	$ 119,682
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation		125,262	106,236	32,457
Loss on impairment of real estate		156	100,747	0
Net amortization of debt issuance costs, premiums and discounts		26,922	96,974	2,022
Amortization of acquired real estate leases and assumed real estate lease obligations		49,935	48,570	16,656
Amortization of deferred leasing costs		2,440	1,675	938
Loss on equity securities		0	5,758	0
Straight line rental income		(13,599)	(11,538)	(7,263)
Loss on early extinguishment of debt		359	22,198	0
(Gain) loss on sale of real estate		(1,710)	10	(12,054)
Proceeds from settlement of derivatives		(56,915)	0	0
Other non-cash expenses		26,319	3,249	2,328
Distributions of earnings from unconsolidated joint venture		3,960	5,282	2,640
Equity in earnings of unconsolidated joint venture		(902)	(7,078)	(40,918)
Change in assets and liabilities:
Rents receivable		1,440	(19,596)	54
Other assets		(9,951)	11,931	(8,323)
Accounts payable and other liabilities		1,920	3,034	2,525
Due to related persons		142	2,640	(94)
Net cash provided by operating activities		6,059	83,251	110,650
CASH FLOWS FROM INVESTING ACTIVITIES:
Real estate acquisitions		0	(3,589,389)	(134,730)
Real estate improvements		(19,415)	(17,732)	(4,911)
Proceeds from sale of equity securities		0	140,792	0
Distributions in excess of earnings from unconsolidated joint venture		5,940	20,460	0
Proceeds from sale of properties to joint venture, net		0	0	160,506
Proceeds from sale of real estate		24,300	0	1,206
Proceeds from settlement of derivatives		56,915	0	0
Proceeds from sale of joint venture		0	0	804
Net cash provided by (used in) investing activities		67,740	(3,445,869)	22,875
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of mortgage notes payable		91,000	3,335,000	0
Repayment of mortgage notes payable		(55,418)	(18,070)	0
Proceeds from secured bridge loan facility		0	1,385,158	0
Repayment of secured bridge loan facility		0	(1,385,158)	0
Borrowings under revolving credit facility		0	3,000	301,000
Repayments of revolving credit facility		0	(185,000)	(340,000)
Payment of debt issuance costs		(1,423)	(211,996)	(804)
Proceeds from sale of interest rate cap		0	7,740	0
Distributions to common shareholders		(2,627)	(44,477)	(86,236)
Proceeds from sale of noncontrolling interest, net		0	589,411	0
Repurchase of common shares		(163)	(242)	(922)
Distributions to noncontrolling interest		(225)	(1,365)	0
Net cash provided by (used in) financing activities		31,144	3,474,001	(126,962)
Increase in cash, cash equivalents and restricted cash		104,943	111,383	6,563
Cash, cash equivalents and restricted cash at beginning of period		140,780	29,397	22,834
Cash, cash equivalents and restricted cash at end of period		245,723	140,780	29,397
SUPPLEMENTAL DISCLOSURES:
Interest paid		237,585	178,842	33,278
Income taxes paid		85	228	485
NON-CASH INVESTING ACTIVITIES:
Real estate acquired by assumption of mortgage notes payable		0	323,432	0
Real estate improvements accrued not paid		1,235	2,507	705
NON-CASH FINANCING ACTIVITIES:
Assumption of mortgage notes payable		0	(323,432)	0
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents		112,341	48,261	29,397
Restricted cash	[1]	133,382	92,519	0
Total cash, cash equivalents and restricted cash shown in the statements of cash flows		$ 245,723	$ 140,780	$ 29,397
[1] (1) Restricted cash consists of amounts escrowed for capital expenditures at certain of our mortgaged properties and cash held for the operations of our consolidated joint venture.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Dec. 31, 2023	Feb. 25, 2022
Mountain Industrial REIT LLC | Consolidated Entity, Excluding Consolidated VIE
Ownership interest	61%	61%

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Industrial Logistics Properties Trust, or, collectively with its consolidated subsidiaries, we, us or our, is a real estate investment trust, or REIT, organized under Maryland law on September 15, 2017. As of December 31, 2023, our portfolio was comprised of 411 properties containing approximately 59,951,000 rentable square feet located in 39 states, including 226 buildings, leasable land parcels and easements containing approximately 16,729,000 rentable square feet (all square footage amounts included within this Annual Report on Form 10-K are unaudited) that were primarily industrial lands located on the island of Oahu, Hawaii, or our Hawaii Properties, and 185 properties containing approximately 43,222,000 rentable square feet of industrial and logistics properties located in 38 other states, or our Mainland Properties. As of December 31, 2023, we also owned a 22% equity interest in an unconsolidated joint venture, or the unconsolidated joint venture.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation. These consolidated financial statements include the accounts of us and our subsidiaries. All intercompany transactions and balances with or among our consolidated subsidiaries have been eliminated. Consolidation. We consolidate entities in which we have a controlling financial interest. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider whether the entity is a variable interest entity, or VIE, in which we are the primary beneficiary or whether the entity is a voting interest entity in which we have a majority of the voting interests of the entity. We are deemed to be the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. We generally do not control an entity if the approval of all of the partners/members is contractually required with respect to decisions that most significantly impact the performance of the entity. This includes decisions regarding operating and capital budgets and the placement of new or additional financing secured by the assets of the venture, among others. Use of Estimates. Preparation of these financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires us to make estimates and assumptions that may affect the amounts reported in these consolidated financial statements and related notes. On February 25, 2022, we acquired Monmouth Real Estate Investment Corporation, or MNR, pursuant to the merger of MNR with and into one of our wholly owned subsidiaries, or the Merger, as further described below. In connection with the Merger, we entered into a joint venture arrangement, or our consolidated joint venture, for 95 of the acquired MNR properties, including two then committed, but not yet then completed, property acquisitions, located in the mainland United States, in which we retained a 61% equity interest. We have a controlling financial interest in our consolidated joint venture and as result, account for it on a consolidated basis. Real Estate Properties. We record properties at cost. Our real estate investments in lands are not depreciated. We calculate depreciation on other real estate investments on a straight line basis over estimated useful lives generally ranging from seven We allocate a portion of the purchase price to above market and below market leases based on the present value (using a discount rate which reflects the risks associated with acquired in-place leases at the time each property was acquired by us) of the difference, if any, between (i) the contractual amounts to be paid pursuant to the acquired in-place leases and (ii) our estimates of fair market lease rates for the corresponding leases, measured over a period equal to the terms of the respective leases. The terms of below market leases that include bargain renewal options, if any, are further adjusted if we determine renewal to be probable. We allocate a portion of the purchase price to acquired in-place leases and tenant relationships based upon market estimates of the costs to lease up the property. In determining these allocations, we estimate costs during the expected lease up periods, including carrying costs such as real estate taxes, insurance and other operating income and expenses and costs, and costs including leasing commissions, legal and other related expenses and costs to execute similar leases in current market conditions at the time a property was acquired by us. We allocate this aggregate value, which we refer to as lease origination value, between acquired in-place lease values and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease. However, we have not separated the value of tenant relationships from the value of acquired in-place leases because such value and related amortization expense is immaterial to our consolidated financial statements. If the value of tenant relationships becomes material in the future, we may separately allocate those amounts and amortize the allocated amount over the estimated life of the relationships. We amortize lease origination value (included in acquired real estate leases in our consolidated balance sheets) over the terms of the associated leases. Such amortization, which is included in depreciation and amortization expense, totaled $51,065, $53,113 and $17,437 during the years ended December 31, 2023, 2022 and 2021, respectively. We amortize capitalized above market lease values (included in acquired real estate leases in our consolidated balance sheets) and below market lease values (presented as assumed real estate lease obligations in our consolidated balance sheets) as a reduction or increase, respectively, to rental income over the terms of the associated leases. Such amortization resulted in increases in rental income of $1,130, $4,544 and $781 during the years ended December 31, 2023, 2022 and 2021, respectively. If a lease is terminated prior to its stated expiration, we write off the unamortized amounts relating to that lease. As of December 31, 2023 and 2022, our acquired real estate leases and assumed real estate lease obligations were as follows: December 31, 2023 2022 Acquired real estate leases: Capitalized above market lease values $ 27,484 $ 31,313 Less: accumulated amortization (14,628) (15,598) Capitalized above market lease values, net 12,856 15,715 Lease origination value 355,718 384,496 Less: accumulated amortization (125,053) (102,766) Lease origination value, net 230,665 281,730 Acquired real estate leases, net $ 243,521 $ 297,445 Assumed real estate lease obligations: Capitalized below market lease values $ 37,580 $ 42,600 Less: accumulated amortization (19,046) (20,077) Assumed real estate lease obligations, net $ 18,534 $ 22,523 As of December 31, 2023, the weighted average amortization periods for capitalized above market lease values, lease origination value and capitalized below market lease values were 9.7 years, 7.6 years and 6.7 years, respectively. Deferred Leasing Costs. Deferred leasing costs include capitalized brokerage costs and inducements associated with our entering leases. We amortize deferred leasing costs, which are included in depreciation and amortization expense, and inducements, which are included as a reduction to rental income, each on a straight line basis over the terms of the respective leases. Legal costs associated with the execution of our leases are expensed as incurred and included in general and administrative expenses in our consolidated statements of comprehensive income (loss). Deferred leasing costs totaled $26,803 and $22,371 at December 31, 2023 and 2022, respectively, and accumulated amortization of deferred leasing costs totaled $6,156 and $4,366 at December 31, 2023 and 2022, respectively. Deferred leasing costs are included in other assets, net in our consolidated balance sheets. Debt Issuance Costs. Debt issuance costs include capitalized issuance costs related to borrowings, which are amortized to interest expense over the terms of the respective loans. Debt issuance costs, net of accumulated amortization, for our mortgage notes payable are presented as a direct deduction from the associated debt liability in our consolidated balance sheets. As of December 31, 2023 and 2022, we had debt issuance costs, net of accumulated amortization, of $20,003 and $45,862, respectively, for certain of our mortgage notes payable. As of December 31, 2021, we had debt issuance costs for our revolving credit facility, which we repaid and terminated in 2022, totaling $6,711 and accumulated amortization of debt issuance costs of $5,907. Debt issuance costs for our revolving credit facility were included in other assets, net in our consolidated balance sheets. Expected future amortization related to our acquired real estate leases and assumed real estate obligations, deferred leasing costs and debt issuance costs as of December 31, 2023 are shown below: Acquired Real Estate Leases and Assumed Deferred Leasing Debt Issuance Real State Obligations Costs Costs 2024 $ 43,158 $ 2,811 $ 12,823 2025 35,521 2,724 1,262 2026 30,272 2,548 1,262 2027 26,104 2,304 1,262 2028 20,194 1,965 1,262 Thereafter 69,738 8,295 2,132 $ 224,987 $ 20,647 $ 20,003 Impairments. We regularly evaluate whether events or changes in circumstances have occurred that could indicate an impairment in the value of long lived assets. Impairment indicators may include declining tenant occupancy, lack of progress leasing vacant space, tenant bankruptcies, low long-term prospects for improvement in property performance, weak or declining tenant profitability, cash flow or liquidity, our decision to dispose of an asset before the end of its estimated useful life and legislative, market or industry changes that could permanently reduce the value of a property. If there is an indication that the carrying value of an asset is not recoverable, we estimate the projected undiscounted cash flows to determine if an impairment loss should be recognized. The future net undiscounted cash flows are subjective and are based in part on assumptions regarding hold periods, market rents and terminal capitalization rates. If the carrying value exceeds the projected undiscounted cash flows, we determine the amount of any impairment loss by comparing the historical carrying value to the estimated fair value. We estimate fair value through an evaluation of recent financial performance and projected discounted cash flows using standard industry valuation techniques. In addition to consideration of impairment upon the events or changes in circumstances described above, we regularly evaluate the remaining useful lives of our long lived assets. If we change our estimate of the remaining useful lives, we allocate the carrying value of the affected assets over their revised remaining useful lives. During the year ended December 31, 2023, we recognized a $156 loss on impairment to adjust the carrying value of a property to its estimated fair value. During the year ended December 31, 2022, we recognized a $100,747 loss on impairment for 25 properties we acquired as part of the Merger, to adjust the carrying value of these properties to their estimated fair value. Certain of our industrial lands in Hawaii may require environmental remediation, especially if the use of those lands is changed; however, we do not have any present plans to change the use of those lands or to undertake this environmental cleanup. As of December 31, 2023 and 2022, accrued environmental remediation costs of $6,775 and $6,940, respectively, were included in accounts payable and other liabilities in our consolidated balance sheets. These accrued environmental remediation costs relate to maintenance of our properties for current uses, and, because of the indeterminable timing of the remediation, these amounts have not been discounted to present value. In general, we do not have any insurance designated to limit any losses that we may incur as a result of known or unknown environmental conditions which are not caused by an insured event, such as, for example, fire or flood, although some of our tenants may maintain such insurance that may benefit us. Although we do not believe that there are environmental conditions at any of our properties that will have a material adverse effect on us, we cannot be sure that such conditions are not present at our properties or that costs we incur to remediate contamination will not have a material adverse effect on our business or financial condition. Charges for environmental remediation costs, if any, are included in other operating expenses in our consolidated statements of comprehensive income (loss). Capitalization Policy. Costs directly related to the development of properties are capitalized. We capitalize development costs, including interest, real estate taxes, insurance and other project costs, incurred during the period of development. Determinations of when a development project commences and capitalization begins, and when a development project is substantially complete and held available for occupancy and capitalization must cease, involve judgments. We begin the capitalization of costs during the pre-construction period, which we consider to begin when activities that are necessary to the development of the property commence. We consider a development project as substantially complete and held available for occupancy upon the completion of tenant improvements, but no later than one year from cessation of major construction activity. Cash and Cash Equivalents. We consider highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Restricted Cash. Restricted cash consists of amounts escrowed for future capital expenditures as required by certain of our mortgaged properties and cash held for the operations of our consolidated joint venture in which we own a 61% equity interest. Derivative Instruments and Hedging Activities. We account for our derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the effective portion of the derivative instrument that is not designated as a hedge or that does not meet the hedge accounting criteria is recorded as a gain or loss to operations. Equity Method Investments. We account for investments under the equity method when the requirements for consolidation are not met, and we have significant influence over the operations of the investee. We own a 22% equity interest in the unconsolidated joint venture, which owns 18 properties. We do not control the activities that are most significant to this joint venture and, as a result, we account for our investment in this joint venture under the equity method of accounting under the fair value option. Revenue Recognition. We are a lessor of industrial and logistics properties. Our leases provide our tenants with the contractual right to use and economically benefit from all the physical space specified in their respective leases and are generally classified as operating leases. Our leases provide for base rent payments and may also include variable payments. Rental income from operating leases, including any payments derived by index or market based indices, is recognized on a straight line basis over the lease term when we have determined that the collectability of substantially all the lease payments is probable. Some of our leases have options to extend or terminate the lease exercisable at the option of our tenants, which are considered when determining the lease term. Certain of our leases contain non-lease components, such as property level operating expenses and capital expenditures reimbursed by our tenants as well as other required lease payments. We have determined that all our leases qualify for the practical expedient to not separate the lease and non-lease components under the Accounting Standards Codification, or ASC, 842, because the lease components are operating leases and the timing and pattern of recognition of the non-lease components are the same as those of the lease components. Income derived from our leases is recorded in rental income in our consolidated statements of comprehensive income (loss). Certain tenants under their leases are required to directly pay their obligations for insurance, real estate taxes and certain other expenses to the vendor and/or the municipality. These obligations, which have been assumed by the tenants under the terms of their respective leases, are not reflected in our consolidated financial statements. To the extent any tenant responsible for any such obligations under the applicable lease defaults on such lease or if it is deemed probable that the tenant will fail to pay for such obligations, we would record a liability for such obligations. Income Taxes. We have elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, and, accordingly, we generally are not, and will not be, subject to federal income taxes provided we distribute our taxable income and meet certain organization and operating requirements to qualify for taxation as a REIT. We are, however, subject to certain state and local taxes. Right of Use Assets and Lease Liabilities. We are the lessee for three of our properties subject to ground leases and one office lease that we assumed as part of our acquisition of MNR. For leases with a term greater than 12 months under which we are the lessee, we are required to record a right of use asset and lease liability. The values of our right of use assets and related lease liabilities were $4,646 and $4,730, respectively, as of December 31, 2023, and $5,084 and $5,149, respectively, as of December 31, 2022. Our right of use assets and related lease liabilities are included in other assets, net accounts payable and other liabilities Generally, payments of ground lease obligations are made by our tenants. However, if a tenant does not perform obligations under a ground lease or does not renew any ground lease, we may have to perform obligations under, or renew, the ground lease in order to protect our investment in the affected property. Net Income (Loss) Per Common Share. We calculate basic earnings per common share by dividing net income (loss) by the weighted average number of common shares outstanding during the period. We calculate diluted net income (loss) per share using the more dilutive of the two class method or the treasury stock method. Unvested share awards and other potentially dilutive common shares and the related impact on earnings are considered when calculating diluted earnings per share. Noncontrolling Interests. Noncontrolling interests represent the share of our consolidated joint venture owned by a third party. We allocate net income (loss) to noncontrolling interests based on the respective ownership interest during the period. Segment Reporting. We operate in one business segment: ownership and leasing of properties that include industrial and logistics buildings and leased industrial lands. New Accounting Pronouncements. In November 2023, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities, including those with a single reportable segment, to: (i) provide disclosures of significant segment expenses and other segment items if they are regularly provided to the chief operating decision maker, or the CODM, and included in each reported measure of segment profit or loss; (ii) provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by ASC 280, Segment Reporting in interim periods; and (iii) disclose the CODM’s title and position, as well as an explanation of how the CODM uses the reported measures and other disclosures. ASU 2023-07 does not change how a public entity identifies its operating segments, aggregates those operating segments or applies the quantitative thresholds to determine its reportable segments. ASU 2023-07 is required to be applied retrospectively and is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact ASU 2023-07 will have on our consolidated financial statements. In August 2023, the FASB issued ASU 2023-05, Business Combinations – Joint Venture Formations (Subtopic 805-60) : Recognition and Initial Measurement. ASU 2023-05 applies to the formation of a joint venture and requires a joint venture to initially measure all contributions received upon its formation at fair value. This guidance is effective for all joint ventures with a formation date on or after January 1, 2025, with early adoption permitted. Joint ventures formed before the effective date have the option to apply it retrospectively, while those formed after the effective date are required to apply it prospectively. We adopted ASU 2023-05 on October 1, 2023 and will apply the guidance prospectively. We do not expect the adoption to have an impact on our consolidated financial statements.

Real Estate Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments We incurred capital expenditures at certain of our properties of $23,263 and $30,331 during the years ended December 31, 2023 and 2022, respectively. During the year ended December 31, 2023, we committed $10,923 for expenditures related to tenant improvements and leasing costs for leases executed during the period for approximately 4,982,000 rentable square feet. Committed, but unspent, tenant related obligations based on existing leases as of December 31, 2023, were $5,947, all of which is expected to be spent during the next 12 months. Acquisitions On February 25, 2022, we completed the acquisition of MNR pursuant to the Agreement and Plan of Merger, dated as of November 5, 2021 and as amended on February 7, 2022, or the Merger Agreement, by and among us, Maple Delaware Merger Sub LLC, a Delaware limited liability company and our wholly owned subsidiary, or Merger Sub, and MNR. At the effective time on February 25, 2022, or the Effective Time, MNR merged with and into Merger Sub, with Merger Sub continuing as the surviving entity, and the separate existence of MNR ceased. MNR’s portfolio included 124 class A, single tenant, net leased, e-commerce focused industrial properties containing approximately 25,745,000 rentable square feet and two then committed, but not yet then completed, property acquisitions. The aggregate value of the consideration paid in the Merger was $3,739,048, including the assumption of $323,432 aggregate principal amount of former MNR mortgage debt, the repayment of $885,269 of MNR debt and the payment of certain transaction fees and expenses, net of MNR’s cash on hand, and excluding two then pending property acquisitions for an aggregate purchase price of $78,843, excluding acquisition related costs. Pursuant to the terms set forth in the Merger Agreement, at the Effective Time, each share of common stock, par value $0.01 per share, of MNR that was issued and outstanding immediately prior to the Effective Time was automatically converted into the right to receive $21.00 per share in cash, or the Common Stock Consideration, and each share of 6.125% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, of MNR, that was issued and outstanding immediately prior to the Effective Time was automatically converted into the right to receive an amount in cash equal to $25.00 plus accumulated and unpaid dividends. At the Effective Time, each MNR stock option and restricted stock award outstanding immediately prior to the Effective Time, whether vested or unvested, became fully vested and converted into the right to receive, in the case of stock options, the difference between the Common Stock Consideration and the exercise price and, in the case of restricted stock awards, the Common Stock Consideration. Any out-of-money stock options were canceled for no consideration. Immediately following the closing of the Merger, we entered into a joint venture arrangement with an institutional investor for 95 MNR properties in 27 states, including two then committed, but not yet then completed, property acquisitions. The investor acquired a 39% equity interest in the joint venture from us for $589,411, as of the completion of this transaction, and we retained the remaining 61% equity interest in the joint venture. In connection with the transaction, the joint venture assumed $323,432 aggregate principal amount of former MNR mortgage debt secured by 11 properties and entered into a $1,400,000 interest only floating rate CMBS loan secured by 82 properties, or the Floating Rate Loan. The Floating Rate Loan matures in March 2024, subject to three one year extension options, and requires that interest be paid at an annual rate based on the secured overnight financing rate, or SOFR, plus a premium of 2.77%. In connection with the closing of the Merger, we entered into a $1,385,158 interest only bridge loan facility secured by 109 of our properties, or the Bridge Loan. We also entered into a $700,000 interest only fixed rate CMBS loan secured by 17 of our properties, or the Fixed Rate Loan. The Bridge Loan was scheduled to mature in February 2023 and required that interest be paid at an annual rate of SOFR plus a weighted average premium of 2.92%. We repaid the Bridge Loan in full in September 2022. The Fixed Rate Loan matures in March 2032 and requires that interest be paid at a weighted average annual interest rate of 4.42%. The Floating Rate Loan, the Bridge Loan and the Fixed Rate Loan are collectively referred to as the Merger Loans. We used the proceeds from our sale of the equity interest in our joint venture in which we retained a 61% equity interest to partially fund our acquisition of MNR. We funded our equity interest in that joint venture and the balance of the acquisition of MNR with proceeds from the Bridge Loan and the Fixed Rate Loan. In connection with the Merger and the Merger Loans, we repaid the outstanding principal balance under our $750,000 unsecured revolving credit facility and then terminated the agreement governing the facility, which was scheduled to expire in June 2022, in accordance with its terms and without penalty. We accounted for the Merger as an acquisition of assets. The following table summarizes the purchase price allocation for the Merger: Land $ 430,818 Buildings 3,035,309 Acquired real estate leases (1) 294,576 Cash 8,814 Other assets, net 14,194 Securities available for sale (2) 146,550 Total assets 3,930,261 Mortgage notes payable, at fair value (323,432) Accounts payable and other liabilities (25,327) Assumed real estate lease obligations (17,829) Equity attributable to noncontrolling interest in the joint venture (3,827) Net assets acquired 3,559,846 Assumed working capital (144,230) Assumed mortgage notes payable, principal 323,432 Purchase price $ 3,739,048 (1) As of the date of acquisition, the weighted average amortization periods for the above market lease values, lease origination value and capitalized below market lease values were 11.1 years, 8.5 years and 7.8 years, respectively. (2) As part of the Merger, we acquired a portfolio of marketable securities and classified them as available for sale. During the year ended December 31, 2022, we sold all of these securities for net proceeds of $140,792, resulting in a $5,758 realized loss on sale of equity securities for the year ended December 31, 2022. In July 2022, our consolidated joint venture acquired a property located in Augusta, GA containing approximately 226,000 rentable square feet for a purchase price of $38,053, including acquisition related costs of $53. This property was 100% leased to a single tenant with a remaining lease term of 14.9 years at the time of acquisition. This property was one of two committed MNR property acquisitions at the time of the Merger and was acquired directly by our consolidated joint venture. In September 2022, our consolidated joint venture terminated the agreement for the other committed MNR property acquisition. We allocated the purchase price for this acquisition based on the estimated fair value of the acquired assets as follows: Acquired Number of Rentable Buildings and Real Estate Date Location Properties Square Feet Purchase Price Land Improvements Leases July 2022 Augusta, GA 1 225,997 $ 38,053 $ 3,818 $ 30,780 $ 3,455 During the year ended December 31, 2021, we acquired four industrial properties and one parcel of developable land containing 1,644,508 rentable square feet for an aggregate purchase price of $134,730, including acquisition related costs of $1,030, and accounted for as asset acquisitions. We allocated the purchase prices for these acquisitions based on the estimated fair value of the acquired assets and assumed liabilities as follows: Acquired Number Rentable Buildings Acquired Real Estate of Square Purchase and Real Estate Lease Date Market Area Properties Feet Price Land Improvements Leases Obligations May 2021 Dallas, TX 1 — $ 2,319 $ 2,319 $ — $ — $ — June 2021 Columbus, OH 1 357,504 31,762 1,491 27,407 2,864 — August 2021 Memphis, TN 3 1,287,004 100,649 5,922 87,600 7,192 (65) 5 1,644,508 $ 134,730 $ 9,732 $ 115,007 $ 10,056 $ (65) Dispositions During the year ended December 31, 2023, we sold two properties and a portion of a land parcel, containing 489,825 square feet for the aggregate sales price of $25,460, excluding closing costs. Number of Gross Gain (Loss) on Sale of Date Location Properties Square Feet Sales Price (1) Real Estate March 2023 Everett, WA N/A 246,114 $ 270 $ (974) December 2023 Mesquite, TX 1 211,112 20,890 118 December 2023 Asheville, NC 1 32,599 4,300 2,566 2 489,825 $ 25,460 $ 1,710 (1) Gross sale price is the gross contract price, excluding closing costs. In September 2021, we sold a portion of a land parcel located in Rock Hill, SC for $1,400, excluding closing costs, resulting in a net gain on sale of real estate of $940. Consolidated Joint Venture We own a 61% equity interest in Mountain Industrial REIT LLC, or Mountain JV, or our consolidated joint venture, which owns 94 properties in 27 states totaling approximately 20,981,000 rentable square feet. We control this consolidated joint venture and therefore account for the properties owned by this joint venture on a consolidated basis in our consolidated financial statements. We recognized net loss attributable to noncontrolling interest in our consolidated financial statements for the year ended December 31, 2023 and the period from February 25, 2022 (inception of our consolidated joint venture) to December 31, 2022 of $41,798 and $60,067, respectively, As of December 31, 2023, our consolidated joint venture had total assets of $3,026,194 and total liabilities of $1,774,380. Consolidated Tenancy in Common An unrelated third party owns an approximate 33% tenancy in common interest in one property located in Somerset, NJ with approximately 64,000 rentable square feet, and we own the remaining 67% tenancy in common interest in this property. The portion of this property’s net income (loss) not attributable to us of $68 and ($51) for the year ended December 31, 2023 and the period from February 25, 2022 (the date of acquisition) to December 31, 2022, respectively, is reported as net loss attributable to noncontrolling interest in our consolidated statements of comprehensive income (loss). Unconsolidated Joint Venture We own a 22% equity interest in The Industrial Fund REIT LLC, which owns 18 industrial properties located in 12 states totaling approximately 11,726,000 rentable square feet. We account for the unconsolidated joint venture under the equity method of accounting under the fair value option. We recognize changes in the fair value of our investment in the unconsolidated joint venture as equity in earnings of unconsolidated joint venture in our consolidated statements of comprehensive income (loss).

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases We do not include in our measurement of our lease receivables certain variable payments, including payments determined by changes in the index or market-based indices after the inception of the lease, certain tenant reimbursements and other income until the specific events that trigger the variable payments have occurred. Such payments totaled $76,572, $63,168 and $38,732 for the years ended December 31, 2023, 2022 and 2021, respectively. The following table summarizes the future contractual lease payments due from our tenants as of December 31, 2023: Amount 2024 $ 344,967 2025 327,988 2026 308,240 2027 284,553 2028 240,654 Thereafter 1,555,987 $ 3,062,389 Geographic Concentration For the years ended December 31, 2023, 2022 and 2021, our Hawaii Properties represented 28.0%, 29.7% and 50.6%, respectively, of our rental income. Tenant Concentration We define annualized rental revenues as the annualized contractual base rents from our tenants pursuant to our lease agreements as of the measurement date, including straight line rent adjustments and estimated recurring expense reimbursements to be paid to us, and excluding lease value amortization. Subsidiaries of FedEx Corporation and Amazon.com Services, Inc. represented 29.7% and 6.7% of our annualized rental revenues as of December 31, 2023, respectively, and 29.6% and 6.7% as of December 31, 2022, respectively.

Indebtedness

Indebtedness	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Indebtedness	Indebtedness Our outstanding indebtedness as of December 31, 2023 and 2022 is summarized below: Number of Properties Principal Interest Carrying Value Entity Secured By Balance Rate (1) Type Maturity of Collateral As of December 31,2023 ILPT 104 $ 1,235,000 6.18% Floating 10/09/2024 $ 1,044,028 ILPT 186 650,000 4.31% Fixed 02/07/2029 490,149 ILPT 17 700,000 4.42% Fixed 03/09/2032 505,153 Mountain JV 82 1,400,000 6.17% Floating 03/09/2024 1,857,062 Mountain JV 4 91,000 6.25% Fixed 06/10/2030 183,264 Mountain JV 1 11,380 3.67% Fixed 05/01/2031 28,932 Mountain JV 1 12,916 4.14% Fixed 07/01/2032 43,510 Mountain JV 1 28,622 4.02% Fixed 10/01/2033 84,793 Mountain JV 1 40,019 4.13% Fixed 11/01/2033 129,749 Mountain JV 1 24,433 3.10% Fixed 06/01/2035 46,394 Mountain JV 1 39,411 2.95% Fixed 01/01/2036 99,108 Mountain JV 1 43,850 4.27% Fixed 11/01/2037 110,097 Mountain JV 1 49,313 3.25% Fixed 01/01/2038 113,477 Total/weighted average 4,325,944 5.47% $ 4,735,716 Unamortized debt issuance costs (20,003) Total indebtedness, net $ 4,305,941 As of December 31, 2022 ILPT 104 $ 1,235,000 6.18% Floating 10/09/2024 $ 1,071,815 ILPT 186 650,000 4.31% Fixed 02/07/2029 490,416 ILPT 17 700,000 4.42% Fixed 03/09/2032 518,806 Mountain JV 82 1,400,000 6.17% Floating 03/09/2024 1,909,185 Mountain JV 1 13,556 3.76% Fixed 10/01/2028 63,314 Mountain JV 1 4,865 3.77% Fixed 04/01/2030 39,724 Mountain JV 1 5,145 3.85% Fixed 04/01/2030 39,724 Mountain JV 1 14,392 3.56% Fixed 09/01/2030 50,825 Mountain JV 1 12,691 3.67% Fixed 05/01/2031 30,800 Mountain JV 1 14,144 4.14% Fixed 07/01/2032 44,777 Mountain JV 1 30,949 4.02% Fixed 10/01/2033 87,143 Mountain JV 1 43,219 4.13% Fixed 11/01/2033 131,539 Mountain JV 1 26,175 3.10% Fixed 06/01/2035 47,718 Mountain JV 1 42,087 2.95% Fixed 01/01/2036 101,896 Mountain JV 1 46,109 4.27% Fixed 11/01/2037 113,063 Mountain JV 1 52,031 3.25% Fixed 01/01/2038 116,607 Total/weighted average 4,290,363 5.43% $ 4,857,352 Unamortized debt issuance costs (45,862) Total indebtedness, net $ 4,244,501 (1) Interest rates reflect the impact of interest rate caps, if any, and exclude the impact of the amortization of debt issuance costs, premiums and discounts. We had a $750,000 unsecured revolving credit facility that was available for our general business purposes, including acquisitions. The weighted average annual interest rate for borrowings under this revolving credit facility was 1.41%, for the period from January 1, 2022 to February 25, 2022, and 1.44% for the year ended December 31, 2021. In connection with the closing of the Merger, we entered into the Merger Loans, and repaid the outstanding principal balance under this revolving credit facility and then terminated the agreement governing the facility in accordance with its terms and without penalty. During the year ended December 31, 2022, we recorded a $828 loss on early extinguishment of debt to write off unamortized costs related to this facility. On February 25, 2022, subsidiaries of our consolidated joint venture entered into a loan agreement with a group of institutional lenders, or the Floating Rate Lenders, pursuant to which this joint venture obtained the Floating Rate Loan. Also on February 25, 2022, our consolidated joint venture entered into a guaranty in favor of the Floating Rate Lenders, pursuant to which this joint venture guaranteed certain limited recourse obligations of its subsidiaries with respect to the Floating Rate Loan. The Floating Rate Loan matures in March 2024, subject to three, one year extension options, and requires that interest be paid at an annual rate of SOFR plus a premium of 2.25%. Effective in March 2022, the Floating Rate Lenders exercised their option to increase the interest rate premium in connection with the securitization of the Floating Rate Loan, resulting in an increase of 51.5 basis points to the premium. We also purchased an interest rate cap through March 2024 with a SOFR strike rate equal to 3.40%. The weighted average annual interest rate payable under the Floating Rate Loan was 6.17% for the year ended December 31, 2023, and was 6.10% for the period from our joint venture’s formation date, February 25, 2022, to December 31, 2022. Also on February 25, 2022, certain of our subsidiaries entered into a loan agreement with a group of institutional lenders, or the Bridge Lenders, and a mezzanine loan agreement with an institutional lender, or the Bridge Mezz Lender, together pursuant to which we obtained the Bridge Loan. Also on February 25, 2022, we entered into a guaranty in favor of the Bridge Lenders and the Bridge Mezz Lender, pursuant to which we guaranteed certain limited recourse obligations of our subsidiaries with respect to the Bridge Loan. The Bridge Loan was scheduled to mature in February 2023 and required that interest only be paid at an annual rate of SOFR plus a premium of 1.75% under the loan agreement and a premium of 8.0% under the mezzanine loan agreement. We also purchased an interest rate cap with a SOFR strike rate equal to 2.70%. We repaid the Bridge Loan in full on September 22, 2022 with cash on hand and proceeds from our $1,235,000 floating rate loan, which is further described below. During the year ended December 31, 2022, we recorded a $21,370 loss on early extinguishment of debt to write off unamortized costs related to the Bridge Loan and related interest rate cap. The weighted average annual interest rate payable under the Bridge Loan was 4.24% for the period from February 25, 2022 to September 22, 2022. Also on February 25, 2022, certain of our subsidiaries entered into a loan agreement with a group of institutional lenders, or the Fixed Rate Lenders, and mezzanine loan agreements with a separate group of institutional lenders, or the Fixed Mezz Lenders, pursuant to which we obtained the Fixed Rate Loan. Also on February 25, 2022, we entered into a guaranty in favor of the Fixed Rate Lenders and the Fixed Mezz Lenders, pursuant to which we guaranteed certain limited recourse obligations of our subsidiaries with respect to the Fixed Rate Loan. The interest only Fixed Rate Loan matures in March 2032 and requires that interest be paid at a weighted average annual fixed rate of 4.42%. We used the aggregate net proceeds from the Merger Loans to partially fund the acquisition of MNR. Principal payments on the Floating Rate Loan and Fixed Rate Loan are not required prior to the end of their respective initial terms, subject to certain conditions set forth in the applicable loan agreement. Subject to the satisfaction of certain conditions, we have the option under the applicable loan agreement: (1) to prepay up to $280,000 of the Floating Rate Loan after March 2023, at par with no premium, and to prepay the balance of the Floating Rate Loan at any time, subject to a premium; and (2) to prepay the Fixed Rate Loan in full or part at any time, subject to a premium, and beginning in September 2031, without a premium. On September 22, 2022, certain of our subsidiaries entered into a loan agreement with a group of institutional lenders, or the ILPT Floating Rate Lenders, and a mezzanine loan agreement with a separate group of institutional lenders, or the ILPT Floating Rate Mezz Lenders, pursuant to which we obtained the $1,235,000 loan, or the ILPT Floating Rate Loan, secured by 104 of our properties. The ILPT Floating Rate Loan is comprised of a $1,100,000 mortgage loan and a $135,000 mezzanine loan. Also, on September 22, 2022, we entered into a guaranty in favor of the ILPT Floating Rate Lenders and the ILPT Floating Rate Mezz Lenders, pursuant to which we guaranteed certain limited recourse obligations of our subsidiaries with respect to the ILPT Floating Rate Loan. The ILPT Floating Rate Loan matures on October 9, 2024, subject to three, one year extension options, and requires that interest only payments be made at an annual rate of SOFR, which is capped at an annual rate of 2.25% for the initial term of the ILPT Floating Rate Loan, plus a weighted average premium of 3.93%. Subject to the satisfaction of certain conditions, we have the option: (1) to prepay up to $247,000 of the ILPT Floating Rate Loan at par with no premium; and (2) to prepay the balance of the ILPT Floating Rate Loan in full or in part at any time, subject to a premium. Subject to the satisfaction of certain conditions, we have the option to prepay the ILPT Floating Rate Loan in full or in part at any time at par with no premium. The weighted average interest rate payable under the ILPT Floating Rate Loan was 6.18% for the year ended December 31, 2023 and the period from September 22, 2022 to December 31, 2022. In May 2023, our consolidated joint venture obtained a $91,000 fixed rate, interest only mortgage loan secured by four properties owned by our consolidated joint venture. This mortgage loan matures in June 2030 and requires that interest be paid at an annual rate of 6.25%. A portion of the net proceeds from this mortgage loan was used to repay four outstanding mortgage loans of our consolidated joint venture with an aggregate outstanding principal balance of $35,910 and a weighted average interest rate of 3.70%. We recognized a loss on early extinguishment of debt of $359 for the year ended December 31, 2023 in conjunction with the repayment of these mortgage loans. The agreements governing certain of our indebtedness contain customary covenants and provide for acceleration of payment of all amounts due thereunder upon the occurrence and continuation of certain events of default. The required principal payments due during the next five years and thereafter under all our outstanding debt as of December 31, 2023 are as follows: Principal Payment 2024 $ 2,653,114 2025 18,794 2026 19,495 2027 20,229 2028 20,989 Thereafter 1,593,323 $ 4,325,944

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities Our financial instruments include cash and cash equivalents, restricted cash, mortgages and notes payable, accounts payable and interest rate caps. At December 31, 2023 and 2022, the fair value of our financial instruments approximated their carrying values in our consolidated financial statements, due to their short term nature or floating interest rates, except for our fixed rate mortgage notes payable. Our fixed rate mortgage notes payable had an aggregate carrying value of $1,682,501 and $1,646,736 as of December 31, 2023 and 2022, respectively, and a fair value of $1,553,863 and $1,487,147 as of December 31, 2023 and 2022, respectively. We estimate the fair value of our fixed rate mortgage notes payable using significant unobservable inputs (Level 3), including discounted cash flow analyses and prevailing market rates as of the measurement date. The table below presents certain of our assets measured on a recurring and non-recurring basis at fair value at December 31, 2023 and 2022, categorized by the level of inputs as defined in the fair value hierarchy under GAAP, used in the valuation of each asset: Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) At December 31, 2023 Recurring: Investment in unconsolidated joint venture $ 115,360 $ — $ — $ 115,360 Interest rate caps (1) $ 30,576 $ — $ 30,576 $ — Non-recurring: Real estate properties (2) $ 1,414 $ — $ — $ 1,414 At December 31, 2022 Recurring: Investment in unconsolidated joint venture $ 124,358 $ — $ — $ 124,358 Interest rate caps (1) $ 73,133 $ — $ 73,133 $ — Non-recurring: Real estate properties (2) $ 555,123 $ — $ — $ 555,123 (1) The fair values of our interest rate caps are based on market prices in secondary markets for similar derivative contracts. (2) During the years ended December 31, 2023 and December 31, 2022, we reduced the carrying value of one property and 25 properties, respectively, to their fair values based on third party offers. See Note 2 for more information. At December 31, 2023 and 2022, the fair value of our investment in the unconsolidated joint venture was determined by applying our ownership percentage to the net asset value of the entity. The net asset value of the unconsolidated joint venture is determined by using similar estimation techniques as those used for consolidated real estate properties, including discounting expected future cash flows of the underlying real estate investments based on prevailing market rents over a holding period and including an exit capitalization rate to determine the final year of cash flows. The discount rates, exit capitalization rates and holding periods used are Level 3 significant unobservable inputs and are shown in the table below: Exit Capitalization Valuation Technique Discount Rates Rates Holding Periods At December 31, 2023 Investment in unconsolidated joint venture Discounted cash flow 5.75% - 8.00% 5.25% - 6.50% 9 - 12 years At December 31, 2022 Investment in unconsolidated joint venture Discounted cash flow 5.25% - 7.00% 4.75% - 6.00% 10 years The table below presents a summary of the changes in fair value for our investment in the unconsolidated joint venture: Year Ended December 31, 2023 2022 Beginning balance $ 124,358 $ 143,022 Equity in earnings of unconsolidated joint venture 902 7,078 Distributions from unconsolidated joint venture (9,900) (25,742) Ending balance $ 115,360 $ 124,358

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Shareholders' Equity	Shareholders’ Equity Common Share Awards We have common shares available for issuance under the terms of our 2018 Equity Compensation Plan, or the 2018 Plan. During the years ended December 31, 2023, 2022 and 2021, we awarded to our officers and other employees of The RMR Group LLC, or RMR, annual share awards of 188,350, 173,300 and 118,800 of our common shares, respectively, valued at $684, $1,184 and $3,086, in aggregate, respectively. In accordance with our Trustee compensation arrangements, we awarded each of our then Trustees 20,000 of our common shares with an aggregate value of $249, 3,500 of our common shares with an aggregate value of $369 and 3,500 of our common shares with an aggregate value of $538 during the years ended December 31, 2023, 2022 and 2021, respectively, as part of their annual compensation. The values of the share awards were based upon the closing price of our common shares trading on The Nasdaq Stock Market LLC, or Nasdaq, on the dates of awards. The common shares awarded to our Trustees vested immediately. The common shares awarded to our officers and certain other employees of RMR vest in five equal annual installments beginning on the date of award. We recognize share forfeitures as they occur and include the value of awarded shares in general and administrative expenses ratably over the vesting period. A summary of shares awarded, vested and forfeited under the terms of the 2018 Plan for the years ended December 31, 2023, 2022 and 2021 is as follows: Year Ended December 31, 2023 2022 2021 Weighted Weighted Weighted Average Average Average Number Grant Date Number Grant Date Number Grant Date of Shares Fair Value of Shares Fair Value of Shares Fair Value Unvested at beginning of year 260,800 $ 15.07 192,380 $ 24.15 162,200 $ 22.37 Granted 328,350 2.84 197,800 7.85 139,800 25.93 Vested (296,890) 8.02 (127,480) 17.44 (108,920) 23.78 Forfeited (3,950) 11.40 (1,900) 24.55 (700) 22.24 Unvested at end of year 288,310 $ 8.50 260,800 $ 15.07 192,380 $ 24.15 The 288,310 unvested shares as of December 31, 2023 are scheduled to vest as follows: 100,280 shares in 2024, 84,660 shares in 2025, 66,000 shares in 2026 and 37,370 shares in 2027. As of December 31, 2023, the estimated future compensation expense for the unvested shares was approximately $2,111. The weighted average period over which the compensation expense will be recorded is approximately 23 months. During the years ended December 31, 2023, 2022 and 2021, we recorded $1,741, $2,221 and $2,328, respectively, of compensation expense related to the 2018 Plan. At December 31, 2023, 3,156,613 common shares remain available for issuance under the 2018 Plan. Common Share Purchases During the years ended December 31, 2023, 2022 and 2021, we purchased an aggregate of 49,158, 32,347 and 35,596 of our common shares, respectively, valued at weighted average prices of $3.29, $7.50 and $25.91 per common share, respectively, from certain of our Trustees, our officers and certain other current and former officers and employees of RMR in satisfaction of tax withholding and payment obligations in connection with the vesting of awards of our common shares. Distributions During the years ended December 31, 2023, 2022 and 2021, we paid distributions on our common shares as follows: Annual Per Characterization of Distribution Share Total Return of Ordinary Capital Year Distribution Distribution Capital Income Gain 2023 $ 0.04 $ 2,627 100.0 % — % — % 2022 $ 0.68 $ 44,477 89.7 % 9.6 % 0.7 % 2021 $ 1.32 $ 86,236 — % 93.2 % 6.8 % On January 11, 2024, we declared a regular quarterly distribution to common shareholders of record on January 22, 2024 of $0.01 per common share, or approximately $658. We expect to pay this distribution to our shareholders on or about February 15, 2024 using cash on hand.

Per Common Shares Amounts

Per Common Shares Amounts	12 Months Ended
	Dec. 31, 2023
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Per Common Shares Amounts	Per Common Share Amounts We calculate basic earnings per common share by dividing net (loss) income attributable to common shareholders by the weighted average number of our common shares outstanding during the period. We calculate diluted earnings per share using the more dilutive of the two class method or the treasury stock method. Unvested common share awards, and the related impact on earnings, are considered when calculating diluted earnings per share. The calculation of basic and diluted earnings per share is as follows: Year Ended December 31, 2023 2022 2021 Numerators: Net (loss) income attributable to common shareholders $ (107,989) $ (226,723) $ 119,682 Income attributable to participating unvested share awards (10) (131) (307) Net (loss) income attributable to common shareholders used in calculating earnings per share $ (107,999) $ (226,854) $ 119,375 Denominators: Weighted average common shares for basic earnings per share 65,430 65,248 65,169 Effect of unvested share awards — — 42 Weighted average common shares for diluted earnings per share 65,430 65,248 65,211 Net (loss) income attributable to common shareholders per common share (basic and diluted) $ (1.65) $ (3.47) $ 1.83

Business and Property Managemen

Business and Property Management Agreements with RMR	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Business and Property Management Agreements with RMR	Business and Property Management Agreements with RMR We have no employees. The personnel and various services we require to operate our business are provided to us by RMR. We have two agreements with RMR to provide management services to us: (1) a business management agreement, which relates to our business generally; and (2) a property management agreement, which relates to our property level operations. Management Agreements with RMR. Our management agreements with RMR provide for an annual base management fee, an annual incentive management fee and property management and construction supervision fees, payable in cash, among other terms: • Base Management Fee . The annual base management fee payable to RMR by us for each applicable period is equal to the lesser of: • the sum of (i) 0.5% of the average aggregate historical cost of the real estate assets acquired from a REIT to which RMR provided business management or property management services, or the Transferred Assets, plus (ii) 0.7% of the average aggregate historical cost of our real estate investments excluding the Transferred Assets up to $250,000, plus (iii) 0.5% of the average aggregate historical cost of our real estate investments excluding the Transferred Assets exceeding $250,000; and • the sum of (i) 0.7% of the average closing price per share of our common shares on the stock exchange on which such shares are principally traded during such period, multiplied by the average number of our common shares outstanding during such period, plus the daily weighted average of the aggregate liquidation preference of each class of our preferred shares outstanding during such period, plus the daily weighted average of the aggregate principal amount of our consolidated indebtedness during such period, or, together, our Average Market Capitalization, up to $250,000, plus (ii) 0.5% of our Average Market Capitalization exceeding $250,000. The average aggregate historical cost of our real estate investments includes our consolidated assets invested, directly or indirectly, in equity interests in or loans secured by real estate and personal property owned in connection with such real estate (including acquisition related costs and costs which may be allocated to intangibles or are unallocated), all before reserves for depreciation, amortization, impairment charges or bad debts or other similar non-cash reserves. • Incentive Management Fee . The incentive management fee which may be earned by RMR for an annual period is calculated as follows: • An amount, subject to a cap, based on the value of our common shares outstanding, equal to 12.0% of the product of: • our equity market capitalization on the last trading day of the year immediately prior to the relevant three year measurement period, and • the amount (expressed as a percentage) by which the total return per share, as defined in the business management agreement and further described below, of our common shareholders (i.e., share price appreciation plus dividends) exceeds the total shareholder return of the applicable market index, or the benchmark return per share, for the relevant measurement period. The MSCI U.S. REIT/Industrial REIT Index is the benchmark index for periods on and after August 1, 2021, and the SNL U.S. REIT Industrial Index is the benchmark index for periods prior to August 1, 2021. For purposes of the total return per share of our common shareholders, share price appreciation for a measurement period is determined by subtracting (i) the closing price of our common shares on Nasdaq on the last trading day of the year immediately before the first year of the applicable measurement period, or the initial share price, from (ii) the average closing price of our common shares on the 10 consecutive trading days having the highest average closing prices during the final 30 trading days in the last year of the measurement period. • The calculation of the incentive management fee (including the determinations of our equity market capitalization, initial share price and the total return per share of our common shareholders) is subject to adjustments if we issue or repurchase our common shares, or our common shares are forfeited, during the measurement period. • No incentive management fee is payable by us unless our total return per share during the measurement period is positive. • The measurement periods are three year periods ending with the year for which the incentive management fee is being calculated. • If our total return per share exceeds 12.0% per year in any measurement period, the benchmark return per share is adjusted to be the lesser of the total shareholder return of the applicable market index for such measurement period and 12.0% per year, or the adjusted benchmark return per share. In instances where the adjusted benchmark return per share applies, the incentive management fee will be reduced if our total return per share is between 200 basis points and 500 basis points below the applicable market index in any year, by a low return factor, as defined in the business management agreement, and there will be no incentive management fee paid if, in these instances, our total return per share is more than 500 basis points below the applicable market index in any year, determined on a cumulative basis (i.e., between 200 basis points and 500 basis points per year multiplied by the number of years in the measurement period and below the applicable market index). • The incentive management fee is subject to a cap. The cap is equal to the value of the number of our common shares which would, after issuance, represent 1.5% of the number of our common shares then outstanding multiplied by the average closing price of our common shares during the 10 consecutive trading days having the highest average closing prices during the final 30 trading days of the relevant measurement period. • Incentive management fees we paid to RMR for any period may be subject to “clawback” if our financial statements for that period are restated due to material non-compliance with any financial reporting requirements under the securities laws as a result of the bad faith, fraud, willful misconduct or gross negligence of RMR and the amount of the incentive management fee we paid was greater than the amount we would have paid based on the restated financial statements. Pursuant to our business management agreement with RMR, we recognized business management fees of $23,154, $23,701 and $10,562 for the years ended December 31, 2023, 2022 and 2021, respectively. The business management fees we recognized are included in general and administrative expenses in our consolidated statements of comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021. We did not incur any incentive management fee pursuant to our business management agreement for the years ended December 31, 2023, 2022 and 2021. • Property Management and Construction Supervision Fees . The property management fees payable to RMR by us for each applicable period are equal to 3.0% of gross collected rents and the construction supervision fees payable to RMR by us for each applicable period are equal to 5.0% of construction costs. Pursuant to our property management agreement with RMR, we recognized aggregate property management and construction supervision fees of $13,449, $11,916 and $6,606 for the years ended December 31, 2023, 2022 and 2021, respectively. For the years ended December 31, 2023, 2022 and 2021, $12,800, $11,058 and $6,395, respectively, of the total property management and construction supervision fees were included in other operating expenses in our consolidated statements of comprehensive income (loss) and $649, $858 and $211, respectively, were capitalized as building improvements in our consolidated balance sheets. The amounts capitalized are being depreciated over the estimated useful lives of the related capital assets. • Expense Reimbursement . We are generally responsible for all of our operating expenses, including certain expenses incurred or arranged by RMR on our behalf. We are generally not responsible for payment of RMR’s employment, office or administrative expenses incurred to provide management services to us, except for the employment and related expenses of RMR’s employees assigned to work exclusively or partly at our properties, our share of the wages, benefits and other related costs of RMR’s centralized accounting personnel, our share of RMR’s costs for providing our internal audit function and as otherwise agreed. Our property level operating expenses are generally incorporated into rents charged to our tenants, including certain payroll and related costs incurred by RMR. We reimbursed RMR amounts totaling $8,378, $6,785 and $4,786 for these expenses and costs for the years ended December 31, 2023, 2022 and 2021, respectively. These amounts are included in other operating expenses and general and administrative expenses, as applicable, for these periods. • Term . Our management agreements with RMR have terms that end on December 31, 2043, and automatically extend on December 31st of each year for an additional year, so that the terms of our management agreements thereafter end on the 20th anniversary of the date of the extension. • Termination Rights . We have the right to terminate one or both of our management agreements with RMR: (i) at any time on 60 days’ written notice for convenience; (ii) immediately on written notice for cause, as defined therein; (iii) on written notice given within 60 days after the end of an applicable calendar year for a performance reason, as defined therein; and (iv) by written notice during the 12 months following a change of control of RMR, as defined therein. RMR has the right to terminate the management agreements for good reason, as defined therein. • Termination Fee . If we terminate one or both of our management agreements with RMR for convenience, or if RMR terminates one or both of our management agreements for good reason, we have agreed to pay RMR a termination fee in an amount equal to the sum of the present values of the monthly future fees, as defined therein, for the terminated management agreement(s) for the term that was remaining prior to such termination, which, depending on the time of termination would be between 19 and 20 years. If we terminate one or both of our management agreements with RMR for a performance reason, we have agreed to pay RMR the termination fee calculated as described above, but assuming a 10 year term was remaining prior to the termination. We are not required to pay any termination fee if we terminate our management agreements with RMR for cause or as a result of a change of control of RMR. • Transition Services . RMR has agreed to provide certain transition services to us for 120 days following an applicable termination by us or notice of termination by RMR, including cooperating with us and using commercially reasonable efforts to facilitate the orderly transfer of the management and real estate investment services provided under our business management agreement and to facilitate the orderly transfer of the management of the managed properties under our property management agreement, as applicable. • Vendors . Pursuant to our management agreements with RMR, RMR may from time to time negotiate on our behalf with certain third party vendors and suppliers for the procurement of goods and services to us. As part of this arrangement, we may enter agreements with RMR and other companies to which RMR or its subsidiaries provide management services for the purpose of obtaining more favorable terms from such vendors and suppliers. • Investment Opportunities . Under our business management agreement with RMR, we acknowledge that RMR may engage in other activities or businesses and act as the manager to any other person or entity (including other REITs) even though such person or entity has investment policies and objectives similar to ours and we are not entitled to preferential treatment in receiving information, recommendations and other services from RMR. Management Agreements Between Our Joint Ventures and RMR. We have two separate joint venture arrangements. One of these joint ventures, the unconsolidated joint venture, is with two, third party institutional investors. This joint venture owns 18 properties, and we own a 22% equity interest in this joint venture. The other joint venture, our consolidated joint venture, which we entered into in connection with the Merger, is with one, third party institutional investor. This joint venture owns 94 properties. We own a 61% equity interest in this joint venture, and the other joint venture investor acquired a 39% equity interest in the joint venture from us for $589,411, as of the completion of the transaction, in connection with our consolidated joint venture’s formation in February 2022 . See Note 3 for further information about our joint ventures. RMR provides management services to both of these joint ventures. We are not obligated to pay management fees to RMR under our management agreements with RMR for the services it provides to the unconsolidated joint venture. We are obligated to pay management fees to RMR under our management agreements with RMR for the services it provides to our consolidated joint venture; however, our consolidated joint venture pays management fees directly to RMR, and any such fees paid by our consolidated joint venture are credited against the fees payable by us to RMR. See Note 3 for further information about our joint ventures. See Note 10 for further information regarding our relationships, agreements and transactions with RMR.

Related Person Transactions

Related Person Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Person Transactions	Related Person Transactions We have relationships and historical and continuing transactions with RMR, The RMR Group Inc., or RMR Inc., and others related to them, including other companies to which RMR or its subsidiaries provide management services and some of which have trustees, directors or officers who are also our Trustees or officers. RMR is a majority owned subsidiary of RMR Inc. The Chair of our Board of Trustees and one of our Managing Trustees, Adam D. Portnoy, is the sole trustee, an officer and the controlling shareholder of ABP Trust, which is the controlling shareholder of RMR Inc., the chair of the board of directors, a managing director and the president and chief executive officer of RMR Inc. and an officer and employee of RMR. Matthew P. Jordan, our other Managing Trustee, is an executive vice president and the chief financial officer and treasurer of RMR Inc., an officer and employee of RMR and an officer of ABP Trust. John G. Murray, one of our Managing Trustees until June 1, 2022 and our President and Chief Executive Officer until March 31, 2022, also serves as an officer and employee of RMR, and each of our current officers is also an officer and employee of RMR. Some of our Independent Trustees also serve as independent trustees of other public companies to which RMR or its subsidiaries provide management services. Adam D. Portnoy serves as chair of the boards and as a managing trustee of these public companies. Other officers of RMR, including Messrs. Jordan and Murray and certain of our officers, serve as managing trustees or officers of certain of these companies. Our Manager, RMR . We have two agreements with RMR to provide management services to us. See Note 9 for further information regarding our management agreements with RMR. Joint Ventures. We have two separate joint venture arrangements. See Note 3 for further information regarding our joint ventures, including properties we have sold to, and equity interests we have sold in, these joint ventures. As of December 31, 2023 and 2022, we owed $680 and $616, respectively, to the unconsolidated joint venture for rents that we collected on behalf of that joint venture. These amounts are presented as due to related persons in our consolidated balance sheets. RMR provides management services to each of our joint ventures. See Note 9 for further information regarding RMR’s management agreements with our joint ventures. Share Awards to RMR Employees . As described in Note 7, we award shares to our officers and other employees of RMR annually. Generally, one fifth of these awards vest on the grant date and one fifth vests on each of the next four anniversaries of the grant dates. In certain instances, we may accelerate the vesting of an award, such as in connection with the award holder’s retirement as an officer of us or an officer or employee of RMR. These awards to RMR employees are in addition to the share awards to our Managing Trustees, as Trustee compensation, and the fees we paid to RMR. See Note 7 for information regarding our share awards and activity as well as certain share repurchases we made in connection with share award recipients satisfying tax withholding obligations on the vesting of share awards. TravelCenters of America Inc. In May 2021, we acquired a property located in the Mesquite, TX market from TravelCenters of America Inc., or TA, for a purchase price of $2,319, including acquisition related costs of $119. Until TA was acquired in May 2023 by BP Products North America Inc., RMR provided management services to TA and Mr. Portnoy served as the chair of the board of directors and as a managing director of TA. See Note 3 for further information regarding our acquisition and disposition of the property in Mesquite, TX.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Risk Management Objective of Using Derivatives We are exposed to certain risks relating to our ongoing business operations, including the impact of changes in interest rates. The only risk currently managed by us using derivative instruments is our interest rate risk. We have an interest rate cap agreement to manage our interest rate risk exposure on each of the ILPT Floating Rate Loan and the Floating Rate Loan, both with interest payable at a rate equal to SOFR plus a premium. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, we only enter into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which we or our related parties may also have other financial relationships. We do not anticipate that any of the counterparties will fail to meet their obligations. Cash Flow Hedges of Interest Rate Risk We record all derivatives in our consolidated balance sheets at fair value. The following table summarizes the terms of our outstanding interest rate cap agreements designated as cash flow hedges of interest rate risk at December 31, 2023 and 2022: Balance Sheet Underlying Strike Notional Fair Value at December 31, Derivative Line Item Instrument Rate Amount 2023 2022 Interest rate cap Other assets Floating Rate Loan 3.40% $ 1,400,000 $ 5,516 $ 23,337 Interest rate cap Other assets ILPT Floating Rate Loan 2.25% $ 1,235,000 25,060 49,796 $ 30,576 $ 73,133 Interest rate caps designated as cash flow hedges involve the receipt of variable amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. For derivatives designated and qualifying as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in cumulative other comprehensive income and subsequently reclassified into interest expense in the same period during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis, as documented at hedge inception in accordance with our accounting policy election. The earnings recognition of excluded components is presented in interest expense. Amounts reported in cumulative other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on our applicable debt. In September 2022, in conjunction with the repayment of the Bridge Loan, we sold two interest rate cap instruments with an aggregate notional amount of $1,385,158, a strike rate equal to 2.70% and an original expiration date of March 15, 2023 for $7,740. As the underlying debt instrument that these interest rate caps were intended to hedge was repaid in its entirety and the related interest expense was no longer probable to occur, these interest rate caps were no longer designated as cash flow hedges and the remaining deferred gain was reclassified from cumulative other comprehensive income to loss on early extinguishment of debt. The following table summarizes the activity related to our cash flow hedges within cumulative other comprehensive income for the periods shown: Year Ended December 31, 2023 2022 Amount of gain recognized in cumulative other comprehensive income $ 15,640 $ 34,825 Amount reclassified from cumulative other comprehensive income into interest expense (33,639) 2,330 Amount reclassified from cumulative other comprehensive income to loss on early extinguishment of debt — (6,961) Unrealized (loss) gain on derivative instrument recognized in cumulative other comprehensive loss $ (17,999) $ 30,194

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2023 (dollars in thousands) Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 510 Production Avenue Madison AL (A) $ 1,200 $ 9,967 $ — $ (2,118) $ 973 $ 8,076 $ 9,049 $ (409) 2/25/2022 2004 6735 Trippel Road Mobile AL (B) 1,500 44,354 — — 1,500 44,354 45,854 (2,344) 2/25/2022 2017 11224 Will Walker Road Vance AL (A) 3,901 40,857 550 — 3,901 41,407 45,308 (3,478) 2/25/2022 2021 3200 Rodeo Court Bessemer AL (C) 3,201 23,462 — — 3,201 23,462 26,663 (1,241) 2/25/2022 2021 4501 Industrial Drive Fort Smith AR (A) 900 3,485 — — 900 3,485 4,385 (777) 1/29/2015 2013 9860 West Buckeye Road Tolleson AZ (A) 4,801 26,716 1 — 4,802 26,716 31,518 (2,468) 2/25/2022 2002 3870 Ronald Reagan Boulevard Johnstown CO (A) 2,780 9,722 (1) — 2,780 9,721 12,501 (1,532) 4/9/2019 2007 125 North Troy Hill Road Colorado Springs CO (A) 5,402 32,981 10 (10,790) 3,882 23,721 27,603 (1,025) 2/25/2022 2016 14257 E. Easter Avenue Centennial CO (A) 1,801 10,563 12 (2,607) 1,422 8,347 9,769 (507) 2/25/2022 2003 955 Aeroplaza Drive Colorado Springs CO (A) 800 7,412 210 — 800 7,622 8,422 (1,672) 1/29/2015 2012 13400 East 39th Avenue and 3800 Wheeling Street Denver CO (A) 3,100 12,955 16 — 3,100 12,971 16,071 (2,892) 1/29/2015 1973 150 Greenhorn Drive Pueblo CO (A) 200 4,177 11 — 200 4,188 4,388 (931) 1/29/2015 2013 2 Tower Drive Wallingford CT (A) 1,471 2,165 889 — 1,472 3,053 4,525 (1,269) 10/24/2006 1978 50 Hollow Tree Lane Newington CT (C) 600 4,793 56 — 600 4,849 5,449 (298) 2/25/2022 2000 235 Great Pond Road Windsor CT (A) 2,400 9,469 — — 2,400 9,469 11,869 (2,703) 7/20/2012 2004 2100 NW 82nd Avenue Miami FL (A) 144 1,297 454 — 144 1,751 1,895 (987) 3/19/1998 1987 10450 Doral Boulevard Doral FL (A) 15,225 28,102 — — 15,225 28,102 43,327 (5,154) 6/27/2018 1996 13509 Waterworks Street Jacksonville FL (A) 3,701 37,720 — (9,346) 2,866 29,209 32,075 (1,264) 2/25/2022 2014 27200 SW 127th Avenue Homestead FL (A) 24,808 22,762 — (8,376) 20,440 18,754 39,194 (812) 2/25/2022 2017 3155 Grissom Parkway Cocoa FL (A) 3,101 20,542 18 (4,620) 2,495 16,546 19,041 (836) 2/25/2022 2006 950 Bennett Road Orlando FL (A) 2,701 12,334 213 (737) 2,566 11,945 14,511 (619) 2/25/2022 1997 3736 Salisbury Road Jacksonville FL (A) 1,600 12,071 185 (2,998) 1,252 9,606 10,858 (736) 2/25/2022 1998 1341 N. Clyde Morris Boulevard Daytona Beach FL (A) 3,001 38,858 657 (1,762) 2,875 37,879 40,754 (1,614) 2/25/2022 2017 5000 North Ridge Trail Davenport FL (C) 4,001 52,290 — — 4,001 52,290 56,291 (2,764) 2/25/2022 2016 14001 Jetport Loop Ft. Myers FL (C) 5,902 25,616 — — 5,902 25,616 31,518 (1,354) 2/25/2022 2016 8411 Florida Mining Boulevard Tampa FL (C) 7,602 29,985 19 — 7,602 30,004 37,606 (1,852) 2/25/2022 2003 5101 West Waters Avenue Tampa FL (C) 3,101 12,134 157 — 3,101 12,291 15,392 (914) 2/25/2022 1997 3404 Cragmont Drive Tampa FL (C) 1,600 6,557 156 — 1,600 6,713 8,313 (485) 2/25/2022 1989 7569 Golf Course Boulevard Punta Gorda FL (C) — 6,042 — — — 6,042 6,042 (319) 2/25/2022 2007 1900 Interstate Boulevard Lakeland FL (C) 500 3,405 — — 500 3,405 3,905 (209) 2/25/2022 1993 2902 Gun Club Road Augusta GA (A) 1,200 9,861 41 (6,995) 441 3,666 4,107 (157) 2/25/2022 2004 1078 Bertram Road Augusta GA (A) 900 1,867 77 (1,374) 454 1,016 1,470 (76) 2/25/2022 1993 590 Northport Parkway Savannah GA (C) 16,905 66,945 — — 16,905 66,945 83,850 (3,537) 2/25/2022 2017 3150 Highway 42 Locust Grove GA (B) 9,803 109,420 40 — 9,805 109,458 119,263 (5,785) 2/25/2022 2020 Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 650 Braselton Parkway Braselton GA (B) 6,902 82,238 — — 6,902 82,238 89,140 (4,347) 2/25/2022 2018 700 Hudson Road Griffin GA (C) 900 20,442 243 — 900 20,685 21,585 (1,525) 2/25/2022 2002 505 Morgan Lakes Industrial Blvd. Savannah GA (C) 8,203 31,714 — — 8,203 31,714 39,917 (1,679) 2/25/2022 2018 2002 International Boulevard Augusta GA (D) 3,818 30,780 — — 3,818 30,780 34,598 (1,287) 7/14/2022 2022 2815 Kaihikapu Street Honolulu HI (E) 1,818 — 6 — 1,818 6 1,824 (2) 12/5/2003 — 609 Ahua Street Honolulu HI (E) 616 — — — 616 — 616 — 12/5/2003 — 2849 Kaihikapu Street Honolulu HI (E) 860 — — — 860 — 860 — 12/5/2003 — 709 Ahua Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 2839 Kilihau Street Honolulu HI (E) 627 — — — 627 — 627 — 12/5/2003 — 2906 Kaihikapu Street Honolulu HI (E) 1,814 2 — — 1,814 2 1,816 (1) 12/5/2003 — 733 Mapunapuna Street Honolulu HI (E) 3,403 — — — 3,403 — 3,403 (2) 12/5/2003 — 2864 Awaawaloa Street Honolulu HI (E) 1,836 — — — 1,836 — 1,836 — 12/5/2003 — 2850 Awaawaloa Street Honolulu HI (E) 287 172 — — 287 172 459 (86) 12/5/2003 — 2806 Kaihikapu Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 2838 Kilihau Street Honolulu HI (E) 4,262 — — — 4,262 — 4,262 — 12/5/2003 — 852 Mapunapuna Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 812 Mapunapuna Street Honolulu HI (E) 1,960 25 626 — 2,611 — 2,611 — 12/5/2003 — 2969 Mapunapuna Street Honolulu HI (E) 4,038 15 — — 4,038 15 4,053 (11) 12/5/2003 — 855 Ahua Street Honolulu HI (E) 1,834 — — — 1,834 — 1,834 — 12/5/2003 — 2855 Kaihikapu Street Honolulu HI (E) 1,807 — — — 1,807 — 1,807 — 12/5/2003 — 865 Ahua Street Honolulu HI (E) 1,846 — 153 — 1,846 153 1,999 — 12/5/2003 — 719 Ahua Street Honolulu HI (E) 1,960 — — — 1,960 — 1,960 — 12/5/2003 — 759 Puuloa Road Honolulu HI (E) 1,766 3 (3) — 1,766 — 1,766 — 12/5/2003 — 770 Mapunapuna Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 2915 Kaihikapu Street Honolulu HI (E) 2,579 — — — 2,579 — 2,579 — 12/5/2003 — 704 Mapunapuna Street Honolulu HI (E) 2,390 685 — — 2,390 685 3,075 (343) 12/5/2003 — 822 Mapunapuna Street Honolulu HI (E) 1,795 15 (15) — 1,795 — 1,795 — 12/5/2003 — 842 Mapunapuna Street Honolulu HI (E) 1,795 14 (14) — 1,795 — 1,795 — 12/5/2003 — 2839 Mokumoa Street Honolulu HI (E) 1,942 — — — 1,942 — 1,942 — 12/5/2003 — 2861 Mokumoa Street Honolulu HI (E) 3,867 — — — 3,867 — 3,867 — 12/5/2003 — 619 Mapunapuna Street Honolulu HI (E) 1,401 2 12 — 1,401 14 1,415 (4) 12/5/2003 — 2847 Awaawaloa Street Honolulu HI (E) 582 303 184 — 582 487 1,069 (189) 12/5/2003 — 2928 Kaihikapu Street - A Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 2928 Kaihikapu Street - B Honolulu HI (E) 1,948 — — — 1,948 — 1,948 — 12/5/2003 — 850 Ahua Street Honolulu HI (E) 2,682 2 (2) — 2,682 — 2,682 — 12/5/2003 — 659 Ahua Street Honolulu HI (E) 860 20 (20) — 860 — 860 — 12/5/2003 — 2831 Awaawaloa Street Honolulu HI (E) 860 — — — 860 — 860 — 12/5/2003 — 2760 Kam Highway Honolulu HI (E) 703 — 191 — 703 191 894 (48) 12/5/2003 — 2965 Mokumoa Street Honolulu HI (E) 2,140 — — — 2,140 — 2,140 — 12/5/2003 — 2814 Kilihau Street Honolulu HI (E) 1,925 — — — 1,925 — 1,925 — 12/5/2003 — 2804 Kilihau Street Honolulu HI (E) 1,775 2 (2) — 1,775 — 1,775 — 12/5/2003 — Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 2833 Kilihau Street Honolulu HI (E) 601 — — — 601 — 601 — 12/5/2003 — 692 Mapunapuna Street Honolulu HI (E) 1,796 2 (2) — 1,796 — 1,796 — 12/5/2003 — 669 Ahua Street Honolulu HI (E) 1,801 14 123 — 1,801 137 1,938 (37) 12/5/2003 — 761 Ahua Street Honolulu HI (E) 3,757 2 338 — 3,757 340 4,097 (71) 12/5/2003 — 702 Ahua Street Honolulu HI (E) 1,784 3 (3) — 1,784 — 1,784 — 12/5/2003 — 645 Ahua Street Honolulu HI (E) 882 — 90 — 882 90 972 — 12/5/2003 — 675 Mapunapuna Street Honolulu HI (E) 1,081 — — — 1,081 — 1,081 — 12/5/2003 — 2858 Kaihikapu Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 2857 Awaawaloa Street Honolulu HI (E) 983 — — — 983 — 983 — 12/5/2003 — 2812 Awaawaloa Street Honolulu HI (E) 1,801 3 (3) — 1,801 — 1,801 — 12/5/2003 — 2809 Kaihikapu Street Honolulu HI (E) 1,837 — — — 1,837 — 1,837 — 12/5/2003 — 803 Ahua Street Honolulu HI (E) 3,804 — — — 3,804 — 3,804 — 12/5/2003 — 2889 Mokumoa Street Honolulu HI (E) 1,783 5 (5) — 1,783 — 1,783 — 12/5/2003 — 819 Ahua Street Honolulu HI (E) 4,821 583 30 — 4,821 613 5,434 (307) 12/5/2003 — 830 Mapunapuna Street Honolulu HI (E) 1,801 25 (25) — 1,801 — 1,801 — 12/5/2003 — 2831 Kaihikapu Street Honolulu HI (E) 1,272 529 55 — 1,272 584 1,856 (288) 12/5/2003 — 2846-A Awaawaloa Street Honolulu HI (E) 2,181 954 — — 2,181 954 3,135 (478) 12/5/2003 — 2816 Awaawaloa Street Honolulu HI (E) 1,009 27 — — 1,009 27 1,036 (14) 12/5/2003 — 673 Ahua Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 697 Ahua Street Honolulu HI (E) 994 811 (4) — 994 807 1,801 (405) 12/5/2003 — 808 Ahua Street Honolulu HI (E) 3,279 — — — 3,279 — 3,279 — 12/5/2003 — 659 Puuloa Road Honolulu HI (E) 1,807 — — — 1,807 — 1,807 — 12/5/2003 — 666 Mapunapuna Street Honolulu HI (E) 860 2 (2) — 860 — 860 — 12/5/2003 — 679 Puuloa Road Honolulu HI (E) 1,807 3 (3) — 1,807 — 1,807 — 12/5/2003 — 673 Mapunapuna Street Honolulu HI (E) 1,801 20 (20) — 1,801 — 1,801 — 12/5/2003 — 2827 Kaihikapu Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 2826 Kaihikapu Street Honolulu HI (E) 3,921 — — — 3,921 — 3,921 — 12/5/2003 — 685 Ahua Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 2844 Kaihikapu Street Honolulu HI (E) 1,960 14 62 — 1,960 76 2,036 — 12/5/2003 — 789 Mapunapuna Street Honolulu HI (E) 2,608 3 (3) — 2,608 — 2,608 — 12/5/2003 — 2808 Kam Highway Honolulu HI (E) 310 — — — 310 — 310 — 12/5/2003 — 2815 Kilihau Street Honolulu HI (E) 287 — — — 287 — 287 — 12/5/2003 — 2821 Kilihau Street Honolulu HI (E) 287 — — — 287 — 287 — 12/5/2003 — 2829 Kilihau Street Honolulu HI (E) 287 — — — 287 — 287 — 12/5/2003 — 2819 Mokumoa Street - A Honolulu HI (E) 1,821 — — — 1,821 — 1,821 — 12/5/2003 — 2819 Mokumoa Street - B Honolulu HI (E) 1,816 — — — 1,816 — 1,816 — 12/5/2003 — 2879 Mokumoa Street Honolulu HI (E) 1,789 — — — 1,789 — 1,789 — 12/5/2003 — 2927 Mokumoa Street Honolulu HI (E) 1,778 — — — 1,778 — 1,778 — 12/5/2003 — 2833 Paa Street #2 Honolulu HI (E) 1,675 — — — 1,675 — 1,675 — 12/5/2003 — 855 Mapunapuna Street Honolulu HI (E) 3,265 — — — 3,265 — 3,265 — 12/5/2003 — 2829 Awaawaloa Street Honolulu HI (E) 1,720 2 82 — 1,720 84 1,804 — 12/5/2003 — Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 766 Mapunapuna Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 2908 Kaihikapu Street Honolulu HI (E) 1,798 23 (11) — 1,798 12 1,810 (4) 12/5/2003 — 729 Ahua Street Honolulu HI (E) 1,801 — 18 — 1,801 18 1,819 — 12/5/2003 — 739 Ahua Street Honolulu HI (E) 1,801 — 18 — 1,801 18 1,819 — 12/5/2003 — 2868 Kaihikapu Street Honolulu HI (E) 1,801 — — — 1,801 — 1,801 — 12/5/2003 — 660 Ahua Street Honolulu HI (E) 1,783 4 45 — 1,783 49 1,832 — 12/5/2003 — 2869 Mokumoa Street Honolulu HI (E) 1,794 — — — 1,794 — 1,794 — 12/5/2003 — 2836 Awaawaloa Street Honolulu HI (E) 1,353 — — — 1,353 — 1,353 — 12/5/2003 — 113 Puuhale Road Honolulu HI (E) 3,729 — — — 3,729 — 3,729 — 12/5/2003 — 2140 Kaliawa Street Honolulu HI (E) 931 — — — 931 — 931 — 12/5/2003 — 165 Sand Island Access Road Honolulu HI (E) 758 — — — 758 — 758 — 12/5/2003 — 2106 Kaliawa Street Honolulu HI (E) 1,568 — 228 — 1,568 228 1,796 (144) 12/5/2003 — 140 Puuhale Road Honolulu HI (E) 1,100 — 41 — 1,100 41 1,141 (15) 12/5/2003 — 2020 Auiki Street Honolulu HI (E) 2,385 — — — 2,385 — 2,385 — 12/5/2003 — 2103 Kaliawa Street Honolulu HI (E) 3,212 — — — 3,212 — 3,212 — 12/5/2003 — 1926 Auiki Street Honolulu HI (E) 2,872 — 1,722 — 2,872 1,722 4,594 (772) 12/5/2003 1959 1931 Kahai Street Honolulu HI (E) 3,779 — — — 3,779 — 3,779 — 12/5/2003 — 215 Puuhale Road Honolulu HI (E) 2,117 — — — 2,117 — 2,117 — 12/5/2003 — 207 Puuhale Road Honolulu HI (E) 2,024 — — — 2,024 — 2,024 — 12/5/2003 — 125 Puuhale Road Honolulu HI (E) 1,630 — — — 1,630 — 1,630 — 12/5/2003 — 125B Puuhale Road Honolulu HI (E) 2,815 — — — 2,815 — 2,815 — 12/5/2003 — 2001 Kahai Street Honolulu HI (E) 1,091 — — — 1,091 — 1,091 — 12/5/2003 — 2110 Auiki Street Honolulu HI (E) 837 — — — 837 — 837 — 12/5/2003 — 142 Mokauea Street Honolulu HI (E) 2,182 — 1,576 — 2,182 1,576 3,758 (593) 12/5/2003 1972 2139 Kaliawa Street Honolulu HI (E) 885 — — — 885 — 885 — 12/5/2003 — 2122 Kaliawa Street Honolulu HI (E) 1,365 — — — 1,365 — 1,365 — 12/5/2003 — 148 Mokauea Street Honolulu HI (E) 3,476 — — — 3,476 — 3,476 — 12/5/2003 — 151 Puuhale Road Honolulu HI (E) 1,956 — 48 — 1,956 48 2,004 (4) 12/5/2003 — 2127 Auiki Street Honolulu HI (E) 2,906 — 67 — 2,906 67 2,973 (42) 12/5/2003 — 2144 Auiki Street Honolulu HI (E) 2,640 — 7,594 — 2,640 7,594 10,234 (3,197) 12/5/2003 1953 179 Sand Island Access Road Honolulu HI (E) 2,480 — — — 2,480 — 2,480 — 12/5/2003 — 106 Puuhale Road Honolulu HI (E) 1,113 — 302 — 1,113 302 1,415 (128) 12/5/2003 1966 120 Mokauea Street Honolulu HI (E) 1,953 — 1,106 — 1,953 1,106 3,059 (273) 12/5/2003 1970 120B Mokauea Street Honolulu HI (E) 1,953 — 16 — 1,953 16 1,969 (1) 12/5/2003 1970 231 Sand Island Access Road Honolulu HI (E) 752 — — — 752 — 752 — 12/5/2003 — 231B Sand Island Access Road Honolulu HI (E) 1,539 — — — 1,539 — 1,539 — 12/5/2003 — 220 Puuhale Road Honolulu HI (E) 2,619 — — — 2,619 — 2,619 — 12/5/2003 — 150 Puuhale Road Honolulu HI (E) 4,887 — — — 4,887 — 4,887 — 12/5/2003 — 197 Sand Island Access Road Honolulu HI (E) 1,238 — — — 1,238 — 1,238 — 12/5/2003 — 2019 Kahai Street Honolulu HI (E) 1,377 — — — 1,377 — 1,377 — 12/5/2003 — 2344 Pahounui Drive Honolulu HI (E) 6,709 — — — 6,709 — 6,709 — 12/5/2003 — Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 238 Sand Island Access Road Honolulu HI (E) 2,273 — — — 2,273 — 2,273 — 12/5/2003 — 2308 Pahounui Drive Honolulu HI (E) 3,314 — — — 3,314 — 3,314 — 12/5/2003 — 2135 Auiki Street Honolulu HI (E) 825 — — — 825 — 825 — 12/5/2003 — 218 Mohonua Place Honolulu HI (E) 1,741 — — — 1,741 — 1,741 — 12/5/2003 — 180 Sand Island Access Road Honolulu HI (E) 1,655 — — — 1,655 — 1,655 — 12/5/2003 — 2250 Pahounui Drive Honolulu HI (E) 3,862 — — — 3,862 — 3,862 — 12/5/2003 — 158 Sand Island Access Road Honolulu HI (E) 2,488 — — — 2,488 — 2,488 — 12/5/2003 — 2264 Pahounui Drive Honolulu HI (E) 1,632 — — — 1,632 — 1,632 — 12/5/2003 — 2276 Pahounui Drive Honolulu HI (E) 1,619 — — — 1,619 — 1,619 — 12/5/2003 — 204 Sand Island Access Road Honolulu HI (E) 1,689 — — — 1,689 — 1,689 — 12/5/2003 — 228 Mohonua Place Honolulu HI (E) 1,865 — — — 1,865 — 1,865 — 12/5/2003 — 212 Mohonua Place Honolulu HI (E) 1,067 — — — 1,067 — 1,067 — 12/5/2003 — 214 Sand Island Access Road Honolulu HI (E) 1,864 — 593 — 1,864 593 2,457 (194) 12/5/2003 1981 2879 Paa Street Honolulu HI (E) 1,691 — 45 — 1,691 45 1,736 (17) 12/5/2003 — 2833 Paa Street Honolulu HI (E) 1,701 — — — 1,701 — 1,701 — 12/5/2003 — 1055 Ahua Street Honolulu HI (E) 1,216 — — — 1,216 — 1,216 — 12/5/2003 — 2875 Paa Street Honolulu HI (E) 1,330 — — — 1,330 — 1,330 — 12/5/2003 — 1000 Mapunapuna Street Honolulu HI (E) 2,252 — — — 2,252 — 2,252 — 12/5/2003 — 2850 Paa Street Honolulu HI (E) 22,827 — — — 22,827 — 22,827 — 12/5/2003 — 2828 Paa Street Honolulu HI (E) 12,448 — — — 12,448 — 12,448 — 12/5/2003 — 1045 Mapunapuna Street Honolulu HI (E) 819 — — — 819 — 819 — 12/5/2003 — 1122 Mapunapuna Street Honolulu HI (E) 5,781 — — — 5,781 — 5,781 — 12/5/2003 — 2810 Paa Street Honolulu HI (E) 3,340 — — — 3,340 — 3,340 — 12/5/2003 — 2886 Paa Street Honolulu HI (E) 2,205 — — — 2,205 — 2,205 — 12/5/2003 — 2810 Pukoloa Street Honolulu HI (E) 27,699 — — — 27,699 — 27,699 — 12/5/2003 — 1052 Ahua Street Honolulu HI (E) 1,703 — 240 — 1,703 240 1,943 (110) 12/5/2003 — 1024 Mapunapuna Street Honolulu HI (E) 1,385 — — — 1,385 — 1,385 — 12/5/2003 — 1030 Mapunapuna Street Honolulu HI (E) 5,655 — — — 5,655 — 5,655 — 12/5/2003 — 1001 Ahua Street Honolulu HI (E) 15,155 3,312 91 — 15,155 3,403 18,558 (1,694) 12/5/2003 — 944 Ahua Street Honolulu HI (E) 1,219 — — — 1,219 — 1,219 — 12/5/2003 — 918 Ahua Street Honolulu HI (E) 3,820 — — — 3,820 — 3,820 — 12/5/2003 — 2864 Mokumoa Street Honolulu HI (E) 2,092 — — — 2,092 — 2,092 — 12/5/2003 — 1050 Kikowaena Place Honolulu HI (E) 1,404 873 — — 1,404 873 2,277 (438) 12/5/2003 — 949 Mapunapuna Street Honolulu HI (E) 11,568 — — — 11,568 — 11,568 — 12/5/2003 — 2855 Pukoloa Street Honolulu HI (E) 1,934 — — — 1,934 — 1,934 — 12/5/2003 — 2865 Pukoloa Street Honolulu HI (E) 1,934 — — — 1,934 — 1,934 — 12/5/2003 — 2850 Mokumoa Street Honolulu HI (E) 2,143 — — — 2,143 — 2,143 — 12/5/2003 — 905 Ahua Street Honolulu HI (E) 1,148 — — — 1,148 — 1,148 — 12/5/2003 — 1150 Kikowaena Street Honolulu HI (E) 2,445 — — — 2,445 — 2,445 — 12/5/2003 — 960 Ahua Street Honolulu HI (E) 614 — — — 614 — 614 — 12/5/2003 — 1062 Kikowaena Place Honolulu HI (E) 1,049 598 183 — 1,049 781 1,830 (310) 12/5/2003 — Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 2829 Pukoloa Street Honolulu HI (E) 2,088 — — — 2,088 — 2,088 — 12/5/2003 — 2841 Pukoloa Street Honolulu HI (E) 2,088 — — — 2,088 — 2,088 — 12/5/2003 — 2819 Pukoloa Street Honolulu HI (E) 2,090 — 34 — 2,090 34 2,124 (13) 12/5/2003 — 950 Mapunapuna Street Honolulu HI (E) 1,724 — — — 1,724 — 1,724 — 12/5/2003 — 960 Mapunapuna Street Honolulu HI (E) 1,933 — — — 1,933 — 1,933 — 12/5/2003 — 930 Mapunapuna Street Honolulu HI (E) 3,654 — — — 3,654 — 3,654 — 12/5/2003 — 1038 Kikowaena Place Honolulu HI (E) 2,576 — — — 2,576 — 2,576 — 12/5/2003 — 1024 Kikowaena Place Honolulu HI (E) 1,818 — — — 1,818 — 1,818 — 12/5/2003 — 2970 Mokumoa Street Honolulu HI (E) 1,722 — — — 1,722 — 1,722 — 12/5/2003 — 970 Ahua Street Honolulu HI (E) 817 — — — 817 — 817 — 12/5/2003 — 2840 Mokumoa Street Honolulu HI (E) 2,149 — — — 2,149 — 2,149 — 12/5/2003 — 2830 Mokumoa Street Honolulu HI (E) 2,146 — — — 2,146 — 2,146 — 12/5/2003 — 1027 Kikowaena Place Honolulu HI (E) 5,444 — — — 5,444 — 5,444 — 12/5/2003 — 2960 Mokumoa Street Honolulu HI (E) 1,977 — — — 1,977 — 1,977 — 12/5/2003 — 80 Sand Island Access Road Honolulu HI (E) 7,972 — — — 7,972 — 7,972 — 12/5/2003 — 94-240 Pupuole Street Waipahu HI (E) 717 — — — 717 — 717 — 12/5/2003 — 525 N. King Street Honolulu HI (E) 1,342 — — — 1,342 — 1,342 — 12/5/2003 — 1360 Pali Highway Honolulu HI (E) 9,170 — 59 — 9,170 59 9,229 (51) 12/5/2003 — 1330 Pali Highway Honolulu HI (E) 1,423 — — — 1,423 — 1,423 — 12/5/2003 — 33 S. Vineyard Boulevard Honolulu HI (E) 844 — — — 844 — 844 — 12/5/2003 — 848 Ala Lilikoi Street Honolulu HI (E) 9,426 — — — 9,426 — 9,426 — 12/5/2003 — 846 Ala Lilikoi Street Honolulu HI (E) 234 — — — 234 — 234 — 12/5/2003 — 2635 Waiwai Loop A Honolulu HI (E) 934 350 683 — 934 1,033 1,967 (411) 12/5/2003 — 2635 Waiwai Loop B Honolulu HI (E) 1,177 105 682 — 1,177 787 1,964 (288) 12/5/2003 — 120 Sand Island Access Road Honolulu HI (E) 1,132 11,307 1,798 — 1,132 13,105 14,237 (5,957) 11/23/2004 2004 91-222 Olai Kapolei HI (A) 2,035 — 77 — 2,035 77 2,112 (7) 6/15/2005 — 91-265 Hanua Kapolei HI (A) 1,569 — — — 1,569 — 1,569 — 6/15/2005 — 91-255 Hanua Kapolei HI (A) 1,230 — 35 — 1,230 35 1,265 (11) 6/15/2005 — 91-241 Kalaeloa Kapolei HI (A) 426 3,983 883 — 426 4,866 5,292 (2,135) 6/15/2005 1990 91-141 Kalaeloa Kapolei HI (A) 11,624 — — — 11,624 — 11,624 — 6/15/2005 — 91-250 Komohana Kapolei HI (A) 1,506 — — — 1,506 — 1,506 — 6/15/2005 — 91-202 Kalaeloa Kapolei HI (A) 1,722 — 326 — 1,722 326 2,048 (86) 6/15/2005 1964 91-080 Hanua Kapolei HI (A) 2,187 — — — 2,187 — 2,187 — 6/15/2005 — 91-027 Kaomi Loop Kapolei HI (A) 2,667 — — — 2,667 — 2,667 — 6/15/2005 — 91-185 Kalaeloa Kapolei HI (A) 1,761 — 81 — 1,761 81 1,842 (6) 6/15/2005 — 91-329 Kauhi Kapolei HI (A) 294 2,297 2,825 — 294 5,122 5,416 (2,376) 6/15/2005 1980 91-399 Kauhi Kapolei HI (A) 27,405 — — — 27,405 — 27,405 — 6/15/2005 — 91-086 Kaomi Loop Kapolei HI N/A 13,884 — — — 13,884 — 13,884 — 6/15/2005 — 91-349 Kauhi Kapolei HI (A) 649 — — — 649 — 649 — 6/15/2005 — 91-400 Komohana Kapolei HI (A) 1,494 — — — 1,494 — 1,494 — 6/15/2005 — 91-174 Olai Kapolei HI (A) 962 — 47 — 962 47 1,009 (31) 6/15/2005 — Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 91-218 Olai Kapolei HI (A) 1,622 — 62 — 1,622 62 1,684 (38) 6/15/2005 — 91-175 Olai Kapolei HI (A) 1,243 — 87 — 1,243 87 1,330 (41) 6/15/2005 — 91-210 Olai Kapolei HI (A) 706 — — — 706 — 706 — 6/15/2005 — 91-087 Hanua Kapolei HI (A) 381 — — — 381 — 381 — 6/15/2005 — 91-083 Hanua Kapolei HI (A) 716 — — — 716 — 716 — 6/15/2005 — 91-091 Hanua Kapolei HI (A) 552 — — — 552 — 552 — 6/15/2005 — 91-220 Kalaeloa Kapolei HI (A) 242 1,457 292 — 242 1,749 1,991 (730) 6/15/2005 1991 91-252 Kauhi Kapolei HI (A) 536 — — — 536 — 536 — 6/15/2005 — 91-259 Olai Kapolei HI (A) 2,944 — — — 2,944 — 2,944 — 6/15/2005 — 91-238 Kauhi Kapolei HI (A) 1,390 — 9,495 — 1,390 9,495 10,885 (3,855) 6/15/2005 1981 91-416 Komohana Kapolei HI (A) 713 — 11 — 713 11 724 (7) 6/15/2005 — 91-410 Komohana Kapolei HI (A) 418 — 12 — 418 12 430 (7) 6/15/2005 — 91-300 Hanua Kapolei HI (A) 1,381 — 18 — 1,381 18 1,399 (3) 6/15/2005 1994 91-171 Olai Kapolei HI (A) 218 — 13 — 218 13 231 (10) 6/15/2005 — 91-210 Kauhi Kapolei HI (A) 567 — 679 — 567 679 1,246 (104) 6/15/2005 1990 91-110 Kaomi Loop Kapolei HI (A) 1,293 — — — 1,293 — 1,293 — 6/15/2005 — 91-102 Kaomi Loop Kapolei HI (A) 1,599 — — — 1,599 — 1,599 — 6/15/2005 — 91-064 Kaomi Loop Kapolei HI (A) 1,826 — — — 1,826 — 1,826 — 6/15/2005 — 91-119 Olai Kapolei HI (A) 1,981 — — — 1,981 — 1,981 — 6/15/2005 — 91-150 Kaomi Loop Kapolei HI (A) 3,159 — — — 3,159 — 3,159 — 6/15/2005 — Texaco Easement Kapolei HI N/A 2,657 — — — 2,657 — 2,657 — 6/15/2005 — Tesaro 967 Easement Kapolei HI N/A 6,593 — — — 6,593 — 6,593 — 6/15/2005 — AES HI Easement Kapolei HI N/A 1,250 — — — 1,250 — 1,250 — 6/15/2005 — Other Easements & Lots Kapolei HI N/A 358 — 1,437 — 358 1,437 1,795 (765) 6/15/2005 — 889 Ahua Street Honolulu HI (E) 5,888 315 — — 5,888 315 6,203 (87) 11/21/2012 — 951 Trails Road Eldridge IA (F) 470 7,480 2,301 — 471 9,780 10,251 (3,682) 4/2/2007 1994 2300 North 33rd Avenue East Newton IA (A) 500 13,236 58 — 500 13,294 13,794 (5,078) 9/29/2008 2008 3425 Maple Drive Fort Dodge IA (A) 100 2,000 — — 100 2,000 2,100 (270) 4/9/2019 2014 4401 112th Street Urbandale IA (C) 800 3,117 — — 800 3,117 3,917 (288) 2/25/2022 1985 7121 South Fifth Avenue Pocatello ID (A) 400 4,201 615 — 400 4,816 5,216 (1,035) 1/29/2015 2007 2580 Technology Drive Elgin IL (A) 1,500 9,068 16 (3,053) 1,067 6,464 7,531 (496) 2/25/2022 2001 5795 Logistics Parkway Rockford IL (A) 400 3,368 — (688) 327 2,753 3,080 (139) 2/25/2022 1998 1602 Vincent Drive Sauget IL (C) 1,400 27,028 444 — 1,400 27,472 28,872 (1,482) 2/25/2022 2014 6 Konzen Court Granite City IL (C) 900 20,268 375 — 900 20,643 21,543 (1,891) 2/25/2022 2001 1000 Knell Road Montgomery IL (C) 2,101 19,258 34 — 2,101 19,292 21,393 (1,426) 2/25/2022 2000 1430 South Wolf Road Wheeling IL (C) 4,702 19,641 — — 4,702 19,641 24,343 (1,038) 2/25/2022 2003 1270 North Wilkening Schaumburg IL (C) 2,801 7,733 23 — 2,801 7,756 10,557 (715) 2/25/2022 1996 4472 Technology Drive Rockford IL (C) 400 5,912 — — 400 5,912 6,312 (365) 2/25/2022 2011 7019 High Grove Boulevard Burr Ridge IL (C) 800 1,090 — — 800 1,090 1,890 (67) 2/25/2022 1997 1230 West 171st Street Harvey IL (A) 800 1,673 266 — 800 1,939 2,739 (378) 1/29/2015 2004 5156 American Road Rockford IL (A) 400 1,529 348 — 400 1,877 2,277 (469) 1/29/2015 1996 Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 9215-9347 E Pendleton Pike Lawrence IN (A) 3,763 34,877 — — 3,763 34,877 38,640 (4,864) 2/14/2019 2009 6825 West County Road 400 North Greenfield IN (F) 918 14,300 1,009 — 918 15,309 16,227 (2,234) 2/14/2019 2008 900 Commerce Parkway West Drive Greenwood IN (F) 1,483 16,253 701 — 1,483 16,954 18,437 (2,278) 2/14/2019 2007 2482 Century Drive Goshen IN (A) 840 9,061 — — 840 9,061 9,901 (1,224) 4/9/2019 2005 3201 Bearing Drive Franklin IN (F) 1,100 15,403 (1) — 1,100 15,402 16,502 (2,427) 4/9/2019 1973 482 Chaney Avenue Greenwood IN (C) 2,401 55,810 — — 2,401 55,810 58,211 (3,441) 2/25/2022 2014 1151 South Graham Road Greenwood IN (B) 7,002 108,700 145 — 7,002 108,845 115,847 (5,750) 2/25/2022 2019 5440 Haggerty Lane Lafayette IN (C) 3,601 31,058 18 — 3,601 31,076 34,677 (1,644) 2/25/2022 2019 8951 Mirabel Road Indianapolis IN (C) 3,001 36,978 — — 3,001 36,978 39,979 (1,955) 2/25/2022 2014 17001 West Mercury Street Gardner KS (F) 5,741 32,701 400 — 5,740 33,102 38,842 (2,505) 12/30/2020 2018 435 SE 70th Street Topeka KS (A) — 3,563 120 (594) — 3,089 3,089 (169) 2/25/2022 2006 22525 West 167th Street Olathe KS (C) 4,301 52,183 (1) — 4,301 52,182 56,483 (2,758) 2/25/2022 2016 2552 South 98th Street Edwardsville KS (C) 3,601 20,988 — — 3,601 20,988 24,589 (1,294) 2/25/2022 2013 2701 South 98th Street Edwardsville KS (C) 2,701 10,998 400 — 2,701 11,398 14,099 (824) 2/25/2022 2001 1985 International Way Hebron KY (A) 1,453 8,546 1,621 — 1,453 10,167 11,620 (1,725) 2/14/2019 1997 2311 South Park Road Louisville KY (A) 1,600 13,119 — — 1,600 13,119 14,719 (692) 2/25/2022 2016 1509 Leestown Road Frankfort KY (C) 4,801 38,708 — — 4,801 38,708 43,509 (2,388) 2/25/2022 2014 4555 West Highway 146 Buckner KY (C) 3,201 39,977 — — 3,201 39,977 43,178 (2,465) 2/25/2022 2013 450 Northpointe Court Covington LA (C) 1,300 26,883 — — 1,300 26,883 28,183 (1,421) 2/25/2022 2015 209 South Bud Street Lafayette LA (A) 700 4,549 42 — 701 4,590 5,291 (1,026) 1/29/2015 2010 17200 Manchac Park Lane Baton Rouge LA (A) 1,700 8,860 151 — 1,700 9,011 10,711 (1,975) 1/29/2015 2014 11900 Trolley Lane Beltsville MD (A) 8,203 23,095 179 (1,243) 7,877 22,357 30,234 (1,124) 2/25/2022 2000 4000 Principio Parkway North East MD (F) 4,200 71,518 847 — 4,200 72,365 76,565 (16,113) 1/29/2015 2012 3466 Shippers Drive Walker MI (C) 4,902 29,780 144 — 4,902 29,924 34,826 (1,580) 2/25/2022 2016 1601 Brown Road Orion MI (C) 4,701 57,812 721 — 4,701 58,533 63,234 (3,178) 2/25/2022 2006 38401 Amrhein Road Livonia MI (C) 1,400 14,778 — — 1,400 14,778 16,178 (911) 2/25/2022 1999 28000 Five M Center Drive Romulus MI (C) 300 8,530 182 — 300 8,712 9,012 (553) 2/25/2022 1997 3800 Midlink Drive Kalamazoo MI (A) 2,630 40,599 — — 2,630 40,599 43,229 (9,051) 1/29/2015 2014 10100 89th Avenue N Maple Grove MN (F) 3,469 21,284 868 — 3,469 22,152 25,621 (3,271) 10/16/2018 2015 2427 Henry Road NW Stewartville MN (C) 1,300 3,145 13 — 1,300 3,158 4,458 (195) 2/25/2022 2013 2401 Cram Avenue SE Bemidji MN (A) 100 2,137 — — 100 2,137 2,237 (476) 1/29/2015 2013 5501 Providence Hill Drive St. Joseph MO (A) 400 3,500 24 — 400 3,524 3,924 (487) 4/9/2019 2014 3502 Enterprise Avenue Joplin MO (A) 1,380 12,121 34 — 1,380 12,155 13,535 (1,636) 4/9/2019 2014 5703 Mitchell Avenue St. Joseph MO (C) 1,600 19,085 438 — 1,600 19,523 21,123 (1,823) 2/25/2022 2000 10551 N Congress Avenue Kansas City MO (C) 600 13,538 — — 600 13,538 14,138 (716) 2/25/2022 2014 831 Lone Star Drive O'Fallon MO (C) 1,200 7,304 — — 1,200 7,304 8,504 (541) 2/25/2022 1989 2901 E Heartland Drive Liberty MO (C) 1,100 6,886 — — 1,100 6,886 7,986 (511) 2/25/2022 1997 110 Stanbury Industrial Drive Brookfield MO (A) 200 1,859 — (546) 183 1,330 1,513 3 1/29/2015 2012 12385 Crossroad Drive Olive Branch MS (D) 3,301 61,763 — — 3,301 61,763 65,064 (3,810) 2/25/2022 2012 8644 Polk Lane Olive Branch MS (C) 900 20,171 318 — 901 20,488 21,389 (1,115) 2/25/2022 2011 440 US Highway 49 South Richland MS (C) 200 2,329 3 — 200 2,332 2,532 (216) 2/25/2022 1986 Initial Cost to Gross Amount Carried at Company Costs Close of Period (4) Buildings Capitalized Buildings Original and Subsequent to Impairment/ and Accumulated Date Construction Property Location State Encumbrances (1) Land Equipment Acquisition Writedowns (2) Land Equipment Total (2) Depreciation (3) Acquired Date 105 Business Park Drive Ridgeland MS (C) 500 1,949 8 — 500 1,957 2,457 (179) 2/25/2022 1988 590 Assembly Court Fayetteville NC (A) 700 9,410 1 (2,328) 540 7,243 7,783 (441) 2/25/2022 1996 4350 Fortune Ave NW Concord NC (C) 4,401 53,085 — — 4,401 53,085 57,486 (2,806) 2/25/2022 2017 4690 Global Avenue NW Concord NC (C) 4,601 45,793 — — 4,601 45,793 50,394 (2,420) 2/25/2022 2015 6538 & 6526 Judge Adams Road Whitsett NC (B) 2,501 46,343 — — 2,501 46,343 48,844 (2,450) 2/25/2022 2019 4040 Business Park Court Winston Salem NC (C) 800 8,411 260 — 800 8,671 9,471 (530) 2/25/2022 2001 3900 NE 6th Street Minot ND (A) 700 3,223 — — 700 3,223 3,923 (719) 1/29/2015 2013 7130 Q Street Omaha NE (A) 1,600 7,390 1 (2,138) 1,220 5,633 6,853 (343) 2/25/2022 1997 1415 West Commerce Way Lincoln NE (A) 2,200 8,518 388 — 2,200 8,906 11,106 (2,035) 1/29/2015 1971 52 Pettengill Road Londonderry NH (F) 5,871 43,335 7 — 5,871 43,342 49,213 (5,857) 4/9/2019 2015 1135 Easton Avenue Franklin Township NJ N/A 3,601 5,564 — — 3,601 5,564 9,165 (515) 2/25/2022 1969 584 US Highway 130 Trenton NJ (B) 70,422 62,639 — — 70,422 62,639 133,061 (3,311) 2/25/2022 2017 725 Darlington Avenue Mahwah NJ (F) 8,492 9,451 1,877 — 8,492 11,328 19,820 (2,903) 4/9/2014 1999 309 Dulty's Lane Burlington NJ (F) 1,600 51,400 — — 1,600 51,400 53,000 (11,458) 1/29/2015 2001 7000 West Post Road Las Vegas NV (F) 4,230 13,472 246 — 4,230 13,718 17,948 (2,212) 4/9/2019 2010 2375 East Newlands Road Fernley NV (A) 1,100 17,314 286 — 1,100 17,600 18,700 (3,970) 1/29/2015 2007 158 West Yard Road Feura Bush NY (A) 1,870 7,931 477 — 1,869 8,409 10,278 (1,882) 4/9/2019 1989 3779 Lake Shore Road Hamburg NY (C) 2,701 38,186 30 — 2,701 38,216 40,917 (2,021) 2/25/2022 2016 1289 Walden Avenue Cheektowaga NY (C) 600 6,314 390 — 600 6,704 7,304 (618) 2/25/2022 2001 4 Liebich Lane Halfmoon NY (C) 400 8,521 13 — 400 8,534 8,934 (450) 2/25/2022 2011 55 Commerce Avenue Albany NY (A) 1,000 10,105 492 — 1,000 10,597 11,597 (2,321) 1/29/2015 2013 32150 Just Imagine Drive Avon OH (A) 2,200 23,280 — — 2,200 23,280 25,480 (8,488) 5/29/2009 1996 1580, 1590 & 1600 Williams Road Columbus OH (A) 2,060 29,143 361 — 2,060 29,504 31,564 (4,593) 4/9/2019 1992 7303 Rickenbacker Parkway West Columbus OH (F) 1,491 27,407 3 — 1,494 27,407 28,901 (1,979) 6/21/2021 2020 3245 Henry Road and 3185 Columbia Road Richfield OH (A) 2,499 21,640 — — 2,499 21,640 24,139 (1,333) 2/25/2022 2005 8341 Industrial Parkway Plain City OH (B) 6,702 97,563 — — 6,702 97,563 104,265 (5,157) 2/25/2022 2020 201 Exploration Drive Monroe OH (D) 1,801 38,868 — — 1,801 38,868 40,669 (2,054) 2/25/2022 2014 9780 Mopar Drive Streetsboro OH (C) 2,701 26,021 736 — 2,701 26,757 29,458 (1,702) 2/25/2022 2011 2465 Fontaine Street Kenton OH (C) 1,000 19,323 — — 1,000 19,323 20,323 (1,021) 2/25/2022 2017 4651 Prosper Drive Stow OH (C) 1,400 30,772 — — 1,400 30,772 32,172 (1,627) 2/25/2022 2017 747 Mill Park Drive Lancaster OH (C) 1,400 17,609 — — 1,400 17,609 19,009 (931) 2/25/2022 2019 9667 Inter-Ocean Drive West Chester Twp. OH (C) 1,300 10,880 — — 1,300 10,880 12,180 (805) 2/25/2022 1999 5313 Majestic Parkway Bedford Heights OH (C) 1,100 8,107 138 — 1,100 8,245 9,345 (755) 2/25/2022 1998 1115 Regina Graeter Way Cincinnati OH (C) 700 7,908 — — 700 7,908

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net (loss) income attributable to common shareholders	$ (107,989)	$ (226,723)	$ 119,682

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation.
Consolidation	Consolidation. We consolidate entities in which we have a controlling financial interest. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider whether the entity is a variable interest entity, or VIE, in which we are the primary beneficiary or whether the entity is a voting interest entity in which we have a majority of the voting interests of the entity. We are deemed to be the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. We generally do not control an entity if the approval of all of the partners/members is contractually required with respect to decisions that most significantly impact the performance of the entity. This includes decisions regarding operating and capital budgets and the placement of new or additional financing secured by the assets of the venture, among others.
Use of Estimates	Use of Estimates. Preparation of these financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires us to make estimates and assumptions that may affect the amounts reported in these consolidated financial statements and related notes.
Real Estate Properties	Real Estate Properties. We record properties at cost. Our real estate investments in lands are not depreciated. We calculate depreciation on other real estate investments on a straight line basis over estimated useful lives generally ranging from seven We allocate a portion of the purchase price to above market and below market leases based on the present value (using a discount rate which reflects the risks associated with acquired in-place leases at the time each property was acquired by us) of the difference, if any, between (i) the contractual amounts to be paid pursuant to the acquired in-place leases and (ii) our estimates of fair market lease rates for the corresponding leases, measured over a period equal to the terms of the respective leases. The terms of below market leases that include bargain renewal options, if any, are further adjusted if we determine renewal to be probable. We allocate a portion of the purchase price to acquired in-place leases and tenant relationships based upon market estimates of the costs to lease up the property. In determining these allocations, we estimate costs during the expected lease up periods, including carrying costs such as real estate taxes, insurance and other operating income and expenses and costs, and costs including leasing commissions, legal and other related expenses and costs to execute similar leases in current market conditions at the time a property was acquired by us. We allocate this aggregate value, which we refer to as lease origination value, between acquired in-place lease values and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease. However, we have not separated the value of tenant relationships from the value of acquired in-place leases because such value and related amortization expense is immaterial to our consolidated financial statements. If the value of tenant relationships becomes material in the future, we may separately allocate those amounts and amortize the allocated amount over the estimated life of the relationships. Certain of our industrial lands in Hawaii may require environmental remediation, especially if the use of those lands is changed; however, we do not have any present plans to change the use of those lands or to undertake this environmental cleanup. As of December 31, 2023 and 2022, accrued environmental remediation costs of $6,775 and $6,940, respectively, were included in accounts payable and other liabilities in our consolidated balance sheets. These accrued environmental remediation costs relate to maintenance of our properties for current uses, and, because of the indeterminable timing of the remediation, these amounts have not been discounted to present value. In general, we do not have any insurance designated to limit any losses that we may incur as a result of known or unknown environmental conditions which are not caused by an insured event, such as, for example, fire or flood, although some of our tenants may maintain such insurance that may benefit us. Although we do not believe that there are environmental conditions at any of our properties that will have a material adverse effect on us, we cannot be sure that such conditions are not present at our properties or that costs we incur to remediate contamination will not have a material adverse effect on our business or financial condition. Charges for environmental remediation costs, if any, are included in other operating expenses in our consolidated statements of comprehensive income (loss).
Deferred Leasing Costs	Deferred Leasing Costs.
Debt Issuance Costs	Debt Issuance Costs.
Impairments	Impairments. We regularly evaluate whether events or changes in circumstances have occurred that could indicate an impairment in the value of long lived assets. Impairment indicators may include declining tenant occupancy, lack of progress leasing vacant space, tenant bankruptcies, low long-term prospects for improvement in property performance, weak or declining tenant profitability, cash flow or liquidity, our decision to dispose of an asset before the end of its estimated useful life and legislative, market or industry changes that could permanently reduce the value of a property. If there is an indication that the carrying value of an asset is not recoverable, we estimate the projected undiscounted cash flows to determine if an impairment loss should be recognized. The future net undiscounted cash flows are subjective and are based in part on assumptions regarding hold periods, market rents and terminal capitalization rates. If the carrying value exceeds the projected undiscounted cash flows, we determine the amount of any impairment loss by comparing the historical carrying value to the estimated fair value. We estimate fair value through an evaluation of recent financial performance and projected discounted cash flows using standard industry valuation techniques. In addition to consideration of impairment upon the events or changes in circumstances described above, we regularly evaluate the remaining useful lives of our long lived assets. If we change our estimate of the remaining useful lives, we allocate the carrying value of the affected assets over their revised remaining useful lives.
Capitalization Policy	Capitalization Policy. Costs directly related to the development of properties are capitalized. We capitalize development costs, including interest, real estate taxes, insurance and other project costs, incurred during the period of development. Determinations of when a development project commences and capitalization begins, and when a development project is substantially complete and held available for occupancy and capitalization must cease, involve judgments. We begin the capitalization of costs during the pre-construction period, which we consider to begin when activities that are necessary to the development of the property commence. We consider a development project as substantially complete and held available for occupancy upon the completion of tenant improvements, but no later than one year from cessation of major construction activity.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents. We consider highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Restricted Cash.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities. We account for our derivative instruments at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. The change in fair value of the effective portion of the derivative instrument that is not designated as a hedge or that does not meet the hedge accounting criteria is recorded as a gain or loss to operations.
Equity Method Investments	Equity Method Investments. We account for investments under the equity method when the requirements for consolidation are not met, and we have significant influence over the operations of the investee. We own a 22% equity interest in the unconsolidated joint venture, which owns 18 properties. We do not control the activities that are most significant to this joint venture and, as a result, we account for our investment in this joint venture under the equity method of accounting under the fair value option.
Revenue Recognition	Revenue Recognition. We are a lessor of industrial and logistics properties. Our leases provide our tenants with the contractual right to use and economically benefit from all the physical space specified in their respective leases and are generally classified as operating leases. Our leases provide for base rent payments and may also include variable payments. Rental income from operating leases, including any payments derived by index or market based indices, is recognized on a straight line basis over the lease term when we have determined that the collectability of substantially all the lease payments is probable. Some of our leases have options to extend or terminate the lease exercisable at the option of our tenants, which are considered when determining the lease term. Certain of our leases contain non-lease components, such as property level operating expenses and capital expenditures reimbursed by our tenants as well as other required lease payments. We have determined that all our leases qualify for the practical expedient to not separate the lease and non-lease components under the Accounting Standards Codification, or ASC, 842, because the lease components are operating leases and the timing and pattern of recognition of the non-lease components are the same as those of the lease components. Income derived from our leases is recorded in rental income in our consolidated statements of comprehensive income (loss). Certain tenants under their leases are required to directly pay their obligations for insurance, real estate taxes and certain other expenses to the vendor and/or the municipality. These obligations, which have been assumed by the tenants under the terms of their respective leases, are not reflected in our consolidated financial statements. To the extent any tenant responsible for any such obligations under the applicable lease defaults on such lease or if it is deemed probable that the tenant will fail to pay for such obligations, we would record a liability for such obligations.
Income Taxes	Income Taxes. We have elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, and, accordingly, we generally are not, and will not be, subject to federal income taxes provided we distribute our taxable income and meet certain organization and operating requirements to qualify for taxation as a REIT. We are, however, subject to certain state and local taxes.
Right of Use Assets and Lease Liabilities	Right of Use Assets and Lease Liabilities. We are the lessee for three of our properties subject to ground leases and one office lease that we assumed as part of our acquisition of MNR. For leases with a term greater than 12 months under which we are the lessee, we are required to record a right of use asset and lease liability. The values of our right of use assets and related lease liabilities were $4,646 and $4,730, respectively, as of December 31, 2023, and $5,084 and $5,149, respectively, as of December 31, 2022. Our right of use assets and related lease liabilities are included in other assets, net accounts payable and other liabilities Generally, payments of ground lease obligations are made by our tenants. However, if a tenant does not perform obligations under a ground lease or does not renew any ground lease, we may have to perform obligations under, or renew, the ground lease in order to protect our investment in the affected property.
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share. We calculate basic earnings per common share by dividing net income (loss) by the weighted average number of common shares outstanding during the period. We calculate diluted net income (loss) per share using the more dilutive of the two class method or the treasury stock method. Unvested share awards and other potentially dilutive common shares and the related impact on earnings are considered when calculating diluted earnings per share.
Noncontrolling Interests	Noncontrolling Interests.
Segment Reporting	Segment Reporting.
New Accounting Pronouncements	New Accounting Pronouncements. In November 2023, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities, including those with a single reportable segment, to: (i) provide disclosures of significant segment expenses and other segment items if they are regularly provided to the chief operating decision maker, or the CODM, and included in each reported measure of segment profit or loss; (ii) provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by ASC 280, Segment Reporting in interim periods; and (iii) disclose the CODM’s title and position, as well as an explanation of how the CODM uses the reported measures and other disclosures. ASU 2023-07 does not change how a public entity identifies its operating segments, aggregates those operating segments or applies the quantitative thresholds to determine its reportable segments. ASU 2023-07 is required to be applied retrospectively and is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact ASU 2023-07 will have on our consolidated financial statements. In August 2023, the FASB issued ASU 2023-05, Business Combinations – Joint Venture Formations (Subtopic 805-60) : Recognition and Initial Measurement. ASU 2023-05 applies to the formation of a joint venture and requires a joint venture to initially measure all contributions received upon its formation at fair value. This guidance is effective for all joint ventures with a formation date on or after January 1, 2025, with early adoption permitted. Joint ventures formed before the effective date have the option to apply it retrospectively, while those formed after the effective date are required to apply it prospectively. We adopted ASU 2023-05 on October 1, 2023 and will apply the guidance prospectively. We do not expect the adoption to have an impact on our consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Acquired Real Estate Leases and Assumed Real Estate Lease Obligations	As of December 31, 2023 and 2022, our acquired real estate leases and assumed real estate lease obligations were as follows: December 31, 2023 2022 Acquired real estate leases: Capitalized above market lease values $ 27,484 $ 31,313 Less: accumulated amortization (14,628) (15,598) Capitalized above market lease values, net 12,856 15,715 Lease origination value 355,718 384,496 Less: accumulated amortization (125,053) (102,766) Lease origination value, net 230,665 281,730 Acquired real estate leases, net $ 243,521 $ 297,445 Assumed real estate lease obligations: Capitalized below market lease values $ 37,580 $ 42,600 Less: accumulated amortization (19,046) (20,077) Assumed real estate lease obligations, net $ 18,534 $ 22,523
Schedule of Expected Future Amortization Related to Acquired Real Estate Leases and Assumed Real Estate Obligations, Deferred Leasing Costs and Debt Issuance Costs	Expected future amortization related to our acquired real estate leases and assumed real estate obligations, deferred leasing costs and debt issuance costs as of December 31, 2023 are shown below: Acquired Real Estate Leases and Assumed Deferred Leasing Debt Issuance Real State Obligations Costs Costs 2024 $ 43,158 $ 2,811 $ 12,823 2025 35,521 2,724 1,262 2026 30,272 2,548 1,262 2027 26,104 2,304 1,262 2028 20,194 1,965 1,262 Thereafter 69,738 8,295 2,132 $ 224,987 $ 20,647 $ 20,003

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Schedule of Purchase Price Allocation	The following table summarizes the purchase price allocation for the Merger: Land $ 430,818 Buildings 3,035,309 Acquired real estate leases (1) 294,576 Cash 8,814 Other assets, net 14,194 Securities available for sale (2) 146,550 Total assets 3,930,261 Mortgage notes payable, at fair value (323,432) Accounts payable and other liabilities (25,327) Assumed real estate lease obligations (17,829) Equity attributable to noncontrolling interest in the joint venture (3,827) Net assets acquired 3,559,846 Assumed working capital (144,230) Assumed mortgage notes payable, principal 323,432 Purchase price $ 3,739,048 (1) As of the date of acquisition, the weighted average amortization periods for the above market lease values, lease origination value and capitalized below market lease values were 11.1 years, 8.5 years and 7.8 years, respectively. (2) We allocated the purchase price for this acquisition based on the estimated fair value of the acquired assets as follows: Acquired Number of Rentable Buildings and Real Estate Date Location Properties Square Feet Purchase Price Land Improvements Leases July 2022 Augusta, GA 1 225,997 $ 38,053 $ 3,818 $ 30,780 $ 3,455 Acquired Number Rentable Buildings Acquired Real Estate of Square Purchase and Real Estate Lease Date Market Area Properties Feet Price Land Improvements Leases Obligations May 2021 Dallas, TX 1 — $ 2,319 $ 2,319 $ — $ — $ — June 2021 Columbus, OH 1 357,504 31,762 1,491 27,407 2,864 — August 2021 Memphis, TN 3 1,287,004 100,649 5,922 87,600 7,192 (65) 5 1,644,508 $ 134,730 $ 9,732 $ 115,007 $ 10,056 $ (65)
Schedule of Property Dispositions	Number of Gross Gain (Loss) on Sale of Date Location Properties Square Feet Sales Price (1) Real Estate March 2023 Everett, WA N/A 246,114 $ 270 $ (974) December 2023 Mesquite, TX 1 211,112 20,890 118 December 2023 Asheville, NC 1 32,599 4,300 2,566 2 489,825 $ 25,460 $ 1,710 (1)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Future Contractual Lease Payments Due from our Tenants	The following table summarizes the future contractual lease payments due from our tenants as of December 31, 2023: Amount 2024 $ 344,967 2025 327,988 2026 308,240 2027 284,553 2028 240,654 Thereafter 1,555,987 $ 3,062,389

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Indebtedness	Our outstanding indebtedness as of December 31, 2023 and 2022 is summarized below: Number of Properties Principal Interest Carrying Value Entity Secured By Balance Rate (1) Type Maturity of Collateral As of December 31,2023 ILPT 104 $ 1,235,000 6.18% Floating 10/09/2024 $ 1,044,028 ILPT 186 650,000 4.31% Fixed 02/07/2029 490,149 ILPT 17 700,000 4.42% Fixed 03/09/2032 505,153 Mountain JV 82 1,400,000 6.17% Floating 03/09/2024 1,857,062 Mountain JV 4 91,000 6.25% Fixed 06/10/2030 183,264 Mountain JV 1 11,380 3.67% Fixed 05/01/2031 28,932 Mountain JV 1 12,916 4.14% Fixed 07/01/2032 43,510 Mountain JV 1 28,622 4.02% Fixed 10/01/2033 84,793 Mountain JV 1 40,019 4.13% Fixed 11/01/2033 129,749 Mountain JV 1 24,433 3.10% Fixed 06/01/2035 46,394 Mountain JV 1 39,411 2.95% Fixed 01/01/2036 99,108 Mountain JV 1 43,850 4.27% Fixed 11/01/2037 110,097 Mountain JV 1 49,313 3.25% Fixed 01/01/2038 113,477 Total/weighted average 4,325,944 5.47% $ 4,735,716 Unamortized debt issuance costs (20,003) Total indebtedness, net $ 4,305,941 As of December 31, 2022 ILPT 104 $ 1,235,000 6.18% Floating 10/09/2024 $ 1,071,815 ILPT 186 650,000 4.31% Fixed 02/07/2029 490,416 ILPT 17 700,000 4.42% Fixed 03/09/2032 518,806 Mountain JV 82 1,400,000 6.17% Floating 03/09/2024 1,909,185 Mountain JV 1 13,556 3.76% Fixed 10/01/2028 63,314 Mountain JV 1 4,865 3.77% Fixed 04/01/2030 39,724 Mountain JV 1 5,145 3.85% Fixed 04/01/2030 39,724 Mountain JV 1 14,392 3.56% Fixed 09/01/2030 50,825 Mountain JV 1 12,691 3.67% Fixed 05/01/2031 30,800 Mountain JV 1 14,144 4.14% Fixed 07/01/2032 44,777 Mountain JV 1 30,949 4.02% Fixed 10/01/2033 87,143 Mountain JV 1 43,219 4.13% Fixed 11/01/2033 131,539 Mountain JV 1 26,175 3.10% Fixed 06/01/2035 47,718 Mountain JV 1 42,087 2.95% Fixed 01/01/2036 101,896 Mountain JV 1 46,109 4.27% Fixed 11/01/2037 113,063 Mountain JV 1 52,031 3.25% Fixed 01/01/2038 116,607 Total/weighted average 4,290,363 5.43% $ 4,857,352 Unamortized debt issuance costs (45,862) Total indebtedness, net $ 4,244,501 (1) Interest rates reflect the impact of interest rate caps, if any, and exclude the impact of the amortization of debt issuance costs, premiums and discounts.
Schedule of the Principal Payments Due Under the Outstanding Debt	The required principal payments due during the next five years and thereafter under all our outstanding debt as of December 31, 2023 are as follows: Principal Payment 2024 $ 2,653,114 2025 18,794 2026 19,495 2027 20,229 2028 20,989 Thereafter 1,593,323 $ 4,325,944

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements, Recurring and Nonrecurring	The table below presents certain of our assets measured on a recurring and non-recurring basis at fair value at December 31, 2023 and 2022, categorized by the level of inputs as defined in the fair value hierarchy under GAAP, used in the valuation of each asset: Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) At December 31, 2023 Recurring: Investment in unconsolidated joint venture $ 115,360 $ — $ — $ 115,360 Interest rate caps (1) $ 30,576 $ — $ 30,576 $ — Non-recurring: Real estate properties (2) $ 1,414 $ — $ — $ 1,414 At December 31, 2022 Recurring: Investment in unconsolidated joint venture $ 124,358 $ — $ — $ 124,358 Interest rate caps (1) $ 73,133 $ — $ 73,133 $ — Non-recurring: Real estate properties (2) $ 555,123 $ — $ — $ 555,123 (1) The fair values of our interest rate caps are based on market prices in secondary markets for similar derivative contracts. (2) During the years ended December 31, 2023 and December 31, 2022, we reduced the carrying value of one property and 25 properties, respectively, to their fair values based on third party offers. See Note 2 for more information.
Schedule of Quantitative Information of Significant Unobservable Inputs Related to Certain Level 3 Fair Value Measurements	The discount rates, exit capitalization rates and holding periods used are Level 3 significant unobservable inputs and are shown in the table below: Exit Capitalization Valuation Technique Discount Rates Rates Holding Periods At December 31, 2023 Investment in unconsolidated joint venture Discounted cash flow 5.75% - 8.00% 5.25% - 6.50% 9 - 12 years At December 31, 2022 Investment in unconsolidated joint venture Discounted cash flow 5.25% - 7.00% 4.75% - 6.00% 10 years
Schedule of the Change in Fair Value of the Investment in the Unconsolidated Joint Venture	The table below presents a summary of the changes in fair value for our investment in the unconsolidated joint venture: Year Ended December 31, 2023 2022 Beginning balance $ 124,358 $ 143,022 Equity in earnings of unconsolidated joint venture 902 7,078 Distributions from unconsolidated joint venture (9,900) (25,742) Ending balance $ 115,360 $ 124,358

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Shares Granted and Vested	A summary of shares awarded, vested and forfeited under the terms of the 2018 Plan for the years ended December 31, 2023, 2022 and 2021 is as follows: Year Ended December 31, 2023 2022 2021 Weighted Weighted Weighted Average Average Average Number Grant Date Number Grant Date Number Grant Date of Shares Fair Value of Shares Fair Value of Shares Fair Value Unvested at beginning of year 260,800 $ 15.07 192,380 $ 24.15 162,200 $ 22.37 Granted 328,350 2.84 197,800 7.85 139,800 25.93 Vested (296,890) 8.02 (127,480) 17.44 (108,920) 23.78 Forfeited (3,950) 11.40 (1,900) 24.55 (700) 22.24 Unvested at end of year 288,310 $ 8.50 260,800 $ 15.07 192,380 $ 24.15
Summary of Distributions Paid on Common Shares	During the years ended December 31, 2023, 2022 and 2021, we paid distributions on our common shares as follows: Annual Per Characterization of Distribution Share Total Return of Ordinary Capital Year Distribution Distribution Capital Income Gain 2023 $ 0.04 $ 2,627 100.0 % — % — % 2022 $ 0.68 $ 44,477 89.7 % 9.6 % 0.7 % 2021 $ 1.32 $ 86,236 — % 93.2 % 6.8 %

Per Common Shares Amounts (Tabl

Per Common Shares Amounts (Tables)	12 Months Ended
	Dec. 31, 2023
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Schedule of Weighted Average Common Shares, Basic and Diluted	The calculation of basic and diluted earnings per share is as follows: Year Ended December 31, 2023 2022 2021 Numerators: Net (loss) income attributable to common shareholders $ (107,989) $ (226,723) $ 119,682 Income attributable to participating unvested share awards (10) (131) (307) Net (loss) income attributable to common shareholders used in calculating earnings per share $ (107,999) $ (226,854) $ 119,375 Denominators: Weighted average common shares for basic earnings per share 65,430 65,248 65,169 Effect of unvested share awards — — 42 Weighted average common shares for diluted earnings per share 65,430 65,248 65,211 Net (loss) income attributable to common shareholders per common share (basic and diluted) $ (1.65) $ (3.47) $ 1.83

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swap Derivatives	The following table summarizes the terms of our outstanding interest rate cap agreements designated as cash flow hedges of interest rate risk at December 31, 2023 and 2022: Balance Sheet Underlying Strike Notional Fair Value at December 31, Derivative Line Item Instrument Rate Amount 2023 2022 Interest rate cap Other assets Floating Rate Loan 3.40% $ 1,400,000 $ 5,516 $ 23,337 Interest rate cap Other assets ILPT Floating Rate Loan 2.25% $ 1,235,000 25,060 49,796 $ 30,576 $ 73,133
Schedule of Effects on Consolidated Statements of Income and Comprehensive Income	The following table summarizes the activity related to our cash flow hedges within cumulative other comprehensive income for the periods shown: Year Ended December 31, 2023 2022 Amount of gain recognized in cumulative other comprehensive income $ 15,640 $ 34,825 Amount reclassified from cumulative other comprehensive income into interest expense (33,639) 2,330 Amount reclassified from cumulative other comprehensive income to loss on early extinguishment of debt — (6,961) Unrealized (loss) gain on derivative instrument recognized in cumulative other comprehensive loss $ (17,999) $ 30,194

Organization (Details)

Organization (Details) ft² in Thousands	Dec. 31, 2023 ft² building state property
Subsidiary, Sale of Stock [Line Items]
Number of properties owned | property	411
Rentable square feet (in sqft)	59,951
12 Mainland Properties
Subsidiary, Sale of Stock [Line Items]
Rentable square feet (in sqft)	11,726
Number of states where real estate is located | state	12
Ownership interest	22%
Hawaii
Subsidiary, Sale of Stock [Line Items]
Rentable square feet (in sqft)	16,729
Number of states where real estate is located | property	39
Number of buildings, leasable lands and easements owned | building	226
Mainland Properties
Subsidiary, Sale of Stock [Line Items]
Number of properties owned | property	185
Rentable square feet (in sqft)	43,222
Number of states where real estate is located | state	38

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Basis of Presentation (Details) - property		1 Months Ended	12 Months Ended
	Feb. 25, 2022	Jul. 31, 2022	Dec. 31, 2023
Consolidated Entity, Excluding Consolidated VIE | Mountain Industrial REIT LLC
Variable Interest Entity [Line Items]
Ownership interest	61%		61%
Monmouth Real Estate Investment Corporation
Variable Interest Entity [Line Items]
Number of properties	95	1	94
Number of properties acquired but aren't yet completed	2	2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Real Estate Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	7 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	40 years
Amortization of the value of acquired in place leases	$ 51,065	$ 53,113	$ 17,437
Increases in rental income	$ 1,130	$ 4,544	$ 781
Weighted Average
Property, Plant and Equipment [Line Items]
Amortization period of capitalized below market lease values (in years)	6 years 8 months 12 days
Weighted Average | Above market lease
Property, Plant and Equipment [Line Items]
Amortization periods for capitalized above market lease and lease origination values (in years)	9 years 8 months 12 days
Weighted Average | Acquired Real Estate Leases
Property, Plant and Equipment [Line Items]
Amortization periods for capitalized above market lease and lease origination values (in years)	7 years 7 months 6 days

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Acquired Real Estate Leases and Assumed Real Estate Lease Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Acquired real estate leases:
Acquired real estate leases, net	$ 243,521	$ 297,445
Assumed real estate lease obligations:
Capitalized below market lease values	37,580	42,600
Less: accumulated amortization	(19,046)	(20,077)
Assumed real estate lease obligations, net	18,534	22,523
Above market lease
Acquired real estate leases:
Acquired real estate leases, gross	27,484	31,313
Less: accumulated amortization	(14,628)	(15,598)
Acquired real estate leases, net	12,856	15,715
Acquired Real Estate Leases
Acquired real estate leases:
Acquired real estate leases, gross	355,718	384,496
Less: accumulated amortization	(125,053)	(102,766)
Acquired real estate leases, net	$ 230,665	$ 281,730

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Deferred Leasing Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Deferred leasing costs	$ 26,803	$ 22,371
Accumulated amortization of deferred leasing costs	$ 6,156	$ 4,366

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Debt Issuance Costs and Other Narrative Items (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property segment	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($)	Feb. 25, 2022
Debt Instrument [Line Items]
Debt issuance costs, line of credit			$ 6,711
Debt issuance costs, accumulated amortization			5,907
Loss on impairment of real estate	$ 156	$ 100,747	$ 0
Accrued environmental remediation cost	$ 6,775	$ 6,940
Number of business segments | segment	1
Monmouth Real Estate Investment Corporation
Debt Instrument [Line Items]
Number of properties | property		25
Ownership interest				61%
Mountain Industrial REIT LLC | Consolidated Entity, Excluding Consolidated VIE
Debt Instrument [Line Items]
Ownership interest	61%			61%
The Industrial Fund REIT LLC | Partnership Interest
Debt Instrument [Line Items]
Ownership interest	22%
12 Mainland Properties
Debt Instrument [Line Items]
Ownership interest	22%
Number of properties contributed | property	18
Loans Payable | Mortgage Loan 2019
Debt Instrument [Line Items]
Debt issuance cost, mortgage loan	$ 20,003	$ 45,862

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of Expected Future Amortization Related to Acquired Real Estate Leases and Assumed Real Estate Obligations, Deferred Leasing Costs and Debt Issuance Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Acquired real estate leases, net	$ 243,521	$ 297,445
Deferred Leasing Costs
2024	2,811
2025	2,724
2026	2,548
2027	2,304
2028	1,965
Thereafter	8,295
Deferred leasing costs	20,647
Debt Issuance Costs
2024	12,823
2025	1,262
2026	1,262
2027	1,262
2028	1,262
Thereafter	2,132
Debt issuance costs	20,003
Acquired Real Estate Leases and Assumed Real Estate Obligations
Finite-Lived Intangible Assets [Line Items]
2024	43,158
2025	35,521
2026	30,272
2027	26,104
2028	20,194
Thereafter	69,738
Acquired real estate leases, net	$ 224,987

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Right of Use Asset and Lease Liability (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Properties subject to ground leases | property	3
Lessee, number of properties under an operating lease | property	1
Right of use asset | $	$ 4,646	$ 5,084
Lease liability | $	$ 4,730	$ 5,149
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net	Other assets, net
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities

Real Estate Investments - Acqui

Real Estate Investments - Acquisitions Narrative (Details)								1 Months Ended	12 Months Ended
	Feb. 25, 2022 USD ($) ft² property $ / shares	Feb. 25, 2022 USD ($) ft² property $ / shares	Feb. 25, 2022 USD ($) ft² property $ / shares	Feb. 25, 2022 USD ($) ft² property $ / shares	Feb. 25, 2022 USD ($) ft² property state $ / shares	Feb. 25, 2022 USD ($) ft² property option $ / shares	Feb. 25, 2022 USD ($) ft² property extension_option $ / shares	Jul. 31, 2022 USD ($) ft² property	Dec. 31, 2023 USD ($) ft² property $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) ft² parcel property	Sep. 22, 2022 USD ($)
Real Estate Properties
Capital expenditures incurred									$ 23,263,000	$ 30,331,000
Commitments related to tenant improvements and leasing costs									$ 10,923,000
Tenant improvements (in sqft) | ft²									4,982,000
Committed but unspent tenant related obligations expected to be spent in the next 12 months									$ 5,947,000
Rentable square feet (in sqft) | ft²									59,951,000
Common stock, par value per share (in usd per share) | $ / shares									$ 0.01	$ 0.01
Number of states where acquired properties are located | state					27
Debt outstanding									$ 4,305,941,000	$ 4,244,501,000		$ 1,235,000,000
Acquisition and other transaction related costs									$ 287,000	$ 586,000	$ 1,132,000
Mountain Industrial REIT LLC
Real Estate Properties
Noncontrolling interest, ownership percentage by noncontrolling owners	39%	39%	39%	39%	39%	39%	39%
2021 Acquisitions
Real Estate Properties
Tenant improvements (in sqft) | ft²											1,644,508,000
Rentable square feet (in sqft) | ft²											1,644,508
Number of properties | property											5
Purchase price											$ 134,730,000
Real estate, acquisition costs											$ 1,030,000
2021 Acquisitions | Office and Industrial Properties
Real Estate Properties
Number of properties | property											4
2021 Acquisitions | Land
Real Estate Properties
Number of properties | parcel											1
Floating Rate Loan
Real Estate Properties
Number of properties used as collateral | property				82
Debt outstanding	$ 1,400,000,000	$ 1,400,000,000	$ 1,400,000,000	$ 1,400,000,000	$ 1,400,000,000	$ 1,400,000,000	$ 1,400,000,000
Number of options to extend maturity date						3	3
Extension period	1 year
Bridge Loan Facility
Real Estate Properties
Number of properties used as collateral | property				109
Debt outstanding	$ 1,385,158,000	1,385,158,000	1,385,158,000	$ 1,385,158,000	1,385,158,000	$ 1,385,158,000	$ 1,385,158,000					$ 1,235,000,000
Interest rate during period (as a percent)									2.92%
Fixed Rate Loan
Real Estate Properties
Number of properties used as collateral | property				17
Debt outstanding	700,000,000	700,000,000	700,000,000	$ 700,000,000	700,000,000	700,000,000	700,000,000
Interest rate during period (as a percent)									4.42%
Revolving Credit Facility
Real Estate Properties
Interest rate during period (as a percent)											1.44%
Maximum borrowing capacity of revolving credit facility	750,000,000	750,000,000	750,000,000	750,000,000	750,000,000	750,000,000	750,000,000				$ 750,000,000
MNR Properties
Real Estate Properties
Noncontrolling interest in joint ventures	$ 589,411,000	589,411,000	$ 589,411,000	$ 589,411,000	$ 589,411,000	$ 589,411,000	$ 589,411,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Floating Rate Loan
Real Estate Properties
Basis spread on variable rate (as a percent)			2.25%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Bridge Loan Facility
Real Estate Properties
Basis spread on variable rate (as a percent)			1.75%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Fixed Rate Loan, 5.62 % Due 2024 | Floating Rate Loan
Real Estate Properties
Basis spread on variable rate (as a percent)			2.77%
Joint Venture
Real Estate Properties
Assumed mortgage notes payable, principal		$ 3,739,048,000
Consolidated Entity, Excluding Consolidated VIE | MNR Properties
Real Estate Properties
Ownership interest	61%	61%	61%	61%	61%	61%	61%
Monmouth Real Estate (MNR)
Real Estate Properties
Repayments of debt		$ 885,269,000
Number of properties acquired but aren't yet completed | property	2	2	2	2	2	2	2
Purchase price of properties acquired but not yet completed		$ 78,843,000
Number of properties | property				95
Monmouth Real Estate (MNR) | Common shares
Real Estate Properties
Right to receive cash (in dollars per share) | $ / shares	$ 21	$ 21	$ 21	$ 21	$ 21	$ 21	$ 21
Monmouth Real Estate (MNR) | Series C Cumulative Redeemable Preferred Stock, 6.125%
Real Estate Properties
Preferred stock dividend rate			6.125%
Preferred stock par value per share (in dollars per share) | $ / shares	0.01	0.01	$ 0.01	0.01	0.01	0.01	0.01
Right to receive cash plus accumulated and unpaid dividends (in dollars per share) | $ / shares	$ 25	$ 25	$ 25	$ 25	$ 25	$ 25	$ 25
Monmouth Real Estate (MNR) | Joint Venture
Real Estate Properties
Assumed mortgage notes payable, principal		$ 323,432,000
Number of properties used as collateral | property				11
Monmouth Real Estate Investment Corporation
Real Estate Properties
Assumed mortgage notes payable, principal		$ 323,432,000
Number of properties acquired but aren't yet completed | property	2	2	2	2	2	2	2	2
Number of properties | property				95				1	94
Purchase price		$ 3,739,048,000
Monmouth Real Estate Investment Corporation | Augusta, Georgia
Real Estate Properties
Rentable square feet (in sqft) | ft²								225,997
Number of properties | property								1
Purchase price								$ 38,053,000
Monmouth Real Estate Investment Corporation | Consolidated Entity, Excluding Consolidated VIE | Augusta, Georgia
Real Estate Properties
Rentable square feet (in sqft) | ft²								226,000,000
Purchase price								$ 38,053,000
Acquisition and other transaction related costs								$ 53,000
Percent of property leased								100%
Remaining lease contractual term								14 years 10 months 24 days
Monmouth Real Estate Investment Corporation
Real Estate Properties
Number of real estate properties | property	124	124	124	124	124	124	124
Rentable square feet (in sqft) | ft²	25,745,000,000	25,745,000,000	25,745,000,000	25,745,000,000	25,745,000,000	25,745,000,000	25,745,000,000
Monmouth Real Estate Investment Corporation | Common shares
Real Estate Properties
Common stock, par value per share (in usd per share) | $ / shares	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01

Real Estate Investments - Purch

Real Estate Investments - Purchase Price Allocation (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 25, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Asset Acquisition [Line Items]
Proceeds from sale of marketable securities		$ 0	$ 140,792	$ 0
Loss on equity securities		$ 0	5,758	$ 0
Monmouth Real Estate Investment Corporation
Asset Acquisition [Line Items]
Land	$ 430,818
Buildings	3,035,309
Acquired real estate leases	294,576
Cash	8,814
Other assets, net	14,194
Securities available for sale	146,550
Total assets	3,930,261
Mortgage notes payable, at fair value	(323,432)
Accounts payable and other liabilities	(25,327)
Assumed real estate lease obligations	(17,829)
Equity attributable to noncontrolling interest in the joint venture	(3,827)
Net assets acquired	3,559,846
Assumed working capital	(144,230)
Assumed mortgage notes payable, principal	323,432
Purchase price	$ 3,739,048
Proceeds from sale of marketable securities			$ 140,792
Monmouth Real Estate Investment Corporation | Above market lease
Asset Acquisition [Line Items]
Weighted average useful life	11 years 1 month 6 days
Monmouth Real Estate Investment Corporation | Acquired Real Estate Leases
Asset Acquisition [Line Items]
Weighted average useful life	8 years 6 months
Monmouth Real Estate Investment Corporation | Capitalized Below Market Lease
Asset Acquisition [Line Items]
Weighted average useful life	7 years 9 months 18 days

Real Estate Investments - Prope

Real Estate Investments - Property Acquisitions (Details) $ in Thousands		1 Months Ended	12 Months Ended
	Feb. 25, 2022 property	Jul. 31, 2022 USD ($) ft² property	Dec. 31, 2023 USD ($) ft² property	Dec. 31, 2021 USD ($) ft² property	Dec. 31, 2022 USD ($)
Real Estate [Line Items]
Rentable Square Feet (in sqft) | ft²			59,951,000
Land			$ 1,113,723		$ 1,117,779
Buildings and Improvements			4,055,829		4,058,329
Acquired Real Estate Leases			243,521		297,445
Acquired Real Estate Lease Obligations			$ (18,534)		$ (22,523)
2021 Acquisitions
Real Estate [Line Items]
Number of Properties | property				5
Rentable Square Feet (in sqft) | ft²				1,644,508
Purchase Price				$ 134,730
Land				9,732
Buildings and Improvements				115,007
Acquired Real Estate Leases				10,056
Acquired Real Estate Lease Obligations				$ (65)
2021 Acquisitions | Office and Industrial Properties
Real Estate [Line Items]
Number of Properties | property				4
Dallas, TX | 2021 Acquisitions
Real Estate [Line Items]
Number of Properties | property				1
Rentable Square Feet (in sqft) | ft²				0
Purchase Price				$ 2,319
Land				2,319
Buildings and Improvements				0
Acquired Real Estate Leases				0
Acquired Real Estate Lease Obligations				$ 0
Columbus, OH | 2021 Acquisitions | Office and Industrial Properties
Real Estate [Line Items]
Number of Properties | property				1
Rentable Square Feet (in sqft) | ft²				357,504
Purchase Price				$ 31,762
Land				1,491
Buildings and Improvements				27,407
Acquired Real Estate Leases				2,864
Acquired Real Estate Lease Obligations				$ 0
Memphis, TN | 2021 Acquisitions | Office and Industrial Properties
Real Estate [Line Items]
Number of Properties | property				3
Rentable Square Feet (in sqft) | ft²				1,287,004
Purchase Price				$ 100,649
Land				5,922
Buildings and Improvements				87,600
Acquired Real Estate Leases				7,192
Acquired Real Estate Lease Obligations				$ (65)
Monmouth Real Estate Investment Corporation
Real Estate [Line Items]
Number of Properties | property	95	1	94
Monmouth Real Estate Investment Corporation | Augusta, Georgia
Real Estate [Line Items]
Number of Properties | property		1
Rentable Square Feet (in sqft) | ft²		225,997
Purchase Price		$ 38,053
Land		3,818
Buildings and Improvements		30,780
Acquired Real Estate Leases		$ 3,455

Real Estate Investments - Pro_2

Real Estate Investments - Property Dispositions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) ft² property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square Feet (in sqft) | ft²	59,951,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2023 Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | property	2
Square Feet (in sqft) | ft²	489,825
Gross Sales Price	$ 25,460
Gain (Loss) on Sale of Real Estate	$ 1,710
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2023 Dispositions | Everett, WA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square Feet (in sqft) | ft²	246,114
Gross Sales Price	$ 270
Gain (Loss) on Sale of Real Estate	$ (974)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2023 Dispositions | Mesquite, TX
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | property	1
Square Feet (in sqft) | ft²	211,112
Gross Sales Price	$ 20,890
Gain (Loss) on Sale of Real Estate	$ 118
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2023 Dispositions | Asheville, NC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties | property	1
Square Feet (in sqft) | ft²	32,599
Gross Sales Price	$ 4,300
Gain (Loss) on Sale of Real Estate	$ 2,566

Real Estate Investments - Dispo

Real Estate Investments - Dispositions Narrative (Details) $ in Thousands	1 Months Ended	10 Months Ended	12 Months Ended
	Sep. 30, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) ft² property state	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Feb. 25, 2022
Real Estate [Line Items]
Square Feet (in sqft) | ft²			59,951,000
Number of properties owned | property			411
Net income (loss) attributable to noncontrolling interest			$ (41,730)	$ (60,118)	$ 0
Mountain Industrial REIT LLC
Real Estate [Line Items]
Net income (loss) attributable to noncontrolling interest		$ (60,067)	(41,798)
Mountain Industrial REIT LLC | Other Joint Venture Investor
Real Estate [Line Items]
Joint venture, total assets			3,026,194
Joint venture, liabilities			$ 1,774,380
12 Mainland Properties
Real Estate [Line Items]
Square Feet (in sqft) | ft²			11,726,000
Ownership interest			22%
Number of states where real estate is located | state			12
Number of properties contributed | property			18
Consolidated Entity, Excluding Consolidated VIE | Mountain Industrial REIT LLC
Real Estate [Line Items]
Square Feet (in sqft) | ft²			20,981,000
Ownership interest			61%			61%
Number of properties owned | property			94
Number of states where real estate is located | state			27
Partnership Interest | The Industrial Fund REIT LLC
Real Estate [Line Items]
Ownership interest			22%
Somerset, New Jersey | Tenancy in Common | Unrelated Third Party
Real Estate [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners			33%
Somerset, New Jersey | Tenancy in Common | Unrelated Third Party
Real Estate [Line Items]
Square Feet (in sqft) | ft²			64,000
Ownership interest			67%
Net income (loss) attributable to noncontrolling interest		$ (51)	$ 68
Number of properties | property			1
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2023 Dispositions
Real Estate [Line Items]
Number of Properties | property			2
Square Feet (in sqft) | ft²			489,825
Aggregate sales price			$ 25,460
Gain on sale of real estate			$ 1,710
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2021 Dispositions | Land | Rock Hill, SC
Real Estate [Line Items]
Proceeds from sale of real estate	$ 1,400
Gain on sale of real estate	$ 940

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessor, Lease, Description [Line Items]
Variable lease income	$ 76,572	$ 63,168	$ 38,732
FedEx Corporation
Lessor, Lease, Description [Line Items]
Percentage of rentable square feet	29.70%	29.60%
Amazon.com, Inc
Lessor, Lease, Description [Line Items]
Percentage of rentable square feet	6.70%	6.70%
Hawaii | Sales Revenue, Net | Geographic Concentration Risk
Lessor, Lease, Description [Line Items]
Percentage of revenues	28%	29.70%	50.60%

Leases - Schedule of Future Con

Leases - Schedule of Future Contractual Lease Payments Due from our Tenants (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 344,967
2025	327,988
2026	308,240
2027	284,553
2028	240,654
Thereafter	1,555,987
Total	$ 3,062,389

Indebtedness - Schedule of Outs

Indebtedness - Schedule of Outstanding Indebtedness (Details) $ in Thousands		12 Months Ended
	Feb. 25, 2022 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property	Sep. 22, 2022 USD ($)
Debt Instrument [Line Items]
Total principal balance		$ 4,325,944	$ 4,290,363
Interest rate (as a percent)		5.47%	5.43%
Net book value of collateral		$ 4,735,716	$ 4,857,352
Unamortized debt issuance costs		(20,003)	(45,862)
Total indebtedness, net		$ 4,305,941	$ 4,244,501	$ 1,235,000
Floating Rate Loan
Debt Instrument [Line Items]
Number of properties used as collateral | property	82
Total indebtedness, net	$ 1,400,000
Floating Rate Loan | Floating rate loan, 6.18%, due in 2024
Debt Instrument [Line Items]
Number of properties used as collateral | property		104	104
Total principal balance		$ 1,235,000	$ 1,235,000
Interest rate (as a percent)		6.18%	6.18%
Net book value of collateral		$ 1,044,028	$ 1,071,815
Floating Rate Loan | Floating rate loan, 6.17%, due in 2024
Debt Instrument [Line Items]
Number of properties used as collateral | property		82	82
Total principal balance		$ 1,400,000	$ 1,400,000
Interest rate (as a percent)		6.17%	6.17%
Net book value of collateral		$ 1,857,062	$ 1,909,185
Fixed Rate Loan
Debt Instrument [Line Items]
Number of properties used as collateral | property	17
Interest rate (as a percent)	4.42%
Total indebtedness, net	$ 700,000
Fixed Rate Loan | Fixed rate loan, 4.31%, due in 2029
Debt Instrument [Line Items]
Number of properties used as collateral | property		186	186
Total principal balance		$ 650,000	$ 650,000
Interest rate (as a percent)		4.31%	4.31%
Net book value of collateral		$ 490,149	$ 490,416
Fixed Rate Loan | Fixed rate loan, 4.42%, due in 2032
Debt Instrument [Line Items]
Number of properties used as collateral | property		17	17
Total principal balance		$ 700,000	$ 700,000
Interest rate (as a percent)		4.42%	4.42%
Net book value of collateral		$ 505,153	$ 518,806
Fixed Rate Loan | Fixed rate loan, 6.25% due in 2030
Debt Instrument [Line Items]
Number of properties used as collateral | property		4
Total principal balance		$ 91,000
Interest rate (as a percent)		6.25%
Net book value of collateral		$ 183,264
Fixed Rate Loan | Fixed rate loan, 3.67% due in 2031
Debt Instrument [Line Items]
Number of properties used as collateral | property		1	1
Total principal balance		$ 11,380	$ 12,691
Interest rate (as a percent)		3.67%	3.67%
Net book value of collateral		$ 28,932	$ 30,800
Fixed Rate Loan | Fixed rate loan, 4.14%, due in 2032
Debt Instrument [Line Items]
Number of properties used as collateral | property		1	1
Total principal balance		$ 12,916	$ 14,144
Interest rate (as a percent)		4.14%	4.14%
Net book value of collateral		$ 43,510	$ 44,777
Fixed Rate Loan | Fixed rate loan, 4.02%, due in 2033
Debt Instrument [Line Items]
Number of properties used as collateral | property		1	1
Total principal balance		$ 28,622	$ 30,949
Interest rate (as a percent)		4.02%	4.02%
Net book value of collateral		$ 84,793	$ 87,143
Fixed Rate Loan | Fixed rate loan, 4.13%, due in 2033
Debt Instrument [Line Items]
Number of properties used as collateral | property		1	1
Total principal balance		$ 40,019	$ 43,219
Interest rate (as a percent)		4.13%	4.13%
Net book value of collateral		$ 129,749	$ 131,539
Fixed Rate Loan | Fixed rate loan, 3.10%, due in 2035
Debt Instrument [Line Items]
Number of properties used as collateral | property		1	1
Total principal balance		$ 24,433	$ 26,175
Interest rate (as a percent)		3.10%	3.10%
Net book value of collateral		$ 46,394	$ 47,718
Fixed Rate Loan | Fixed rate loan, 2.95%, due in 2036
Debt Instrument [Line Items]
Number of properties used as collateral | property		1	1
Total principal balance		$ 39,411	$ 42,087
Interest rate (as a percent)		2.95%	2.95%
Net book value of collateral		$ 99,108	$ 101,896
Fixed Rate Loan | Fixed rate loan, 4.27%, due in 2037
Debt Instrument [Line Items]
Number of properties used as collateral | property		1	1
Total principal balance		$ 43,850	$ 46,109
Interest rate (as a percent)		4.27%	4.27%
Net book value of collateral		$ 110,097	$ 113,063
Fixed Rate Loan | Fixed rate loan, 3.25%, due in 2038
Debt Instrument [Line Items]
Number of properties used as collateral | property		1	1
Total principal balance		$ 49,313	$ 52,031
Interest rate (as a percent)		3.25%	3.25%
Net book value of collateral		$ 113,477	$ 116,607
Fixed Rate Loan | Fixed rate loan, 3.76%, due in 2028
Debt Instrument [Line Items]
Number of properties used as collateral | property			1
Total principal balance			$ 13,556
Interest rate (as a percent)			3.76%
Net book value of collateral			$ 63,314
Fixed Rate Loan | Fixed rate loan, 3.77%, due in 2030
Debt Instrument [Line Items]
Number of properties used as collateral | property			1
Total principal balance			$ 4,865
Interest rate (as a percent)			3.77%
Net book value of collateral			$ 39,724
Fixed Rate Loan | Fixed rate loan, 3.85%, due in 2030
Debt Instrument [Line Items]
Number of properties used as collateral | property			1
Total principal balance			$ 5,145
Interest rate (as a percent)			3.85%
Net book value of collateral			$ 39,724
Fixed Rate Loan | Fixed rate loan, 3.56%, due in 2030
Debt Instrument [Line Items]
Number of properties used as collateral | property			1
Total principal balance			$ 14,392
Interest rate (as a percent)			3.56%
Net book value of collateral			$ 50,825

Indebtedness - Narrative (Detai

Indebtedness - Narrative (Details)							1 Months Ended	7 Months Ended	12 Months Ended
	Sep. 22, 2022 USD ($) property option	Feb. 25, 2022 USD ($)	Feb. 25, 2022 USD ($) property	Feb. 25, 2022 USD ($) option	Feb. 25, 2022 USD ($)	Feb. 25, 2022 USD ($) extension_option	May 31, 2023 USD ($) property mortgage	Sep. 22, 2022 USD ($)	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Loss on early extinguishment of debt									$ 359,000	$ 22,198,000	$ 0
Interest rate (as a percent)									5.47%	5.43%
Long-term debt	$ 1,235,000,000							$ 1,235,000,000	$ 4,305,941,000	$ 4,244,501,000
Principal balance									$ 4,325,944,000	4,290,363,000
Joint Venture
Debt Instrument [Line Items]
Number of outstanding mortgage loans | mortgage							4
Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Strike rate												2.70%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity of revolving credit facility		$ 750,000,000	$ 750,000,000	$ 750,000,000	$ 750,000,000	$ 750,000,000					$ 750,000,000
Interest rate at period end (as a percent)		1.41%	1.41%	1.41%	1.41%	1.41%
Interest rate during period (as a percent)											1.44%
Loss on early extinguishment of debt										$ 828,000
Floating Rate Loan
Debt Instrument [Line Items]
Number of options to extend maturity date				3		3
Extension period		1 year
Long-term debt		$ 1,400,000,000	$ 1,400,000,000	$ 1,400,000,000	$ 1,400,000,000	$ 1,400,000,000
Number of properties used as collateral | property			82
Floating Rate Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					2.25%
Option to increase in premium (in basis points)													0.515%
Floating Rate Loan | Bridge Loan Facility | Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Strike rate													3.40%
Floating Rate Loan | Floating Rate Loan, 6.17%, due in 2024
Debt Instrument [Line Items]
Interest rate (as a percent)									6.17%
Floating Rate Loan | Floating Rate Loan, 6.17%, due in 2024 | February 25, 2022 to December 31, 2022
Debt Instrument [Line Items]
Interest rate (as a percent)										6.10%
Bridge Loan Facility
Debt Instrument [Line Items]
Interest rate during period (as a percent)									2.92%
Loss on early extinguishment of debt										$ 21,370,000
Long-term debt	$ 1,235,000,000	$ 1,385,158,000	$ 1,385,158,000	$ 1,385,158,000	$ 1,385,158,000	$ 1,385,158,000		$ 1,235,000,000
Number of properties used as collateral | property			109
Bridge Loan Facility | February 25, 2022 to September 22, 2022
Debt Instrument [Line Items]
Interest rate during period (as a percent)								4.24%
Bridge Loan Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					1.75%
Mezzanine agreement premium (as a percent)		8%	8%	8%	8%	8%
Bridge Loan Facility | Bridge Loan Facility | Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Debt Instrument [Line Items]
Strike rate		2.70%	2.70%	2.70%	2.70%	2.70%
Fixed Rate Loan
Debt Instrument [Line Items]
Interest rate during period (as a percent)									4.42%
Interest rate (as a percent)		4.42%	4.42%	4.42%	4.42%	4.42%
Long-term debt		$ 700,000,000	$ 700,000,000	$ 700,000,000	$ 700,000,000	$ 700,000,000
Prepayment terms without premium amount		$ 280,000	$ 280,000	$ 280,000	$ 280,000	$ 280,000
Number of properties used as collateral | property			17
ILPT Floating Rate Loan
Debt Instrument [Line Items]
Interest rate during period (as a percent)	3.93%
Number of options to extend maturity date | option	3
Extension period	1 year
Prepayment terms without premium amount	$ 247,000,000							$ 247,000,000
Number of properties used as collateral | property	104
Weighted average interest rate (as a percent)									6.18%	6.18%
ILPT Floating Rate Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.25%
Mortgages Loan
Debt Instrument [Line Items]
Long-term debt	$ 1,100,000,000							1,100,000,000
Mortgages Loan | Floating Rate Loan, 6.17%, due in 2024
Debt Instrument [Line Items]
Number of properties used as collateral | property									82
Mortgages Loan | Fixed Rate Loan, 6.25% Interest Rate, Due in 2030 | Joint Venture
Debt Instrument [Line Items]
Loss on early extinguishment of debt									$ 359,000
Number of properties used as collateral | property							4
Weighted average interest rate (as a percent)							3.70%
Debt instrument, face amount							$ 91,000,000
Annual interest rate (as a percent)							6.25%
Principal balance							$ 35,910,000
Mezzanine Loan
Debt Instrument [Line Items]
Long-term debt	$ 135,000,000							$ 135,000,000

Indebtedness - Summary of Futur

Indebtedness - Summary of Future Indebtedness Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 2,653,114
2025	18,794
2026	19,495
2027	20,229
2028	20,989
Thereafter	1,593,323
Total principal balance	$ 4,325,944	$ 4,290,363

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value of Financial Instruments
Mortgages and notes payable, net	$ 4,305,941	$ 4,244,501
Carrying Amount
Fair Value of Financial Instruments
Mortgages and notes payable, net	1,682,501	1,646,736
Estimated Fair Value
Fair Value of Financial Instruments
Mortgages and notes payable, net	$ 1,553,863	$ 1,487,147

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Assets Measured on Recurring Basis (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Fair Value of Financial Instruments
Real estate properties	$ 4,772,098	$ 4,902,641
Fair Value, Recurring
Fair Value of Financial Instruments
Investment in unconsolidated joint venture	115,360	124,358
Interest rate caps	30,576	73,133
Fair Value, Recurring | Fair Value, Inputs, Level 1
Fair Value of Financial Instruments
Investment in unconsolidated joint venture	0	0
Interest rate caps	0	0
Fair Value, Recurring | Fair Value, Inputs, Level 2
Fair Value of Financial Instruments
Investment in unconsolidated joint venture	0	0
Interest rate caps	30,576	73,133
Fair Value, Recurring | Fair Value, Inputs, Level 3
Fair Value of Financial Instruments
Investment in unconsolidated joint venture	115,360	124,358
Interest rate caps	0	0
Fair Value, Nonrecurring
Fair Value of Financial Instruments
Real estate properties	1,414	555,123
Fair Value, Nonrecurring | Fair Value, Inputs, Level 1
Fair Value of Financial Instruments
Real estate properties	0	0
Fair Value, Nonrecurring | Fair Value, Inputs, Level 2
Fair Value of Financial Instruments
Real estate properties	0	0
Fair Value, Nonrecurring | Fair Value, Inputs, Level 3
Fair Value of Financial Instruments
Real estate properties	$ 1,414	$ 555,123
Number of properties impaired | property	1	25

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Fair Value Measurements Significant Unobservable Inputs Related to Certain Level 3 (Details) - Fair Value, Inputs, Level 3	Dec. 31, 2023	Dec. 31, 2022
Measurement Input, Discount Rate | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment in unconsolidated joint venture	0.0575	0.0525
Measurement Input, Discount Rate | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment in unconsolidated joint venture	0.0800	0.0700
Measurement Input, Exit Capitalization Rate | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment in unconsolidated joint venture	0.0525	0.0475
Measurement Input, Exit Capitalization Rate | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment in unconsolidated joint venture	0.0650	0.0600
Measurement Input, Holdings Periods
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment in unconsolidated joint venture, holding periods		10 years
Measurement Input, Holdings Periods | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment in unconsolidated joint venture, holding periods	9 years
Measurement Input, Holdings Periods | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Investment in unconsolidated joint venture, holding periods	12 years

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities - Changes In Fair Value For Our Investment In Unconsolidated Joint Venture (Details) - Equity Method Investments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 124,358	$ 143,022
Equity in earnings of unconsolidated joint venture	902	7,078
Distributions from unconsolidated joint venture	(9,900)	(25,742)
Ending balance	$ 115,360	$ 124,358

Shareholders' Equity - Share Aw

Shareholders' Equity - Share Awards (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) installment shares	Dec. 31, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares (in shares)	288,310	260,800	192,380	162,200
2024 (in shares)	100,280
2025 (in shares)	84,660
2026 (in shares)	66,000
2027 (in shares)	37,370
Estimated future compensation expense for the unvested shares | $	$ 2,111
Weighted average period of which compensation expense will be recognized	23 months
Compensation expense | $	$ 1,741	$ 2,221	$ 2,328
Shares available for issuance under the award plan	3,156,613
Trustees | Common shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)	20,000	3,500	3,500
Common shares granted | $	$ 249	$ 369	$ 538
Related Party | RMR LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares granted (in shares)	188,350	173,300	118,800
Common shares granted | $	$ 684	$ 1,184	$ 3,086
Related Party | RMR LLC | Officers and Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal annual installments | installment			5

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Unvested Shares Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested shares at the beginning of the period (in shares)	260,800	192,380	162,200
Granted (in shares)	328,350	197,800	139,800
Vested (in shares)	(296,890)	(127,480)	(108,920)
Forfeited (in shares)	(3,950)	(1,900)	(700)
Unvested shares at the end of the period (in shares)	288,310	260,800	192,380
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested shares at the beginning of the period (in dollars per share)	$ 15.07	$ 24.15	$ 22.37
Granted (in dollars per share)	2.84	7.85	25.93
Vested (in dollars per share)	8.02	17.44	23.78
Forfeited (in dollars per share)	11.40	24.55	22.24
Unvested shares at the end of the period (in dollars per share)	$ 8.50	$ 15.07	$ 24.15

Shareholders' Equity - Common S

Shareholders' Equity - Common Share Purchases (Details) - Common shares - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchases to pay for tax withholding (in shares)	49,158	32,347	35,596
Share price (in dollars per share)	$ 3.29	$ 7.50	$ 25.91

Shareholders' Equity - Distribu

Shareholders' Equity - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 11, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends Payable [Line Items]
Distribution per share (in dollars per share)		$ 0.04	$ 0.68	$ 1.32
Total Distributions		$ 2,627	$ 44,477	$ 86,236
Distributions per share paid (in dollars per share)		100%	89.70%	0%
Distribution characterization percentage, ordinary income		0%	9.60%	93.20%
Distribution characterization percentage, capital gain		0%	0.70%	6.80%
Subsequent Event
Dividends Payable [Line Items]
Common distributions declared (in dollars per share)	$ 0.01
Dividends payable	$ 658

Per Common Shares Amounts (Deta

Per Common Shares Amounts (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerators:
Net (loss) income attributable to common shareholders	$ (107,989)	$ (226,723)	$ 119,682
Income attributable to participating unvested share awards	(10)	(131)	(307)
Net (loss) income attributable to common shareholders used in calculating earnings per share	$ (107,999)	$ (226,854)	$ 119,375
Denominators:
Weighted average common shares for basic earnings per share (in shares)	65,430	65,248	65,169
Effect of unvested share awards (in shares)	0	0	42
Weighted average common shares for diluted earnings per share (in shares)	65,430	65,248	65,211
Net (loss) income attributable to common shareholders per common share - basic (in dollars per share)	$ (1.65)	$ (3.47)	$ 1.83
Net (loss) income attributable to common shareholders per common share - diluted (in dollars per share)	$ (1.65)	$ (3.47)	$ 1.83

Business and Property Managem_2

Business and Property Management Agreements with RMR (Details)		1 Months Ended	12 Months Ended
	Feb. 25, 2022 USD ($) investor property	Jul. 31, 2022 property	Dec. 31, 2023 USD ($) employee agreement property investor	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Number of employees | employee			0
Property management fees as percentage of gross collected rents			3%
Construction supervision fees as percentage of construction costs			5%
Other operating expenses			$ 38,192,000	$ 30,855,000	$ 18,678,000
Number of business days prior written notice for termination of property management agreement			60 days
Window following a change of control			12 months
Number of joint venture agreements | agreement			2
Monmouth Real Estate Investment Corporation
Related Party Transaction [Line Items]
Number of investors | investor	1
Number of properties | property	95	1	94
Mountain Industrial REIT LLC
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners	39%
12 Mainland Properties
Related Party Transaction [Line Items]
Number of investors | investor			2
Number of properties contributed | property			18
Ownership interest			22%
Monmouth Real Estate Investment Corporation
Related Party Transaction [Line Items]
Ownership interest	61%
Number of properties | property				25
Property Management and Construction Supervision Fees
Related Party Transaction [Line Items]
Related party transaction, amount			$ 13,449,000	$ 11,916,000	6,606,000
Capitalized Property Management and Construction Supervision Fees
Related Party Transaction [Line Items]
Related party transaction, amount			649,000	858,000	211,000
Reimbursed Property Level Operating Expenses
Related Party Transaction [Line Items]
Related party transaction, amount			$ 8,378,000	6,785,000	4,786,000
Amended and Restated Asset Management Agreement | 12 Mainland Properties | The Industrial Fund REIT Inc.
Related Party Transaction [Line Items]
Ownership interest			22%
Related Party
Related Party Transaction [Line Items]
Number of management service agreements | agreement			2
Management fee expense			$ 23,154,000	23,701,000	10,562,000
Incentive management fee			$ 0	0	0
Term remaining prior to termination used in calculation of termination fee			10 years
Period of transition services after termination agreement			120 days
Related Party | Minimum
Related Party Transaction [Line Items]
Termination fee term			19 years
Related Party | Maximum
Related Party Transaction [Line Items]
Termination fee term			20 years
Related Party | Property Management and Construction Supervision Fees
Related Party Transaction [Line Items]
Other operating expenses			$ 12,800,000	$ 11,058,000	$ 6,395,000
Related Party | Reit Management And Research L L C
Related Party Transaction [Line Items]
Number of management service agreements | agreement			2
Percentage applied on average historical cost of real estate investment properties acquired to calculate base management fee			0.50%
Base management fee payable as percentage of average historical cost of real estate investments excluding transferred assets for investments up to specified amount			0.70%
Base management fee payable threshold amount of other real estate investments			$ 250,000,000
Annual business management fee as percentage of aggregate cost of properties acquired in excess of specified amount			0.50%
Base management fee payable as percentage of average closing stock price on stock exchange			0.70%
Base management fee payable as percentage of average market capitalization exceeding specified amount			0.50%
Percentage for limitation and adjustments of incentive management fee payable			12%
Period of consecutive trading days			10 days
Period of trading days of measurement period used in calculation			30 days
Incentive management fee payable			$ 0
Incentive management fee measurement period			3 years
Required return per share to adjust the return per share benchmark			12%
Adjusted benchmark return qualification for management fee reduction minimum			2%
Adjusted benchmark return qualification for management fee reduction maximum			5%
Incentive management fee, percentage of common shares outstanding used in calculation			1.50%
Co-venturer | Mountain Industrial REIT LLC
Related Party Transaction [Line Items]
Noncontrolling interest in joint ventures	$ 589,411,000

Related Person Transactions (De

Related Person Transactions (Details) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2021 USD ($)	Dec. 31, 2023 USD ($) agreement	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Number of joint venture agreements | agreement		2
Related Party
Related Party Transaction [Line Items]
Number of management service agreements | agreement		2
Accounts payable and other liabilities | $		$ 4,966	$ 4,824
Related Party | Vesting on Grant Date
Related Party Transaction [Line Items]
Award vesting rights		20%
Related Party | Vesting on 1st Anniversary
Related Party Transaction [Line Items]
Award vesting rights		20%
Related Party | Vesting on 2nd Anniversary
Related Party Transaction [Line Items]
Award vesting rights		20%
Related Party | Vesting on 3rd Anniversary
Related Party Transaction [Line Items]
Award vesting rights		20%
Related Party | Vesting on 4th Anniversary
Related Party Transaction [Line Items]
Award vesting rights		20%
Related Party | RMR LLC
Related Party Transaction [Line Items]
Number of management service agreements | agreement		2
Related Party | Mesquite, TX
Related Party Transaction [Line Items]
Payments to acquire real estate | $	$ 2,319
Acquisition related cost | $	$ 119
Joint Venture
Related Party Transaction [Line Items]
Number of joint venture agreements | agreement		2
Accounts payable and other liabilities | $		$ 680	$ 616

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Schedule of Interest Rate Cap Agreements (Details) - Interest Rate Swap - Cash Flow Hedging - Designated as Hedging Instrument - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate			2.70%
Notional amount			$ 1,385,158,000
Fair value	$ 30,576,000	$ 73,133,000	$ 7,740,000
Floating Rate Loan
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	3.40%
Notional amount	$ 1,400,000,000
Fair value	$ 5,516,000	23,337,000
ILPT Floating Rate Loan
Derivative Instruments, Gain (Loss) [Line Items]
Strike rate	2.25%
Notional amount	$ 1,235,000,000
Fair value	$ 25,060,000	$ 49,796,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Narrative (Details) - Interest Rate Swap - Cash Flow Hedging - Designated as Hedging Instrument	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($) derivative_instrument
Derivative Instruments, Gain (Loss) [Line Items]
Number of Instruments | derivative_instrument			2
Notional amount			$ 1,385,158,000
Strike rate			2.70%
Derivative instruments in hedges, at fair value, net	$ 30,576,000	$ 73,133,000	$ 7,740,000

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Schedule of Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain recognized in cumulative other comprehensive income	$ 15,640	$ 34,825
Unrealized (loss) gain on derivative instrument recognized in cumulative other comprehensive loss	(17,999)	30,194	$ 0
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount reclassified from cumulative other comprehensive income	(33,639)	2,330
Loss on Early Extinguishment
Derivative Instruments, Gain (Loss) [Line Items]
Amount reclassified from cumulative other comprehensive income	$ 0	$ (6,961)

SCHEDULE III - REAL ESTATE AN_2

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Real Estate Properties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property mortgage	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Initial Cost to Company
Land	$ 1,130,169
Buildings and Equipment	4,063,151
Costs Capitalized Subsequent to Acquisition	71,026
Impairment/ Writedowns	(94,794)
Gross Amount Carried at Close of Period
Land	1,113,723
Buildings and Equipment	4,055,829
Total	5,169,552	$ 5,176,108	$ 1,748,833	$ 1,809,070
Accumulated Depreciation	(397,454)	$ (273,467)	$ (167,490)	$ (141,406)
U.S. federal income tax basis	$ 5,724,491
Building and Building Improvements
Gross Amount Carried at Close of Period
Life used for depreciation	40 years
Mortgages Loan
Gross Amount Carried at Close of Period
Encumbrances	$ 4,305,941
Undepreciated cost	$ 5,134,208
Mortgages Loan | 104 properties encumbered by the ILPT Floating Rate Loan
Gross Amount Carried at Close of Period
Number of properties used as collateral | property	104
Encumbrances	$ 1,227,024
Undepreciated cost	$ 1,172,409
Mortgages Loan | 8 properties encumbered by mortgage loans
Gross Amount Carried at Close of Period
Number of properties used as collateral | property	8
Encumbrances	$ 249,944
Undepreciated cost	$ 686,408
Mortgages Loan | 82 properties encumbered by the Floating Rate Loan
Gross Amount Carried at Close of Period
Number of properties used as collateral | property	82
Encumbrances	$ 1,396,416
Undepreciated cost	$ 1,961,063
Mortgages Loan | 4 properties encumbered by one mortgage loan
Gross Amount Carried at Close of Period
Number of properties used as collateral | property	4
Number of debt instruments | mortgage	1
Encumbrances	$ 90,066
Undepreciated cost	$ 192,662
Mortgages Loan | 186 properties encumbered by one mortgage loan
Gross Amount Carried at Close of Period
Number of properties used as collateral | property	186
Number of debt instruments | mortgage	1
Encumbrances	$ 647,214
Undepreciated cost	$ 507,172
Mortgages Loan | 17 properties encumbered by the Fixed Rate Loan
Gross Amount Carried at Close of Period
Number of properties used as collateral | property	17
Encumbrances	$ 695,277
Undepreciated cost	614,494
510 Production Avenue
Initial Cost to Company
Land	1,200
Buildings and Equipment	9,967
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(2,118)
Gross Amount Carried at Close of Period
Land	973
Buildings and Equipment	8,076
Total	9,049
Accumulated Depreciation	(409)
6735 Trippel Road
Initial Cost to Company
Land	1,500
Buildings and Equipment	44,354
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,500
Buildings and Equipment	44,354
Total	45,854
Accumulated Depreciation	(2,344)
11224 Will Walker Road
Initial Cost to Company
Land	3,901
Buildings and Equipment	40,857
Costs Capitalized Subsequent to Acquisition	550
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,901
Buildings and Equipment	41,407
Total	45,308
Accumulated Depreciation	(3,478)
3200 Rodeo Court
Initial Cost to Company
Land	3,201
Buildings and Equipment	23,462
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,201
Buildings and Equipment	23,462
Total	26,663
Accumulated Depreciation	(1,241)
4501 Industrial Drive
Initial Cost to Company
Land	900
Buildings and Equipment	3,485
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	900
Buildings and Equipment	3,485
Total	4,385
Accumulated Depreciation	(777)
9860 West Buckeye Road
Initial Cost to Company
Land	4,801
Buildings and Equipment	26,716
Costs Capitalized Subsequent to Acquisition	1
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,802
Buildings and Equipment	26,716
Total	31,518
Accumulated Depreciation	(2,468)
3870 Ronald Reagan Boulevard
Initial Cost to Company
Land	2,780
Buildings and Equipment	9,722
Costs Capitalized Subsequent to Acquisition	(1)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,780
Buildings and Equipment	9,721
Total	12,501
Accumulated Depreciation	(1,532)
125 North Troy Hill Road
Initial Cost to Company
Land	5,402
Buildings and Equipment	32,981
Costs Capitalized Subsequent to Acquisition	10
Impairment/ Writedowns	(10,790)
Gross Amount Carried at Close of Period
Land	3,882
Buildings and Equipment	23,721
Total	27,603
Accumulated Depreciation	(1,025)
14257 E. Easter Avenue
Initial Cost to Company
Land	1,801
Buildings and Equipment	10,563
Costs Capitalized Subsequent to Acquisition	12
Impairment/ Writedowns	(2,607)
Gross Amount Carried at Close of Period
Land	1,422
Buildings and Equipment	8,347
Total	9,769
Accumulated Depreciation	(507)
955 Aeroplaza Drive
Initial Cost to Company
Land	800
Buildings and Equipment	7,412
Costs Capitalized Subsequent to Acquisition	210
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	7,622
Total	8,422
Accumulated Depreciation	(1,672)
13400 East 39th Avenue and 3800 Wheeling Street
Initial Cost to Company
Land	3,100
Buildings and Equipment	12,955
Costs Capitalized Subsequent to Acquisition	16
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,100
Buildings and Equipment	12,971
Total	16,071
Accumulated Depreciation	(2,892)
150 Greenhorn Drive
Initial Cost to Company
Land	200
Buildings and Equipment	4,177
Costs Capitalized Subsequent to Acquisition	11
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	200
Buildings and Equipment	4,188
Total	4,388
Accumulated Depreciation	(931)
2 Tower Drive
Initial Cost to Company
Land	1,471
Buildings and Equipment	2,165
Costs Capitalized Subsequent to Acquisition	889
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,472
Buildings and Equipment	3,053
Total	4,525
Accumulated Depreciation	(1,269)
50 Hollow Tree Lane
Initial Cost to Company
Land	600
Buildings and Equipment	4,793
Costs Capitalized Subsequent to Acquisition	56
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	600
Buildings and Equipment	4,849
Total	5,449
Accumulated Depreciation	(298)
235 Great Pond Road
Initial Cost to Company
Land	2,400
Buildings and Equipment	9,469
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,400
Buildings and Equipment	9,469
Total	11,869
Accumulated Depreciation	(2,703)
2100 NW 82nd Avenue
Initial Cost to Company
Land	144
Buildings and Equipment	1,297
Costs Capitalized Subsequent to Acquisition	454
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	144
Buildings and Equipment	1,751
Total	1,895
Accumulated Depreciation	(987)
10450 Doral Boulevard
Initial Cost to Company
Land	15,225
Buildings and Equipment	28,102
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	15,225
Buildings and Equipment	28,102
Total	43,327
Accumulated Depreciation	(5,154)
13509 Waterworks Street
Initial Cost to Company
Land	3,701
Buildings and Equipment	37,720
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(9,346)
Gross Amount Carried at Close of Period
Land	2,866
Buildings and Equipment	29,209
Total	32,075
Accumulated Depreciation	(1,264)
27200 SW 127th Avenue
Initial Cost to Company
Land	24,808
Buildings and Equipment	22,762
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(8,376)
Gross Amount Carried at Close of Period
Land	20,440
Buildings and Equipment	18,754
Total	39,194
Accumulated Depreciation	(812)
3155 Grissom Parkway
Initial Cost to Company
Land	3,101
Buildings and Equipment	20,542
Costs Capitalized Subsequent to Acquisition	18
Impairment/ Writedowns	(4,620)
Gross Amount Carried at Close of Period
Land	2,495
Buildings and Equipment	16,546
Total	19,041
Accumulated Depreciation	(836)
950 Bennett Road
Initial Cost to Company
Land	2,701
Buildings and Equipment	12,334
Costs Capitalized Subsequent to Acquisition	213
Impairment/ Writedowns	(737)
Gross Amount Carried at Close of Period
Land	2,566
Buildings and Equipment	11,945
Total	14,511
Accumulated Depreciation	(619)
3736 Salisbury Road
Initial Cost to Company
Land	1,600
Buildings and Equipment	12,071
Costs Capitalized Subsequent to Acquisition	185
Impairment/ Writedowns	(2,998)
Gross Amount Carried at Close of Period
Land	1,252
Buildings and Equipment	9,606
Total	10,858
Accumulated Depreciation	(736)
1341 N. Clyde Morris Boulevard
Initial Cost to Company
Land	3,001
Buildings and Equipment	38,858
Costs Capitalized Subsequent to Acquisition	657
Impairment/ Writedowns	(1,762)
Gross Amount Carried at Close of Period
Land	2,875
Buildings and Equipment	37,879
Total	40,754
Accumulated Depreciation	(1,614)
5000 North Ridge Trail
Initial Cost to Company
Land	4,001
Buildings and Equipment	52,290
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,001
Buildings and Equipment	52,290
Total	56,291
Accumulated Depreciation	(2,764)
14001 Jetport Loop
Initial Cost to Company
Land	5,902
Buildings and Equipment	25,616
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	5,902
Buildings and Equipment	25,616
Total	31,518
Accumulated Depreciation	(1,354)
8411 Florida Mining Boulevard
Initial Cost to Company
Land	7,602
Buildings and Equipment	29,985
Costs Capitalized Subsequent to Acquisition	19
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	7,602
Buildings and Equipment	30,004
Total	37,606
Accumulated Depreciation	(1,852)
5101 West Waters Avenue
Initial Cost to Company
Land	3,101
Buildings and Equipment	12,134
Costs Capitalized Subsequent to Acquisition	157
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,101
Buildings and Equipment	12,291
Total	15,392
Accumulated Depreciation	(914)
3404 Cragmont Drive
Initial Cost to Company
Land	1,600
Buildings and Equipment	6,557
Costs Capitalized Subsequent to Acquisition	156
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,600
Buildings and Equipment	6,713
Total	8,313
Accumulated Depreciation	(485)
7569 Golf Course Boulevard
Initial Cost to Company
Land	0
Buildings and Equipment	6,042
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	0
Buildings and Equipment	6,042
Total	6,042
Accumulated Depreciation	(319)
1900 Interstate Boulevard
Initial Cost to Company
Land	500
Buildings and Equipment	3,405
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	500
Buildings and Equipment	3,405
Total	3,905
Accumulated Depreciation	(209)
2902 Gun Club Road
Initial Cost to Company
Land	1,200
Buildings and Equipment	9,861
Costs Capitalized Subsequent to Acquisition	41
Impairment/ Writedowns	(6,995)
Gross Amount Carried at Close of Period
Land	441
Buildings and Equipment	3,666
Total	4,107
Accumulated Depreciation	(157)
1078 Bertram Road
Initial Cost to Company
Land	900
Buildings and Equipment	1,867
Costs Capitalized Subsequent to Acquisition	77
Impairment/ Writedowns	(1,374)
Gross Amount Carried at Close of Period
Land	454
Buildings and Equipment	1,016
Total	1,470
Accumulated Depreciation	(76)
590 Northport Parkway
Initial Cost to Company
Land	16,905
Buildings and Equipment	66,945
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	16,905
Buildings and Equipment	66,945
Total	83,850
Accumulated Depreciation	(3,537)
3150 Highway 42
Initial Cost to Company
Land	9,803
Buildings and Equipment	109,420
Costs Capitalized Subsequent to Acquisition	40
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	9,805
Buildings and Equipment	109,458
Total	119,263
Accumulated Depreciation	(5,785)
650 Braselton Parkway
Initial Cost to Company
Land	6,902
Buildings and Equipment	82,238
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	6,902
Buildings and Equipment	82,238
Total	89,140
Accumulated Depreciation	(4,347)
700 Hudson Road
Initial Cost to Company
Land	900
Buildings and Equipment	20,442
Costs Capitalized Subsequent to Acquisition	243
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	900
Buildings and Equipment	20,685
Total	21,585
Accumulated Depreciation	(1,525)
505 Morgan Lakes Industrial Blvd.
Initial Cost to Company
Land	8,203
Buildings and Equipment	31,714
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	8,203
Buildings and Equipment	31,714
Total	39,917
Accumulated Depreciation	(1,679)
2002 International Boulevard
Initial Cost to Company
Land	3,818
Buildings and Equipment	30,780
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,818
Buildings and Equipment	30,780
Total	34,598
Accumulated Depreciation	(1,287)
2815 Kaihikapu Street
Initial Cost to Company
Land	1,818
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	6
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,818
Buildings and Equipment	6
Total	1,824
Accumulated Depreciation	(2)
609 Ahua Street
Initial Cost to Company
Land	616
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	616
Buildings and Equipment	0
Total	616
Accumulated Depreciation	0
2849 Kaihikapu Street
Initial Cost to Company
Land	860
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	860
Buildings and Equipment	0
Total	860
Accumulated Depreciation	0
709 Ahua Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2839 Kilihau Street
Initial Cost to Company
Land	627
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	627
Buildings and Equipment	0
Total	627
Accumulated Depreciation	0
2906 Kaihikapu Street
Initial Cost to Company
Land	1,814
Buildings and Equipment	2
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,814
Buildings and Equipment	2
Total	1,816
Accumulated Depreciation	(1)
733 Mapunapuna Street
Initial Cost to Company
Land	3,403
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,403
Buildings and Equipment	0
Total	3,403
Accumulated Depreciation	(2)
2864 Awaawaloa Street
Initial Cost to Company
Land	1,836
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,836
Buildings and Equipment	0
Total	1,836
Accumulated Depreciation	0
2850 Awaawaloa Street
Initial Cost to Company
Land	287
Buildings and Equipment	172
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	287
Buildings and Equipment	172
Total	459
Accumulated Depreciation	(86)
2806 Kaihikapu Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2838 Kilihau Street
Initial Cost to Company
Land	4,262
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,262
Buildings and Equipment	0
Total	4,262
Accumulated Depreciation	0
852 Mapunapuna Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
812 Mapunapuna Street
Initial Cost to Company
Land	1,960
Buildings and Equipment	25
Costs Capitalized Subsequent to Acquisition	626
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,611
Buildings and Equipment	0
Total	2,611
Accumulated Depreciation	0
2969 Mapunapuna Street
Initial Cost to Company
Land	4,038
Buildings and Equipment	15
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,038
Buildings and Equipment	15
Total	4,053
Accumulated Depreciation	(11)
855 Ahua Street
Initial Cost to Company
Land	1,834
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,834
Buildings and Equipment	0
Total	1,834
Accumulated Depreciation	0
2855 Kaihikapu Street
Initial Cost to Company
Land	1,807
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,807
Buildings and Equipment	0
Total	1,807
Accumulated Depreciation	0
865 Ahua Street
Initial Cost to Company
Land	1,846
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	153
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,846
Buildings and Equipment	153
Total	1,999
Accumulated Depreciation	0
719 Ahua Street
Initial Cost to Company
Land	1,960
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,960
Buildings and Equipment	0
Total	1,960
Accumulated Depreciation	0
759 Puuloa Road
Initial Cost to Company
Land	1,766
Buildings and Equipment	3
Costs Capitalized Subsequent to Acquisition	(3)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,766
Buildings and Equipment	0
Total	1,766
Accumulated Depreciation	0
770 Mapunapuna Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2915 Kaihikapu Street
Initial Cost to Company
Land	2,579
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,579
Buildings and Equipment	0
Total	2,579
Accumulated Depreciation	0
704 Mapunapuna Street
Initial Cost to Company
Land	2,390
Buildings and Equipment	685
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,390
Buildings and Equipment	685
Total	3,075
Accumulated Depreciation	(343)
822 Mapunapuna Street
Initial Cost to Company
Land	1,795
Buildings and Equipment	15
Costs Capitalized Subsequent to Acquisition	(15)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,795
Buildings and Equipment	0
Total	1,795
Accumulated Depreciation	0
842 Mapunapuna Street
Initial Cost to Company
Land	1,795
Buildings and Equipment	14
Costs Capitalized Subsequent to Acquisition	(14)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,795
Buildings and Equipment	0
Total	1,795
Accumulated Depreciation	0
2839 Mokumoa Street
Initial Cost to Company
Land	1,942
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,942
Buildings and Equipment	0
Total	1,942
Accumulated Depreciation	0
2861 Mokumoa Street
Initial Cost to Company
Land	3,867
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,867
Buildings and Equipment	0
Total	3,867
Accumulated Depreciation	0
619 Mapunapuna Street
Initial Cost to Company
Land	1,401
Buildings and Equipment	2
Costs Capitalized Subsequent to Acquisition	12
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,401
Buildings and Equipment	14
Total	1,415
Accumulated Depreciation	(4)
2847 Awaawaloa Street
Initial Cost to Company
Land	582
Buildings and Equipment	303
Costs Capitalized Subsequent to Acquisition	184
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	582
Buildings and Equipment	487
Total	1,069
Accumulated Depreciation	(189)
2928 Kaihikapu Street - A
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2928 Kaihikapu Street - B
Initial Cost to Company
Land	1,948
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,948
Buildings and Equipment	0
Total	1,948
Accumulated Depreciation	0
850 Ahua Street
Initial Cost to Company
Land	2,682
Buildings and Equipment	2
Costs Capitalized Subsequent to Acquisition	(2)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,682
Buildings and Equipment	0
Total	2,682
Accumulated Depreciation	0
659 Ahua Street
Initial Cost to Company
Land	860
Buildings and Equipment	20
Costs Capitalized Subsequent to Acquisition	(20)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	860
Buildings and Equipment	0
Total	860
Accumulated Depreciation	0
2831 Awaawaloa Street
Initial Cost to Company
Land	860
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	860
Buildings and Equipment	0
Total	860
Accumulated Depreciation	0
2760 Kam Highway
Initial Cost to Company
Land	703
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	191
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	703
Buildings and Equipment	191
Total	894
Accumulated Depreciation	(48)
2965 Mokumoa Street
Initial Cost to Company
Land	2,140
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,140
Buildings and Equipment	0
Total	2,140
Accumulated Depreciation	0
2814 Kilihau Street
Initial Cost to Company
Land	1,925
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,925
Buildings and Equipment	0
Total	1,925
Accumulated Depreciation	0
2804 Kilihau Street
Initial Cost to Company
Land	1,775
Buildings and Equipment	2
Costs Capitalized Subsequent to Acquisition	(2)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,775
Buildings and Equipment	0
Total	1,775
Accumulated Depreciation	0
2833 Kilihau Street
Initial Cost to Company
Land	601
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	601
Buildings and Equipment	0
Total	601
Accumulated Depreciation	0
692 Mapunapuna Street
Initial Cost to Company
Land	1,796
Buildings and Equipment	2
Costs Capitalized Subsequent to Acquisition	(2)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,796
Buildings and Equipment	0
Total	1,796
Accumulated Depreciation	0
669 Ahua Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	14
Costs Capitalized Subsequent to Acquisition	123
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	137
Total	1,938
Accumulated Depreciation	(37)
761 Ahua Street
Initial Cost to Company
Land	3,757
Buildings and Equipment	2
Costs Capitalized Subsequent to Acquisition	338
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,757
Buildings and Equipment	340
Total	4,097
Accumulated Depreciation	(71)
702 Ahua Street
Initial Cost to Company
Land	1,784
Buildings and Equipment	3
Costs Capitalized Subsequent to Acquisition	(3)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,784
Buildings and Equipment	0
Total	1,784
Accumulated Depreciation	0
645 Ahua Street
Initial Cost to Company
Land	882
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	90
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	882
Buildings and Equipment	90
Total	972
Accumulated Depreciation	0
675 Mapunapuna Street
Initial Cost to Company
Land	1,081
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,081
Buildings and Equipment	0
Total	1,081
Accumulated Depreciation	0
2858 Kaihikapu Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2857 Awaawaloa Street
Initial Cost to Company
Land	983
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	983
Buildings and Equipment	0
Total	983
Accumulated Depreciation	0
2812 Awaawaloa Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	3
Costs Capitalized Subsequent to Acquisition	(3)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2809 Kaihikapu Street
Initial Cost to Company
Land	1,837
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,837
Buildings and Equipment	0
Total	1,837
Accumulated Depreciation	0
803 Ahua Street
Initial Cost to Company
Land	3,804
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,804
Buildings and Equipment	0
Total	3,804
Accumulated Depreciation	0
2889 Mokumoa Street
Initial Cost to Company
Land	1,783
Buildings and Equipment	5
Costs Capitalized Subsequent to Acquisition	(5)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,783
Buildings and Equipment	0
Total	1,783
Accumulated Depreciation	0
819 Ahua Street
Initial Cost to Company
Land	4,821
Buildings and Equipment	583
Costs Capitalized Subsequent to Acquisition	30
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,821
Buildings and Equipment	613
Total	5,434
Accumulated Depreciation	(307)
830 Mapunapuna Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	25
Costs Capitalized Subsequent to Acquisition	(25)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2831 Kaihikapu Street
Initial Cost to Company
Land	1,272
Buildings and Equipment	529
Costs Capitalized Subsequent to Acquisition	55
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,272
Buildings and Equipment	584
Total	1,856
Accumulated Depreciation	(288)
2846-A Awaawaloa Street
Initial Cost to Company
Land	2,181
Buildings and Equipment	954
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,181
Buildings and Equipment	954
Total	3,135
Accumulated Depreciation	(478)
2816 Awaawaloa Street
Initial Cost to Company
Land	1,009
Buildings and Equipment	27
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,009
Buildings and Equipment	27
Total	1,036
Accumulated Depreciation	(14)
673 Ahua Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
697 Ahua Street
Initial Cost to Company
Land	994
Buildings and Equipment	811
Costs Capitalized Subsequent to Acquisition	(4)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	994
Buildings and Equipment	807
Total	1,801
Accumulated Depreciation	(405)
808 Ahua Street
Initial Cost to Company
Land	3,279
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,279
Buildings and Equipment	0
Total	3,279
Accumulated Depreciation	0
659 Puuloa Road
Initial Cost to Company
Land	1,807
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,807
Buildings and Equipment	0
Total	1,807
Accumulated Depreciation	0
666 Mapunapuna Street
Initial Cost to Company
Land	860
Buildings and Equipment	2
Costs Capitalized Subsequent to Acquisition	(2)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	860
Buildings and Equipment	0
Total	860
Accumulated Depreciation	0
679 Puuloa Road
Initial Cost to Company
Land	1,807
Buildings and Equipment	3
Costs Capitalized Subsequent to Acquisition	(3)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,807
Buildings and Equipment	0
Total	1,807
Accumulated Depreciation	0
673 Mapunapuna Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	20
Costs Capitalized Subsequent to Acquisition	(20)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2827 Kaihikapu Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2826 Kaihikapu Street
Initial Cost to Company
Land	3,921
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,921
Buildings and Equipment	0
Total	3,921
Accumulated Depreciation	0
685 Ahua Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2844 Kaihikapu Street
Initial Cost to Company
Land	1,960
Buildings and Equipment	14
Costs Capitalized Subsequent to Acquisition	62
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,960
Buildings and Equipment	76
Total	2,036
Accumulated Depreciation	0
789 Mapunapuna Street
Initial Cost to Company
Land	2,608
Buildings and Equipment	3
Costs Capitalized Subsequent to Acquisition	(3)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,608
Buildings and Equipment	0
Total	2,608
Accumulated Depreciation	0
2808 Kam Highway
Initial Cost to Company
Land	310
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	310
Buildings and Equipment	0
Total	310
Accumulated Depreciation	0
2815 Kilihau Street
Initial Cost to Company
Land	287
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	287
Buildings and Equipment	0
Total	287
Accumulated Depreciation	0
2821 Kilihau Street
Initial Cost to Company
Land	287
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	287
Buildings and Equipment	0
Total	287
Accumulated Depreciation	0
2829 Kilihau Street
Initial Cost to Company
Land	287
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	287
Buildings and Equipment	0
Total	287
Accumulated Depreciation	0
2819 Mokumoa Street - A
Initial Cost to Company
Land	1,821
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,821
Buildings and Equipment	0
Total	1,821
Accumulated Depreciation	0
2819 Mokumoa Street - B
Initial Cost to Company
Land	1,816
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,816
Buildings and Equipment	0
Total	1,816
Accumulated Depreciation	0
2879 Mokumoa Street
Initial Cost to Company
Land	1,789
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,789
Buildings and Equipment	0
Total	1,789
Accumulated Depreciation	0
2927 Mokumoa Street
Initial Cost to Company
Land	1,778
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,778
Buildings and Equipment	0
Total	1,778
Accumulated Depreciation	0
2833 Paa Street #2
Initial Cost to Company
Land	1,675
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,675
Buildings and Equipment	0
Total	1,675
Accumulated Depreciation	0
855 Mapunapuna Street
Initial Cost to Company
Land	3,265
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,265
Buildings and Equipment	0
Total	3,265
Accumulated Depreciation	0
2829 Awaawaloa Street
Initial Cost to Company
Land	1,720
Buildings and Equipment	2
Costs Capitalized Subsequent to Acquisition	82
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,720
Buildings and Equipment	84
Total	1,804
Accumulated Depreciation	0
766 Mapunapuna Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
2908 Kaihikapu Street
Initial Cost to Company
Land	1,798
Buildings and Equipment	23
Costs Capitalized Subsequent to Acquisition	(11)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,798
Buildings and Equipment	12
Total	1,810
Accumulated Depreciation	(4)
729 Ahua Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	18
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	18
Total	1,819
Accumulated Depreciation	0
739 Ahua Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	18
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	18
Total	1,819
Accumulated Depreciation	0
2868 Kaihikapu Street
Initial Cost to Company
Land	1,801
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	0
Total	1,801
Accumulated Depreciation	0
660 Ahua Street
Initial Cost to Company
Land	1,783
Buildings and Equipment	4
Costs Capitalized Subsequent to Acquisition	45
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,783
Buildings and Equipment	49
Total	1,832
Accumulated Depreciation	0
2869 Mokumoa Street
Initial Cost to Company
Land	1,794
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,794
Buildings and Equipment	0
Total	1,794
Accumulated Depreciation	0
2836 Awaawaloa Street
Initial Cost to Company
Land	1,353
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,353
Buildings and Equipment	0
Total	1,353
Accumulated Depreciation	0
113 Puuhale Road
Initial Cost to Company
Land	3,729
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,729
Buildings and Equipment	0
Total	3,729
Accumulated Depreciation	0
2140 Kaliawa Street
Initial Cost to Company
Land	931
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	931
Buildings and Equipment	0
Total	931
Accumulated Depreciation	0
165 Sand Island Access Road
Initial Cost to Company
Land	758
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	758
Buildings and Equipment	0
Total	758
Accumulated Depreciation	0
2106 Kaliawa Street
Initial Cost to Company
Land	1,568
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	228
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,568
Buildings and Equipment	228
Total	1,796
Accumulated Depreciation	(144)
140 Puuhale Road
Initial Cost to Company
Land	1,100
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	41
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,100
Buildings and Equipment	41
Total	1,141
Accumulated Depreciation	(15)
2020 Auiki Street
Initial Cost to Company
Land	2,385
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,385
Buildings and Equipment	0
Total	2,385
Accumulated Depreciation	0
2103 Kaliawa Street
Initial Cost to Company
Land	3,212
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,212
Buildings and Equipment	0
Total	3,212
Accumulated Depreciation	0
1926 Auiki Street
Initial Cost to Company
Land	2,872
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	1,722
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,872
Buildings and Equipment	1,722
Total	4,594
Accumulated Depreciation	(772)
1931 Kahai Street
Initial Cost to Company
Land	3,779
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,779
Buildings and Equipment	0
Total	3,779
Accumulated Depreciation	0
215 Puuhale Road
Initial Cost to Company
Land	2,117
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,117
Buildings and Equipment	0
Total	2,117
Accumulated Depreciation	0
207 Puuhale Road
Initial Cost to Company
Land	2,024
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,024
Buildings and Equipment	0
Total	2,024
Accumulated Depreciation	0
125 Puuhale Road
Initial Cost to Company
Land	1,630
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,630
Buildings and Equipment	0
Total	1,630
Accumulated Depreciation	0
125B Puuhale Road
Initial Cost to Company
Land	2,815
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,815
Buildings and Equipment	0
Total	2,815
Accumulated Depreciation	0
2001 Kahai Street
Initial Cost to Company
Land	1,091
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,091
Buildings and Equipment	0
Total	1,091
Accumulated Depreciation	0
2110 Auiki Street
Initial Cost to Company
Land	837
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	837
Buildings and Equipment	0
Total	837
Accumulated Depreciation	0
142 Mokauea Street
Initial Cost to Company
Land	2,182
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	1,576
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,182
Buildings and Equipment	1,576
Total	3,758
Accumulated Depreciation	(593)
2139 Kaliawa Street
Initial Cost to Company
Land	885
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	885
Buildings and Equipment	0
Total	885
Accumulated Depreciation	0
2122 Kaliawa Street
Initial Cost to Company
Land	1,365
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,365
Buildings and Equipment	0
Total	1,365
Accumulated Depreciation	0
148 Mokauea Street
Initial Cost to Company
Land	3,476
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,476
Buildings and Equipment	0
Total	3,476
Accumulated Depreciation	0
151 Puuhale Road
Initial Cost to Company
Land	1,956
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	48
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,956
Buildings and Equipment	48
Total	2,004
Accumulated Depreciation	(4)
2127 Auiki Street
Initial Cost to Company
Land	2,906
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	67
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,906
Buildings and Equipment	67
Total	2,973
Accumulated Depreciation	(42)
2144 Auiki Street
Initial Cost to Company
Land	2,640
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	7,594
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,640
Buildings and Equipment	7,594
Total	10,234
Accumulated Depreciation	(3,197)
179 Sand Island Access Road
Initial Cost to Company
Land	2,480
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,480
Buildings and Equipment	0
Total	2,480
Accumulated Depreciation	0
106 Puuhale Road
Initial Cost to Company
Land	1,113
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	302
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,113
Buildings and Equipment	302
Total	1,415
Accumulated Depreciation	(128)
120 Mokauea Street
Initial Cost to Company
Land	1,953
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	1,106
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,953
Buildings and Equipment	1,106
Total	3,059
Accumulated Depreciation	(273)
120B Mokauea Street
Initial Cost to Company
Land	1,953
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	16
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,953
Buildings and Equipment	16
Total	1,969
Accumulated Depreciation	(1)
231 Sand Island Access Road
Initial Cost to Company
Land	752
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	752
Buildings and Equipment	0
Total	752
Accumulated Depreciation	0
231B Sand Island Access Road
Initial Cost to Company
Land	1,539
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,539
Buildings and Equipment	0
Total	1,539
Accumulated Depreciation	0
220 Puuhale Road
Initial Cost to Company
Land	2,619
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,619
Buildings and Equipment	0
Total	2,619
Accumulated Depreciation	0
150 Puuhale Road
Initial Cost to Company
Land	4,887
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,887
Buildings and Equipment	0
Total	4,887
Accumulated Depreciation	0
197 Sand Island Access Road
Initial Cost to Company
Land	1,238
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,238
Buildings and Equipment	0
Total	1,238
Accumulated Depreciation	0
2019 Kahai Street
Initial Cost to Company
Land	1,377
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,377
Buildings and Equipment	0
Total	1,377
Accumulated Depreciation	0
2344 Pahounui Drive
Initial Cost to Company
Land	6,709
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	6,709
Buildings and Equipment	0
Total	6,709
Accumulated Depreciation	0
238 Sand Island Access Road
Initial Cost to Company
Land	2,273
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,273
Buildings and Equipment	0
Total	2,273
Accumulated Depreciation	0
2308 Pahounui Drive
Initial Cost to Company
Land	3,314
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,314
Buildings and Equipment	0
Total	3,314
Accumulated Depreciation	0
2135 Auiki Street
Initial Cost to Company
Land	825
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	825
Buildings and Equipment	0
Total	825
Accumulated Depreciation	0
218 Mohonua Place
Initial Cost to Company
Land	1,741
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,741
Buildings and Equipment	0
Total	1,741
Accumulated Depreciation	0
180 Sand Island Access Road
Initial Cost to Company
Land	1,655
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,655
Buildings and Equipment	0
Total	1,655
Accumulated Depreciation	0
2250 Pahounui Drive
Initial Cost to Company
Land	3,862
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,862
Buildings and Equipment	0
Total	3,862
Accumulated Depreciation	0
158 Sand Island Access Road
Initial Cost to Company
Land	2,488
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,488
Buildings and Equipment	0
Total	2,488
Accumulated Depreciation	0
2264 Pahounui Drive
Initial Cost to Company
Land	1,632
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,632
Buildings and Equipment	0
Total	1,632
Accumulated Depreciation	0
2276 Pahounui Drive
Initial Cost to Company
Land	1,619
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,619
Buildings and Equipment	0
Total	1,619
Accumulated Depreciation	0
204 Sand Island Access Road
Initial Cost to Company
Land	1,689
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,689
Buildings and Equipment	0
Total	1,689
Accumulated Depreciation	0
228 Mohonua Place
Initial Cost to Company
Land	1,865
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,865
Buildings and Equipment	0
Total	1,865
Accumulated Depreciation	0
212 Mohonua Place
Initial Cost to Company
Land	1,067
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,067
Buildings and Equipment	0
Total	1,067
Accumulated Depreciation	0
214 Sand Island Access Road
Initial Cost to Company
Land	1,864
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	593
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,864
Buildings and Equipment	593
Total	2,457
Accumulated Depreciation	(194)
2879 Paa Street
Initial Cost to Company
Land	1,691
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	45
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,691
Buildings and Equipment	45
Total	1,736
Accumulated Depreciation	(17)
2833 Paa Street
Initial Cost to Company
Land	1,701
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,701
Buildings and Equipment	0
Total	1,701
Accumulated Depreciation	0
1055 Ahua Street
Initial Cost to Company
Land	1,216
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,216
Buildings and Equipment	0
Total	1,216
Accumulated Depreciation	0
2875 Paa Street
Initial Cost to Company
Land	1,330
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,330
Buildings and Equipment	0
Total	1,330
Accumulated Depreciation	0
1000 Mapunapuna Street
Initial Cost to Company
Land	2,252
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,252
Buildings and Equipment	0
Total	2,252
Accumulated Depreciation	0
2850 Paa Street
Initial Cost to Company
Land	22,827
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	22,827
Buildings and Equipment	0
Total	22,827
Accumulated Depreciation	0
2828 Paa Street
Initial Cost to Company
Land	12,448
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	12,448
Buildings and Equipment	0
Total	12,448
Accumulated Depreciation	0
1045 Mapunapuna Street
Initial Cost to Company
Land	819
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	819
Buildings and Equipment	0
Total	819
Accumulated Depreciation	0
1122 Mapunapuna Street
Initial Cost to Company
Land	5,781
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	5,781
Buildings and Equipment	0
Total	5,781
Accumulated Depreciation	0
2810 Paa Street
Initial Cost to Company
Land	3,340
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,340
Buildings and Equipment	0
Total	3,340
Accumulated Depreciation	0
2886 Paa Street
Initial Cost to Company
Land	2,205
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,205
Buildings and Equipment	0
Total	2,205
Accumulated Depreciation	0
2810 Pukoloa Street
Initial Cost to Company
Land	27,699
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	27,699
Buildings and Equipment	0
Total	27,699
Accumulated Depreciation	0
1052 Ahua Street
Initial Cost to Company
Land	1,703
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	240
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,703
Buildings and Equipment	240
Total	1,943
Accumulated Depreciation	(110)
1024 Mapunapuna Street
Initial Cost to Company
Land	1,385
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,385
Buildings and Equipment	0
Total	1,385
Accumulated Depreciation	0
1030 Mapunapuna Street
Initial Cost to Company
Land	5,655
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	5,655
Buildings and Equipment	0
Total	5,655
Accumulated Depreciation	0
1001 Ahua Street
Initial Cost to Company
Land	15,155
Buildings and Equipment	3,312
Costs Capitalized Subsequent to Acquisition	91
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	15,155
Buildings and Equipment	3,403
Total	18,558
Accumulated Depreciation	(1,694)
944 Ahua Street
Initial Cost to Company
Land	1,219
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,219
Buildings and Equipment	0
Total	1,219
Accumulated Depreciation	0
918 Ahua Street
Initial Cost to Company
Land	3,820
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,820
Buildings and Equipment	0
Total	3,820
Accumulated Depreciation	0
2864 Mokumoa Street
Initial Cost to Company
Land	2,092
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,092
Buildings and Equipment	0
Total	2,092
Accumulated Depreciation	0
1050 Kikowaena Place
Initial Cost to Company
Land	1,404
Buildings and Equipment	873
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,404
Buildings and Equipment	873
Total	2,277
Accumulated Depreciation	(438)
949 Mapunapuna Street
Initial Cost to Company
Land	11,568
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	11,568
Buildings and Equipment	0
Total	11,568
Accumulated Depreciation	0
2855 Pukoloa Street
Initial Cost to Company
Land	1,934
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,934
Buildings and Equipment	0
Total	1,934
Accumulated Depreciation	0
2865 Pukoloa Street
Initial Cost to Company
Land	1,934
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,934
Buildings and Equipment	0
Total	1,934
Accumulated Depreciation	0
2850 Mokumoa Street
Initial Cost to Company
Land	2,143
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,143
Buildings and Equipment	0
Total	2,143
Accumulated Depreciation	0
905 Ahua Street
Initial Cost to Company
Land	1,148
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,148
Buildings and Equipment	0
Total	1,148
Accumulated Depreciation	0
1150 Kikowaena Street
Initial Cost to Company
Land	2,445
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,445
Buildings and Equipment	0
Total	2,445
Accumulated Depreciation	0
960 Ahua Street
Initial Cost to Company
Land	614
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	614
Buildings and Equipment	0
Total	614
Accumulated Depreciation	0
1062 Kikowaena Place
Initial Cost to Company
Land	1,049
Buildings and Equipment	598
Costs Capitalized Subsequent to Acquisition	183
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,049
Buildings and Equipment	781
Total	1,830
Accumulated Depreciation	(310)
2829 Pukoloa Street
Initial Cost to Company
Land	2,088
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,088
Buildings and Equipment	0
Total	2,088
Accumulated Depreciation	0
2841 Pukoloa Street
Initial Cost to Company
Land	2,088
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,088
Buildings and Equipment	0
Total	2,088
Accumulated Depreciation	0
2819 Pukoloa Street
Initial Cost to Company
Land	2,090
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	34
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,090
Buildings and Equipment	34
Total	2,124
Accumulated Depreciation	(13)
950 Mapunapuna Street
Initial Cost to Company
Land	1,724
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,724
Buildings and Equipment	0
Total	1,724
Accumulated Depreciation	0
960 Mapunapuna Street
Initial Cost to Company
Land	1,933
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,933
Buildings and Equipment	0
Total	1,933
Accumulated Depreciation	0
930 Mapunapuna Street
Initial Cost to Company
Land	3,654
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,654
Buildings and Equipment	0
Total	3,654
Accumulated Depreciation	0
1038 Kikowaena Place
Initial Cost to Company
Land	2,576
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,576
Buildings and Equipment	0
Total	2,576
Accumulated Depreciation	0
1024 Kikowaena Place
Initial Cost to Company
Land	1,818
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,818
Buildings and Equipment	0
Total	1,818
Accumulated Depreciation	0
2970 Mokumoa Street
Initial Cost to Company
Land	1,722
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,722
Buildings and Equipment	0
Total	1,722
Accumulated Depreciation	0
970 Ahua Street
Initial Cost to Company
Land	817
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	817
Buildings and Equipment	0
Total	817
Accumulated Depreciation	0
2840 Mokumoa Street
Initial Cost to Company
Land	2,149
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,149
Buildings and Equipment	0
Total	2,149
Accumulated Depreciation	0
2830 Mokumoa Street
Initial Cost to Company
Land	2,146
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,146
Buildings and Equipment	0
Total	2,146
Accumulated Depreciation	0
1027 Kikowaena Place
Initial Cost to Company
Land	5,444
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	5,444
Buildings and Equipment	0
Total	5,444
Accumulated Depreciation	0
2960 Mokumoa Street
Initial Cost to Company
Land	1,977
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,977
Buildings and Equipment	0
Total	1,977
Accumulated Depreciation	0
80 Sand Island Access Road
Initial Cost to Company
Land	7,972
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	7,972
Buildings and Equipment	0
Total	7,972
Accumulated Depreciation	0
94-240 Pupuole Street
Initial Cost to Company
Land	717
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	717
Buildings and Equipment	0
Total	717
Accumulated Depreciation	0
525 N. King Street
Initial Cost to Company
Land	1,342
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,342
Buildings and Equipment	0
Total	1,342
Accumulated Depreciation	0
1360 Pali Highway
Initial Cost to Company
Land	9,170
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	59
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	9,170
Buildings and Equipment	59
Total	9,229
Accumulated Depreciation	(51)
1330 Pali Highway
Initial Cost to Company
Land	1,423
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,423
Buildings and Equipment	0
Total	1,423
Accumulated Depreciation	0
33 S. Vineyard Boulevard
Initial Cost to Company
Land	844
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	844
Buildings and Equipment	0
Total	844
Accumulated Depreciation	0
848 Ala Lilikoi Street
Initial Cost to Company
Land	9,426
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	9,426
Buildings and Equipment	0
Total	9,426
Accumulated Depreciation	0
846 Ala Lilikoi Street
Initial Cost to Company
Land	234
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	234
Buildings and Equipment	0
Total	234
Accumulated Depreciation	0
2635 Waiwai Loop A
Initial Cost to Company
Land	934
Buildings and Equipment	350
Costs Capitalized Subsequent to Acquisition	683
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	934
Buildings and Equipment	1,033
Total	1,967
Accumulated Depreciation	(411)
2635 Waiwai Loop B
Initial Cost to Company
Land	1,177
Buildings and Equipment	105
Costs Capitalized Subsequent to Acquisition	682
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,177
Buildings and Equipment	787
Total	1,964
Accumulated Depreciation	(288)
120 Sand Island Access Road
Initial Cost to Company
Land	1,132
Buildings and Equipment	11,307
Costs Capitalized Subsequent to Acquisition	1,798
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,132
Buildings and Equipment	13,105
Total	14,237
Accumulated Depreciation	(5,957)
91-222 Olai
Initial Cost to Company
Land	2,035
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	77
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,035
Buildings and Equipment	77
Total	2,112
Accumulated Depreciation	(7)
91-265 Hanua
Initial Cost to Company
Land	1,569
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,569
Buildings and Equipment	0
Total	1,569
Accumulated Depreciation	0
91-255 Hanua
Initial Cost to Company
Land	1,230
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	35
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,230
Buildings and Equipment	35
Total	1,265
Accumulated Depreciation	(11)
91-241 Kalaeloa
Initial Cost to Company
Land	426
Buildings and Equipment	3,983
Costs Capitalized Subsequent to Acquisition	883
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	426
Buildings and Equipment	4,866
Total	5,292
Accumulated Depreciation	(2,135)
91-141 Kalaeloa
Initial Cost to Company
Land	11,624
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	11,624
Buildings and Equipment	0
Total	11,624
Accumulated Depreciation	0
91-250 Komohana
Initial Cost to Company
Land	1,506
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,506
Buildings and Equipment	0
Total	1,506
Accumulated Depreciation	0
91-202 Kalaeloa
Initial Cost to Company
Land	1,722
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	326
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,722
Buildings and Equipment	326
Total	2,048
Accumulated Depreciation	(86)
91-080 Hanua
Initial Cost to Company
Land	2,187
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,187
Buildings and Equipment	0
Total	2,187
Accumulated Depreciation	0
91-027 Kaomi Loop
Initial Cost to Company
Land	2,667
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,667
Buildings and Equipment	0
Total	2,667
Accumulated Depreciation	0
91-185 Kalaeloa
Initial Cost to Company
Land	1,761
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	81
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,761
Buildings and Equipment	81
Total	1,842
Accumulated Depreciation	(6)
91-329 Kauhi
Initial Cost to Company
Land	294
Buildings and Equipment	2,297
Costs Capitalized Subsequent to Acquisition	2,825
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	294
Buildings and Equipment	5,122
Total	5,416
Accumulated Depreciation	(2,376)
91-399 Kauhi
Initial Cost to Company
Land	27,405
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	27,405
Buildings and Equipment	0
Total	27,405
Accumulated Depreciation	0
91-086 Kaomi Loop
Initial Cost to Company
Land	13,884
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	13,884
Buildings and Equipment	0
Total	13,884
Accumulated Depreciation	0
91-349 Kauhi
Initial Cost to Company
Land	649
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	649
Buildings and Equipment	0
Total	649
Accumulated Depreciation	0
91-400 Komohana
Initial Cost to Company
Land	1,494
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,494
Buildings and Equipment	0
Total	1,494
Accumulated Depreciation	0
91-174 Olai
Initial Cost to Company
Land	962
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	47
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	962
Buildings and Equipment	47
Total	1,009
Accumulated Depreciation	(31)
91-218 Olai
Initial Cost to Company
Land	1,622
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	62
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,622
Buildings and Equipment	62
Total	1,684
Accumulated Depreciation	(38)
91-175 Olai
Initial Cost to Company
Land	1,243
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	87
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,243
Buildings and Equipment	87
Total	1,330
Accumulated Depreciation	(41)
91-210 Olai
Initial Cost to Company
Land	706
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	706
Buildings and Equipment	0
Total	706
Accumulated Depreciation	0
91-087 Hanua
Initial Cost to Company
Land	381
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	381
Buildings and Equipment	0
Total	381
Accumulated Depreciation	0
91-083 Hanua
Initial Cost to Company
Land	716
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	716
Buildings and Equipment	0
Total	716
Accumulated Depreciation	0
91-091 Hanua
Initial Cost to Company
Land	552
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	552
Buildings and Equipment	0
Total	552
Accumulated Depreciation	0
91-220 Kalaeloa
Initial Cost to Company
Land	242
Buildings and Equipment	1,457
Costs Capitalized Subsequent to Acquisition	292
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	242
Buildings and Equipment	1,749
Total	1,991
Accumulated Depreciation	(730)
91-252 Kauhi
Initial Cost to Company
Land	536
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	536
Buildings and Equipment	0
Total	536
Accumulated Depreciation	0
91-259 Olai
Initial Cost to Company
Land	2,944
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,944
Buildings and Equipment	0
Total	2,944
Accumulated Depreciation	0
91-238 Kauhi
Initial Cost to Company
Land	1,390
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	9,495
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,390
Buildings and Equipment	9,495
Total	10,885
Accumulated Depreciation	(3,855)
91-416 Komohana
Initial Cost to Company
Land	713
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	11
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	713
Buildings and Equipment	11
Total	724
Accumulated Depreciation	(7)
91-410 Komohana
Initial Cost to Company
Land	418
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	12
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	418
Buildings and Equipment	12
Total	430
Accumulated Depreciation	(7)
91-300 Hanua
Initial Cost to Company
Land	1,381
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	18
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,381
Buildings and Equipment	18
Total	1,399
Accumulated Depreciation	(3)
91-171 Olai
Initial Cost to Company
Land	218
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	13
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	218
Buildings and Equipment	13
Total	231
Accumulated Depreciation	(10)
91-210 Kauhi
Initial Cost to Company
Land	567
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	679
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	567
Buildings and Equipment	679
Total	1,246
Accumulated Depreciation	(104)
91-110 Kaomi Loop
Initial Cost to Company
Land	1,293
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,293
Buildings and Equipment	0
Total	1,293
Accumulated Depreciation	0
91-102 Kaomi Loop
Initial Cost to Company
Land	1,599
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,599
Buildings and Equipment	0
Total	1,599
Accumulated Depreciation	0
91-064 Kaomi Loop
Initial Cost to Company
Land	1,826
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,826
Buildings and Equipment	0
Total	1,826
Accumulated Depreciation	0
91-119 Olai
Initial Cost to Company
Land	1,981
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,981
Buildings and Equipment	0
Total	1,981
Accumulated Depreciation	0
91-150 Kaomi Loop
Initial Cost to Company
Land	3,159
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,159
Buildings and Equipment	0
Total	3,159
Accumulated Depreciation	0
Texaco Easement
Initial Cost to Company
Land	2,657
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,657
Buildings and Equipment	0
Total	2,657
Accumulated Depreciation	0
Tesaro 967 Easement
Initial Cost to Company
Land	6,593
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	6,593
Buildings and Equipment	0
Total	6,593
Accumulated Depreciation	0
AES HI Easement
Initial Cost to Company
Land	1,250
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,250
Buildings and Equipment	0
Total	1,250
Accumulated Depreciation	0
Other Easements & Lots
Initial Cost to Company
Land	358
Buildings and Equipment	0
Costs Capitalized Subsequent to Acquisition	1,437
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	358
Buildings and Equipment	1,437
Total	1,795
Accumulated Depreciation	(765)
889 Ahua Street
Initial Cost to Company
Land	5,888
Buildings and Equipment	315
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	5,888
Buildings and Equipment	315
Total	6,203
Accumulated Depreciation	(87)
951 Trails Road
Initial Cost to Company
Land	470
Buildings and Equipment	7,480
Costs Capitalized Subsequent to Acquisition	2,301
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	471
Buildings and Equipment	9,780
Total	10,251
Accumulated Depreciation	(3,682)
2300 North 33rd Avenue East
Initial Cost to Company
Land	500
Buildings and Equipment	13,236
Costs Capitalized Subsequent to Acquisition	58
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	500
Buildings and Equipment	13,294
Total	13,794
Accumulated Depreciation	(5,078)
3425 Maple Drive
Initial Cost to Company
Land	100
Buildings and Equipment	2,000
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	100
Buildings and Equipment	2,000
Total	2,100
Accumulated Depreciation	(270)
4401 112th Street
Initial Cost to Company
Land	800
Buildings and Equipment	3,117
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	3,117
Total	3,917
Accumulated Depreciation	(288)
7121 South Fifth Avenue
Initial Cost to Company
Land	400
Buildings and Equipment	4,201
Costs Capitalized Subsequent to Acquisition	615
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	400
Buildings and Equipment	4,816
Total	5,216
Accumulated Depreciation	(1,035)
2580 Technology Drive
Initial Cost to Company
Land	1,500
Buildings and Equipment	9,068
Costs Capitalized Subsequent to Acquisition	16
Impairment/ Writedowns	(3,053)
Gross Amount Carried at Close of Period
Land	1,067
Buildings and Equipment	6,464
Total	7,531
Accumulated Depreciation	(496)
5795 Logistics Parkway
Initial Cost to Company
Land	400
Buildings and Equipment	3,368
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(688)
Gross Amount Carried at Close of Period
Land	327
Buildings and Equipment	2,753
Total	3,080
Accumulated Depreciation	(139)
1602 Vincent Drive
Initial Cost to Company
Land	1,400
Buildings and Equipment	27,028
Costs Capitalized Subsequent to Acquisition	444
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,400
Buildings and Equipment	27,472
Total	28,872
Accumulated Depreciation	(1,482)
6 Konzen Court
Initial Cost to Company
Land	900
Buildings and Equipment	20,268
Costs Capitalized Subsequent to Acquisition	375
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	900
Buildings and Equipment	20,643
Total	21,543
Accumulated Depreciation	(1,891)
1000 Knell Road
Initial Cost to Company
Land	2,101
Buildings and Equipment	19,258
Costs Capitalized Subsequent to Acquisition	34
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,101
Buildings and Equipment	19,292
Total	21,393
Accumulated Depreciation	(1,426)
1430 South Wolf Road
Initial Cost to Company
Land	4,702
Buildings and Equipment	19,641
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,702
Buildings and Equipment	19,641
Total	24,343
Accumulated Depreciation	(1,038)
1270 North Wilkening
Initial Cost to Company
Land	2,801
Buildings and Equipment	7,733
Costs Capitalized Subsequent to Acquisition	23
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,801
Buildings and Equipment	7,756
Total	10,557
Accumulated Depreciation	(715)
4472 Technology Drive
Initial Cost to Company
Land	400
Buildings and Equipment	5,912
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	400
Buildings and Equipment	5,912
Total	6,312
Accumulated Depreciation	(365)
7019 High Grove Boulevard
Initial Cost to Company
Land	800
Buildings and Equipment	1,090
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	1,090
Total	1,890
Accumulated Depreciation	(67)
1230 West 171st Street
Initial Cost to Company
Land	800
Buildings and Equipment	1,673
Costs Capitalized Subsequent to Acquisition	266
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	1,939
Total	2,739
Accumulated Depreciation	(378)
5156 American Road
Initial Cost to Company
Land	400
Buildings and Equipment	1,529
Costs Capitalized Subsequent to Acquisition	348
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	400
Buildings and Equipment	1,877
Total	2,277
Accumulated Depreciation	(469)
9215-9347 E Pendleton Pike
Initial Cost to Company
Land	3,763
Buildings and Equipment	34,877
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,763
Buildings and Equipment	34,877
Total	38,640
Accumulated Depreciation	(4,864)
6825 West County Road 400 North
Initial Cost to Company
Land	918
Buildings and Equipment	14,300
Costs Capitalized Subsequent to Acquisition	1,009
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	918
Buildings and Equipment	15,309
Total	16,227
Accumulated Depreciation	(2,234)
900 Commerce Parkway West Drive
Initial Cost to Company
Land	1,483
Buildings and Equipment	16,253
Costs Capitalized Subsequent to Acquisition	701
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,483
Buildings and Equipment	16,954
Total	18,437
Accumulated Depreciation	(2,278)
2482 Century Drive
Initial Cost to Company
Land	840
Buildings and Equipment	9,061
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	840
Buildings and Equipment	9,061
Total	9,901
Accumulated Depreciation	(1,224)
3201 Bearing Drive
Initial Cost to Company
Land	1,100
Buildings and Equipment	15,403
Costs Capitalized Subsequent to Acquisition	(1)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,100
Buildings and Equipment	15,402
Total	16,502
Accumulated Depreciation	(2,427)
482 Chaney Avenue
Initial Cost to Company
Land	2,401
Buildings and Equipment	55,810
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,401
Buildings and Equipment	55,810
Total	58,211
Accumulated Depreciation	(3,441)
1151 South Graham Road
Initial Cost to Company
Land	7,002
Buildings and Equipment	108,700
Costs Capitalized Subsequent to Acquisition	145
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	7,002
Buildings and Equipment	108,845
Total	115,847
Accumulated Depreciation	(5,750)
5440 Haggerty Lane
Initial Cost to Company
Land	3,601
Buildings and Equipment	31,058
Costs Capitalized Subsequent to Acquisition	18
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,601
Buildings and Equipment	31,076
Total	34,677
Accumulated Depreciation	(1,644)
8951 Mirabel Road
Initial Cost to Company
Land	3,001
Buildings and Equipment	36,978
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,001
Buildings and Equipment	36,978
Total	39,979
Accumulated Depreciation	(1,955)
17001 West Mercury Street
Initial Cost to Company
Land	5,741
Buildings and Equipment	32,701
Costs Capitalized Subsequent to Acquisition	400
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	5,740
Buildings and Equipment	33,102
Total	38,842
Accumulated Depreciation	(2,505)
435 SE 70th Street
Initial Cost to Company
Land	0
Buildings and Equipment	3,563
Costs Capitalized Subsequent to Acquisition	120
Impairment/ Writedowns	(594)
Gross Amount Carried at Close of Period
Land	0
Buildings and Equipment	3,089
Total	3,089
Accumulated Depreciation	(169)
22525 West 167th Street
Initial Cost to Company
Land	4,301
Buildings and Equipment	52,183
Costs Capitalized Subsequent to Acquisition	(1)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,301
Buildings and Equipment	52,182
Total	56,483
Accumulated Depreciation	(2,758)
2552 South 98th Street
Initial Cost to Company
Land	3,601
Buildings and Equipment	20,988
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,601
Buildings and Equipment	20,988
Total	24,589
Accumulated Depreciation	(1,294)
2701 South 98th Street
Initial Cost to Company
Land	2,701
Buildings and Equipment	10,998
Costs Capitalized Subsequent to Acquisition	400
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,701
Buildings and Equipment	11,398
Total	14,099
Accumulated Depreciation	(824)
1985 International Way
Initial Cost to Company
Land	1,453
Buildings and Equipment	8,546
Costs Capitalized Subsequent to Acquisition	1,621
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,453
Buildings and Equipment	10,167
Total	11,620
Accumulated Depreciation	(1,725)
2311 South Park Road
Initial Cost to Company
Land	1,600
Buildings and Equipment	13,119
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,600
Buildings and Equipment	13,119
Total	14,719
Accumulated Depreciation	(692)
1509 Leestown Road
Initial Cost to Company
Land	4,801
Buildings and Equipment	38,708
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,801
Buildings and Equipment	38,708
Total	43,509
Accumulated Depreciation	(2,388)
4555 West Highway 146
Initial Cost to Company
Land	3,201
Buildings and Equipment	39,977
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,201
Buildings and Equipment	39,977
Total	43,178
Accumulated Depreciation	(2,465)
450 Northpointe Court
Initial Cost to Company
Land	1,300
Buildings and Equipment	26,883
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,300
Buildings and Equipment	26,883
Total	28,183
Accumulated Depreciation	(1,421)
209 South Bud Street
Initial Cost to Company
Land	700
Buildings and Equipment	4,549
Costs Capitalized Subsequent to Acquisition	42
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	701
Buildings and Equipment	4,590
Total	5,291
Accumulated Depreciation	(1,026)
17200 Manchac Park Lane
Initial Cost to Company
Land	1,700
Buildings and Equipment	8,860
Costs Capitalized Subsequent to Acquisition	151
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,700
Buildings and Equipment	9,011
Total	10,711
Accumulated Depreciation	(1,975)
11900 Trolley Lane
Initial Cost to Company
Land	8,203
Buildings and Equipment	23,095
Costs Capitalized Subsequent to Acquisition	179
Impairment/ Writedowns	(1,243)
Gross Amount Carried at Close of Period
Land	7,877
Buildings and Equipment	22,357
Total	30,234
Accumulated Depreciation	(1,124)
4000 Principio Parkway
Initial Cost to Company
Land	4,200
Buildings and Equipment	71,518
Costs Capitalized Subsequent to Acquisition	847
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,200
Buildings and Equipment	72,365
Total	76,565
Accumulated Depreciation	(16,113)
3466 Shippers Drive
Initial Cost to Company
Land	4,902
Buildings and Equipment	29,780
Costs Capitalized Subsequent to Acquisition	144
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,902
Buildings and Equipment	29,924
Total	34,826
Accumulated Depreciation	(1,580)
1601 Brown Road
Initial Cost to Company
Land	4,701
Buildings and Equipment	57,812
Costs Capitalized Subsequent to Acquisition	721
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,701
Buildings and Equipment	58,533
Total	63,234
Accumulated Depreciation	(3,178)
38401 Amrhein Road
Initial Cost to Company
Land	1,400
Buildings and Equipment	14,778
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,400
Buildings and Equipment	14,778
Total	16,178
Accumulated Depreciation	(911)
28000 Five M Center Drive
Initial Cost to Company
Land	300
Buildings and Equipment	8,530
Costs Capitalized Subsequent to Acquisition	182
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	300
Buildings and Equipment	8,712
Total	9,012
Accumulated Depreciation	(553)
3800 Midlink Drive
Initial Cost to Company
Land	2,630
Buildings and Equipment	40,599
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,630
Buildings and Equipment	40,599
Total	43,229
Accumulated Depreciation	(9,051)
10100 89th Avenue N
Initial Cost to Company
Land	3,469
Buildings and Equipment	21,284
Costs Capitalized Subsequent to Acquisition	868
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,469
Buildings and Equipment	22,152
Total	25,621
Accumulated Depreciation	(3,271)
2427 Henry Road NW
Initial Cost to Company
Land	1,300
Buildings and Equipment	3,145
Costs Capitalized Subsequent to Acquisition	13
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,300
Buildings and Equipment	3,158
Total	4,458
Accumulated Depreciation	(195)
2401 Cram Avenue SE
Initial Cost to Company
Land	100
Buildings and Equipment	2,137
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	100
Buildings and Equipment	2,137
Total	2,237
Accumulated Depreciation	(476)
5501 Providence Hill Drive
Initial Cost to Company
Land	400
Buildings and Equipment	3,500
Costs Capitalized Subsequent to Acquisition	24
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	400
Buildings and Equipment	3,524
Total	3,924
Accumulated Depreciation	(487)
3502 Enterprise Avenue
Initial Cost to Company
Land	1,380
Buildings and Equipment	12,121
Costs Capitalized Subsequent to Acquisition	34
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,380
Buildings and Equipment	12,155
Total	13,535
Accumulated Depreciation	(1,636)
5703 Mitchell Avenue
Initial Cost to Company
Land	1,600
Buildings and Equipment	19,085
Costs Capitalized Subsequent to Acquisition	438
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,600
Buildings and Equipment	19,523
Total	21,123
Accumulated Depreciation	(1,823)
10551 N Congress Avenue
Initial Cost to Company
Land	600
Buildings and Equipment	13,538
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	600
Buildings and Equipment	13,538
Total	14,138
Accumulated Depreciation	(716)
831 Lone Star Drive
Initial Cost to Company
Land	1,200
Buildings and Equipment	7,304
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,200
Buildings and Equipment	7,304
Total	8,504
Accumulated Depreciation	(541)
2901 E Heartland Drive
Initial Cost to Company
Land	1,100
Buildings and Equipment	6,886
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,100
Buildings and Equipment	6,886
Total	7,986
Accumulated Depreciation	(511)
110 Stanbury Industrial Drive
Initial Cost to Company
Land	200
Buildings and Equipment	1,859
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(546)
Gross Amount Carried at Close of Period
Land	183
Buildings and Equipment	1,330
Total	1,513
Accumulated Depreciation	3
12385 Crossroad Drive
Initial Cost to Company
Land	3,301
Buildings and Equipment	61,763
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,301
Buildings and Equipment	61,763
Total	65,064
Accumulated Depreciation	(3,810)
8644 Polk Lane
Initial Cost to Company
Land	900
Buildings and Equipment	20,171
Costs Capitalized Subsequent to Acquisition	318
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	901
Buildings and Equipment	20,488
Total	21,389
Accumulated Depreciation	(1,115)
440 US Highway 49 South
Initial Cost to Company
Land	200
Buildings and Equipment	2,329
Costs Capitalized Subsequent to Acquisition	3
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	200
Buildings and Equipment	2,332
Total	2,532
Accumulated Depreciation	(216)
105 Business Park Drive
Initial Cost to Company
Land	500
Buildings and Equipment	1,949
Costs Capitalized Subsequent to Acquisition	8
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	500
Buildings and Equipment	1,957
Total	2,457
Accumulated Depreciation	(179)
590 Assembly Court
Initial Cost to Company
Land	700
Buildings and Equipment	9,410
Costs Capitalized Subsequent to Acquisition	1
Impairment/ Writedowns	(2,328)
Gross Amount Carried at Close of Period
Land	540
Buildings and Equipment	7,243
Total	7,783
Accumulated Depreciation	(441)
4350 Fortune Ave NW
Initial Cost to Company
Land	4,401
Buildings and Equipment	53,085
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,401
Buildings and Equipment	53,085
Total	57,486
Accumulated Depreciation	(2,806)
4690 Global Avenue NW
Initial Cost to Company
Land	4,601
Buildings and Equipment	45,793
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,601
Buildings and Equipment	45,793
Total	50,394
Accumulated Depreciation	(2,420)
6538 & 6526 Judge Adams Road
Initial Cost to Company
Land	2,501
Buildings and Equipment	46,343
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,501
Buildings and Equipment	46,343
Total	48,844
Accumulated Depreciation	(2,450)
4040 Business Park Court
Initial Cost to Company
Land	800
Buildings and Equipment	8,411
Costs Capitalized Subsequent to Acquisition	260
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	8,671
Total	9,471
Accumulated Depreciation	(530)
3900 NE 6th Street
Initial Cost to Company
Land	700
Buildings and Equipment	3,223
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	700
Buildings and Equipment	3,223
Total	3,923
Accumulated Depreciation	(719)
7130 Q Street
Initial Cost to Company
Land	1,600
Buildings and Equipment	7,390
Costs Capitalized Subsequent to Acquisition	1
Impairment/ Writedowns	(2,138)
Gross Amount Carried at Close of Period
Land	1,220
Buildings and Equipment	5,633
Total	6,853
Accumulated Depreciation	(343)
1415 West Commerce Way
Initial Cost to Company
Land	2,200
Buildings and Equipment	8,518
Costs Capitalized Subsequent to Acquisition	388
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,200
Buildings and Equipment	8,906
Total	11,106
Accumulated Depreciation	(2,035)
52 Pettengill Road
Initial Cost to Company
Land	5,871
Buildings and Equipment	43,335
Costs Capitalized Subsequent to Acquisition	7
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	5,871
Buildings and Equipment	43,342
Total	49,213
Accumulated Depreciation	(5,857)
1135 Easton Avenue
Initial Cost to Company
Land	3,601
Buildings and Equipment	5,564
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,601
Buildings and Equipment	5,564
Total	9,165
Accumulated Depreciation	(515)
584 US Highway 130
Initial Cost to Company
Land	70,422
Buildings and Equipment	62,639
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	70,422
Buildings and Equipment	62,639
Total	133,061
Accumulated Depreciation	(3,311)
725 Darlington Avenue
Initial Cost to Company
Land	8,492
Buildings and Equipment	9,451
Costs Capitalized Subsequent to Acquisition	1,877
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	8,492
Buildings and Equipment	11,328
Total	19,820
Accumulated Depreciation	(2,903)
309 Dulty's Lane
Initial Cost to Company
Land	1,600
Buildings and Equipment	51,400
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,600
Buildings and Equipment	51,400
Total	53,000
Accumulated Depreciation	(11,458)
7000 West Post Road
Initial Cost to Company
Land	4,230
Buildings and Equipment	13,472
Costs Capitalized Subsequent to Acquisition	246
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,230
Buildings and Equipment	13,718
Total	17,948
Accumulated Depreciation	(2,212)
2375 East Newlands Road
Initial Cost to Company
Land	1,100
Buildings and Equipment	17,314
Costs Capitalized Subsequent to Acquisition	286
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,100
Buildings and Equipment	17,600
Total	18,700
Accumulated Depreciation	(3,970)
158 West Yard Road
Initial Cost to Company
Land	1,870
Buildings and Equipment	7,931
Costs Capitalized Subsequent to Acquisition	477
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,869
Buildings and Equipment	8,409
Total	10,278
Accumulated Depreciation	(1,882)
3779 Lake Shore Road
Initial Cost to Company
Land	2,701
Buildings and Equipment	38,186
Costs Capitalized Subsequent to Acquisition	30
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,701
Buildings and Equipment	38,216
Total	40,917
Accumulated Depreciation	(2,021)
1289 Walden Avenue
Initial Cost to Company
Land	600
Buildings and Equipment	6,314
Costs Capitalized Subsequent to Acquisition	390
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	600
Buildings and Equipment	6,704
Total	7,304
Accumulated Depreciation	(618)
4 Liebich Lane
Initial Cost to Company
Land	400
Buildings and Equipment	8,521
Costs Capitalized Subsequent to Acquisition	13
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	400
Buildings and Equipment	8,534
Total	8,934
Accumulated Depreciation	(450)
55 Commerce Avenue
Initial Cost to Company
Land	1,000
Buildings and Equipment	10,105
Costs Capitalized Subsequent to Acquisition	492
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,000
Buildings and Equipment	10,597
Total	11,597
Accumulated Depreciation	(2,321)
32150 Just Imagine Drive
Initial Cost to Company
Land	2,200
Buildings and Equipment	23,280
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,200
Buildings and Equipment	23,280
Total	25,480
Accumulated Depreciation	(8,488)
1580, 1590 & 1600 Williams Road
Initial Cost to Company
Land	2,060
Buildings and Equipment	29,143
Costs Capitalized Subsequent to Acquisition	361
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,060
Buildings and Equipment	29,504
Total	31,564
Accumulated Depreciation	(4,593)
7303 Rickenbacker Parkway West
Initial Cost to Company
Land	1,491
Buildings and Equipment	27,407
Costs Capitalized Subsequent to Acquisition	3
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,494
Buildings and Equipment	27,407
Total	28,901
Accumulated Depreciation	(1,979)
3245 Henry Road and 3185 Columbia Road
Initial Cost to Company
Land	2,499
Buildings and Equipment	21,640
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,499
Buildings and Equipment	21,640
Total	24,139
Accumulated Depreciation	(1,333)
8341 Industrial Parkway
Initial Cost to Company
Land	6,702
Buildings and Equipment	97,563
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	6,702
Buildings and Equipment	97,563
Total	104,265
Accumulated Depreciation	(5,157)
201 Exploration Drive
Initial Cost to Company
Land	1,801
Buildings and Equipment	38,868
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	38,868
Total	40,669
Accumulated Depreciation	(2,054)
9780 Mopar Drive
Initial Cost to Company
Land	2,701
Buildings and Equipment	26,021
Costs Capitalized Subsequent to Acquisition	736
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,701
Buildings and Equipment	26,757
Total	29,458
Accumulated Depreciation	(1,702)
2465 Fontaine Street
Initial Cost to Company
Land	1,000
Buildings and Equipment	19,323
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,000
Buildings and Equipment	19,323
Total	20,323
Accumulated Depreciation	(1,021)
4651 Prosper Drive
Initial Cost to Company
Land	1,400
Buildings and Equipment	30,772
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,400
Buildings and Equipment	30,772
Total	32,172
Accumulated Depreciation	(1,627)
747 Mill Park Drive
Initial Cost to Company
Land	1,400
Buildings and Equipment	17,609
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,400
Buildings and Equipment	17,609
Total	19,009
Accumulated Depreciation	(931)
9667 Inter-Ocean Drive
Initial Cost to Company
Land	1,300
Buildings and Equipment	10,880
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,300
Buildings and Equipment	10,880
Total	12,180
Accumulated Depreciation	(805)
5313 Majestic Parkway
Initial Cost to Company
Land	1,100
Buildings and Equipment	8,107
Costs Capitalized Subsequent to Acquisition	138
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,100
Buildings and Equipment	8,245
Total	9,345
Accumulated Depreciation	(755)
1115 Regina Graeter Way
Initial Cost to Company
Land	700
Buildings and Equipment	7,908
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	700
Buildings and Equipment	7,908
Total	8,608
Accumulated Depreciation	(418)
4170 Columbia Road
Initial Cost to Company
Land	400
Buildings and Equipment	9,841
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	400
Buildings and Equipment	9,841
Total	10,241
Accumulated Depreciation	(520)
1415 Industrial Drive
Initial Cost to Company
Land	1,200
Buildings and Equipment	3,265
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,200
Buildings and Equipment	3,265
Total	4,465
Accumulated Depreciation	(728)
200 Orange Point Drive
Initial Cost to Company
Land	1,300
Buildings and Equipment	8,613
Costs Capitalized Subsequent to Acquisition	162
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,300
Buildings and Equipment	8,775
Total	10,075
Accumulated Depreciation	(2,007)
301 Commerce Drive
Initial Cost to Company
Land	600
Buildings and Equipment	4,530
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	600
Buildings and Equipment	4,530
Total	5,130
Accumulated Depreciation	(1,010)
5300 Centerpoint Parkway
Initial Cost to Company
Land	2,700
Buildings and Equipment	29,863
Costs Capitalized Subsequent to Acquisition	344
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,700
Buildings and Equipment	30,207
Total	32,907
Accumulated Depreciation	(6,691)
2701 S.W. 18TH Street
Initial Cost to Company
Land	2,401
Buildings and Equipment	18,865
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(5,675)
Gross Amount Carried at Close of Period
Land	1,761
Buildings and Equipment	13,830
Total	15,591
Accumulated Depreciation	(599)
8000 Mid America Blvd.
Initial Cost to Company
Land	900
Buildings and Equipment	12,813
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(1,814)
Gross Amount Carried at Close of Period
Land	781
Buildings and Equipment	11,118
Total	11,899
Accumulated Depreciation	(562)
1414 South Council Road
Initial Cost to Company
Land	5,002
Buildings and Equipment	39,952
Costs Capitalized Subsequent to Acquisition	12
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	5,002
Buildings and Equipment	39,964
Total	44,966
Accumulated Depreciation	(2,112)
6101 SW 44th Street
Initial Cost to Company
Land	2,401
Buildings and Equipment	13,868
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,401
Buildings and Equipment	13,868
Total	16,269
Accumulated Depreciation	(733)
2759 North Garnett Road
Initial Cost to Company
Land	800
Buildings and Equipment	4,879
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	4,879
Total	5,679
Accumulated Depreciation	(258)
2820 State Highway 31
Initial Cost to Company
Land	581
Buildings and Equipment	2,237
Costs Capitalized Subsequent to Acquisition	4,582
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	581
Buildings and Equipment	6,819
Total	7,400
Accumulated Depreciation	(1,220)
1729 Pennsylvania Avenue
Initial Cost to Company
Land	1,200
Buildings and Equipment	13,257
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(2,173)
Gross Amount Carried at Close of Period
Land	1,020
Buildings and Equipment	11,264
Total	12,284
Accumulated Depreciation	(1,153)
101 North Campus Drive
Initial Cost to Company
Land	3,801
Buildings and Equipment	26,700
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,801
Buildings and Equipment	26,700
Total	30,501
Accumulated Depreciation	(1,411)
231 Theater Drive
Initial Cost to Company
Land	1,400
Buildings and Equipment	9,864
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,400
Buildings and Equipment	9,864
Total	11,264
Accumulated Depreciation	(608)
700 Marine Drive
Initial Cost to Company
Land	820
Buildings and Equipment	8,381
Costs Capitalized Subsequent to Acquisition	798
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	820
Buildings and Equipment	9,179
Total	9,999
Accumulated Depreciation	(1,468)
1990 Hood Road
Initial Cost to Company
Land	400
Buildings and Equipment	10,702
Costs Capitalized Subsequent to Acquisition	(1)
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	400
Buildings and Equipment	10,701
Total	11,101
Accumulated Depreciation	(1,446)
7410 Magi Drive
Initial Cost to Company
Land	2,401
Buildings and Equipment	31,029
Costs Capitalized Subsequent to Acquisition	197
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,401
Buildings and Equipment	31,226
Total	33,627
Accumulated Depreciation	(2,295)
6850 Weber Boulevard
Initial Cost to Company
Land	11,604
Buildings and Equipment	44,602
Costs Capitalized Subsequent to Acquisition	(2)
Impairment/ Writedowns	(12,228)
Gross Amount Carried at Close of Period
Land	9,077
Buildings and Equipment	34,899
Total	43,976
Accumulated Depreciation	(1,510)
1892 Anfield Road
Initial Cost to Company
Land	4,001
Buildings and Equipment	21,179
Costs Capitalized Subsequent to Acquisition	1
Impairment/ Writedowns	(3,822)
Gross Amount Carried at Close of Period
Land	3,394
Buildings and Equipment	17,965
Total	21,359
Accumulated Depreciation	(778)
7409 Magi Drive
Initial Cost to Company
Land	1,801
Buildings and Equipment	13,651
Costs Capitalized Subsequent to Acquisition	12
Impairment/ Writedowns	(1,389)
Gross Amount Carried at Close of Period
Land	1,640
Buildings and Equipment	12,435
Total	14,075
Accumulated Depreciation	(628)
1103 Powderhouse Road SE
Initial Cost to Company
Land	1,200
Buildings and Equipment	36,140
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,200
Buildings and Equipment	36,140
Total	37,340
Accumulated Depreciation	(1,910)
3058 Lakemont Blvd
Initial Cost to Company
Land	2,901
Buildings and Equipment	33,304
Costs Capitalized Subsequent to Acquisition	20
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,901
Buildings and Equipment	33,324
Total	36,225
Accumulated Depreciation	(1,763)
510 John Dodd Road
Initial Cost to Company
Land	3,300
Buildings and Equipment	57,998
Costs Capitalized Subsequent to Acquisition	418
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,300
Buildings and Equipment	58,416
Total	61,716
Accumulated Depreciation	(13,022)
996 Paragon Way
Initial Cost to Company
Land	2,334
Buildings and Equipment	35,920
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,334
Buildings and Equipment	35,920
Total	38,254
Accumulated Depreciation	(8,008)
5001 West Delbridge Street
Initial Cost to Company
Land	2,570
Buildings and Equipment	14,832
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,570
Buildings and Equipment	14,832
Total	17,402
Accumulated Depreciation	(2,003)
5025 Tuggle Road
Initial Cost to Company
Land	1,400
Buildings and Equipment	31,520
Costs Capitalized Subsequent to Acquisition	56
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,400
Buildings and Equipment	31,576
Total	32,976
Accumulated Depreciation	(1,947)
900 Hutchinson Place
Initial Cost to Company
Land	2,601
Buildings and Equipment	31,582
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,601
Buildings and Equipment	31,582
Total	34,183
Accumulated Depreciation	(2,921)
6023 Century Oaks Drive
Initial Cost to Company
Land	500
Buildings and Equipment	5,759
Costs Capitalized Subsequent to Acquisition	214
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	500
Buildings and Equipment	5,973
Total	6,473
Accumulated Depreciation	(561)
3774 Snyder Road
Initial Cost to Company
Land	3,201
Buildings and Equipment	30,564
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	3,201
Buildings and Equipment	30,564
Total	33,765
Accumulated Depreciation	(1,616)
4836 Hickory Hill Road
Initial Cost to Company
Land	1,402
Buildings and Equipment	10,769
Costs Capitalized Subsequent to Acquisition	1,632
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,402
Buildings and Equipment	12,401
Total	13,803
Accumulated Depreciation	(2,895)
2020 Joe B. Jackson Parkway
Initial Cost to Company
Land	7,500
Buildings and Equipment	55,259
Costs Capitalized Subsequent to Acquisition	300
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	7,500
Buildings and Equipment	55,559
Total	63,059
Accumulated Depreciation	(12,398)
11501 Wilkinson Drive
Initial Cost to Company
Land	2,401
Buildings and Equipment	19,665
Costs Capitalized Subsequent to Acquisition	(1)
Impairment/ Writedowns	(2,259)
Gross Amount Carried at Close of Period
Land	2,155
Buildings and Equipment	17,651
Total	19,806
Accumulated Depreciation	(1,074)
5005 Samuell Blvd.
Initial Cost to Company
Land	6,366
Buildings and Equipment	62,879
Costs Capitalized Subsequent to Acquisition	2,291
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	6,366
Buildings and Equipment	65,170
Total	71,536
Accumulated Depreciation	(3,468)
2701 Texas Longhorn Way
Initial Cost to Company
Land	9,303
Buildings and Equipment	42,504
Costs Capitalized Subsequent to Acquisition	524
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	9,303
Buildings and Equipment	43,028
Total	52,331
Accumulated Depreciation	(2,247)
2000 Luna Road
Initial Cost to Company
Land	1,801
Buildings and Equipment	25,816
Costs Capitalized Subsequent to Acquisition	31
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	25,847
Total	27,648
Accumulated Depreciation	(1,595)
21200 Spring Plaza Drive
Initial Cost to Company
Land	2,701
Buildings and Equipment	29,832
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,701
Buildings and Equipment	29,832
Total	32,533
Accumulated Depreciation	(1,840)
502 West Independence Drive
Initial Cost to Company
Land	800
Buildings and Equipment	19,673
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	19,673
Total	20,473
Accumulated Depreciation	(1,040)
800 Lindale Industrial Parkway
Initial Cost to Company
Land	800
Buildings and Equipment	18,947
Costs Capitalized Subsequent to Acquisition	692
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	19,639
Total	20,439
Accumulated Depreciation	(1,123)
685 Alliance Parkway
Initial Cost to Company
Land	800
Buildings and Equipment	23,207
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	800
Buildings and Equipment	23,207
Total	24,007
Accumulated Depreciation	(1,431)
16211 Air Center Boulevard
Initial Cost to Company
Land	1,600
Buildings and Equipment	13,529
Costs Capitalized Subsequent to Acquisition	121
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,600
Buildings and Equipment	13,650
Total	15,250
Accumulated Depreciation	(721)
246 Glasson Drive
Initial Cost to Company
Land	0
Buildings and Equipment	9,596
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	0
Buildings and Equipment	9,596
Total	9,596
Accumulated Depreciation	(507)
985 Kershaw Street
Initial Cost to Company
Land	2,301
Buildings and Equipment	13,994
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(1,903)
Gross Amount Carried at Close of Period
Land	2,032
Buildings and Equipment	12,360
Total	14,392
Accumulated Depreciation	(535)
1095 South 4800 West
Initial Cost to Company
Land	1,500
Buildings and Equipment	6,913
Costs Capitalized Subsequent to Acquisition	20
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,500
Buildings and Equipment	6,933
Total	8,433
Accumulated Depreciation	(1,550)
8800 Studley Road
Initial Cost to Company
Land	1,100
Buildings and Equipment	10,813
Costs Capitalized Subsequent to Acquisition	58
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,100
Buildings and Equipment	10,871
Total	11,971
Accumulated Depreciation	(1,005)
1935 Blue Hills Drive
Initial Cost to Company
Land	1,300
Buildings and Equipment	13,908
Costs Capitalized Subsequent to Acquisition	39
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,300
Buildings and Equipment	13,947
Total	15,247
Accumulated Depreciation	(859)
3736 Tom Andrews Road
Initial Cost to Company
Land	600
Buildings and Equipment	9,273
Costs Capitalized Subsequent to Acquisition	46
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	600
Buildings and Equipment	9,319
Total	9,919
Accumulated Depreciation	(573)
2300 Westmoreland Street
Initial Cost to Company
Land	600
Buildings and Equipment	6,109
Costs Capitalized Subsequent to Acquisition	51
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	600
Buildings and Equipment	6,160
Total	6,760
Accumulated Depreciation	(455)
1122 Stony Ridge Road
Initial Cost to Company
Land	2,101
Buildings and Equipment	6,051
Costs Capitalized Subsequent to Acquisition	233
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	2,101
Buildings and Equipment	6,284
Total	8,385
Accumulated Depreciation	(321)
1901 Meadowville Technology Parkway
Initial Cost to Company
Land	4,000
Buildings and Equipment	67,511
Costs Capitalized Subsequent to Acquisition	171
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	4,001
Buildings and Equipment	67,681
Total	71,682
Accumulated Depreciation	(15,088)
635 Community Drive
Initial Cost to Company
Land	10,003
Buildings and Equipment	38,560
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	10,003
Buildings and Equipment	38,560
Total	48,563
Accumulated Depreciation	(2,038)
2000 South Walnut Street
Initial Cost to Company
Land	8,603
Buildings and Equipment	22,749
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	(1,218)
Gross Amount Carried at Close of Period
Land	7,384
Buildings and Equipment	22,750
Total	30,134
Accumulated Depreciation	(1,202)
5300 International Drive
Initial Cost to Company
Land	1,801
Buildings and Equipment	17,367
Costs Capitalized Subsequent to Acquisition	37
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	1,801
Buildings and Equipment	17,404
Total	19,205
Accumulated Depreciation	(922)
3383 Spirit Way
Initial Cost to Company
Land	600
Buildings and Equipment	9,345
Costs Capitalized Subsequent to Acquisition	0
Impairment/ Writedowns	0
Gross Amount Carried at Close of Period
Land	600
Buildings and Equipment	9,345
Total	9,945
Accumulated Depreciation	$ (494)

SCHEDULE III - REAL ESTATE AN_3

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Analysis of Carrying Amount And Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate Properties
Balance at the beginning of the period	$ 5,176,108	$ 1,748,833	$ 1,809,070
Additions	18,181	3,520,563	129,724
Disposals	(24,190)	(259)	(189,961)
Impairments	(547)	(93,029)
Balance at the end of the period	5,169,552	5,176,108	1,748,833
Accumulated Depreciation
Balance at the beginning of the period	(273,467)	(167,490)	(141,406)
Additions	(125,262)	(106,236)	(32,389)
Disposals	884	259	6,305
Impairments	391	0
Balance at the end of the period	$ (397,454)	$ (273,467)	$ (167,490)