LXP Industrial Trust (LXP) 10-K 24 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 22, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period Ended Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-12386
Entity Registrant Name	LXP INDUSTRIAL TRUST
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	13-3717318
Entity Address, Address Line One	One Penn Plaza
Entity Address, Address Line Two	Suite 4015
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10119-4015
City Area Code	212
Local Phone Number	692-7200
Entity Well-known Seasoned User	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 3,249,694,342
Entity Common Stock, Shares Outstanding (in shares)		285,653,041
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Certain information contained in the Definitive Proxy Statement for LXP Industrial Trust's Annual Meeting of Shareholders, or an amendment on Form 10-K/A, is incorporated by reference in this Annual Report on Form 10-K in response to Part III, Items 10, 11, 12, 13 and 14, which will be filed with the Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K.
Entity Central Index Key	0000910108
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Shares of beneficial interest, par value $0.0001 per share, classified as Common Stock
Trading Symbol	LXP
Security Exchange Name	NYSE
Series C
Document Information [Line Items]
Title of 12(b) Security	6.50% Series C Cumulative Convertible Preferred Stock, par value $0.0001 per share
Trading Symbol	LXPPRC
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	New York, New York
Auditor Firm ID	34

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Real estate, at cost	$ 3,583,978	$ 3,514,564
Real estate - intangible assets	341,403	409,293
Land held for development	104,160	0
Investments in real estate under construction	161,165	75,906
Real estate, gross	4,190,706	3,999,763
Less: accumulated depreciation and amortization	655,740	884,465
Real estate, net	3,534,966	3,115,298
Assets held for sale	82,586	16,530
Right-of-use assets, net	27,966	31,423
Cash and cash equivalents	190,926	178,795
Restricted cash	101	626
Investments in non-consolidated entities	74,559	56,464
Deferred expenses (net of accumulated amortization of $18,356 in 2021 and $23,171 in 2020)	18,861	15,901
Rent receivable - current	3,526	2,899
Rent receivable - deferred	63,283	66,959
Other assets	8,784	8,331
Total assets	4,005,558	3,493,226
Liabilities:
Mortgages and notes payable, net	83,092	136,529
Term loan payable, net	298,446	297,943
Senior notes payable, net	987,931	779,275
Trust preferred securities, net	127,595	127,495
Dividends payable	37,425	35,401
Liabilities held for sale	3,468	790
Operating lease liabilities	29,094	32,515
Accounts payable and other liabilities	77,607	55,208
Accrued interest payable	8,481	6,334
Deferred revenue - including below market leases (net of accumulated accretion of $14,258 in 2021 and $12,758 in 2020)	14,474	17,264
Prepaid rent	14,717	13,335
Total liabilities	1,682,330	1,502,089
Commitments and contingencies
Equity:
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares, Series C Cumulative Convertible Preferred, liquidation preference $96,770 and 1,935,400 shares issued and outstanding	94,016	94,016
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 283,752,726 and 277,152,450 shares issued and outstanding in 2021 and 2020, respectively	28	28
Additional paid-in-capital	3,252,506	3,196,315
Accumulated distributions in excess of net income	(1,049,434)	(1,301,726)
Accumulated other comprehensive loss	(6,258)	(17,963)
Total shareholders’ equity	2,290,858	1,970,670
Noncontrolling interests	32,370	20,467
Total equity	2,323,228	1,991,137
Total liabilities and equity	$ 4,005,558	$ 3,493,226

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Accumulated amortization on deferred expenses	$ 18,356	$ 23,171
Liabilities:
Accumulated accretion on deferred revenue	$ 14,258	$ 12,758
Equity:
Preferred shares, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred shares, authorized shares (in shares)	100,000,000	100,000,000
Preferred shares, liquidation preference	$ 96,770	$ 96,770
Preferred shares, convertible preferred, shares issued (in shares)	1,935,400	1,935,400
Preferred shares, redeemable preferred, shares outstanding (in shares)	1,935,400	1,935,400
Common shares, par value (usd per share)	$ 0.0001	$ 0.0001
Common shares, authorized shares (in shares)	400,000,000	400,000,000
Common shares, shares issued (in shares)	283,752,726	277,152,450
Common shares, shares outstanding (in shares)	283,752,726	277,152,450

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gross revenues:
Rental revenue	$ 339,944	$ 325,811	$ 320,622
Total gross revenues	343,997	330,448	325,969
Expense applicable to revenues:
Depreciation and amortization	(176,714)	(161,592)	(147,594)
General and administrative	(35,458)	(30,371)	(30,785)
Non-operating income	1,364	743	2,262
Interest and amortization expense	(46,708)	(55,201)	(65,095)
Debt satisfaction gains (losses), net	(13,894)	21,452	(4,517)
Impairment charges	(5,541)	(14,460)	(5,329)
Gains on sales of properties	367,274	139,039	250,889
Income (loss) before provision for income taxes and equity in earnings of non-consolidated entities	386,574	188,144	283,782
Provision for income taxes	(1,293)	(1,584)	(1,379)
Equity in earnings (losses) of non-consolidated entities	(190)	(169)	2,890
Net income	385,091	186,391	285,293
Less net income attributable to noncontrolling interests	(2,443)	(3,089)	(5,383)
Net income attributable to LXP Industrial Trust shareholders	382,648	183,302	279,910
Dividends attributable to preferred shares - Series C	(6,290)	(6,290)	(6,290)
Allocation to participating securities	(510)	(224)	(395)
Net income attributable to common shareholders	$ 375,848	$ 176,788	$ 273,225
Net income attributable to common shareholders - basic (usd per share)	$ 1.35	$ 0.66	$ 1.15
Weighted-average common shares outstanding - basic (in shares)	277,640,835	266,914,843	237,642,048
Net income attributable to common shareholders - diluted (usd per share)	$ 1.34	$ 0.66	$ 1.15
Weighted-average common shares outstanding - diluted (in shares)	287,369,742	268,182,552	237,934,515
Other
Gross revenues:
Other revenue	$ 4,053	$ 4,637	$ 5,347
Real Estate
Expense applicable to revenues:
Property operating	$ (47,746)	$ (41,914)	$ (42,018)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 385,091	$ 186,391	$ 285,293
Other comprehensive income (loss):
Change in unrealized income (loss) on interest rate swaps, net	11,705	(16,035)	(2,004)
Other comprehensive income (loss)	11,705	(16,035)	(2,004)
Comprehensive income	396,796	170,356	283,289
Comprehensive income attributable to noncontrolling interests	(2,443)	(3,089)	(5,383)
Comprehensive income attributable to LXP Industrial Trust shareholders	$ 394,353	$ 167,267	$ 277,906

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Additional Paid-in-Capital	Accumulated Distributions in Excess of Net Income	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2018	$ 1,346,678	$ 94,016	$ 24	$ 2,772,855	$ (1,537,100)	$ 76	$ 16,807
Beginning balance (in shares) at Dec. 31, 2018		1,935,400	235,008,554
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	867						867
Redemption of noncontrolling OP units for common (in shares)			391,993
Redemption of noncontrolling OP units for common shares				1,655			(1,655)
Issuance of common shares and deferred compensation amortization, net	209,373		$ 2	209,371
Issuance of common shares and deferred compensation amortization, net (in shares)			20,579,745
Repurchase of common shares	(958)			(958)
Repurchase of common shares (in shares)			(441,581)
Repurchase of common shares to settle tax obligations	(5,281)		$ (1)	(5,280)
Repurchase of common shares to settle tax obligations (in shares)			(712,430)
Forfeiture of employee common shares	15			0	15
Forfeiture of employee common shares (in shares)			(55,562)
Dividends/distributions	(109,264)				(106,501)		(2,763)
Net Income	285,293				279,910		5,383
Reallocation of noncontrolling interests				(973)			973
Other comprehensive loss	(2,004)					(2,004)
Balance at end of period at Dec. 31, 2019	1,724,719	$ 94,016	$ 25	2,976,670	(1,363,676)	(1,928)	19,612
Ending balance (in shares) at Dec. 31, 2019		1,935,400	254,770,719
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	1,285						1,285
Redemption of noncontrolling OP units for common (in shares)			327,453
Redemption of noncontrolling OP units for common shares				1,614			(1,614)
Issuance of common shares and deferred compensation amortization, net	231,699		$ 3	231,696
Issuance of common shares and deferred compensation amortization, net (in shares)			23,962,696
Repurchase of common shares	(11,042)			(11,042)
Repurchase of common shares (in shares)			(1,329,940)
Repurchase of common shares to settle tax obligations	(2,623)		$ 0	(2,623)
Repurchase of common shares to settle tax obligations (in shares)			(576,011)
Forfeiture of employee common shares	1				1
Forfeiture of employee common shares (in shares)			(2,467)
Dividends/distributions	(123,258)				(121,353)		(1,905)
Net Income	186,391				183,302		3,089
Other comprehensive loss	(16,035)					(16,035)
Balance at end of period at Dec. 31, 2020	1,991,137	$ 94,016	$ 28	3,196,315	(1,301,726)	(17,963)	20,467
Ending balance (in shares) at Dec. 31, 2020		1,935,400	277,152,450
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of partnership interest in real estate	21,901						21,901
Redemption of noncontrolling OP units for common (in shares)			185,270
Redemption of noncontrolling OP units for common shares				958			(958)
Redemption of noncontrolling OP units for real estate	(22,305)			(12,919)			(9,386)
Issuance of common shares and deferred compensation amortization, net	73,851			73,851
Issuance of common shares and deferred compensation amortization, net (in shares)			6,993,194
Repurchase of common shares to settle tax obligations	(6,134)			(6,134)
Repurchase of common shares to settle tax obligations (in shares)			(567,924)
Forfeiture of employee common shares	2				2
Forfeiture of employee common shares (in shares)			(10,264)
Dividends/distributions	(132,020)				(130,358)		(1,662)
Net Income	385,091				382,648		2,443
Other comprehensive loss	11,705					11,705
Reallocation of noncontrolling interests				435			(435)
Balance at end of period at Dec. 31, 2021	$ 2,323,228	$ 94,016	$ 28	$ 3,252,506	$ (1,049,434)	$ (6,258)	$ 32,370
Ending balance (in shares) at Dec. 31, 2021		1,935,400	283,752,726

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 385,091	$ 186,391	$ 285,293
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	179,523	164,260	150,440
Gains on sales of properties	(367,274)	(139,039)	(250,889)
Debt satisfaction (gains) losses, net	13,894	(21,452)	4,517
Impairment charges	5,541	14,460	5,329
Straight-line rents	(12,275)	(13,602)	(14,264)
Amortization of right of use assets	3,726	3,763	3,645
Other non-cash expense, net	6,734	6,210	6,060
Equity in (earnings) losses of non-consolidated entities	190	169	(2,890)
Distributions of accumulated earnings from non-consolidated entities	0	0	2,571
Change in accounts payable and other liabilities	7,996	2,859	(270)
Change in rent receivable and prepaid rent, net	1,058	80	3,770
Change in accrued interest payable	2,138	1,866	3,368
Other adjustments, net	(5,996)	(4,130)	(4,496)
Net cash provided by operating activities	220,346	201,835	192,184
Cash flows from investing activities:
Acquisition of real estate, including intangible assets	(758,371)	(611,754)	(662,010)
Investment in real estate under construction	(288,519)	(53,971)	(11,332)
Capital expenditures	(15,207)	(17,250)	(17,829)
Net proceeds from sale of properties	728,360	192,560	504,118
Investment in loans receivable	(1,497)	0	0
Principal payments received on loans receivable	8	0	0
Investments in non-consolidated entities, net	(4,533)	(7,528)	(8,018)
Distributions from non-consolidated entities in excess of accumulated earnings	8,347	8,055	17,119
Payments of deferred leasing costs	(7,297)	(4,841)	(8,196)
Change in real estate deposits, net	947	379	(817)
Net cash used in investing activities	(337,762)	(494,350)	(186,965)
Cash flows from financing activities:
Dividends to common and preferred shareholders	(128,334)	(118,384)	(122,843)
Principal amortization payments	(13,552)	(19,441)	(24,259)
Principal payments on debt, excluding normal amortization	(14,581)	0	(89,242)
Proceeds of mortgages and notes payable	11,610	0	0
Revolving credit facility borrowings	555,000	170,000	110,000
Revolving credit facility payments	(555,000)	(170,000)	(110,000)
Proceeds from issuance of senior notes	399,032	396,932	0
Repurchase of senior notes	(188,756)	(112,312)	0
Payment for early extinguishment of debt	(12,664)	(11,094)	(3,505)
Deferred financing costs	(3,977)	(3,803)	(5,456)
Cash distributions to noncontrolling interests	(1,662)	(1,905)	(2,763)
Cash contributions from noncontrolling interests	21,411	1,285	867
Repurchase of common shares	0	(11,042)	(3,598)
Issuance of common shares, net of costs and repurchases to settle tax obligations	60,575	222,390	197,643
Net cash provided by (used in) financing activities	129,102	342,626	(53,156)
Change in cash, cash equivalents and restricted cash	11,686	50,111	(47,937)
Less restricted cash classified as held for sale	(80)	0	0
Cash, cash equivalents and restricted cash, at beginning of year	179,421	129,310	177,247
Cash, cash equivalents and restricted cash, at end of year	$ 191,027	$ 179,421	$ 129,310

The Company

The Company	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company LXP Industrial Trust (together with its consolidated subsidiaries, except when the context only applies to the parent entity, the “Company”) is a Maryland real estate investment trust (“REIT”) that owns a portfolio of equity investments focused on single-tenant industrial properties. As of December 31, 2021, the Company had equity ownership interests in approximately 121 consolidated properties located in 23 states. The properties in which the Company has an interest are primarily net leased to tenants in various industries. The Company believes it has qualified as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). Accordingly, the Company will not be subject to federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under the Code. The Company is permitted to participate in certain activities from which it was previously precluded in order to maintain its qualification as a REIT, so long as these activities are conducted in entities which elect to be treated as taxable REIT subsidiaries (“TRS”) under the Code. As such, the TRS are subject to federal income taxes on the income from these activities. The Company conducts its operations indirectly through (1) property owner subsidiaries, which are single purpose entities, (2) a wholly-owned TRS, Lexington Realty Advisors, Inc. (“LRA”), and (3) joint ventures. Property owner subsidiaries are landlords under leases for properties in which the Company has an interest and/or borrowers under loan agreements secured by properties in which the Company has an interest and lender subsidiaries are lenders under loan agreements where the Company made an investment in a loan asset, but in all cases are separate and distinct legal entities. Each property owner subsidiary is a separate legal entity that maintains separate books and records. The assets and credit of each property owner subsidiary with a property subject to a mortgage loan are not available to creditors to satisfy the debt and other obligations of any other person, including any other property owner subsidiary or any other affiliate. Consolidated entities that are not property owner subsidiaries do not directly own any of the assets of a property owner subsidiary (or the general partner, member or managing member of such property owner subsidiary), but merely hold partnership, membership or beneficial interest therein, which interests are subordinate to the claims of such property owner subsidiary's (or its general partner's, member's or managing member's) creditors.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation. The Company's consolidated financial statements are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial statements reflect the accounts of the Company and its consolidated subsidiaries. The Company consolidates its wholly-owned subsidiaries, partnerships and joint ventures which it controls (i) through voting rights or similar rights or (ii) by means other than voting rights if the Company is the primary beneficiary of a variable interest entity ("VIE"). Entities which the Company does not control and entities which are VIEs in which the Company is not the primary beneficiary are accounted for under the equity method of accounting. During 2021, the Company acquired interests in seven joint ventures with developers, consisting of five on-going development projects and two land joint ventures, with ownership interests ranging from 80% to 95.5%. Each joint venture acquired land parcels to develop industrial properties. The Company determined that the joint ventures are VIEs in which the Company is the primary beneficiary. As a result, these joint ventures’ operations are consolidated in the Company's financial statements. In addition, the Company is the primary beneficiary of certain other VIEs as it has a controlling financial interest in these entities. Lepercq Corporate Income Fund L.P. (“LCIF”) is a consolidated VIE and the Company has an approximate 99% ownership interest. The assets of each VIE are only available to satisfy such VIE's respective liabilities. As of December 31, 2020, the VIEs' mortgages and notes payable were non-recourse to the Company. Below is a summary of selected financial data of consolidated VIEs for which the Company is the primary beneficiary included in the consolidated balance sheets as of December 31, 2021 and 2020: December 31, 2021 December 31, 2020 Real estate, net $ 810,087 $ 569,461 Total assets $ 952,611 $ 679,786 Mortgages and notes payable, net $ — $ 25,600 Total liabilities $ 47,011 $ 40,974 In addition, the Company acquires, from time to time, properties using a reverse like-kind exchange structure pursuant to Section 1031 of the Internal Revenue Code (a "reverse 1031 exchange") and, as such, the properties are in the possession of an Exchange Accommodation Titleholder ("EAT") until the reverse 1031 exchange is completed. The EAT is classified as a VIE as it is a “thinly capitalized” entity. The Company consolidates the EAT because it is the primary beneficiary as it has the ability to control the activities that most significantly impact the EAT's economic performance and can collapse the reverse 1031 exchange structure at any time. The assets of the EAT primarily consist of leased property (net real estate and intangibles). Revenue Recognition. The Company recognizes lease revenue on a straight-line basis over the term of the lease unless another systematic and rational basis is more representative of the time pattern in which the use benefit is derived from the leased property. Revenue is recognized on a contractual basis for leases with escalations tied to a consumer price index with no floor. The Company evaluates the collectability of its rental payments and recognizes revenue on a cash basis when the Company believes it is no longer probable that it will receive substantially all of the remaining lease payments. Renewal options in leases are excluded from the calculation of straight-line rent if the renewals are not reasonably assured. If the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. If the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. The lease incentive is recorded as a deferred expense and amortized as a reduction of revenue on a straight-line basis over the respective lease term. The Company recognizes lease termination fees as rental revenue in the period received and writes off unamortized lease-related intangible and other lease-related account balances, provided there are no further Company obligations under the lease. Otherwise, such fees and balances are recognized on a straight-line basis over the remaining obligation period with the termination payments being recorded as a component of rent receivable-deferred on the consolidated balance sheets. Earnings Per Share . Basic net income (loss) per share is computed under the two-class method by dividing net income (loss) reduced by preferred dividends and amounts allocated to certain non-vested share-based payment awards, if applicable, by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share amounts are similarly computed but include the effect, when dilutive, of in-the-money common share options and non-vested common shares, unsettled common shares sold in forward sales transactions, OP units and put options of certain convertible securities. Use of Estimates. Management has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the economic environment. Management adjusts such estimates when facts and circumstances dictate. The most significant estimates made include the recoverability of accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of VIEs and which entities should be consolidated, the determination of impairment of long-lived assets and equity method investments, valuation of derivative financial instruments, valuation of awards granted under compensation plans, the determination of the incremental borrowing rate for leases where the Company is the lessee and the useful lives of long-lived assets. Actual results could differ materially from those estimates. Acquisition of Real Estate. The fair value of the real estate acquired, which includes the impact of fair value adjustments for assumed mortgage debt related to property acquisitions, is allocated to the acquired tangible assets, consisting of land, building and improvements and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and value of tenant relationships, based in each case on their fair values. The Company's acquisitions are primarily considered asset acquisitions, thus acquisition costs are capitalized. The fair value of the tangible assets of an acquired property (which includes land, building and improvements and fixtures and equipment) is determined by valuing the property as if it were vacant. The “as-if-vacant” value is then allocated to land and building and improvements based on management's determination of relative fair values of these assets. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions. Management generally retains a third party to assist in the allocations. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market lease values are recorded based on the difference between the current in-place lease rent and management's estimate of current market rents. Below-market lease intangibles are recorded as part of deferred revenue and amortized into rental revenue over the non-cancelable periods and bargain renewal periods of the respective leases. Above-market leases are recorded as part of intangible assets and amortized as a direct charge against rental revenue over the non-cancelable portion of the respective leases. The aggregate value of other acquired intangible assets, consisting of in-place leases and tenant relationship values, is measured by the excess of (1) the purchase price paid for a property over (2) the estimated fair value of the property as if vacant, determined as set forth above. This aggregate value is allocated between in-place lease values and tenant relationship values based on management's evaluation of the specific characteristics of each tenant's lease. The value of in-place leases is amortized to expense over the remaining non-cancelable periods and any bargain renewal periods of the respective leases. The value of tenant relationships is amortized to expense over the applicable lease term plus expected renewal periods. Depreciation is determined by the straight-line method over the remaining estimated economic useful lives of the properties. The Company generally depreciates its real estate assets over periods ranging up to 40 years. Impairment of Real Estate. The Company evaluates the carrying value of all tangible and intangible real estate assets held for investment for possible impairment when an event or change in circumstance has occurred that indicates its carrying value may not be recoverable. The Company considers the strategic decisions regarding the future plans to sell properties and other market factors. The Company regularly updates significant estimates and assumptions including rental rates, capitalization rates and discount rates, which are included in the anticipated future undiscounted cash flows derived from the asset. If such cash flows are less than the asset's carrying value, an impairment charge is recognized to the extent by which the asset's carrying value exceeds its estimated fair value, which may be below the balance of any non-recourse financing. Estimating future cash flows and fair values is highly subjective and such estimates could differ materially from actual results. Investments in Non-Consolidated Entities . The Company uses the equity method of accounting for those joint ventures where it exercises significant influence but does not have control. If the Company's investment in the entity is insignificant and the Company has no influence over the control of the entity then the entity is accounted for under the cost method. Impairment of Equity Method Investments. The Company assesses whether there are indicators that the value of its equity method investments may be impaired. An impairment charge is recognized only if the Company determines that a decline in the value of the investment below its carrying value is other-than-temporary. The assessment of impairment is highly subjective and involves the application of significant assumptions and judgments about the Company's intent and ability to recover its investment given the nature and operations of the underlying investment, including the level of the Company's involvement therein, among other factors. To the extent an impairment is deemed to be other-than-temporary, the loss is measured as the excess of the carrying amount of the investment over the estimated fair value of the investment. Fair Value Measurements. The Company follows the guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures ("Topic 820"), to determine the fair value of financial and non-financial instruments. Topic 820 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs, which are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as considering counterparty credit risk. The Company has formally elected to apply the portfolio exception within Topic 820 with respect to measuring counterparty risk for all of its derivative transactions subject to master netting arrangements. The Company estimates the fair value of its real estate assets, including non-consolidated real estate assets, by using income and market valuation techniques. The Company may estimate fair values using market information such as recent sale contracts (Level 2 inputs) or recent sale offers or discounted cash flow models, which primarily rely on Level 3 inputs. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows may include contractual rental revenues, projected future rental revenues and expenses and forecasted tenant improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals, experience the Company has with its other owned properties in such markets and expectations for growth. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent the Company under-estimates forecasted cash outflows (tenant improvements, lease commissions and operating costs) or over-estimates forecasted cash inflows (rental revenue rates), the estimated fair value of its real estate assets could be overstated. Cost Capitalization. The Company capitalizes interest and direct and indirect project costs associated with the initial construction of a property up to the time the property is substantially complete and ready for its intended use in real estate under construction in the consolidated balance sheets. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once necessary work has been completed on a vacant space, project costs are no longer capitalized. Properties Held For Sale. Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately in the consolidated balance sheets. The operating results of these properties are reflected as discontinued operations in the consolidated statements of operations only if the sale of these assets represents a major strategic shift in operations; if not, the operating results are included in continuing operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Properties that do not meet the held for sale criteria are accounted for as operating properties. Deferred Expenses. Deferred expenses consist primarily of revolving line of credit debt and leasing costs. Debt costs are amortized using the straight-line method, which approximates the interest method, over the terms of the debt instruments and leasing costs are amortized over the term of the related lease. Derivative Financial Instruments . The Company accounts for its interest rate swap agreements in accordance with FASB ASC Topic 815, Derivatives and Hedging ("Topic 815"). In accordance with Topic 815, these agreements are carried on the balance sheet at their respective fair values, as an asset if fair value is positive, or as a liability if fair value is negative. If the interest rate swap is designated as a cash flow hedge, the portion of the interest rate swap's change in fair value is reported as a component of other comprehensive income (loss). Upon entering into hedging transactions, the Company documents the relationship between the interest rate swap agreement and the hedged item. The Company also documents its risk-management policies, including objectives and strategies, as they relate to its hedging activities. The Company assesses, both at inception of a hedge and on an ongoing basis, whether or not the hedge is highly effective. The Company will discontinue hedge accounting on a prospective basis with changes in the estimated fair value reflected in earnings when (1) it is determined that the derivative is no longer effective in offsetting cash flows of a hedged item (including forecasted transactions), (2) it is no longer probable that the forecasted transaction will occur or (3) it is determined that designating the derivative as an interest rate swap is no longer appropriate. The Company does and may continue to utilize interest rate swap and cap agreements to manage interest rate risk, but does not anticipate entering into derivative transactions for speculative trading purposes. Stock Compensation. The Company maintains an equity participation plan. Non-vested share grants generally vest either based upon (1) time, (2) performance and/or (3) market conditions. All share-based payments to employees are recognized in the consolidated statements of operations based on their fair values. The Company has made an accounting policy election to account for share-based award forfeitures in compensation costs when they occur. Tax Status. The Company has made an election to qualify, and believes it is operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, the Company generally will not be subject to federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under Sections 856 through 860 of the Code. The Company is permitted to participate in certain activities from which it was previously precluded in order to maintain its qualification as a REIT, so long as these activities are conducted in entities which elect to be treated as taxable REIT subsidiaries under the Code. As such, the Company is subject to federal and state income taxes on the income from these activities. Income taxes, primarily related to the Company's taxable REIT subsidiaries, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Cash and Cash Equivalents. The Company considers all highly liquid instruments with maturities of three months or less from the date of purchase to be cash equivalents. Restricted Cash. Restricted cash is comprised primarily of cash balances held by lenders and operating cash reserves held in escrow for one property. Environmental Matters. Under various federal, state and local environmental laws, statutes, ordinances, rules and regulations, an owner of real property may be liable for the costs of removal or remediation of certain hazardous or toxic substances at, on, in or under such property as well as certain other potential costs relating to hazardous or toxic substances. These liabilities may include government fines, penalties and damages for injuries to persons and adjacent property. Such laws often impose liability without regard to whether the owner knew of, or was responsible for, the presence or disposal of such substances. Although most of the tenants of properties in which the Company has an interest are primarily responsible for any environmental damage and claims related to the leased premises, in the event of the bankruptcy or inability of the tenant of such premises to satisfy any obligations with respect to such environmental liability, or if the tenant is not responsible, the Company's property owner subsidiary may be required to satisfy any such obligations, should they exist. In addition, the property owner subsidiary, as the owner of such a property, may be held directly liable for any such damages or claims irrespective of the provisions of any lease. As of December 31, 2021, the Company was not aware of any environmental matter relating to any of its investments that would have a material impact on the consolidated financial statements. Segment Reporting. The Company operates generally in one industry segment, single-tenant real estate assets. Reclassifications . Certain amounts included in prior years' financial statements have been reclassified to conform to the current year's presentation. Recently Issued Accounting Guidance . In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts that reference the London Interbank Offered Rate, or LIBOR, or another reference rate expected to be discontinued because of reference rate reform. The guidance in ASU 2020-04 is optional, applies for a limited period of time to ease the potential burden in accounting for (or recognizing the effect of) reference rate reform on financial reporting, in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of LIBOR and may be elected over time as reference rate reform activities occur. As of March 31, 2020, the Company has elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In July 2021, the FASB issued ASU 2021-05, Lease (Topic 842): Lessors-Certain Leases with Variable Lease Payments, to amend the guidance to provide alternative accounting for sales type and direct finance leases with variable lease payments. The amendments in ASU 2021-05 amend the accounting guidance to allow lessors to classify and account for variable leases payments that do no depend on a reference index or a rate as an operating lease if certain criteria are met. The standard is effective for fiscal years beginning after December 15, 2021 with early adoption permitted. The Company does not currently have any leases that are classified as sales-type or direct finance leases. Therefore, the Company early adopted the measure on a prospective basis to applicable leases that commenced or were modified on or after July 1, 2021.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share A portion of the Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for each of the years in the three-year period ended December 31, 2021: 2021 2020 2019 BASIC Net income attributable to common shareholders $ 375,848 $ 176,788 $ 273,225 Weighted-average number of common shares outstanding 277,640,835 266,914,843 237,642,048 Net income attributable to common shareholders - per common share basic $ 1.35 $ 0.66 $ 1.15 2021 2020 2019 DILUTED: Net income attributable to common shareholders - basic $ 375,848 $ 176,788 $ 273,225 Impact of assumed conversions 7,962 — — Net income attributable to common shareholders $ 383,810 $ 176,788 $ 273,225 Weighted-average common shares outstanding - basic 277,640,835 266,914,843 237,642,048 Effect of dilutive securities: Unvested share-based payment awards and options 989,177 1,267,709 292,467 Shares issuable under forward sales agreements 2,110,315 — — Operating Partnership Units 1,918,845 — — Series C Cumulative Convertible Preferred 4,710,570 — — Weighted-average common shares outstanding - diluted 287,369,742 268,182,552 237,934,515 Net income attributable to common shareholders - per common share diluted $ 1.34 $ 0.66 $ 1.15 For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.

Investments in Real Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2021
Real Estate Investments, Net [Abstract]
Investments in Real Estate	Investments in Real Estate The Company's real estate, net, consists of the following at December 31, 2021 and 2020: 2021 2020 Real estate, at cost: Buildings and building improvements $ 3,235,601 $ 3,144,176 Land, land estates and land improvements 342,895 367,272 Construction in progress 5,482 3,116 Real estate intangibles: In-place lease values 320,847 357,640 Tenant relationships 13,205 33,327 Above-market leases 7,351 18,326 Land held for development 104,160 — Investments in real estate under construction 161,165 75,906 4,190,706 3,999,763 Accumulated depreciation and amortization (1) (655,740) (884,465) Real estate, net $ 3,534,966 $ 3,115,298 (1) Includes accumulated amortization of real estate intangible assets of $151,041 and $199,997 in 2021 and 2020, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $33,710 in 2022, $32,501 in 2023, $26,638 in 2024, $22,709 in 2025 and $19,701 in 2026. The Company had below-market leases, net of accumulated accretion, which are included in deferred revenue, of $14,401 and $16,531, respectively, as of December 31, 2021 and 2020. The estimated accretion for the next five years is $1,955 in 2022, $1,955 in 2023, $1,955 in 2024, $1,865 in 2025 and $1,663 in 2026. The Company completed the following acquisitions during 2021 and 2020: 2021: Market (1) Acquisition/Completion Date Initial Primary Lease Expiration at Acquisition Land Building and Improvements Lease in-place Value Intangible Above (Below) Market Lease Intangible Indianapolis, IN January 2021 $ 14,310 12/2024 $ 1,208 $ 12,052 $ 1,035 $ 15 Indianapolis, IN January 2021 14,120 08/2025 1,162 11,825 1,133 — Central Florida January 2021 22,358 05/2031 1,416 19,910 1,032 — Columbus, OH (2) March 2021 19,531 03/2024 2,800 16,731 — — Houston, TX May 2021 28,293 08/2028 4,272 22,296 1,725 — Houston, TX May 2021 37,686 12/2026 6,489 28,470 2,727 — Houston, TX May 2021 11,512 08/2024 1,792 9,089 631 — Cincinnati/Dayton, OH June 2021 18,674 06/2023 1,109 16,477 1,088 — Central Florida June 2021 48,593 N/A 2,610 45,983 — — Greenville-Spartanburg, SC June 2021 36,903 09/2025 2,376 32,121 2,406 — Greenville-Spartanburg, SC June 2021 23,812 06/2026 1,329 21,419 1,064 — Greenville-Spartanburg, SC July 2021 29,421 04/2029 2,819 24,508 2,094 — Greenville-Spartanburg, SC July 2021 26,106 12/2029 1,169 23,070 1,867 — Greenville-Spartanburg, SC (3) July 2021 18,394 N/A 1,020 17,374 — — Greenville-Spartanburg, SC July 2021 31,646 09/2026 1,710 27,817 2,119 — Columbus, OH August 2021 29,265 11/2029 2,251 25,184 1,830 — Indianapolis, IN October 2021 16,315 12/2026 741 14,488 1,086 — Indianapolis, IN October 2021 44,479 03/2031 1,991 39,338 3,150 — Indianapolis, IN October 2021 15,644 12/2026 695 13,958 991 — Atlanta, GA (2)(4) November 2021 47,568 10/2028 7,209 40,359 — — Phoenix, AZ (2) November 2021 61,490 11/2036 11,732 49,758 — — Phoenix, AZ December 2021 83,517 12/2031 8,027 73,650 1,840 — Indianapolis, IN December 2021 93,899 11/2031 8,335 80,051 5,513 — Atlanta, GA December 2021 37,625 07/2031 2,006 33,276 2,343 — Atlanta, GA December 2021 47,618 09/2031 2,497 42,255 2,866 — Atlanta, GA December 2021 26,838 09/2025 1,465 23,649 1,724 — $ 885,617 $ 80,230 $ 765,108 $ 40,264 $ 15 Weighted-average life of intangible assets (years) 7.3 3.5 (1) A land parcel located in Hebron, OH was also purchased for $371. (2) Development project substantially completed and placed into service. (3) Subsequent to acquisition, property fully leased for 5.5 years. (4) Initial basis excludes certain remaining costs, including developer partner promote. 2020: Market Acquisition Date Initial Lease Expiration Land Building and Improvements Lease in-place Value Intangible Chicago, IL January 2020 $ 53,642 11/2029 $ 3,681 $ 45,817 $ 4,144 Phoenix, AZ January 2020 19,164 12/2025 1,614 16,222 1,328 Chicago, IL January 2020 39,153 12/2029 1,788 34,301 3,064 Dallas, TX February 2020 83,495 08/2029 4,500 71,635 7,360 Savannah, GA April 2020 34,753 07/2027 1,689 30,346 2,718 Dallas, TX May 2020 10,731 06/2030 1,308 8,466 957 Savannah, GA June 2020 30,448 06/2025 2,560 25,697 2,191 Savannah, GA June 2020 9,130 08/2025 1,070 7,448 612 Houston, TX June 2020 20,949 04/2025 2,202 17,101 1,646 Ocala, FL June 2020 58,283 08/2030 4,113 49,904 4,266 DC/Baltimore, MD September 2020 29,143 11/2024 2,818 24,423 1,902 Savannah, GA September 2020 40,908 07/2026 3,775 34,322 2,811 Phoenix, AZ November 2020 87,820 03/2033 10,733 69,491 7,596 Dallas, TX December 2020 44,030 10/2024 3,938 37,185 2,907 Greenville-Spartanburg, SC December 2020 18,595 02/2031 1,186 15,814 1,595 Dallas, TX December 2020 31,556 01/2030 3,847 25,038 2,671 $ 611,800 $ 50,822 $ 513,210 $ 47,768 Weighted-average life of intangible assets (years) 8.7 As of December 31, 2021, the details of the development arrangements outstanding are as follows (in $000's, except square feet): Project (% owned) # of Buildings Market Estimated Sq. Ft. Estimated Project Cost GAAP Investment Balance as of Amount Funded as of 12/31/2021 (4) Estimated Building Completion Date % Leased as of The Cubes at Etna East (95%) (1)(2) 1 Columbus, OH 1,074,840 $ 72,100 $ 33,002 $ 22,471 2Q 2022 — % Mt. Comfort (80%) (1) 1 Indianapolis, IN 1,053,360 60,300 30,012 21,977 3Q 2022 — % Cotton 303 (93%) (1) 2 Phoenix, AZ 880,678 84,200 30,263 24,475 3Q 2022 — % Ocala (80%) (1) 1 Central Florida 1,085,280 80,900 32,186 21,186 3Q 2022 — % Smith Farms (90%) (1)(3) 3 Greenville-Spartanburg, SC 2,194,820 162,100 35,702 21,433 4Q 2022 - 2Q 2023 36 % $ 459,600 $ 161,165 $ 111,542 (1) Estimated project cost includes estimated tenant improvements and leasing costs and excludes potential developer partner promote. (2) Land parcel distributed from the Etna Park 70 East joint venture during the fourth quarter. (3) Preleased one 797,936 square foot facility subject to a 12-year lease commencing upon substantial completion of the facility. (4) Excludes noncontrolling interests' share. As of December 31, 2021, the Company's aggregate investment in five consolidated development arrangements was $161,165, which included capitalized interest of $1,114 for the year ended December 31, 2021 and is presented as investments in real estate under construction in the accompanying consolidated balance sheets.

Dispositions and Impairment

Dispositions and Impairment	12 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Impairment	Dispositions and Impairment For the years ended December 31, 2021, 2020 and 2019, the Company disposed of its interests in various properties for an aggregate gross disposition price of $823,966, $432,843 and $504,118, respectively, which resulted in gains on sales of $367,274, $139,039 and $250,889, respectively, including, in 2021 the sale of 22 special purpose industrial assets to a newly-formed joint venture, NNN MFG Cold JV L.P. (“MFG Cold JV”), with an unaffiliated third-party. Included in the 2021 dispositions are three non-industrial properties with a disposition price of $35,369, which was satisfied through (i) the redemption of 1,598,906 operating units ("OP units"), (ii) the assumption of $11,610 of third party mortgage financing that encumbered two of the properties and (iii) $1,497 of seller financing. The seller financing note receivable has a fixed interest rate of 6.0% per annum and matures on August 1, 2025. As of December 31, 2021, the balance of the note receivable is $1,489. Included in the 2020 dispositions are three properties which were conveyed to the lenders in forgiveness of the mortgage loan encumbering each property. The balances of the non-recourse mortgage loans were in excess of the value of the property collateral, resulting in aggregate debt satisfaction gains, net of $34,450. For the years ended December 31, 2021, 2020 and 2019, the Company recognized net debt satisfaction charges relating to properties sold of $229, $2,879 and $4,415, respectively. The Company had eight and two properties classified as held for sale at December 31, 2021 and December 31, 2020, respectively. Assets and liabilities of the held for sale properties as of December 31, 2021 and December 31, 2020 consisted of the following: December 31, 2021 December 31, 2020 Assets: Real estate, at cost $ 170,117 $ 32,629 Real estate, intangible assets 9,454 7,941 Accumulated depreciation and amortization (99,659) (24,312) Deferred expenses, net 1,759 — Other 915 272 $ 82,586 $ 16,530 Liabilities: Accounts payable and other liabilities $ 1,908 $ 588 Deferred revenue 483 — Prepaid rent 1,077 202 $ 3,468 $ 790 The Company assesses on a regular basis whether there are any indicators that the carrying value of its real estate assets may be impaired. Potential indicators may include an increase in vacancy at a property, tenant financial instability, change in the estimated holding period of the asset, the potential sale or transfer of the property in the near future and changes in economic conditions. An asset is determined to be impaired if the asset's carrying value is in excess of its estimated fair value and the Company estimates that its cost will not be recovered.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2021 and 2020, aggregated by the level in the fair value hierarchy within which those measurements fall: Fair Value Measurements Using Description 2021 (Level 1) (Level 2) (Level 3) Interest rate swap liabilities $ (6,258) $ — $ (6,258) $ — Impaired real estate assets (1) $ 12,735 $ — $ — $ 12,735 (1) Represents non-recurring fair value measurement. The Company measured the $12,735 fair value based on a discounted cash flow analysis, using a discount rate ranging from 8.0% to 10.0% and a residual capitalization rate ranging from 7.5% to 8.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy. Fair Value Measurements Using Description 2020 (Level 1) (Level 2) (Level 3) Interest rate swap liabilities $ (17,963) $ — $ (17,963) $ — Impaired real estate assets (1) $ 21,141 $ — $ 2,480 $ 18,661 (1) Represents non-recurring fair value measurement. The fair value is calculated as of the impairment date. $2,480 was based on an observable contract thus Level 2. The Company measured $18,661 of these fair values based on a discounted cash flow analysis, using a discount rate of 9.0% and residual capitalization rates ranging from 8.0% to 9.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy. The majority of the inputs used to value the Company's interest rate swaps fall within Level 2 of the fair value hierarchy, such as observable market interest rate curves; however, the credit valuation associated with the interest rate swaps utilizes Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. As of December 31, 2021 and 2020, the Company determined that the credit valuation adjustment relative to the overall interest rate swaps was not significant. As a result, all interest rate swaps have been classified in Level 2 of the fair value hierarchy. The table below sets forth the carrying amounts and estimated fair values of the Company's financial instruments as of December 31, 2021 and 2020: As of December 31, 2021 As of December 31, 2020 Carrying Fair Value Carrying Fair Value Liabilities Debt $ 1,497,064 $ 1,491,868 $ 1,341,242 $ 1,368,151 The fair value of the Company's debt is primarily estimated utilizing Level 3 inputs by using a discounted cash flow analysis, based upon estimates of market interest rates. The Company determines the fair value of its Senior Notes using market prices. The inputs used in determining the fair value of these notes are categorized as Level 1 due to the fact that the Company uses quoted market rates to value these instruments. However, the inputs used in determining the fair value could be categorized as Level 2 if trading volumes are low. Fair values cannot be determined with precision, may not be substantiated by comparison to quoted prices in active markets and may not be realized upon sale. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including discount rates, liquidity risks and estimates of future cash flows, could significantly affect the fair value measurement amounts. Cash Equivalents, Restricted Cash, Accounts Receivable and Accounts Payable . The Company estimates that the fair value of cash equivalents, restricted cash, accounts receivable and accounts payable approximates carrying value due to the relatively short maturity of the instruments.

Investments in Non-Consolidated

Investments in Non-Consolidated Entities	12 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments in Non-Consolidated Entities	Investments in Non-Consolidated Entities Below is a schedule of the Company's investments in non-consolidated entities: Percentage Ownership at Investment Balance as of Investment December 31, 2021 December 31, 2021 December 31, 2020 MFG Cold JV (1) 20% $ 30,752 $ — NNN Office JV L.P. (2) 20% 24,112 31,615 Etna Park 70 LLC (3) 90% 12,874 12,514 Etna Park 70 East LLC (4) 90% 2,797 7,484 BSH Lessee L.P. (5) 25% 4,024 4,851 $ 74,559 $ 56,464 (1) During 2021, the Company disposed of 22 special purpose industrial assets to MFG Cold JV for an aggregate disposition price of $550,000, net of $2,775 of purchase price adjustments, and acquired a 20% interest in the MFG Cold JV. The Company recognized a gain of $239,386 in connection with the disposition of the assets, and, in addition, MFG Cold JV assumed $25,850 of non-recourse mortgage debt in the transaction. MFG Cold JV obtained $381,000 of non-recourse mortgage financing which bears interest at one month Term SOFR plus 245 basis points and has an initial term of two years but can be extended for three additional terms of one year each. MFG Cold JV entered into an interest rate agreement which caps the one-month Term SOFR component of the $381,000 mortgage financing at 3% for two years. (2) NNN Office JV L.P. is a joint venture formed in 2018 and owns office properties formerly owned by the Company. (3) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. (4) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. During the fourth quarter of 2021, a land parcel was distributed from the Etna Park 70 East LLC to The Cubes at Etna East, a consolidated development joint venture. (5) A joint venture investment, which owns a single-tenant, net-leased asset. During 2020, NNN Office JV L.P. (“NNN JV”) sold two assets and the Company recognized aggregate gains on the transactions of $557 within equity in earnings (losses) of non-consolidated entities within its consolidated statement of operations. In conjunction with these property sales, NNN JV received aggregate net proceeds of $8,504 after the satisfaction of an aggregate of $40,800 of its non-recourse mortgage indebtedness. The NNN JV distributed $1,701 of the net proceeds to the Company as a result of the property sales. During 2019, NNN JV sold four assets and the Company recognized aggregate gains on the transactions of $3,529 within equity in earnings of non-consolidated entities in its consolidated statement of operations. In conjunction with these property sales, NNN JV received aggregate net proceeds of $45,208 after satisfaction of an aggregate of $101,520 of its non-recourse mortgage indebtedness. The NNN JV distributed $7,549 of the net proceeds to the Company as a result of the property sales. In February 2019, a non-consolidated real estate entity, in which the Company owned a 15% ownership interest, sold its only asset and the Company received $2,317 of proceeds. The Company recognized a gain on the transaction of $824, which is included in equity in earnings of non-consolidated entities in its consolidated statement of operations. The Company earns advisory fees from certain of these non-consolidated entities for services related to acquisitions, asset management and debt placement. Advisory fees earned from these non-consolidated investments were $2,968, $3,028 and $3,596 for the years ended December 31, 2021, 2020 and 2019.

Mortgages and Notes Payable

Mortgages and Notes Payable	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Mortgages and Notes Payable	Mortgages and Notes Payable The Company had the following mortgages and notes payable outstanding as of December 31, 2021 and 2020: December 31, 2021 December 31, 2020 Mortgages and notes payable $ 84,429 $ 138,412 Unamortized debt issuance costs (1,337) (1,883) $ 83,092 $ 136,529 Interest rates, including imputed rates on mortgages and notes payable, ranged from 3.5% to 4.3% and 3.5% to 6.3% at December 31, 2021 and 2020, respectively, and all mortgages and notes payable mature between 2023 and 2031, as of December 31, 2021. The weighted-average interest rate at December 31, 2021 and 2020 was approximately 4.0% and 4.5%, respectively. On July 12, 2021, LCIF encumbered two of its properties with mortgage debt in the amount of $11,610. Subsequently, on July 12, 2021, certain operating partnership unitholders assumed the mortgages upon purchasing the properties. The Company has an unsecured credit agreement with KeyBank National Association, as agent. The maturity dates and interest rates as of December 31, 2021, are as follows: Maturity Date Interest Rate $600,000 Revolving Credit Facility (1) February 2023 LIBOR + 0.90% $300,000 Term Loan (2) January 2025 LIBOR + 1.00% (1) Maturity date of the revolving credit facility can be extended to February 2024 at the Company's option. The interest rate ranges from LIBOR plus 0.775% to 1.45%. At December 31, 2021, the Company had no borrowings outstanding and availability of $600,000, subject to covenant compliance. (2) The LIBOR portion of the interest rate was swapped to obtain a current fixed rate of 2.732% per annum. The aggregate unamortized debt issuance costs for the term loan was $1,554 and $2,057 as of December 31, 2021 and 2020, respectively. The Company was compliant with all applicable financial covenants contained in its corporate-level debt agreements at December 31, 2021. Mortgages payable and secured loans are generally collateralized by real estate and the related leases. Certain mortgages payable have yield maintenance or defeasance requirements relating to any prepayments. Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending Total 2022 $ 11,275 2023 12,265 2024 5,373 2025 5,570 2026 5,773 Thereafter 44,173 84,429 Unamortized debt issuance costs (1,337) $ 83,092 Included in the consolidated statements of operations, the Company recognized debt satisfaction charges, net, of $717 and $9 for the years ended December 31, 2021 and 2019, respectively, due to the satisfaction of mortgages and notes payable other than those disclosed elsewhere in these financial statements. In addition, the Company capitalized $2,974, $1,745 and $410 in interest for the years ended 2021, 2020 and 2019, respectively.

Senior Notes, Convertible Notes

Senior Notes, Convertible Notes and Trust Preferred Securities	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Senior Notes, Convertible Notes and Trust Preferred Securities	Senior Notes, Convertible Notes and Trust Preferred Securities The Company had the following Senior Notes outstanding as of December 31, 2021 and 2020: Issue Date December 31, 2021 December 31, 2020 Interest Rate Maturity Date Issue Price August 2021 $ 400,000 $ — 2.375 % October 2031 99.758 % August 2020 400,000 400,000 2.70 % September 2030 99.233 % May 2014 198,932 198,932 4.40 % June 2024 99.883 % June 2013 — 188,756 4.25 % June 2023 99.026 % 998,932 787,688 Unamortized debt discount (3,655) (3,491) Unamortized debt issuance cost (7,346) (4,922) $ 987,931 $ 779,275 Each series of the Senior Notes is unsecured and pays interest semi-annually in arrears. The Company may redeem the notes at its option at any time prior to maturity in whole or in part by paying the principal amount of the notes being redeemed plus a make-whole premium. In August 2021, the Company issued $400,000 aggregate principal amount of 2.375% Senior Notes due 2031 ("2031 Senior Notes") at an issuance price of 99.758% of the principal amount. The Company issued the 2031 Senior Notes at an initial discount of $968 which is being recognized as additional interest expense over the term of the 2031 Senior Notes. The Company used a portion of the net proceeds from the offering of the 2031 Senior Notes to redeem the $188,756 aggregate principal balance of its outstanding 4.25% Senior Notes due 2023 ("2023 Senior Notes"). The consideration paid included a make-whole premium of $12,191 and $2,028 of accrued and unpaid interest. The Company recognized a $12,948 debt satisfaction loss related to the aggregate redemptions. In August 2020, the Company issued $400,000 aggregate principal amount of 2.70% Senior Notes due 2030 ("2030 Senior Notes") at an issuance price of 99.233% of the principal amount. The Company issued the 2030 Senior Notes at an initial discount of $3,068 which is being recognized as additional interest expense over the term of the 2030 Senior Notes. The Company used the proceeds from the offering of the 2030 Notes to repurchase $61,244 and $51,068 aggregate principal balance of its outstanding 2023 Senior Notes and 4.40% Senior Notes 2024, respectively through a tender offer. The Company recognized a $10,119 debt satisfaction loss related to the aggregate repurchases, which included a write-off of the proportionate amount of unamortized discount and debt issuance costs related to the 2023 and 2024 senior notes. During 2007, the Company issued $200,000 original principal amount of Trust Preferred Securities. The Trust Preferred Securities, which are classified as debt, are due in 2037, are open for redemption at the Company's option, bear interest at a variable rate of three month LIBOR plus 170 basis points through maturity. The interest rate at December 31, 2021 was 1.832%. As of December 31, 2021 and 2020, there was $129,120 original principal amount of Trust Preferred Securities outstanding and $1,525 and $1,625, respectively, of unamortized debt issuance costs. Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2022 $ — 2023 — 2024 198,932 2025 — 2026 — Thereafter 929,120 1,128,052 Unamortized debt discounts (3,655) Unamortized debt issuance costs (8,871) $ 1,115,526

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities Risk Management Objective of Using Derivatives . The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the type, amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company's derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company's known or expected cash receipts and its known or expected cash payments principally related to the Company's investments and borrowings. Cash Flow Hedges of Interest Rate Risk . The Company's objectives in using interest rate derivatives are to add stability to interest expense, to manage its exposure to interest rate movements and therefore manage its cash outflows as it relates to the underlying debt instruments. To accomplish these objectives the Company primarily uses interest rate swaps as part of its interest rate risk management strategy relating to certain of its variable rate debt instruments. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The Company did not incur any ineffectiveness during 2021 and 2020. During July 2019, the Company entered into four interest rate swap agreements with its counterparties. The swaps were designated as cash flow hedges of the risk of variability attributable to changes in the LIBOR swap rates on its $300,000 LIBOR-indexed variable-rate unsecured term loan. Accordingly, changes in fair value of the swaps are recorded in other comprehensive income (loss) and reclassified to earnings as interest becomes receivable or payable. The swaps expire coterminous with the extended maturity of the term loan in January 2025. During the next 12 months, the Company estimates that an additional $3,848 will be reclassified as an increase to interest expense if the swaps remain outstanding. As of December 31, 2021, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Interest Rate Derivative Number of Instruments Notional Interest Rate Swaps 4 $300,000 The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheet. As of December 31, 2021 As of December 31, 2020 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest Rate Swap Liability Other liabilities $ (6,258) Other liabilities $ (17,963) The table below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for 2021 and 2020: Derivatives in Cash Flow Amount of Gain (Loss) Recognized Amount of Loss Reclassified from Accumulated OCI into Income (1) December 31, Hedging Relationships 2021 2020 2021 2020 Interest Rate Swap $ 6,755 $ (19,422) $ 4,950 $ 3,387 (1) Amounts reclassified from accumulated other comprehensive income (loss) to interest expense within the consolidated statements of operations. Total interest expense presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded was $46,708 and $55,201 for 2021 and 2020, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases Lessor The Company's lease portfolio as a lessor primarily includes general purpose, single-tenant net-leased real estate assets. Most of the Company’s leases require tenants to pay fixed annual rental payments that escalate on an annual basis and variable payments for other operating expenses, such as real estate taxes, insurance, common area maintenance ("CAM"), and utilities, that are based on the actual expenses incurred. Certain leases allow for the tenant to renew the lease term upon expiration or earlier. Periods covered by a renewal option are included within the lease term only when renewals are deemed to be reasonably certain. Certain leases allow for the tenant to terminate the lease before the expiration of the lease term and certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price upon expiration of the lease term or before. Accounting guidance under Topic 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease and determining the lease term when the contract has renewal, purchase or early termination provisions. The Company analyzes its accounts receivable, customer creditworthiness and current economic trends when evaluating the adequacy of the collectability of the lessee's total accounts receivable balance on a lease by lease basis. In addition, tenants in bankruptcy are analyzed and considerations are made in connection with the expected pre-petition and post-petition claims. If a lessee's accounts receivable balance is considered uncollectable, the Company will write-off the receivable balances associated with the lease to rental revenue and cease to recognize lease income, including straight-line rent, unless cash is received. If the Company subsequently determines that it is probable it will collect substantially all of the lessee's remaining lease payments under the lease term; the Company will reinstate the straight-line balance adjusting for the amount related to the period when the lease was accounted for on a cash basis. In February 2020, the Company wrote off a deferred rent receivable balance of $615 as a reduction of rental revenue related to a tenant that dissolved and surrendered its leased premises in an industrial property located in the Columbus, Ohio market. During 2019, rental revenue was reduced by an aggregate of $352 for accounts receivable deemed uncollectible. Certain tenants have been experiencing financial difficulties as a result of the COVID-19 pandemic. During 2020, the Company wrote off aggregate deferred rent receivable balances of $1,383, as a reduction of rental revenue, related to tenants with rent collectability concerns. As of December 31, 2021 and 2020, the Company also wrote off or reserved an aggregate of $370 and $389, respectively, accounts receivable, net, relating to certain tenants suffering from the current economic conditions. The Company determined that the lease and non-lease components in its leases are a single lease component, which is, therefore, being recognized as rental revenue in its consolidated statements of operations. The primary non-lease service that is included within rental revenue is CAM services provided as part of the Company’s real estate leases. Topic 842 requires that the Company capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. As of December 31, 2021, 2020 and 2019, the Company incurred $19, $67 and $191, respectively, of costs that were not incremental to the execution of leases, which are included in property operating expenses in its consolidated statements of operations. The Company manages the risk associated with the residual value of its leased properties by including contract clauses that make tenants responsible for surrendering the space in good condition upon lease termination, holding a diversified portfolio, and other activities . The Company does not have residual value guarantees on specific properties. The following table presents the Company’s classification of rental revenue for its operating leases for the year ended December 31, 2021 and 2020: Classification December 31, 2021 December 31, 2020 Fixed $ 287,552 $ 293,457 Variable (1)(2) 52,392 32,354 Total $ 339,944 $ 325,811 (1) Primarily comprised of tenant reimbursements. (2) Variable lease payments contain termination revenue of $15,371 and $857 for the year ending December 31, 2021 and 2020, respectively. The 2021 termination fee revenue primarily related to a tenant that terminated its lease at the Company's Durham, New Hampshire industrial property. Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of December 31, 2021 were as follows: Year ending December 31, Total 2022 $ 254,733 2023 258,475 2024 228,697 2025 208,404 2026 189,243 Thereafter 710,938 Total $ 1,850,490 The above minimum lease payments do not include reimbursements to be received from tenants for certain operating expenses and real estate taxes and do not include early termination payments provided for in certain leases, if not reasonably certain. Certain leases allow for the tenant to terminate the lease if the property is deemed obsolete, as defined, and upon payment of a termination fee to the landlord, as stipulated in the lease. In addition, certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price. Lessee The Company has ground leases, corporate leases for office space, and office equipment leases. All leases were classified as operating leases as of December 31, 2021. The leases have remaining lease terms of up to 39 years. Renewal periods are included in the lease term only when renewal is deemed to be reasonably certain. The lease term also includes periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and variable rental payments that tie to an index or a rate, such as CPI. Minimum lease payments for leases that commenced before the date of adoption of ASC 842 were determined based on previous leases guidance under ASC 840. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term and variable lease expense not included in the lease payment measurement as incurred. The accounting guidance under Topic 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or termination provisions and determining the discount rate. The Company determines whether an arrangement is or includes a lease at contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from and can direct the use of, the identified asset for a period of time, the Company accounts for the contract as a lease. As the Company does not know the rate implicit in the respective leases, the Company used its incremental borrowing rate based on the information available at the transition date for such existing leases. The Company uses the information available at the lease commencement date to determine the discount rate for any new leases. The Company used a portfolio approach to determine its incremental borrowing rate. Lease contracts were grouped based on similar lease terms and economic environments in a manner in which the Company reasonably expects that the outcome from applying a portfolio approach does not differ materially from an individual lease approach. The Company estimated a collateralized discount rate for each portfolio of leases. Supplemental information related to operating leases is as follows: The Year Ended December 31, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases (years) 9.7 11.7 Weighted-average discount rate Operating leases 4.0 % 4.1 % The components of lease expense for the year ended December 31, 2021 and 2020 were as follows: Income Statement Classification Fixed Variable Total 2021: Property operating $ 3,645 $ 3 $ 3,648 General and administrative 1,380 70 1,450 Total $ 5,025 $ 73 $ 5,098 2020: Property operating $ 3,969 $ 2 $ 3,971 General and administrative 1,348 105 1,453 Total $ 5,317 $ 107 $ 5,424 The Company recognized sublease income of $3,425, $3,756 and $3,764 in 2021, 2020 and 2019, respectively. The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2021: Year ending December 31, Operating Leases 2022 $ 5,046 2023 5,290 2024 5,199 2025 5,204 2026 4,174 Thereafter 11,174 Total lease payments 36,087 Less: Imputed interest (6,993) Present value of lease liabilities $ 29,094
Leases	Leases Lessor The Company's lease portfolio as a lessor primarily includes general purpose, single-tenant net-leased real estate assets. Most of the Company’s leases require tenants to pay fixed annual rental payments that escalate on an annual basis and variable payments for other operating expenses, such as real estate taxes, insurance, common area maintenance ("CAM"), and utilities, that are based on the actual expenses incurred. Certain leases allow for the tenant to renew the lease term upon expiration or earlier. Periods covered by a renewal option are included within the lease term only when renewals are deemed to be reasonably certain. Certain leases allow for the tenant to terminate the lease before the expiration of the lease term and certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price upon expiration of the lease term or before. Accounting guidance under Topic 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease and determining the lease term when the contract has renewal, purchase or early termination provisions. The Company analyzes its accounts receivable, customer creditworthiness and current economic trends when evaluating the adequacy of the collectability of the lessee's total accounts receivable balance on a lease by lease basis. In addition, tenants in bankruptcy are analyzed and considerations are made in connection with the expected pre-petition and post-petition claims. If a lessee's accounts receivable balance is considered uncollectable, the Company will write-off the receivable balances associated with the lease to rental revenue and cease to recognize lease income, including straight-line rent, unless cash is received. If the Company subsequently determines that it is probable it will collect substantially all of the lessee's remaining lease payments under the lease term; the Company will reinstate the straight-line balance adjusting for the amount related to the period when the lease was accounted for on a cash basis. In February 2020, the Company wrote off a deferred rent receivable balance of $615 as a reduction of rental revenue related to a tenant that dissolved and surrendered its leased premises in an industrial property located in the Columbus, Ohio market. During 2019, rental revenue was reduced by an aggregate of $352 for accounts receivable deemed uncollectible. Certain tenants have been experiencing financial difficulties as a result of the COVID-19 pandemic. During 2020, the Company wrote off aggregate deferred rent receivable balances of $1,383, as a reduction of rental revenue, related to tenants with rent collectability concerns. As of December 31, 2021 and 2020, the Company also wrote off or reserved an aggregate of $370 and $389, respectively, accounts receivable, net, relating to certain tenants suffering from the current economic conditions. The Company determined that the lease and non-lease components in its leases are a single lease component, which is, therefore, being recognized as rental revenue in its consolidated statements of operations. The primary non-lease service that is included within rental revenue is CAM services provided as part of the Company’s real estate leases. Topic 842 requires that the Company capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. As of December 31, 2021, 2020 and 2019, the Company incurred $19, $67 and $191, respectively, of costs that were not incremental to the execution of leases, which are included in property operating expenses in its consolidated statements of operations. The Company manages the risk associated with the residual value of its leased properties by including contract clauses that make tenants responsible for surrendering the space in good condition upon lease termination, holding a diversified portfolio, and other activities . The Company does not have residual value guarantees on specific properties. The following table presents the Company’s classification of rental revenue for its operating leases for the year ended December 31, 2021 and 2020: Classification December 31, 2021 December 31, 2020 Fixed $ 287,552 $ 293,457 Variable (1)(2) 52,392 32,354 Total $ 339,944 $ 325,811 (1) Primarily comprised of tenant reimbursements. (2) Variable lease payments contain termination revenue of $15,371 and $857 for the year ending December 31, 2021 and 2020, respectively. The 2021 termination fee revenue primarily related to a tenant that terminated its lease at the Company's Durham, New Hampshire industrial property. Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of December 31, 2021 were as follows: Year ending December 31, Total 2022 $ 254,733 2023 258,475 2024 228,697 2025 208,404 2026 189,243 Thereafter 710,938 Total $ 1,850,490 The above minimum lease payments do not include reimbursements to be received from tenants for certain operating expenses and real estate taxes and do not include early termination payments provided for in certain leases, if not reasonably certain. Certain leases allow for the tenant to terminate the lease if the property is deemed obsolete, as defined, and upon payment of a termination fee to the landlord, as stipulated in the lease. In addition, certain leases provide the tenant with the right to purchase the leased property at fair market value or a stipulated price. Lessee The Company has ground leases, corporate leases for office space, and office equipment leases. All leases were classified as operating leases as of December 31, 2021. The leases have remaining lease terms of up to 39 years. Renewal periods are included in the lease term only when renewal is deemed to be reasonably certain. The lease term also includes periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the termination option. The Company measures its lease payments by including fixed rental payments and variable rental payments that tie to an index or a rate, such as CPI. Minimum lease payments for leases that commenced before the date of adoption of ASC 842 were determined based on previous leases guidance under ASC 840. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term and variable lease expense not included in the lease payment measurement as incurred. The accounting guidance under Topic 842 requires the Company to make certain assumptions and judgments in applying the guidance, including determining whether an arrangement includes a lease, determining the term of a lease when the contract has renewal or termination provisions and determining the discount rate. The Company determines whether an arrangement is or includes a lease at contract inception by evaluating whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If the Company has the right to obtain substantially all of the economic benefits from and can direct the use of, the identified asset for a period of time, the Company accounts for the contract as a lease. As the Company does not know the rate implicit in the respective leases, the Company used its incremental borrowing rate based on the information available at the transition date for such existing leases. The Company uses the information available at the lease commencement date to determine the discount rate for any new leases. The Company used a portfolio approach to determine its incremental borrowing rate. Lease contracts were grouped based on similar lease terms and economic environments in a manner in which the Company reasonably expects that the outcome from applying a portfolio approach does not differ materially from an individual lease approach. The Company estimated a collateralized discount rate for each portfolio of leases. Supplemental information related to operating leases is as follows: The Year Ended December 31, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases (years) 9.7 11.7 Weighted-average discount rate Operating leases 4.0 % 4.1 % The components of lease expense for the year ended December 31, 2021 and 2020 were as follows: Income Statement Classification Fixed Variable Total 2021: Property operating $ 3,645 $ 3 $ 3,648 General and administrative 1,380 70 1,450 Total $ 5,025 $ 73 $ 5,098 2020: Property operating $ 3,969 $ 2 $ 3,971 General and administrative 1,348 105 1,453 Total $ 5,317 $ 107 $ 5,424 The Company recognized sublease income of $3,425, $3,756 and $3,764 in 2021, 2020 and 2019, respectively. The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2021: Year ending December 31, Operating Leases 2022 $ 5,046 2023 5,290 2024 5,199 2025 5,204 2026 4,174 Thereafter 11,174 Total lease payments 36,087 Less: Imputed interest (6,993) Present value of lease liabilities $ 29,094

Concentration of Risk

Concentration of Risk	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentration of Risk The Company seeks to reduce its operating and leasing risks through the geographic diversification of its properties, tenant industry diversification, avoidance of dependency on a single asset and the creditworthiness of its tenants. For the years ended December 31, 2021, 2020 and 2019, no single tenant represented greater than 10% of rental revenues. Cash and cash equivalent balances at certain institutions may exceed insurable amounts. The Company believes it mitigates this risk by investing in or through major financial institutions.

Equity

Equity	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Equity	Equity At-The-Market Offering Program. The Company maintains an At-The-Market offering program ("ATM program") under which the Company can issue common shares. The following table summarizes common share issuances under the ATM program: Year ended December 31, 2021 Shares Sold Net Proceeds 2021 ATM Issuances 1,052,800 $13,532 Year ended December 31, 2020 Shares Sold Net Proceeds 2020 ATM Issuances 5,950,882 $60,977 During 2021, the Company settled 4,990,717 common shares previously sold on a forward basis on the maturity date of the contract and received $53,567 of net proceeds. There were no forward settlements during 2020. As of December 31, 2021, an aggregate of 3,649,023 common shares were sold in forward sales contracts that had not been settled and had an aggregate settlement price of $38,544, which is subject to adjustment in accordance with the forward sales contracts. The Company expects to settle the forward sales contracts by the maturity dates in February 2022. In 2021, the Company amended the terms of its ATM offering program, under which the Company may, from time to time, sell up to $350,000 of common shares over the term of the program. As of December 31, 2021, commons shares with an aggregate value of $294,985 remain available for issuance under the ATM program. Underwritten Equity Offerings. During 2021, the Company entered into forward sales contracts for the sale of 16,000,000 common shares at a public offering price of $12.11 per common share in an underwritten equity offering that have not yet settled. Subject to the Company's rights to elect cash or net share settlement, the Company expects to settle the forward sales contracts by the maturity date in May 2022. As of December 31, 2021, the forward sales contracts had an aggregate settlement price $187,528, which is subject to adjustment in accordance with the forward sales contracts. During 2020, the Company issued 17,250,000 common shares at $9.60 per common share in an underwritten offering and generated net proceeds of approximately $164,000. The net proceeds were used for general corporate purposes, including acquisitions, and pending the application of the proceeds were used to pay down all the then outstanding balance under the Company's revolving credit facility. Stock Based Compensation. In addition, during the years ended December 31, 2021, 2020 and 2019, the Company issued 949,573, 756,380 and 896,807 of its common shares, respectively, to certain employees and trustees. Typically, trustee share grants vest immediately. Employee share grants generally vest ratably, on anniversaries of the grant date, however, in certain situations vesting is cliff-based after a specific number of years and/or subject to meeting certain performance criteria. Share Repurchase Program. In July 2015, the Company's Board of Trustees authorized the repurchase of up to 10,000,000 common shares and increased this authorization by 10,000,000 in 2018. This share repurchase program has no expiration date. During 2020 and 2019, the Company repurchased and retired, 1,329,940 and 441,581 common shares, respectively, at an average price of, $8.28 and $8.13, respectively, per common share under the share repurchase program. During 2021, there were no share repurchases. As of December 31, 2021, 8,976,315 common shares remain available for repurchase under this authorization. The Company records a liability for repurchases that have not yet been settled as of the period end. Series C Preferred Stock. The Company had 1,935,400 shares of Series C Cumulative Convertible Preferred Stock (“Series C Preferred”) outstanding at December 31, 2021. The shares have a dividend of $3.25 per share per annum, have a liquidation preference of $96,770, and the Company, if certain common share prices are achieved, can force conversion into common shares of the Company. As of December 31, 2021, each share was convertible into 2.4339 common shares. This conversion ratio may increase over time if the Company's common share dividend exceeds certain quarterly thresholds. If certain fundamental changes occur, holders may require the Company, in certain circumstances, to repurchase all or part of their shares of Series C Preferred. In addition, upon the occurrence of certain fundamental changes, the Company will, under certain circumstances, increase the conversion rate by a number of additional common shares or, in lieu thereof, may in certain circumstances elect to adjust the conversion rate upon the shares of Series C Preferred becoming convertible into shares of the public acquiring or surviving company. The Company may, at the Company's option, cause shares of Series C Preferred to be automatically converted into that number of common shares that are issuable at the then prevailing conversion rate. The Company may exercise its conversion right only if, at certain times, the closing price of the Company's common shares equals or exceeds 125% of the then prevailing conversion price of the Series C Preferred. Holders of shares of Series C Preferred generally have no voting rights, but will have limited voting rights if the Company fails to pay dividends for six or more quarters and under certain other circumstances. Upon conversion, the Company may choose to deliver the conversion value to investors in cash, common shares, or a combination of cash and common shares. A summary of the changes in accumulated other comprehensive income (loss) related to the Company's cash flow hedges is as follows: Twelve months ended December 31, 2021 2020 Balance at beginning of period $ (17,963) $ (1,928) Other comprehensive income (loss) before reclassifications 6,755 (19,422) Amounts of loss reclassified from accumulated other comprehensive loss to interest expense 4,950 3,387 Balance at end of period $ (6,258) $ (17,963) Noncontrolling Interests. In conjunction with several of the Company's acquisitions in prior years, sellers were issued limited partner interests in LCIF (“OP units”) OP units as a form of consideration. All OP units, other than OP units owned by the Company, are redeemable for common shares at certain times, at the option of the holders, and are generally not otherwise mandatorily redeemable by the Company. The OP units are classified as a component of permanent equity as the Company has determined that the OP units are not redeemable securities as defined by GAAP. Each OP unit is currently redeemable for approximately 1.13 common shares, subject to future adjustments. During 2021, LCIF redeemed and cancelled 1,598,906 OP units in connection with the disposition of the three properties. During 2021, 2020 and 2019, 185,270, 327,453 and 391,993 common shares, respectively, were issued by the Company, in connection with OP unit redemptions, for an aggregate value of $958, $1,614 and $1,655, respectively. As of December 31, 2021, there were approximately 775,000 OP units outstanding other than OP units owned by the Company. All OP units receive distributions in accordance with the LCIF partnership agreement. To the extent that the Company's dividend per common share is less than the stated distribution per OP unit per the LCIF partnership agreement, the distributions per OP unit are reduced by the percentage reduction in the Company's dividend per common share. No OP units have a liquidation preference. The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests: Net Income Attributable to Shareholders and Transfers from Noncontrolling Interests 2021 2020 2019 Net income attributable to LXP Industrial Trust shareholders $ 382,648 $ 183,302 $ 279,910 Transfers (to) from noncontrolling interests: Increase (decrease) in additional paid-in-capital for reallocation of noncontrolling interests 435 — (973) Increase in additional paid-in-capital for redemption of noncontrolling OP units 958 1,614 1,655 Change from net income attributable to shareholders and transfers from noncontrolling interests $ 384,041 $ 184,916 $ 280,592

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2021
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Benefit Plans	Benefit Plans Non-vested share activity for the years ended December 31, 2021 and 2020, is as follows: Number of Weighted-Average Grant-Date Fair Balance at December 31, 2019 2,941,412 $ 7.30 Granted 709,250 7.77 Vested (613,504) 8.80 Forfeited (332,429) 5.30 Balance at December 31, 2020 2,704,729 7.27 Granted 899,328 7.85 Vested (1,303,149) 7.82 Forfeited (10,264) 10.09 Balance at December 31, 2021 2,290,644 $ 7.17 During 2021 and 2020, the Company granted common shares to certain employees and trustees as follows: 2021 2020 Performance Shares (1) Shares issued: Index 297,636 232,993 Peer 297,632 232,987 Grant date fair value per share: (2) Index $ 7.13 $ 6.59 Peer $ 6.23 $ 5.97 Non-Vested Common Shares: (3) Shares issued 304,060 243,270 Grant date fair value $ 3,080 $ 2,581 (1) The shares vest based on the Company's total shareholder return growth after a three (2) The fair value of grants was determined at the grant date using a Monte Carlo simulation model. (3) The shares vest ratably over a three In addition, during 2021, 2020 and 2019, the Company issued 50,245, 47,130, and 67,226, respectively, of fully vested common shares to non-management members of the Company's Board of Trustees with a fair value of $587, $500, and $595, respectively. As of December 31, 2021, of the remaining 2,290,644 non-vested shares, 677,275 are subject to time-based vesting and 1,613,369 are subject to performance-based vesting. At December 31, 2021, there are 1,410,110 awards available for grant. The Company has $6,502 in unrecognized compensation costs relating to the non-vested shares that will be charged to compensation expense over an average of approximately 1.7 years. The Company has established a trust for certain officers in which vested common shares granted for the benefit of the officers are deposited. The officers exert no control over the common shares in the trust and the common shares are available to the general creditors of the Company. As of December 31, 2021 and 2020, there were 130,863 common shares in the trust. The Company sponsors a 401(k) retirement savings plan covering all eligible employees. The Company makes a discretionary matching contribution on a portion of employee participant salaries and, based on its profitability, may make an additional discretionary contribution at each fiscal year end to all eligible employees. These discretionary contributions are subject to vesting under a schedule providing for 25% annual vesting starting with the first year of employment and 100% vesting after four years of employment. Approximately $426, $393 and $403 of contributions are applicable to 2021, 2020 and 2019, respectively. During 2021, 2020 and 2019, the Company recognized $6,554, $6,185 and $5,831, respectively, in expense relating to scheduled vesting of common share grants.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThere were no related party transactions other than those disclosed elsewhere in the consolidated financial statements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes relates primarily to the taxable income of the Company's taxable REIT subsidiaries. The earnings, other than in taxable REIT subsidiaries, of the Company are not generally subject to federal income taxes at the Company level due to the REIT election made by the Company. Income taxes have been provided for on the asset and liability method. Under the asset and liability method, deferred income taxes are recognized for the temporary differences between the financial reporting basis and the tax basis of assets and liabilities. The Company's provision for income taxes for the years ended December 31, 2021, 2020 and 2019 is summarized as follows: 2021 2020 2019 Current: Federal $ (26) $ (173) $ (70) State and local (1,267) (1,411) (1,309) $ (1,293) $ (1,584) $ (1,379) The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows: 2021 2020 2019 Federal provision at statutory tax rate (21%) $ (35) $ (195) $ (73) State and local taxes, net of federal benefit — (77) (10) Other (1,258) (1,312) (1,296) $ (1,293) $ (1,584) $ (1,379) For the years ended December 31, 2021, 2020 and 2019, the “other” amount is comprised primarily of state franchise taxes of $1,267, $1,314 and $1,289, respectively. A summary of the average taxable nature of the Company's common dividends for each of the years in the 3-year period ended December 31, 2021, is as follows: 2021 2020 2019 Total dividends per share $ 0.430 $ 0.420 $ 0.485 Ordinary income 65.89 % 95.1 % 61.07 % Qualifying dividend 0.10 % 0.6 % 0.22 % Capital gain — — — Return of capital 34.01 % 4.3 % 38.71 % 100.00 % 100.00 % 100.00 % A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the 3-year period ended December 31, 2021, is as follows: 2021 2020 2019 Total dividends per share $ 3.25 $ 3.25 $ 3.25 Ordinary income 99.84 % 99.38 % 99.64 % Qualifying dividend 0.16 % 0.62 % 0.36 % Capital gain — — — Return of capital — — — 100.00 % 100.00 % 100.00 %

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In addition to the commitments and contingencies disclosed elsewhere, the Company has the following commitments and contingencies. The Company is obligated under certain tenant leases, including its proportionate share for leases for non-consolidated entities, to fund the expansion of the underlying leased properties. The Company, under certain circumstances, may guarantee to tenants the completion of base building improvements and the payment of tenant improvement allowances and lease commissions on behalf of its subsidiaries. As of December 31, 2021, the Company had five ongoing consolidated development projects and expects to incur approximately $312,000 of costs in 2022, excluding noncontrolling interests' share, to substantially complete the construction of such projects. As of December 31, 2021, the Company had two consolidated and two non-consolidated joint ventures that own land parcels held for development. The Company is unable to estimate the timing of any required fundings for potential development projects on these parcels. The Company and LCIF are parties to a funding agreement under which the Company may be required to fund distributions made on account of LCIF's OP units. Pursuant to the funding agreement, the parties agreed that, if LCIF does not have sufficient cash available to make a quarterly distribution to its limited partners in an amount in accordance with the partnership agreement, LXP Industrial Trust will fund the shortfall. Payments under the agreement will be made in the form of loans to LCIF and will bear interest at prevailing rates as determined by the Company in its discretion but, no less than the applicable federal rate. LCIF's right to receive these loans will expire if no OP units remain outstanding and all such loans are repaid. No amounts have been advanced under this agreement.

Supplemental Disclosure of Stat

Supplemental Disclosure of Statement of Cash Flow Information	12 Months Ended
	Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure of Statement of Cash Flow Information	Supplemental Disclosure of Statement of Cash Flow Information 2021 2020 2019 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents at beginning of period $ 178,795 $ 122,666 $ 168,750 Restricted cash at beginning of period 626 6,644 8,497 Cash, cash equivalents and restricted cash at beginning of period $ 179,421 $ 129,310 $ 177,247 Cash and cash equivalents at end of period $ 190,926 $ 178,795 $ 122,666 Restricted cash at end of period 101 626 6,644 Cash, cash equivalents and restricted cash at end of period $ 191,027 $ 179,421 $ 129,310 In addition to disclosures discussed elsewhere, during 2021, 2020 and 2019, the Company paid $44,234, $52,059 and $59,018, respectively, for interest and $1,569, $1,748 and $1,482, respectively, for income taxes. In 2021, LCIF disposed of three real estate assets. The consideration included the redemption of OP units valued at $22,305 and the assumption of the aggregate related non-recourse mortgage debt of $11,610. In 2021, as a result of the formation of the MFG Cold JV, the Company recognized a non-cash increase to investments in non-consolidated entities of $28,075 for its 20% interest in MFG Cold JV. Additionally, MFG Cold JV assumed a mortgage loan encumbering one property resulting in a non-cash decrease of $25,850 to mortgages and notes payable, net. The acquisition of the RR Ocala 44, LLC joint venture in 2021 included a $489 non-cash increase to investments in real estate under construction and the noncontrolling interest because a member of the joint venture made a non-cash contribution of the land in exchange for its ownership interest in the joint venture. In 2021 and 2020, the Company entered into new leases and exercised extension options on leases resulting in an aggregate non-cash increase of $1,589 and $719, respectively, to the related operating lease liabilities and right of use assets. In 2020, the Company sold its interest in a property, which included the assumption by the buyer of the related non-recourse mortgage debt of $178,662. As a result of the foreclosure of three office properties located in South Carolina, Kansas and Florida, during 2020, there was an aggregate non-cash charge of $57,356 and $28,078 in mortgages and notes payable, net, and real estate, net, respectively. During 2019, the Company assumed a $41,877 non-recourse mortgage debt upon the acquisition of a property. In addition, in 2019, the Company sold its interest in a property, which included the assumption by the buyer of the related non-recourse mortgage debt of $110,000.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsSubsequent to December 31, 2021 and in addition to disclosures elsewhere in the financial statements, the Company acquired two industrial properties for an aggregate cost of approximately $71,800

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation and Amortization	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III	Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired Date Constructed WAREHOUSE/DISTRIBUTION PROPERTIES Stabilized: Industrial Chandler, AZ $ — $ 10,733 $ 69,491 $ 80,224 $ 3,768 Nov-20 Industrial Goodyear, AZ — 5,247 36,115 41,362 5,088 Nov-18 Industrial Goodyear, AZ 41,646 11,970 48,925 60,895 4,584 Nov-19 Industrial Goodyear, AZ — 1,614 16,222 17,836 1,317 Jan-20 Industrial Goodyear, AZ — 11,732 49,758 61,490 345 Nov-21 2021 Industrial Tolleson, AZ — 3,311 16,013 19,324 1,589 Oct-19 Industrial Ocala, FL — 4,113 49,936 54,049 3,278 Jun-20 Industrial Orlando, FL — 1,030 10,869 11,899 4,597 Dec-06 Industrial Tampa, FL — 2,160 10,311 12,471 7,697 Jul-88 Industrial Austell, GA — 3,251 48,459 51,710 6,775 Jun-19 Industrial Cartersville, GA — 2,497 42,255 44,752 — Dec-21 Industrial Cartersville, GA — 2,006 33,276 35,282 — Dec-21 Industrial Fairburn, GA — 7,209 40,359 47,568 269 Nov-21 2021 Industrial McDonough, GA — 5,441 52,790 58,231 9,678 Aug-17 Industrial McDonough, GA — 3,253 30,956 34,209 3,936 Feb-19 Industrial Pooler, GA — 1,690 30,346 32,036 2,332 Apr-20 Industrial Rincon, GA — 3,775 34,325 38,100 1,896 Sep-20 Industrial Savannah, GA — 2,560 25,812 28,372 1,752 Jun-20 Industrial Savannah, GA — 1,070 7,458 8,528 508 Jun-20 Industrial Union City, GA — 2,536 22,830 25,366 2,520 Jun-19 Industrial Edwardsville, IL — 4,593 34,565 39,158 7,130 Dec-16 Industrial Edwardsville, IL — 3,649 41,310 44,959 6,524 Jun-18 Industrial Minooka, IL — 1,788 34,301 36,089 2,747 Jan-20 Industrial Minooka, IL — 3,432 40,949 44,381 3,550 Dec-19 Industrial Minooka, IL — 3,681 45,817 49,498 3,873 Jan-20 Industrial Rantoul, IL — 1,304 32,562 33,866 7,157 Jan-14 2014 Industrial Rockford, IL — 371 2,647 3,018 1,109 Dec-06 Industrial Rockford, IL — 509 5,921 6,430 2,234 Dec-06 Industrial Lafayette, IN — 662 15,578 16,240 3,401 Oct-17 Industrial Lebanon, IN — 2,100 29,996 32,096 5,985 Feb-17 Industrial Whiteland, IN — 741 14,488 15,229 157 Oct-21 Industrial Whiteland, IN — 1,991 39,338 41,329 439 Oct-21 Industrial Whiteland, IN — 695 13,958 14,653 151 Oct-21 Industrial Whitestown, IN — 1,162 11,825 12,987 475 Jan-21 Industrial Whitestown, IN — 1,954 17,011 18,965 2,171 Jan-19 Industrial Whitestown, IN — 1,208 12,052 13,260 485 Jan-21 Industrial Whitestown, IN — 8,335 80,051 88,386 — Dec-21 Industrial New Century, KS — — 13,424 13,424 2,898 Feb-17 Industrial Shreveport, LA — 1,078 10,134 11,212 3,379 Jun-12 2012 Industrial Shreveport, LA — 860 21,840 22,700 8,075 Mar-07 Industrial Detroit, MI — 1,133 25,009 26,142 7,805 Jan-16 Industrial Romulus, MI — 2,438 33,786 36,224 7,389 Nov-17 Industrial Minneapolis, MN — 1,886 1,922 3,808 559 Sep-12 Industrial Byhalia, MS — 1,006 35,795 36,801 9,570 May-11 2011 Industrial Byhalia, MS — 1,751 31,429 33,180 7,735 Sep-17 Industrial Canton, MS — 5,077 71,289 76,366 23,310 Mar-15 Industrial Olive Branch, MS — 2,500 42,556 45,056 7,299 Apr-18 Industrial Olive Branch, MS — 1,958 38,702 40,660 6,710 Apr-18 Industrial Olive Branch, MS — 2,646 40,446 43,092 4,497 May-19 Industrial Olive Branch, MS — 851 15,464 16,315 1,699 May-19 Industrial Henderson, NC — 1,488 7,222 8,710 3,091 Nov-01 Industrial Shelby, NC — 1,421 18,862 20,283 7,420 Jun-11 2011 Industrial Statesville, NC — 891 18,594 19,485 7,036 Dec-06 Industrial Erwin, NY — 1,648 12,514 14,162 4,488 Sep-12 Industrial Long Island City, NY 28,980 — 42,759 42,759 25,128 Mar-13 2013 Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired Date Constructed Industrial Chillicothe, OH — 735 10,939 11,674 4,315 Oct-11 Industrial Columbus, OH — 2,251 25,280 27,531 364 Aug-21 Industrial Glenwillow, OH — 2,228 24,530 26,758 9,570 Dec-06 Industrial Hebron, OH — 1,063 4,947 6,010 2,565 Dec-97 Industrial Hebron, OH — 2,052 8,179 10,231 4,373 Dec-01 Industrial Lockbourne, OH — 2,800 16,731 19,531 626 Mar-21 2021 Industrial Monroe, OH — 1,109 16,477 17,586 419 Dec-21 Industrial Monroe, OH — 544 12,370 12,914 1,236 Sep-19 Industrial Monroe, OH — 3,123 60,702 63,825 6,321 Sep-19 Industrial Monroe, OH — 3,950 88,422 92,372 8,867 Sep-19 Industrial Streetsboro, OH — 2,441 25,282 27,723 11,970 Jun-07 Industrial Wilsonville, OR — 6,815 32,424 39,239 7,444 Sep-16 Industrial Bristol, PA — 2,508 15,863 18,371 9,355 Mar-98 Industrial Duncan, SC — 2,819 24,508 27,327 529 Jul-21 Industrial Duncan, SC — 1,169 23,070 24,239 490 Jul-21 Industrial Duncan, SC — 1,020 17,444 18,464 371 Jul-21 Industrial Duncan, SC — 1,710 27,817 29,527 594 Jul-21 Industrial Duncan, SC — 1,406 14,272 15,678 1,395 Oct-19 Industrial Duncan, SC — 1,257 13,252 14,509 1,300 Oct-19 Industrial Duncan, SC — 1,615 27,830 29,445 3,284 Apr-19 Industrial Greer, SC — 2,376 32,127 34,503 687 Jun-21 Industrial Greer, SC — 6,959 78,405 85,364 6,661 Dec-19 Industrial Spartanburg, SC — 1,447 23,758 25,205 4,267 Aug-18 Industrial Spartanburg, SC — 1,186 15,820 17,006 697 Dec-20 Industrial Antioch, TN — 3,847 13,926 17,773 5,152 May-07 Industrial Cleveland, TN — 1,871 29,743 31,614 6,056 May-17 Industrial Jackson, TN — 1,454 49,132 50,586 8,928 Sep-17 Industrial Lewisburg, TN — 173 10,865 11,038 2,601 May-14 Industrial Millington, TN — 723 20,383 21,106 15,590 Apr-05 Industrial Smyrna, TN — 1,793 93,940 95,733 17,523 Sep-17 Industrial Carrollton, TX — 3,228 16,234 19,462 3,301 Sep-18 Industrial Dallas, TX — 2,420 23,330 25,750 2,628 Apr-19 Industrial Deer Park, TX — 6,489 28,470 34,959 828 May-21 Industrial Grand Prairie, TX — 3,166 17,985 21,151 3,509 Jun-17 Industrial Houston, TX — 15,055 57,949 73,004 15,783 Mar-13 Industrial Hutchins, TX — 1,307 8,466 9,773 596 May-20 Industrial Lancaster, TX — 3,847 25,037 28,884 1,098 Dec-20 Industrial Missouri City, TX — 14,555 5,895 20,450 5,895 Apr-12 Industrial Northlake, TX — 4,500 71,636 76,136 5,614 Feb-20 Industrial Northlake, TX — 3,938 37,189 41,127 1,802 Dec-20 Industrial Pasadena, TX — 2,202 17,096 19,298 1,104 Jun-20 Industrial Pasadena, TX — 4,272 22,296 26,568 642 May-21 Industrial Pasadena, TX — 1,792 9,089 10,881 259 May-21 Industrial Pasadena, TX — 4,057 17,810 21,867 2,713 Aug-18 Industrial San Antonio, TX — 1,311 36,644 37,955 7,093 Jun-17 Industrial Chester, VA — 8,544 53,067 61,611 8,123 Dec-18 Industrial Winchester, VA — 1,988 32,536 34,524 5,567 Dec-17 Industrial Winchester, VA — 3,823 12,276 16,099 5,222 Jun-07 Industrial Winchester, VA — 2,818 24,422 27,240 1,427 Sep-20 Not stabilized: Industrial Phoenix, AZ — 8,027 73,650 81,677 — Dec-21 Industrial Lakeland, FL — 1,416 20,140 21,556 782 Jan-21 Industrial Plant City, FL — 2,610 45,983 48,593 1,165 Jun-21 Industrial Adairsville, GA — 1,465 23,649 25,114 — Dec-21 Industrial Greer, SC — 1,329 21,465 22,794 465 Jun-21 OTHER PROPERTIES Other Palo Alto, CA 13,803 12,400 16,977 29,377 26,886 Dec-06 Description Location Encumbrances Land and Land Estates Buildings and Improvements Total Accumulated Depreciation and Amortization (1) Date Acquired Date Constructed Other McDonough, GA — 2,463 24,811 27,274 9,718 Dec-06 Other Owensboro, KY — 819 2,439 3,258 1,324 Dec-06 Other Baltimore, MD — 4,605 — 4,605 — Dec-06 Construction in progress — — — 5,482 — Deferred loan costs, net (1,337) — — — — $ 83,092 $ 342,895 $ 3,235,601 $ 3,583,978 $ 504,699 (1) Depreciation and amortization expense is calculated on a straight-line basis over the following lives: Building and improvements Up to 40 years Land estates Up to 51 years Tenant improvements Shorter of useful life or term of related lease The initial cost includes the purchase price paid directly or indirectly by the Company. The total cost basis of the Company's properties at December 31, 2021 for federal income tax purposes was approximately $4.2 billion. 2021 2020 2019 Reconciliation of real estate, at cost: Balance at the beginning of year $ 3,514,564 $ 3,320,574 $ 3,090,134 Additions during year 860,311 580,861 663,742 Properties sold and impaired during the year (653,247) (354,218) (496,730) Other reclassifications (137,650) (32,653) 63,428 Balance at end of year $ 3,583,978 $ 3,514,564 $ 3,320,574 Reconciliation of accumulated depreciation and amortization: Balance at the beginning of year $ 684,468 $ 675,596 $ 722,644 Depreciation and amortization expense 138,879 127,504 118,525 Accumulated depreciation and amortization of properties sold and impaired during year (244,751) (102,261) (177,709) Other reclassifications (73,897) (16,371) 12,136 Balance at end of year $ 504,699 $ 684,468 $ 675,596

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation. The Company's consolidated financial statements are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial statements reflect the accounts of the Company and its consolidated subsidiaries. The Company consolidates its wholly-owned subsidiaries, partnerships and joint ventures which it controls (i) through voting rights or similar rights or (ii) by means other than voting rights if the Company is the primary beneficiary of a variable interest entity ("VIE"). Entities which the Company does not control and entities which are VIEs in which the Company is not the primary beneficiary are accounted for under the equity method of accounting.
Revenue Recognition	Revenue Recognition. The Company recognizes lease revenue on a straight-line basis over the term of the lease unless another systematic and rational basis is more representative of the time pattern in which the use benefit is derived from the leased property. Revenue is recognized on a contractual basis for leases with escalations tied to a consumer price index with no floor. The Company evaluates the collectability of its rental payments and recognizes revenue on a cash basis when the Company believes it is no longer probable that it will receive substantially all of the remaining lease payments. Renewal options in leases are excluded from the calculation of straight-line rent if the renewals are not reasonably assured. If the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. If the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition when possession or control of the space is turned over to the tenant for tenant work to begin. The lease incentive is recorded as a deferred expense and amortized as a reduction of revenue on a straight-line basis over the respective lease term. The Company recognizes lease termination fees as rental revenue in the period received and writes off unamortized lease-related intangible and other lease-related account balances, provided there are no further Company obligations under the lease. Otherwise, such fees and balances are recognized on a straight-line basis over the remaining obligation period with the termination payments being recorded as a component of rent receivable-deferred on the consolidated balance sheets.
Earnings Per Share	Earnings Per Share . Basic net income (loss) per share is computed under the two-class method by dividing net income (loss) reduced by preferred dividends and amounts allocated to certain non-vested share-based payment awards, if applicable, by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share amounts are similarly computed but include the effect, when dilutive, of in-the-money common share options and non-vested common shares, unsettled common shares sold in forward sales transactions, OP units and put options of certain convertible securities.
Use of Estimates	Use of Estimates. Management has made a number of significant estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses to prepare these consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the economic environment. Management adjusts such estimates when facts and circumstances dictate. The most significant estimates made include the recoverability of accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, the determination of VIEs and which entities should be consolidated, the determination of impairment of long-lived assets and equity method investments, valuation of derivative financial instruments, valuation of awards granted under compensation plans, the determination of the incremental borrowing rate for leases where the Company is the lessee and the useful lives of long-lived assets. Actual results could differ materially from those estimates.
Acquisition of Real Estate	Acquisition of Real Estate. The fair value of the real estate acquired, which includes the impact of fair value adjustments for assumed mortgage debt related to property acquisitions, is allocated to the acquired tangible assets, consisting of land, building and improvements and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and value of tenant relationships, based in each case on their fair values. The Company's acquisitions are primarily considered asset acquisitions, thus acquisition costs are capitalized. The fair value of the tangible assets of an acquired property (which includes land, building and improvements and fixtures and equipment) is determined by valuing the property as if it were vacant. The “as-if-vacant” value is then allocated to land and building and improvements based on management's determination of relative fair values of these assets. Factors considered by management in performing these analyses include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions. Management generally retains a third party to assist in the allocations. In allocating the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market lease values are recorded based on the difference between the current in-place lease rent and management's estimate of current market rents. Below-market lease intangibles are recorded as part of deferred revenue and amortized into rental revenue over the non-cancelable periods and bargain renewal periods of the respective leases. Above-market leases are recorded as part of intangible assets and amortized as a direct charge against rental revenue over the non-cancelable portion of the respective leases. The aggregate value of other acquired intangible assets, consisting of in-place leases and tenant relationship values, is measured by the excess of (1) the purchase price paid for a property over (2) the estimated fair value of the property as if vacant, determined as set forth above. This aggregate value is allocated between in-place lease values and tenant relationship values based on management's evaluation of the specific characteristics of each tenant's lease. The value of in-place leases is amortized to expense over the remaining non-cancelable periods and any bargain renewal periods of the respective leases. The value of tenant relationships is amortized to expense over the applicable lease term plus expected renewal periods. Depreciation is determined by the straight-line method over the remaining estimated economic useful lives of the properties. The Company generally depreciates its real estate assets over periods ranging up to 40 years.
Impairment of Real Estate	Impairment of Real Estate. The Company evaluates the carrying value of all tangible and intangible real estate assets held for investment for possible impairment when an event or change in circumstance has occurred that indicates its carrying value may not be recoverable. The Company considers the strategic decisions regarding the future plans to sell properties and other market factors. The Company regularly updates significant estimates and assumptions including rental rates, capitalization rates and discount rates, which are included in the anticipated future undiscounted cash flows derived from the asset. If such cash flows are less than the asset's carrying value, an impairment charge is recognized to the extent by which the asset's carrying value exceeds its estimated fair value, which may be below the balance of any non-recourse financing. Estimating future cash flows and fair values is highly subjective and such estimates could differ materially from actual results.
Investments in Non-Consolidated Entities	Investments in Non-Consolidated Entities . The Company uses the equity method of accounting for those joint ventures where it exercises significant influence but does not have control. If the Company's investment in the entity is insignificant and the Company has no influence over the control of the entity then the entity is accounted for under the cost method.
Impairment of Equity Method Investments	Impairment of Equity Method Investments. The Company assesses whether there are indicators that the value of its equity method investments may be impaired. An impairment charge is recognized only if the Company determines that a decline in the value of the investment below its carrying value is other-than-temporary. The assessment of impairment is highly subjective and involves the application of significant assumptions and judgments about the Company's intent and ability to recover its investment given the nature and operations of the underlying investment, including the level of the Company's involvement therein, among other factors. To the extent an impairment is deemed to be other-than-temporary, the loss is measured as the excess of the carrying amount of the investment over the estimated fair value of the investment.
Fair Value Measurements	Fair Value Measurements. The Company follows the guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures ("Topic 820"), to determine the fair value of financial and non-financial instruments. Topic 820 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. Topic 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices that are based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs, which are used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, as well as considering counterparty credit risk. The Company has formally elected to apply the portfolio exception within Topic 820 with respect to measuring counterparty risk for all of its derivative transactions subject to master netting arrangements. The Company estimates the fair value of its real estate assets, including non-consolidated real estate assets, by using income and market valuation techniques. The Company may estimate fair values using market information such as recent sale contracts (Level 2 inputs) or recent sale offers or discounted cash flow models, which primarily rely on Level 3 inputs. The cash flow models include estimated cash inflows and outflows over a specified holding period. These cash flows may include contractual rental revenues, projected future rental revenues and expenses and forecasted tenant improvements and lease commissions based upon market conditions determined through discussion with local real estate professionals, experience the Company has with its other owned properties in such markets and expectations for growth. Capitalization rates and discount rates utilized in these models are estimated by management based upon rates that management believes to be within a reasonable range of current market rates for the respective properties based upon an analysis of factors such as property and tenant quality, geographical location and local supply and demand observations. To the extent the Company under-estimates forecasted cash outflows (tenant improvements, lease commissions and operating costs) or over-estimates forecasted cash inflows (rental revenue rates), the estimated fair value of its real estate assets could be overstated.
Cost Capitalization	Cost Capitalization. The Company capitalizes interest and direct and indirect project costs associated with the initial construction of a property up to the time the property is substantially complete and ready for its intended use in real estate under construction in the consolidated balance sheets. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once necessary work has been completed on a vacant space, project costs are no longer capitalized.
Properties Held For Sale	Properties Held For Sale. Assets and liabilities of properties that meet various held for sale criteria, including whether it is probable that a sale will occur within 12 months, are presented separately in the consolidated balance sheets. The operating results of these properties are reflected as discontinued operations in the consolidated statements of operations only if the sale of these assets represents a major strategic shift in operations; if not, the operating results are included in continuing operations. Properties classified as held for sale are carried at the lower of net carrying value or estimated fair value less costs to sell and depreciation and amortization are no longer recognized. Properties that do not meet the held for sale criteria are accounted for as operating properties.
Deferred Expenses	Deferred Expenses. Deferred expenses consist primarily of revolving line of credit debt and leasing costs. Debt costs are amortized using the straight-line method, which approximates the interest method, over the terms of the debt instruments and leasing costs are amortized over the term of the related lease.
Derivative Financial Instruments	Derivative Financial Instruments . The Company accounts for its interest rate swap agreements in accordance with FASB ASC Topic 815, Derivatives and Hedging ("Topic 815"). In accordance with Topic 815, these agreements are carried on the balance sheet at their respective fair values, as an asset if fair value is positive, or as a liability if fair value is negative. If the interest rate swap is designated as a cash flow hedge, the portion of the interest rate swap's change in fair value is reported as a component of other comprehensive income (loss). Upon entering into hedging transactions, the Company documents the relationship between the interest rate swap agreement and the hedged item. The Company also documents its risk-management policies, including objectives and strategies, as they relate to its hedging activities. The Company assesses, both at inception of a hedge and on an ongoing basis, whether or not the hedge is highly effective. The Company will discontinue hedge accounting on a prospective basis with changes in the estimated fair value reflected in earnings when (1) it is determined that the derivative is no longer effective in offsetting cash flows of a hedged item (including forecasted transactions), (2) it is no longer probable that the forecasted transaction will occur or (3) it is determined that designating the derivative as an interest rate swap is no longer appropriate. The Company does and may continue to utilize interest rate swap and cap agreements to manage interest rate risk, but does not anticipate entering into derivative transactions for speculative trading purposes.
Stock Compensation	Stock Compensation. The Company maintains an equity participation plan. Non-vested share grants generally vest either based upon (1) time, (2) performance and/or (3) market conditions. All share-based payments to employees are recognized in the consolidated statements of operations based on their fair values.
Tax Status	Tax Status. The Company has made an election to qualify, and believes it is operating so as to qualify, as a REIT for federal income tax purposes. Accordingly, the Company generally will not be subject to federal income tax, provided that distributions to its shareholders equal at least the amount of its REIT taxable income as defined under Sections 856 through 860 of the Code. The Company is permitted to participate in certain activities from which it was previously precluded in order to maintain its qualification as a REIT, so long as these activities are conducted in entities which elect to be treated as taxable REIT subsidiaries under the Code. As such, the Company is subject to federal and state income taxes on the income from these activities. Income taxes, primarily related to the Company's taxable REIT subsidiaries, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.
Cash and Cash Equivalents	Cash and Cash Equivalents. The Company considers all highly liquid instruments with maturities of three months or less from the date of purchase to be cash equivalents.
Restricted Cash	Restricted Cash. Restricted cash is comprised primarily of cash balances held by lenders and operating cash reserves held in escrow for one property.
Environmental Matters	Environmental Matters. Under various federal, state and local environmental laws, statutes, ordinances, rules and regulations, an owner of real property may be liable for the costs of removal or remediation of certain hazardous or toxic substances at, on, in or under such property as well as certain other potential costs relating to hazardous or toxic substances. These liabilities may include government fines, penalties and damages for injuries to persons and adjacent property. Such laws often impose liability without regard to whether the owner knew of, or was responsible for, the presence or disposal of such substances. Although most of the tenants of properties in which the Company has an interest are primarily responsible for any environmental damage and claims related to the leased premises, in the event of the bankruptcy or inability of the tenant of such premises to satisfy any obligations with respect to such environmental liability, or if the tenant is not responsible, the Company's property owner subsidiary may be required to satisfy any such obligations, should they exist. In addition, the property owner subsidiary, as the owner of such a property, may be held directly liable for any such damages or claims irrespective of the provisions of any lease.
Segment Reporting	Segment Reporting. The Company operates generally in one industry segment, single-tenant real estate assets.
Reclassification	Reclassifications. Certain amounts included in prior years' financial statements have been reclassified to conform to the current year's presentation.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance . In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts that reference the London Interbank Offered Rate, or LIBOR, or another reference rate expected to be discontinued because of reference rate reform. The guidance in ASU 2020-04 is optional, applies for a limited period of time to ease the potential burden in accounting for (or recognizing the effect of) reference rate reform on financial reporting, in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of LIBOR and may be elected over time as reference rate reform activities occur. As of March 31, 2020, the Company has elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In July 2021, the FASB issued ASU 2021-05, Lease (Topic 842): Lessors-Certain Leases with Variable Lease Payments, to amend the guidance to provide alternative accounting for sales type and direct finance leases with variable lease payments. The amendments in ASU 2021-05 amend the accounting guidance to allow lessors to classify and account for variable leases payments that do no depend on a reference index or a rate as an operating lease if certain criteria are met. The standard is effective for fiscal years beginning after December 15, 2021 with early adoption permitted. The Company does not currently have any leases that are classified as sales-type or direct finance leases. Therefore, the Company early adopted the measure on a prospective basis to applicable leases that commenced or were modified on or after July 1, 2021.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Variable Interest Entities	Below is a summary of selected financial data of consolidated VIEs for which the Company is the primary beneficiary included in the consolidated balance sheets as of December 31, 2021 and 2020: December 31, 2021 December 31, 2020 Real estate, net $ 810,087 $ 569,461 Total assets $ 952,611 $ 679,786 Mortgages and notes payable, net $ — $ 25,600 Total liabilities $ 47,011 $ 40,974

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for each of the years in the three-year period ended December 31, 2021: 2021 2020 2019 BASIC Net income attributable to common shareholders $ 375,848 $ 176,788 $ 273,225 Weighted-average number of common shares outstanding 277,640,835 266,914,843 237,642,048 Net income attributable to common shareholders - per common share basic $ 1.35 $ 0.66 $ 1.15 2021 2020 2019 DILUTED: Net income attributable to common shareholders - basic $ 375,848 $ 176,788 $ 273,225 Impact of assumed conversions 7,962 — — Net income attributable to common shareholders $ 383,810 $ 176,788 $ 273,225 Weighted-average common shares outstanding - basic 277,640,835 266,914,843 237,642,048 Effect of dilutive securities: Unvested share-based payment awards and options 989,177 1,267,709 292,467 Shares issuable under forward sales agreements 2,110,315 — — Operating Partnership Units 1,918,845 — — Series C Cumulative Convertible Preferred 4,710,570 — — Weighted-average common shares outstanding - diluted 287,369,742 268,182,552 237,934,515 Net income attributable to common shareholders - per common share diluted $ 1.34 $ 0.66 $ 1.15

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate Investments, Net [Abstract]
Schedule of Net Real Estate	The Company's real estate, net, consists of the following at December 31, 2021 and 2020: 2021 2020 Real estate, at cost: Buildings and building improvements $ 3,235,601 $ 3,144,176 Land, land estates and land improvements 342,895 367,272 Construction in progress 5,482 3,116 Real estate intangibles: In-place lease values 320,847 357,640 Tenant relationships 13,205 33,327 Above-market leases 7,351 18,326 Land held for development 104,160 — Investments in real estate under construction 161,165 75,906 4,190,706 3,999,763 Accumulated depreciation and amortization (1) (655,740) (884,465) Real estate, net $ 3,534,966 $ 3,115,298 (1) Includes accumulated amortization of real estate intangible assets of $151,041 and $199,997 in 2021 and 2020, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $33,710 in 2022, $32,501 in 2023, $26,638 in 2024, $22,709 in 2025 and $19,701 in 2026. As of December 31, 2021, the details of the development arrangements outstanding are as follows (in $000's, except square feet): Project (% owned) # of Buildings Market Estimated Sq. Ft. Estimated Project Cost GAAP Investment Balance as of Amount Funded as of 12/31/2021 (4) Estimated Building Completion Date % Leased as of The Cubes at Etna East (95%) (1)(2) 1 Columbus, OH 1,074,840 $ 72,100 $ 33,002 $ 22,471 2Q 2022 — % Mt. Comfort (80%) (1) 1 Indianapolis, IN 1,053,360 60,300 30,012 21,977 3Q 2022 — % Cotton 303 (93%) (1) 2 Phoenix, AZ 880,678 84,200 30,263 24,475 3Q 2022 — % Ocala (80%) (1) 1 Central Florida 1,085,280 80,900 32,186 21,186 3Q 2022 — % Smith Farms (90%) (1)(3) 3 Greenville-Spartanburg, SC 2,194,820 162,100 35,702 21,433 4Q 2022 - 2Q 2023 36 % $ 459,600 $ 161,165 $ 111,542 (1) Estimated project cost includes estimated tenant improvements and leasing costs and excludes potential developer partner promote. (2) Land parcel distributed from the Etna Park 70 East joint venture during the fourth quarter. (3) Preleased one 797,936 square foot facility subject to a 12-year lease commencing upon substantial completion of the facility. (4) Excludes noncontrolling interests' share.
Schedule of Acquired Properties	The Company completed the following acquisitions during 2021 and 2020: 2021: Market (1) Acquisition/Completion Date Initial Primary Lease Expiration at Acquisition Land Building and Improvements Lease in-place Value Intangible Above (Below) Market Lease Intangible Indianapolis, IN January 2021 $ 14,310 12/2024 $ 1,208 $ 12,052 $ 1,035 $ 15 Indianapolis, IN January 2021 14,120 08/2025 1,162 11,825 1,133 — Central Florida January 2021 22,358 05/2031 1,416 19,910 1,032 — Columbus, OH (2) March 2021 19,531 03/2024 2,800 16,731 — — Houston, TX May 2021 28,293 08/2028 4,272 22,296 1,725 — Houston, TX May 2021 37,686 12/2026 6,489 28,470 2,727 — Houston, TX May 2021 11,512 08/2024 1,792 9,089 631 — Cincinnati/Dayton, OH June 2021 18,674 06/2023 1,109 16,477 1,088 — Central Florida June 2021 48,593 N/A 2,610 45,983 — — Greenville-Spartanburg, SC June 2021 36,903 09/2025 2,376 32,121 2,406 — Greenville-Spartanburg, SC June 2021 23,812 06/2026 1,329 21,419 1,064 — Greenville-Spartanburg, SC July 2021 29,421 04/2029 2,819 24,508 2,094 — Greenville-Spartanburg, SC July 2021 26,106 12/2029 1,169 23,070 1,867 — Greenville-Spartanburg, SC (3) July 2021 18,394 N/A 1,020 17,374 — — Greenville-Spartanburg, SC July 2021 31,646 09/2026 1,710 27,817 2,119 — Columbus, OH August 2021 29,265 11/2029 2,251 25,184 1,830 — Indianapolis, IN October 2021 16,315 12/2026 741 14,488 1,086 — Indianapolis, IN October 2021 44,479 03/2031 1,991 39,338 3,150 — Indianapolis, IN October 2021 15,644 12/2026 695 13,958 991 — Atlanta, GA (2)(4) November 2021 47,568 10/2028 7,209 40,359 — — Phoenix, AZ (2) November 2021 61,490 11/2036 11,732 49,758 — — Phoenix, AZ December 2021 83,517 12/2031 8,027 73,650 1,840 — Indianapolis, IN December 2021 93,899 11/2031 8,335 80,051 5,513 — Atlanta, GA December 2021 37,625 07/2031 2,006 33,276 2,343 — Atlanta, GA December 2021 47,618 09/2031 2,497 42,255 2,866 — Atlanta, GA December 2021 26,838 09/2025 1,465 23,649 1,724 — $ 885,617 $ 80,230 $ 765,108 $ 40,264 $ 15 Weighted-average life of intangible assets (years) 7.3 3.5 (1) A land parcel located in Hebron, OH was also purchased for $371. (2) Development project substantially completed and placed into service. (3) Subsequent to acquisition, property fully leased for 5.5 years. (4) Initial basis excludes certain remaining costs, including developer partner promote. 2020: Market Acquisition Date Initial Lease Expiration Land Building and Improvements Lease in-place Value Intangible Chicago, IL January 2020 $ 53,642 11/2029 $ 3,681 $ 45,817 $ 4,144 Phoenix, AZ January 2020 19,164 12/2025 1,614 16,222 1,328 Chicago, IL January 2020 39,153 12/2029 1,788 34,301 3,064 Dallas, TX February 2020 83,495 08/2029 4,500 71,635 7,360 Savannah, GA April 2020 34,753 07/2027 1,689 30,346 2,718 Dallas, TX May 2020 10,731 06/2030 1,308 8,466 957 Savannah, GA June 2020 30,448 06/2025 2,560 25,697 2,191 Savannah, GA June 2020 9,130 08/2025 1,070 7,448 612 Houston, TX June 2020 20,949 04/2025 2,202 17,101 1,646 Ocala, FL June 2020 58,283 08/2030 4,113 49,904 4,266 DC/Baltimore, MD September 2020 29,143 11/2024 2,818 24,423 1,902 Savannah, GA September 2020 40,908 07/2026 3,775 34,322 2,811 Phoenix, AZ November 2020 87,820 03/2033 10,733 69,491 7,596 Dallas, TX December 2020 44,030 10/2024 3,938 37,185 2,907 Greenville-Spartanburg, SC December 2020 18,595 02/2031 1,186 15,814 1,595 Dallas, TX December 2020 31,556 01/2030 3,847 25,038 2,671 $ 611,800 $ 50,822 $ 513,210 $ 47,768 Weighted-average life of intangible assets (years) 8.7

Dispositions and Impairment (Ta

Dispositions and Impairment (Tables)	12 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities of Held for Sale Properties	Assets and liabilities of the held for sale properties as of December 31, 2021 and December 31, 2020 consisted of the following: December 31, 2021 December 31, 2020 Assets: Real estate, at cost $ 170,117 $ 32,629 Real estate, intangible assets 9,454 7,941 Accumulated depreciation and amortization (99,659) (24,312) Deferred expenses, net 1,759 — Other 915 272 $ 82,586 $ 16,530 Liabilities: Accounts payable and other liabilities $ 1,908 $ 588 Deferred revenue 483 — Prepaid rent 1,077 202 $ 3,468 $ 790

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurement Inputs	The following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2021 and 2020, aggregated by the level in the fair value hierarchy within which those measurements fall: Fair Value Measurements Using Description 2021 (Level 1) (Level 2) (Level 3) Interest rate swap liabilities $ (6,258) $ — $ (6,258) $ — Impaired real estate assets (1) $ 12,735 $ — $ — $ 12,735 (1) Represents non-recurring fair value measurement. The Company measured the $12,735 fair value based on a discounted cash flow analysis, using a discount rate ranging from 8.0% to 10.0% and a residual capitalization rate ranging from 7.5% to 8.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy. Fair Value Measurements Using Description 2020 (Level 1) (Level 2) (Level 3) Interest rate swap liabilities $ (17,963) $ — $ (17,963) $ — Impaired real estate assets (1) $ 21,141 $ — $ 2,480 $ 18,661 (1) Represents non-recurring fair value measurement. The fair value is calculated as of the impairment date. $2,480 was based on an observable contract thus Level 2. The Company measured $18,661 of these fair values based on a discounted cash flow analysis, using a discount rate of 9.0% and residual capitalization rates ranging from 8.0% to 9.0%. As significant inputs to the models are unobservable, the Company determined that the value determined for these properties falls within Level 3 of the fair value reporting hierarchy.
Schedule of Carrying Amounts and Fair Value of Financial Instruments	The table below sets forth the carrying amounts and estimated fair values of the Company's financial instruments as of December 31, 2021 and 2020: As of December 31, 2021 As of December 31, 2020 Carrying Fair Value Carrying Fair Value Liabilities Debt $ 1,497,064 $ 1,491,868 $ 1,341,242 $ 1,368,151

Investments in Non-Consolidat_2

Investments in Non-Consolidated Entities Investments in Non-Consolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments in and Advances to Affiliates	Below is a schedule of the Company's investments in non-consolidated entities: Percentage Ownership at Investment Balance as of Investment December 31, 2021 December 31, 2021 December 31, 2020 MFG Cold JV (1) 20% $ 30,752 $ — NNN Office JV L.P. (2) 20% 24,112 31,615 Etna Park 70 LLC (3) 90% 12,874 12,514 Etna Park 70 East LLC (4) 90% 2,797 7,484 BSH Lessee L.P. (5) 25% 4,024 4,851 $ 74,559 $ 56,464 (1) During 2021, the Company disposed of 22 special purpose industrial assets to MFG Cold JV for an aggregate disposition price of $550,000, net of $2,775 of purchase price adjustments, and acquired a 20% interest in the MFG Cold JV. The Company recognized a gain of $239,386 in connection with the disposition of the assets, and, in addition, MFG Cold JV assumed $25,850 of non-recourse mortgage debt in the transaction. MFG Cold JV obtained $381,000 of non-recourse mortgage financing which bears interest at one month Term SOFR plus 245 basis points and has an initial term of two years but can be extended for three additional terms of one year each. MFG Cold JV entered into an interest rate agreement which caps the one-month Term SOFR component of the $381,000 mortgage financing at 3% for two years. (2) NNN Office JV L.P. is a joint venture formed in 2018 and owns office properties formerly owned by the Company. (3) Joint venture formed in 2017 with a developer entity to acquire a parcel of land. (4) Joint venture formed in 2019 with a developer entity to acquire a parcel of land. During the fourth quarter of 2021, a land parcel was distributed from the Etna Park 70 East LLC to The Cubes at Etna East, a consolidated development joint venture.

Mortgages and Notes Payable (Ta

Mortgages and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company had the following mortgages and notes payable outstanding as of December 31, 2021 and 2020: December 31, 2021 December 31, 2020 Mortgages and notes payable $ 84,429 $ 138,412 Unamortized debt issuance costs (1,337) (1,883) $ 83,092 $ 136,529
Schedule of Line of Credit Facilities	The maturity dates and interest rates as of December 31, 2021, are as follows: Maturity Date Interest Rate $600,000 Revolving Credit Facility (1) February 2023 LIBOR + 0.90% $300,000 Term Loan (2) January 2025 LIBOR + 1.00% (1) Maturity date of the revolving credit facility can be extended to February 2024 at the Company's option. The interest rate ranges from LIBOR plus 0.775% to 1.45%. At December 31, 2021, the Company had no borrowings outstanding and availability of $600,000, subject to covenant compliance. (2) The LIBOR portion of the interest rate was swapped to obtain a current fixed rate of 2.732% per annum. The aggregate unamortized debt issuance costs for the term loan was $1,554 and $2,057 as of December 31, 2021 and 2020, respectively.
Schedule of Maturities of Long-term Debt	Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending Total 2022 $ 11,275 2023 12,265 2024 5,373 2025 5,570 2026 5,773 Thereafter 44,173 84,429 Unamortized debt issuance costs (1,337) $ 83,092 Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2022 $ — 2023 — 2024 198,932 2025 — 2026 — Thereafter 929,120 1,128,052 Unamortized debt discounts (3,655) Unamortized debt issuance costs (8,871) $ 1,115,526

Senior Notes, Convertible Not_2

Senior Notes, Convertible Notes and Trust Preferred Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt Instrument Redemption	The Company had the following Senior Notes outstanding as of December 31, 2021 and 2020: Issue Date December 31, 2021 December 31, 2020 Interest Rate Maturity Date Issue Price August 2021 $ 400,000 $ — 2.375 % October 2031 99.758 % August 2020 400,000 400,000 2.70 % September 2030 99.233 % May 2014 198,932 198,932 4.40 % June 2024 99.883 % June 2013 — 188,756 4.25 % June 2023 99.026 % 998,932 787,688 Unamortized debt discount (3,655) (3,491) Unamortized debt issuance cost (7,346) (4,922) $ 987,931 $ 779,275
Schedule of Maturities of Long-term Debt	Scheduled principal and balloon payments for mortgages, notes payable and term loan for the next five years and thereafter are as follows: Year ending Total 2022 $ 11,275 2023 12,265 2024 5,373 2025 5,570 2026 5,773 Thereafter 44,173 84,429 Unamortized debt issuance costs (1,337) $ 83,092 Scheduled principal payments for these debt instruments for the next five years and thereafter are as follows: Year ending December 31, Total 2022 $ — 2023 — 2024 198,932 2025 — 2026 — Thereafter 929,120 1,128,052 Unamortized debt discounts (3,655) Unamortized debt issuance costs (8,871) $ 1,115,526

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of December 31, 2021, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk: Interest Rate Derivative Number of Instruments Notional Interest Rate Swaps 4 $300,000
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheet. As of December 31, 2021 As of December 31, 2020 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest Rate Swap Liability Other liabilities $ (6,258) Other liabilities $ (17,963)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The table below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for 2021 and 2020: Derivatives in Cash Flow Amount of Gain (Loss) Recognized Amount of Loss Reclassified from Accumulated OCI into Income (1) December 31, Hedging Relationships 2021 2020 2021 2020 Interest Rate Swap $ 6,755 $ (19,422) $ 4,950 $ 3,387 (1) Amounts reclassified from accumulated other comprehensive income (loss) to interest expense within the consolidated statements of operations.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Lease Income	The following table presents the Company’s classification of rental revenue for its operating leases for the year ended December 31, 2021 and 2020: Classification December 31, 2021 December 31, 2020 Fixed $ 287,552 $ 293,457 Variable (1)(2) 52,392 32,354 Total $ 339,944 $ 325,811 (1) Primarily comprised of tenant reimbursements. (2) Variable lease payments contain termination revenue of $15,371 and $857 for the year ending December 31, 2021 and 2020, respectively. The 2021 termination fee revenue primarily related to a tenant that terminated its lease at the Company's Durham, New Hampshire industrial property.
Lessor, Operating Lease, Payments to be Received, Maturity	Future fixed rental receipts for leases, assuming no new or re-negotiated leases as of December 31, 2021 were as follows: Year ending December 31, Total 2022 $ 254,733 2023 258,475 2024 228,697 2025 208,404 2026 189,243 Thereafter 710,938 Total $ 1,850,490
Lease, Cost	Supplemental information related to operating leases is as follows: The Year Ended December 31, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases (years) 9.7 11.7 Weighted-average discount rate Operating leases 4.0 % 4.1 % The components of lease expense for the year ended December 31, 2021 and 2020 were as follows: Income Statement Classification Fixed Variable Total 2021: Property operating $ 3,645 $ 3 $ 3,648 General and administrative 1,380 70 1,450 Total $ 5,025 $ 73 $ 5,098 2020: Property operating $ 3,969 $ 2 $ 3,971 General and administrative 1,348 105 1,453 Total $ 5,317 $ 107 $ 5,424
Lessee, Operating Lease, Liability, Maturity	The following table shows the Company's maturity analysis of its operating lease liabilities as of December 31, 2021: Year ending December 31, Operating Leases 2022 $ 5,046 2023 5,290 2024 5,199 2025 5,204 2026 4,174 Thereafter 11,174 Total lease payments 36,087 Less: Imputed interest (6,993) Present value of lease liabilities $ 29,094

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Common Share Issuance	The following table summarizes common share issuances under the ATM program: Year ended December 31, 2021 Shares Sold Net Proceeds 2021 ATM Issuances 1,052,800 $13,532 Year ended December 31, 2020 Shares Sold Net Proceeds 2020 ATM Issuances 5,950,882 $60,977
Accumulated Other Comprehensive Income Loss	A summary of the changes in accumulated other comprehensive income (loss) related to the Company's cash flow hedges is as follows: Twelve months ended December 31, 2021 2020 Balance at beginning of period $ (17,963) $ (1,928) Other comprehensive income (loss) before reclassifications 6,755 (19,422) Amounts of loss reclassified from accumulated other comprehensive loss to interest expense 4,950 3,387 Balance at end of period $ (6,258) $ (17,963)
Effects of Changes in the Company's Ownership Interests in Noncontrolling Interests	The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests: Net Income Attributable to Shareholders and Transfers from Noncontrolling Interests 2021 2020 2019 Net income attributable to LXP Industrial Trust shareholders $ 382,648 $ 183,302 $ 279,910 Transfers (to) from noncontrolling interests: Increase (decrease) in additional paid-in-capital for reallocation of noncontrolling interests 435 — (973) Increase in additional paid-in-capital for redemption of noncontrolling OP units 958 1,614 1,655 Change from net income attributable to shareholders and transfers from noncontrolling interests $ 384,041 $ 184,916 $ 280,592

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Nonvested Share Activity	Non-vested share activity for the years ended December 31, 2021 and 2020, is as follows: Number of Weighted-Average Grant-Date Fair Balance at December 31, 2019 2,941,412 $ 7.30 Granted 709,250 7.77 Vested (613,504) 8.80 Forfeited (332,429) 5.30 Balance at December 31, 2020 2,704,729 7.27 Granted 899,328 7.85 Vested (1,303,149) 7.82 Forfeited (10,264) 10.09 Balance at December 31, 2021 2,290,644 $ 7.17
Schedule of Share-based Compensation, Activity	During 2021 and 2020, the Company granted common shares to certain employees and trustees as follows: 2021 2020 Performance Shares (1) Shares issued: Index 297,636 232,993 Peer 297,632 232,987 Grant date fair value per share: (2) Index $ 7.13 $ 6.59 Peer $ 6.23 $ 5.97 Non-Vested Common Shares: (3) Shares issued 304,060 243,270 Grant date fair value $ 3,080 $ 2,581 (1) The shares vest based on the Company's total shareholder return growth after a three (2) The fair value of grants was determined at the grant date using a Monte Carlo simulation model. three

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The Company's provision for income taxes for the years ended December 31, 2021, 2020 and 2019 is summarized as follows: 2021 2020 2019 Current: Federal $ (26) $ (173) $ (70) State and local (1,267) (1,411) (1,309) $ (1,293) $ (1,584) $ (1,379)
Statutory Accounting Practices Disclosure	The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows: 2021 2020 2019 Federal provision at statutory tax rate (21%) $ (35) $ (195) $ (73) State and local taxes, net of federal benefit — (77) (10) Other (1,258) (1,312) (1,296) $ (1,293) $ (1,584) $ (1,379)
Summary of Average Taxable Nature of Dividends	A summary of the average taxable nature of the Company's common dividends for each of the years in the 3-year period ended December 31, 2021, is as follows: 2021 2020 2019 Total dividends per share $ 0.430 $ 0.420 $ 0.485 Ordinary income 65.89 % 95.1 % 61.07 % Qualifying dividend 0.10 % 0.6 % 0.22 % Capital gain — — — Return of capital 34.01 % 4.3 % 38.71 % 100.00 % 100.00 % 100.00 % A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the 3-year period ended December 31, 2021, is as follows: 2021 2020 2019 Total dividends per share $ 3.25 $ 3.25 $ 3.25 Ordinary income 99.84 % 99.38 % 99.64 % Qualifying dividend 0.16 % 0.62 % 0.36 % Capital gain — — — Return of capital — — — 100.00 % 100.00 % 100.00 %

Supplemental Disclosure of St_2

Supplemental Disclosure of Statement of Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	2021 2020 2019 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents at beginning of period $ 178,795 $ 122,666 $ 168,750 Restricted cash at beginning of period 626 6,644 8,497 Cash, cash equivalents and restricted cash at beginning of period $ 179,421 $ 129,310 $ 177,247 Cash and cash equivalents at end of period $ 190,926 $ 178,795 $ 122,666 Restricted cash at end of period 101 626 6,644 Cash, cash equivalents and restricted cash at end of period $ 191,027 $ 179,421 $ 129,310

The Company (Details)

The Company (Details)	Dec. 31, 2021stateproperty
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of consolidated properties | property	121
Number of states in which entity has interests | state	23

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021segmentjoint_venture
Property, Plant and Equipment [Line Items]
Number of operating segments | segment	1
Joint Ventures With Developers
Property, Plant and Equipment [Line Items]
Joint venture interests, number acquired	7
Joint Ventures With Developers | On-Going Development Projects
Property, Plant and Equipment [Line Items]
Joint venture interests, number acquired	5
Joint Ventures With Developers | Land Joint Ventures
Property, Plant and Equipment [Line Items]
Joint venture interests, number acquired	2
Joint Ventures With Developers | Minimum
Property, Plant and Equipment [Line Items]
Joint venture, ownership percentage	80.00%
Joint Ventures With Developers | Maximum
Property, Plant and Equipment [Line Items]
Joint venture, ownership percentage	95.50%
LCIF | Variable Interest Entity, Primary Beneficiary
Property, Plant and Equipment [Line Items]
VIE, ownership percentage	99.00%
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Maximum useful life of PPE (in years)	40 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Variable Interest Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Real estate, net	$ 3,534,966	$ 3,115,298
Total assets	4,005,558	3,493,226
Mortgages and notes payable, net	83,092	136,529
Total liabilities	1,682,330	1,502,089
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Real estate, net	810,087	569,461
Total assets	952,611	679,786
Mortgages and notes payable, net	0	25,600
Total liabilities	$ 47,011	$ 40,974

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
BASIC
Net income attributable to common shareholders	$ 375,848	$ 176,788	$ 273,225
Weighted-average common shares outstanding - basic (in shares)	277,640,835	266,914,843	237,642,048
Net income attributable to common shareholders - basic (usd per share)	$ 1.35	$ 0.66	$ 1.15
DILUTED:
Impact of assumed conversions	$ 7,962	$ 0	$ 0
Net income attributable to common shareholders	$ 383,810	$ 176,788	$ 273,225
Weighted-average common shares outstanding - basic (in shares)	277,640,835	266,914,843	237,642,048
Effect of dilutive securities:
Unvested share-based payment awards and options (in shares)	989,177	1,267,709	292,467
Shares issuable under forward sales agreements (in shares)	2,110,315	0	0
Operating Partnership Units (in shares)	1,918,845	0	0
Series C Cumulative Convertible Preferred (in shares)	4,710,570	0	0
Weighted-average common shares outstanding (in shares)	287,369,742	268,182,552	237,934,515
Net income attributable to common shareholders - per common share diluted (usd per share)	$ 1.34	$ 0.66	$ 1.15

Investments in Real Estate - Sc

Investments in Real Estate - Schedule of Net Real Estate (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Real Estate [Line Items]
Buildings and building improvements	$ 3,235,601	$ 3,144,176
Land, land estates and land improvements	342,895	367,272
Construction in progress	5,482	3,116
Real estate - intangible assets	341,403	409,293
Land held for development	104,160	0
Investments in real estate under construction	161,165	75,906
Real estate, gross	4,190,706	3,999,763
Accumulated depreciation and amortization	(655,740)	(884,465)
Real estate, net	3,534,966	3,115,298
Accumulated amortization	151,041	199,997
Amortization expense, next 12 months	33,710
Amortization expense, year 2	32,501
Amortization expense, year 3	26,638
Amortization expense, year 4	22,709
Amortization expense, year 5	19,701
In-place lease values
Real Estate [Line Items]
Real estate - intangible assets	320,847	357,640
Tenant relationships
Real Estate [Line Items]
Real estate - intangible assets	13,205	33,327
Above-market leases
Real Estate [Line Items]
Real estate - intangible assets	$ 7,351	$ 18,326

Investments in Real Estate - Ad

Investments in Real Estate - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)aprojectjoint_venture	Dec. 31, 2020USD ($)
Real Estate [Abstract]
Below-market leases, net of accretion	$ 14,401	$ 16,531
Future accretion, year 1	1,955
Future accretion, year 2	1,955
Future accretion, year 3	1,955
Future accretion, year 4	1,865
Future accretion, year 5	$ 1,663
Number of consolidated development projects | project	5
Investments in real estate under construction	$ 161,165	75,906
Construction in progress, capitalized interest	1,114
Real Estate [Line Items]
Land held for development	$ 104,160	$ 0
Reems and Olive LLC and Hancock 14 RRL, LLC
Real Estate [Line Items]
Joint venture interests, number acquired | joint_venture	2
Hancock 14 RRL
Real Estate [Line Items]
Joint venture, ownership percentage	80.00%
Hancock 14 RRL | Indianapolis, IN
Real Estate [Line Items]
Land held for development	$ 3,285
Area of real estate property (in acres) | a	73
Lex Reems & Olive LLC
Real Estate [Line Items]
Joint venture, ownership percentage	95.50%
Lex Reems & Olive LLC | Phoenix, AZ
Real Estate [Line Items]
Land held for development	$ 100,875
Area of real estate property (in acres) | a	420

Investments in Real Estate - _2

Investments in Real Estate - Schedule of Acquired Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Line Items]
Initial Cost Basis	$ 885,617	$ 611,800
Land	80,230	50,822
Building and Improvements	765,108	513,210
Lease in-place Value Intangible	40,264	47,768
Above (Below) Market Lease Intangible	15
Payments to acquire real estate	$ 758,371	$ 611,754	$ 662,010
Lease in-place Value Intangible
Real Estate [Line Items]
Weighted-average life of intangible assets (years)	7 years 3 months 18 days	8 years 8 months 12 days
Above (Below) Market Lease Intangible
Real Estate [Line Items]
Weighted-average life of intangible assets (years)	3 years 6 months
Indianapolis, IN | Industrial Property | Indianapolis, IN Industrial Property Expiring Dec 2024
Real Estate [Line Items]
Initial Cost Basis	$ 14,310
Land	1,208
Building and Improvements	12,052
Lease in-place Value Intangible	1,035
Above (Below) Market Lease Intangible	15
Indianapolis, IN | Industrial Property | Indianapolis, IN Industrial Property Expiring Aug 2025
Real Estate [Line Items]
Initial Cost Basis	14,120
Land	1,162
Building and Improvements	11,825
Lease in-place Value Intangible	1,133
Above (Below) Market Lease Intangible	0
Indianapolis, IN | Industrial Property | Indianapolis, IN Industrial Property Expiring Dec 2026
Real Estate [Line Items]
Initial Cost Basis	16,315
Land	741
Building and Improvements	14,488
Lease in-place Value Intangible	1,086
Above (Below) Market Lease Intangible	0
Indianapolis, IN | Industrial Property | Indianapolis, IN Industrial Property Expiring Mar 2031
Real Estate [Line Items]
Initial Cost Basis	44,479
Land	1,991
Building and Improvements	39,338
Lease in-place Value Intangible	3,150
Above (Below) Market Lease Intangible	0
Indianapolis, IN | Industrial Property | Indianapolis, IN Industrial Property Two Expiring Dec 2026
Real Estate [Line Items]
Initial Cost Basis	15,644
Land	695
Building and Improvements	13,958
Lease in-place Value Intangible	991
Above (Below) Market Lease Intangible	0
Indianapolis, IN | Industrial Property | Indianapolis, IN Industrial Property Expiring Nov 2031
Real Estate [Line Items]
Initial Cost Basis	93,899
Land	8,335
Building and Improvements	80,051
Lease in-place Value Intangible	5,513
Above (Below) Market Lease Intangible	0
Central Florida | Industrial Property | Central Florida Industrial Property Expiring May 2031
Real Estate [Line Items]
Initial Cost Basis	22,358
Land	1,416
Building and Improvements	19,910
Lease in-place Value Intangible	1,032
Above (Below) Market Lease Intangible	0
Central Florida | Industrial Property | Central Florida Industrial Property, Lease Expiration Date Not Available
Real Estate [Line Items]
Initial Cost Basis	48,593
Land	2,610
Building and Improvements	45,983
Lease in-place Value Intangible	0
Above (Below) Market Lease Intangible	0
Columbus, OH | Industrial Property | Columbus, Ohio, Industrial Property Expiring Mar 2024
Real Estate [Line Items]
Initial Cost Basis	19,531
Land	2,800
Building and Improvements	16,731
Lease in-place Value Intangible	0
Above (Below) Market Lease Intangible	0
Columbus, OH | Industrial Property | Columbus, Ohio Industrial Property Expiring Nov 2029
Real Estate [Line Items]
Initial Cost Basis	29,265
Land	2,251
Building and Improvements	25,184
Lease in-place Value Intangible	1,830
Above (Below) Market Lease Intangible	0
Houston, Texas | Industrial Property | Houston, TX Industrial Property Expiring Aug 2028
Real Estate [Line Items]
Initial Cost Basis	28,293
Land	4,272
Building and Improvements	22,296
Lease in-place Value Intangible	1,725
Above (Below) Market Lease Intangible	0
Houston, Texas | Industrial Property | Houston, TX Industrial Property Expiring Dec 2026
Real Estate [Line Items]
Initial Cost Basis	37,686
Land	6,489
Building and Improvements	28,470
Lease in-place Value Intangible	2,727
Above (Below) Market Lease Intangible	0
Houston, Texas | Industrial Property | Houston, TX Industrial Property Expiring Aug 2024
Real Estate [Line Items]
Initial Cost Basis	11,512
Land	1,792
Building and Improvements	9,089
Lease in-place Value Intangible	631
Above (Below) Market Lease Intangible	0
Houston, Texas | Industrial Property | Houston, Texas, Industrial Property, Expiring April 2025
Real Estate [Line Items]
Initial Cost Basis		$ 20,949
Land		2,202
Building and Improvements		17,101
Lease in-place Value Intangible		1,646
Cincinnati/Dayton, OH | Industrial Property | Cincinnati/Dayton, OH Industrial Property Expiring June 2023
Real Estate [Line Items]
Initial Cost Basis	18,674
Land	1,109
Building and Improvements	16,477
Lease in-place Value Intangible	1,088
Above (Below) Market Lease Intangible	0
Greenville-Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC Industrial Property Expiring Sept 2025
Real Estate [Line Items]
Initial Cost Basis	36,903
Land	2,376
Building and Improvements	32,121
Lease in-place Value Intangible	2,406
Above (Below) Market Lease Intangible	0
Greenville-Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC Industrial Property Expiring June 2026
Real Estate [Line Items]
Initial Cost Basis	23,812
Land	1,329
Building and Improvements	21,419
Lease in-place Value Intangible	1,064
Above (Below) Market Lease Intangible	0
Greenville-Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC Industrial Property Expiring April 2029
Real Estate [Line Items]
Initial Cost Basis	29,421
Land	2,819
Building and Improvements	24,508
Lease in-place Value Intangible	2,094
Above (Below) Market Lease Intangible	0
Greenville-Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC Industrial Property Expiring Dec 2029
Real Estate [Line Items]
Initial Cost Basis	26,106
Land	1,169
Building and Improvements	23,070
Lease in-place Value Intangible	1,867
Above (Below) Market Lease Intangible	0
Greenville-Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC Industrial Property, Lease Expiration Date Not Available
Real Estate [Line Items]
Initial Cost Basis	18,394
Land	1,020
Building and Improvements	17,374
Lease in-place Value Intangible	0
Above (Below) Market Lease Intangible	$ 0
Approximate Lease Term (Years)	5 years 6 months
Greenville-Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC Industrial Property Expiring Sept 2026
Real Estate [Line Items]
Initial Cost Basis	$ 31,646
Land	1,710
Building and Improvements	27,817
Lease in-place Value Intangible	2,119
Above (Below) Market Lease Intangible	0
Greenville-Spartanburg, SC | Industrial Property | Greenville-Spartanburg, SC, Industrial Property, Expiring Feb 2031
Real Estate [Line Items]
Initial Cost Basis		18,595
Land		1,186
Building and Improvements		15,814
Lease in-place Value Intangible		1,595
Atlanta, Georgia | Industrial Property | Atlanta, GA Industrial Property Expiring Oct 2028
Real Estate [Line Items]
Initial Cost Basis	47,568
Land	7,209
Building and Improvements	40,359
Lease in-place Value Intangible	0
Above (Below) Market Lease Intangible	0
Atlanta, Georgia | Industrial Property | Atlanta, GA Industrial Property Expiring July 2031
Real Estate [Line Items]
Initial Cost Basis	37,625
Land	2,006
Building and Improvements	33,276
Lease in-place Value Intangible	2,343
Above (Below) Market Lease Intangible	0
Atlanta, Georgia | Industrial Property | Atlanta, GA Industrial Property Expiring Sept 2031
Real Estate [Line Items]
Initial Cost Basis	47,618
Land	2,497
Building and Improvements	42,255
Lease in-place Value Intangible	2,866
Above (Below) Market Lease Intangible	0
Atlanta, Georgia | Industrial Property | Atlanta, GA Industrial Property Expiring Sept 2025
Real Estate [Line Items]
Initial Cost Basis	26,838
Land	1,465
Building and Improvements	23,649
Lease in-place Value Intangible	1,724
Above (Below) Market Lease Intangible	0
Phoenix, AZ | Industrial Property | Phoenix, AZ Industrial Property Expiring Nov 2036
Real Estate [Line Items]
Initial Cost Basis	61,490
Land	11,732
Building and Improvements	49,758
Lease in-place Value Intangible	0
Above (Below) Market Lease Intangible	0
Phoenix, AZ | Industrial Property | Phoenix, AZ Industrial Property Expiring Dec 2031
Real Estate [Line Items]
Initial Cost Basis	83,517
Land	8,027
Building and Improvements	73,650
Lease in-place Value Intangible	1,840
Above (Below) Market Lease Intangible	0
Phoenix, AZ | Industrial Property | Phoenix, AZ, Industrial Property, Expiring Dec 2025
Real Estate [Line Items]
Initial Cost Basis		19,164
Land		1,614
Building and Improvements		16,222
Lease in-place Value Intangible		1,328
Phoenix, AZ | Industrial Property | Phoenix, AZ Industrial Property Expiring Mar 2033
Real Estate [Line Items]
Initial Cost Basis		87,820
Land		10,733
Building and Improvements		69,491
Lease in-place Value Intangible		7,596
Hebron, OH | Industrial Property
Real Estate [Line Items]
Payments to acquire real estate	$ 371
Chicago, Illinois | Industrial Property | Chicago, IL Industrial Property Expiring Nov 2029
Real Estate [Line Items]
Initial Cost Basis		53,642
Land		3,681
Building and Improvements		45,817
Lease in-place Value Intangible		4,144
Chicago, Illinois | Industrial Property | Chicago, IL Industrial Property Expiring Dec 2029
Real Estate [Line Items]
Initial Cost Basis		39,153
Land		1,788
Building and Improvements		34,301
Lease in-place Value Intangible		3,064
Dallas, Texas | Industrial Property | Dallas, TX Property Expiring Aug 2029
Real Estate [Line Items]
Initial Cost Basis		83,495
Land		4,500
Building and Improvements		71,635
Lease in-place Value Intangible		7,360
Dallas, Texas | Industrial Property | Dallas, TX, Industrial Property Expiring June 2030
Real Estate [Line Items]
Initial Cost Basis		10,731
Land		1,308
Building and Improvements		8,466
Lease in-place Value Intangible		957
Dallas, Texas | Industrial Property | Dallas, TX, Industrial Property, Expiring Oct 2024
Real Estate [Line Items]
Initial Cost Basis		44,030
Land		3,938
Building and Improvements		37,185
Lease in-place Value Intangible		2,907
Dallas, Texas | Industrial Property | Dallas, TX, Industrial Property Expiring Jan 2030
Real Estate [Line Items]
Initial Cost Basis		31,556
Land		3,847
Building and Improvements		25,038
Lease in-place Value Intangible		2,671
Savannah, Georgia | Industrial Property | Savannah, GA, Industrial Property Expiring July 2027
Real Estate [Line Items]
Initial Cost Basis		34,753
Land		1,689
Building and Improvements		30,346
Lease in-place Value Intangible		2,718
Savannah, Georgia | Industrial Property | Savannah, GA, Industrial Property Expiring June 2025
Real Estate [Line Items]
Initial Cost Basis		30,448
Land		2,560
Building and Improvements		25,697
Lease in-place Value Intangible		2,191
Savannah, Georgia | Industrial Property | Savannah, GA, Industrial Property, Expiring Aug 2025
Real Estate [Line Items]
Initial Cost Basis		9,130
Land		1,070
Building and Improvements		7,448
Lease in-place Value Intangible		612
Savannah, Georgia | Industrial Property | Savanna, GA, Industrial Property, Expiring July 2026
Real Estate [Line Items]
Initial Cost Basis		40,908
Land		3,775
Building and Improvements		34,322
Lease in-place Value Intangible		2,811
Ocala, Florida | Industrial Property | Ocala, FL, Industrial Property, Expiring Aug 2030
Real Estate [Line Items]
Initial Cost Basis		58,283
Land		4,113
Building and Improvements		49,904
Lease in-place Value Intangible		4,266
DC/Baltimore, Maryland | Industrial Property | DC/Baltimore, MD, Industrial Property, Expiring Nov 2024
Real Estate [Line Items]
Initial Cost Basis		29,143
Land		2,818
Building and Improvements		24,423
Lease in-place Value Intangible		$ 1,902

Investments in Real Estate - _3

Investments in Real Estate - Schedule of Real Estate Properties Development (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)ft²building	Dec. 31, 2020USD ($)
Real Estate [Line Items]
GAAP Investment Balance as of 12/31/2021	$ 161,165	$ 75,906
Real Estate Investment
Real Estate [Line Items]
Estimated Project Cost	459,600
GAAP Investment Balance as of 12/31/2021	161,165
Amount Funded as of 12/31/2021	$ 111,542
Columbus, OH | The Cubes at Etna East
Real Estate [Line Items]
Project ownership percentage	95.00%
Columbus, OH | Real Estate Investment | The Cubes at Etna East
Real Estate [Line Items]
# of Buildings | building	1
Estimated Sq. Ft. | ft²	1,074,840
Estimated Project Cost	$ 72,100
GAAP Investment Balance as of 12/31/2021	33,002
Amount Funded as of 12/31/2021	$ 22,471
% Leased as of 12/31/2021	0.00%
Indianapolis, IN | Mt. Comfort
Real Estate [Line Items]
Project ownership percentage	80.00%
Indianapolis, IN | Real Estate Investment | Mt. Comfort
Real Estate [Line Items]
# of Buildings | building	1
Estimated Sq. Ft. | ft²	1,053,360
Estimated Project Cost	$ 60,300
GAAP Investment Balance as of 12/31/2021	30,012
Amount Funded as of 12/31/2021	$ 21,977
% Leased as of 12/31/2021	0.00%
Phoenix, AZ | Cotton 303
Real Estate [Line Items]
Project ownership percentage	93.00%
Phoenix, AZ | Real Estate Investment | Cotton 303
Real Estate [Line Items]
# of Buildings | building	2
Estimated Sq. Ft. | ft²	880,678
Estimated Project Cost	$ 84,200
GAAP Investment Balance as of 12/31/2021	30,263
Amount Funded as of 12/31/2021	$ 24,475
% Leased as of 12/31/2021	0.00%
Central Florida | Ocala
Real Estate [Line Items]
Project ownership percentage	80.00%
Central Florida | Real Estate Investment | Ocala
Real Estate [Line Items]
# of Buildings | building	1
Estimated Sq. Ft. | ft²	1,085,280
Estimated Project Cost	$ 80,900
GAAP Investment Balance as of 12/31/2021	32,186
Amount Funded as of 12/31/2021	$ 21,186
% Leased as of 12/31/2021	0.00%
Greenville-Spartanburg, SC | Smith Farms
Real Estate [Line Items]
Project ownership percentage	90.00%
Greenville-Spartanburg, SC | Real Estate Investment | Smith Farms
Real Estate [Line Items]
# of Buildings | building	3
Estimated Sq. Ft. | ft²	2,194,820
Estimated Project Cost	$ 162,100
GAAP Investment Balance as of 12/31/2021	35,702
Amount Funded as of 12/31/2021	$ 21,433
% Leased as of 12/31/2021	36.00%
Real estate under construction, leased area | ft²	797,936
Approximate Lease Term (Years)	12 years

Dispositions and Impairment - A

Dispositions and Impairment - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)propertyassetshares	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property	Jul. 12, 2021property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gain on sale of properties	$ 367,274	$ 139,039	$ 250,889
Redemption of units (in shares) | shares	1,598,906
Transfer mortgage payable	$ 11,610
Note receivable, interest rate	6.00%
Number of real estate properties conveyed to lender | property	121
Properties classified as held-for-sale (in number of properties) | property	8	2
Asset impairment charges	$ 5,541	$ 14,460	5,329
Notes Receivable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Self financing	1,497
Note receivable balance	1,489
Properties Conveyed to Lenders
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties conveyed to lender | property		3
Gain (loss) on debt extinguishment on sale of properties		$ 34,450
Disposal Group, Disposed of by Sale, not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property	823,966	432,843	504,118
Aggregate gain on sale of properties	367,274	139,039	250,889
Gain (loss) on debt extinguishment on sale of properties	$ 229	$ 2,879	4,415
Disposal Group, Disposed of by Sale, not Discontinued Operations | MFG Cold JV
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | asset	22
Disposition price	$ 550,000
Disposal Group, Disposed of by Sale, not Discontinued Operations | Properties Disposed By LCIF
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property	3
Disposition price	$ 35,369
Number of disposed properties encumbered with mortgage loan | property	2			2
Retail Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asset impairment charges			$ 2,106
Number of impaired properties | property			2
Properties Held at Fiscal Year End
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of assets held-for-use			$ 2,974

Dispositions and Impairment - S

Dispositions and Impairment - Schedule of Properties Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Real estate, at cost	$ 170,117	$ 32,629
Real estate, intangible assets	9,454	7,941
Accumulated depreciation and amortization	(99,659)	(24,312)
Deferred expenses, net	1,759	0
Other	915	272
Assets held for sale	82,586	16,530
Liabilities:
Accounts payable and other liabilities	1,908	588
Deferred revenue	483	0
Prepaid rent	1,077	202
Liabilities held for sale	$ 3,468	$ 790

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurements Inputs (Details) $ in Thousands	Dec. 31, 2021USD ($)year	Dec. 31, 2020USD ($)year
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liabilities	$ (6,258)	$ (17,963)
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	$ 12,735	$ 21,141
Fair Value, Nonrecurring | Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input | year		0.090
Fair Value, Nonrecurring | Discount Rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input | year	0.080
Fair Value, Nonrecurring | Discount Rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input | year	0.100
Fair Value, Nonrecurring | Capitalization Rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input	0.075	0.080
Fair Value, Nonrecurring | Capitalization Rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate property, fair value measurement input	0.080	0.090
Fair Value Measurements Using Level 1 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liabilities	$ 0	$ 0
Fair Value Measurements Using Level 1 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	0	0
Fair Value Measurements Using Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liabilities	(6,258)	(17,963)
Fair Value Measurements Using Level 2 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	0	2,480
Fair Value Measurements Using Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap liabilities	0	0
Fair Value Measurements Using Level 3 | Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate assets	$ 12,735	$ 18,661

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value, by Balance Sheet Grouping (Details) - Fair Value Measurements Using Level 3 - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Carrying Amount
Liabilities
Carrying Amount	$ 1,497,064	$ 1,341,242
Fair Value
Liabilities
Fair Value	$ 1,491,868	$ 1,368,151

Investments in Non-Consolidat_3

Investments in Non-Consolidated Entities - Schedule of Investments in and Non-consolidated Entities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)termasset	Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 74,559	$ 56,464
Transfer mortgage payable	$ 11,610
MFG Cold JV
Schedule of Equity Method Investments [Line Items]
Debt instrument, number of years in each additional term	1 year
Non-Recourse Mortgage | MFG Cold JV
Schedule of Equity Method Investments [Line Items]
Transfer mortgage payable	$ 25,850
Non-Recourse Mortgage | One Month Term Secured Overnight Financing Rate
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	2.45%
Non-Recourse Mortgage | MFG Cold JV
Schedule of Equity Method Investments [Line Items]
Non-recourse mortgage	$ 381,000
Debt instrument, initial term	2 years
Debt instrument, number of additional terms | term	3
Debt instrument, with capped interest rate, term	2 years
Non-Recourse Mortgage | MFG Cold JV | Maximum
Schedule of Equity Method Investments [Line Items]
Interest rate	3.00%
Disposal Group, Disposed of by Sale, not Discontinued Operations | MFG Cold JV
Schedule of Equity Method Investments [Line Items]
Number of properties sold | asset	22
Disposition price	$ 550,000
Disposal of assets, selling price adjustment	2,775
Gain on disposal of industrial assets	$ 239,386
MFG Cold JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20.00%
Equity method investments	$ 30,752	0
NNN Office JV L.P.
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20.00%
Equity method investments	$ 24,112	31,615
Etna Park 70 LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	90.00%
Equity method investments	$ 12,874	12,514
Etna Park 70 East LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	90.00%
Equity method investments	$ 2,797	7,484
BSH Lessee L.P.
Schedule of Equity Method Investments [Line Items]
Ownership percentage	25.00%
Equity method investments	$ 4,024	$ 4,851

Investments in Non-Consolidat_4

Investments in Non-Consolidated Entities - Additional Information (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)officeAsset	Dec. 31, 2019USD ($)officeAsset
Investments in and Advances to Affiliates [Line Items]
Aggregate gain on sale of properties		$ 367,274	$ 139,039	$ 250,889
Distribution of net proceeds		0	0	2,571
Lexington Reality Advisors Inc | Investment Advice
Investments in and Advances to Affiliates [Line Items]
Investment advisory fees		$ 2,968	3,028	3,596
Office Building
Investments in and Advances to Affiliates [Line Items]
Aggregate gain on sale of properties	$ 824
Proceeds from divestiture of interest in joint venture	$ 2,317
Non-consolidated Real Estate Entity
Investments in and Advances to Affiliates [Line Items]
Co-venture equity ownership percentage	15.00%
NNN Office Joint Venture Properties
Investments in and Advances to Affiliates [Line Items]
Aggregate gain on sale of properties				3,529
NNN Office JV L.P.
Investments in and Advances to Affiliates [Line Items]
Proceeds from sale of property				45,208
Distribution of net proceeds			$ 1,701	$ 7,549
Co-venture equity ownership percentage		20.00%
NNN Office JV L.P. | NNN Office Joint Venture Properties
Investments in and Advances to Affiliates [Line Items]
Number of properties sold | officeAsset			2	4
Aggregate gain on sale of properties			$ 557
Proceeds from sale of property			8,504
NNN Office JV L.P. | Mortgages
Investments in and Advances to Affiliates [Line Items]
Extinguishment of debt			$ 40,800	$ 101,520

Mortgages and Notes Payable - S

Mortgages and Notes Payable - Schedule of Mortgages and Notes Payable (Details) - Mortgages and Notes Payable - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Mortgages and notes payable	$ 84,429	$ 138,412
Unamortized debt issuance costs	(1,337)	(1,883)
Long-term debt	$ 83,092	$ 136,529

Mortgages and Notes Payable - A

Mortgages and Notes Payable - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jul. 12, 2021USD ($)property
Debt Instrument [Line Items]
Debt satisfaction gains (losses), net	$ (13,894)	$ 21,452	$ (4,517)
Interest paid, capitalized	$ 2,974	$ 1,745	410
Disposal Group, Disposed of by Sale, not Discontinued Operations | Properties Disposed By LCIF
Debt Instrument [Line Items]
Number of disposed properties encumbered with mortgage loan | property	2			2
Mortgage Loan | LCIF
Debt Instrument [Line Items]
Face amount				$ 11,610
Mortgages and Notes Payable
Debt Instrument [Line Items]
Weighted-average interest rate	4.00%	4.50%
Debt satisfaction gains (losses), net	$ 717		$ 9
Minimum | Mortgages and Notes Payable
Debt Instrument [Line Items]
Interest rate	3.50%
Effective interest percentage		3.50%
Maximum | Mortgages and Notes Payable
Debt Instrument [Line Items]
Interest rate	4.30%
Effective interest percentage		6.30%

Mortgages and Notes Payable - C

Mortgages and Notes Payable - Credit Agreement Terms (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unsecured Term Loan
Debt Instrument [Line Items]
Unamortized debt	$ 1,554,000	$ 2,057,000
Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility borrowings	0
Line of credit remaining borrowing capacity	600,000,000
Unsecured Revolving Credit Facility, Expiring February 2023 | Unsecured Term Loan
Debt Instrument [Line Items]
Revolving credit facility borrowings	600,000,000
Unsecured Term Loan, Expiring January 2025 | Unsecured Term Loan
Debt Instrument [Line Items]
Face amount	$ 300,000,000
Interest Rate	2.732%
London Interbank Offered Rate (LIBOR) | Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%
London Interbank Offered Rate (LIBOR) | Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.775%
London Interbank Offered Rate (LIBOR) | Unsecured Revolving Credit Facility, Expiring February 2023 | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.45%
London Interbank Offered Rate (LIBOR) | Unsecured Term Loan, Expiring January 2025 | Unsecured Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%

Mortgages and Notes Payable - M

Mortgages and Notes Payable - Maturities of Long-term Debt (Details) - Mortgages, Notes Payable, Credit Facility Borrowings, and Term Loans $ in Thousands	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
2022	$ 11,275
2023	12,265
2024	5,373
2025	5,570
2026	5,773
Thereafter	44,173
Long-term debt, gross	84,429
Unamortized debt issuance costs	(1,337)
Long-term debt	$ 83,092

Senior Notes, Convertible Not_3

Senior Notes, Convertible Notes and Trust Preferred Securities - Schedule of Long-term Debt Instruments (Details) - Senior Notes - USD ($)	Dec. 31, 2021	Aug. 31, 2021	Dec. 31, 2020	Aug. 31, 2020
Debt Instrument [Line Items]
Principal amount of debt component	$ 998,932,000		$ 787,688,000
Unamortized debt discounts	(3,655,000)		(3,491,000)
Unamortized debt issuance costs	(7,346,000)		(4,922,000)
Long-term debt	987,931,000		779,275,000
Senior Notes Due 2031
Debt Instrument [Line Items]
Principal amount of debt component	$ 400,000,000		0
Unamortized debt discounts		$ (968,000)
Interest Rate	2.375%
Issue Price	99.758%
Senior Notes Due 2030
Debt Instrument [Line Items]
Principal amount of debt component	$ 400,000,000		400,000,000
Unamortized debt discounts				$ (3,068,000)
Interest Rate	2.70%
Issue Price	99.233%
Senior Notes Due 2024
Debt Instrument [Line Items]
Principal amount of debt component	$ 198,932,000		198,932,000
Interest Rate	4.40%
Issue Price	99.883%
Senior Notes Due 2023
Debt Instrument [Line Items]
Principal amount of debt component	$ 0		$ 188,756,000
Interest Rate	4.25%
Issue Price	99.026%

Senior Notes, Convertible Not_4

Senior Notes, Convertible Notes and Trust Preferred Securities - Narrative (Details) - USD ($)	1 Months Ended		12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2007
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt satisfaction gains (losses), net			$ (13,894,000)	$ 21,452,000	$ (4,517,000)
Senior Notes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount			998,932,000	787,688,000
Debt instrument, unamortized discount			3,655,000	3,491,000
Senior Notes | Senior Notes Due 2023 and 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt satisfaction gains (losses), net		$ 10,119,000
Senior Notes | Senior Notes Due 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Extinguishment of debt		61,244,000
Senior Notes | Senior Notes Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Extinguishment of debt		51,068,000
Senior Notes | Senior Notes Due 2030
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount			$ 400,000,000	400,000,000
Interest Rate			2.70%
Issue price			99.233%
Debt instrument, unamortized discount		$ 3,068,000
Senior Notes | Senior Notes Due 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount			$ 0	188,756,000
Interest Rate			4.25%
Issue price			99.026%
Extinguishment of debt	$ 188,756,000
Extinguishment of debt, make-whole premium	12,191,000
Extinguishment of debt, accrued and unpaid interest	2,028,000
Debt satisfaction gains (losses), net	$ 12,948,000
Senior Notes | Senior Notes Due 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount			$ 198,932,000	198,932,000
Interest Rate			4.40%
Issue price			99.883%
6.804% Trust Preferred Securities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face amount						$ 200,000,000
Interest Rate			1.832%
Principal amount outstanding on Trust Preferred Securities			$ 129,120,000	129,120,000
Debt issuance costs, gross			$ 1,525,000	$ 1,625,000
6.804% Trust Preferred Securities | London Interbank Offered Rate (LIBOR)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on variable rate						1.70%

Senior Notes, Convertible Not_5

Senior Notes, Convertible Notes and Trust Preferred Securities - Schedule of Maturities of Long-term Debt (Details) - Senior Notes, Convertible Notes, and Trust Preferred Securities $ in Thousands	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
2022	$ 0
2023	0
2024	198,932
2025	0
2026	0
Thereafter	929,120
Long-term debt, gross	1,128,052
Unamortized debt discounts	(3,655)
Unamortized debt issuance costs	(8,871)
Long-term debt	$ 1,115,526

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)financial_instrument	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jul. 31, 2019USD ($)instrument
Derivative [Line Items]
Amount reclassified as increase to interest expense	$ 3,848
Interest expense	$ 46,708	$ 55,201	$ 65,095
Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Number of derivative instruments held	4			4
Derivative notional amount	$ 300,000			$ 300,000

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Schedule of Derivative Instruments (Details) - Interest Rate Swap - Designated as Hedging Instrument $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)financial_instrument	Dec. 31, 2020USD ($)	Jul. 31, 2019USD ($)instrument
Other Liabilities
Derivative [Line Items]
Derivative liability	$ (6,258)	$ (17,963)
Cash Flow Hedging
Derivative [Line Items]
Number of derivative instruments held	4		4
Derivative notional amount	$ 300,000		$ 300,000
Cash Flow Hedging | Interest Expense
Derivative [Line Items]
Amount of gain (loss) recognized in OCI on derivative	6,755	(19,422)
Amount of (Income) Loss Reclassified from AOCI into Income	$ 4,950	$ 3,387

Leases - Additional information

Leases - Additional information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 29, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Rent revenue reduced	$ 615			$ 352
Non incremental costs incurred		$ 19	$ 67	191
Sublease income		3,425	3,756	$ 3,764
COVID-19 Pandemic
Lessee, Lease, Description [Line Items]
Rent revenue reduced		$ 370	389
Deferred rent receivable, writeoff			$ 1,383
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term (up to)		39 years

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Fixed	$ 287,552	$ 293,457
Variable	52,392	32,354
Total	339,944	325,811
Lease termination income	$ 15,371	$ 857

Leases - Future Fixed Rental Re

Leases - Future Fixed Rental Receipts (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 254,733
2023	258,475
2024	228,697
2025	208,404
2026	189,243
Thereafter	710,938
Total	$ 1,850,490

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details)	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term, operating leases (years)	9 years 8 months 12 days	11 years 8 months 12 days
Weighted-average discount rate, operating leases	4.00%	4.10%

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Fixed	$ 5,025	$ 5,317
Variable	73	107
Total	5,098	5,424
Property operating
Lessee, Lease, Description [Line Items]
Fixed	3,645	3,969
Variable	3	2
Total	3,648	3,971
General and administrative
Lessee, Lease, Description [Line Items]
Fixed	1,380	1,348
Variable	70	105
Total	$ 1,450	$ 1,453

Leases - Operating Lease Liabil

Leases - Operating Lease Liabilities Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 5,046
2023	5,290
2024	5,199
2025	5,204
2026	4,174
Thereafter	11,174
Total lease payments	36,087
Less: Imputed interest	(6,993)
Operating lease liabilities	$ 29,094	$ 32,515

Equity - Schedule of Common Sha

Equity - Schedule of Common Share Issuance (Details) - At The Market - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Equity [Line Items]
Shares Sold (in shares)	1,052,800	5,950,882
Net Proceeds	$ 13,532	$ 60,977

Equity - Additional Information

Equity - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021USD ($)property$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018shares	Jul. 31, 2015shares
Equity [Line Items]
Proceeds from issuance of common shares | $	$ 60,575,000	$ 222,390,000	$ 197,643,000
Shares issued, net of forfeitures (in shares)	949,573	756,380	896,807
Number of shares authorized to be repurchased (in shares)					10,000,000
Remaining authorized repurchase amount (in shares)	8,976,315
Preferred shares outstanding (in shares)	1,935,400	1,935,400
Preferred shares, liquidation preference | $	$ 96,770,000	$ 96,770,000
OP unit equivalent in common shares (in unit per share)	1.13
Redemption of units (in shares)	1,598,906
Shares issued for units redeemed (in shares)	185,270	327,453	391,993
Partners' capital account, exchanges and conversions | $	$ 958,000	$ 1,614,000	$ 1,655,000
OP units outstanding (in units)	775,000
Disposal Group, Disposed of by Sale, not Discontinued Operations | Properties Disposed By LCIF
Equity [Line Items]
Number of properties sold | property	3
LCIF
Equity [Line Items]
Redemption of units (in shares)	1,598,906
LCIF | Disposal Group, Disposed of by Sale, not Discontinued Operations | Properties Disposed By LCIF
Equity [Line Items]
Number of properties sold | property	3
Forward Contracts
Equity [Line Items]
Sale of stock, number of shares issued (in shares)	4,990,717
Sale of stock, net proceeds | $	$ 53,567,000
Common stock, aggregated number of shares to be settled on forward basis (in shares)	3,649,023
Common stock, shares to be settled on forward basis, aggregate value | $	$ 38,544,000
Common Stock
Equity [Line Items]
Number of shares authorized to be repurchased (in shares)				10,000,000
Repurchase of common shares (in shares)	0	1,329,940	441,581
Average cost per share (in dollars per share) | $ / shares		$ 8.28	$ 8.13
Series C
Equity [Line Items]
Preferred shares outstanding (in shares)	1,935,400
Dividend rate (usd per share) | $ / shares	$ 3.25
Preferred shares, liquidation preference | $	$ 96,770,000
Convertible preferred stock, conversion ratio	2.4339
Preferred stock conversion, threshold conversion price percentage (at least)	125.00%
At The Market
Equity [Line Items]
Sale of stock, number of shares issued (in shares)	1,052,800	5,950,882
Sale of stock, net proceeds | $	$ 13,532,000	$ 60,977,000
Sale of stock, authorized amount | $	350,000,000
Sale of stock, amount available for issuance | $	$ 294,985,000
Underwritten Offering
Equity [Line Items]
Sale of stock, number of shares issued (in shares)	16,000,000	17,250,000
Sale of stock (in dollars per share) | $ / shares	$ 12.11	$ 9.60
Proceeds from issuance of common shares | $		$ 164,000,000
Underwritten Offering | Forward Contracts
Equity [Line Items]
Common stock, shares to be settled on forward basis, aggregate value | $	$ 187,528,000

Equity - Schedule of Changes in

Equity - Schedule of Changes in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in Accumulated Other Comprehensive Income
Balance at beginning of period	$ 1,991,137	$ 1,724,719
Balance at end of period	2,323,228	1,991,137
Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income
Balance at beginning of period	(17,963)	(1,928)
Balance at end of period	(6,258)	(17,963)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Changes in Accumulated Other Comprehensive Income
Other comprehensive income (loss) before reclassifications	6,755	(19,422)
Amounts of loss reclassified from accumulated other comprehensive loss to interest expense	$ 4,950	$ 3,387

Equity - Schedule of Effects of

Equity - Schedule of Effects of Changes in Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Net income (loss) attributable to common shareholders	$ 382,648	$ 183,302	$ 279,910
Increase (decrease) in additional paid-in-capital for reallocation of noncontrolling interests	435	0	(973)
Increase in additional paid-in-capital for redemption of noncontrolling OP units	958	1,614	1,655
Change from net income attributable to shareholders and transfers from noncontrolling interests	$ 384,041	$ 184,916	$ 280,592

Benefit Plans - Non-Vested Shar

Benefit Plans - Non-Vested Share Activity (Details) - Non-vested Shares - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares outstanding, beginning (in shares)	2,704,729	2,941,412
Number of shares granted (in shares)	899,328	709,250
Number of shares vested (in shares)	(1,303,149)	(613,504)
Number of shares forfeited (in shares)	(10,264)	(332,429)
Number of shares outstanding, ending (in shares)	2,290,644	2,704,729
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Value per share outstanding, beginning (usd per share)	$ 7.27	$ 7.30
Value per share granted (usd per share)	7.85	7.77
Value per share vested (usd per share)	7.82	8.80
Value per share forfeited (usd per share)	10.09	5.30
Value per share outstanding, ending (usd per share)	$ 7.17	$ 7.27

Benefit Plans - Shares Granted

Benefit Plans - Shares Granted to Certain Employees and Trustees (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2017
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)			662,044	452,737
Measurement period (in years)	3 years
Number of shares vested (in shares)	662,044	122,779
Index Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	297,636	232,993
Value per share granted (usd per share)	$ 7.13	$ 6.59
Peer Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	297,632	232,987
Value per share granted (usd per share)	$ 6.23	$ 5.97
Non-vested Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	304,060	243,270
Grant date fair value	$ 3,080	$ 2,581
Vesting period (in years)	3 years

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares held in employee trust (in shares)	130,863	130,863
Initial vesting percentage	25.00%
Vesting percentage	100.00%
Vesting period (in years)	4 years
Cost recognized	$ 426	$ 393	$ 403
Allocated share-based compensation expense	$ 6,554	$ 6,185	$ 5,831
Non-Management Award Grant
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares issued for services (in shares)	50,245	47,130	67,226
Shares issued for services, value	$ 587	$ 500	$ 595
Non-vested Shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Non-options, nonvested, number (in shares)	2,290,644	2,704,729	2,941,412
Number of shares available for grant (in shares)	1,410,110
Compensation cost not yet recognized	$ 6,502
Total compensation cost not yet recognized, period for recognition (in years)	1 year 8 months 12 days
Shares Subject to Time
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Non-options, nonvested, number (in shares)	677,275
Shares Subject to Performance
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Non-options, nonvested, number (in shares)	1,613,369

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ (26)	$ (173)	$ (70)
State and local	(1,267)	(1,411)	(1,309)
Benefit (provision) for income taxes	$ (1,293)	$ (1,584)	$ (1,379)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
State and Local Jurisdiction
Income Taxes [Line Items]
State taxes paid	$ 1,267	$ 1,314	$ 1,289

Income Taxes - Statutory Federa

Income Taxes - Statutory Federal Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation at federal statutory income tax rate, amount	$ (35)	$ (195)	$ (73)
State and local taxes, net of federal benefit	0	(77)	(10)
Other	(1,258)	(1,312)	(1,296)
Benefit (provision) for income taxes	$ (1,293)	$ (1,584)	$ (1,379)
Effective income tax rate reconciliation, at federal statutory income tax rate (in percent)	21.00%	21.00%	21.00%

Income Taxes - Summary of Avera

Income Taxes - Summary of Average Taxable Nature of Dividends (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock
Income Tax Contingency [Line Items]
Total dividends per share, common (usd per share)	$ 0.430	$ 0.420	$ 0.485
Taxable percentage allocation on dividends	100.00%	100.00%	100.00%
Common Stock | Ordinary income
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	65.89%	95.10%	61.07%
Common Stock | Qualifying dividend
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.10%	0.60%	0.22%
Common Stock | Capital gain
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.00%	0.00%	0.00%
Common Stock | Return of capital
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	34.01%	4.30%	38.71%
Series C
Income Tax Contingency [Line Items]
Total dividends per share, preferred (usd per share)	$ 3.25	$ 3.25	$ 3.25
Taxable percentage allocation on dividends	100.00%	100.00%	100.00%
Series C | Ordinary income
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	99.84%	99.38%	99.64%
Series C | Qualifying dividend
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.16%	0.62%	0.36%
Series C | Capital gain
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.00%	0.00%	0.00%
Series C | Return of capital
Income Tax Contingency [Line Items]
Taxable percentage allocation on dividends	0.00%	0.00%	0.00%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2022USD ($)	Dec. 31, 2021project
Consolidated Properties
Real Estate [Line Items]
Number of development projects		5
Consolidated Properties | Land Joint Ventures
Real Estate [Line Items]
Number of development projects		2
Consolidated Properties | Forecast
Real Estate [Line Items]
Estimated construction costs | $	$ 312,000
Unconsolidated Properties | Land Joint Ventures
Real Estate [Line Items]
Number of development projects		2

Supplemental Disclosure of St_3

Supplemental Disclosure of Statement of Cash Flow Information - Supplemental Disclosure of Statement of Cash Flow Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
Cash and cash equivalents	$ 190,926	$ 178,795	$ 122,666	$ 168,750
Restricted cash	101	626	6,644	8,497
Cash, cash equivalents, and restricted cash	$ 191,027	$ 179,421	$ 129,310	$ 177,247

Supplemental Disclosure of St_4

Supplemental Disclosure of Statement of Cash Flow Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)propertyasset	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)
Other Significant Noncash Transactions [Line Items]
Interest paid	$ 44,234	$ 52,059	$ 59,018
Income taxes paid, net	1,569	1,748	1,482
Transfer mortgage payable	11,610
Lease obligation incurred	1,589	719
Right-of-use asset obtained	1,589	$ 719
Number of foreclosed properties | property		3
MFG Cold JV
Other Significant Noncash Transactions [Line Items]
Noncash increase in equity method investment	$ 28,075
Co-venture equity ownership percentage	20.00%
RR Ocala 44, LLC
Other Significant Noncash Transactions [Line Items]
Noncontrolling interest liability assumed	$ 489
Noncash increase to real estate investments under construction	489
Non-Recourse Mortgage | MFG Cold JV
Other Significant Noncash Transactions [Line Items]
Transfer mortgage payable	25,850
LCIF | Non-Recourse Mortgage
Other Significant Noncash Transactions [Line Items]
Transfer mortgage payable	$ 11,610
Disposal Group, Disposed of by Sale, not Discontinued Operations | MFG Cold JV
Other Significant Noncash Transactions [Line Items]
Number of properties sold | asset	22
Disposal Group, Disposed of by Sale, not Discontinued Operations | Properties Disposed By LCIF
Other Significant Noncash Transactions [Line Items]
Number of properties sold | property	3
Disposal Group, Disposed of by Sale, not Discontinued Operations | Properties Disposed By LCIF | LCIF
Other Significant Noncash Transactions [Line Items]
Number of properties sold | property	3
Proceeds from sale of real estate, noncash transaction	$ 22,305
Non-Recourse Mortgage
Other Significant Noncash Transactions [Line Items]
Mortgage debt incurred upon the acquisition of property		$ 178,662	41,877
Face amount			$ 110,000
South Carolina, Kansas and Florida
Other Significant Noncash Transactions [Line Items]
Transfer mortgage payable		57,356
Real estate, net		$ 28,078

Subsequent Events Narrative (De

Subsequent Events Narrative (Details) $ in Thousands	2 Months Ended	12 Months Ended
	Feb. 24, 2022USD ($)property	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Subsequent Event [Line Items]
Payments to acquire real estate		$ 758,371	$ 611,754	$ 662,010
Subsequent Event | Industrial Property
Subsequent Event [Line Items]
Number of real estate properties acquired | property	2
Payments to acquire real estate	$ 71,800

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation and Amortization - Schedule III (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate and Accumulated Depreciation [Line Items]
Land and Land Estates	$ 342,895
Buildings and Improvements	3,235,601
Total	3,583,978	$ 3,514,564	$ 3,320,574	$ 3,090,134
Accumulated Depreciation and Amortization	504,699	$ 684,468	$ 675,596	$ 722,644
Deferred loan costs, net	(1,337)
Encumbrances, net of deferred loan costs	$ 83,092
Building and improvements | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Useful life computing depreciation in latest income statement (years)	40 years
Land estates | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Useful life computing depreciation in latest income statement (years)	51 years
Industrial Property | Chandler, Arizona
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land and Land Estates	10,733
Buildings and Improvements	69,491
Total	80,224
Accumulated Depreciation and Amortization	3,768
Industrial Property | Goodyear, Arizona | Goodyear, AZ Industrial Acquired Nov-18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,247
Buildings and Improvements	36,115
Total	41,362
Accumulated Depreciation and Amortization	5,088
Industrial Property | Goodyear, Arizona | Goodyear, AZ Industrial Acquired Nov-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	41,646
Land and Land Estates	11,970
Buildings and Improvements	48,925
Total	60,895
Accumulated Depreciation and Amortization	4,584
Industrial Property | Goodyear, Arizona | Goodyear, AZ Industrial Acquired Jan-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,614
Buildings and Improvements	16,222
Total	17,836
Accumulated Depreciation and Amortization	1,317
Industrial Property | Goodyear, Arizona | Goodyear, AZ Industrial Acquired Nov-21
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	11,732
Buildings and Improvements	49,758
Total	61,490
Accumulated Depreciation and Amortization	345
Industrial Property | Tolleson, Arizona
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,311
Buildings and Improvements	16,013
Total	19,324
Accumulated Depreciation and Amortization	1,589
Industrial Property | Ocala, Florida
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,113
Buildings and Improvements	49,936
Total	54,049
Accumulated Depreciation and Amortization	3,278
Industrial Property | Orlando, Florida
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,030
Buildings and Improvements	10,869
Total	11,899
Accumulated Depreciation and Amortization	4,597
Industrial Property | Tampa, Florida
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,160
Buildings and Improvements	10,311
Total	12,471
Accumulated Depreciation and Amortization	7,697
Industrial Property | Austell, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,251
Buildings and Improvements	48,459
Total	51,710
Accumulated Depreciation and Amortization	6,775
Industrial Property | Cartersville, Georgia | Cartersville, GA Industrial Acquired Dec-21 Property
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,497
Buildings and Improvements	42,255
Total	44,752
Accumulated Depreciation and Amortization	0
Industrial Property | Cartersville, Georgia | Cartersville, GA Industrial Acquired Dec-21 Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,006
Buildings and Improvements	33,276
Total	35,282
Accumulated Depreciation and Amortization	0
Industrial Property | Fairburn, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	7,209
Buildings and Improvements	40,359
Total	47,568
Accumulated Depreciation and Amortization	269
Industrial Property | McDonough, Georgia | McDonough, GA Industrial Acquired Aug-17
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,441
Buildings and Improvements	52,790
Total	58,231
Accumulated Depreciation and Amortization	9,678
Industrial Property | McDonough, Georgia | McDonough, GA Industrial Acquired Feb-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,253
Buildings and Improvements	30,956
Total	34,209
Accumulated Depreciation and Amortization	3,936
Industrial Property | Pooler, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,690
Buildings and Improvements	30,346
Total	32,036
Accumulated Depreciation and Amortization	2,332
Industrial Property | Rincon, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,775
Buildings and Improvements	34,325
Total	38,100
Accumulated Depreciation and Amortization	1,896
Industrial Property | Savannah, Georgia | Savannah, GA, Industrial Property Acquired Jun-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,560
Buildings and Improvements	25,812
Total	28,372
Accumulated Depreciation and Amortization	1,752
Industrial Property | Savannah, Georgia | Savannah, GA, Industrial Property Acquired Jun-20, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,070
Buildings and Improvements	7,458
Total	8,528
Accumulated Depreciation and Amortization	508
Industrial Property | Union City, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,536
Buildings and Improvements	22,830
Total	25,366
Accumulated Depreciation and Amortization	2,520
Industrial Property | Edwardsville, Illinois | Edwardsville, IL Industrial Acquired Dec-16
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,593
Buildings and Improvements	34,565
Total	39,158
Accumulated Depreciation and Amortization	7,130
Industrial Property | Edwardsville, Illinois | Edwardsville, IL Industrial Acquired Jun- 18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,649
Buildings and Improvements	41,310
Total	44,959
Accumulated Depreciation and Amortization	6,524
Industrial Property | Minooka, Illinois | Minooka, Illinois, Industrial Property Acquired Jan-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,788
Buildings and Improvements	34,301
Total	36,089
Accumulated Depreciation and Amortization	2,747
Industrial Property | Minooka, Illinois | Minooka, Illinois, Industrial Property Acquired Dec-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,432
Buildings and Improvements	40,949
Total	44,381
Accumulated Depreciation and Amortization	3,550
Industrial Property | Minooka, Illinois | Minooka, Illinois, Industrial Property Acquired Jan-20, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,681
Buildings and Improvements	45,817
Total	49,498
Accumulated Depreciation and Amortization	3,873
Industrial Property | Rantoul, Illinois
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,304
Buildings and Improvements	32,562
Total	33,866
Accumulated Depreciation and Amortization	7,157
Industrial Property | Rockford, Illinois | Rockford, IL Industrial Acquired Dec-06
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	371
Buildings and Improvements	2,647
Total	3,018
Accumulated Depreciation and Amortization	1,109
Industrial Property | Rockford, Illinois | Rockford, IL Industrial Acquired Dec-06, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	509
Buildings and Improvements	5,921
Total	6,430
Accumulated Depreciation and Amortization	2,234
Industrial Property | Lafayette, Indiana
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	662
Buildings and Improvements	15,578
Total	16,240
Accumulated Depreciation and Amortization	3,401
Industrial Property | Lebanon, Indiana
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,100
Buildings and Improvements	29,996
Total	32,096
Accumulated Depreciation and Amortization	5,985
Industrial Property | Whiteland, Indiana | Whiteland, IN Industrial Acquired Oct-21 Property
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	741
Buildings and Improvements	14,488
Total	15,229
Accumulated Depreciation and Amortization	157
Industrial Property | Whiteland, Indiana | Whiteland, IN Industrial Acquired Oct-21 Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,991
Buildings and Improvements	39,338
Total	41,329
Accumulated Depreciation and Amortization	439
Industrial Property | Whiteland, Indiana | Whiteland, IN Industrial Acquired Oct-21 Property 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	695
Buildings and Improvements	13,958
Total	14,653
Accumulated Depreciation and Amortization	151
Industrial Property | Whitestown, Indiana | Whitestown, IN Industrial Acquired Jan-21
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,162
Buildings and Improvements	11,825
Total	12,987
Accumulated Depreciation and Amortization	475
Industrial Property | Whitestown, Indiana | Whitestown, IN Industrial Acquired Jan-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,954
Buildings and Improvements	17,011
Total	18,965
Accumulated Depreciation and Amortization	2,171
Industrial Property | Whitestown, Indiana | Whitestown, IN Industrial Acquired Jan-21 Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,208
Buildings and Improvements	12,052
Total	13,260
Accumulated Depreciation and Amortization	485
Industrial Property | Whitestown, Indiana | Whitestown, IN Industrial Acquired Dec-21
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	8,335
Buildings and Improvements	80,051
Total	88,386
Accumulated Depreciation and Amortization	0
Industrial Property | New Century, Kansas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	0
Buildings and Improvements	13,424
Total	13,424
Accumulated Depreciation and Amortization	2,898
Industrial Property | Shreveport, Louisiana | Shreveport, LA Industrial Acquired Jun-12
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,078
Buildings and Improvements	10,134
Total	11,212
Accumulated Depreciation and Amortization	3,379
Industrial Property | Shreveport, Louisiana | Shreveport, LA Industrial Acquired Mar-07
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	860
Buildings and Improvements	21,840
Total	22,700
Accumulated Depreciation and Amortization	8,075
Industrial Property | Detroit, Michigan
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,133
Buildings and Improvements	25,009
Total	26,142
Accumulated Depreciation and Amortization	7,805
Industrial Property | Romulus, Michigan
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,438
Buildings and Improvements	33,786
Total	36,224
Accumulated Depreciation and Amortization	7,389
Industrial Property | Minneapolis, Minnesota
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,886
Buildings and Improvements	1,922
Total	3,808
Accumulated Depreciation and Amortization	559
Industrial Property | Byhalia, Mississippi | Byhalia, MS Industrial Property Acquired May-11
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,006
Buildings and Improvements	35,795
Total	36,801
Accumulated Depreciation and Amortization	9,570
Industrial Property | Byhalia, Mississippi | Byhalia, MS Industrial Property Acquired Sep-17
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,751
Buildings and Improvements	31,429
Total	33,180
Accumulated Depreciation and Amortization	7,735
Industrial Property | Canton, Mississippi
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	5,077
Buildings and Improvements	71,289
Total	76,366
Accumulated Depreciation and Amortization	23,310
Industrial Property | Olive Branch, Mississippi | Olive Branch, MS Industrial Acquired Apr- 18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,500
Buildings and Improvements	42,556
Total	45,056
Accumulated Depreciation and Amortization	7,299
Industrial Property | Olive Branch, Mississippi | Olive Branch, MS Industrial Acquired Apr- 18, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,958
Buildings and Improvements	38,702
Total	40,660
Accumulated Depreciation and Amortization	6,710
Industrial Property | Olive Branch, Mississippi | Olive Branch, MS Industrial Acquired May-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,646
Buildings and Improvements	40,446
Total	43,092
Accumulated Depreciation and Amortization	4,497
Industrial Property | Olive Branch, Mississippi | Olive Branch, MS Industrial Acquired May-19, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	851
Buildings and Improvements	15,464
Total	16,315
Accumulated Depreciation and Amortization	1,699
Industrial Property | Henderson, North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,488
Buildings and Improvements	7,222
Total	8,710
Accumulated Depreciation and Amortization	3,091
Industrial Property | Shelby, North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,421
Buildings and Improvements	18,862
Total	20,283
Accumulated Depreciation and Amortization	7,420
Industrial Property | Statesville, North Carolina
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	891
Buildings and Improvements	18,594
Total	19,485
Accumulated Depreciation and Amortization	7,036
Industrial Property | Erwin, New York
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,648
Buildings and Improvements	12,514
Total	14,162
Accumulated Depreciation and Amortization	4,488
Industrial Property | Long Island City, New York
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	28,980
Land and Land Estates	0
Buildings and Improvements	42,759
Total	42,759
Accumulated Depreciation and Amortization	25,128
Industrial Property | Chillicothe, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	735
Buildings and Improvements	10,939
Total	11,674
Accumulated Depreciation and Amortization	4,315
Industrial Property | Columbus, OH
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,251
Buildings and Improvements	25,280
Total	27,531
Accumulated Depreciation and Amortization	364
Industrial Property | Glenwillow, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,228
Buildings and Improvements	24,530
Total	26,758
Accumulated Depreciation and Amortization	9,570
Industrial Property | Hebron, Ohio | Hebron, OH Industrial, Acquired Dec-97
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,063
Buildings and Improvements	4,947
Total	6,010
Accumulated Depreciation and Amortization	2,565
Industrial Property | Hebron, Ohio | Hebron, OH Industrial, Acquired Dec-01
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,052
Buildings and Improvements	8,179
Total	10,231
Accumulated Depreciation and Amortization	4,373
Industrial Property | Lockbourne, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,800
Buildings and Improvements	16,731
Total	19,531
Accumulated Depreciation and Amortization	626
Industrial Property | Monroe, Ohio | Monroe, OH Industrial Acquired Jun-21
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,109
Buildings and Improvements	16,477
Total	17,586
Accumulated Depreciation and Amortization	419
Industrial Property | Monroe, Ohio | Monroe, OH Industrial Acquired Sep-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	544
Buildings and Improvements	12,370
Total	12,914
Accumulated Depreciation and Amortization	1,236
Industrial Property | Monroe, Ohio | Monroe, OH Industrial Acquired Sep-19, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,123
Buildings and Improvements	60,702
Total	63,825
Accumulated Depreciation and Amortization	6,321
Industrial Property | Monroe, Ohio | Monroe, OH Industrial Acquired Sep-19, Property 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,950
Buildings and Improvements	88,422
Total	92,372
Accumulated Depreciation and Amortization	8,867
Industrial Property | Streetsboro, Ohio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,441
Buildings and Improvements	25,282
Total	27,723
Accumulated Depreciation and Amortization	11,970
Industrial Property | Wilsonville, Oregon
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,815
Buildings and Improvements	32,424
Total	39,239
Accumulated Depreciation and Amortization	7,444
Industrial Property | Bristol, Pennsylvania
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,508
Buildings and Improvements	15,863
Total	18,371
Accumulated Depreciation and Amortization	9,355
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Jul-21
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,819
Buildings and Improvements	24,508
Total	27,327
Accumulated Depreciation and Amortization	529
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Jul-21, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,169
Buildings and Improvements	23,070
Total	24,239
Accumulated Depreciation and Amortization	490
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Jul-21 Property 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,020
Buildings and Improvements	17,444
Total	18,464
Accumulated Depreciation and Amortization	371
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Jul-21, Property 4
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,710
Buildings and Improvements	27,817
Total	29,527
Accumulated Depreciation and Amortization	594
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Oct-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,406
Buildings and Improvements	14,272
Total	15,678
Accumulated Depreciation and Amortization	1,395
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Oct-19, Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,257
Buildings and Improvements	13,252
Total	14,509
Accumulated Depreciation and Amortization	1,300
Industrial Property | Duncan, South Carolina | Duncan, SC Industrial Acquired Apr-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,615
Buildings and Improvements	27,830
Total	29,445
Accumulated Depreciation and Amortization	3,284
Industrial Property | Greer, South Carolina | Greer, SC Industrial Acquired Jun-21
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,376
Buildings and Improvements	32,127
Total	34,503
Accumulated Depreciation and Amortization	687
Industrial Property | Greer, South Carolina | Greer, SC Industrial Acquired Dec-19
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,959
Buildings and Improvements	78,405
Total	85,364
Accumulated Depreciation and Amortization	6,661
Industrial Property | Greer, South Carolina | Greer, SC Industrial Acquired Jun-21 Property, Not Stabilized
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,329
Buildings and Improvements	21,465
Total	22,794
Accumulated Depreciation and Amortization	465
Industrial Property | Spartanburg, South Carolina | Spartanburg, SC Industrial Acquired Aug-18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,447
Buildings and Improvements	23,758
Total	25,205
Accumulated Depreciation and Amortization	4,267
Industrial Property | Spartanburg, South Carolina | Spartanburg, SC Industrial Acquired Dec-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,186
Buildings and Improvements	15,820
Total	17,006
Accumulated Depreciation and Amortization	697
Industrial Property | Antioch, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,847
Buildings and Improvements	13,926
Total	17,773
Accumulated Depreciation and Amortization	5,152
Industrial Property | Cleveland, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,871
Buildings and Improvements	29,743
Total	31,614
Accumulated Depreciation and Amortization	6,056
Industrial Property | Jackson, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,454
Buildings and Improvements	49,132
Total	50,586
Accumulated Depreciation and Amortization	8,928
Industrial Property | Lewisburg, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	173
Buildings and Improvements	10,865
Total	11,038
Accumulated Depreciation and Amortization	2,601
Industrial Property | Millington, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	723
Buildings and Improvements	20,383
Total	21,106
Accumulated Depreciation and Amortization	15,590
Industrial Property | Smyrna, Tennessee
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,793
Buildings and Improvements	93,940
Total	95,733
Accumulated Depreciation and Amortization	17,523
Industrial Property | Carrollton, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,228
Buildings and Improvements	16,234
Total	19,462
Accumulated Depreciation and Amortization	3,301
Industrial Property | Dallas, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,420
Buildings and Improvements	23,330
Total	25,750
Accumulated Depreciation and Amortization	2,628
Industrial Property | Deer Park, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	6,489
Buildings and Improvements	28,470
Total	34,959
Accumulated Depreciation and Amortization	828
Industrial Property | Grand Prairie, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,166
Buildings and Improvements	17,985
Total	21,151
Accumulated Depreciation and Amortization	3,509
Industrial Property | Houston, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	15,055
Buildings and Improvements	57,949
Total	73,004
Accumulated Depreciation and Amortization	15,783
Industrial Property | Hutchins, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,307
Buildings and Improvements	8,466
Total	9,773
Accumulated Depreciation and Amortization	596
Industrial Property | Lancaster, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,847
Buildings and Improvements	25,037
Total	28,884
Accumulated Depreciation and Amortization	1,098
Industrial Property | Missouri City, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	14,555
Buildings and Improvements	5,895
Total	20,450
Accumulated Depreciation and Amortization	5,895
Industrial Property | Northlake, Texas | Northlake, TX Industrial Acquired Feb-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,500
Buildings and Improvements	71,636
Total	76,136
Accumulated Depreciation and Amortization	5,614
Industrial Property | Northlake, Texas | Northlake, TX Industrial Acquired Dec-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,938
Buildings and Improvements	37,189
Total	41,127
Accumulated Depreciation and Amortization	1,802
Industrial Property | Pasadena, Texas | Pasadena, TX Industrial Acquired Jun-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,202
Buildings and Improvements	17,096
Total	19,298
Accumulated Depreciation and Amortization	1,104
Industrial Property | Pasadena, Texas | Pasadena, TX Industrial Acquired May-21
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,272
Buildings and Improvements	22,296
Total	26,568
Accumulated Depreciation and Amortization	642
Industrial Property | Pasadena, Texas | Pasadena, TX Industrial Acquired May-21 Property 2
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,792
Buildings and Improvements	9,089
Total	10,881
Accumulated Depreciation and Amortization	259
Industrial Property | Pasadena, Texas | Pasadena, TX Industrial Acquired Aug-18
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,057
Buildings and Improvements	17,810
Total	21,867
Accumulated Depreciation and Amortization	2,713
Industrial Property | San Antonio, Texas
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,311
Buildings and Improvements	36,644
Total	37,955
Accumulated Depreciation and Amortization	7,093
Industrial Property | Chester, Virginia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	8,544
Buildings and Improvements	53,067
Total	61,611
Accumulated Depreciation and Amortization	8,123
Industrial Property | Winchester, Virginia | Winchester, VA Industrial Acquired Dec-17
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,988
Buildings and Improvements	32,536
Total	34,524
Accumulated Depreciation and Amortization	5,567
Industrial Property | Winchester, Virginia | Winchester, VA Industrial Acquired Jun-07
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	3,823
Buildings and Improvements	12,276
Total	16,099
Accumulated Depreciation and Amortization	5,222
Industrial Property | Winchester, Virginia | Winchester, VA Industrial Acquired Sept-20
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,818
Buildings and Improvements	24,422
Total	27,240
Accumulated Depreciation and Amortization	1,427
Industrial Property | Phoenix, AZ | Phoenix, AZ Industrial Acquired Dec-21 Property, Not Stabilized
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	8,027
Buildings and Improvements	73,650
Total	81,677
Accumulated Depreciation and Amortization	0
Industrial Property | Lakeland, Florida | Lakeland, FL Industrial Acquired Jan-21 Property, Not Stabilized
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,416
Buildings and Improvements	20,140
Total	21,556
Accumulated Depreciation and Amortization	782
Industrial Property | Plant City, Florida | Plant City, FL Industrial Acquired Dec-21 Property, Not Stabilized
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,610
Buildings and Improvements	45,983
Total	48,593
Accumulated Depreciation and Amortization	1,165
Industrial Property | Adairsville, Georgia | Adairsville, GA Industrial Acquired Dec-21 Property, Not Stabilized
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	1,465
Buildings and Improvements	23,649
Total	25,114
Accumulated Depreciation and Amortization	0
Other Property | McDonough, Georgia
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	2,463
Buildings and Improvements	24,811
Total	27,274
Accumulated Depreciation and Amortization	9,718
Other Property | Palo Alto, California
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	13,803
Land and Land Estates	12,400
Buildings and Improvements	16,977
Total	29,377
Accumulated Depreciation and Amortization	26,886
Other Property | Owensboro, Kentucky
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	819
Buildings and Improvements	2,439
Total	3,258
Accumulated Depreciation and Amortization	1,324
Other Property | Baltimore, Maryland
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	4,605
Buildings and Improvements	0
Total	4,605
Accumulated Depreciation and Amortization	0
Construction in Progress
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land and Land Estates	0
Buildings and Improvements	0
Total	5,482
Accumulated Depreciation and Amortization	$ 0

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation and Amortization - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Total cost basis for federal income tax purposes	$ 4,200,000
Reconciliation of real estate owned:
Balance at the beginning of year	3,514,564	$ 3,320,574	$ 3,090,134
Additions during year	860,311	580,861	663,742
Properties sold and impaired during the year	(653,247)	(354,218)	(496,730)
Other reclassifications	(137,650)	(32,653)	63,428
Balance at end of year	3,583,978	3,514,564	3,320,574
Reconciliation of accumulated depreciation and amortization:
Balance at the beginning of year	684,468	675,596	722,644
Depreciation and amortization expense	138,879	127,504	118,525
Accumulated depreciation and amortization of properties sold, impaired and held for sale during year	(244,751)	(102,261)	(177,709)
Other reclassifications	(73,897)	(16,371)	12,136
Balance at end of year	$ 504,699	$ 684,468	$ 675,596