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Concentration
12 Months Ended
Dec. 31, 2013
Concentration  
Concentration

Note 6. Concentration

Tenant and Credit Concentration

        We define annualized rental income as the annualized contractual base rents from our tenants pursuant to our lease agreements with them as of the measurement date, plus straight line rent adjustments and estimated recurring expense reimbursements to be paid to us, and excluding lease value amortization. The U.S. Government, 11 state governments and the United Nations combined were responsible for approximately 92.6%, 93.8% and 91.7% of our annualized rental income, excluding properties classified as discontinued operations, as of December 31, 2013, 2012 and 2011, respectively. The U.S. Government is our largest tenant by annualized rental income and was responsible for approximately 69.0%, 71.0% and 68.1% of our annualized rental income, excluding properties classified as discontinued operations, as of December 31, 2013, 2012 and 2011, respectively.

Geographic Concentration

        At December 31, 2013, our 68 properties (87 buildings), excluding properties classified as discontinued operations, were located in 31 states and the District of Columbia. Properties located in Maryland, California, the District of Columbia, Georgia, New York and Massachusetts were responsible for approximately 13.2%, 11.5%, 10.3%, 9.8%, 8.8% and 5.8% of our annualized rental income as of December 31, 2013, respectively.