Schedule III - Real Estate and Accumulated Depreciation as of December 31, 2023

12 Months Ended

Dec. 31, 2023

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

Schedule III - Real Estate and Accumulated Depreciation as of December 31, 2023

Schedule III - Real Estate and Accumulated Depreciation as of December 31, 2023

(Dollars in thousands)

					Initial Cost				Costs Capitalized Subsequent to Acquisition(2)				Gross Amounts at which Carried at the Close of Period
Description	Location	Number of Properties	Encumbrances		Land and Land Improvements		Buildings		Land and Land Improvements		Buildings		Land and Land Improvements		Buildings		Total		Accumulated Depreciation (1)		Year Acquired
Flex Property
	Seattle, WA	1	$	—	$	1,792	$	692	$	—	$	—	$	1,792	$	692	$	2,484	$	(38)	2022
Industrial Properties
	Amana, IA	1	—		10,097		98,289		—		—		10,097		$	98,289	108,386		(5,637)		2022
	Arkoma, OK	1	—		1,255		1,557		—		—		1,255		$	1,557	2,812		(105)		2022
	Bowling Green, KY	1	—		4,337		141,562		—		—		4,337		$	141,562	145,899		(7,071)		2022
	Brookshire, TX	1	—		1,570		3,963		—		—		1,570		$	3,963	5,533		(209)		2022
	Bryan, TX	1	—		2,059		2,070		—		—		2,059		$	2,070	4,129		(139)		2022
	Calgary, AB, Canada	1	278,015		33,775		—		15,233		403,986		49,008		$	403,986	452,994		(3,107)		2022
	Cape Girardeau, MI	1	—		602		1,631		—		—		602		$	1,631	2,233		(131)		2022
	Cornwall, ON, Canada	1	—		3,436		31,867		81		749		3,517		$	32,616	36,133		(1,807)		2022
	Council Bluffs, IA	1	—		1,702		2,185		—		—		1,702		$	2,185	3,887		(108)		2022
	Fayetteville, NC	1	—		18,176		—		17,269		142,601		35,445		$	142,601	178,046		(2,436)		2022
	Gaston, SC	1	—		813		2,330		—		—		813		$	2,330	3,143		(153)		2022
	Harlingen, TX	1	—		1,407		2,150		—		—		1,407		$	2,150	3,557		(111)		2022
	Houston, TX	1	—		1,441		4,266		—		—		1,441		$	4,266	5,707		(219)		2022
	Huckelhoven, Germany	1	—		8,626		104,892		—		—		8,626		104,892		113,518		(3,353)		2023
	Knowsley, UK	1	46,585		25,791		66,669		—		—		25,791		66,669		92,460		(2,624)		2023
	Madison, AL	1	103,031		18,101		—		9,101		148,395		27,202		$	148,395	175,597		(2,854)		2022
	Modesto, CA	1	—		2,508		8,086		—		—		2,508		8,086		10,594		(324)		2023
	Oregon, OH	1	—		1,116		1,614		—		—		1,116		$	1,614	2,730		(142)		2022
	Orilla, ON, Canada	1	—		3,482		3,575		—		—		3,482		$	3,575	7,057		(285)		2022
	Pasco, WA	2	118,374		21,289		—		35,675		351,148		56,964		$	351,148	408,112		(7,420)		2022
	Plymouth, MI	2	—		10,324		37,314		—		—		10,324		$	37,314	47,638		(1,284)		2022, 2023
	Roseville, CA	1	—		15,357		55,260		—		—		15,357		$	55,260	70,617		(1,280)		2023
	St. Mary's, OH	1	—		4,791		19,358		—		—		4,791		$	19,358	24,149		(1,007)		2023
	Spanish Fork, UT	1	—		949		1,694		—		—		949		$	1,694	2,643		(63)		2022
	Stuart, FL	2	—		7,600		26,345		—		—		7,600		$	26,345	33,945		(1,576)		2022
	Wichita Falls, TX	1	—		1,142		1,877		—		—		1,142		$	1,877	3,019		(80)		2022
Total Industrial Properties:		29	546,005		201,746		618,554		77,359		1,046,879		279,105		1,665,433		1,944,538		(43,525)
Office Properties
	Columbia, MO	1	—		1,493		13,600		—		—		1,493		13,600		15,093		(480)		2022
	Houston, TX	1	—		4,432		142,208		—		—		4,432		142,208		146,640		(3,761)		2022
	Readington, NJ	2	—		5,848		48,246		—		—		5,848		48,246		54,094		(2,441)		2022
Total Office Properties:		4	—		11,773		204,054		—		—		11,773		204,054		215,827		(6,682)
Retail Properties
	Albemarle, NC	1	—		751		2,168		—		29		751		2,197		2,948		(124)		2022

Albuquerque, NM	2	—	2,585	7,220	—	—	2,585	7,220	9,805	(434)	2022
Alexandria, LA	1	—	635	4,257	—	—	635	4,257	4,892	(204)	2022
Allen, TX	1	—	1,633	1,931	—	—	1,633	1,931	3,564	(151)	2022
Alma, AR	1	—	325	2,946	—	—	325	2,946	3,271	(188)	2022
Alpena, AR	1	—	721	486	—	12	721	498	1,219	(66)	2022
Archdale, NC	1	—	812	2,369	—	31	812	2,400	3,212	(134)	2022
Arlington, TX	1	—	1,997	1,298	—	—	1,997	1,298	3,295	(178)	2022
Asheboro, NC	3	—	2,826	3,873	—	66	2,826	3,939	6,765	(317)	2022
Aurora, CO	1	—	2,421	3,737	—	—	2,421	3,737	6,158	(198)	2022
Barboursville, WV	1	—	1,354	3,220	—	—	1,354	3,220	4,574	(222)	2022
Bastrop, LA	1	—	951	2,410	—	33	951	2,443	3,394	(162)	2022
Beckley, WV	1	—	915	3,171	—	—	915	3,171	4,086	(240)	2022
Biscoe, NC	1	—	1,101	697	—	18	1,101	715	1,816	(74)	2022
Bowling Green, KY	1	—	1,452	893	—	—	1,452	893	2,345	(142)	2022
Brentwood, CA	1	—	3,688	18,750	—	—	3,688	18,750	22,438	(255)	2023
Bryan, TX	1	—	1,322	1,914	—	—	1,322	1,914	3,236	(148)	2022
BUDA, TX	1	—	2,008	2,354	—	—	2,008	2,354	4,362	(146)	2022
Buford, GA	1	—	1,097	1,506	—	—	1,097	1,506	2,603	(145)	2022
Bull Shoals, AR	1	—	656	346	—	9	656	355	1,011	(54)	2022
Candor, NC	2	—	1,572	1,536	—	30	1,572	1,566	3,138	(184)	2022
Canton, GA	1	—	903	1,906	—	—	903	1,906	2,809	(148)	2022
Chatsworth, GA	1	—	302	4,622	—	—	302	4,622	4,924	(200)	2022
Chesapeake, VA	1	—	1,039	2,057	—	—	1,039	2,057	3,096	(146)	2022
Chester, VA	1	—	1,373	3,465	—	—	1,373	3,465	4,838	(217)	2022
Clearwater, FL	1	—	1,731	4,402	—	—	1,731	4,402	6,133	(200)	2022
Clemmons, NC	1	—	1,238	1,285	—	—	1,238	1,285	2,523	(160)	2022
Cleveland Heights, OH	1	—	1,927	3,193	—	—	1,927	3,193	5,120	(207)	2022
Clovis, CA	1	—	3,392	7,571	—	—	3,392	7,571	10,963	(178)	2023
Columbia, TN	1	—	1,382	2,390	—	—	1,382	2,390	3,772	(155)	2022
Concord, NC	1	—	2,045	1,431	—	—	2,045	1,431	3,476	(142)	2022
Conroe, TX	1	—	1,843	1,774	—	—	1,843	1,774	3,617	(158)	2022
Convoy, OH	1	—	485	1,370	—	18	485	1,388	1,873	(76)	2022
Corpus Christi, TX	1	—	783	4,143	—	—	783	4,143	4,926	(192)	2022
Crestview, FL	1	—	1,797	4,337	—	—	1,797	4,337	6,134	(225)	2022
Crossville, TN	1	—	1,084	447	—	—	1,084	447	1,531	(145)	2022
Dallas, TX	3	—	8,270	20,598	—	290	8,270	20,888	29,158	(1,117)	2022
Delhi, LA	2	—	2,934	3,409	—	64	2,934	3,473	6,407	(383)	2022
Denton, TX	1	—	2,153	920	—	—	2,153	920	3,073	(148)	2022
Deshler, OH	1	—	610	1,210	—	18	610	1,228	1,838	(87)	2022
Ellerbe, NC	1	—	542	2,391	—	30	542	2,421	2,963	(127)	2022
Fairmont, WV	1	—	960	3,419	—	—	960	3,419	4,379	(182)	2022
Flagstaff, AZ	1	—	1,193	1,090	—	—	1,193	1,090	2,283	(153)	2022
Flippin, AR	1	—	936	273	—	12	936	285	1,221	(71)	2022
Florida City, FL	1	—	1,702	2,194	—	—	1,702	2,194	3,896	(157)	2022

Fort Payne, AL	1	—	330	4,573	—	—	330	4,573	4,903	(199)	2022
Fort Wayne, IN	2	—	1,441	4,156	—	57	1,441	4,213	5,654	(240)	2022
Fremont, CA	1	—	13,903	9,906	—	—	13,903	9,906	23,809	(191)	2023
Fresno, CA	1	—	2,218	3,350	—	—	2,218	3,350	5,568	(94)	2023
Gaffney, SC	1	—	613	3,253	—	—	613	3,253	3,866	(197)	2022
Galt, CA	1	—	2,617	6,138	—	—	2,617	6,138	8,755	(182)	2023
Gassville, AR	1	—	986	284	—	13	986	297	1,283	(71)	2022
Green Bay, WI	1	—	890	3,816	—	—	890	3,816	4,706	(207)	2022
Greensboro, NC	1	—	1,191	1,090	—	—	1,191	1,090	2,281	(172)	2022
Greenville, AL	1	—	663	2,800	—	—	663	2,800	3,463	(192)	2022
Harker Heights, TX	1	—	606	2,005	—	—	606	2,005	2,611	(128)	2022
Harlan, IN	1	—	700	2,801	—	36	700	2,837	3,537	(138)	2022
Haw River, NC	1	—	1,234	322	—	16	1,234	338	1,572	(77)	2022
Hillside, IL	1	—	1,919	4,481	—	—	1,919	4,481	6,400	(237)	2022
Homer, LA	1	—	946	1,064	—	20	946	1,084	2,030	(140)	2022
Homosassa, FL	1	—	276	3,913	—	—	276	3,913	4,189	(179)	2022
Houston, TX	3	—	4,792	9,530	—	—	4,792	9,530	14,322	(550)	2022
Indianapolis, IN	1	—	1,082	1,366	—	—	1,082	1,366	2,448	(142)	2022
Irmo, SC	1	—	1,130	2,152	—	—	1,130	2,152	3,282	(146)	2022
Irving, TX	1	—	1,531	11,413	—	130	1,531	11,543	13,074	(555)	2022
Jacksonville, FL	1	—	984	2,102	—	—	984	2,102	3,086	(147)	2022
Jonesville, NC	1	—	704	2,413	—	—	704	2,413	3,117	(163)	2022
Junction City, LA	1	—	309	1,873	—	22	309	1,895	2,204	(101)	2022
Killeen, TX	1	—	2,186	2,829	—		2,186	2,829	5,015	(157)	2022
Kissimmee, FL	2	—	4,144	8,262	—	—	4,144	8,262	12,406	(432)	2022
Lakeland, FL	1	—	911	1,463	—	—	911	1,463	2,374	(151)	2022
Lakeland, TN	1	—	587	2,677	—	—	587	2,677	3,264	(164)	2022
League City, TX	1	—	1,712	1,470	—	—	1,712	1,470	3,182	(181)	2022
Lemoore, CA	1	—	1,767	12,227	—	—	1,767	12,227	13,994	(168)	2023
Lenoir City, TN	1	—	831	1,658	—	—	831	1,658	2,489	(161)	2022
Lexington, NC	1	—	628	3,351	—	40	628	3,391	4,019	(168)	2022
Liberty, NC	1	—	770	2,463	—	32	770	2,495	3,265	(146)	2022
Lima, OH	1	—	823	2,363	—	31	823	2,394	3,217	(137)	2022
Lincolnwood, IL	1	—	2,020	4,413	—	—	2,020	4,413	6,433	(239)	2022
Locust, NC	1	—	2,134	338	—	25	2,134	363	2,497	(136)	2022
McAllen, TX	1	—	778	2,279	—	—	778	2,279	3,057	(137)	2022
McComb, OH	1	—	644	2,227	—	28	644	2,255	2,899	(109)	2022
Mesquite, TX	1	—	3,207	8,040	—	113	3,207	8,153	11,360	(451)	2022
Midway, AR	1	—	838	365	—	12	838	377	1,215	(65)	2022
Montgomery, AL	1	—	616	1,458	—	—	616	1,458	2,074	(138)	2022
Morrisville, NC	1	—	2,490	1,943	—	—	2,490	1,943	4,433	(162)	2022
Mount Arlington, NJ	1	—	1,296	2,268	—	—	1,296	2,268	3,564	(189)	2022
Mount Laurel, NJ	1	—	1,596	1,823	—	—	1,596	1,823	3,419	(245)	2022
Mountain Home, AR	3	—	2,233	1,495	—	38	2,233	1,533	3,766	(201)	2022

	Murfreesboro, TN	1	—		2,127	1,689	—	—	2,127	1,689	3,816	(161)	2022
	Nampa, ID	1	—		422	4,481	—	—	422	4,481	4,903	(220)	2022
	Naples, FL	1	—		2,308	1,611	—	—	2,308	1,611	3,919	(173)	2022
	Newnan, GA	1	—		1,610	1,200	—	—	1,610	1,200	2,810	(150)	2022
	Oakboro, NC	1	—		564	1,342	—	18	564	1,360	1,924	(87)	2022
	Oxford, AL	1	—		1,716	1,814	—	—	1,716	1,814	3,530	(172)	2022
	Palm Bay, FL	2	—		1,880	8,140	—	—	1,880	8,140	10,020	(373)	2022
	Patterson, CA	1	—		2,408	7,031	—	—	2,408	7,031	9,439	(151)	2023
	Paulding, OH	1	—		691	1,331	—	20	691	1,351	2,042	(89)	2022
	Pigeon Forge, TN	1	—		4,744	1,339	—	—	4,744	1,339	6,083	(181)	2022
	Pleasanton, TX	1	—		448	4,569	—	—	448	4,569	5,017	(217)	2022
	Prospect Heights, IL	1	—		1,119	5,278	—	—	1,119	5,278	6,397	(263)	2022
	Ramseur, NC	1	—		1,112	1,128	—	23	1,112	1,151	2,263	(128)	2022
	Randleman, NC	1	—		529	1,825	—	23	529	1,848	2,377	(102)	2022
	Richmond, VA	1	—		1,112	2,083	—	—	1,112	2,083	3,195	(166)	2022
	Robbins, NC	1	—		664	2,236	—	29	664	2,265	2,929	(114)	2022
	Rockingham, NC	1	—		2,637	3,426	—	60	2,637	3,486	6,123	(260)	2022
	Round Rock, TX	1	—		2,528	1,426	—	—	2,528	1,426	3,954	(154)	2022
	Ruston, LA	1	—		1,107	773	—	19	1,107	792	1,899	(92)	2022
	Sacramento, CA	1	—		3,194	4,084	—	—	3,194	4,084	7,278	(151)	2023
	Salem, OR	1	—		976	3,733	—	—	976	3,733	4,709	(213)	2022
	San Antonio, TX	2	—		4,258	4,651	—	—	4,258	4,651	8,909	(334)	2022
	San Marcos, TX	1	—		821	3,489	—	—	821	3,489	4,310	(151)	2022
	Seagrove, NC	1	—		2,016	913	—	29	2,016	942	2,958	(159)	2022
	Southaven, MS	1	—		1,317	3,115	—	—	1,317	3,115	4,432	(177)	2022
	Springdale, AR	1	—		1,307	2,926	—	—	1,307	2,926	4,233	(191)	2022
	Star, NC	1	—		498	1,379	—	19	498	1,398	1,896	(75)	2022
	Sterling, CO	1	—		1,181	3,833	—	—	1,181	3,833	5,014	(216)	2022
	Tehachapi, CA	1	—		1,942	8,258	—	—	1,942	8,258	10,200	(141)	2023
	Texarkana, TX	1	—		1,088	3,220	—	—	1,088	3,220	4,308	(182)	2022
	Thomasville, NC	2	—		1,127	4,622	—	58	1,127	4,680	5,807	(269)	2022
	Titusville, FL	1	—		1,518	960	—	—	1,518	960	2,478	(165)	2022
	Troy, NC	3	—		1,991	3,573	—	56	1,991	3,629	5,620	(266)	2022
	Tucson, AZ	1	—		1,357	4,565	—	—	1,357	4,565	5,922	(248)	2022
	Turlock, CA	1	—		2,748	3,848	—	—	2,748	3,848	6,596	(109)	2023
	Waite Park, MN	1	—		988	4,029	—	—	988	4,029	5,017	(207)	2022
	Welcome, NC	1	—		828	1,275	—	20	828	1,295	2,123	(95)	2022
	Wilmington, NC	1	—		1,513	1,232	—	—	1,513	1,232	2,745	(153)	2022
	Winston-Salem, NC	1	—		572	1,217	—	18	572	1,235	1,807	(78)	2022
	Wynne, AR	1	—		957	298	—	13	957	311	1,268	(93)	2022
	Wyoming, MI	1	—		621	3,376	—	—	621	3,376	3,997	(175)	2022
Total Retail Properties:		148	—		207,266	418,510	—	1,678	207,266	420,188	627,454	(24,226)
Portfolio Total		182	$	546,005	422,577	1,241,810	77,359	1,048,557	499,936	2,290,367	2,790,303	(74,471)

The aggregate cost basis of real estate owned as of December 31, 2023 for federal income tax purposes was approximately $2,097,821 (unaudited).

(1) Refer to Note 2 – Summary of Significant Accounting Policies for details of depreciable lives.

(2) Costs capitalized subsequent to acquisition include the impact of foreign exchange translation and construction in process.

	December 31, 2023
Real Estate:
Balance at beginning of period	$	2,264,677
Additions during period:
Land and land improvements	177,145
Buildings	348,481
Balance at the end of the year	$	2,790,303
Accumulated Depreciation:
Balance at the beginning of year	$	(9,003)
Accumulated depreciation	(65,468)
Balance at the end of the year	$	(74,471)