SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2022

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

FOR THE YEAR ENDED DECEMBER 31, 2022

(In thousands)

							Costs Capitalized
			Initial Cost to Company				Subsequent to Acquisition
Description	Encumbrances		Land		Buildings & Improvements		Improvements		Carrying Costs
Income Properties:
Westcliff Shopping Center, Fort Worth, TX	$	—	$	10,521	$	4,196	$	400	$	—
Crabby's Oceanside, Daytona Beach, FL		—		5,836		4,249		45		—
LandShark Bar & Grill, Daytona Beach, FL		—		5,836		4,577		10		—
Fidelity, Albuquerque, NM		—		5,739		29,537		12		—
General Dynamics, Reston, VA		—		7,530		9,068		—		—
The Strand at St. Johns Town Center, Jacksonville, FL		—		12,551		36,431		314		—
Crossroads Towne Center, Chandler, AZ		—		9,592		41,717		364		—
Ashford Lane, Atlanta, GA		—		37,717		33,422		11,622		—
Sabal Pavilion, Tampa, FL		—		3,265		20,629		—		—
Jordan Landing, West Jordan, UT		—		10,529		5,752		—		—
Eastern Commons, Henderson, NV		—		7,894		8,575		—		—
The Shops at Legacy, Plano, TX		—		22,008		27,192		794		—
Beaver Creek Crossings, Apex, NC		—		21,383		39,194		260		—
125 Lincoln & 150 Washington, Santa Fe, NM		—		459		12,525		—		—
369 N. New York Ave., Winter Park, FL		—		8,524		5,139		18		—
The Exchange at Gwinnett, Buford, GA		—		4,450		25,300		10		—
Price Plaza, Katy, TX		—		15,630		17,978		—		—
Madison Yards, Atlanta, GA		—		19,780		47,938		224		—
West Broad Village, Glen Allen, VA		—		12,120		65,829		—		—
Collection at Forsyth, Cummings, GA		—		9,062		75,286		—		—
MainStreet Portfolio, Daytona Beach, FL		—		3,504		1,422		—		—
	$	—	$	233,930	$	515,956	$	14,073	$	—

(1) The aggregate cost, net of deferred tax liabilities, of Income Properties, Land, Buildings, and Improvements for Federal income tax purposes at December 31, 2022 is approximately $448.5 million.

Gross Amount at Which

Carried at Close of Period

December 31, 2022

(In thousands) 

	Land		Buildings		Total		Accumulated Depreciation		Date of Completion of Construction	Date Acquired	Life
Income Properties:
Westcliff Shopping Center, Fort Worth, TX	$	10,521	$	4,596	$	15,117	$	2,528	N/A	03/01/17	10 Yrs.
Crabby's Oceanside, Daytona Beach, FL		5,836		4,294		10,130		1,151	01/25/18	N/A	40 Yrs.
LandShark Bar & Grill, Daytona Beach, FL		5,836		4,587		10,423		1,092	01/25/18	N/A	40 Yrs.
Fidelity, Albuquerque, NM		5,739		29,549		35,288		4,779	N/A	10/04/18	45 Yrs.
General Dynamics, Reston, VA		7,530		9,068		16,598		1,703	N/A	7/12/2019	35 Yrs.
The Strand at St. Johns Town Center, Jacksonville, FL		12,551		36,745		49,296		4,331	N/A	12/9/2019	48 Yrs.
Crossroads Towne Center, Chandler, AZ		9,592		42,081		51,673		4,220	N/A	1/24/2020	35 Yrs.
Ashford Lane, Atlanta, GA		37,717		45,099		82,816		3,547	N/A	2/21/2020	36 Yrs.
Sabal Pavilion, Tampa, FL		3,265		20,629		23,894		2,184	N/A	8/21/2020	40 Yrs.
Jordan Landing, West Jordan, UT		10,529		5,752		16,281		549	N/A	3/2/2021	30 Yrs.
Eastern Commons, Henderson, NV		7,894		8,575		16,469		715	N/A	3/10/2021	35 Yrs.
The Shops at Legacy, Plano, TX		22,008		27,986		49,994		2,794	N/A	6/23/2021	32 Yrs.
Beaver Creek Crossings, Apex, NC		21,383		39,454		60,837		2,005	N/A	12/2/2021	30 Yrs.
125 Lincoln & 150 Washington, Santa Fe, NM		459		12,525		12,984		672	N/A	12/20/2021	30 Yrs.
369 N. New York Ave., Winter Park, FL		8,524		5,157		13,681		303	N/A	12/20/2021	30 Yrs.
The Exchange at Gwinnett, Buford, GA		4,450		25,310		29,760		765	N/A	12/30/2021	45 Yrs.
Price Plaza, Katy, TX		15,630		17,978		33,608		857	N/A	3/3/2022	25 Yrs.
Madison Yards, Atlanta, GA		19,780		48,162		67,942		646	N/A	7/8/2022	42 Yrs.
West Broad Village, Glen Allen, VA		12,120		65,829		77,949		639	N/A	10/14/2022	40 Yrs.
Collection at Forsyth, Cummings, GA		9,007		75,286		84,293		31	N/A	12/29/2022	31 Yrs.
MainStreet Portfolio, Daytona Beach, FL		3,504		1,422		4,926		1	N/A	12/29/2022	25 Yrs.
	$	233,875	$	530,084	$	763,959	$	35,512

REAL ESTATE AND ACCUMULATED DEPRECIATION

FOR THE YEAR ENDED DECEMBER 31, 2022

(In thousands)

	2022		2021		2020
Cost:
Balance at Beginning of Year	$	521,260	$	472,126	$	392,842
Additions and Improvements		281,562		206,646		147,359
Cost of Real Estate Sold		(38,863)		(157,512)		(68,075)
Balance at End of Year	$	763,959	$	521,260	$	472,126
Accumulated Depreciation:
Balance at Beginning of Year		23,936		30,316		22,552
Depreciation and Amortization		16,262		12,270		11,207
Depreciation on Real Estate Sold		(4,686)		(18,650)		(3,443)
Balance at End of Year	$	35,512	$	23,936	$	30,316
Reconciliation to Consolidated Balance Sheet at December 31, 2022:
Income Properties, Land, Buildings, and Improvements	$	763,959	$	515,007
		763,959		515,007
Cost Basis of Assets Classified as Held for Sale on Balance Sheet		-		6,253
Total Per Schedule	$	763,959	$	521,260