SCHEDULE III

12 Months Ended

Dec. 31, 2015

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

SCHEDULE III

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances		Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
			Land	Buildings and Improvements		Land	Buildings and Improvements	Total
Real Estate Properties (c):
Industrial:
FLORIDA
Tampa
56th Street Commerce Park	$	—	843	3,567	4,324	843	7,891	8,734	5,568	1993	1981/86/97
Jetport Commerce Park	—		1,575	6,591	5,738	1,575	12,329	13,904	7,654	1993-99	1974-85
Westport Commerce Center	—		980	3,800	2,611	980	6,411	7,391	4,281	1994	1983/87
Benjamin Distribution Center I & II	—		843	3,963	1,490	883	5,413	6,296	3,481	1997	1996
Benjamin Distribution Center III	—		407	1,503	482	407	1,985	2,392	1,485	1999	1988
Palm River Center	—		1,190	4,625	2,493	1,190	7,118	8,308	4,330	1997/98	1990/97/98
Palm River North I & III	—		1,005	4,688	2,295	1,005	6,983	7,988	3,887	1998	2000
Palm River North II	—		634	4,418	381	634	4,799	5,433	3,254	1997/98	1999
Palm River South I	—		655	3,187	619	655	3,806	4,461	1,607	2000	2005
Palm River South II	—		655	—	4,360	655	4,360	5,015	1,951	2000	2006
Walden Distribution Center I	—		337	3,318	498	337	3,816	4,153	1,920	1997/98	2001
Walden Distribution Center II	—		465	3,738	981	465	4,719	5,184	2,517	1998	1998
Oak Creek Distribution Center I	—		1,109	6,126	1,364	1,109	7,490	8,599	3,504	1998	1998
Oak Creek Distribution Center II	—		647	3,603	1,104	647	4,707	5,354	2,193	2003	2001
Oak Creek Distribution Center III	—		439	—	3,178	556	3,061	3,617	1,020	2005	2007
Oak Creek Distribution Center IV	—		682	6,472	669	682	7,141	7,823	2,271	2005	2001
Oak Creek Distribution Center V	—		724	—	5,817	916	5,625	6,541	1,932	2005	2007
Oak Creek Distribution Center VI	—		642	—	5,039	812	4,869	5,681	1,318	2005	2008
Oak Creek Distribution Center VIII	—		843	—	6,188	1,051	5,980	7,031	15	2005	2015
Oak Creek Distribution Center IX	—		618	—	4,962	780	4,800	5,580	1,068	2005	2009
Oak Creek Distribution Center A	—		185	—	1,492	185	1,492	1,677	395	2005	2008
Oak Creek Distribution Center B	—		227	—	1,497	227	1,497	1,724	392	2005	2008
Airport Commerce Center	—		1,257	4,012	923	1,257	4,935	6,192	2,453	1998	1998
Westlake Distribution Center	—		1,333	6,998	2,150	1,333	9,148	10,481	4,851	1998	1998/99
Expressway Commerce Center I	—		915	5,346	1,044	915	6,390	7,305	2,997	2002	2004
Expressway Commerce Center II	—		1,013	3,247	385	1,013	3,632	4,645	1,743	2003	2001
Silo Bend Distribution Center	—		4,131	27,497	1,149	4,131	28,646	32,777	4,284	2011	1987/90

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
Tampa East Distribution Center	—	791	4,758	458	791	5,216	6,007	906	2011	1984
Tampa West Distribution Center	—	2,139	8,502	1,052	2,140	9,553	11,693	1,626	2011	1975/93/94
Madison Distribution Center	—	495	2,779	381	495	3,160	3,655	521	2012	2007
Orlando
Chancellor Center	—	291	1,711	252	291	1,963	2,254	1,122	1996/97	1996/97
Exchange Distribution Center I	—	603	2,414	2,135	603	4,549	5,152	3,059	1994	1975
Exchange Distribution Center II	—	300	945	298	300	1,243	1,543	675	2002	1976
Exchange Distribution Center III	—	320	997	403	320	1,400	1,720	811	2002	1980
Sunbelt Distribution Center	—	1,474	5,745	5,757	1,474	11,502	12,976	7,803	1989/97/98	1974/87/97/98
John Young Commerce Center I	—	497	2,444	931	497	3,375	3,872	1,804	1997/98	1997/98
John Young Commerce Center II	—	512	3,613	489	512	4,102	4,614	2,415	1998	1999
Altamonte Commerce Center I	—	1,498	2,661	2,585	1,498	5,246	6,744	3,560	1999	1980/82
Altamonte Commerce Center II	—	745	2,618	1,196	745	3,814	4,559	1,948	2003	1975
Sunport Center I	—	555	1,977	708	555	2,685	3,240	1,364	1999	1999
Sunport Center II	—	597	3,271	1,501	597	4,772	5,369	3,165	1999	2001
Sunport Center III	—	642	3,121	1,029	642	4,150	4,792	1,940	1999	2002
Sunport Center IV	—	642	2,917	1,474	642	4,391	5,033	1,953	1999	2004
Sunport Center V	—	750	2,509	2,183	750	4,692	5,442	2,478	1999	2005
Sunport Center VI	—	672	—	3,472	672	3,472	4,144	1,186	1999	2006
Southridge Commerce Park I	—	373	—	4,822	373	4,822	5,195	2,555	2003	2006
Southridge Commerce Park II	—	342	—	4,421	342	4,421	4,763	2,001	2003	2007
Southridge Commerce Park III	—	547	—	5,538	547	5,538	6,085	1,809	2003	2007
Southridge Commerce Park IV (h)	3,102	506	—	4,584	506	4,584	5,090	1,588	2003	2006
Southridge Commerce Park V (h)	2,980	382	—	4,508	382	4,508	4,890	1,828	2003	2006
Southridge Commerce Park VI	—	571	—	5,182	571	5,182	5,753	1,527	2003	2007
Southridge Commerce Park VII	—	520	—	6,727	520	6,727	7,247	1,932	2003	2008
Southridge Commerce Park VIII	—	531	—	6,343	531	6,343	6,874	1,588	2003	2008
Southridge Commerce Park IX	—	468	—	6,413	468	6,413	6,881	867	2003	2012
Southridge Commerce Park X	—	414	—	4,826	414	4,826	5,240	415	2003	2012
Southridge Commerce Park XI	—	513	—	5,870	513	5,870	6,383	653	2003	2012
Southridge Commerce Park XII	—	2,025	—	16,930	2,025	16,930	18,955	3,763	2005	2008

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
Horizon Commerce Park I	—	991	—	6,464	991	6,464	7,455	300	2008	2014
Horizon Commerce Park II	—	1,111	—	7,114	1,111	7,114	8,225	249	2008	2014
Horizon Commerce Park IV	—	1,097	—	8,131	1,097	8,131	9,228	—	2008	2015
Jacksonville
Deerwood Distribution Center	—	1,147	1,799	2,929	1,147	4,728	5,875	2,572	1989	1978
Phillips Distribution Center	—	1,375	2,961	4,317	1,375	7,278	8,653	4,929	1994	1984/95
Lake Pointe Business Park	—	3,442	6,450	7,607	3,442	14,057	17,499	9,915	1993	1986/87
Ellis Distribution Center	—	540	7,513	1,149	540	8,662	9,202	4,266	1997	1977
Westside Distribution Center	—	2,011	15,374	7,139	2,011	22,513	24,524	10,675	1997/2008	1984/85
Beach Commerce Center	—	476	1,899	634	476	2,533	3,009	1,270	2000	2000
Interstate Distribution Center	—	1,879	5,700	1,682	1,879	7,382	9,261	3,436	2005	1990
Fort Lauderdale/Palm Beach area
Linpro Commerce Center	—	613	2,243	1,775	616	4,015	4,631	3,023	1996	1986
Cypress Creek Business Park	—	—	2,465	1,853	—	4,318	4,318	2,710	1997	1986
Lockhart Distribution Center	—	—	3,489	2,828	—	6,317	6,317	3,795	1997	1986
Interstate Commerce Center	—	485	2,652	786	485	3,438	3,923	2,137	1998	1988
Executive Airport Distribution Center (k)	7,990	1,991	4,857	5,108	1,991	9,965	11,956	4,361	2001	2004/06
Sample 95 Business Park	—	2,202	8,785	3,052	2,202	11,837	14,039	7,242	1996/98	1990/99
Blue Heron Distribution Center	—	975	3,626	1,850	975	5,476	6,451	3,245	1999	1986
Blue Heron Distribution Center II	735	1,385	4,222	809	1,385	5,031	6,416	2,242	2004	1988
Blue Heron Distribution Center III	—	450	—	2,664	450	2,664	3,114	772	2004	2009
Fort Myers
SunCoast Commerce Center I	—	911	—	4,768	928	4,751	5,679	1,471	2005	2008
SunCoast Commerce Center II	—	911	—	4,952	928	4,935	5,863	1,705	2005	2007
SunCoast Commerce Center III	—	1,720	—	6,556	1,763	6,513	8,276	1,746	2006	2008
CALIFORNIA
San Francisco area
Wiegman Distribution Center I (i)	9,409	2,197	8,788	1,948	2,308	10,625	12,933	5,548	1996	1986/87
Wiegman Distribution Center II	—	2,579	4,316	110	2,579	4,426	7,005	434	2012	1998
Huntwood Distribution Center (i)	16,158	3,842	15,368	2,987	3,842	18,355	22,197	9,591	1996	1988

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition		Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements			Land	Buildings and Improvements	Total
San Clemente Distribution Center	—	893	2,004	852		893	2,856	3,749	1,622	1997	1978
Yosemite Distribution Center	—	259	7,058	1,329		259	8,387	8,646	4,213	1999	1974/87
Los Angeles area
Kingsview Industrial Center (e)	2,605	643	2,573	615		643	3,188	3,831	1,748	1996	1980
Dominguez Distribution Center (e)	7,615	2,006	8,025	1,170		2,006	9,195	11,201	5,128	1996	1977
Main Street Distribution Center	—	1,606	4,103	787		1,606	4,890	6,496	2,519	1999	1999
Walnut Business Center (e)	6,604	2,885	5,274	1,555		2,885	6,829	9,714	3,512	1996	1966/90
Washington Distribution Center (e)	4,891	1,636	4,900	658		1,636	5,558	7,194	2,838	1997	1996/97
Chino Distribution Center (f)	8,774	2,544	10,175	1,623		2,544	11,798	14,342	6,987	1998	1980
Ramona Distribution Center	2,757	3,761	5,751	3		3,761	5,754	9,515	171	2014	1984
Industry Distribution Center I (e)	18,306	10,230	12,373	4,323		10,230	16,696	26,926	7,547	1998	1959
Industry Distribution Center III (e)	1,941	—	3,012	(157	)	—	2,855	2,855	2,855	2007	1992
Chestnut Business Center	—	1,674	3,465	220		1,674	3,685	5,359	1,723	1998	1999
Los Angeles Corporate Center	—	1,363	5,453	3,056		1,363	8,509	9,872	5,176	1996	1986
Santa Barbara
University Business Center	—	5,517	22,067	5,766		5,519	27,831	33,350	15,216	1996	1987/88
Castilian Research Center	—	2,719	1,410	4,846		2,719	6,256	8,975	1,418	2005	2007
Fresno
Shaw Commerce Center (e)	12,727	2,465	11,627	4,627		2,465	16,254	18,719	9,689	1998	1978/81/87
San Diego
Eastlake Distribution Center	—	3,046	6,888	1,751		3,046	8,639	11,685	4,854	1997	1989
Ocean View Corporate Center (k)	9,603	6,577	7,105	686		6,577	7,791	14,368	2,143	2010	2005
TEXAS
Dallas
Interstate Distribution Center  I & II (g)	6,114	1,746	4,941	3,189		1,746	8,130	9,876	5,562	1988	1978
Interstate Distribution Center III (g)	2,488	519	2,008	1,491		519	3,499	4,018	1,650	2000	1979
Interstate Distribution Center IV	—	416	2,481	456		416	2,937	3,353	1,337	2004	2002
Interstate Distribution Center V, VI & VII (h)	4,646	1,824	4,106	1,694		1,824	5,800	7,624	2,225	2009	1979/80/81
Venture Warehouses (g)	4,785	1,452	3,762	2,515		1,452	6,277	7,729	4,628	1988	1979
Stemmons Circle (g)	1,899	363	2,014	690		363	2,704	3,067	1,699	1998	1977

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
North Stemmons II	—	150	583	506	150	1,089	1,239	528	2002	1971
North Stemmons III	—	380	2,066	48	380	2,114	2,494	571	2007	1974
Shady Trail Distribution Center	—	635	3,621	1,094	635	4,715	5,350	2,032	2003	1998
Valwood Distribution Center	—	4,361	34,405	1,788	4,361	36,193	40,554	4,819	2012	1986/87/97/98
Northfield Distribution Center	—	12,471	50,713	1,357	12,470	52,071	64,541	6,834	2013	1999-2001/03/04/08
Houston
Northwest Point Business Park	—	1,243	5,640	4,703	1,243	10,343	11,586	6,916	1994	1984/85
Lockwood Distribution Center	—	749	5,444	1,985	749	7,429	8,178	4,209	1997	1968/69
West Loop Distribution Center (g)	4,739	905	4,383	2,366	905	6,749	7,654	4,149	1997/2000	1980
World Houston Int'l Business Ctr 1 & 2 (f)	5,143	660	5,893	1,854	660	7,747	8,407	4,212	1998	1996
World Houston Int'l Business Ctr 3, 4 & 5 (g)	5,343	1,025	6,413	1,193	1,025	7,606	8,631	4,127	1998	1998
World Houston Int'l Business Ctr 6 (g)	2,079	425	2,423	510	425	2,933	3,358	1,663	1998	1998
World Houston Int'l Business Ctr 7 & 8 (g)	5,840	680	4,584	4,170	680	8,754	9,434	4,940	1998	1998
World Houston Int'l Business Ctr 9 (g)	4,265	800	4,355	1,734	800	6,089	6,889	2,544	1998	1998
World Houston Int'l Business Ctr 10	—	933	4,779	349	933	5,128	6,061	2,209	2001	1999
World Houston Int'l Business Ctr 11	—	638	3,764	1,195	638	4,959	5,597	2,515	1999	1999
World Houston Int'l Business Ctr 12	—	340	2,419	383	340	2,802	3,142	1,477	2000	2002
World Houston Int'l Business Ctr 13	—	282	2,569	374	282	2,943	3,225	1,784	2000	2002
World Houston Int'l Business Ctr 14	—	722	2,629	535	722	3,164	3,886	1,600	2000	2003
World Houston Int'l Business Ctr 15	—	731	—	6,124	731	6,124	6,855	2,904	2000	2007
World Houston Int'l Business Ctr 16 (j)	3,373	519	4,248	1,144	519	5,392	5,911	2,791	2000	2005
World Houston Int'l Business Ctr 17	—	373	1,945	799	373	2,744	3,117	1,177	2000	2004
World Houston Int'l Business Ctr 18	—	323	1,512	251	323	1,763	2,086	764	2005	1995
World Houston Int'l Business Ctr 19	—	373	2,256	1,126	373	3,382	3,755	1,785	2000	2004
World Houston Int'l Business Ctr 20	—	1,008	1,948	1,307	1,008	3,255	4,263	1,758	2000	2004
World Houston Int'l Business Ctr 21 (f)	2,410	436	—	3,504	436	3,504	3,940	1,233	2000/03	2006
World Houston Int'l Business Ctr 22	—	436	—	4,537	436	4,537	4,973	1,748	2000	2007
World Houston Int'l Business Ctr 23 (f)	4,927	910	—	7,145	910	7,145	8,055	2,479	2000	2007
World Houston Int'l Business Ctr 24	—	837	—	5,516	837	5,516	6,353	2,066	2005	2008

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
World Houston Int'l Business Ctr 25	—	508	—	3,762	508	3,762	4,270	1,203	2005	2008
World Houston Int'l Business Ctr 26 (k)	2,432	445	—	3,194	445	3,194	3,639	978	2005	2008
World Houston Int'l Business Ctr 27	—	837	—	5,004	837	5,004	5,841	1,378	2005	2008
World Houston Int'l Business Ctr 28 (k)	3,176	550	—	4,202	550	4,202	4,752	1,134	2005	2009
World Houston Int'l Business Ctr 29 (k)	3,288	782	—	4,138	974	3,946	4,920	1,042	2007	2009
World Houston Int'l Business Ctr 30 (k)	4,512	981	—	5,771	1,222	5,530	6,752	1,754	2007	2009
World Houston Int'l Business Ctr 31A	—	684	—	3,912	684	3,912	4,596	1,078	2008	2011
World Houston Int'l Business Ctr 31B	—	546	—	3,537	546	3,537	4,083	560	2008	2012
World Houston Int'l Business Ctr 32 (h)	4,195	1,225	—	5,660	1,526	5,359	6,885	847	2007	2012
World Houston Int'l Business Ctr 33	—	1,166	—	7,859	1,166	7,859	9,025	829	2011	2013
World Houston Int'l Business Ctr 34	—	439	—	3,373	439	3,373	3,812	370	2005	2012
World Houston Int'l Business Ctr 35	—	340	—	2,475	340	2,475	2,815	227	2005	2012
World Houston Int'l Business Ctr 36	—	685	—	4,878	685	4,878	5,563	486	2011	2013
World Houston Int'l Business Ctr 37	—	759	—	6,370	759	6,370	7,129	497	2011	2013
World Houston Int'l Business Ctr 38	—	1,053	—	7,312	1,053	7,312	8,365	703	2011	2013
World Houston Int'l Business Ctr 39	—	620	—	5,199	620	5,199	5,819	154	2011	2014
World Houston Int'l Business Ctr 40	—	1,072	—	9,340	1,072	9,340	10,412	396	2011	2014
World Houston Int'l Business Ctr 41	—	649	—	5,954	649	5,954	6,603	105	2011	2014
World Houston Int'l Business Ctr 42	—	571	—	4,812	571	4,812	5,383	77	2011	2015
America Plaza (g)	3,910	662	4,660	993	662	5,653	6,315	3,129	1998	1996
Central Green Distribution Center (g)	2,930	566	4,031	135	566	4,166	4,732	2,179	1999	1998
Glenmont Business Park (g)	6,141	936	6,161	2,823	936	8,984	9,920	4,852	1998	1999/2000
Techway Southwest I	—	729	3,765	2,281	729	6,046	6,775	3,257	2000	2001
Techway Southwest II	—	550	3,689	1,283	550	4,972	5,522	2,332	2000	2004
Techway Southwest III	—	597	—	5,578	751	5,424	6,175	2,426	1999	2006
Techway Southwest IV (k)	4,187	535	—	5,730	674	5,591	6,265	1,765	1999	2008
Beltway Crossing Business Park I	—	458	5,712	2,450	458	8,162	8,620	3,678	2002	2001
Beltway Crossing Business Park II	—	415	—	2,892	415	2,892	3,307	1,092	2005	2007
Beltway Crossing Business Park III	—	460	—	3,094	460	3,094	3,554	1,216	2005	2008
Beltway Crossing Business Park IV	—	460	—	3,035	460	3,035	3,495	1,194	2005	2008
Beltway Crossing Business Park V (k)	3,711	701	—	4,852	701	4,852	5,553	1,707	2005	2008

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
Beltway Crossing Business Park VI (h)	4,043	618	—	6,017	618	6,017	6,635	1,522	2005	2008
Beltway Crossing Business Park VII (h)	4,052	765	—	5,884	765	5,884	6,649	1,958	2005	2009
Beltway Crossing Business Park VIII	—	721	—	4,576	721	4,576	5,297	939	2005	2011
Beltway Crossing Business Park IX	—	418	—	2,113	418	2,113	2,531	282	2007	2012
Beltway Crossing Business Park X	—	733	—	3,871	733	3,871	4,604	477	2007	2012
Beltway Crossing Business Park XI	—	690	—	4,101	690	4,101	4,791	366	2007	2013
West Road Business Park I	—	621	—	4,324	621	4,324	4,945	159	2012	2014
West Road Business Park II	—	981	—	5,285	981	5,285	6,266	235	2012	2014
Ten West Crossing 1	—	566	—	2,997	566	2,997	3,563	314	2012	2013
Ten West Crossing 2	—	829	—	4,385	833	4,381	5,214	453	2012	2013
Ten West Crossing 3	—	609	—	4,357	613	4,353	4,966	446	2012	2013
Ten West Crossing 4	—	694	—	4,506	699	4,501	5,200	365	2012	2014
Ten West Crossing 5	—	933	—	5,866	940	5,859	6,799	322	2012	2014
Ten West Crossing 6	—	640	—	4,113	644	4,109	4,753	96	2012	2014
El Paso
Butterfield Trail	—	—	20,725	8,420	—	29,145	29,145	16,841	1997/2000	1987/95
Rojas Commerce Park (g)	4,690	900	3,659	3,016	900	6,675	7,575	4,707	1999	1986
Americas Ten Business Center I	—	526	2,778	1,181	526	3,959	4,485	2,125	2001	2003
San Antonio
Alamo Downs Distribution Center (j)	5,077	1,342	6,338	1,216	1,342	7,554	8,896	3,948	2004	1986/2002
Arion Business Park 1-13, 15 (j)	23,508	4,143	31,432	5,616	4,143	37,048	41,191	15,762	2005	1988-2000/06
Arion Business Park 14 (j)	2,180	423	—	3,397	423	3,397	3,820	1,218	2005	2006
Arion Business Park 16 (f)	2,424	427	—	3,535	427	3,535	3,962	1,073	2005	2007
Arion Business Park 17 (j)	2,622	616	—	3,978	616	3,978	4,594	1,939	2005	2007
Arion Business Park 18 (h)	1,689	418	—	2,354	418	2,354	2,772	947	2005	2008
Wetmore Business Center 1-4	—	1,494	10,804	3,097	1,494	13,901	15,395	6,337	2005	1998/99
Wetmore Business Center 5 (k)	2,573	412	—	3,438	412	3,438	3,850	1,407	2006	2008
Wetmore Business Center 6 (k)	2,726	505	—	3,574	505	3,574	4,079	1,243	2006	2008
Wetmore Business Center 7 (k)	2,930	546	—	3,838	546	3,838	4,384	818	2006	2008
Wetmore Business Center 8 (k)	5,812	1,056	—	7,640	1,056	7,640	8,696	2,049	2006	2008
Fairgrounds Business Park	—	1,644	8,209	2,102	1,644	10,311	11,955	4,420	2007	1985/86

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
Rittiman Distribution Center	—	1,083	6,649	289	1,083	6,938	8,021	957	2011	2000
Thousand Oaks Distribution Center 1	—	607	—	4,286	607	4,286	4,893	674	2008	2012
Thousand Oaks Distribution Center 2	—	794	—	4,719	794	4,719	5,513	646	2008	2012
Thousand Oaks Distribution Center 3	—	772	—	4,457	772	4,457	5,229	414	2008	2013
Thousand Oaks Distribution Center 4	—	753	—	3,953	753	3,953	4,706	24	2013	2015
Austin
Colorado Crossing Distribution Center	—	4,602	19,757	61	4,602	19,818	24,420	1,698	2014	2009
Southpark Corporate Center	—	2,670	14,756	—	2,670	14,756	17,426	268	2015	1995
Springdale Business Center	—	2,824	8,398	—	2,824	8,398	11,222	111	2015	2000
ARIZONA
Phoenix area
Broadway Industrial Park I	—	837	3,349	932	837	4,281	5,118	2,523	1996	1971
Broadway Industrial Park II	—	455	482	180	455	662	1,117	408	1999	1971
Broadway Industrial Park III	—	775	1,742	531	775	2,273	3,048	1,268	2000	1983
Broadway Industrial Park IV	—	380	1,652	783	380	2,435	2,815	1,406	2000	1986
Broadway Industrial Park V	—	353	1,090	120	353	1,210	1,563	638	2002	1980
Broadway Industrial Park VI (f)	1,904	599	1,855	658	599	2,513	3,112	1,387	2002	1979
Broadway Industrial Park VII	—	450	650	232	450	882	1,332	136	2011	1999
Kyrene Distribution Center	—	1,490	4,453	1,514	1,490	5,967	7,457	3,490	1999	1981/2001
Southpark Distribution Center	—	918	2,738	644	918	3,382	4,300	1,472	2001	2000
Santan 10 Distribution Center I (j)	2,176	846	2,647	319	846	2,966	3,812	1,306	2001	2005
Santan 10 Distribution Center II (f)	3,797	1,088	—	5,119	1,088	5,119	6,207	1,976	2004	2007
Chandler Freeways	—	1,525	—	7,381	1,525	7,381	8,906	516	2012	2013
Kyrene 202 Business Park I	—	653	—	5,777	653	5,777	6,430	145	2011	2014
Kyrene 202 Business Park II	—	387	—	3,414	387	3,414	3,801	110	2011	2014
Metro Business Park	—	1,927	7,708	6,747	1,927	14,455	16,382	9,101	1996	1977/79
35th Avenue Distribution Center (original building currently undergoing redevelopment)	—	418	2,381	206	418	2,587	3,005	1,226	1997	1967
51st Avenue Distribution Center	—	300	2,029	977	300	3,006	3,306	1,765	1998	1987
East University Distribution Center I & II (f)	4,365	1,120	4,482	1,533	1,120	6,015	7,135	3,525	1998	1987/89

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
East University Distribution Center III	—	444	698	208	444	906	1,350	184	2010	1981
55th Avenue Distribution Center (f)	3,394	912	3,717	919	917	4,631	5,548	2,848	1998	1987
Interstate Commons Distribution Center I	—	798	3,632	1,708	798	5,340	6,138	2,914	1999	1988
Interstate Commons Distribution Center II	—	320	2,448	429	320	2,877	3,197	1,372	1999	2000
Interstate Commons Distribution Center III	—	242	—	2,996	242	2,996	3,238	861	2000	2008
Airport Commons Distribution Center	—	1,000	1,510	1,336	1,000	2,846	3,846	1,479	2003	1971
40th Avenue Distribution Center (k)	4,519	703	—	6,059	703	6,059	6,762	1,670	2004	2008
Sky Harbor Business Park	—	5,839	—	21,324	5,839	21,324	27,163	5,785	2006	2008
Sky Harbor Business Park 6	—	807	—	2,177	807	2,177	2,984	20	2014	2015
Tucson
Country Club Commerce Center I	—	506	3,564	2,173	693	5,550	6,243	2,338	1997/2003	1994/2003
Country Club Commerce Center II	—	442	3,381	37	442	3,418	3,860	1,056	2007	2000
Country Club Commerce Center III & IV	—	1,407	—	11,794	1,575	11,626	13,201	3,432	2007	2009
Airport Distribution Center	—	1,103	4,672	1,549	1,103	6,221	7,324	3,576	1998	1995
Southpointe Distribution Center	—	—	3,982	2,950	—	6,932	6,932	3,997	1999	1989
Benan Distribution Center	—	707	1,842	635	707	2,477	3,184	1,287	2005	2001
NORTH CAROLINA
Charlotte area
NorthPark Business Park (f)	13,833	2,758	15,932	3,924	2,758	19,856	22,614	7,910	2006	1987-89
Lindbergh Business Park	—	470	3,401	444	470	3,845	4,315	1,371	2007	2001/03
Commerce Park Center I	—	765	4,303	791	765	5,094	5,859	1,687	2007	1983
Commerce Park Center II (h)	1,362	335	1,603	297	335	1,900	2,235	475	2010	1987
Commerce Park Center III (h)	2,225	558	2,225	868	558	3,093	3,651	726	2010	1981
Nations Ford Business Park	—	3,924	16,171	3,128	3,924	19,299	23,223	7,679	2007	1989/94
Airport Commerce Center	—	1,454	10,136	1,620	1,454	11,756	13,210	3,374	2008	2001/02
Interchange Park I	—	986	7,949	476	986	8,425	9,411	2,240	2008	1989
Interchange Park II	—	746	1,456	55	746	1,511	2,257	121	2013	2000
Ridge Creek Distribution Center I	—	1,284	13,163	780	1,284	13,943	15,227	3,341	2008	2006
Ridge Creek Distribution Center II (h)	10,142	3,033	11,497	2,116	3,033	13,613	16,646	1,688	2011	2003
Ridge Creek Distribution Center III	—	2,459	11,147	381	2,459	11,528	13,987	702	2014	2013

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
Lakeview Business Center (h)	4,332	1,392	5,068	650	1,392	5,718	7,110	978	2011	1996
Steele Creek Commerce Park I	—	993	—	4,314	1,010	4,297	5,307	372	2013	2014
Steele Creek Commerce Park II	—	941	—	4,457	957	4,441	5,398	246	2013	2014
Steele Creek Commerce Park III	—	1,464	—	6,396	1,469	6,391	7,860	295	2013	2014
Steele Creek Commerce Park IV	—	684	—	3,925	687	3,922	4,609	32	2013	2015
Waterford Distribution Center	—	654	3,392	501	654	3,893	4,547	928	2008	2000
LOUISIANA
New Orleans
Elmwood Business Park	—	2,861	6,337	4,264	2,861	10,601	13,462	7,125	1997	1979
Riverbend Business Park	—	2,557	17,623	6,210	2,557	23,833	26,390	12,750	1997	1984
COLORADO
Denver
Rampart Distribution Center I (j)	3,618	1,023	3,861	1,455	1,023	5,316	6,339	3,872	1988	1987
Rampart Distribution Center II (j)	2,494	230	2,977	1,164	230	4,141	4,371	2,610	1996/97	1996/97
Rampart Distribution Center III (j)	3,660	1,098	3,884	1,431	1,098	5,315	6,413	2,703	1997/98	1999
Rampart Distribution Center IV (j)	4,855	590	—	7,918	590	7,918	8,508	52	2012	2014
Concord Distribution Center (h)	3,816	1,051	4,773	439	1,051	5,212	6,263	1,760	2007	2000
Centennial Park (k)	3,853	750	3,319	1,697	750	5,016	5,766	1,579	2007	1990
NEVADA
Las Vegas
Arville Distribution Center	—	4,933	5,094	330	4,933	5,424	10,357	1,527	2009	1997
MISSISSIPPI
Jackson area
Interchange Business Park	—	343	5,007	3,080	343	8,087	8,430	4,926	1997	1981
Tower Automotive	—	—	9,958	1,228	17	11,169	11,186	4,333	2001	2002
Metro Airport Commerce Center I	—	303	1,479	1,029	303	2,508	2,811	1,439	2001	2003
TENNESSEE
Memphis
Memphis I	—	250	1,916	1,426	250	3,342	3,592	1,868	1998	1975
	351,401	298,884	965,253	784,870	301,435	1,747,572	2,049,007	657,292

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances	Initial Cost to the Company		Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
		Land	Buildings and Improvements		Land	Buildings and Improvements	Total
Industrial Development (d):
FLORIDA
Oak Creek Distribution Center land	—	1,226	—	2,345	1,447	2,124	3,571	—	2005	n/a
Madison Distribution Center II & III	—	624	—	6,793	624	6,793	7,417	61	2012	2015
Madison Distribution Center land	—	565	—	503	565	503	1,068	—	2012	n/a
Horizon Commerce Park III	—	991	—	5,124	991	5,124	6,115	—	2008/09	n/a
Horizon Commerce Park land	—	9,160	—	11,211	9,160	11,211	20,371	—	2008/09	n/a
SunCoast Commerce Center land	—	10,892	—	6,966	11,104	6,754	17,858	—	2006	n/a
TEXAS
North Stemmons land	—	537	—	276	537	276	813	—	2001	n/a
ParkView Commerce Center 1-3	—	2,663	—	14,593	2,663	14,593	17,256	—	2014	2015
ParkView Commerce Center land	—	400	—	104	405	99	504	—	2014	n/a
CreekView 121 land	—	5,874	—	499	5,874	499	6,373	—	2015	n/a
Valwood Distribution Center land	—	416	—	20	416	20	436	—	2012	n/a
World Houston Int'l Business Ctr land	—	4,617	—	3,200	5,351	2,466	7,817	—	2000	n/a
World Houston Int'l Business Ctr land - 2011 expansion	—	3,498	—	3,861	4,783	2,576	7,359	—	2011	n/a
World Houston Int'l Business Ctr land - 2015 expansion	—	6,040	—	246	6,040	246	6,286	—	2015	n/a
Ten West Crossing 7	—	584	—	3,488	588	3,484	4,072	—	2012	2015
Ten West Crossing land	—	1,127	—	797	1,135	789	1,924	—	2012	n/a
West Road Business Park III	—	597	—	4,185	597	4,185	4,782	—	2012	2015
West Road Business Park IV	—	621	—	4,064	621	4,064	4,685	5	2012	2015
West Road Business Park land	—	483	—	718	484	717	1,201	—	2012	n/a
Americas Ten Business Center II & III land	—	1,365	—	1,079	1,365	1,079	2,444	—	2001	n/a
Alamo Ridge Business Park I	—	623	—	6,729	623	6,729	7,352	96	2007	2015
Alamo Ridge Business Park II	—	402	—	3,737	402	3,737	4,139	—	2007	2015
Alamo Ridge Business Park III	—	907	—	1,473	907	1,473	2,380	—	2007	n/a
Alamo Ridge Business Park land	—	356	—	487	355	488	843	—	2007	n/a
Eisenhauer Point Business Park 1 & 2	—	1,881	—	4,879	1,881	4,879	6,760	—	2015	n/a
Eisenhauer Point Business Park land	—	2,513	—	324	2,519	318	2,837	—	2015	n/a
ARIZONA
Kyrene 202 Business Park VI	—	936	—	6,084	936	6,084	7,020	—	2011	2015

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2015 (In thousands, except footnotes)
Description	Encumbrances		Initial Cost to the Company			Costs Capitalized Subsequent to Acquisition	Gross Amount Carried at Close of Period			Accumulated Depreciation	Year Acquired	Year Constructed
					Land		Buildings and Improvements		Land				Buildings and Improvements	Total
Kyrene 202 Business Park land	—		1,244	—		878	1,244	878	2,122	—	2011	n/a
35th Avenue Distribution Center - redevelopment	—		—	—		1,171	—	1,171	1,171	—	1997	n/a
Ten Sky Harbor Business Center	—		1,568	—		2,084	1,569	2,083	3,652	—	2015	n/a
Falcon Field Business Center land	—		1,315	—		50	1,315	50	1,365	—	2015	n/a
Airport Distribution Center II land	—		300	—		117	300	117	417	—	2000	n/a
NORTH CAROLINA
Steele Creek Commerce Center VI	—		867	—		2,037	869	2,035	2,904	—	2013/14	n/a
Steele Creek Commerce Center land	—		1,804	—		999	1,821	982	2,803	—	2013/14/15	n/a
Airport Commerce Center III land	—		855	—		763	855	763	1,618	—	2008	n/a
MISSISSIPPI
Metro Airport Commerce Center II land	—		307	—		399	307	399	706	—	2001	n/a
	—		68,158	—		102,283	70,653	99,788	170,441	162
Total real estate owned (a)(b)	$	351,401	367,042	965,253		887,153	372,088	1,847,360	2,219,448	657,454
See accompanying Report of Independent Registered Public Accounting Firm on Financial Statement Schedules.

(a)  Changes in Real Estate Properties follow: 

	Years Ended December 31,
	2015			2014		2013
	(In thousands)
Balance at beginning of year	$	2,074,946		1,927,326		1,768,032
Purchases of real estate properties	28,648			47,477		65,387
Development of real estate properties	95,032			97,696		76,240
Improvements to real estate properties	25,778			19,862		21,438
Carrying amount of investments sold	(4,750		)	(17,049	)	(3,475	)
Write-off of improvements	(206		)	(366	)	(296	)
Balance at end of year (1)	$	2,219,448		2,074,946		1,927,326

(1) Includes 20% noncontrolling interests in Castilian Research Center of $1,795,000 at December 31, 2015 and $1,794,000 at December 31, 2014 and in University Business Center of $6,670,000 and $6,536,000, respectively.

Changes in the accumulated depreciation on real estate properties follow:

	Years Ended December 31,
	2015			2014		2013
	(In thousands)
Balance at beginning of year	$	600,526		550,113		496,247
Depreciation expense	59,882			57,303		54,284
Accumulated depreciation on assets sold	(2,748		)	(6,525	)	(126	)
Other	(206		)	(365	)	(292	)
Balance at end of year	$	657,454		600,526		550,113

(b) The estimated aggregate cost of real estate properties at December 31, 2015 for federal income tax purposes was approximately $2,188,766,000 before estimated accumulated tax depreciation of $425,700,000.  The federal income tax return for the year ended December 31, 2015, has not been filed and accordingly, this estimate is based on preliminary data.

(c) The Company computes depreciation using the straight-line method over the estimated useful lives of the buildings (generally 40 years) and improvements (generally 3 to 15 years).   

(d) The Company transfers development properties to real estate properties the earlier of 80% occupancy or one year after completion of the shell construction.

(e) EastGroup has a $54,689,000 limited recourse first mortgage loan with an insurance company secured by Dominguez, Industry I & III, Kingsview, Shaw, Walnut and Washington.  The loan has a recourse liability of $5 million which will be released based on the secured properties generating certain base rent amounts.

(f) EastGroup has a $50,971,000 non-recourse first mortgage loan with an insurance company secured by Arion 16, Broadway VI, Chino, East University I & II, Northpark, Santan 10 II, 55^th Avenue and World Houston 1 & 2 and 21 & 23.

(g) EastGroup has a $55,223,000 non-recourse first mortgage loan with an insurance company secured by America Plaza, Central Green, Glenmont, Interstate I-III, Rojas, Stemmons Circle, Venture, West Loop and World Houston 3-9.

(h) EastGroup has a $46,584,000 non-recourse first mortgage loan with an insurance company secured by Arion 18, Beltway Crossing VI & VII, Commerce Park II & III, Concord, Interstate V-VII, Lakeview, Ridge Creek II, Southridge IV & V and World Houston 32.

(i) EastGroup has a $25,567,000 non-recourse first mortgage loan with an insurance company secured by Huntwood and Wiegman I.

(j) EastGroup has a $53,563,000 non-recourse first mortgage loan with an insurance company secured by Alamo Downs, Arion 1-15 & 17, Rampart I-IV, Santan 10 I and World Houston 16.

(k) EastGroup has a $61,312,000 non-recourse first mortgage loan with an insurance company secured by 40^th Avenue, Beltway Crossing V, Centennial Park, Executive Airport, Ocean View, Techway Southwest IV, Wetmore 5-8 and World Houston 26, 28, 29 & 30.