SCHEDULE III

12 Months Ended

Dec. 31, 2016

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

SCHEDULE III

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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	4,475	843	8,042	8,885	5,866	1993	1981/86/97
Jetport Commerce Park	—		1,575	6,591	5,885	1,575	12,476	14,051	8,131	1993-99	1974-85
Westport Commerce Center	—		980	3,800	2,742	980	6,542	7,522	4,459	1994	1983/87
Benjamin Distribution Center I & II	—		843	3,963	1,502	883	5,425	6,308	3,639	1997	1996
Benjamin Distribution Center III	—		407	1,503	655	407	2,158	2,565	1,520	1999	1988
Palm River Center	—		1,190	4,625	2,507	1,190	7,132	8,322	4,554	1997/98	1990/97/98
Palm River North I & III	—		1,005	4,688	2,302	1,005	6,990	7,995	4,073	1998	2000
Palm River North II	—		634	4,418	383	634	4,801	5,435	3,341	1997/98	1999
Palm River South I	—		655	3,187	649	655	3,836	4,491	1,716	2000	2005
Palm River South II	—		655	—	4,411	655	4,411	5,066	2,049	2000	2006
Walden Distribution Center I	—		337	3,318	520	337	3,838	4,175	2,013	1997/98	2001
Walden Distribution Center II	—		465	3,738	993	465	4,731	5,196	2,653	1998	1998
Oak Creek Distribution Center I	—		1,109	6,126	1,366	1,109	7,492	8,601	3,771	1998	1998
Oak Creek Distribution Center II	—		647	3,603	1,131	647	4,734	5,381	2,381	2003	2001
Oak Creek Distribution Center III	—		439	—	3,202	556	3,085	3,641	1,097	2005	2007
Oak Creek Distribution Center IV	—		682	6,472	779	682	7,251	7,933	2,501	2005	2001
Oak Creek Distribution Center V	—		724	—	5,856	916	5,664	6,580	2,096	2005	2007
Oak Creek Distribution Center VI	—		642	—	5,201	812	5,031	5,843	1,478	2005	2008
Oak Creek Distribution Center VIII	—		843	—	6,227	1,051	6,019	7,070	219	2005	2015
Oak Creek Distribution Center IX	—		618	—	4,963	781	4,800	5,581	1,210	2005	2009
Oak Creek Distribution Center A	—		185	—	1,492	185	1,492	1,677	436	2005	2008
Oak Creek Distribution Center B	—		227	—	1,497	227	1,497	1,724	451	2005	2008
Airport Commerce Center	—		1,257	4,012	939	1,257	4,951	6,208	2,596	1998	1998
Westlake Distribution Center	—		1,333	6,998	2,308	1,333	9,306	10,639	5,136	1998	1998/99
Expressway Commerce Center I	—		915	5,346	1,221	915	6,567	7,482	3,175	2002	2004
Expressway Commerce Center II	—		1,013	3,247	465	1,013	3,712	4,725	1,843	2003	2001
Silo Bend Distribution Center	—		4,131	27,497	1,265	4,132	28,761	32,893	5,186	2011	1987/90

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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	493	791	5,251	6,042	1,077	2011	1984
Tampa West Distribution Center	—	2,139	8,502	1,147	2,140	9,648	11,788	1,934	2011	1975/93/94
Madison Distribution Center	—	495	2,779	428	495	3,207	3,702	660	2012	2007
Madison Distribution Center II & III	—	624	—	7,004	624	7,004	7,628	326	2012	2015
Orlando
Chancellor Center	—	291	1,711	478	291	2,189	2,480	1,198	1996/97	1996/97
Exchange Distribution Center I	—	603	2,414	2,285	603	4,699	5,302	3,193	1994	1975
Exchange Distribution Center II	—	300	945	445	300	1,390	1,690	743	2002	1976
Exchange Distribution Center III	—	320	997	403	320	1,400	1,720	860	2002	1980
Sunbelt Distribution Center	—	1,472	5,745	5,799	1,472	11,544	13,016	8,231	1989/97/98	1974/87/97/98
John Young Commerce Center I	—	497	2,444	1,200	497	3,644	4,141	1,927	1997/98	1997/98
John Young Commerce Center II	—	512	3,613	504	512	4,117	4,629	2,529	1998	1999
Altamonte Commerce Center I	—	1,498	2,661	2,649	1,498	5,310	6,808	3,711	1999	1980/82
Altamonte Commerce Center II	—	745	2,618	1,216	745	3,834	4,579	2,096	2003	1975
Sunport Center I	—	555	1,977	738	555	2,715	3,270	1,434	1999	1999
Sunport Center II	—	597	3,271	1,515	597	4,786	5,383	3,260	1999	2001
Sunport Center III	—	642	3,121	1,029	642	4,150	4,792	2,075	1999	2002
Sunport Center IV	—	642	2,917	1,482	642	4,399	5,041	2,137	1999	2004
Sunport Center V	—	750	2,509	2,390	750	4,899	5,649	2,591	1999	2005
Sunport Center VI	—	672	—	3,478	672	3,478	4,150	1,279	1999	2006
Southridge Commerce Park I	—	373	—	4,833	373	4,833	5,206	2,683	2003	2006
Southridge Commerce Park II	—	342	—	4,425	342	4,425	4,767	2,101	2003	2007
Southridge Commerce Park III	—	547	—	5,538	547	5,538	6,085	1,967	2003	2007
Southridge Commerce Park IV (h)	2,956	506	—	4,638	506	4,638	5,144	1,724	2003	2006
Southridge Commerce Park V (h)	2,810	382	—	4,508	382	4,508	4,890	1,946	2003	2006
Southridge Commerce Park VI	—	571	—	5,272	571	5,272	5,843	1,708	2003	2007
Southridge Commerce Park VII	—	520	—	6,729	520	6,729	7,249	2,150	2003	2008
Southridge Commerce Park VIII	—	531	—	6,343	531	6,343	6,874	1,751	2003	2008
Southridge Commerce Park IX	—	468	—	6,455	468	6,455	6,923	1,140	2003	2012
Southridge Commerce Park X	—	414	—	4,867	414	4,867	5,281	603	2003	2012
Southridge Commerce Park XI	—	513	—	5,927	513	5,927	6,440	886	2003	2012

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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
Southridge Commerce Park XII	—	2,025	—	16,930	2,025	16,930	18,955	4,258	2005	2008
Horizon Commerce Park I	—	991	—	6,501	991	6,501	7,492	597	2008	2014
Horizon Commerce Park II	—	1,111	—	7,097	1,111	7,097	8,208	519	2008	2014
Horizon Commerce Park III	—	991	—	6,417	991	6,417	7,408	177	2008	2016
Horizon Commerce Park IV	—	1,097	—	8,523	1,097	8,523	9,620	328	2008	2015
Jacksonville
Deerwood Distribution Center	—	1,147	1,799	3,400	1,147	5,199	6,346	2,877	1989	1978
Phillips Distribution Center	—	1,375	2,961	4,392	1,375	7,353	8,728	5,155	1994	1984/95
Lake Pointe Business Park	—	3,442	6,450	8,110	3,442	14,560	18,002	10,528	1993	1986/87
Ellis Distribution Center	—	540	7,513	1,191	540	8,704	9,244	4,509	1997	1977
Westside Distribution Center	—	2,011	15,374	7,446	2,011	22,820	24,831	11,389	1997/2008	1984/85
Beach Commerce Center	—	476	1,899	644	476	2,543	3,019	1,327	2000	2000
Interstate Distribution Center	—	1,879	5,700	1,776	1,879	7,476	9,355	3,724	2005	1990
Flagler Center	—	7,317	14,912	—	7,317	14,912	22,229	201	2016	1997 & 2005
Ft. Lauderdale/Palm Beach area
Linpro Commerce Center	—	613	2,243	1,941	616	4,181	4,797	3,182	1996	1986
Cypress Creek Business Park	—	—	2,465	1,878	—	4,343	4,343	2,867	1997	1986
Lockhart Distribution Center	—	—	3,489	2,905	—	6,394	6,394	4,036	1997	1986
Interstate Commerce Center	—	485	2,652	817	485	3,469	3,954	2,228	1998	1988
Executive Airport Distribution Center (i)	7,309	1,991	4,857	5,138	1,991	9,995	11,986	4,697	2001	2004/06
Sample 95 Business Park	—	2,202	8,785	3,452	2,202	12,237	14,439	7,572	1996/98	1990/99
Blue Heron Distribution Center	—	975	3,626	1,939	975	5,565	6,540	3,412	1999	1986
Blue Heron Distribution Center II	576	1,385	4,222	960	1,385	5,182	6,567	2,359	2004	1988
Blue Heron Distribution Center III	—	450	—	2,671	450	2,671	3,121	849	2004	2009
Ft. Myers
SunCoast Commerce Center I	—	911	—	4,768	928	4,751	5,679	1,594	2005	2008
SunCoast Commerce Center II	—	911	—	4,952	928	4,935	5,863	1,863	2005	2007
SunCoast Commerce Center III	—	1,720	—	6,584	1,763	6,541	8,304	1,978	2006	2008
CALIFORNIA
San Francisco area
Wiegman Distribution Center I	—	2,197	8,788	2,094	2,308	10,771	13,079	5,868	1996	1986/87

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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
Wiegman Distribution Center II	—	2,579	4,316	152		2,579	4,468	7,047	564	2012	1998
Huntwood Distribution Center	—	3,842	15,368	3,054		3,842	18,422	22,264	10,214	1996	1988
San Clemente Distribution Center	—	893	2,004	932		893	2,936	3,829	1,748	1997	1978
Yosemite Distribution Center	—	259	7,058	1,344		259	8,402	8,661	4,441	1999	1974/87
Los Angeles area
Kingsview Industrial Center (e)	2,454	643	2,573	628		643	3,201	3,844	1,833	1996	1980
Dominguez Distribution Center (e)	7,152	2,006	8,025	1,170		2,006	9,195	11,201	5,327	1996	1977
Main Street Distribution Center	—	1,606	4,103	836		1,606	4,939	6,545	2,636	1999	1999
Walnut Business Center (e)	6,667	2,885	5,274	2,282		2,885	7,556	10,441	3,771	1996	1966/90
Washington Distribution Center (e)	4,593	1,636	4,900	658		1,636	5,558	7,194	2,987	1997	1996/97
Chino Distribution Center (f)	8,113	2,544	10,175	1,623		2,544	11,798	14,342	7,458	1998	1980
Ramona Distribution Center	2,666	3,761	5,751	3		3,761	5,754	9,515	330	2014	1984
Industry Distribution Center I (e)	17,260	10,230	12,373	4,427		10,230	16,800	27,030	8,178	1998	1959
Industry Distribution Center III (e)	1,823	—	3,012	(157	)	—	2,855	2,855	2,855	2007	1992
Chestnut Business Center	—	1,674	3,465	250		1,674	3,715	5,389	1,814	1998	1999
Los Angeles Corporate Center	—	1,363	5,453	3,056		1,363	8,509	9,872	5,521	1996	1986
Santa Barbara
University Business Center	—	5,517	22,067	6,679		5,519	28,744	34,263	16,120	1996	1987/88
Fresno
Shaw Commerce Center (e)	12,282	2,465	11,627	5,144		2,465	16,771	19,236	10,095	1998	1978/81/87
San Diego
Eastlake Distribution Center	—	3,046	6,888	1,767		3,046	8,655	11,701	5,099	1997	1989
Ocean View Corporate Center (i)	8,819	6,577	7,105	779		6,577	7,884	14,461	2,393	2010	2005
TEXAS
Dallas
Interstate Distribution Center  I & II (g)	5,544	1,746	4,941	3,518		1,746	8,459	10,205	5,869	1988	1978
Interstate Distribution Center III (g)	2,226	519	2,008	1,570		519	3,578	4,097	1,862	2000	1979
Interstate Distribution Center IV	—	416	2,481	518		416	2,999	3,415	1,451	2004	2002
Interstate Distribution Center V, VI & VII (h)	4,627	1,824	4,106	2,121		1,824	6,227	8,051	2,581	2009	1979/80/81
Venture Warehouses (g)	4,235	1,452	3,762	2,583		1,452	6,345	7,797	4,909	1988	1979

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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
Stemmons Circle (g)	1,667	363	2,014	692	363	2,706	3,069	1,774	1998	1977
ParkView Commerce Center 1-3	—	2,663	—	18,044	2,663	18,044	20,707	306	2014	2015
Shady Trail Distribution Center	—	635	3,621	1,200	635	4,821	5,456	2,228	2003	1998
Valwood Distribution Center	—	4,361	34,405	2,817	4,361	37,222	41,583	6,396	2012	1986/87/97/98
Northfield Distribution Center	—	12,470	50,713	2,101	12,470	52,814	65,284	9,032	2013	1999-2001/03/04/08
Houston
World Houston Int'l Business Ctr 1 & 2 (f)	4,831	660	5,893	1,986	660	7,879	8,539	4,460	1998	1996
World Houston Int'l Business Ctr 3, 4 & 5 (g)	4,742	1,025	6,413	1,293	1,025	7,706	8,731	4,389	1998	1998
World Houston Int'l Business Ctr 6 (g)	1,886	425	2,423	624	425	3,047	3,472	1,732	1998	1998
World Houston Int'l Business Ctr 7 & 8 (g)	5,400	680	4,584	4,677	680	9,261	9,941	5,206	1998	1998
World Houston Int'l Business Ctr 9 (g)	3,780	800	4,355	1,805	800	6,160	6,960	2,748	1998	1998
World Houston Int'l Business Ctr 10	—	933	4,779	350	933	5,129	6,062	2,349	2001	1999
World Houston Int'l Business Ctr 11	—	638	3,764	1,282	638	5,046	5,684	2,654	1999	1999
World Houston Int'l Business Ctr 12	—	340	2,419	383	340	2,802	3,142	1,543	2000	2002
World Houston Int'l Business Ctr 13	—	282	2,569	414	282	2,983	3,265	1,851	2000	2002
World Houston Int'l Business Ctr 14	—	722	2,629	556	722	3,185	3,907	1,672	2000	2003
World Houston Int'l Business Ctr 15	—	731	—	6,180	731	6,180	6,911	3,067	2000	2007
World Houston Int'l Business Ctr 16	—	519	4,248	1,481	519	5,729	6,248	3,003	2000	2005
World Houston Int'l Business Ctr 17	—	373	1,945	799	373	2,744	3,117	1,279	2000	2004
World Houston Int'l Business Ctr 18	—	323	1,512	251	323	1,763	2,086	834	2005	1995
World Houston Int'l Business Ctr 19	—	373	2,256	1,126	373	3,382	3,755	1,866	2000	2004
World Houston Int'l Business Ctr 20	—	1,008	1,948	1,307	1,008	3,255	4,263	1,859	2000	2004
World Houston Int'l Business Ctr 21 (f)	2,230	436	—	3,506	436	3,506	3,942	1,375	2000/03	2006
World Houston Int'l Business Ctr 22	—	436	—	4,542	436	4,542	4,978	1,964	2000	2007
World Houston Int'l Business Ctr 23 (f)	4,567	910	—	7,163	910	7,163	8,073	2,782	2000	2007
World Houston Int'l Business Ctr 24	—	837	—	5,516	837	5,516	6,353	2,203	2005	2008
World Houston Int'l Business Ctr 25	—	508	—	3,801	508	3,801	4,309	1,324	2005	2008
World Houston Int'l Business Ctr 26 (i)	2,219	445	—	3,194	445	3,194	3,639	1,052	2005	2008
World Houston Int'l Business Ctr 27	—	837	—	5,004	837	5,004	5,841	1,580	2005	2008

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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 28 (i)	3,041	550	—	4,437	550	4,437	4,987	1,328	2005	2009
World Houston Int'l Business Ctr 29 (i)	3,002	782	—	4,141	974	3,949	4,923	1,144	2007	2009
World Houston Int'l Business Ctr 30 (i)	4,121	981	—	5,776	1,222	5,535	6,757	1,926	2007	2009
World Houston Int'l Business Ctr 31A	—	684	—	3,921	684	3,921	4,605	1,383	2008	2011
World Houston Int'l Business Ctr 31B	—	546	—	3,537	546	3,537	4,083	816	2008	2012
World Houston Int'l Business Ctr 32 (h)	3,959	1,225	—	5,663	1,526	5,362	6,888	1,078	2007	2012
World Houston Int'l Business Ctr 33	—	1,166	—	7,867	1,166	7,867	9,033	1,115	2011	2013
World Houston Int'l Business Ctr 34	—	439	—	3,373	439	3,373	3,812	527	2005	2012
World Houston Int'l Business Ctr 35	—	340	—	2,475	340	2,475	2,815	323	2005	2012
World Houston Int'l Business Ctr 36	—	684	—	4,879	684	4,879	5,563	700	2011	2013
World Houston Int'l Business Ctr 37	—	759	—	6,384	759	6,384	7,143	820	2011	2013
World Houston Int'l Business Ctr 38	—	1,053	—	7,320	1,053	7,320	8,373	1,025	2011	2013
World Houston Int'l Business Ctr 39	—	620	—	5,202	620	5,202	5,822	382	2011	2014
World Houston Int'l Business Ctr 40	—	1,072	—	9,346	1,072	9,346	10,418	712	2011	2014
World Houston Int'l Business Ctr 41	—	649	—	5,950	649	5,950	6,599	326	2011	2014
World Houston Int'l Business Ctr 42	—	571	—	4,813	571	4,813	5,384	243	2011	2015
Central Green Distribution Center	—	566	4,031	417	566	4,448	5,014	2,266	1999	1998
Glenmont Business Park	—	936	6,161	2,916	936	9,077	10,013	5,133	1998	1999/2000
Techway Southwest I	—	729	3,765	2,281	729	6,046	6,775	3,477	2000	2001
Techway Southwest II	—	550	3,689	1,283	550	4,972	5,522	2,596	2000	2004
Techway Southwest III	—	597	—	5,578	751	5,424	6,175	2,556	1999	2006
Techway Southwest IV	—	535	—	5,791	674	5,652	6,326	1,932	1999	2008
Beltway Crossing Business Park I	—	458	5,712	2,725	458	8,437	8,895	4,044	2002	2001
Beltway Crossing Business Park II	—	415	—	2,907	415	2,907	3,322	1,170	2005	2007
Beltway Crossing Business Park III	—	460	—	3,111	460	3,111	3,571	1,289	2005	2008
Beltway Crossing Business Park IV	—	460	—	3,035	460	3,035	3,495	1,260	2005	2008
Beltway Crossing Business Park V (i)	3,508	701	—	5,051	701	5,051	5,752	1,873	2005	2008
Beltway Crossing Business Park VI (h)	3,851	618	—	6,082	618	6,082	6,700	1,723	2005	2008
Beltway Crossing Business Park VII (h)	3,864	765	—	5,959	765	5,959	6,724	2,210	2005	2009
Beltway Crossing Business Park VIII	—	721	—	4,617	721	4,617	5,338	1,177	2005	2011
Beltway Crossing Business Park IX	—	418	—	2,113	418	2,113	2,531	371	2007	2012

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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 X	—	733	—	3,871	733	3,871	4,604	625	2007	2012
Beltway Crossing Business Park XI	—	690	—	4,101	690	4,101	4,791	523	2007	2013
West Road Business Park I	—	621	—	4,332	621	4,332	4,953	378	2012	2014
West Road Business Park II	—	981	—	5,295	981	5,295	6,276	426	2012	2014
West Road Business Park III	—	597	—	4,245	597	4,245	4,842	84	2012	2015
West Road Business Park IV	—	621	—	4,949	621	4,949	5,570	166	2012	2015
Ten West Crossing 1	—	566	—	2,997	566	2,997	3,563	431	2012	2013
Ten West Crossing 2	—	829	—	4,385	833	4,381	5,214	716	2012	2013
Ten West Crossing 3	—	609	—	4,357	613	4,353	4,966	680	2012	2013
Ten West Crossing 4	—	694	—	4,506	699	4,501	5,200	620	2012	2014
Ten West Crossing 5	—	933	—	5,872	940	5,865	6,805	573	2012	2014
Ten West Crossing 6	—	640	—	4,299	644	4,295	4,939	307	2012	2014
Ten West Crossing 7	—	584	—	5,125	588	5,121	5,709	83	2012	2015
El Paso
Butterfield Trail	—	—	20,725	8,538	—	29,263	29,263	17,672	1997/2000	1987/95
Rojas Commerce Park (g)	4,193	900	3,659	3,161	900	6,820	7,720	4,903	1999	1986
Americas Ten Business Center I	—	526	2,778	1,241	526	4,019	4,545	2,211	2001	2003
San Antonio
Alamo Downs Distribution Center	—	1,342	6,338	1,280	1,342	7,618	8,960	4,133	2004	1986/2002
Arion Business Park 1-13, 15	—	4,143	31,432	6,023	4,143	37,455	41,598	16,760	2005	1988-2000/06
Arion Business Park 14	—	423	—	3,435	423	3,435	3,858	1,306	2005	2006
Arion Business Park 16 (f)	2,309	427	—	3,654	427	3,654	4,081	1,212	2005	2007
Arion Business Park 17	—	616	—	4,096	616	4,096	4,712	2,097	2005	2007
Arion Business Park 18 (h)	1,604	418	—	2,373	418	2,373	2,791	1,002	2005	2008
Wetmore Business Center 1-4	—	1,494	10,804	3,194	1,494	13,998	15,492	6,781	2005	1998/99
Wetmore Business Center 5 (i)	2,347	412	—	3,436	412	3,436	3,848	1,531	2006	2008
Wetmore Business Center 6 (i)	2,568	505	—	3,706	505	3,706	4,211	1,335	2006	2008
Wetmore Business Center 7 (i)	2,674	546	—	3,838	546	3,838	4,384	1,014	2006	2008
Wetmore Business Center 8 (i)	5,303	1,056	—	7,639	1,056	7,639	8,695	2,337	2006	2008
Fairgrounds Business Park	—	1,644	8,209	2,176	1,644	10,385	12,029	4,800	2007	1985/86
Rittiman Distribution Center	—	1,083	6,649	337	1,083	6,986	8,069	1,187	2011	2000

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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
Thousand Oaks Distribution Center 1	—	607	—	4,292	607	4,292	4,899	951	2008	2012
Thousand Oaks Distribution Center 2	—	794	—	4,719	794	4,719	5,513	887	2008	2012
Thousand Oaks Distribution Center 3	—	772	—	4,457	772	4,457	5,229	680	2008	2013
Thousand Oaks Distribution Center 4	—	753	—	4,688	753	4,688	5,441	183	2013	2015
Alamo Ridge Business Park I	—	623	—	7,970	623	7,970	8,593	445	2007	2015
Alamo Ridge Business Park II	—	402	—	5,567	402	5,567	5,969	151	2007	2015
Austin
Colorado Crossing Distribution Center (g)	13,265	4,602	19,757	62	4,602	19,819	24,421	2,764	2014	2009
Southpark Corporate Center	—	2,670	14,756	497	2,670	15,253	17,923	1,323	2015	1995
Springdale Business Center	—	2,824	8,398	254	2,824	8,652	11,476	558	2015	2000
ARIZONA
Phoenix area
Broadway Industrial Park I	—	837	3,349	1,031	837	4,380	5,217	2,663	1996	1971
Broadway Industrial Park II	—	455	482	202	455	684	1,139	422	1999	1971
Broadway Industrial Park III	—	775	1,742	531	775	2,273	3,048	1,346	2000	1983
Broadway Industrial Park IV	—	380	1,652	783	380	2,435	2,815	1,502	2000	1986
Broadway Industrial Park V	—	353	1,090	141	353	1,231	1,584	662	2002	1980
Broadway Industrial Park VI (f)	1,801	599	1,855	730	599	2,585	3,184	1,485	2002	1979
Broadway Industrial Park VII	—	450	650	232	450	882	1,332	182	2011	1999
Kyrene Distribution Center	—	1,490	4,453	1,813	1,490	6,266	7,756	3,677	1999	1981/2001
Southpark Distribution Center	—	918	2,738	1,699	918	4,437	5,355	1,565	2001	2000
Santan 10 Distribution Center I	—	846	2,647	643	846	3,290	4,136	1,383	2001	2005
Santan 10 Distribution Center II (f)	3,536	1,088	—	5,163	1,088	5,163	6,251	2,123	2004	2007
Chandler Freeways	—	1,525	—	7,381	1,525	7,381	8,906	820	2012	2013
Kyrene 202 Business Park I	—	653	—	5,777	653	5,777	6,430	368	2011	2014
Kyrene 202 Business Park II	—	387	—	3,414	387	3,414	3,801	231	2011	2014
Kyrene 202 Business Park VI	—	936	—	6,970	936	6,970	7,906	90	2011	2015
Metro Business Park	—	1,927	7,708	7,055	1,927	14,763	16,690	9,663	1996	1977/79
35th Avenue Distribution Center (original building was redeveloped; currently in lease-up phase of development program)	—	418	2,381	207	418	2,588	3,006	1,341	1997	1967
51st Avenue Distribution Center	—	300	2,029	1,013	300	3,042	3,342	1,863	1998	1987

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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 I & II (f)	4,093	1,120	4,482	1,633	1,120	6,115	7,235	3,825	1998	1987/89
East University Distribution Center III	—	444	698	423	444	1,121	1,565	256	2010	1981
55th Avenue Distribution Center (f)	3,158	912	3,717	953	917	4,665	5,582	3,044	1998	1987
Interstate Commons Distribution Center I	—	311	1,416	720	311	2,136	2,447	1,159	1999	1988
Interstate Commons Distribution Center III	—	242	—	2,996	242	2,996	3,238	947	2000	2008
Airport Commons Distribution Center	—	1,000	1,510	1,356	1,000	2,866	3,866	1,670	2003	1971
40th Avenue Distribution Center (i)	4,124	703	—	6,059	703	6,059	6,762	1,874	2004	2008
Sky Harbor Business Park	—	5,839	—	21,411	5,839	21,411	27,250	6,526	2006	2008
Sky Harbor Business Park 6	—	807	—	2,177	807	2,177	2,984	102	2014	2015
Tucson
Country Club Commerce Center I	—	506	3,564	2,173	693	5,550	6,243	2,499	1997/2003	1994/2003
Country Club Commerce Center II	—	442	3,381	37	442	3,418	3,860	1,134	2007	2000
Country Club Commerce Center III & IV	—	1,407	—	11,825	1,575	11,657	13,232	3,936	2007	2009
Airport Distribution Center	—	1,103	4,672	1,549	1,103	6,221	7,324	3,739	1998	1995
Southpointe Distribution Center	—	—	3,982	2,950	—	6,932	6,932	4,229	1999	1989
Benan Distribution Center	—	707	1,842	649	707	2,491	3,198	1,360	2005	2001
NORTH CAROLINA
Charlotte area
NorthPark Business Park (f)	12,858	2,758	15,932	4,039	2,758	19,971	22,729	8,680	2006	1987-89
Lindbergh Business Park	—	470	3,401	453	470	3,854	4,324	1,485	2007	2001/03
Commerce Park Center I	—	765	4,303	791	765	5,094	5,859	1,842	2007	1983
Commerce Park Center II (h)	1,284	335	1,603	297	335	1,900	2,235	555	2010	1987
Commerce Park Center III (h)	2,135	558	2,225	932	558	3,157	3,715	844	2010	1981
Nations Ford Business Park	—	3,924	16,171	3,251	3,924	19,422	23,346	8,304	2007	1989/94
Airport Commerce Center	—	1,454	10,136	1,976	1,454	12,112	13,566	3,793	2008	2001/02
Interchange Park I (i)	5,804	986	7,949	583	986	8,532	9,518	2,500	2008	1989
Interchange Park II	—	746	1,456	55	746	1,511	2,257	173	2013	2000
Ridge Creek Distribution Center I	—	1,284	13,163	951	1,284	14,114	15,398	3,752	2008	2006
Ridge Creek Distribution Center II (h)	9,567	3,033	11,497	2,116	3,033	13,613	16,646	2,194	2011	2003
Ridge Creek Distribution Center III	—	2,459	11,147	381	2,459	11,528	13,987	1,115	2014	2013

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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)	4,237	1,392	5,068	912	1,392	5,980	7,372	1,258	2011	1996
Steele Creek Commerce Park I (g)	2,882	993	—	4,314	1,010	4,297	5,307	571	2013	2014
Steele Creek Commerce Park II (g)	2,932	941	—	4,458	957	4,442	5,399	510	2013	2014
Steele Creek Commerce Park III	—	1,464	—	6,411	1,469	6,406	7,875	588	2013	2014
Steele Creek Commerce Park IV	—	684	—	3,944	687	3,941	4,628	249	2013	2015
Waterford Distribution Center	—	654	3,392	501	654	3,893	4,547	1,102	2008	2000
LOUISIANA
New Orleans
Elmwood Business Park	—	2,861	6,337	4,536	2,861	10,873	13,734	7,492	1997	1979
Riverbend Business Park	—	2,557	17,623	6,762	2,557	24,385	26,942	13,630	1997	1984
COLORADO
Denver
Rampart Distribution Center I	—	1,023	3,861	1,973	1,023	5,834	6,857	4,040	1988	1987
Rampart Distribution Center II	—	230	2,977	1,164	230	4,141	4,371	2,697	1996/97	1996/97
Rampart Distribution Center III	—	1,098	3,884	1,866	1,098	5,750	6,848	2,876	1997/98	1999
Rampart Distribution Center IV	—	590	—	8,128	590	8,128	8,718	319	2012	2014
Concord Distribution Center (h)	3,599	1,051	4,773	439	1,051	5,212	6,263	1,879	2007	2000
Centennial Park (i)	3,541	750	3,319	1,738	750	5,057	5,807	1,697	2007	1990
NEVADA
Las Vegas
Arville Distribution Center	—	4,933	5,094	430	4,933	5,524	10,457	1,691	2009	1997
MISSISSIPPI
Jackson area
Interchange Business Park	—	343	5,007	3,246	343	8,253	8,596	5,279	1997	1981
Tower Automotive	—	—	9,958	1,256	17	11,197	11,214	4,633	2001	2002
Metro Airport Commerce Center I	—	303	1,479	1,074	303	2,553	2,856	1,505	2001	2003
	258,594	306,373	949,399	857,301	308,931	1,804,142	2,113,073	693,887

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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	—	2,455	1,446	2,235	3,681	—	2005	n/a
Madison Distribution Center IV & V	—	565	—	6,960	565	6,960	7,525	—	2012	2016
Horizon Commerce Park V	—	1,108	—	3,327	1,108	3,327	4,435	—	2008	n/a
Horizon Commerce Park VII	—	962	—	5,929	962	5,929	6,891	—	2008	n/a
Horizon Commerce Park land	—	6,701	—	9,428	6,701	9,428	16,129	—	2008/09	n/a
SunCoast Commerce Center IV	—	1,733	—	4,522	1,762	4,493	6,255	—	2006	n/a
SunCoast Commerce Center land	—	9,159	—	4,484	9,343	4,300	13,643	—	2006	n/a
Weston Commerce Park	—	4,163	9,951	167	4,163	10,118	14,281	22	2016	n/a
Gateway Commerce Park land	—	26,728	—	516	26,728	516	27,244	—	2016	n/a
TEXAS
North Stemmons land	—	537	—	276	537	276	813	—	2001	n/a
CreekView 121 1 & 2	—	3,275	—	8,580	3,275	8,580	11,855	—	2015	n/a
CreekView 121 land	—	7,922	—	874	7,922	874	8,796	—	2015/16	n/a
Parc North 1-4	—	4,615	26,358	1,147	4,615	27,505	32,120	147	2016	2016
Parc North land	—	2,519	—	194	2,519	194	2,713	—	2016	n/a
World Houston Int'l Business Ctr land	—	2,989	—	2,119	3,724	1,384	5,108	—	2007	n/a
World Houston Int'l Business Ctr land - 2011 expansion	—	1,636	—	4,309	2,921	3,024	5,945	—	2011	n/a
World Houston Int'l Business Ctr land - 2015 expansion	—	6,040	—	1,132	6,041	1,131	7,172	—	2015	n/a
Ten West Crossing land	—	1,126	—	798	1,135	789	1,924	—	2012	n/a
West Road Business Park land	—	484	—	741	484	741	1,225	—	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 III	—	907	—	9,652	907	9,652	10,559	—	2007	n/a
Alamo Ridge Business Park IV	—	354	—	4,591	354	4,591	4,945	—	2007	n/a
Eisenhauer Point Business Park 1 & 2	—	1,881	—	13,895	1,881	13,895	15,776	139	2015	2016
Eisenhauer Point Business Park 3	—	577	—	2,171	577	2,171	2,748	—	2015	n/a
Eisenhauer Point Business Park 4	—	555	—	2,098	555	2,098	2,653	—	2015	n/a
Eisenhauer Point Business Park land	—	1,387	—	648	1,387	648	2,035	—	2015	n/a
Eisenhauer Point Business Park land phase 2	—	3,225	—	679	3,225	679	3,904	—	2016	n/a
ARIZONA

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2016 (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	—		1,005	1,244	1,005	2,249	—	2011	n/a
35th Avenue Distribution Center - redevelopment	—		—	—		1,664	—	1,664	1,664	—	1997	2016
Ten Sky Harbor Business Center	—		1,568	—		3,697	1,569	3,696	5,265	—	2015	2016
Falcon Field Business Center land	—		1,311	—		333	1,311	333	1,644	—	2015	n/a
Airport Distribution Center II land	—		300	—		117	300	117	417	—	2000	n/a
Country Club V	—		2,885	—		410	2,885	410	3,295	—	2016	n/a
NEVADA
Jones Corporate Park	—		13,068	26,325		147	13,069	26,471	39,540	55	2016	2016
NORTH CAROLINA
Steele Creek Commerce Center VI	—		867	—		6,139	870	6,136	7,006	—	2013/14	2016
Steele Creek Commerce Center land	—		5,731	—		1,947	5,735	1,943	7,678	—	2013-2016	n/a
Airport Commerce Center III land	—		855	—		770	855	770	1,625	—	2008	n/a
MISSISSIPPI
Metro Airport Commerce Center II land	—		307	—		399	307	399	706	—	2001	n/a
	—		121,875	62,634		109,399	124,347	169,561	293,908	363
Total real estate owned (a)(b)	$	258,594	428,248	1,012,033		966,700	433,278	1,973,703	2,406,981	694,250
See accompanying Report of Independent Registered Public Accounting Firm on Financial Statement Schedules.

(a)  Changes in Real Estate Properties follow: 

	Years Ended December 31,
	2016			2015		2014
	(In thousands)
Balance at beginning of year	$	2,219,448		2,074,946		1,927,326
Purchases of real estate properties	22,228			28,648		47,477
Development of real estate properties	203,765			95,032		97,696
Improvements to real estate properties	23,157			25,778		19,862
Carrying amount of investments sold	(61,121		)	(4,750	)	(17,049	)
Write-off of improvements	(496		)	(206	)	(366	)
Balance at end of year (1)	$	2,406,981		2,219,448		2,074,946

(1) Includes 20% noncontrolling interests in Castilian Research Center of $0 and $1,795,000 at December 31, 2016 and 2015, respectively, and in University Business Center of $6,853,000 and $6,670,000 at December 31, 2016 and 2015, respectively.

Changes in the accumulated depreciation on real estate properties follow:

	Years Ended December 31,
	2016			2015		2014
	(In thousands)
Balance at beginning of year	$	657,454		600,526		550,113
Depreciation expense	63,793			59,882		57,303
Accumulated depreciation on assets sold	(26,501		)	(2,748	)	(6,525	)
Other	(496		)	(206	)	(365	)
Balance at end of year	$	694,250		657,454		600,526

(b) The estimated aggregate cost of real estate properties at December 31, 2016 for federal income tax purposes was approximately $2,370,650,000 before estimated accumulated tax depreciation of $467,599,000.  The federal income tax return for the year ended December 31, 2016, 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 projects to Real estate properties the earlier of 80% occupancy or one year after completion of the shell construction.

(e) EastGroup has a $52,231,000 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 $47,496,000 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 $52,752,000 non-recourse first mortgage loan with an insurance company secured by Colorado Crossing, Interstate I-III, Rojas, Steele Creek 1 & 2, Stemmons Circle, Venture and World Houston 3-9.

(h) EastGroup has a $44,493,000 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 $58,380,000 non-recourse first mortgage loan with an insurance company secured by 40^th Avenue, Beltway Crossing V, Centennial Park, Executive Airport, Interchange Park I, Ocean View, Wetmore 5-8 and World Houston 26, 28, 29 & 30.