SCHEDULE III

12 Months Ended

Dec. 31, 2018

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

SCHEDULE III

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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
Jetport Commerce Park	$	—	1,575	6,591	6,154	1,575	12,745	14,320	8,861	1993-99	1974-85
Westport Commerce Center	—		980	3,800	2,854	980	6,654	7,634	4,781	1994	1983/87
Benjamin Distribution Center I & II	—		843	3,963	1,624	883	5,547	6,430	3,956	1997	1996
Benjamin Distribution Center III	—		407	1,503	654	407	2,157	2,564	1,603	1999	1988
Palm River Center	—		1,190	4,625	2,737	1,190	7,362	8,552	5,012	1997/98	1990/97/98
Palm River North I & III	—		1,005	4,688	2,611	1,005	7,299	8,304	4,418	1998	2000
Palm River North II	—		634	4,418	406	634	4,824	5,458	3,469	1997/98	1999
Palm River South I	—		655	3,187	651	655	3,838	4,493	1,918	2000	2005
Palm River South II	—		655	—	4,411	655	4,411	5,066	2,225	2000	2006
Walden Distribution Center I	—		337	3,318	634	337	3,952	4,289	2,208	1997/98	2001
Walden Distribution Center II	—		465	3,738	1,492	465	5,230	5,695	2,960	1998	1998
Oak Creek Distribution Center I	—		1,109	6,126	1,378	1,109	7,504	8,613	4,252	1998	1998
Oak Creek Distribution Center II	—		647	3,603	1,712	647	5,315	5,962	2,710	2003	2001
Oak Creek Distribution Center III	—		439	—	3,200	556	3,083	3,639	1,252	2005	2007
Oak Creek Distribution Center IV	—		682	6,472	825	682	7,297	7,979	3,008	2005	2001
Oak Creek Distribution Center V	—		724	—	5,961	916	5,769	6,685	2,422	2005	2007
Oak Creek Distribution Center VI	—		642	—	5,377	812	5,207	6,019	1,839	2005	2008
Oak Creek Distribution Center VII	—		740	—	6,396	740	6,396	7,136	200	2005	2017
Oak Creek Distribution Center VIII	—		843	—	6,236	1,051	6,028	7,079	632	2005	2015
Oak Creek Distribution Center IX	—		618	—	5,104	781	4,941	5,722	1,471	2005	2009
Oak Creek Distribution Center A	—		185	—	1,493	185	1,493	1,678	518	2005	2008
Oak Creek Distribution Center B	—		227	—	1,549	227	1,549	1,776	540	2005	2008
Airport Commerce Center	—		1,257	4,012	997	1,257	5,009	6,266	2,851	1998	1998
Westlake Distribution Center	—		1,333	6,998	2,595	1,333	9,593	10,926	5,696	1998	1998/99
Expressway Commerce Center I	—		915	5,346	1,573	915	6,919	7,834	3,517	2002	2004
Expressway Commerce Center II	—		1,013	3,247	785	1,013	4,032	5,045	2,031	2003	2001
Silo Bend Distribution Center	—		4,131	27,497	2,714	4,132	30,210	34,342	6,982	2011	1987/90

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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	651	791	5,409	6,200	1,449	2011	1984
Tampa West Distribution Center	—	2,139	8,502	1,263	2,140	9,764	11,904	2,555	2011	1975/93/94
Madison Distribution Center	—	495	2,779	428	495	3,207	3,702	881	2012	2007
Madison Distribution Center II & III	—	624	—	7,004	624	7,004	7,628	939	2012	2015
Madison Distribution Center IV & V	—	565	—	8,212	565	8,212	8,777	638	2012	2016
Orlando
Chancellor Center	—	291	1,711	511	291	2,222	2,513	1,346	1996/97	1996/97
Exchange Distribution Center I	—	603	2,414	2,289	603	4,703	5,306	3,430	1994	1975
Exchange Distribution Center II	—	300	945	482	300	1,427	1,727	862	2002	1976
Exchange Distribution Center III	—	320	997	408	320	1,405	1,725	938	2002	1980
Sunbelt Distribution Center	—	1,472	5,745	5,952	1,472	11,697	13,169	8,930	1989/97/98	1974/87/97/98
John Young Commerce Center I	—	497	2,444	1,433	497	3,877	4,374	2,243	1997/98	1997/98
John Young Commerce Center II	—	512	3,613	532	512	4,145	4,657	2,747	1998	1999
Altamonte Commerce Center I	—	1,498	2,661	2,746	1,498	5,407	6,905	4,000	1999	1980/82
Altamonte Commerce Center II	—	745	2,618	1,294	745	3,912	4,657	2,322	2003	1975
Sunport Center I	—	555	1,977	1,019	555	2,996	3,551	1,622	1999	1999
Sunport Center II	—	597	3,271	1,881	597	5,152	5,749	3,528	1999	2001
Sunport Center III	—	642	3,121	1,057	642	4,178	4,820	2,320	1999	2002
Sunport Center IV	—	642	2,917	1,814	642	4,731	5,373	2,548	1999	2004
Sunport Center V	—	750	2,509	2,386	750	4,895	5,645	2,818	1999	2005
Sunport Center VI	—	672	—	3,719	672	3,719	4,391	1,461	1999	2006
Southridge Commerce Park I	—	373	—	4,942	373	4,942	5,315	2,934	2003	2006
Southridge Commerce Park II	—	342	—	4,527	342	4,527	4,869	2,300	2003	2007
Southridge Commerce Park III	—	547	—	5,683	547	5,683	6,230	2,290	2003	2007
Southridge Commerce Park IV (h)	2,641	506	—	4,645	506	4,645	5,151	1,961	2003	2006
Southridge Commerce Park V (h)	2,510	382	—	4,514	382	4,514	4,896	2,169	2003	2006
Southridge Commerce Park VI	—	571	—	5,344	571	5,344	5,915	2,048	2003	2007
Southridge Commerce Park VII	—	520	—	6,741	520	6,741	7,261	2,568	2003	2008
Southridge Commerce Park VIII	—	531	—	6,353	531	6,353	6,884	2,058	2003	2008
Southridge Commerce Park IX	—	468	—	6,460	468	6,460	6,928	1,692	2003	2012
Southridge Commerce Park X	—	414	—	4,879	414	4,879	5,293	986	2003	2012

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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 XI	—	513	—	5,939	513	5,939	6,452	1,361	2003	2012
Southridge Commerce Park XII	—	2,025	—	16,896	2,025	16,896	18,921	5,140	2005	2008
Horizon Commerce Park I	—	991	—	6,528	991	6,528	7,519	1,199	2008	2014
Horizon Commerce Park II	—	1,111	—	7,205	1,111	7,205	8,316	1,086	2008	2014
Horizon Commerce Park III	—	991	—	6,480	991	6,480	7,471	706	2008	2016
Horizon Commerce Park IV	—	1,097	—	8,549	1,097	8,549	9,646	998	2008	2015
Horizon Commerce Park V	—	1,108	—	8,598	1,108	8,598	9,706	533	2008	2017
Horizon Commerce Park VII	—	962	—	7,471	962	7,471	8,433	631	2008	2017
Horizon Commerce Park X	—	846	—	6,601	846	6,601	7,447	179	2009	2018
Horizon Commerce Park XII	—	1,416	—	10,572	1,416	10,572	11,988	275	2009	2017
Jacksonville
Deerwood Distribution Center	—	1,147	1,799	3,397	1,147	5,196	6,343	3,474	1989	1978
Phillips Distribution Center	—	1,375	2,961	4,554	1,375	7,515	8,890	5,441	1994	1984/95
Lake Pointe Business Park	—	3,442	6,450	9,200	3,442	15,650	19,092	11,689	1993	1986/87
Ellis Distribution Center	—	540	7,513	1,909	540	9,422	9,962	5,081	1997	1977
Westside Distribution Center	—	2,011	15,374	8,677	2,011	24,051	26,062	12,855	1997/2008	1984/85
Beach Commerce Center	—	476	1,899	849	476	2,748	3,224	1,456	2000	2000
Interstate Distribution Center	—	1,879	5,700	1,938	1,879	7,638	9,517	4,314	2005	1990
Flagler Center	—	7,317	14,912	452	7,317	15,364	22,681	1,167	2016	1997 & 2005
Ft. Lauderdale/Palm Beach area
Linpro Commerce Center	—	613	2,243	3,248	616	5,488	6,104	3,355	1996	1986
Cypress Creek Business Park	—	—	2,465	2,524	—	4,989	4,989	3,144	1997	1986
Lockhart Distribution Center	—	—	3,489	2,958	—	6,447	6,447	4,471	1997	1986
Interstate Commerce Center	—	485	2,652	1,695	485	4,347	4,832	2,179	1998	1988
Executive Airport Distribution Ctr (f)	6,456	1,991	4,857	5,303	1,991	10,160	12,151	5,096	2001	2004/06
Sample 95 Business Park	—	2,202	8,785	3,617	2,202	12,402	14,604	8,240	1996/98	1990/99
Blue Heron Distribution Center	—	975	3,626	1,980	975	5,606	6,581	3,722	1999	1986
Blue Heron Distribution Center II	233	1,385	4,222	1,665	1,385	5,887	7,272	2,717	2004	1988
Blue Heron Distribution Center III	—	450	—	2,805	450	2,805	3,255	977	2004	2009
Weston Commerce Park	—	4,163	9,951	1,691	4,163	11,642	15,805	669	2016	1998

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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
Ft. Myers
SunCoast Commerce Center I	—	911	—	4,815		928	4,798	5,726	1,857	2005	2008
SunCoast Commerce Center II	—	911	—	4,999		928	4,982	5,910	2,107	2005	2007
SunCoast Commerce Center III	—	1,720	—	6,673		1,763	6,630	8,393	2,407	2006	2008
SunCoast Commerce Center IV	—	1,733	—	7,537		1,762	7,508	9,270	335	2006	2017
CALIFORNIA
San Francisco area
Wiegman Distribution Center I	—	2,197	8,788	2,137		2,308	10,814	13,122	6,561	1996	1986/87
Wiegman Distribution Center II	—	2,579	4,316	152		2,579	4,468	7,047	824	2012	1998
Huntwood Distribution Center	—	3,842	15,368	3,236		3,842	18,604	22,446	11,421	1996	1988
San Clemente Distribution Center	—	893	2,004	944		893	2,948	3,841	1,944	1997	1978
Yosemite Distribution Center	—	259	7,058	1,520		259	8,578	8,837	4,913	1999	1974/87
Los Angeles area
Eucalyptus Distribution Center	—	11,392	11,498	7		11,392	11,505	22,897	234	2018	1988
Kingsview Industrial Center (e)	2,264	643	2,573	883		643	3,456	4,099	2,074	1996	1980
Dominguez Distribution Center (e)	6,188	2,006	8,025	1,170		2,006	9,195	11,201	5,723	1996	1977
Main Street Distribution Center	—	1,606	4,103	831		1,606	4,934	6,540	2,877	1999	1999
Walnut Business Center (e)	5,940	2,885	5,274	2,593		2,885	7,867	10,752	4,478	1996	1966/90
Washington Distribution Center (e)	4,025	1,636	4,900	751		1,636	5,651	7,287	3,286	1997	1996/97
Chino Distribution Center	—	2,544	10,175	1,623		2,544	11,798	14,342	8,401	1998	1980
Ramona Distribution Center	2,474	3,761	5,751	25		3,761	5,776	9,537	647	2014	1984
Industry Distribution Center I (e)	15,111	10,230	12,373	4,750		10,230	17,123	27,353	9,392	1998	1959
Industry Distribution Center III (e)	1,577	—	3,012	(157	)	—	2,855	2,855	2,855	2007	1992
Chestnut Business Center	—	1,674	3,465	359		1,674	3,824	5,498	1,999	1998	1999
Los Angeles Corporate Center	—	1,363	5,453	3,340		1,363	8,793	10,156	6,034	1996	1986
Santa Barbara
University Business Center	—	5,517	22,067	12,835		5,520	34,899	40,419	18,641	1996	1987/88
Fresno
Shaw Commerce Center (e)	11,620	2,465	11,627	6,943		2,465	18,570	21,035	11,354	1998	1978/81/87

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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 Diego
Eastlake Distribution Center	—	3,046	6,888	1,811	3,046	8,699	11,745	5,487	1997	1989
Ocean View Corporate Center (f)	7,784	6,577	7,105	970	6,577	8,075	14,652	2,892	2010	2005
TEXAS
Dallas
Allen Station I & II	—	5,815	17,612	202	5,815	17,814	23,629	272	2018	2001
Interstate Warehouse I & II (g)	5,173	1,746	4,941	3,791	1,746	8,732	10,478	6,596	1988	1978
Interstate Warehouse III (g)	2,027	519	2,008	1,578	519	3,586	4,105	2,283	2000	1979
Interstate Warehouse IV	—	416	2,481	596	416	3,077	3,493	1,625	2004	2002
Interstate Warehouse V, VI, & VII (h)	4,307	1,824	4,106	2,471	1,824	6,577	8,401	3,322	2009	1979/80/81
Venture Warehouses (g)	3,935	1,452	3,762	2,755	1,452	6,517	7,969	5,316	1988	1979
ParkView Commerce Center 1-3	—	2,663	—	18,718	2,663	18,718	21,381	1,982	2014	2015
Shady Trail Distribution Center	—	635	3,621	1,265	635	4,886	5,521	2,573	2003	1998
Valwood Distribution Center	—	4,361	34,405	3,267	4,361	37,672	42,033	9,180	2012	1986/87/97/98
Northfield Distribution Center	—	12,470	50,713	3,868	12,471	54,580	67,051	13,009	2013	1999-2001/03/04/08
Parc North 1-4	—	4,615	26,358	5,937	4,615	32,295	36,910	2,289	2016	2016
CreekView 121 1 & 2	—	3,275	—	14,614	3,275	14,614	17,889	1,041	2015/16	2017
Houston
World Houston Int'l Business Ctr 1 & 2	—	660	5,893	2,133	660	8,026	8,686	4,983	1998	1996
World Houston Int'l Business Ctr 3, 4 & 5 (g)	4,445	1,025	6,413	1,564	1,025	7,977	9,002	4,946	1998	1998
World Houston Int'l Business Ctr 6 (g)	1,729	425	2,423	655	425	3,078	3,503	1,934	1998	1998
World Houston Int'l Business Ctr 7 & 8 (g)	5,043	680	4,584	4,947	680	9,531	10,211	5,978	1998	1998
World Houston Int'l Business Ctr 9 (g)	3,582	800	4,355	2,099	800	6,454	7,254	3,220	1998	1998
World Houston Int'l Business Ctr 10	—	933	4,779	824	933	5,603	6,536	2,665	2001	1999
World Houston Int'l Business Ctr 11	—	638	3,764	1,760	638	5,524	6,162	2,911	1999	1999
World Houston Int'l Business Ctr 12	—	340	2,419	383	340	2,802	3,142	1,673	2000	2002
World Houston Int'l Business Ctr 13	—	282	2,569	427	282	2,996	3,278	2,002	2000	2002
World Houston Int'l Business Ctr 14	—	722	2,629	1,124	722	3,753	4,475	2,015	2000	2003
World Houston Int'l Business Ctr 15	—	731	—	6,268	731	6,268	6,999	3,404	2000	2007

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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 16	—	519	4,248	1,505	519	5,753	6,272	3,294	2000	2005
World Houston Int'l Business Ctr 17	—	373	1,945	799	373	2,744	3,117	1,484	2000	2004
World Houston Int'l Business Ctr 19	—	373	2,256	1,126	373	3,382	3,755	2,023	2000	2004
World Houston Int'l Business Ctr 20	—	1,008	1,948	2,053	1,008	4,001	5,009	2,146	2000	2004
World Houston Int'l Business Ctr 21	—	436	—	3,982	436	3,982	4,418	1,622	2000/03	2006
World Houston Int'l Business Ctr 22	—	436	—	4,542	436	4,542	4,978	2,224	2000	2007
World Houston Int'l Business Ctr 23	—	910	—	7,354	910	7,354	8,264	3,150	2000	2007
World Houston Int'l Business Ctr 24	—	837	—	5,983	838	5,982	6,820	2,526	2005	2008
World Houston Int'l Business Ctr 25	—	508	—	4,032	508	4,032	4,540	1,608	2005	2008
World Houston Int'l Business Ctr 26 (f)	1,934	445	—	3,194	445	3,194	3,639	1,191	2005	2008
World Houston Int'l Business Ctr 27	—	837	—	5,011	838	5,010	5,848	1,985	2005	2008
World Houston Int'l Business Ctr 28 (f)	2,771	550	—	4,665	550	4,665	5,215	1,809	2005	2009
World Houston Int'l Business Ctr 29 (f)	2,635	782	—	4,177	974	3,985	4,959	1,350	2007	2009
World Houston Int'l Business Ctr 30 (f)	3,636	981	—	5,863	1,222	5,622	6,844	2,234	2007	2009
World Houston Int'l Business Ctr 31A	—	684	—	4,092	684	4,092	4,776	1,714	2008	2011
World Houston Int'l Business Ctr 31B	—	546	—	3,551	546	3,551	4,097	1,280	2008	2012
World Houston Int'l Business Ctr 32 (h)	3,528	1,225	—	5,655	1,526	5,354	6,880	1,404	2007	2012
World Houston Int'l Business Ctr 33	—	1,166	—	7,867	1,166	7,867	9,033	1,687	2011	2013
World Houston Int'l Business Ctr 34	—	439	—	3,373	439	3,373	3,812	820	2005	2012
World Houston Int'l Business Ctr 35	—	340	—	2,476	340	2,476	2,816	509	2005	2012
World Houston Int'l Business Ctr 36	—	684	—	4,882	684	4,882	5,566	1,126	2011	2013
World Houston Int'l Business Ctr 37	—	759	—	6,400	759	6,400	7,159	1,470	2011	2013
World Houston Int'l Business Ctr 38	—	1,053	—	7,324	1,053	7,324	8,377	1,668	2011	2013
World Houston Int'l Business Ctr 39	—	620	—	5,203	621	5,202	5,823	840	2011	2014
World Houston Int'l Business Ctr 40	—	1,072	—	9,347	1,072	9,347	10,419	1,343	2011	2014
World Houston Int'l Business Ctr 41	—	649	—	5,950	649	5,950	6,599	831	2011	2014
World Houston Int'l Business Ctr 42	—	571	—	4,814	571	4,814	5,385	575	2011	2015
Central Green Distribution Center	—	566	4,031	1,041	566	5,072	5,638	2,534	1999	1998
Glenmont Business Park	—	936	6,161	2,983	937	9,143	10,080	5,699	1998	1999/2000
Beltway Crossing Business Park I	—	458	5,712	2,758	458	8,470	8,928	5,058	2002	2001
Beltway Crossing Business Park II	—	415	—	2,997	415	2,997	3,412	1,365	2005	2007

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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 III	—	460	—	3,361	460	3,361	3,821	1,456	2005	2008
Beltway Crossing Business Park IV	—	460	—	3,089	460	3,089	3,549	1,394	2005	2008
Beltway Crossing Business Park V (f)	3,159	701	—	5,244	701	5,244	5,945	2,203	2005	2008
Beltway Crossing Business Park VI (h)	3,531	618	—	6,268	618	6,268	6,886	2,114	2005	2008
Beltway Crossing Business Park VII (h)	3,452	765	—	5,968	765	5,968	6,733	2,528	2005	2009
Beltway Crossing Business Park VIII	—	721	—	5,516	721	5,516	6,237	1,653	2005	2011
Beltway Crossing Business Park IX	—	418	—	2,137	418	2,137	2,555	549	2007	2012
Beltway Crossing Business Park X	—	733	—	3,902	733	3,902	4,635	922	2007	2012
Beltway Crossing Business Park XI	—	690	—	4,133	690	4,133	4,823	841	2007	2013
West Road Business Park I	—	621	—	4,031	541	4,111	4,652	806	2012	2014
West Road Business Park II	—	981	—	4,819	854	4,946	5,800	793	2012	2014
West Road Business Park III	—	597	—	4,222	520	4,299	4,819	379	2012	2015
West Road Business Park IV	—	621	—	4,622	541	4,702	5,243	664	2012	2015
West Road Business Park V	—	484	—	4,367	421	4,430	4,851	67	2012	2018
Ten West Crossing 1	—	566	—	2,997	566	2,997	3,563	665	2012	2013
Ten West Crossing 2	—	829	—	4,385	833	4,381	5,214	1,241	2012	2013
Ten West Crossing 3	—	609	—	4,362	613	4,358	4,971	1,147	2012	2013
Ten West Crossing 4	—	694	—	4,512	699	4,507	5,206	1,132	2012	2014
Ten West Crossing 5	—	933	—	5,872	940	5,865	6,805	1,074	2012	2014
Ten West Crossing 6	—	640	—	4,648	644	4,644	5,288	777	2012	2014
Ten West Crossing 7	—	584	—	5,321	589	5,316	5,905	606	2012	2015
El Paso
Butterfield Trail	—	—	20,725	9,018	—	29,743	29,743	19,472	1997/2000	1987/95
Rojas Commerce Park (g)	4,114	900	3,659	3,774	900	7,433	8,333	5,255	1999	1986
Americas Ten Business Center I	—	526	2,778	1,741	526	4,519	5,045	2,284	2001	2003
San Antonio
Alamo Downs Distribution Center	—	1,342	6,338	1,663	1,342	8,001	9,343	4,527	2004	1986/2002
Arion Business Park 1-13, 15	—	4,143	31,432	7,590	4,143	39,022	43,165	18,996	2005	1988-2000/06
Arion Business Park 14	—	423	—	3,479	423	3,479	3,902	1,518	2005	2006
Arion Business Park 16	—	427	—	3,712	427	3,712	4,139	1,459	2005	2007
Arion Business Park 17	—	616	—	4,270	616	4,270	4,886	2,409	2005	2007

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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
Arion Business Park 18 (h)	1,444	418	—	2,399	418	2,399	2,817	1,118	2005	2008
Wetmore Business Center 1-4	—	1,494	10,804	3,616	1,494	14,420	15,914	7,644	2005	1998/99
Wetmore Business Center 5 (f)	2,270	412	—	3,861	412	3,861	4,273	1,725	2006	2008
Wetmore Business Center 6 (f)	2,299	505	—	3,822	505	3,822	4,327	1,535	2006	2008
Wetmore Business Center 7 (f)	2,369	546	—	3,912	546	3,912	4,458	1,423	2006	2008
Wetmore Business Center 8 (f)	4,986	1,056	—	8,327	1,056	8,327	9,383	2,901	2006	2008
Fairgrounds Business Park	—	1,644	8,209	2,457	1,644	10,666	12,310	5,395	2007	1985/86
Rittiman Distribution Center	—	1,083	6,649	337	1,083	6,986	8,069	1,568	2011	2000
Thousand Oaks Distribution Center 1	—	607	—	4,320	607	4,320	4,927	1,468	2008	2012
Thousand Oaks Distribution Center 2	—	794	—	4,739	794	4,739	5,533	1,310	2008	2012
Thousand Oaks Distribution Center 3	—	772	—	4,460	772	4,460	5,232	1,180	2008	2013
Thousand Oaks Distribution Center 4	—	753	—	4,691	753	4,691	5,444	544	2013	2015
Alamo Ridge Business Park I	—	623	—	8,113	623	8,113	8,736	1,366	2007	2015
Alamo Ridge Business Park II	—	402	—	5,359	402	5,359	5,761	623	2007	2015
Alamo Ridge Business Park III	—	907	—	10,129	907	10,129	11,036	691	2007	2017
Alamo Ridge Business Park IV	—	354	—	7,462	355	7,461	7,816	344	2007	2017
Eisenhauer Point Business Park 1 & 2	—	1,881	—	14,717	1,881	14,717	16,598	1,382	2015	2016
Eisenhauer Point Business Park 3	—	577	—	6,094	577	6,094	6,671	303	2015	2017
Eisenhauer Point Business Park 4	—	555	—	4,816	555	4,816	5,371	287	2015	2017
Eisenhauer Point Business Park 5	—	818	—	7,017	818	7,017	7,835	209	2015	2018
Eisenhauer Point Business Park 6	—	569	—	4,859	569	4,859	5,428	53	2015	2018
Austin
Colorado Crossing Distribution Center (g)	12,112	4,602	19,757	173	4,594	19,938	24,532	4,782	2014	2009
Greenhill Distribution Center	—	802	3,273	—	802	3,273	4,075	10	2018	1999
Southpark Corporate Center 3 & 4	—	2,670	14,756	1,467	2,670	16,223	18,893	2,856	2015	1995
Southpark Corporate Center 5-7	—	1,301	7,589	812	1,301	8,401	9,702	679	2017	1995
Springdale Business Center	—	2,824	8,398	339	2,824	8,737	11,561	1,414	2015	2000
ARIZONA
Phoenix area
Broadway Industrial Park I	—	837	3,349	1,075	837	4,424	5,261	2,933	1996	1971
Broadway Industrial Park II	—	455	482	306	455	788	1,243	470	1999	1971

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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
Broadway Industrial Park III	—	775	1,742	543	775	2,285	3,060	1,456	2000	1983
Broadway Industrial Park IV	—	380	1,652	789	380	2,441	2,821	1,641	2000	1986
Broadway Industrial Park V	—	353	1,090	728	353	1,818	2,171	738	2002	1980
Broadway Industrial Park VI	—	599	1,855	758	599	2,613	3,212	1,680	2002	1979
Broadway Industrial Park VII	—	450	650	243	450	893	1,343	261	2011	1999
Kyrene Distribution Center	—	1,490	4,453	1,868	1,490	6,321	7,811	4,050	1999	1981/2001
Southpark Distribution Center	—	918	2,738	1,934	918	4,672	5,590	2,111	2001	2000
Santan 10 Distribution Center I	—	846	2,647	658	846	3,305	4,151	1,571	2001	2005
Santan 10 Distribution Center II	—	1,088	—	5,163	1,088	5,163	6,251	2,351	2004	2007
Chandler Freeways	—	1,525	—	7,381	1,525	7,381	8,906	1,428	2012	2013
Kyrene 202 Business Park I	—	653	—	5,777	653	5,777	6,430	816	2011	2014
Kyrene 202 Business Park II	—	387	—	3,414	387	3,414	3,801	473	2011	2014
Kyrene 202 Business Park III, IV, & V	—	1,244	—	11,684	1,244	11,684	12,928	340	2011	2018
Kyrene 202 Business Park VI	—	936	—	8,333	936	8,333	9,269	781	2011	2015
Metro Business Park	—	1,927	7,708	7,457	1,927	15,165	17,092	10,834	1996	1977/79
51st Avenue Distribution Center	—	300	2,029	1,085	300	3,114	3,414	2,089	1998	1987
East University Distribution Center I and II	—	1,120	4,482	1,915	1,120	6,397	7,517	4,416	1998	1987/89
East University Distribution Center III	—	444	698	423	444	1,121	1,565	411	2010	1981
55th Avenue Distribution Center	—	912	3,717	1,116	917	4,828	5,745	3,477	1998	1987
Interstate Commons Distribution Center I	—	311	1,416	718	311	2,134	2,445	1,417	1999	1988
Interstate Commons Distribution Center III	—	242	—	3,075	242	3,075	3,317	1,118	2000	2008
Airport Commons Distribution Center	—	1,000	1,510	1,605	1,000	3,115	4,115	2,007	2003	1971
40th Avenue Distribution Center (f)	3,594	703	—	6,061	703	6,061	6,764	2,276	2004	2008
Sky Harbor Business Park	—	5,839	—	21,855	5,839	21,855	27,694	7,795	2006	2008
Sky Harbor Business Park 6	—	807	—	2,177	807	2,177	2,984	265	2014	2015
Ten Sky Harbor Business Center	—	1,568	—	5,125	1,569	5,124	6,693	329	2015	2016
Tucson
Country Club Commerce Center I	—	506	3,564	3,766	693	7,143	7,836	2,911	1997/2003	1994/2003
Country Club Commerce Center II	—	442	3,381	1,061	709	4,175	4,884	1,329	2007	2000
Country Club Commerce Center III & IV	—	1,407	—	12,127	1,575	11,959	13,534	4,579	2007	2009

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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
Country Club Commerce Center V	—	2,885	—	21,633	2,886	21,632	24,518	384	2016	2018
Airport Distribution Center	—	1,403	4,672	1,834	1,403	6,506	7,909	3,970	1998/2000	1995
Southpointe Distribution Center	—	—	3,982	2,950	—	6,932	6,932	4,562	1999	1989
Benan Distribution Center	—	707	1,842	697	707	2,539	3,246	1,482	2005	2001
NORTH CAROLINA
Charlotte area
NorthPark Business Park	—	2,758	15,932	5,026	2,758	20,958	23,716	10,071	2006	1987-89
Lindbergh Business Park	—	470	3,401	555	470	3,956	4,426	1,716	2007	2001/03
Commerce Park Center I	—	765	4,303	1,064	765	5,367	6,132	2,179	2007	1983
Commerce Park Center II (h)	1,150	335	1,603	304	335	1,907	2,242	697	2010	1987
Commerce Park Center III (h)	1,925	558	2,225	971	558	3,196	3,754	1,095	2010	1981
Nations Ford Business Park	—	3,924	16,171	4,130	3,924	20,301	24,225	9,497	2007	1989/94
Airport Commerce Center	—	1,454	10,136	2,394	1,454	12,530	13,984	4,742	2008	2001/02
Interchange Park I (f)	5,071	986	7,949	608	986	8,557	9,543	2,998	2008	1989
Interchange Park II	—	746	1,456	65	746	1,521	2,267	276	2013	2000
Ridge Creek Distribution Center I	—	1,284	13,163	1,067	1,284	14,230	15,514	4,525	2008	2006
Ridge Creek Distribution Center II (h)	8,534	3,033	11,497	2,116	3,033	13,613	16,646	3,197	2011	2003
Ridge Creek Distribution Center III	—	2,459	11,147	538	2,459	11,685	14,144	1,830	2014	2013
Lakeview Business Center (h)	3,785	1,392	5,068	922	1,392	5,990	7,382	1,711	2011	1996
Steele Creek Commerce Park I (g)	2,621	993	—	4,315	1,010	4,298	5,308	969	2013	2014
Steele Creek Commerce Park II (g)	2,666	941	—	4,459	957	4,443	5,400	1,000	2013	2014
Steele Creek Commerce Park III	—	1,464	—	6,412	1,469	6,407	7,876	1,190	2013	2014
Steele Creek Commerce Park IV	—	684	—	3,945	687	3,942	4,629	684	2013	2015
Steele Creek Commerce Park VI	—	867	—	6,978	869	6,976	7,845	534	2013/14	2016
Steele Creek Commerce Park VII	—	1,207	—	7,936	1,210	7,933	9,143	181	2013/14/15	2017
Waterford Distribution Center	—	654	3,392	822	654	4,214	4,868	1,425	2008	2000
GEORGIA
Atlanta
Shiloh 400 Business Center I & II	—	3,092	14,216	1,874	3,092	16,090	19,182	1,356	2017	2008
Broadmoor Commerce Park I	—	1,307	3,560	587	1,307	4,147	5,454	541	2017	1999
Gwinnett 316	—	531	3,617	21	531	3,638	4,169	77	2018	1990

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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
Hurricane Shoals I & II	—	4,284	12,449	1,822	4,284	14,271	18,555	517	2017	2017
Progress Center I & II	—	1,297	9,015	209	1,297	9,224	10,521	457	2017	2017
LOUISIANA
New Orleans
Elmwood Business Park	—	2,861	6,337	5,533	2,861	11,870	14,731	8,253	1997	1979
Riverbend Business Park	—	2,557	17,623	8,835	2,557	26,458	29,015	15,659	1997	1984
COLORADO
Denver
Rampart Distribution Center I	—	1,023	3,861	2,314	1,023	6,175	7,198	4,590	1988	1987
Rampart Distribution Center II	—	230	2,977	1,589	230	4,566	4,796	2,888	1996/97	1997
Rampart Distribution Center III	—	1,098	3,884	2,434	1,098	6,318	7,416	3,323	1997/98	1999
Rampart Distribution Center IV	—	590	—	8,340	590	8,340	8,930	969	2012	2014
Concord Distribution Center (h)	3,237	1,051	4,773	490	1,051	5,263	6,314	2,107	2007	2000
Centennial Park (f)	3,151	750	3,319	1,861	750	5,180	5,930	1,957	2007	1990
NEVADA
Las Vegas
Arville Distribution Center	—	4,933	5,094	442	4,933	5,536	10,469	1,967	2009	1997
Jones Corporate Park	—	13,068	26,325	1,913	13,068	28,238	41,306	1,687	2016	2016
MISSISSIPPI
Jackson area
Interchange Business Park	—	343	5,007	4,682	343	9,689	10,032	5,908	1997	1981
Tower Automotive	—	—	9,958	1,937	17	11,878	11,895	5,255	2001	2002
Metro Airport Commerce Center I	—	303	1,479	1,254	303	2,733	3,036	1,610	2001	2003
	189,038	378,543	1,077,934	1,097,004	380,684	2,172,797	2,553,481	814,731

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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
Development and Value-Add Properties (d):
CALIFORNIA
Siempre Viva Distribution Center	—	4,723	9,211	141		4,723	9,352	14,075	115	2018	2003
FLORIDA
Oak Creek Distribution Center land	—	841	—	719		707	853	1,560	—	2005	n/a
SunCoast Commerce Center land	—	7,648	—	5,674		7,978	5,344	13,322	—	2006	n/a
SunCoast Commerce Center V	—	1,511	—	5,024		1,594	4,941	6,535	—	2006	n/a
Horizon Commerce Park land	—	3,339	—	2,380		2,240	3,479	5,719	—	2008/09	n/a
Horizon Commerce Park VI	—	1,099	—	7,126		1,099	7,126	8,225	—	2008/09	n/a
Horizon Commerce Park XI	—	1,101	—	7,622		1,101	7,622	8,723	—	2008/09	n/a
Gateway Commerce Park I	—	5,746	—	14,495		5,746	14,495	20,241	—	2016	2018
Gateway Commerce Park land	—	21,132	—	15,199		21,132	15,199	36,331	—	2016	n/a
TEXAS
CreekView 121 3 & 4	—	2,600	—	11,200		2,600	11,200	13,800	35	2015/16	2018
CreekView 121 5 & 6	—	2,681	—	2,924		2,681	2,924	5,605	—	2015/16	n/a
CreekView 121 land	—	2,640	—	946		2,640	946	3,586	—	2015/16	n/a
LakePort 2499 Land	—	5,700	—	354		5,700	354	6,054	—	2018	n/a
Parc North 5	—	1,286	—	5,667		1,286	5,667	6,953	—	2016	n/a
Parc North land	—	1,233	—	1,319		1,233	1,319	2,552	—	2016	n/a
Lee Road Land	—	2,989	—	(300	)	1,960	729	2,689	—	2007	n/a
Ten West Crossing 8	—	1,126	—	5,464		1,135	5,455	6,590	—	2012	n/a
World Houston Int'l Business Ctr land - 2011 expansion	—	1,636	—	4,356		2,921	3,071	5,992	—	2011	n/a
World Houston Int'l Business Ctr land - 2015 expansion	—	6,041	—	1,717		6,041	1,717	7,758	—	2015	n/a
Eisenhauer Point 7 & 8	—	999	—	12,091		2,593	10,497	13,090	—	2016	n/a
Eisenhauer Point Land	—	632	—	521		632	521	1,153	—	2016	n/a
Ridgeview 35 Land	—	3,273	—	101		3,273	101	3,374	—	2018	n/a
Tri-County Crossing 1 and 2	—	1,623	—	7,272		1,623	7,272	8,895	—	2017	n/a
Tri-County Crossing land	—	3,637	—	885		3,637	885	4,522	—	2017	n/a
Settlers Crossing 1	—	1,211	—	5,049		1,211	5,049	6,260	—	2017	n/a
Settlers Crossing 2	—	1,306	—	5,809		1,306	5,809	7,115	—	2017	n/a
Settlers Crossing land	—	2,774	—	968		2,774	968	3,742	—	2017	n/a

SCHEDULE III
REAL ESTATE PROPERTIES AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2018 (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
ARIZONA
Falcon Field Business Center	—		1,312	—		6,920	1,312	6,920	8,232	34	2015	2018
Gilbert Crossroads Land	—		6,534	—		275	6,534	275	6,809	—	2018	n/a
NORTH CAROLINA
Airport Commerce Center III	—		855	—		4,938	855	4,938	5,793	—	2008	n/a
Steele Creek Commerce Park 5	—		611	—		2,703	611	2,703	3,314	—	2013	n/a
Steele Creek Commerce Park Land	—		4,574	—		2,635	4,592	2,617	7,209	—	2016/17	n/a
GEORGIA
Broadmoor Commerce Park 2	—		519	—		5,895	519	5,895	6,414	—	2017	2018
Hurricane Shoals Land	—		497	—		229	497	229	726	—	2017	n/a
MISSISSIPPI
Metro Airport Commerce Center II land	—		307	—		399	307	399	706	—	2001	n/a
	—		105,736	9,211		148,717	106,793	156,871	263,664	184
Total real estate owned (a)(b)	$	189,038	484,279	1,087,145		1,245,721	487,477	2,329,668	2,817,145	814,915
See accompanying Report of Independent Registered Public Accounting Firm.

(a)  Changes in Real Estate Properties follow: 

	Years Ended December 31,
	2018			2017		2016
	(In thousands)
Balance at beginning of year	$	2,578,748		2,407,029		2,219,465
Purchases of real estate properties	54,537			51,802		22,228
Development of real estate properties and value-add properties	167,667			124,938		203,765
Improvements to real estate properties	36,921			28,698		23,188
Carrying amount of investments sold	(18,372		)	(32,787	)	(61,121	)
Write-off of improvements	(2,356		)	(932	)	(496	)
Balance at end of year (1)	$	2,817,145		2,578,748		2,407,029

(1) Includes 20% noncontrolling interest in University Business Center of $3,296,000 and $3,217,000 at December 31, 2018 and 2017, respectively.

Changes in the accumulated depreciation on real estate properties follow:

	Years Ended December 31,
	2018			2017		2016
	(In thousands)
Balance at beginning of year	$	749,601		694,250		657,454
Depreciation expense	76,007			69,010		63,793
Accumulated depreciation on assets sold	(8,670		)	(12,735	)	(26,501	)
Other	(2,023		)	(924	)	(496	)
Balance at end of year	$	814,915		749,601		694,250

(b) The estimated aggregate cost of real estate properties at December 31, 2018 for federal income tax purposes was approximately $2,771,697,000 before estimated accumulated tax depreciation of $573,441,000.  The federal income tax return for the year ended December 31, 2018, 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) Effective January 1, 2018, the Company began transferring development projects from Development and value-add properties to Real estate properties at the earlier of 90% occupancy or one year after completion of the shell construction. Prior to 2018, the Company transferred development projects to Real estate properties the earlier of 80% occupancy or one year after completion of the shell construction.

(e) EastGroup has a $46,725,000 non-recourse first mortgage loan with an insurance company secured by Dominguez, Industry I & III, Kingsview, Shaw, Walnut and Washington.  

(f) EastGroup has a $52,115,000 non-recourse first mortgage loan with an insurance company secured by 40th Avenue, Beltway Crossing V, Centennial Park, Executive Airport, Interchange Park I, Ocean View, Wetmore 5-8 and World Houston 26, 28, 29 & 30.

(g) EastGroup has a $47,445,000 non-recourse first mortgage loan with an insurance company secured by Colorado Crossing, Interstate I-III, Rojas, Steele Creek 1 & 2, Venture and World Houston 3-9. Subsequent to December 31, 2018, the Company executed a collateral release for World Houston 5; this property is no longer considered to be collateral securing this loan.

(h) EastGroup has a $40,046,000 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.