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Concentration of Credit Risk
12 Months Ended
Dec. 31, 2022
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk

Note 5. Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents in excess of insured amounts and tenant receivables. The Company places its cash and cash equivalents with high quality financial institutions. Management performs ongoing credit evaluations of its tenants and requires certain tenants to provide security deposits and/or suitable guarantees.

Excluding properties held for sale and properties included in discontinued operations, there were no tenants that accounted for an aggregate of more than 10% of the Company’s total revenues during 2022, 2021 and 2020.

Excluding properties held for sale, the Company’s properties are located largely in the Northeast, which exposes it to greater economic risks than if the properties it owned were located in a greater number of geographic regions (in particular, 7 of the Company’s properties are located in Pennsylvania).