Commitments and Contingencies

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

In the normal course of business, we are involved in legal actions arising from the ownership and operation of our industrial properties. In our opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a materially adverse effect on our consolidated financial position, results of operations or liquidity.

In conjunction with the development of industrial properties, we have entered into construction agreements with general contractors for the development of industrial properties. At March 31, 2025, we had eight development projects under construction, totaling approximately 2.0 million square feet of GLA. The estimated total investment for these projects as of March 31, 2025 is approximately $280,400, of which approximately $147,000 remains to be funded. There can be no assurance that actual completion costs will not exceed the estimated amounts.