STAG Industrial Inc
For the period ended Dec 31, 2023. Filed Feb 13, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 13, 2024
STAG$37.44+2.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 2. Properties
As of December 31, 2023, we owned the properties in the following table.
| State | City | Number of Buildings | Asset Type | Total Rentable Square Feet |
|---|---|---|---|---|
| Alabama | Birmingham | 4 | Warehouse / Distribution | 362,916 |
| Montgomery | 1 | Warehouse / Distribution | 332,000 | |
| Moody | 1 | Warehouse / Distribution | 595,346 | |
| Phenix City | 1 | Warehouse / Distribution | 117,568 | |
| Arkansas | Bryant | 1 | Warehouse / Distribution | 300,160 |
| Rogers | 1 | Warehouse / Distribution | 400,000 | |
| Arizona | Avondale | 1 | Warehouse / Distribution | 186,643 |
| Chandler | 1 | Light Manufacturing | 104,352 | |
| Gilbert | 1 | Warehouse / Distribution | 41,504 | |
| Mesa | 1 | Light Manufacturing | 71,030 | |
| Tucson | 1 | Warehouse / Distribution | 129,047 | |
| California | Fresno | 1 | Warehouse / Distribution | 232,072 |
| Hollister | 1 | Warehouse / Distribution | 175,325 | |
| Lodi | 1 | Warehouse / Distribution | 400,340 | |
| McClellan | 1 | Warehouse / Distribution | 160,534 | |
| Menifee | 2 | Warehouse/ Distribution | 157,146 | |
| Morgan Hill | 2 | Light Manufacturing | 107,126 | |
| Rancho Cordova | 2 | Warehouse / Distribution | 106,718 | |
| Roseville | 1 | Warehouse / Distribution | 114,597 | |
| Sacramento | 7 | Warehouse / Distribution | 846,519 | |
| Sacramento | 1 | Light Manufacturing | 130,000 | |
| San Diego | 1 | Warehouse / Distribution | 205,440 | |
| Stockton | 3 | Warehouse / Distribution | 263,716 | |
| West Sacramento | 1 | Warehouse / Distribution | 236,716 | |
| Colorado | Grand Junction | 1 | Warehouse / Distribution | 82,800 |
| Johnstown | 1 | Warehouse / Distribution | 132,194 | |
| Longmont | 1 | Light Manufacturing | 64,750 | |
| Loveland | 2 | Warehouse / Distribution | 195,674 | |
| Connecticut | East Windsor | 2 | Warehouse / Distribution | 271,111 |
| Milford | 2 | Warehouse / Distribution | 367,700 | |
| North Haven | 3 | Warehouse / Distribution | 824,727 | |
| Wallingford | 1 | Warehouse / Distribution | 105,000 | |
| Delaware | New Castle | 1 | Warehouse / Distribution | 485,987 |
| Florida | Daytona Beach | 1 | Light Manufacturing | 142,857 |
| Fort Myers | 1 | Warehouse / Distribution | 260,620 | |
| Jacksonville | 5 | Warehouse / Distribution | 1,256,750 | |
| Lake Worth | 2 | Warehouse / Distribution | 157,758 | |
| Lake Worth | 1 | Light Manufacturing | 42,158 | |
| Lakeland | 1 | Warehouse / Distribution | 215,280 | |
| Orlando | 1 | Warehouse / Distribution | 155,000 | |
| Orlando | 1 | Light Manufacturing | 215,900 | |
| Tampa | 1 | Warehouse / Distribution | 78,560 | |
| West Palm Beach | 1 | Light Manufacturing | 112,353 | |
| Georgia | Atlanta | 1 | Warehouse / Distribution | 175,532 |
| Augusta | 1 | Warehouse / Distribution | 203,726 | |
| Buford | 1 | Warehouse / Distribution | 103,720 | |
| Calhoun | 1 | Warehouse / Distribution | 151,200 | |
| Dallas | 1 | Warehouse / Distribution | 92,807 | |
| Forest Park | 1 | Warehouse / Distribution | 373,900 | |
| Lithonia | 1 | Warehouse / Distribution | 210,858 |
| State | City | Number of Buildings | Asset Type | Total Rentable Square Feet |
|---|---|---|---|---|
| Norcross | 1 | Warehouse / Distribution | 152,036 | |
| Savannah | 1 | Warehouse / Distribution | 504,300 | |
| Shannon | 1 | Warehouse / Distribution | 568,516 | |
| Smyrna | 1 | Warehouse / Distribution | 102,000 | |
| Statham | 1 | Warehouse / Distribution | 225,692 | |
| Stone Mountain | 1 | Warehouse / Distribution | 78,000 | |
| Iowa | Ankeny | 2 | Warehouse / Distribution | 400,968 |
| Council Bluffs | 1 | Warehouse / Distribution | 90,000 | |
| Des Moines | 2 | Warehouse / Distribution | 301,381 | |
| Marion | 1 | Warehouse / Distribution | 95,500 | |
| Idaho | Idaho Falls | 1 | Warehouse / Distribution | 78,690 |
| Illinois | Bartlett | 1 | Warehouse / Distribution | 207,575 |
| Batavia | 2 | Warehouse / Distribution | 204,642 | |
| Batavia | 1 | Light Manufacturing | 56,676 | |
| Belvidere | 6 | Warehouse / Distribution | 1,069,222 | |
| Cary | 1 | Warehouse / Distribution | 79,049 | |
| Crystal Lake | 4 | Warehouse / Distribution | 506,096 | |
| Elgin | 2 | Warehouse / Distribution | 383,856 | |
| Elgin | 1 | Light Manufacturing | 41,007 | |
| Elmhurst | 1 | Warehouse / Distribution | 72,499 | |
| Gurnee | 1 | Warehouse / Distribution | 338,740 | |
| Harvard | 1 | Light Manufacturing | 126,304 | |
| Hodgkins | 2 | Warehouse / Distribution | 518,109 | |
| Itasca | 3 | Warehouse / Distribution | 311,355 | |
| Lisle | 1 | Light Manufacturing | 105,925 | |
| Machesney Park | 1 | Warehouse / Distribution | 80,000 | |
| McHenry | 2 | Warehouse / Distribution | 169,311 | |
| Montgomery | 1 | Warehouse / Distribution | 584,301 | |
| Saint Charles | 1 | Light Manufacturing | 102,000 | |
| Sauk Village | 1 | Warehouse / Distribution | 375,785 | |
| Schaumburg | 1 | Warehouse / Distribution | 67,817 | |
| St. Charles | 1 | Light Manufacturing | 115,491 | |
| Vernon Hills | 1 | Warehouse / Distribution | 95,486 | |
| Waukegan | 1 | Warehouse / Distribution | 131,252 | |
| West Chicago | 2 | Warehouse / Distribution | 649,558 | |
| West Chicago | 5 | Light Manufacturing | 305,874 | |
| West Dundee | 1 | Warehouse / Distribution | 154,475 | |
| Wood Dale | 1 | Light Manufacturing | 137,607 | |
| Indiana | Albion | 1 | Light Manufacturing | 37,578 |
| Elkhart | 2 | Warehouse / Distribution | 170,100 | |
| Fort Wayne | 1 | Warehouse / Distribution | 108,800 | |
| Goshen | 1 | Warehouse / Distribution | 366,000 | |
| Greenwood | 1 | Warehouse / Distribution | 154,440 | |
| Indianapolis | 1 | Warehouse / Distribution | 78,600 | |
| Jeffersonville | 1 | Warehouse / Distribution | 563,032 | |
| Lafayette | 3 | Warehouse / Distribution | 466,400 | |
| Lebanon | 3 | Warehouse / Distribution | 2,230,323 | |
| Marion | 1 | Warehouse / Distribution | 249,920 | |
| Portage | 2 | Warehouse / Distribution | 786,249 | |
| South Bend | 1 | Warehouse / Distribution | 225,000 | |
| Whitestown | 1 | Warehouse / Distribution | 258,000 | |
| Yoder | 1 | Warehouse / Distribution | 764,177 | |
| Kansas | Edwardsville | 1 | Warehouse / Distribution | 270,869 |
| Lenexa | 3 | Warehouse / Distribution | 581,059 | |
| Olathe | 2 | Warehouse / Distribution | 725,839 | |
| Wichita | 3 | Warehouse / Distribution | 248,550 |
| State | City | Number of Buildings | Asset Type | Total Rentable Square Feet |
|---|---|---|---|---|
| Kentucky | Bardstown | 1 | Warehouse / Distribution | 102,318 |
| Danville | 1 | Warehouse / Distribution | 757,047 | |
| Erlanger | 1 | Warehouse / Distribution | 108,620 | |
| Florence | 2 | Warehouse / Distribution | 641,136 | |
| Hebron | 1 | Warehouse / Distribution | 109,000 | |
| Louisiana | Baton Rouge | 3 | Warehouse / Distribution | 532,036 |
| Shreveport | 1 | Warehouse / Distribution | 420,259 | |
| Massachusetts | Chicopee | 1 | Warehouse / Distribution | 217,000 |
| Hudson | 1 | Light Manufacturing | 128,000 | |
| Malden | 2 | Light Manufacturing | 109,943 | |
| Middleborough | 1 | Light Manufacturing | 80,100 | |
| Norton | 1 | Warehouse / Distribution | 200,000 | |
| South Easton | 1 | Light Manufacturing | 86,000 | |
| Sterling | 1 | Warehouse / Distribution | 119,056 | |
| Stoughton | 2 | Warehouse / Distribution | 258,213 | |
| Westborough | 1 | Warehouse / Distribution | 121,700 | |
| Maryland | Elkridge | 1 | Warehouse / Distribution | 167,223 |
| Hagerstown | 3 | Warehouse / Distribution | 1,424,620 | |
| Hampstead | 1 | Warehouse / Distribution | 1,035,249 | |
| Hunt Valley | 1 | Warehouse / Distribution | 46,867 | |
| White Marsh | 1 | Warehouse / Distribution | 103,564 | |
| Maine | Biddeford | 2 | Warehouse / Distribution | 265,126 |
| Gardiner | 1 | Warehouse / Distribution | 265,000 | |
| Lewiston | 1 | Flex Office | 60,000 | |
| Portland | 1 | Warehouse / Distribution | 100,600 | |
| Michigan | Belleville | 1 | Light Manufacturing | 160,464 |
| Canton | 1 | Warehouse / Distribution | 491,049 | |
| Chesterfield | 4 | Warehouse / Distribution | 478,803 | |
| Grand Rapids | 4 | Warehouse / Distribution | 656,262 | |
| Holland | 1 | Warehouse / Distribution | 195,000 | |
| Kentwood | 2 | Warehouse / Distribution | 370,020 | |
| Kentwood | 1 | Light Manufacturing | 85,157 | |
| Lansing | 4 | Warehouse / Distribution | 770,425 | |
| Livonia | 2 | Warehouse / Distribution | 285,306 | |
| Marshall | 1 | Light Manufacturing | 57,025 | |
| Novi | 3 | Warehouse / Distribution | 685,010 | |
| Plymouth | 1 | Warehouse / Distribution | 125,214 | |
| Redford | 1 | Warehouse / Distribution | 138,912 | |
| Romulus | 1 | Warehouse / Distribution | 303,760 | |
| Romulus | 1 | Light Manufacturing | 274,500 | |
| Sterling Heights | 1 | Warehouse / Distribution | 108,000 | |
| Walker | 1 | Warehouse / Distribution | 210,000 | |
| Warren | 4 | Warehouse / Distribution | 981,540 | |
| Wixom | 1 | Warehouse / Distribution | 126,720 | |
| Zeeland | 1 | Warehouse / Distribution | 230,200 | |
| Minnesota | Blaine | 1 | Warehouse / Distribution | 248,816 |
| Bloomington | 1 | Light Manufacturing | 145,351 | |
| Brooklyn Park | 1 | Warehouse / Distribution | 200,720 | |
| Carlos | 1 | Light Manufacturing | 196,270 | |
| Eagan | 1 | Warehouse / Distribution | 276,550 | |
| Inver Grove Heigh | 1 | Warehouse / Distribution | 80,655 | |
| Maple Grove | 2 | Warehouse / Distribution | 207,875 | |
| Mendota Heights | 1 | Warehouse / Distribution | 87,183 | |
| New Hope | 1 | Light Manufacturing | 107,348 |
| State | City | Number of Buildings | Asset Type | Total Rentable Square Feet |
|---|---|---|---|---|
| Newport | 1 | Warehouse / Distribution | 83,000 | |
| Oakdale | 2 | Warehouse / Distribution | 210,044 | |
| Plymouth | 3 | Warehouse / Distribution | 357,085 | |
| Savage | 1 | Warehouse / Distribution | 244,050 | |
| Shakopee | 1 | Warehouse / Distribution | 160,000 | |
| Shakopee | 1 | Light Manufacturing | 136,589 | |
| South Saint Paul | 1 | Warehouse / Distribution | 422,727 | |
| St. Paul | 1 | Warehouse / Distribution | 316,636 | |
| Missouri | Berkeley | 1 | Warehouse / Distribution | 121,223 |
| Earth City | 1 | Warehouse / Distribution | 116,783 | |
| Fenton | 1 | Warehouse / Distribution | 127,464 | |
| Hazelwood | 1 | Warehouse / Distribution | 305,550 | |
| Kansas City | 1 | Warehouse / Distribution | 702,000 | |
| O’Fallon | 2 | Warehouse / Distribution | 186,854 | |
| Mississippi | Southaven | 1 | Warehouse / Distribution | 556,600 |
| North Carolina | Catawba | 1 | Warehouse / Distribution | 137,785 |
| Charlotte | 3 | Warehouse / Distribution | 243,880 | |
| Durham | 1 | Warehouse / Distribution | 80,600 | |
| Garner | 1 | Warehouse / Distribution | 150,000 | |
| Greensboro | 2 | Warehouse / Distribution | 261,909 | |
| Huntersville | 1 | Warehouse / Distribution | 185,570 | |
| Lexington | 1 | Warehouse / Distribution | 201,800 | |
| Mebane | 2 | Warehouse / Distribution | 606,840 | |
| Mebane | 1 | Light Manufacturing | 202,691 | |
| Mocksville | 1 | Warehouse / Distribution | 129,600 | |
| Mooresville | 2 | Warehouse / Distribution | 799,200 | |
| Mountain Home | 1 | Warehouse / Distribution | 146,014 | |
| Newton | 1 | Warehouse / Distribution | 217,200 | |
| Pineville | 1 | Light Manufacturing | 75,400 | |
| Rural Hall | 1 | Warehouse / Distribution | 250,000 | |
| Salisbury | 1 | Warehouse / Distribution | 288,000 | |
| Smithfield | 1 | Warehouse / Distribution | 307,845 | |
| Troutman | 1 | Warehouse / Distribution | 301,000 | |
| Winston-Salem | 1 | Warehouse / Distribution | 385,000 | |
| Youngsville | 1 | Warehouse / Distribution | 365,000 | |
| Nebraska | Bellevue | 1 | Warehouse / Distribution | 370,000 |
| La Vista | 1 | Warehouse / Distribution | 178,368 | |
| Omaha | 5 | Warehouse / Distribution | 464,558 | |
| New Hampshire | Londonderry | 1 | Warehouse / Distribution | 125,060 |
| Nashua | 1 | Warehouse / Distribution | 337,391 | |
| New Jersey | Branchburg | 1 | Warehouse / Distribution | 113,973 |
| Burlington | 2 | Warehouse / Distribution | 756,990 | |
| Franklin Township | 1 | Warehouse / Distribution | 183,000 | |
| Lumberton | 1 | Light Manufacturing | 120,000 | |
| Moorestown | 2 | Warehouse / Distribution | 187,569 | |
| Mt. Laurel | 1 | Warehouse / Distribution | 112,294 | |
| Pedricktown | 1 | Warehouse / Distribution | 247,220 | |
| Piscataway | 1 | Warehouse / Distribution | 101,381 | |
| Swedesboro | 1 | Warehouse / Distribution | 123,962 | |
| Westampton | 1 | Warehouse / Distribution | 189,434 | |
| New Mexico | Santa Teresa | 1 | Warehouse / Distribution | 92,325 |
| Nevada | Fernley | 1 | Light Manufacturing | 183,435 |
| Las Vegas | 1 | Warehouse / Distribution | 34,916 |
| State | City | Number of Buildings | Asset Type | Total Rentable Square Feet |
|---|---|---|---|---|
| Las Vegas | 1 | Light Manufacturing | 122,472 | |
| Paradise | 2 | Light Manufacturing | 80,422 | |
| Reno | 1 | Light Manufacturing | 87,264 | |
| Sparks | 2 | Warehouse / Distribution | 326,986 | |
| New York | Buffalo | 1 | Warehouse / Distribution | 117,000 |
| Cheektowaga | 1 | Warehouse / Distribution | 121,760 | |
| Farmington | 1 | Warehouse / Distribution | 149,657 | |
| Gloversville | 3 | Warehouse / Distribution | 211,554 | |
| Johnstown | 2 | Warehouse / Distribution | 117,102 | |
| Johnstown | 1 | Light Manufacturing | 42,325 | |
| Rochester | 2 | Warehouse / Distribution | 252,860 | |
| Ronkonkoma | 1 | Warehouse / Distribution | 64,224 | |
| Ohio | Bedford Heights | 1 | Warehouse / Distribution | 173,034 |
| Boardman | 1 | Warehouse / Distribution | 176,930 | |
| Canal Winchester | 2 | Warehouse / Distribution | 814,265 | |
| Columbus | 4 | Warehouse / Distribution | 1,486,450 | |
| Dayton | 1 | Warehouse / Distribution | 205,761 | |
| Etna | 1 | Warehouse / Distribution | 1,232,149 | |
| Fairborn | 1 | Warehouse / Distribution | 259,369 | |
| Fairfield | 2 | Warehouse / Distribution | 364,948 | |
| Gahanna | 1 | Warehouse / Distribution | 383,000 | |
| Groveport | 1 | Warehouse / Distribution | 320,657 | |
| Hilliard | 1 | Warehouse / Distribution | 237,500 | |
| Macedonia | 2 | Warehouse / Distribution | 338,297 | |
| Maple Heights | 1 | Warehouse / Distribution | 170,000 | |
| Mason | 1 | Light Manufacturing | 116,200 | |
| North Jackson | 2 | Warehouse / Distribution | 518,758 | |
| Oakwood Village | 1 | Warehouse / Distribution | 75,000 | |
| Salem | 1 | Light Manufacturing | 271,000 | |
| Seville | 1 | Warehouse / Distribution | 75,000 | |
| Streetsboro | 1 | Warehouse / Distribution | 343,416 | |
| Strongsville | 2 | Warehouse / Distribution | 341,561 | |
| Toledo | 1 | Warehouse / Distribution | 177,500 | |
| Twinsburg | 2 | Warehouse / Distribution | 426,974 | |
| West Chester | 1 | Warehouse / Distribution | 269,868 | |
| West Jefferson | 1 | Warehouse / Distribution | 857,390 | |
| Oklahoma | Oklahoma City | 2 | Warehouse / Distribution | 303,740 |
| Tulsa | 2 | Warehouse / Distribution | 309,600 | |
| Oregon | Beaverton | 2 | Warehouse / Distribution | 121,426 |
| Salem | 2 | Light Manufacturing | 155,900 | |
| Wilsonville | 1 | Warehouse / Distribution | 78,000 | |
| Pennsylvania | Allentown | 4 | Warehouse / Distribution | 514,134 |
| Burgettstown | 1 | Warehouse / Distribution | 455,000 | |
| Charleroi | 1 | Warehouse / Distribution | 119,161 | |
| Clinton | 7 | Warehouse / Distribution | 1,531,972 | |
| Croydon | 1 | Warehouse / Distribution | 101,869 | |
| Elizabethtown | 1 | Warehouse / Distribution | 206,236 | |
| Export | 1 | Warehouse / Distribution | 138,270 | |
| Hazleton | 1 | Warehouse / Distribution | 589,580 | |
| Imperial | 1 | Warehouse / Distribution | 315,634 | |
| Kulpsville | 1 | Warehouse / Distribution | 152,625 | |
| Lancaster | 1 | Warehouse / Distribution | 240,528 | |
| Langhorne | 2 | Warehouse / Distribution | 180,000 | |
| Langhorne | 2 | Light Manufacturing | 287,647 | |
| Lebanon | 1 | Warehouse / Distribution | 211,358 | |
| Mechanicsburg | 3 | Warehouse / Distribution | 747,054 |
| State | City | Number of Buildings | Asset Type | Total Rentable Square Feet |
|---|---|---|---|---|
| Muhlenberg Township | 1 | Warehouse / Distribution | 392,107 | |
| New Galilee | 1 | Warehouse / Distribution | 410,389 | |
| New Kensington | 1 | Warehouse / Distribution | 200,500 | |
| New Kingstown | 1 | Warehouse / Distribution | 330,000 | |
| O’Hara Township | 1 | Warehouse / Distribution | 887,084 | |
| Pittston | 1 | Warehouse / Distribution | 437,446 | |
| Reading | 1 | Warehouse / Distribution | 248,000 | |
| Warrendale | 1 | Warehouse / Distribution | 179,394 | |
| York | 5 | Warehouse / Distribution | 1,306,834 | |
| South Carolina | Columbia | 1 | Light Manufacturing | 185,600 |
| Duncan | 3 | Warehouse / Distribution | 996,841 | |
| Edgefield | 1 | Light Manufacturing | 126,190 | |
| Fountain Inn | 2 | Warehouse / Distribution | 442,472 | |
| Fountain Inn | 1 | Light Manufacturing | 203,888 | |
| Gaffney | 1 | Warehouse / Distribution | 226,968 | |
| Goose Creek | 1 | Warehouse / Distribution | 500,355 | |
| Greenwood | 2 | Light Manufacturing | 175,055 | |
| Greer | 6 | Warehouse / Distribution | 654,935 | |
| Laurens | 1 | Warehouse / Distribution | 125,000 | |
| Piedmont | 7 | Warehouse / Distribution | 1,387,556 | |
| Rock Hill | 3 | Warehouse / Distribution | 720,120 | |
| Simpsonville | 3 | Warehouse / Distribution | 1,138,494 | |
| Spartanburg | 9 | Warehouse / Distribution | 1,802,623 | |
| Summerville | 1 | Warehouse / Distribution | 88,583 | |
| Wellford | 1 | Warehouse / Distribution | 233,433 | |
| West Columbia | 6 | Warehouse / Distribution | 1,163,822 | |
| West Columbia | 1 | Light Manufacturing | 464,206 | |
| Tennessee | Chattanooga | 3 | Warehouse / Distribution | 646,200 |
| Cleveland | 1 | Warehouse / Distribution | 151,704 | |
| Clinton | 1 | Warehouse / Distribution | 166,000 | |
| Jackson | 1 | Warehouse / Distribution | 267,391 | |
| Knoxville | 2 | Warehouse / Distribution | 335,310 | |
| Knoxville | 1 | Light Manufacturing | 106,000 | |
| Lebanon | 2 | Warehouse / Distribution | 407,552 | |
| Loudon | 1 | Warehouse / Distribution | 104,074 | |
| Madison | 1 | Warehouse / Distribution | 418,406 | |
| Mascot | 1 | Warehouse / Distribution | 130,560 | |
| Mascot | 1 | Light Manufacturing | 190,560 | |
| Memphis | 2 | Warehouse / Distribution | 1,331,075 | |
| Murfreesboro | 2 | Warehouse / Distribution | 212,312 | |
| Nashville | 1 | Warehouse / Distribution | 154,485 | |
| Vonore | 1 | Warehouse / Distribution | 342,700 | |
| Texas | Arlington | 2 | Warehouse / Distribution | 290,324 |
| Cedar Hill | 1 | Warehouse / Distribution | 420,000 | |
| Conroe | 1 | Warehouse / Distribution | 252,662 | |
| El Paso | 12 | Warehouse / Distribution | 2,413,344 | |
| Garland | 1 | Light Manufacturing | 253,900 | |
| Grapevine | 2 | Warehouse / Distribution | 202,140 | |
| Houston | 8 | Warehouse / Distribution | 999,124 | |
| Houston | 2 | Light Manufacturing | 412,935 | |
| Humble | 1 | Warehouse / Distribution | 289,200 | |
| Irving | 1 | Warehouse / Distribution | 120,900 | |
| Katy | 2 | Warehouse / Distribution | 244,903 | |
| Laredo | 2 | Warehouse / Distribution | 462,658 | |
| McAllen | 1 | Warehouse / Distribution | 301,200 | |
| Mission | 1 | Warehouse / Distribution | 270,084 | |
| Rockwall | 1 | Warehouse / Distribution | 389,546 | |
| Stafford | 1 | Warehouse / Distribution | 68,300 |
| State | City | Number of Buildings | Asset Type | Total Rentable Square Feet |
|---|---|---|---|---|
| Waco | 1 | Warehouse / Distribution | 66,400 | |
| Utah | Provo | 1 | Warehouse / Distribution | 177,071 |
| Virginia | Chester | 1 | Warehouse / Distribution | 100,000 |
| Fredericksburg | 1 | Warehouse / Distribution | 140,555 | |
| Harrisonburg | 1 | Warehouse / Distribution | 357,673 | |
| Independence | 1 | Warehouse / Distribution | 120,000 | |
| N. Chesterfield | 1 | Warehouse / Distribution | 109,520 | |
| Norfolk | 1 | Warehouse / Distribution | 102,512 | |
| Richmond | 1 | Light Manufacturing | 78,128 | |
| Washington | Ridgefield | 1 | Warehouse / Distribution | 141,400 |
| Wisconsin | Appleton | 1 | Warehouse / Distribution | 152,000 |
| Caledonia | 1 | Light Manufacturing | 53,680 | |
| Cudahy | 1 | Warehouse / Distribution | 128,000 | |
| De Pere | 1 | Warehouse / Distribution | 200,000 | |
| DeForest | 1 | Warehouse / Distribution | 262,521 | |
| Delavan | 2 | Light Manufacturing | 146,400 | |
| East Troy | 1 | Warehouse / Distribution | 149,624 | |
| Elkhorn | 1 | Warehouse / Distribution | 111,000 | |
| Elkhorn | 1 | Light Manufacturing | 78,540 | |
| Franklin | 1 | Warehouse / Distribution | 156,482 | |
| Germantown | 4 | Warehouse / Distribution | 520,163 | |
| Hartland | 1 | Warehouse / Distribution | 121,050 | |
| Hudson | 1 | Warehouse / Distribution | 139,875 | |
| Janesville | 1 | Warehouse / Distribution | 700,000 | |
| Kenosha | 1 | Light Manufacturing | 175,052 | |
| Madison | 2 | Warehouse / Distribution | 283,000 | |
| Mayville | 1 | Light Manufacturing | 339,179 | |
| Mukwonago | 1 | Warehouse / Distribution | 157,438 | |
| Muskego | 1 | Warehouse / Distribution | 81,230 | |
| New Berlin | 3 | Warehouse / Distribution | 590,663 | |
| Oak Creek | 2 | Warehouse / Distribution | 232,144 | |
| Pewaukee | 2 | Warehouse / Distribution | 288,201 | |
| Pleasant Prairie | 1 | Warehouse / Distribution | 291,599 | |
| Pleasant Prairie | 1 | Light Manufacturing | 105,637 | |
| Sun Prairie | 1 | Warehouse / Distribution | 427,000 | |
| West Allis | 4 | Warehouse / Distribution | 243,478 | |
| Yorkville | 1 | Warehouse / Distribution | 98,151 | |
| Total | 569 | 112,271,592 |
Not reflected in the table above are six buildings under development.
As of December 31, 2023, one of our 569 buildings was encumbered by mortgage indebtedness totaling approximately $4.5 million (excluding unamortized deferred financing fees, debt issuance costs, and fair market value premiums or discounts). See Note 4 in the accompanying Notes to the Consolidated Financial Statements and the accompanying Schedule III for additional information.
Top Markets
The following table summarizes information about the 20 largest markets in our portfolio based on total annualized base rental revenue as of December 31, 2023.
| Top 20 Markets(1) | % of Total Annualized Base Rental Revenue |
|---|---|
| Chicago, IL | 6.9% |
| Greenville, SC | 5.4% |
| Pittsburgh, PA | 4.1% |
| Detroit, MI | 4.1% |
| Columbus, OH | 3.7% |
| Minneapolis, MN | 3.6% |
| South Central, PA | 3.3% |
| Philadelphia, PA | 3.2% |
| Houston, TX | 2.6% |
| El Paso, TX | 2.4% |
| Milwaukee, WI | 2.2% |
| Charlotte, NC | 2.1% |
| Indianapolis, IN | 2.1% |
| Sacramento, CA | 1.9% |
| Cleveland, OH | 1.8% |
| Boston, MA | 1.7% |
| Kansas City, MO | 1.7% |
| Columbia, SC | 1.5% |
| Grand Rapids, MI | 1.5% |
| Cincinnati, OH | 1.3% |
| Total | 57.1% |
(1) Market classification based on CBRE-EA industrial market geographies.
Top Industries
The following table summarizes information about the 20 largest tenant industries in our portfolio based on total annualized base rental revenue as of December 31, 2023.
| Top 20 Tenant Industries(1) | % of Total Annualized Base Rental Revenue |
|---|---|
| Air Freight & Logistics | 11.0% |
| Containers & Packaging | 8.1% |
| Automobile Components | 7.1% |
| Machinery | 6.0% |
| Commercial Services & Supplies | 5.8% |
| Trading Companies & Distribution (Industrial Goods) | 5.4% |
| Distributors (Consumer Goods) | 4.5% |
| Building Products | 4.2% |
| Consumer Staples Distribution | 3.7% |
| Broadline Retail | 3.7% |
| Household Durables | 3.6% |
| Media | 3.1% |
| Specialty Retail | 2.8% |
| Ground Transportation | 2.6% |
| Beverages | 2.4% |
| Food Products | 2.2% |
| Electronic Equip, Instruments | 2.1% |
| Health Care Equipment & Supplies | 2.0% |
| Chemicals | 2.0% |
| Textiles, Apparel, Luxury Goods | 1.5% |
| Total | 83.8% |
(1) Industry classification based on Global Industry Classification Standard methodology.
Top Tenants
The following table summarizes information about the 20 largest tenants in our portfolio based on total annualized base rental revenue as of December 31, 2023.
| Top 20 Tenants(1) | Number of Leases | % of Total Annualized Base Rental Revenue |
|---|---|---|
| Amazon | 6 | 2.9% |
| Soho Studio, LLC | 1 | 0.9% |
| American Tire Distributors, Inc. | 7 | 0.9% |
| Eastern Metal Supply, Inc. | 5 | 0.9% |
| Tempur Sealy International, Inc. | 2 | 0.8% |
| Hachette Book Group, Inc. | 1 | 0.8% |
| Kenco Logistic Services, LLC | 3 | 0.7% |
| Yanfeng US Automotive Interior | 2 | 0.7% |
| WestRock Company | 7 | 0.7% |
| Penguin Random House, LLC | 1 | 0.7% |
| FedEx Corporation | 3 | 0.7% |
| Lippert Component Manufacturing | 4 | 0.7% |
| DS Smith North America | 2 | 0.7% |
| GXO Logistics, Inc. | 2 | 0.7% |
| AFL Telecommunications LLC | 2 | 0.6% |
| DHL Supply Chain | 4 | 0.6% |
| Carolina Beverage Group | 3 | 0.6% |
| Iron Mountain Information Management | 5 | 0.6% |
| Packaging Corp of America | 5 | 0.6% |
| Berlin Packaging LLC | 4 | 0.6% |
| Total | 69 | 16.4% |
(1) Includes tenants, guarantors, and/or non-guarantor parents.
Scheduled Lease Expirations
As of December 31, 2023, our Weighted Average Lease Term was approximately 4.5 years. The following table summarizes lease expirations for leases in place as of December 31, 2023, plus available space, for each of the ten calendar years beginning with 2024 and thereafter in our portfolio.
| Lease Expiration Year | Number of Leases Expiring | Total Rentable Square Feet(2) | % of Total Occupied Square Feet | Total Annualized Base Rental Revenue (in thousands) | % of Total Annualized Base Rental Revenue |
|---|---|---|---|---|---|
| Available | — | 2,062,300 | — | $— | — |
| Month-to-month leases(1) | 1 | 141,869 | 0.1% | 1,116 | 0.2% |
| 2024 | 62 | 8,256,998 | 7.5% | 44,397 | 7.6% |
| 2025 | 104 | 13,442,258 | 12.2% | 65,556 | 11.3% |
| 2026 | 139 | 19,727,593 | 17.9% | 104,264 | 18.0% |
| 2027 | 116 | 16,263,260 | 14.8% | 84,401 | 14.5% |
| 2028 | 93 | 11,847,861 | 10.8% | 63,905 | 11.0% |
| 2029 | 79 | 12,912,794 | 11.7% | 63,280 | 10.9% |
| 2030 | 38 | 6,038,157 | 5.5% | 37,409 | 6.4% |
| 2031 | 43 | 7,529,932 | 6.8% | 37,499 | 6.5% |
| 2032 | 19 | 2,800,575 | 2.5% | 19,507 | 3.4% |
| 2033 | 14 | 2,327,202 | 2.1% | 13,416 | 2.3% |
| Thereafter | 31 | 8,920,793 | 8.1% | 45,628 | 7.9% |
| Total/weighted average | 739 | 112,271,592 | 100.0% | $580,378 | 100.0% |
(1)The month-to-month total rentable square footage includes a 40,000 square foot secondary short-term lease occupied by another tenant, whose lease count is included in their original long-term suite.
(2)Leases previously scheduled to expire in 2024, totaling approximately 7.0 million square feet, have been amended to extend their lease expiration date as of December 31, 2023. These leases amended are excluded from 2024 expirations and are reflected in the new year of expiration.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.