v3.26.1
RENTALS UNDER OPERATING LEASES (Tables)
 6 Months Ended
Jun. 30, 2026
Lessor Disclosure [Abstract]  
Schedule of Rental and Other Property Income The Company's property related income from its real estate investments is comprised of the following:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Lease revenue (1)
$8,404 $9,872 $16,877 $19,462 
Straight-line revenue 144 428 276 803 
Above- and below-market lease amortization, net17 113 131 227 
Lease incentive amortization(26)(26)(52)(52)
Property related income$8,539 $10,387 $17,232 $20,440 
(1) Lease revenue includes $798 and $1,340 of variable income from tenant reimbursements for the three months ended June 30, 2026 and 2025, respectively and $1,283 and $2,614 of variable income from tenant reimbursement for the six months ended June 30, 2026 and 2025, respectively.
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity
The future minimum rentals to be received, excluding tenant reimbursements, under the non-cancelable portions of all of the Company's in-place commercial leases in effect as of June 30, 2026 are as follows:
YearAmount
2026 (remainder)$9,434 
202717,783 
202816,161 
202913,231 
20309,778 
Thereafter68,657 
$135,044 
Schedule of Tenants Representing Greater Than 10% of Gross Rental Revenues
Percentages of property related income by property and tenant representing more than 10% of the Company's total property related income for the three and six months ended June 30, 2026 and 2025 are shown below.
Percent of property related income
PropertyThree Months Ended June 30, 2026Six Months Ended June 30, 2026
Commerce Corner, Logan Township, NJ20.2 %20.6 %
The Glenn, Centennial, CO19.9 19.9 
Providence Square, Marietta, GA15.2 14.8 
Flats at Carrs Hill, Athens, GA13.4 13.2 
Seattle East Industrial, Redmond, WA12.7 12.6 
Total81.4 %81.1 %
Percent of property related income
TenantThree Months Ended June 30, 2026Six Months Ended June 30, 2026
Performance Food Group, Inc. - Commerce Corner17.9 %18.2 %
FedEx Ground - Seattle East Industrial12.7 12.6 
Total30.6 %30.8 %

Percent of property related income
PropertyThree Months Ended June 30, 2025Six Months Ended June 30, 2025
The Glenn, Centennial, CO18.2 %17.9 %
Commerce Corner, Logan Township, NJ17.8 17.4 
Flats at Carrs Hill, Athens, GA11.6 11.7 
Providence Square, Marietta, GA11.3 11.3 
Seattle East Industrial, Redmond, WA10.5 10.7 
Total69.4 %69.0 %
Percent of property related income
TenantThree Months Ended June 30, 2025Six Months Ended June 30, 2025
Performance Food Group, Inc. - Commerce Corner13.7 %14.3 %
FedEx Ground - Seattle East Industrial10.5 10.7 
Total24.2 %25.0 %
The Company's tenants representing more than 10% of in-place annualized base rental revenues as of June 30, 2026 and 2025 were as follows:
Percent of in-place annualized base rental revenues as of
PropertyJune 30, 2026June 30, 2025
Performance Food Group, Inc. - Commerce Corner14.6 %12.3 %
FedEx Ground - Seattle East Industrial13.7 12.0 
Northrop Grumman Systems Inc. - Loudoun Gateway11.2 9.5 
Total39.5 %33.8 %