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Real Estate Investments
 9 Months Ended
Sep. 30, 2026
Real Estate [Abstract]  
Real Estate Investments Real Estate Investments
Real Estate Portfolio
As of September 30, 2026, the Company owned 2,888 properties, with a total GLA of approximately 61.1 million square feet and net real estate investments of $9.52 billion. The Company owned 2,674 properties, with a total GLA of approximately 55.5 million square feet and net real estate investments of $8.57 billion as of December 31, 2025.
Acquisitions
The following table summarizes the acquisitions completed by the Company during the periods presented (dollars in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Number of properties acquired6890235227
Purchase price allocation, including acquisition and closing costs:
Land$71,366 $116,967 $345,654 $264,265 
Building and improvements199,679 219,789 647,014 651,319 
Lease intangibles and other assets, net38,095 65,879 174,071 174,422 
Total purchase price, including acquisition and closing costs$309,140 $402,635 $1,166,739 $1,090,006 

The 2026 and 2025 acquisitions were funded as cash purchases and there was no material contingent consideration associated with these acquisitions. The weighted average amortization period for the acquired lease intangibles and other assets, net was 13.9 years and 13.5 years for the three months ended September 30, 2026 and 2025, respectively and 13.8 years and 14.1 years for the nine months ended September 30, 2026 and 2025, respectively. None of the Company’s acquisitions have caused any new or existing tenants to comprise 10% or more of the Company’s total annualized contractual base rent at September 30, 2026 and 2025.
Development and Developer Funding Platform
The following table summarizes the Company’s development and Developer Funding Platform (“DFP”) activity during the periods presented:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Number of projects commenced651310
Number of ongoing projects8888
Number of projects delivered781218
Dispositions
The following table summarizes the Company’s disposition activity during the periods presented (dollars in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Number of properties sold1183213
Net proceeds$25,810 $14,615 $64,733 $22,772 
Gain on sale of assets, net$5,416 $924 $9,127 $3,207 

Assets Held for Sale
The Company classified one property as real estate held for sale as of September 30, 2026, and did not classify any properties as real estate held for sale as of December 31, 2025. Real estate held for sale, net in the condensed consolidated balance sheets is comprised of the following (in thousands):
September 30, 2026
Land$1,037 
Building and Improvements1,418 
Accumulated depreciation(151)
$2,304 
Lease intangibles, net$— 
Total real estate held for sale, net$2,304 

Subsequent to September 30, 2026, two additional properties were classified as real estate held for sale.
Provisions for Impairment
As a result of the Company’s review of real estate investments, it recognized the following provision for impairment for the periods presented (dollars in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Number of properties impaired—31010
Provision for impairment$— $2,980 $7,300 $10,272 
Estimated fair value of impaired properties at time of impairment$— $1,665 $18,433 $9,322