Portfolio Statistics.Net Leased. Long-Term. Diversified.
Creditworthy. Inflation-Protected. Resilient.
We own and operate a diversified portfolio of strategically-located, institutional-quality office and industrial properties subject to long-duration leases with many world-renowned companies.
Institutional Quality Portfolio of
Net-Leased Office & Industrial Properties.
$4.7B
Total enterprise value
80
Properties
77%/23%
Office / Industrial
$249M
In-place annual rent
95.2%
Portfolio Occupancy
7.1 Yrs
WALT
63.7%
IG Tenants BBB Avg. Rating
2.0%
Average Annual Escalations
Representative Tenants.
Rent Growth
Rent Growth | % of ABR | Wtd. Avg. Annual Growth Rate |
Annually | 86.3% | 2.2% |
Every 5 Years | 9.0% | 1.2% |
Other Frequencies | 3.3% | 2.5% |
No Escalations | 1.4% | - |
Portfolio Total/Weighted Average | 100% | 2.0% |
Top 10 Tenants
Top Tenants | Rating | % of ABR | WALT | |
 | Amazon.com Inc. | AA | 6.6 | 9.4 |
 | Keurig Dr. Pepper, Inc. | BBB | 4.6 | 7.2 |
 | Wood Group USA, Inc. | HY5 | 4.1 | 3.3 |
 | Southern Company Services, Inc. | BBB+ | 3.7 | 21.6 |
 | LPL Holdings, Inc. | BB+ | 3.4 | 14.2 |
 | Freeport Minerals Corporation | Baa2 | 3.2 | 4.7 |
 | DigitalGlobe, Inc. | B | 3.1 | 7.8 |
 | RH | IG10 | 2.9 | 8.0 |
 | Wyndham Hotel Group, LLC | BB- | 2.9 | 7.0 |
 | American Express | A2 | 2.5 | 4.8 |
Top 10 Total/Average Lease Term | 36.9 | 9.0 |
Investment Grade Rating
Investment Grade Rating | % of ABR |
Tenant | 33.7% |
Guarantor | 12.1% |
Tenant/Guarantor | 45.8% |
Parent | 17.9% |
Total Investment Grade | 63.7% |
Tenant Profile – 78 Tenants
Average Square Footage Leased per Tenant | 263,383 |
Average Annual Net Rent per Sq Ft - Office | $17.85 |
Average Annual Net Rent per Sq Ft - Industrial | $5.24 |
Weighted Average Credit Rating | BBB |
Weighted Average Lease Term (WALT) | 7.1 |
Top 10 Industries
Industry | % of Net Rents |
Capital Goods | 13.1 |
Materials | 8.1 |
Health Care Equipment & Services | 7.8 |
Consumer Services | 7.7 |
Insurance | 7.4 |
Telecommunication Services | 5.4 |
Diversified Financials | 5.3 |
Technology Hardware & Equipment | 5.2 |
Retailing | 5.1 |
Consumer Durables & Apparel | 4.9 |
Top 10 Total | 70.0 |
All Others | 30.0 |
Top 10 States (% of Net Rents)
