Agree Realty Corporation Reports Second Quarter 2025 Results

About this update from Agree Realty Corporation

[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":254,"url":"https://media.zenfs.com/en/business-wire.com/15914c76d37051ccc8e966910dbd43b7"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/rdv3CZlCsFBnt4pK1WZ37Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUwODtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/15914c76d37051ccc8e966910dbd43b7","width":480,"height":254}},"lazy":false},{"type":"text","content":" Raises 2025 Investment Guidance to $1.4 Billion to $1.6 Billion Increases 2025 AFFO Per Share Guidance to $4.29 to $4.32 ","length":120,"tagName":"p","attribs":{}},{"type":"text","content":" ROYAL OAK, Mich., July 31, 2025 --( BUSINESS WIRE )--Agree Realty Corporation (NYSE: ADC) (the "Company") today announced results for the quarter ended June 30, 2025. All per share amounts included herein are on a diluted per common share basis unless otherwise stated.","length":276,"tagName":"p"},{"type":"text","content":" Second Quarter 2025 Financial and Operating Highlights: ","length":55,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Invested approximately $350 million in 110 retail net lease properties across all three external growth platforms","length":113,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net Income per share attributable to common stockholders decreased 18.5% to $0.43","length":81,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Core Funds from Operations ("Core FFO") per share increased 1.3% to $1.05","length":83,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted Funds from Operations ("AFFO") per share increased 1.7% to $1.06","length":83,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Declared a monthly dividend of $0.256 per common share for June, a 2.4% year-over-year increase","length":95,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Completed a public bond offering of $400 million of 5.60% senior unsecured notes due 2035 with an all-in rate of 5.35% inclusive of prior hedging activity","length":154,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Completed a forward equity offering of 5.2 million shares of common stock, including the underwriters’ option to purchase additional shares, raising anticipated net proceeds of approximately $387 million","length":203,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Balance sheet positioned for growth at 3.1 times proforma net debt to recurring EBITDA; 5.2 times excluding unsettled forward equity","length":132,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Approximately $2.3 billion of liquidity at quarter end including availability on the revolving credit facility, outstanding forward equity, and cash on hand","length":156,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":1100,"olType":false},{"type":"text","content":" First Half 2025 Financial and Operating Highlights: ","length":51,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Invested approximately $727 million in 162 retail net lease properties across all three external growth platforms","length":113,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Committed approximately $140 million to 25 development or Developer Funding Platform ("DFP") projects completed or under construction","length":143,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net Income per share attributable to common stockholders decreased 11.1% to $0.85","length":81,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Core FFO per share increased 2.2% to $2.09","length":42,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"AFFO per share increased 2.4% to $2.12","length":38,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Declared dividends of $1.527 per share, a 2.4% year-over-year increase","length":70,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Raised approximately $603 million of forward equity via the Company's at-the-market equity ("ATM") program and an overnight offering","length":146,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Settled 3.3 million shares of outstanding forward equity for net proceeds of approximately $225 million","length":103,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":736,"olType":false},{"type":"text","content":" Financial Results ","length":17,"tagName":"p"},{"type":"text","content":" Net Income Attributable to Common Stockholders ","length":46,"tagName":"p"},{"type":"text","content":"Net Income for the three months ended June 30, 2025 decreased 10.5% to $47.3 million, compared to $52.9 million for the comparable period in 2024. Net Income per share for the three months ended June 30 th decreased 18.5% to $0.43 compared to $0.52 for the comparable period in 2024.","length":282,"tagName":"p"},{"type":"readMore"},{"type":"text","content":"Net Income for the six months ended June 30, 2025 decreased 3.5% to $92.5 million, compared to $95.9 million for the comparable period in 2024. Net Income per share for the six months ended June 30 th decreased 11.1% to $0.85 compared to $0.95 for the comparable period in 2024.","length":277,"tagName":"p"},{"type":"text","content":" Core FFO ","length":8,"tagName":"p"},{"type":"text","content":"Core FFO for the three months ended June 30, 2025 increased 11.3% to $115.9 million, compared to Core FFO of $104.2 million for the comparable period in 2024. Core FFO per share for the three months ended June 30 th increased 1.3% to $1.05, compared to Core FFO per share of $1.03 for the comparable period in 2024.","length":314,"tagName":"p"},{"type":"text","content":"Core FFO for the six months ended June 30, 2025 increased 10.9% to $228.6 million, compared to Core FFO of $206.2 million for the comparable period in 2024. Core FFO per share for the six months ended June 30 th increased 2.2% to $2.09, compared to Core FFO per share of $2.05 for the comparable period in 2024.","length":310,"tagName":"p"},{"type":"text","content":" AFFO ","length":4,"tagName":"p"},{"type":"text","content":"AFFO for the three months ended June 30, 2025 increased 11.7% to $117.7 million, compared to AFFO of $105.3 million for the comparable period in 2024. AFFO per share for the three months ended June 30 th increased 1.7% to $1.06, compared to AFFO per share of $1.04 for the comparable period in 2024.","length":298,"tagName":"p"},{"type":"text","content":"AFFO for the six months ended June 30, 2025 increased 11.1% to $231.6 million, compared to AFFO of $208.6 million for the comparable period in 2024. AFFO per share for the six months ended June 30 th increased 2.4% to $2.12, compared to AFFO per share of $2.07 for the comparable period in 2024.","length":294,"tagName":"p"},{"type":"text","content":" Dividend ","length":8,"tagName":"p"},{"type":"text","content":"In the second quarter, the Company declared monthly cash dividends of $0.256 per common share for each of April, May and June 2025. The monthly dividends declared during the second quarter reflect an annualized dividend amount of $3.072 per common share, representing a 2.4% increase over the annualized dividend amount of $3.00 per common share from the second quarter of 2024. The dividends represent payout ratios of approximately 73% of Core FFO per share and 72% of AFFO per share, respectively.","length":500,"tagName":"p"},{"type":"text","content":"For the six months ended June 30, 2025, the Company declared monthly cash dividends totaling $1.527 per common share, a 2.4% increase over the dividends of $1.491 per common share declared for the comparable period in 2024. The dividends represent payout ratios of approximately 73% of Core FFO per share and 72% of AFFO per share, respectively.","length":345,"tagName":"p"},{"type":"text","content":"Subsequent to quarter end, the Company declared a monthly cash dividend of $0.256 per common share for July 2025. The July monthly dividend reflects an annualized dividend amount of $3.072 per common share, representing a 2.4% increase over the annualized dividend amount of $3.00 per common share from the third quarter of 2024. The July dividend is payable on August 14, 2025 to stockholders of record at the close of business on July 31, 2025.","length":446,"tagName":"p"},{"type":"text","content":"Additionally, subsequent to quarter end, the Company declared a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, which is equivalent to $1.0625 per annum. The dividend is payable on August 1, 2025 to stockholders of record at the close of business on July 22, 2025.","length":332,"tagName":"p"},{"type":"text","content":" Earnings Guidance ","length":17,"tagName":"p"},{"type":"text","content":"The table below provides estimates for significant components of our 2025 earnings guidance. In addition, the AFFO per share guidance range includes an estimate for the dilutive impact of the Company's outstanding forward equity calculated in accordance with the treasury stock method.","length":289,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:68%;","val":[]},{"colspan":"2","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;","val":[{"type":"text","content":" Prior 2025 Guidance (1) ","length":22,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"border-bottom:solid black 1.0pt;padding-left:0.0px;width:15%;vertical-align:bottom;","val":[{"type":"text","content":" Revised 2025 Guidance ","length":21,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:68%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"2","rowspan":"1","style":"padding-left:0.0px;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:15%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:68%;","val":[{"type":"text","content":"AFFO per share (2) ","length":17,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:15%;","val":[{"type":"text","content":"$4.27 to $4.30","length":14,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:15%;","val":[{"type":"text","content":"$4.29 to $4.32","length":14,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:68%;","val":[{"type":"text","content":"General and administrative expenses (% of adjusted revenue) (3) ","length":62,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:15%;","val":[{"type":"text","content":"5.6% to 5.9%","length":12,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:15%;","val":[{"type":"text","content":"5.6% to 5.9%","length":12,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:68%;","val":[{"type":"text","content":"Non-reimbursable real estate expenses (% of adjusted revenue) (3) ","length":64,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:15%;","val":[{"type":"text","content":"1.0% to 1.5%","length":12,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:15%;","val":[{"type":"text","content":"1.0% to 1.5%","length":12,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:68%;","val":[{"type":"text","content":"Income and other tax expense","length":28,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:15%;","val":[{"type":"text","content":"$3 to $4 million","length":16,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:15%;","val":[{"type":"text","content":"$2.5 to $3 million","length":18,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:68%;","val":[{"type":"text","content":"Investment volume","length":17,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:15%;","val":[{"type":"text","content":"$1.3 to $1.5 billion","length":20,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:15%;","val":[{"type":"text","content":"$1.4 to $1.6 billion","length":20,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:68%;","val":[{"type":"text","content":"Disposition volume","length":18,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:15%;","val":[{"type":"text","content":"$10 to $50 million","length":18,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:15%;","val":[{"type":"text","content":"$10 to $50 million","length":18,"tagName":"p","attribs":{}}]}]}],"length":489},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","val":[]},{"colspan":"1","rowspan":"1","val":[]},{"colspan":"1","rowspan":"1","val":[{"type":"text","content":" The Company’s 2025 guidance is subject to risks and uncertainties more fully described in this press release and in the Company’s filings with the Securities and Exchange Commission (the "SEC"). ","length":204,"tagName":"p"}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;","val":[{"type":"text","content":" (1) ","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;","val":[{"type":"text","content":" As issued on April 22, 2025. ","length":28,"tagName":"p"}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;","val":[{"type":"text","content":" (2) ","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;","val":[{"type":"text","content":" The Company does not provide guidance with respect to the most directly comparable GAAP financial measure or provide reconciliations to GAAP from its forward-looking non-GAAP financial measure of AFFO per share guidance due to the inherent difficulty of forecasting the effect, timing and significance of certain amounts in the reconciliation that would be required by Item 10(e)(1)(i)(B) of Regulation S-K. Examples of these amounts include impairments of assets, gains and losses from sales of assets, and depreciation and amortization from new acquisitions or developments. In addition, certain non-recurring items may also significantly affect net income but are generally adjusted for in AFFO. Based on our historical experience, the dollar amounts of these items could be significant and could have a material impact on the Company’s GAAP results for the guidance period. ","length":877,"tagName":"p"}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;","val":[{"type":"text","content":" (3) ","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;","val":[{"type":"text","content":" Adjusted revenue excludes the impact of the amortization of above and below market lease intangibles. ","length":101,"tagName":"p"}]}]}],"length":1219},{"type":"text","content":" CEO Comments ","length":12,"tagName":"p"},{"type":"text","content":""We are very pleased with our strong performance during the first half of the year," said Joey Agree, President and Chief Executive Officer. "During the quarter, we strategically raised over $800 million of debt and equity capital, bolstering our fortress balance sheet which now has $2.3 billion of liquidity. Given the continued strong performance of our portfolio, our fully funded balance sheet, and increasing activity across all three external growth platforms, we are increasing full-year 2025 investment guidance to a range of $1.4 billion to $1.6 billion and raising 2025 AFFO per share guidance to a range of $4.29 to $4.32."","length":655,"tagName":"p"},{"type":"text","content":" Portfolio Update ","length":16,"tagName":"p"},{"type":"text","content":"As of June 30, 2025, the Company’s portfolio consisted of 2,513 properties located in all 50 states and contained approximately 52.0 million square feet of gross leasable area. At quarter end, the portfolio was approximately 99.6% leased, had a weighted-average remaining lease term of approximately 8.0 years, and generated 67.8% of annualized base rents from investment grade retail tenants.","length":393,"tagName":"p"},{"type":"text","content":" Ground Lease Portfolio ","length":22,"tagName":"p"},{"type":"text","content":"During the second quarter, the Company acquired one ground lease for an aggregate purchase price of approximately $3.8 million, representing 1.0% of annualized base rents acquired.","length":180,"tagName":"p"},{"type":"text","content":"As of June 30, 2025, the Company’s ground lease portfolio consisted of 232 leases located in 37 states and totaled approximately 6.4 million square feet of gross leasable area. Properties ground leased to tenants represented 10.3% of annualized base rents.","length":256,"tagName":"p"},{"type":"text","content":"At quarter end, the ground lease portfolio was fully occupied, had a weighted-average remaining lease term of approximately 9.4 years, and generated 88.1% of annualized base rents from investment grade retail tenants.","length":217,"tagName":"p"},{"type":"text","content":" Acquisitions ","length":12,"tagName":"p"},{"type":"text","content":"Total acquisition volume for the second quarter was approximately $327.5 million and included 91 properties net leased to leading retailers operating in sectors including auto parts, general merchandise, grocery stores, off-price, farm and rural supply, crafts and novelties, and tire and auto service. The properties are located in 29 states and leased to tenants operating in 21 sectors.","length":389,"tagName":"p"},{"type":"text","content":"The properties were acquired at a weighted-average capitalization rate of 7.1% and had a weighted-average remaining lease term of approximately 12.2 years. Approximately 53.3% of annualized base rents acquired were generated from investment grade retail tenants.","length":262,"tagName":"p"},{"type":"text","content":"For the six months ended June 30, 2025, total acquisition volume was approximately $686.4 million. The 137 acquired properties are located in 36 states and leased to tenants who operate in 25 retail sectors. The properties were acquired at a weighted-average capitalization rate of 7.2% and had a weighted-average remaining lease term of approximately 12.8 years. Approximately 61.4% of annualized base rents were generated from investment grade retail tenants.","length":461,"tagName":"p"},{"type":"text","content":" Dispositions ","length":12,"tagName":"p"},{"type":"text","content":"During the second quarter, the Company sold four properties for gross proceeds of approximately $6.2 million. During the six months ended June 30, 2025, the Company sold five properties for gross proceeds of approximately $8.7 million.","length":235,"tagName":"p"},{"type":"text","content":"The Company anticipates disposition volume for the full year 2025 to be between $10 million and $50 million.","length":108,"tagName":"p"},{"type":"text","content":" Development and Developer Funding Platform ","length":42,"tagName":"p"},{"type":"text","content":"During the second quarter, the Company commenced one development or DFP project, with total anticipated costs of approximately $8.6 million. Construction continued during the quarter on 14 projects with anticipated costs totaling approximately $90.4 million. The Company completed four projects during the quarter with total costs of approximately $13.4 million.","length":362,"tagName":"p"},{"type":"text","content":"For the six months ended June 30, 2025, the Company had 25 development or DFP projects completed or under construction with anticipated total costs of approximately $139.6 million. The projects are leased to leading retailers including TJX Companies, Burlington, 7-Eleven, Boot Barn, Starbucks, Gerber Collision, and Sunbelt Rentals.","length":333,"tagName":"p"},{"type":"text","content":"The following table presents estimated costs for the Company's active or completed development and DFP projects for the six months ended June 30, 2025:","length":155,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:28%;","val":[{"type":"text","content":" Quarter of Delivery ","length":19,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:16%;","val":[{"type":"text","content":" Number of Projects ","length":18,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:16%;","val":[{"type":"text","content":" Costs Funded to Date ","length":20,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:16%;","val":[{"type":"text","content":" Remaining Funding Costs ","length":23,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:16%;","val":[{"type":"text","content":" Anticipated Total Project Costs ","length":31,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:28%;","val":[{"type":"text","content":"Q1 2025","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"6","length":1,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"$27,234","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"$ -","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"$27,234","length":7,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:28%;","val":[{"type":"text","content":"Q2 2025","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"4","length":1,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"13,403","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"-","length":1,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"13,403","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:28%;","val":[{"type":"text","content":"Q3 2025","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"7","length":1,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"33,332","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"15,199","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"48,531","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:28%;","val":[{"type":"text","content":"Q4 2025","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"5","length":1,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"17,776","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"12,557","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"30,333","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:28%;","val":[{"type":"text","content":"Q1 2026","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"1","length":1,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"1,934","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"11,847","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"13,781","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:28%;","val":[{"type":"text","content":"Q2 2026","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"1","length":1,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"1,523","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"1,127","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"2,650","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:28%;","val":[{"type":"text","content":"Q4 2026","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;padding-bottom:4.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"1","length":1,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;padding-bottom:4.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"2,473","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;padding-bottom:4.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"1,227","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;padding-bottom:4.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":"3,700","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:28%;","val":[{"type":"text","content":" Total ","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" 25 ","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" $97,675 ","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" $41,957 ","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:16%;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" $139,632 ","length":8,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"9","rowspan":"1","style":"padding-left:0.0px;","val":[{"type":"text","content":" Development and DFP project costs are in thousands; any differences are the result of rounding. Costs Funded to Date may include adjustments related to completed projects to arrive at the correct Anticipated Total Project Costs. ","length":228,"tagName":"p","attribs":{}}]}]}],"length":723},{"type":"text","content":" Leasing Activity and Expirations ","length":32,"tagName":"p"},{"type":"text","content":"During the second quarter, the Company executed new leases, extensions or options on approximately 948,000 square feet of gross leasable area throughout the existing portfolio. Notable new leases, extensions or options included a 218,000-square foot Walmart Supercenter in Franklin, Ohio, a 58,000-square foot Best Buy in Palmdale, California, and five geographically diverse leases with TJX Companies comprising over 125,000-square feet.","length":438,"tagName":"p"},{"type":"text","content":"For the six months ended June 30, 2025, the Company executed new leases, extensions or options on approximately 1.5 million square feet of gross leasable area throughout the existing portfolio.","length":193,"tagName":"p"},{"type":"text","content":"As of June 30, 2025, the Company’s 2025 lease maturities represented 0.4% of annualized base rents. The following table presents contractual lease expirations within the Company’s portfolio as of June 30, 2025, assuming no tenants exercise renewal options:","length":256,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:32%;","val":[{"type":"text","content":" Year ","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:12%;","val":[{"type":"text","content":" Leases ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:12%;","val":[{"type":"text","content":" Annualized Base Rent (1) ","length":24,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:12%;","val":[{"type":"text","content":" Percent of Annualized Base Rent ","length":31,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:12%;","val":[{"type":"text","content":" Gross ","length":5,"tagName":"p","attribs":{}},{"type":"text","content":" Leasable Area ","length":13,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:12%;","val":[{"type":"text","content":" Percent of Gross Leasable Area ","length":30,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:32%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:12%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:12%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:12%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:12%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:12%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2025","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"16","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"$2,601","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"0.4%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"230","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"0.4%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2026","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"91","length":2,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"19,751","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"2.9%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"2,057","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"4.0%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2027","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"165","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"37,322","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"5.5%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"3,489","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"6.7%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2028","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"177","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"46,400","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"6.9%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"4,057","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"7.8%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2029","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"210","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"66,393","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"9.8%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"6,268","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"12.1%","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2030","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"323","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"69,766","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"10.3%","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"5,819","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"11.2%","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2031","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"210","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"51,540","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"7.6%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"3,845","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"7.4%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2032","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"243","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"50,883","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"7.5%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"3,679","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"7.1%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2033","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"220","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"50,298","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"7.5%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"3,935","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"7.6%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:32%;text-align:left;","val":[{"type":"text","content":"2034","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"216","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"49,913","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"7.4%","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"3,339","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:12%;","val":[{"type":"text","content":"6.4%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:32%;","val":[{"type":"text","content":"Thereafter","length":10,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;border-bottom:solid black 1.0pt;padding-right:0.0px;padding-bottom:4.0px;width:12%;","val":[{"type":"text","content":"833","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;border-bottom:solid black 1.0pt;padding-right:0.0px;padding-bottom:4.0px;width:12%;","val":[{"type":"text","content":"229,674","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;border-bottom:solid black 1.0pt;padding-right:0.0px;padding-bottom:4.0px;width:12%;","val":[{"type":"text","content":"34.2%","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;border-bottom:solid black 1.0pt;padding-right:0.0px;padding-bottom:4.0px;width:12%;","val":[{"type":"text","content":"15,056","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;border-bottom:solid black 1.0pt;padding-right:0.0px;padding-bottom:4.0px;width:12%;","val":[{"type":"text","content":"29.3%","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;width:32%;padding-left:15.0px;","val":[{"type":"text","content":" Total Portfolio ","length":15,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:double black 2.25pt;padding-left:0.0px;padding-right:0.0px;","val":[{"type":"text","content":" 2,704 ","length":5,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:double black 2.25pt;padding-left:0.0px;padding-right:0.0px;","val":[{"type":"text","content":" $674,541 ","length":8,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:double black 2.25pt;padding-left:0.0px;padding-right:0.0px;","val":[{"type":"text","content":" 100.0% ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:double black 2.25pt;padding-left:0.0px;padding-right:0.0px;","val":[{"type":"text","content":" 51,774 ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:double black 2.25pt;padding-left:0.0px;padding-right:0.0px;","val":[{"type":"text","content":" 100.0% ","length":6,"tagName":"p","attribs":{}}]}]}],"length":718},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","val":[]},{"colspan":"1","rowspan":"1","val":[]},{"colspan":"3","rowspan":"1","style":"padding-left:0.0px;","val":[{"type":"text","content":" The contractual lease expirations presented above exclude the effect of replacement tenant leases that had been executed as of June 30, 2025, but that had not yet commenced. Annualized Base Rent and gross leasable area (square feet) are in thousands; any differences are the result of rounding. ","length":294,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;","val":[{"type":"text","content":" (1) ","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","val":[]},{"colspan":"3","rowspan":"1","style":"padding-left:0.0px;padding-right:0.0px;vertical-align:bottom;","val":[{"type":"text","content":" Annualized Base Rent represents the annualized amount of contractual minimum rent required by tenant lease agreements as of June 30, 2025, computed on a straight-line basis. Annualized Base Rent is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles ("GAAP"). The Company believes annualized contractual minimum rent is useful to management, investors, and other interested parties in analyzing concentrations and leasing activity. ","length":496,"tagName":"p"}]}]}],"length":793},{"type":"text","content":" Top Tenants ","length":11,"tagName":"p"},{"type":"text","content":"The Company added Genuine Parts Company (NAPA Auto Parts) to its top tenants during the second quarter of 2025. The following table presents annualized base rents for all tenants that represent 1.5% or greater of the Company’s total annualized base rent as of June 30, 2025:","length":274,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:66%;","val":[{"type":"text","content":" Tenant ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:15%;","val":[{"type":"text","content":" Annualized Base Rent (1) ","length":23,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:15%;","val":[{"type":"text","content":" Percent of ","length":10,"tagName":"p","attribs":{}},{"type":"text","content":" Annualized Base Rent ","length":20,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:66%;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:15%;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:15%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Walmart","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"$40,287","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"6.0%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Tractor Supply","length":14,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"32,580","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"4.8%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Dollar General","length":14,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"28,437","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"4.2%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Best Buy","length":8,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"21,721","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"3.2%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"O'Reilly Auto Parts","length":23,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"20,724","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"3.1%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Kroger","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"20,534","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"3.0%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"TJX Companies","length":13,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"20,068","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"3.0%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"CVS","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"20,027","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"3.0%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Hobby Lobby","length":11,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"19,097","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"2.8%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Dollar Tree","length":11,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"18,618","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"2.8%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Lowe's","length":10,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"17,884","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"2.7%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Gerber Collision","length":16,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"15,386","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"2.3%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Sunbelt Rentals","length":15,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"15,321","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"2.3%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"7-Eleven","length":8,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"14,690","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"2.2%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Burlington","length":10,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"14,653","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"2.2%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Sherwin-Williams","length":16,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"12,439","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"1.8%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Home Depot","length":10,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"11,384","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"1.7%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":" Genuine Parts Company (NAPA Auto Parts) ","length":39,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":" 11,144 ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":" 1.7% ","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Wawa","length":4,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"10,410","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"1.5%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Other (2) ","length":8,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;border-bottom:solid black 1.0pt;padding-right:0.0px;padding-bottom:4.0px;width:15%;","val":[{"type":"text","content":"309,137","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;border-bottom:solid black 1.0pt;padding-right:0.0px;padding-bottom:4.0px;width:15%;","val":[{"type":"text","content":"45.7%","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;width:66%;padding-left:15.0px;","val":[{"type":"text","content":" Total Portfolio ","length":15,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:double black 2.25pt;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;","val":[{"type":"text","content":" $674,541 ","length":8,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:double black 2.25pt;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;","val":[{"type":"text","content":" 100.0% ","length":6,"tagName":"p","attribs":{}}]}]}],"length":699},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"3","rowspan":"1","style":"padding-left:0.0px;","val":[{"type":"text","content":" Annualized Base Rent is in thousands; any differences are the result of rounding. ","length":81,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"3","rowspan":"1","style":"padding-left:0.0px;","val":[{"type":"text","content":" Bolded and italicized tenants represent additions for the three months ended June 30, 2025. ","length":91,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;padding-right:0.0px;width:1%;vertical-align:top;","val":[{"type":"text","content":" (1) ","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:1%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:98%;","val":[{"type":"text","content":" Refer to footnote 1 on page 6 for the Company’s definition of Annualized Base Rent. ","length":83,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;padding-right:0.0px;width:1%;vertical-align:top;","val":[{"type":"text","content":" (2) ","length":3,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:1%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:98%;","val":[{"type":"text","content":" Includes tenants generating less than 1.5% of Annualized Base Rent. ","length":67,"tagName":"p","attribs":{}}]}]}],"length":328},{"type":"text","content":" Retail Sectors ","length":14,"tagName":"p"},{"type":"text","content":"The following table presents annualized base rents for all the Company’s retail sectors as of June 30, 2025:","length":108,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:66%;","val":[{"type":"text","content":" Sector ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:15%;","val":[{"type":"text","content":" Annualized Base Rent (1) ","length":24,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;width:15%;","val":[{"type":"text","content":" Percent of Annualized Base Rent ","length":31,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:66%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:15%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:15%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Grocery Stores","length":14,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"$71,484","length":7,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"10.6%","length":5,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Home Improvement","length":16,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"59,248","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"8.8%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Tire and Auto Service","length":21,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"51,757","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"7.7%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"padding-left:0.0px;width:66%;","val":[{"type":"text","content":"Convenience Stores","length":18,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"51,271","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:2%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;padding-right:0.0px;width:15%;","val":[{"type":"text","content":"7.6%","length":4,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"background-color:#CCEEFF;padding-left:0.0px;width:66%;","val":[{"type":"text","content":"...

View stock analysis, news, and events for Agree Realty Corporation