FRANKLIN STREET PROPERTIES CORP /MA/ 10-K

Item 2. Properties ​ Set forth below is information regarding our properties as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Approx. Percent Approx. ​ ​ Date of ​ Square ​ Leased as ​ Number ​ ​ Property Location ​ Purchase (1) ​ Feet ​ of 12/31/20 ​ of Tenants ​ Major Tenants (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Office ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 600 Forest Point Circle 7/8/99 64,198 78.4 % 2 ​ Willis Towers Watson Southeast Inc. ​ Charlotte, NC 28273 ​ ​ ​ ​ ​ ​ ​ ​ ​ Flexential Corp. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 14151 Park Meadow Drive 3/15/01 138,537 91.1 % 4 American Systems Corporation ​ Chantilly, VA 20151 ​ ​ ​ ​ ​ ​ ​ ​ Booz Allen Hamilton, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1370 & 1390 Timberlake 5/24/01 234,496 100.0 % 3 Centene Management Company, LLC ​ Manor Parkway, ​ ​ ​ ​ ​ ​ ​ ​ Amdocs, Inc. ​ Chesterfield, MO 63017 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 50 Northwest Point Rd. 12/5/01 177,095 100.0 % 2 Citicorp Credit Services, Inc. ​ Elk Grove Village, IL 60005 ​ ​ ​ ​ ​ ​ ​ ​ ​ NCS Pearson, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1350 Timberlake Manor Parkway 3/4/02 117,036 100.0 % 3 Centene Management Company, LLC ​ Chesterfield, MO 63017 ​ ​ ​ ​ ​ ​ ​ ​ Edgewell Personal Care Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16285 Park Ten Place 6/27/02 157,460 71.7 % 7 Penn Virginia Corporation ​ Houston, TX 77084 ​ ​ ​ ​ ​ ​ ​ ​ Blade Energy Partners, Ltd. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 15601 Dallas Parkway 9/30/02 289,325 83.7 % 13 Cyxtera Management Inc. ​ Addison, TX 75001 ​ ​ ​ ​ ​ ​ ​ ​ ​ Compass Production Partners, LP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ WDT Acquisition Corporation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aerotek, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1500 & 1600 N. Greenville Ave. 3/3/03 300,887 83.5 % 6 ARGO Data Resource Corp. ​ Richardson, TX 75081 ​ ​ ​ ​ ​ ​ ​ ​ EMC Corporation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Id Software, LLC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6550 & 6560 Greenwood Plaza 2/24/05 196,236 100.0 % 3 Kaiser Foundation Health Plan ​ Englewood, CO 80111 ​ ​ ​ ​ ​ ​ ​ ​ DirecTV, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3815-3925 River Crossing Pkwy 7/6/05 205,729 100.0 % 12 Somerset CPAs, P.C. ​ Indianapolis, IN 46240 ​ ​ ​ ​ ​ ​ ​ ​ Crowe, LLP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Blackboard, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5055 & 5057 Keller Springs Rd. 2/24/06 216,906 74.1 % 23 See Footnote 3 ​ Addison, TX 75001 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5505 Blue Lagoon Drive (4) 11/6/03 213,182 73.1 % 1 ​ Lennar Homes, LLC ​ Miami, FL 33126 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 19 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Approx. Percent Approx. ​ ​ Date of ​ Square ​ Leased as ​ Number ​ ​ Property Location ​ Purchase (1) ​ Feet ​ of 12/31/20 ​ of Tenants ​ Major Tenants (2) 5600, 5620 & 5640 Cox Road 7/16/03 298,183 57.2 % 5 ChemTreat, Inc. ​ Glen Allen, VA 23060 ​ ​ ​ ​ ​ ​ ​ ​ General Electric Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1293 Eldridge Parkway 1/16/04 248,399 100.0 % 1 CITGO Petroleum Corporation ​ Houston, TX 77077 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 380 Interlocken Crescent 8/15/03 240,359 76.0 % 7 VMWare, Inc. ​ Broomfield, CO 80021 ​ ​ ​ ​ ​ ​ ​ ​ Cooley LLP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sierra Financial Services, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3625 Cumberland Boulevard 6/27/06 387,267 93.9 % 24 Randstad General Partner (US) ​ Atlanta, GA 30339 ​ ​ ​ ​ ​ ​ ​ ​ Gas South LLC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carestream Dental, LLC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 390 Interlocken Crescent 12/21/06 241,512 99.4 % 6 The Vail Corporation ​ Broomfield, CO 80021 ​ ​ ​ ​ ​ ​ ​ ​ ​ AppExtremes, LLC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16290 Katy Freeway 9/28/05 156,746 95.0 % 7 Olin Corporation ​ Houston, TX 77094 ​ ​ ​ ​ ​ ​ ​ ​ Hargrove and Associates, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bluware, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 45925 Horseshoe Drive 12/23/08 136,658 98.9 % 4 Giesecke & Devrient America, Inc. ​ Dulles, VA 20166 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4807 Stonecroft Blvd. (4) 6/26/09 111,469 — % — ​ ​ Chantilly, VA 20151 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 121 South Eighth Street 6/29/10 297,209 92.6 % 47 Schwegman, Lundberg & Woessner ​ Minneapolis, MN 55402 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 801 Marquette Ave. South ​ 6/29/10 129,821 91.8 % 3 ​ Common Grounds Minneapolis I, LLC ​ Minneapolis, MN 55402 ​ ​ ​ ​ ​ ​ ​ ​ ​ Greater Minneapolis Convention & Visitor Association ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deluxe Corporation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5100 & 5160 Tennyson Pkwy 3/10/11 207,049 100.0 % 5 Worldventures Holdings, LLC ​ Plano, TX 75024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ARK-LA-TEX Financial Services, LLC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7500 Dallas Parkway 3/24/11 214,110 56.4 % 7 ADS Alliance Data Systems, Inc. ​ Plano, TX 75024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 909 Davis Street 9/30/11 195,098 93.3 % 9 Houghton Mifflin Co. ​ Evanston, IL 60201 ​ ​ ​ ​ ​ ​ ​ ​ Aptinyx, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Northshore University Healthsystem ​ 20 Table of Contents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Approx. Percent Approx. ​ ​ Date of ​ Square ​ Leased as ​ Number ​ ​ Property Location ​ Purchase (1) ​ Feet ​ of 12/31/20 ​ of Tenants ​ Major Tenants (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ Industrious Evn 909 Davis Street ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One Ravinia Drive 7/31/12 386,602 89.0 % 10 T-Mobile South LLC ​ Atlanta, GA 30346 ​ ​ ​ ​ ​ ​ ​ ​ Cedar Document Technologies, Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Two Ravinia Drive 4/8/15 411,047 69.2 % 38 See Footnote 3 ​ Atlanta, GA 30346 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10370 & 10350 Richmond Ave. 11/1/12 629,025 53.5 % 37 See Footnote 3 ​ Houston, TX 77042 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1999 Broadway 5/22/13 677,539 81.8 % 38 United States Government ​ Denver, CO 80202 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 999 Peachtree Street 7/1/13 621,946 84.5 % 36 Eversheds Sutherland (US) LLP ​ Atlanta, GA 30309 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1001 17th Street 8/28/13 655,420 96.0 % 18 Ovintiv USA Inc. ​ Denver, CO 80202 ​ ​ ​ ​ ​ ​ ​ ​ WPX Energy. Inc. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hall and Evans, LLC ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ping Identity Corp. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 45 South Seventh Street 6/6/16 330,096 88.5 % 26 PricewaterhouseCoopers LLP ​ Minneapolis, MN 55402 ​ ​ ​ ​ ​ ​ ​ ​ Haworth Marketing & Media Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1420 Peachtree Street, NE 8/10/16 160,145 98.9 % 4 Jones Day ​ Atlanta, GA 30309 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 600 17th Street 12/1/16 609,353 88.0 % 42 EOG Resources, Inc. ​ Denver, CO 80202 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Owned Portfolio ​ ​ ​ 9,656,140 ​ 83.8 % ​ ​ ​ ​ (1) Date of purchase or merged entity date of purchase. (2) Major tenants that occupy 10% or more of the space in an individual property. (3) No tenant occupies more than 10% of the space. (4) We define redevelopment properties as properties being developed, redeveloped or where redevelopment is complete, but are in lease-up and that are not stabilized. ​ ​ 21 Table of Contents As of December 31, 2020, we had approximately 0.3 million rentable square feet in our Redevelopment Properties. The following table summarizes these properties: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated ​ Estimated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Incurred ​ Percent ​ Estimated ​ Leased ​ Occupied (in 000's except square feet) ​ ​ ​ ​ ​ ​ ​ Anticipated ​ Through ​ Leased ​ Completion ​ Stabilization ​ Stabilization Property Name City State Square Feet Investment (1) 31-Dec-20 31-Dec-20 Date Date Date ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redevelopment in Process ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Blue Lagoon Drive (2) ​ Miami ​ FL ​ 213,182 ​ ​ 39,900 ​ ​ 20,443 ​ 73.1% ​ 28-Feb-21 ​ 1-Jul-21 ​ 1-Jan-22 Stonecroft ​ Chantilly ​ VA ​ 111,469 ​ ​ 18,462 ​ ​ 1,814 ​ 0.0% ​ 31-Jul-21 ​ 1-Dec-21 ​ 1-Dec-22 Total Office in Process ​ ​ ​ ​ ​ 324,651 ​ ​ 58,362 ​ ​ 22,257 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Anticipated investment includes capitalized redevelopment costs, capitalized interest and lease-up costs. (2) Leased square feet was 155,808 as of December 31, 2020. ​ All of the properties listed above are owned, directly or indirectly, by us. None of our properties are subject to any mortgage loans. We have no other material undeveloped or unimproved properties, or proposed programs for material renovation or development of any of our properties in 2021. We believe that our properties are adequately covered by insurance as of December 31, 2020. ​ ​ 22 Table of Contents The information presented below provides the weighted average GAAP rent per square foot for the year ended December 31, 2020 for our properties and weighted occupancy square feet and percentages. GAAP rent includes the impact of tenant concessions and reimbursements. This table does not include information about properties held by our investments in nonconsolidated REITs or those which we have provided Sponsored REIT Loans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Occupied ​ Weighted ​ ​ ​ ​ ​ ​ Year Built ​ ​ ​ Weighted ​ Percentage as of ​ Average ​ ​ ​ ​ ​ ​ or ​ Net Rentable ​ Occupied ​ December 31, ​ Rent per Occupied Property Name ​ City ​ State ​ Renovated ​ Square Feet ​ Sq. Ft. ​ 2020 (a) ​ Square Feet (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Forest Park ​ Charlotte ​ NC ​ 1999/2020 ​ 64,198 ​ 12,204 ​ 19.0 % $ 21.54 ​ Meadow Point ​ Chantilly ​ VA ​ 1999 ​ 138,537 ​ 102,656 ​ 74.1 % ​ 25.03 ​ Innsbrook ​ Glen Allen ​ VA ​ 1999 ​ 298,183 ​ 170,680 ​ 57.2 % 18.70 ​ Loudoun Tech Center ​ Dulles ​ VA ​ 1999 ​ 136,658 ​ 135,210 ​ 98.9 % 18.64 ​ Stonecroft (c) ​ Chantilly ​ VA ​ 2008 ​ 111,469 ​ — ​ — % — ​ East total ​ ​ ​ ​ ​ ​ ​ 749,0 45 ​ 420,750 ​ 56.2 % 20.31 ​ Northwest Point ​ Elk Grove Village ​ IL ​ 1999 ​ 177,095 ​ 177,095 ​ 100.0 % 28.08 ​ 909 Davis Street ​ Evanston ​ IL ​ 2002 ​ 195,098 ​ 182,104 ​ 93.3 % 41.05 ​ River Crossing ​ Indianapolis ​ IN ​ 1998 ​ 205,729 ​ 202,273 ​ 98.3 % 24.55 ​ Timberlake ​ Chesterfield ​ MO ​ 1999 ​ 234,496 ​ 224,319 ​ 95.7 % 27.65 ​ Timberlake East ​ Chesterfield ​ MO ​ 2000 ​ 117,036 ​ 113,548 ​ 97.0 % 26.59 ​ 121 South 8th Street ​ Minneapolis ​ MN ​ 1974 ​ 297,209 ​ 255,124 ​ 85.8 % 22.31 ​ 801 Marquette Ave ​ Minneapolis ​ MN ​ 1923/2017 ​ 129,821 ​ 48,021 ​ 37.0 % ​ 29.87 ​ Plaza Seven ​ Minneapolis ​ MN ​ 1987 ​ 330,096 ​ 291,442 ​ 88.3 % 33.02 ​ Midwest total ​ ​ ​ ​ ​ ​ ​ 1,686,580 ​ 1,493,926 ​ 88.6 % 29.04 ​ Blue Lagoon Drive (c) ​ Miami ​ FL ​ 2002 ​ 213,182 ​ — ​ — % ​ — ​ One Overton Park ​ Atlanta ​ GA ​ 2002 ​ 387,267 ​ 336,264 ​ 86.8 % 24.02 ​ Park Ten ​ Houston ​ TX ​ 1999 ​ 157,460 ​ 112,962 ​ 71.7 % 27.87 ​ Addison Circle ​ Addison ​ TX ​ 1999 ​ 289,325 ​ 222,809 ​ 77.0 % 33.37 ​ Collins Crossing ​ Richardson ​ TX ​ 1999 ​ 300,887 ​ 243,839 81.0 % ​ 26.81 ​ ​ 23 Table of Contents The following table is continued from the previous page and provides the weighted average GAAP rent per square foot for the year ended December 31, 2020 for our properties and weighted occupancy square feet and percentages. GAAP rent includes the impact of tenant concessions and reimbursements. This table does not include information about properties held by our investments in nonconsolidated REITs or those which we have provided Sponsored REIT Loans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Occupied ​ Weighted ​ ​ ​ ​ ​ ​ Year Built ​ ​ ​ Weighted ​ Percentage as of ​ Average ​ ​ ​ ​ ​ ​ or ​ Net Rentable ​ Occupied ​ December 31, ​ Rent per Occupied Property Name ​ City ​ State ​ Renovated ​ Square Feet ​ Sq. Ft. ​ 2020 (a) ​ Square Feet (b) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Eldridge Green ​ Houston ​ TX ​ 1999 ​ 248,399 ​ 248,399 100.0 % $ 30.06 ​ Park Ten Phase II ​ Houston ​ TX ​ 2006 ​ 156,746 ​ 141,902 90.5 % ​ 28.45 ​ Liberty Plaza ​ Addison ​ TX ​ 1985 ​ 216,906 ​ 157,929 72.8 % ​ 23.07 ​ Legacy Tennyson Center ​ Plano ​ TX ​ 1999/2008 ​ 207,049 ​ 197,835 95.6 % ​ 14.67 ​ One Legacy Circle ​ Plano ​ TX ​ 2008 ​ 214,110 ​ 100,910 47.1 % ​ 37.78 ​ One Ravinia Drive ​ Atlanta ​ GA ​ 1985 ​ 386,602 ​ 334,604 86.6 % ​ 27.47 ​ Two Ravinia Drive ​ Atlanta ​ GA ​ 1987 ​ 411,047 ​ 277,909 67.6 % ​ 27.31 ​ Westchase I & II ​ Houston ​ TX ​ 1983/2008 ​ 629,025 ​ 349,864 55.6 % ​ 28.35 ​ Pershing Park Plaza ​ Atlanta ​ GA ​ 1989 ​ 160,145 ​ 158,447 ​ 98.9 % ​ 34.22 ​ 999 Peachtree ​ Atlanta ​ GA ​ 1987 ​ 621,946 ​ 535,185 86.1 % ​ 33.62 ​ South Total ​ ​ ​ ​ ​ ​ ​ 4,600,096 ​ 3,418,858 74.3 % ​ 28.42 ​ 380 Interlocken ​ Broomfield ​ CO ​ 2000 ​ 240,359 ​ 174,765 72.7 % ​ 33.10 ​ 1999 Broadway ​ Denver ​ CO ​ 1986 ​ 677,539 ​ 537,288 79.3 % ​ 33.20 ​ 1001 17th Street ​ Denver ​ CO ​ 1977/2006 ​ 655,420 ​ 637,265 97.2 % ​ 37.15 ​ 600 17th Street ​ Denver ​ CO ​ 1982 ​ 609,353 ​ 525,567 86.3 % ​ 32.26 ​ Greenwood Plaza ​ Englewood ​ CO ​ 2000 ​ 196,236 ​ 196,236 100.0 % ​ 25.31 ​ 390 Interlocken ​ Broomfield ​ CO ​ 2002 ​ 241,512 ​ 238,445 98.7 % ​ 33.20 ​ West Total ​ ​ ​ ​ ​ ​ ​ 2,620,419 ​ 2,309,566 88.1 % ​ 33.40 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Owned Properties ​ ​ ​ ​ ​ ​ ​ 9,656,140 ​ 7,643,100 ​ 79.2 % $ 29.60 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Based on weighted occupied square feet for the year ended December 31, 2020, including month-to-month tenants, divided by the property’s net rentable square footage. (b) Represents annualized GAAP rental revenue for the year ended December 31, 2020 per weighted occupied square foot. (c) We define redevelopment properties as properties being developed, redeveloped or where redevelopment is complete, but are in lease-up and that are not stabilized. ​ 24 Table of Contents The information presented below is a lease expiration table for ten years and thereafter, stating (i) the number of tenants whose leases will expire, (ii) the total area in square feet covered by such leases, (iii) the annual rental represented by such leases in dollars and by square feet, and (iv) the percentage of gross annual rental represented by such leases. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rentable ​ ​ ​ ​ Annualized ​ Percentage ​ ​ ​ ​ ​ Number of ​ Square ​ ​ ​ ​ Rent ​ of Total ​ ​ ​ Year of ​ Leases ​ Footage ​ Annualized ​ Per Square ​ Annualized ​ ​ ​ Lease ​ Expiring ​ Subject to ​ Rent Under ​ Foot Under ​ Rent Under ​ ​ ​ Expiration ​ Within the ​ Expiring ​ Expiring ​ Expiring ​ Expiring ​ Cumulative ​ December 31, Year (a) Leases Leases (b) Leases Leases Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 69 (c) 738,723 ​ $ 22,498,632 ​ $ 30.46 ​ 9.5 % 9.5 % 2022 ​ 74 ​ 1,067,527 ​ ​ 38,021,879 ​ ​ 35.62 ​ 16.2 % 25.7 % 2023 ​ 65 ​ 450,184 ​ ​ 14,563,689 ​ ​ 32.35 ​ 6.2 % 31.9 % 2024 ​ 61 ​ 839,607 ​ ​ 26,036,049 ​ ​ 31.01 ​ 11.1 % 43.0 % 2025 ​ 57 ​ 867,351 ​ ​ 25,079,346 ​ ​ 28.91 ​ 10.7 % 53.7 % 2026 ​ 38 ​ 752,257 ​ ​ 23,732,491 ​ ​ 31.55 ​ 10.1 % 63.8 % 2027 ​ 19 ​ 698,962 ​ ​ 22,169,871 ​ ​ 31.72 ​ 9.4 % 73.2 % 2028 ​ 19 ​ 450,799 ​ ​ 10,156,201 ​ ​ 22.53 ​ 4.3 % 77.5 % 2029 ​ 12 ​ 405,689 ​ ​ 12,911,391 ​ ​ 31.83 ​ 5.5 % 83.0 % 2030 ​ 10 ​ 893,357 ​ ​ 24,753,582 ​ ​ 27.71 ​ 10.5 % 93.5 % 2031 and thereafter ​ 71 ​ 925,978 (d) ​ 15,325,361 ​ ​ 16.55 ​ 6.5 % 100.0 % Leased total ​ 495 ​ 8,090,434 ​ $ 235,248,492 ​ $ 29.08 ​ 100.0 % ​ ​ Vacancies as of 12/31/20 ​ ​ ​ 1,396,863 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Redevelopment Properties (e) ​ ​ ​ 168,843 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Portfolio Square Footage ​ ​ ​ 9,656,140 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) The number of leases approximates the number of tenants. Tenants with lease maturities in different years are included in annual totals for each lease. Tenants may have multiple leases in the same year. (b) Annualized rent represents the monthly rent charged, including tenant reimbursements, for each lease in effect at December 31, 2020 multiplied by 12. Tenant reimbursements generally include payment of real estate taxes, operating expenses and common area maintenance and utility charges. (c) Includes 2 leases that are month-to-month. (d) Includes 117,089 square feet that are non-revenue producing building amenities. (e) Redevelopment Properties include properties being developed, redeveloped or where redevelopment is complete, but are in lease-up and that are not stabilized. ​ ​