Item 2. Properties
Item 2. Properties.
As of December 31, 2020, we wholly-owned 121 properties, comprised of 15.4 million square feet of rentable space in 28 states. Our properties were 95.3% leased with an average remaining lease term of 7.3 years. See Schedule III - Real Estate and Accumulated Depreciation included elsewhere in this Annual Report on Form 10-K for a detailed listing of the properties in our portfolio.
The following table summarizes the lease expirations by year for our properties for leases in place as of December 31, 2020 (dollars in thousands):
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Year of Lease Expiration
Square Feet (1)
Number of Expiring Leases
Lease Revenue for the year ended December 31, 2020 % Expiring
2021 319,461 9 $ 7,098 5.3 %
2022 373,579 6 7,171 5.4 %
2023 1,466,432 15 13,060 9.8 %
2024 1,590,975 9 10,827 8.1 %
2025 653,896 10 14,389 10.8 %
Thereafter 10,280,706 81 73,353 55.1 %
Sold/terminated leases N/A N/A 7,254 5.5 %
14,685,049 130 $ 133,152 100.0 %
(1) Our vacant square footage totaled 722,497 square feet as of December 31, 2020.
N/A - Not Applicable
The following table summarizes the geographic locations of our properties as of December 31, 2020, 2019, and 2018, respectively (dollars in thousands):
State Lease Revenue for the year ended December 31, 2020 % of Lease Revenue Number of Leases for the year ended December 31, 2020 Rentable Square Feet for the year ended December 31, 2020 Lease Revenue for the year ended December 31, 2019 % of Lease Revenue Number of Leases for the year ended December 31, 2019 Rentable Square Feet for the year ended December 31, 2019 Lease Revenue for the year ended December 31, 2018 % of Lease Revenue Number of Leases for the year ended December 31, 2018 Rentable Square Feet for the year ended December 31, 2018
Texas $ 19,021 14.3 % 14 1,474,967 $ 16,436 14.4 % 15 1,388,940 $ 15,852 14.8 % 12 986,294
Florida 16,686 12.5 11 1,038,076 15,268 13.3 11 1,038,076 12,212 11.4 11 705,076
Ohio 14,008 10.5 15 1,094,871 11,016 9.6 16 1,442,990 9,969 9.3 16 1,388,560
Pennsylvania 13,978 10.5 10 2,224,007 13,640 11.9 9 2,068,740 13,626 12.8 9 2,068,740
Georgia 10,360 7.8 9 1,566,986 5,695 5.0 8 1,062,586 4,842 4.5 6 269,555
Utah 7,885 5.9 4 298,478 6,978 6.1 4 298,478 6,923 6.5 3 295,499
Michigan 6,293 4.7 6 973,638 6,035 5.3 6 973,638 4,625 4.3 6 973,638
North Carolina 6,101 4.6 8 944,943 5,666 5.0 7 894,465 6,195 5.8 8 894,465
South Carolina 4,826 3.6 2 424,683 4,638 4.1 2 424,683 4,626 4.3 2 424,683
Minnesota 4,291 3.2 6 281,248 3,790 3.3 6 281,248 3,783 3.5 6 281,248
All Other States 29,703 22.4 45 5,085,649 25,225 22.0 38 4,368,164 24,145 22.8 31 3,439,238
$ 133,152 100.0 % 130 15,407,546 $ 114,387 100.0 % 122 14,242,008 $ 106,798 100.0 % 110 11,726,996
The following table summarizes lease revenue by tenant industries for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands):
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For the year ended December 31,
2020 2019 2018
Industry Classification Lease Revenue Percentage of Lease Revenue Lease Revenue Percentage of Lease Revenue Lease Revenue Percentage of Lease Revenue
Telecommunications $ 22,222 16.9 % $ 19,091 16.7 % $ 16,366 15.4 %
Diversified/Conglomerate Services 16,587 12.5 15,330 13.4 14,440 13.5
Healthcare 16,133 12.1 13,209 11.5 12,944 12.1
Automobile 13,768 10.3 15,115 13.2 12,930 12.1
Banking 10,042 7.5 7,873 6.9 8,322 7.8
Buildings and Real Estate 9,050 6.8 4,102 3.6 4,555 4.3
Information Technology 6,899 5.2 6,154 5.4 6,106 5.7
Personal, Food & Miscellaneous Services 6,323 4.7 5,995 5.2 5,990 5.6
Diversified/Conglomerate Manufacturing 6,268 4.7 5,191 4.5 5,064 4.7
Electronics 4,412 3.3 4,539 4.0 4,289 4.0
Beverage, Food & Tobacco 4,268 3.2 2,811 2.5 1,503 1.4
Machinery 4,191 3.1 2,816 2.5 2,278 2.1
Chemicals, Plastics & Rubber 3,647 2.7 3,124 2.7 2,937 2.8
Personal & Non-Durable Consumer Products 2,450 1.8 2,420 2.1 2,684 2.5
Childcare 2,237 1.7 2,225 1.9 2,224 2.1
Containers, Packaging & Glass 1,972 1.5 2,035 1.8 1,826 1.7
Printing & Publishing 1,377 1.0 1,202 1.1 1,150 1.1
Education 823 0.6 660 0.6 660 0.6
Home & Office Furnishings 483 0.4 495 0.4 530 0.5
Total $ 133,152 100.0 % $ 114,387 100.0 % $ 106,798 100.0 %
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