−Removed: As of December 31, 2021, we owned the following 103 properties, which had a weighted-average remaining lease term of approximately 16.6 years:
−Removed: Rentable Square
−Removed: Investment (2)
−Removed: (In thousands)
+Added: As of December 31, 2022, we owned the following 110 properties, of which 108 properties were leased with a weighted-average remaining lease term of approximately 15.3 years:
+Added: Rentable Square Feet
+Added: Invested/Committed Capital (in thousands)
+Added: Under Development
+Added: Property Type (1)
+Added: or Redevelopment
+Added: East Cherry Street
+Added: April 27, 2022
+Added: West Greenhouse Drive
December 15, 2017
−Removed: Pharm AZ Retail
−Removed: September 19, 2019
−Removed: July 23, 2019
−Removed: Gold Flora CA
+Added: 64125 19th Avenue
October 15, 2021
−Removed: Kings Garden CA Portfolio
−Removed: Sacramento CA
+Added: McLane Street
+Added: 63795 19th Avenue
+Added: April 16, 2019
+Added: North Anza Road
+Added: April 16, 2019
+Added: North Anza Road & Del Sol Road
+Added: April 16, 2019
+Added: 1804 Needles Highway
+Added: August 29, 2019
+Added: West Broadway
+Added: August 29, 2019
+Added: 3253 Needles Highway
+Added: August 29, 2019
+Added: 3241 & 3247 Needles Highway
+Added: September 11, 2019
February 8, 2019
−Removed: Vertical CA Portfolio
−Removed: Columbia Care CO
+Added: Steele Street
October 30, 2018
−Removed: LivWell CO Retail Portfolio
−Removed: Parallel FL Portfolio
−Removed: Trulieve FL Portfolio
−Removed: August 3, 2021
+Added: Washington Street
December 14, 2021
−Removed: Cresco IL Portfolio
+Added: West Barberry Place
+Added: December 14, 2021
+Added: Hamilton Road
+Added: September 18, 2020
+Added: West Lake Drive
+Added: March 11, 2020
+Added: NW Highway 441
+Added: January 22, 2021
+Added: Ben Bostic Road
October 23, 2019
+Added: East Mazon Avenue
October 30, 2019
+Added: Revolution Road
+Added: December 21, 2018
+Added: East 4th Street
March 6, 2020
−Removed: PharmaCann IL
+Added: Industrial Drive
October 30, 2019
+Added: S US Highway 45 52
+Added: October 22, 2019
+Added: Centerpoint Way
+Added: October 22, 2019
August 3, 2021
+Added: August 13, 2021
+Added: Alaking Court
+Added: Western Maryland Parkway
+Added: April 13, 2022
+Added: Hopping Brook Road
Massachusetts
−Removed: December 17, 2020
+Added: Chestnut Hill Avenue
Massachusetts
April 2, 2020
+Added: Worcester Road
Massachusetts
−Removed: June 30, 2020
+Added: September 1, 2022
+Added: Canal Street/7 North Bridge Street
Massachusetts
July 26, 2019
−Removed: PharmaCann MA
Massachusetts
+Added: July 12, 2018
+Added: Everett Street
Massachusetts
+Added: January 28, 2022
+Added: East Main Street
Massachusetts
−Removed: July 26, 2019
+Added: December 17, 2020
+Added: Curran Highway
+Added: Massachusetts
+Added: October 9, 2019
+Added: East Hazel Street
April 22, 2020
−Removed: Emerald Growth MI
−Removed: Green Peak MI Portfolio
−Removed: Green Peak MI Retail Portfolio
−Removed: September 1, 2020
+Added: Davis Highway
+Added: April 16, 2021
+Added: August 2, 2018
+Added: Executive Drive
+Added: 77th Street Northeast
November 8, 2017
+Added: Industrial Drive
September 17, 2021
+Added: East Cheyenne Avenue
July 12, 2019
−Removed: Columbia Care NJ Portfolio
+Added: Munsonhurst Road
+Added: February 10, 2022
+Added: South Route 73
July 13, 2020
+Added: North West Blvd
July 16, 2020
−Removed: PharmaCann NY
+Added: Hudson Crossing Drive
December 19, 2016
+Added: County Route 117
+Added: October 23, 2017
+Added: 98th Ave South
December 20, 2019
+Added: Hunts Landing Road
+Added: March 13, 2019
January 31, 2020
January 24, 2020
−Removed: PharmaCann OH
−Removed: March 13, 2019
−Removed: December 20, 2019
−Removed: Columbia Care PA
+Added: East Tallmadge Ave.
+Added: Scott Technology Park
+Added: August 7, 2019
+Added: New Beaver Avenue
+Added: East Market Street
November 12, 2019
+Added: December 20, 2019
+Added: Industrial Street
June 10, 2020
−Removed: April 6, 2018
+Added: Rosanna Avenue
April 6, 2018
−Removed: PharmaCann PA
−Removed: August 9, 2019
+Added: June 14, 2022
+Added: Decatur Street
+Added: January 15, 2020
+Added: Lathrop Industrial Drive SW
+Added: December 17, 2020
+Added: East Glendale Avenue
+Added: September 19, 2019
+Added: Dahlia Street
+Added: February 21, 2020
+Added: East Colfax Avenue
+Added: December 14, 2021
+Added: North 2nd Street
+Added: December 14, 2021
+Added: West Railroad Avenue
+Added: December 14, 2021
+Added: February 19, 2020
+Added: Wewatta Street
+Added: December 14, 2021
+Added: Southgate Place
+Added: December 14, 2021
+Added: South Peoria Court
+Added: December 14, 2021
+Added: Highway 6 & 24
+Added: December 14, 2021
+Added: North College Avenue
+Added: December 14, 2021
+Added: East Quincy Avenue
+Added: December 14, 2021
+Added: East Montview Boulevard
+Added: December 14, 2021
+Added: South Federal Blvd
+Added: December 14, 2021
+Added: Santa Fe Trail
+Added: December 14, 2021
+Added: December 14, 2021
+Added: Gregory Street
+Added: December 14, 2021
+Added: West 20th Avenue
+Added: December 14, 2021
+Added: South Federal Blvd.
+Added: December 14, 2021
+Added: West 6th Street
+Added: December 14, 2021
+Added: December 14, 2021
+Added: Bent Avenue North
+Added: December 14, 2021
+Added: October 25, 2019
+Added: South Cedar Street
+Added: November 4, 2019
+Added: West Pierson Road
+Added: November 4, 2019
+Added: November 4, 2019
+Added: East Front Street
+Added: November 25, 2019
+Added: South Mason Drive
+Added: November 8, 2019
+Added: July 16, 2020
+Added: 24th Street East
+Added: December 14, 2021
+Added: Highway 2 East
+Added: December 14, 2021
+Added: December 14, 2021
+Added: South 17th Street
March 23, 2022
−Removed: CO/PA/ND Portfolio
+Added: Esperanza Street
+Added: Industrial/Retail
+Added: July 23, 2019
+Added: Industrial/Retail
December 14, 2021
−Removed: Columbia Care VA
−Removed: January 15, 2020
+Added: US 50 Business and Baxter Road
+Added: Industrial/Retail
December 14, 2021
−Removed: (1) Includes estimated rentable square feet at completion of construction.
−Removed: (2) Includes purchase price and development and improvement allowances commitments funded, if any.
−Removed: Excludes transaction costs and development and improvement allowance not funded as of December 31, 2021.
−Removed: (3) In January 2021, the property was leased to a new tenant.
−Removed: Excludes remaining improvement allowance of approximately $10.1 million.
−Removed: (4) Excludes remaining improvement allowance of approximately $5.3 million.
−Removed: (5) Portfolio consists of four properties acquired on April 16, 2019, one property acquired on May 12, 2020, and one property acquired on November 16, 2020.
−Removed: Excludes remaining aggregate improvement allowances at certain properties totaling approximately $65.0 million.
−Removed: (6) Portfolio consists of three properties acquired on August 29, 2019 and one property acquired on September 11, 2019.
−Removed: (7) Portfolio consists of one property acquired on February 19, 2020 and one property acquired on February 21, 2020.
−Removed: Excludes remaining improvement allowance of approximately $801,000.
−Removed: (8) Portfolio consists of one property acquired on March 11, 2020 and one property acquired on September 18, 2020.
−Removed: Excludes remaining aggregate improvement allowances totaling approximately $3.6 million.
−Removed: (9) Trulieve Cannabis Corp.
−Removed: (“Trulieve”) acquired Harvest Health & Recreation Inc.
−Removed: (“Harvest”) in 2021.
−Removed: Portfolio consists of one property acquired on October 23, 2019 and one property acquired on January 22, 2021.
−Removed: Excludes remaining improvement allowance of approximately $2.6 million.
−Removed: (10) Excludes remaining improvement allowance of approximately $41.9 million.
−Removed: (11) Excludes remaining improvement allowance of approximately $2.5 million.
−Removed: (12) Portfolio consists of two properties and excludes remaining improvement allowance of approximately $198,000.
−Removed: (13) Trulieve acquired Harvest in 2021.
−Removed: Excludes remaining improvement allowance of approximately $7.2 million.
−Removed: (14) Excludes remaining improvement allowance of approximately $1.7 million.
−Removed: (15) Excludes remaining improvement allowance of approximately $6.1 million.
−Removed: (16) Excludes remaining improvement allowance of approximately $658,000.
−Removed: (17) Excludes remaining improvement allowance of approximately $19.9 million.
−Removed: (18) Portfolio consists of one property acquired on August 2, 2018 and one property acquired on April 16, 2021.
−Removed: Excludes remaining improvement allowance of approximately $22.9 million.
−Removed: (19) Portfolio consists of one property acquired on October 25, 2019, three properties acquired on November 4, 2019, one property acquired on November 8, 2019 and one property acquired on November 25, 2019.
−Removed: Excludes remaining improvement allowance of approximately $28,000.
−Removed: (20) Original property was acquired on October 9, 2019 and the central utility plant facilities were acquired on December 9, 2021.
−Removed: Excludes remaining improvement allowance of $550,000.
−Removed: (21) Excludes remaining improvement allowance of approximately $374,000.
−Removed: (22) Excludes remaining improvement allowance of approximately $19.6 million.
−Removed: (23) Excludes remaining improvement allowance of approximately $29.0 million.
−Removed: (24) Original property was acquired on October 23, 2017 and additional land adjacent to the property was acquired on September 24, 2021.
−Removed: Excludes remaining improvement allowance of approximately $34.1 million.
−Removed: (25) Excludes remaining improvement allowance of approximately $1.1 million.
−Removed: (26) Excludes remaining improvement allowance of approximately $2.4 million.
−Removed: (27) Columbia Care, Inc.
−Removed: (“Columbia Care”) acquired Green Leaf Medical, LLC (“Green Leaf”) in 2021.
−Removed: Excludes remaining improvement allowance of approximately $1.8 million.
−Removed: (28) Excludes remaining improvement allowance of approximately $13.3 million.
−Removed: (29) Excludes remaining improvement allowance of approximately $1.7 million.
−Removed: (30) Excludes remaining improvement allowance of approximately $20.4 million.
−Removed: (31) Portfolio consists of 27 properties leased to multiple tenants with 24 properties located in Colorado, two properties located in North Dakota, and one property located in Pennsylvania.
−Removed: Excludes remaining improvement allowance at certain properties totaling approximately $1.1 million.
−Removed: (32) Columbia Care acquired Green Leaf in 2021.
+Added: South Fox Street
+Added: Industrial/Retail
+Added: December 14, 2021
+Added: Industrial/Retail
+Added: Massachusetts
+Added: June 30, 2020
+Added: Mozzone Boulevard
+Added: Industrial/Retail
+Added: Massachusetts
+Added: Stephenson Highway
+Added: Industrial/Retail
+Added: September 1, 2020
+Added: Industrial/Retail
+Added: Industrial/Retail
+Added: March 10, 2021
+Added: Inland Center Drive
+Added: Under Development
+Added: November 16, 2020
+Added: Under Development
+Added: March 25, 2022
+Added: 63795 19th Avenue Expansion
+Added: Under Development
+Added: February 5, 2021
+Added: (1) “Industrial” reflects facilities utilized or expected to be utilized for regulated cannabis cultivation and/or distribution activities, which can consist of industrial and/or greenhouse space.
+Added: (2) The purchase price included approximately $3.2 million attributable to the property which did not satisfy the requirements for sale-leaseback accounting;
+Added: therefore, this amount is recognized as a financing note receivable and is included in other assets, net on our consolidated balance sheet.
+Added: (3) The acquisition of the property did not satisfy the requirements for sale-leaseback accounting;
+Added: therefore, this amount is recognized as a financing note receivable and is included in other assets, net on our consolidated balance sheet.
+Added: (4) The purchase price included approximately $908,000 attributable to the property which did not satisfy the requirements for sale-leaseback accounting;
+Added: therefore, this amount is recognized as a financing note receivable and is included in other assets, net on our consolidated balance sheet.
+Added: (5) Represents parcel under development that is part of the lease with Kings Garden at the 19th Avenue property.
See Item 1., “Business — Our Properties,” for more information about our properties.
+Added: In November 2022, we sold one of our Pennsylvania properties that was leased to a subsidiary of Maitri for $23.5 million (approximately $461 per square foot), excluding transaction costs, and recognized a gain on sale of property of approximately $3.6 million.
+Added: LEGAL PROCEEDINGS
+Added: For a description of our legal proceedings, see Note 11 “Commitments and Contingencies — Litigation” to our consolidated financial statements, which is hereby incorporated by reference.
+Added: MINE SAFETY DISCLOSURES
+Added: Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.