Industrial Logistics Properties Trust 10-K

Item 2. Properties As of December 31, 2020, our portfolio was comprised of 289 wholly owned properties located in 31 states containing approximately 34.9 million rentable square feet, including 226 buildings, leasable land parcels and easements located on the island of Oahu, HI containing approximately 16.8 million rentable square feet and 63 properties located in 30 other states throughout the continental United States containing approximately 18.1 million rentable square feet. Most of our Hawaii Properties are lands leased to industrial and commercial tenants, many of which own buildings and operate their businesses on our lands. The following table provides certain information about our wholly owned properties as of December 31, 2020 (dollars in thousands): Undepreciated Depreciated Annualized Number of Carrying Carrying Rental State Properties Value (1) Value (1) Revenues AR 1 $ 4,385 $ 3,869 $ 474 AZ 1 65,922 64,546 4,886 CO 5 41,189 36,992 3,928 CT 2 16,363 13,516 1,853 FL 2 45,222 42,035 2,553 HI 226 633,647 612,257 105,341 IA 3 25,136 18,065 2,930 ID 1 5,037 4,387 396 IL 2 4,641 4,134 663 IN 5 98,669 93,791 9,482 KS 1 38,441 38,438 3,219 KY 1 11,274 10,695 898 LA 2 15,824 13,839 1,268 MD 1 76,521 65,874 6,140 MI 1 43,229 37,223 2,184 MN 2 26,990 25,368 2,647 MO 3 19,484 18,435 1,837 NC 1 2,014 1,790 251 ND 1 3,923 3,446 351 NE 1 11,106 9,826 1,264 NH 1 49,213 47,074 4,913 NJ 2 72,356 62,947 5,954 NV 2 36,648 33,230 2,798 NY 2 21,085 18,865 2,852 OH 10 138,749 122,384 13,008 OK 1 7,400 6,692 788 SC 4 121,139 106,173 9,688 SD 1 17,402 16,670 1,527 TN 2 76,117 66,171 6,485 UT 1 8,433 7,408 1,090 VA 1 71,511 61,524 6,255 Total 289 $ 1,809,070 $ 1,667,664 $ 207,923 (1) Excludes the value of real estate related intangibles. At December 31, 2020, 186 of our properties located on the island of Oahu, HI with an aggregate undepreciated carrying value of $505.2 million were encumbered by mortgages totaling $650.0 million. For more information regarding our mortgages 46 Table of Contents and our unconsolidated joint venture, see Notes 3, 5 and 6 to the Notes to Consolidated Financial Statements included in Part IV, Item 15 of this Annual Report on Form 10-K.