Industrial Logistics Properties Trust 10-K

Item 2. Properties As of December 31, 2021, our portfolio was comprised of 288 wholly owned properties located in 31 states containing approximately 34.0 million rentable square feet, including 226 buildings, leasable land parcels and easements located on the island of Oahu, HI containing approximately 16.7 million rentable square feet and 62 properties located in 30 other states throughout the continental United States containing approximately 17.3 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, 2021 (dollars in thousands): Undepreciated Depreciated Annualized Number of Carrying Carrying Rental State Properties Value (1) Value (1) Revenues HI 226 $ 635,222 $ 611,925 $ 111,213 OH 9 137,882 119,431 11,883 IN 5 98,921 91,344 10,280 SC 4 120,870 102,919 9,665 TN 2 76,658 64,969 6,551 VA 1 71,681 60,002 6,428 MD 1 76,521 64,053 6,236 NJ 2 72,747 61,724 6,090 NH 1 49,213 45,835 4,919 CO 5 41,189 36,049 4,375 IA 3 25,372 17,648 3,314 KS 1 38,479 37,659 3,286 NV 2 36,648 32,308 2,882 NY 2 21,127 18,248 2,821 MN 2 27,440 25,155 2,819 FL 2 45,222 41,050 2,559 MI 1 43,229 36,208 2,184 CT 2 16,363 13,141 1,856 MO 3 19,484 17,938 1,850 SD 1 17,402 16,246 1,535 LA 2 15,850 13,527 1,324 NE 1 11,106 9,574 1,269 UT 1 8,433 7,233 1,096 KY 1 11,292 10,364 883 OK 1 7,400 6,521 792 IL 2 4,723 4,108 657 AR 1 4,385 3,782 475 ID 1 5,037 4,264 393 ND 1 3,923 3,366 346 NC 1 2,014 1,752 251 TX 1 3,000 3,000 — Total 288 $ 1,748,833 $ 1,581,343 $ 210,232 (1) Excludes the value of real estate related intangibles. At December 31, 2021, 186 of our properties located on the island of Oahu, HI with an aggregate undepreciated carrying value of $506.0 million were encumbered by mortgages totaling $650.0 million. For more information regarding our mortgages 42 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.