What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2024-02-27 compared with 2023-03-08 · 27 added, 32 removed, 100 unchanged (37% of the section changed)

1 unchanged sentence

As of December 31, 2023, the Company owned 75 office properties with an aggregate of 8.7 million square feet located in 29 states, with an occupancy rate of 80.0% and a weighted-average remaining lease term of 3.9 years as of December 31, 2023.

Including the Company’s pro rata share of square feet and annualized base rent from the Arch Street Joint Venture, we owned an aggregate of 9.7 million square feet, with an occupancy rate of 89.0% and a weighted-average remaining lease term of 4.1 years as of December 31, 2022.

Including the Company’s pro rata share of square feet and annualized base rent from the Arch Street Joint Venture, it owned an aggregate of 8.9 million square feet, with an occupancy rate of 80.4%, or 87.2% adjusted for properties that are currently under agreement to be sold, and a weighted-average remaining lease term of 4.0 years as of December 31, 2023.

See Schedule III – Real Estate and Accumulated Depreciation for more information about the Company’s properties and see Note 6 – Debt, Net for more information about mortgages and other indebtedness related to the Company’s properties.

5 unchanged sentences

Government & Public Services 17 769 8.7 % 19,657 13.9 %

Insurance 4 747 7.7 % 15,959 10.0 %

Financial Institutions 3 616 6.9 % 15,720 11.1 %

Software & Services 6 638 6.6 % 11,639 7.3 %

Insurance 3 600 6.7 % 13,292 9.4 %

Capital Goods 10 846 9.5 % 12,656 9.0 %

Software & Services 6 609 6.9 % 12,390 8.8 %

Consumer Durables & Apparel 3 375 4.2 % 8,632 6.1 %

Telecommunication Services 5 419 4.7 % 6,892 4.9 %

Materials 4 366 4.1 % 5,852 4.1 %

Energy 1 309 3.5 % 5,762 4.1 %

Commercial & Professional Services 10 505 5.2 % 7,205 4.5 %

Top Ten Tenant Industries 64 6,018 67.7 % 122,454 86.7 %

Remaining Tenant Industries:

Commercial & Professional Services 10 293 3.3 % 4,746 3.4 %

Transportation 4 279 3.1 % 4,496 3.2 %

Food & Staples Retailing 6 574 5.9 % 6,310 4.0 %

Materials 4 352 3.6 % 5,655 3.6 %

Pharmaceuticals, Biotechnology & Life Sciences 1 176 1.8 % 4,995 3.1 %

Media & Entertainment 2 264 3.0 % 3,745 2.6 %

4 unchanged sentences

Consumer Services 2 5 0.1 % 54 — %

Retail/Restaurant 1 2 — % 49 — %

Total 89 7,144 80.4 % $ 141,293 100.0 %

7 unchanged sentences

New York 5 781 8.8 % 14,407 10.2 %

Illinois 9 916 9.4 % 11,702 7.3 %

Kentucky 2 458 5.2 % 10,354 7.3 %

Oklahoma 3 585 6.0 % 9,591 6.0 %

Massachusetts 2 378 3.9 % 7,933 5.0 %

Colorado 4 571 6.4 % 8,103 5.7 %

Ohio 4 500 5.1 % 6,212 3.9 %

Massachusetts 2 378 4.3 % 7,947 5.6 %

Oklahoma 3 585 6.6 % 6,811 4.8 %

California 3 244 2.8 % 5,532 3.9 %

Top Ten States 50 6,509 66.8 % 115,360 72.3 %

Remaining States:

Missouri 3 303 3.4 % 4,917 3.5 %

Georgia 3 284 2.9 % 4,601 2.9 %

Maryland 2 236 2.7 % 4,646 3.3 %

Top Ten States 42 5,633 63.6 % 101,475 71.7 %

Remaining States:

Tennessee 4 240 2.7 % 4,641 3.3 %

Georgia 3 284 3.2 % 4,635 3.3 %

Virginia 2 240 2.7 % 4,523 3.2 %

Ohio 3 237 2.7 % 3,545 2.5 %

Rhode Island 2 206 2.3 % 3,040 2.2 %

2 unchanged sentences

Arizona 1 91 1.0 % 2,282 1.6 %

Kansas 2 196 2.0 % 1,971 1.2 %

Illinois 8 738 8.3 % 2,191 1.6 %

Iowa 2 92 1.0 % 1,955 1.4 %

3 unchanged sentences

West Virginia 1 63 0.7 % 1,130 0.8 %

Kansas 2 196 2.2 % 1,044 0.7 %

Idaho 1 35 0.4 % 741 0.5 %

11 unchanged sentences

Cigna/Express Scripts 3 365 4.1 % 6,922 4.9 %

Walgreens 6 574 5.9 % 6,310 4.0 %

Coterra Energy 1 309 3.5 % 5,762 4.1 %

T-Mobile 4 294 3.0 % 5,431 3.4 %

Novartis 1 176 1.8 % 4,995 3.1 %

FedEx 2 352 3.6 % 4,469 2.8 %

Top Ten Tenants 38 4,092 42.0 % 80,351 50.4 %

Remaining Tenants:

MDC Holdings Inc.

1 144 1.6 % 4,385 3.1 %

T-Mobile 3 217 2.4 % 3,971 2.8 %

Charter Communications 2 264 3.0 % 3,745 2.7 %

Banner Life Insurance 1 116 1.4 % 3,581 2.5 %

Top Ten Tenants 30 3,380 38.1 % 75,611 53.5 %

Remaining Tenants:

Inform Diagnostics 1 172 1.9 % 3,551 2.5 %

2 unchanged sentences

Home Depot/HD Supply 2 153 1.8 % 3,173 2.2 %

Experian 1 178 1.8 % 2,988 1.9 %

AAA 1 147 1.5 % 2,904 1.8 %

AT&T 1 203 2.3 % 2,921 2.1 %

Ingram Micro 1 170 1.9 % 2,898 2.1 %

Linde 1 175 2.0 % 2,714 1.9 %

Maximus 2 168 1.9 % 2,549 1.8 %

Citigroup 1 64 0.7 % 2,459 1.7 %

1 unchanged sentence

Hasbro 1 136 1.5 % 2,243 1.6 %

Ingram Micro 1 200 2.1 % 2,197 1.4 %

Novus International 1 96 1.1 % 2,022 1.4 %

Elementis 1 66 0.7 % 1,980 1.2 %

Maximus 2 196 2.0 % 1,971 1.2 %

NetJets 1 140 1.4 % 1,966 1.2 %

Pulte Mortgage 1 95 1.1 % 2,005 1.4 %

Baker Hughes 1 152 1.6 % 1,663 1.0 %

Abbott Laboratories 1 131 1.3 % 1,609 1.0 %

NetJets 1 140 1.6 % 1,990 1.4 %

Elementis 1 66 0.7 % 1,980 1.4 %

FedEx 1 90 1.0 % 1,744 1.2 %

General Electric 1 152 1.7 % 1,713 1.2 %

AGCO 1 126 1.4 % 1,607 1.1 %

Intermec 1 81 0.9 % 1,459 1.0 %

Abbott Laboratories 1 131 1.5 % 1,379 1.0 %

Becton Dickinson 1 72 0.8 % 1,370 1.0 %

Total 53 6,069 68.3 % $ 124,590 88.1 %

14 unchanged sentences

Thereafter 8 716 8.0 % 17,024 12.0 %

Subtotal 98 8,604 88.4 % 159,143 99.8 %

Month-to-Month 2 57 0.6 % 285 0.2 %

Total 89 7,144 80.4 % $ 141,293 100.0 %

2 unchanged sentences

Legal Proceedings.

As of the end of the period covered by this Annual Report on Form 10-K, we are not a party to, and none of our properties are subject to, any material pending legal proceedings.

As of December 31, 2023, we are not a party to, and none of our properties are subject to, any material pending legal proceedings.

Mine Safety Disclosures.

1 unchanged sentence

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.

What changed 10-K

Item 2. Properties