What changed in this filing

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Item 2. Properties

2021-03-30 compared with 2020-03-27 · 20 added, 18 removed, 6 unchanged (86% of the section changed)

As of December 31, 2020, we owned a portfolio of 726 postal

properties located in 44 states comprising approximately 1.4 million net leasable interior square feet.

All of our properties were

leased to a single tenant, the USPS other than a de-minimis non-postal tenant that shares space in one of our buildings leased

properties located in 47 states comprising approximately of 2.7 million net leasable interior square feet.

All of our properties

were leased to a single tenant, the USPS, other than the multi-tenant industrial facility located in Warrendale, PA.

The USPS occupies

73% of this property as a distribution facility.

The following map shows our footprint of owned and managed properties as of December

own one property in Galena, AK, which has been omitted from this map.

Information regarding

our properties as of December 31, 2019 are included in “Item 15.

We own one property

in Galena, AK, which has been omitted from this map.

regarding our properties as of December 31, 2020 are included in “Item 15.

“Exhibits, Financial Statement Schedules—Schedule

2 unchanged sentences

Lease Expirations

of December 31, 2019, the weighted average remaining years to maturity pursuant to the leases with the USPS was approximately 2.92 years,

with expirations through 2029.

The table below details scheduled lease expirations, as of December 31, 2019, for

our properties for the periods indicated.

Number of Leases

Total Lease Square Footage

Annualized Lease Revenue (1)

rent calculated on the last contracted rent paid monthly annualized.

approximately 58,652 of interior lease square footage and annualized lease revenue of $0.6 million occupied

by month-to-month holdover leases or leases that expired on December 31, 2019.

of the 200 leases set to expire in 2022 are under a master lease.

one postal property adjacent to a post office whose lease was effective on January 1,

of December 31, 2020, the weighted average remaining years to maturity pursuant to our leases with the USPS was approximately 3.7

years, with expirations through 2029.

The table below details scheduled lease expirations, as of December 31, 2020,

for our properties for the periods indicated.

Square Footage

Annualized Lease

Expiring rent

calculated on the last contracted rent paid monthly annualized.

Includes approximately 42,000 of interior lease square footage and annualized lease revenue of $0.6 million occupied by month-to-month holdover leases or leases that expired during the year ended December 31, 2020.

of the 212 leases are under a master lease that was scheduled to expire in 2022 as of December 31, 2020.

Such master lease was

extended in January 2021 to February 2027.

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