Postal Realty Trust, Inc. 10-K

ITEM 2. PROPERTIES As of December 31, 2021, we owned a portfolio of 966 properties located in 49 states comprising approximately of 4.5 million net leasable interior square feet. Our properties are leased primarily to the USPS. The following map shows our footprint of owned properties as of December 31, 2021. Information regarding our properties as of December 31, 2021 are included in Item 15. “Exhibits and Financial Statement Schedules—Schedule III. Real Estate and Accumulated Depreciation” of this Annual Report on Form 10-K. Scheduled Lease Expirations As of December 31, 2021, the weighted average remaining years to maturity pursuant to our leases with the USPS was approximately four years, with expirations through 2031, assuming tenants do not exercise any existing renewal, termination or 30 Table of Contents purchase options. The table below details scheduled lease expirations, as of December 31, 2021, for our properties for the periods indicated. Number of Leases Expiring Total Lease Square Footage Annualized Lease Revenue (1) Year Amount % Amount % 2021 (2) 19 45,869 1.0 % $ 458,213 1.2 % 2022 83 380,793 8.5 % 3,317,315 9.2 % 2023 70 554,500 12.4 % 3,416,028 9.5 % 2024 80 325,138 7.3 % 3,534,214 9.8 % 2025 188 1,153,883 25.9 % 7,923,837 22.0 % 2026 168 802,595 18.0 % 7,130,274 19.7 % 2027 239 785,719 17.6 % 6,133,577 17.0 % 2028 57 201,279 4.5 % 2,118,034 5.9 % 2029 55 180,973 4.1 % 1,782,146 4.9 % 2030 8 26,110 0.6 % 258,262 0.7 % 2031 1 2,435 0.1 % 20,400 0.1 % Totals 968 4,459,294 100.0 % $ 36,092,300 100.0 % Explanatory Notes : (1) Expiring rent is calculated based on the final month of the expiring lease and then annualized. (2) Includes approximately 43,000 of interior lease square footage and annualized lease revenue of $0.4 million occupied by month-to-month holdover leases or leases that expired during the year ended December 31, 2021.