Portfolio comprised 151–152 properties totaling up to 17.8 million sq ft across 27 states, with 98.7–98.9% occupancy as of June 30, 2026.
Portfolio leased to 109 tenants in 21 industries, with a weighted average lease term of 7.1 years and 53% investment grade tenants.
Achieved consistent performance with full rent collection, strong leasing, and strategic acquisitions, including a 153,890 sq ft property in Newport News, VA and a 146,650 sq ft property in Red Bud, IL.
Sold a 161,458 sq ft industrial building in Monroe, NC, redeploying proceeds into higher-yielding assets.
Business environment remained resilient amid macroeconomic uncertainty, with stable industrial demand and 100% rent collection.
Q2 2026 FFO and Core FFO were $18.3 million ($0.38 per share), up from $0.33–$0.35 per share in Q2 2025.
Net income for Q2 2026 was $8.27–$8.3 million, with net income available to common stockholders at $5.1–$5.13 million ($0.11 per share).
Operating revenues for Q2 2026 were $43.99–$44 million, up from $39.5 million in Q2 2025.
Paid $0.30 per share in dividends for Q2 2026 ($1.20 annualized, 9.8% yield).
Recognized a $1.9 million one-time lease termination fee in Q2 2026.
Focused on increasing industrial concentration to over 70% of annualized straight-line rent and targeting high-quality, mission-critical industrial acquisitions.
Lease expirations are well staggered, with only 6.3–7.1% of annualized straight-line rents expiring through the end of 2026.
Ongoing capital recycling from non-core asset sales and continued focus on secondary growth markets.
Liquidity remains strong, with $80.8 million available as of June 30, 2026, and access to $1.0 billion in additional equity capital.
Anticipates same store rents to rise by 2% or more annually.
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