UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
/X/ | Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 (Fee Required) for the fiscal year ended December 31, 2000 | ||||
or | |||||
/ / | Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 (No Fee Required) for the transition period from ___________ to ____________ | ||||
Commission file number 1-9044 | |||||
DUKE-WEEKS REALTY CORPORATION (Exact name of registrant as specified in its charter) |
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Indiana
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35-1740409
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(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||
600
East 96th Street, Suite 100 Indianapolis, Indiana |
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46260
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(Address of principal executive offices) | (Zip Code) | ||||
(317) 808-6000
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(Registrants telephone number, including area code) | |||||
Securities registered pursuant to Section 12(b) of the Act: | |||||
Title of each class:
|
Name of each exchange on which registered:
|
Common Stock ($.01 par value) | New York Stock Exchange |
Preferred Share Purchase Rights | New York Stock Exchange |
Depositary Shares, each representing a 1/10 interest in 9.10% | |
Series A Cumulative Redeemable Preferred Shares ($.01 par value) | New York Stock Exchange |
Depositary Shares, each representing a 1/10 interest in 7.375% | |
Series D Convertible Cumulative Redeemable Preferred Shares | |
($.01 par value) | New York Stock Exchange |
Depositary Shares, each representing a 1/10 interest in 8.25% | |
Series E Cumulative Redeemable Preferred Shares ($.01 par value) | New York Stock Exchange |
Preference Shares, each representing a 1/1000 interest in 8.00% | |
Series F Cumulative Redeemable Preferred Shares ($.01 par value) | New York Stock Exchange |
Preference Shares, each representing a 1/1000 interest in 8.625% | |
Series H Cumulative Redeemable Preferred Shares ($.01 par value) | New York Stock Exchange |
Securities registered pursuant to Section 12(g) of the Act:
Depositary Shares, each representing a 1/10 interest in 7.99% Series B Cumulative Redeemable Preferred Shares ($.01 par value)
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 Regulation S-K is not contained herein, and will not be contained, to the best of Registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.
The aggregate market value of the voting shares of the Registrants outstanding common shares held by non-affiliates of the Registrant is $3.0 billion based on the last reported sale price on March 5, 2001.
The number of Common Shares outstanding as of March 5 was 128,771,260 ($.01 par value).
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the registrants definitive proxy statement for the 2000 annual meeting of its shareholders are incorporated by reference in Part III of this report.
TABLE OF CONTENTS
Form 10-K
When used in this Form 10-K Report, the words "believes," "expects," "estimates" and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially. In particular, among the factors that could cause actual results to differ materially are continued qualification as a real estate investment trust, general business and economic conditions, competition, increases in real estate construction costs, interest rates, accessibility of debt and equity capital markets and other risks inherent in the real estate business including tenant defaults, potential liability relating to environmental matters and illiquidity of real estate investments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also advised to refer to the Company's Form 8-K Report as filed with the U.S. Securities and Exchange Commission on March 28, 1996 for additional information concerning these risks.
PART I
Duke-Weeks Realty Corporation (the Company) is a self-administered and self-managed real estate investment trust (REIT). The Company began operations upon completion of its initial public offering in February 1986. In October 1993, the Company completed an additional common stock offering and acquired the rental real estate and service businesses of Duke Associates, whose operations began in 1972. As of December 31, 2000, the Companys diversified portfolio of 958 rental properties (including 45 properties totaling 8.1 million square feet under development) encompass 109.0 million rentable square feet and are leased by a diverse and stable base of over 4,500 tenants whose businesses include manufacturing, retailing, wholesale trade, distribution and professional services. The Company also owns more than 4,100 acres of unencumbered land ready for development.
The Company, through its Service Operations, also provides, on a fee basis, leasing, property and asset management, development, construction, landscaping, build-to-suit, and other tenant-related services for approximately 500 tenants in over 6.3 million square feet of space at properties owned by third-party clients. With 13 primary operating platforms, the Company concentrates its activities in the Midwest and Southeast United States. See Item 7, Managements Discussion and Analysis of Financial Condition and Results of Operations and Item 8, Financial Statements and Supplementary Data for financial information. The Companys rental operations are conducted through Duke-Weeks Realty Limited Partnership (DWRLP). In addition, the Company conducts its service operations through Duke Realty Services Limited Partnership and Duke Construction Limited Partnership, in which the Companys wholly-owned subsidiary, Duke Services, Inc., is the sole general partner. All references to the "Company" in this Form 10-K Report include the Company and those entities owned or controlled by the Company, unless the context indicates otherwise.
The Companys headquarters and executive offices are located in Indianapolis, Indiana. In addition, the Company has thirteen regional offices located in Atlanta, Georgia; Cincinnati, Ohio; Columbus, Ohio; Cleveland, Ohio; Chicago, Illinois; Dallas, Texas; Jacksonville, Florida; Minneapolis, Minnesota; Nashville, Tennessee; Orlando, Florida; Raleigh, North Carolina; St. Louis, Missouri and Tampa, Florida. The Company had 1,411 employees as of December 31, 2000.
Business Strategy
The Companys business objective is to increase its Funds From Operations (FFO) by (i) maintaining and increasing property occupancy and rental rates through the aggressive management of its portfolio of existing properties; (ii) expanding existing properties; (iii) developing and acquiring new properties; and (iv) providing a full line of real estate services to the Companys tenants and to third-parties. FFO is defined by the National Association of Real Estate Investment Trusts as net income or loss, excluding gains or losses from debt restructuring and sales of depreciated property, plus operating property depreciation and amortization and adjustments for minority interest and unconsolidated companies on the same basis. While management believes that FFO is a relevant measure of the Companys operating performance because it is widely used by industry analysts to measure the operating performance of equity REITs, such amount does not represent cash flow from operations as defined by generally accepted accounting principles, should not be considered as an alternative to net income as an indicator of the Companys operating performance, and is not indicative of cash available to fund all cash flow needs. As a fully integrated commercial real estate firm, the Company believes that its in-house leasing, management, development and construction services and the Companys significant base of commercially zoned and unencumbered land in existing business parks should give the Company a competitive advantage in its future development activities.
The Company believes that the analysis of real estate opportunities and risks can be done most effectively at regional or local levels. As a result, the Company intends to continue its emphasis on increasing its market share and effective rents in its primary markets where it owns properties. The Company also expects to utilize its more than 4,100 acres of unencumbered land and its many business relationships with nearly 5,000 commercial tenants to expand its build-to-suit business (development projects substantially pre-leased to a single tenant) and to pursue other development and acquisition opportunities in its primary markets. The Company believes that this regional focus will allow it to assess market supply and demand for real estate more effectively as well as to capitalize on its strong relationships with its tenant base.
The Companys policy is to seek to develop and acquire Class A commercial properties located in markets with high growth potential for Fortune 500 companies and other quality regional and local firms. The Companys industrial and suburban office development focuses on business parks and mixed-use developments suitable for development of multiple projects on a single site where the Company can create and control the business environment. These business parks and mixed-use developments generally include restaurants and other amenities which the Company believes will create an atmosphere that is particularly efficient and desirable. The Companys retail development focuses on community, power and neighborhood centers in its existing markets. As a fully integrated real estate company, the Company is able to arrange for or provide to its industrial, office and retail tenants not only well located and well maintained facilities, but also additional services such as build-to-suit construction, tenant finish construction, expansion flexibility and advertising and marketing services.
All of the Companys properties are located in areas that include competitive properties. Such properties are generally owned by institutional investors, other REITs or local real estate operators; however, no single competitor or small group of competitors is dominant in the Companys current markets. The supply and demand of similar available rental properties may affect the rental rates the Company will receive on its properties. Based upon the current occupancy rates in Company and competitive properties, the Company believes there will not be significant competitive pressure to lower rental rates in the near future.
Financing Strategy
The Company seeks to maintain a well-balanced, conservative and flexible capital structure by: (i) currently targeting a ratio of long-term debt to total market capitalization in the range of 25% to 40%; (ii) extending and sequencing the maturity dates of its debt; (iii) borrowing primarily at fixed rates; (iv) generally pursuing current and future long-term debt financings and refinancings on an unsecured basis; and (v) maintaining conservative debt service and fixed charge coverage ratios. Management believes that these strategies have enabled and should continue to enable the Company to access the debt and equity capital markets for their long-term requirements such as debt refinancings and financing development and acquisitions of additional rental properties. In addition, as discussed under Item 7, Managements Discussion and Analysis of Financial Condition and Results of Operations, the Company has $750 million in unsecured lines of credit and a $150 million secured line of credit available for short-term fundings of development and acquisition of additional rental properties. In addition to debt and equity capital markets, the Company has developed a strategy to pursue favorable opportunities to dispose of assets that no longer meet the Companys long-term investment criteria and re-deploy the proceeds into new investments with excellent long-term growth prospects. See additional discussion under Item 7, Managements Discussion and Analysis of Financial Condition and Results of Operations. The Companys debt to total market capitalization ratio (total market capitalization is defined as the total market value of all outstanding Common and Preferred Shares and units of limited partnership interest (Units) in DWRLP plus outstanding indebtedness) at December 31, 2000 was 31.4%. The Companys ratio of earnings to debt service and ratio of earnings to fixed charges for the year ended December 31, 2000 were 2.32x and 1.71x, respectively. In computing the ratio of earnings to debt service, earnings have been calculated by adding debt service to income before gains or losses on property sales and minority interest in earnings of DWRLP. Debt service consists of interest expense and recurring principal amortization (excluding maturities) and excludes amortization of debt issuance costs. In computing the ratio of earnings to fixed charges, earnings have been calculated by adding fixed charges, excluding capitalized interest, to income before gains or losses on property sales and minority interest in earnings of DWRLP. Fixed charges consist of interest costs, whether expensed or capitalized, the interest component of rental expense, amortization of debt issuance costs and preferred stock dividend requirements. Management believes these measures to be consistent with its financing strategy.
Merger With Weeks Corporation
In July 1999, Weeks Corporation (Weeks), a self-administered, self-managed geographically focused Real Estate Investment Trust (REIT) which operated primarily in the southeastern United States, was merged with and into Duke Realty Investments, Inc. (Duke). The combined company has continued under the name Duke-Weeks Realty Corporation (the Company). The total purchase price of Weeks aggregated approximately $1.9 billion, which included the assumption of the outstanding debt and liabilities of Weeks of approximately $775 million. The transaction was structured as a tax-free merger and was accounted for under the purchase method.
The following summarized pro forma unaudited information represents the combined historical operating results of Weeks and Duke with the appropriate purchase accounting adjustments, assuming the merger had occurred on January 1, 1998. The pro forma financial information presented is not necessarily indicative of what the Companys actual operating results would have been had Weeks and Duke constituted a single entity during such periods (in thousands, except per share amounts):
Years Ended | |||
December
31,
|
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2000
|
1999
|
1998
|
|
(Actual) | (Pro Forma) | (Pro Forma) | |
Rental income |
$711,826
|
$626,803
|
$502,030
|
Net income available for common shareholders |
$212,958
|
$158,156
|
$116,675
|
Weighted average common shares outstanding: | |||
Basic |
126,836
|
118,565
|
107,277
|
Diluted |
147,441
|
139,373
|
128,761
|
Net income per common share: | |||
Basic |
$1.68
|
$1.33
|
$1.09
|
Diluted |
$1.66
|
$1.32
|
$1.07
|
Other
The Companys operations are not dependent on a single or few customers as no single customer accounts for more than 1.7% of the Companys total revenue. The Companys operations are not subject to any significant seasonal fluctuations. The Company believes it is in compliance with environmental regulations and does not anticipate material effects of continued compliance.
For additional information regarding the Companys investments and operations, see Item 7, Managements Discussion and Analysis of Financial Condition and Results of Operations, and Item 8, Financial Statements and Supplementary Data. For additional information about the Companys business segments, see Item 8, Financial Statements and Supplementary Data.
Product Review
As of December 31, 2000, the Company owns an interest in a diversified portfolio of 958 commercial properties encompassing approximately 109.0 million net rentable square feet (including 45 properties comprising 8.1 million square feet under development) located in ten states and more than 4,100 acres of land for future development.
Industrial Properties: The Company owns interests in 695 industrial properties encompassing approximately 82.3 million square feet (76% of total square feet) more specifically described as follows:
| Bulk Warehouses Industrial warehouse/distribution buildings with clear ceiling heights of 20 feet or more. The Company owns 469 buildings totaling 68.5 million square feet of such properties. |
| Service Centers Also known as flex buildings or light industrial, this product type has 12-18 foot clear ceiling heights and a combination of drive-up and dock-height loading access. The Company owns 226 buildings totaling 13.8 million square feet of such properties. |
Office Properties: The Company owns interests in 233 office buildings totaling approximately 24.2 million square feet (22% of total square feet) more specifically described as follows:
| Suburban Office The Company owns 229 suburban office buildings totaling 23.3 million square feet. |
| CBD Office The Company owns four downtown office projects totaling approximately 861,000 square feet. |
Retail Properties: The Company owns interests in 30 retail projects totaling approximately 2.5 million square feet (2% of total square feet). These properties encompass both power and neighborhood shopping centers.
Land: The Company owns more than 4,100 acres of land located primarily in its existing business parks. The land is ready for immediate use and is unencumbered by debt. Over 61 million square feet of additional space can be developed on these sites and all of the land is zoned for either office, industrial or retail development.
Service Operations: The Company provides property and asset management, development, leasing and construction services to third party owners in addition to its own properties. The Companys current property management base for third parties includes over 6.3 million square feet of properties serving approximately 500 tenants.
Property Descriptions
The Companys properties are described on the following pages:
Project
Name/ Location |
Ownership Interest |
Company's Interest |
Year Constructed/ Expanded |
Land Area (Acres) |
Net Rentable Area (Sq. Ft.) |
Percent Leased 12/31/00 |
|
In-Service |
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Industrial |
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Ft. Lauderdale, FL | |||||||
Sawgrass
- Building 1 |
Fee | 95% | [1] | 1999 | 8.55 | 83,433 | 86% |
Hollywood, FL | |||||||
2600 SW 39th Street | Fee | 100% | 1999 | 30.14 | 191,280 | 100% | |
Port 95 - Spec. Bldg. |
Fee | 100% | 1999 | 4.77 | 84,006 | 100% | |
Jacksonville, FL | |||||||
13350 International Park | Fee | 100% | 1998 | 5.14 | 90,000 | 85% | |
13340 International Parkway | Fee | 100% | 1997 | 4.43 | 81,000 | 100% | |
1420 Vantage Way | Fee | 100% | 1998 | 11.55 | 147,300 | 100% | |
1460 Vantage Way | Fee | 100% | 1998 | 5.32 | 86,400 | 100% | |
1350 Tradeport Drive | Fee | 100% | 1989 | 7.64 | 99,750 | 100% | |
1371 Tradeport Drive | Fee | 100% | 1995 | 7.46 | 117,000 | 100% | |
13291 Vantage Way | Fee | 100% | 1995 | 7.58 | 110,880 | 99% | |
Tradeport
Dist Ctr VII |
Fee | 100% | 2000 | 7.92 | 117,000 | 100% | |
Lake Mary, FL | |||||||
100 Technology Parkway | Fee | 100% | 1986 | 5.51 | 60,711 | 95% | |
525 Technology Parkway | Fee | 100% | 1998 | 6.20 | 67,185 | 89% | |
255 Technology Parkway | Fee | 100% | 1998 | 5.16 | 54,590 | 100% | |
200 Technology Parkway | Fee | 100% | 1999 | 6.00 | 68,726 | 100% | |
250
Technology Park |
Fee | 100% | 1999 | 5.00 | 46,481 | 100% | |
Miami, FL | |||||||
Beacon Station #22 | Fee | 50% | [1] | 1999 | 10.75 | 179,832 | 87% |
Beacon Station #23 | Fee | 50% | [1] | 1999 | 10.75 | 179,832 | 81% |
Beacon
Station #24 |
Fee | 50% | [1] | 1999 | 10.75 | 179,672 | 100% |
Orlando, FL | |||||||
8500 Parkline Blvd | Fee | 100% | 1986 | 7.93 | 102,400 | 100% | |
8501 Parkline Blvd. | Fee | 100% | 1991 | 1.95 | 27,000 | 89% | |
8549 Parkline Blvd. | Fee | 100% | 1992 | 1.72 | 27,007 | 100% | |
8351 Parkline Blvd. | Fee | 100% | 1994 | 2.44 | 33,600 | 100% | |
8249 Parkline Blvd | Fee | 100% | 1996 | 2.39 | 33,600 | 100% | |
1630 Prime Court | Fee | 100% | 1996 | 3.65 | 52,579 | 100% | |
1629 Prime Court | Fee | 100% | 1997 | 3.12 | 43,200 | 100% | |
7101 TPC Drive | Fee | 100% | 1998 | 7.26 | 84,650 | 100% | |
7022 TPC Drive | Fee | 100% | 1999 | 7.04 | 86,316 | 54% | |
2500 Principal Row | Fee | 100% | 1996 | 7.50 | 140,015 | 100% | |
2490 Principal Row | Fee | 100% | 1997 | 5.58 | 101,800 | 100% | |
2491 Principal Row | Fee | 100% | 1998 | 6.32 | 118,250 | 100% | |
9600 Parksouth Court | Fee | 100% | 1997 | 7.05 | 126,818 | 100% | |
9550 Parksouth F Ct. | Fee | 100% | 1999 | 10.88 | 203,900 | 88% | |
Parksouth
Dist. Ctr-Bldg H |
Fee | 100% | 2000 | 6.79 | 134,600 | 29% | |
Tampa, FL | |||||||
8640 Elm Fair Blvd | Fee | 100% | 1998 | 4.06 | 68,413 | 100% | |
4720 Oak Fair Blvd | Fee | 100% | 1998 | 10.23 | 173,514 | 100% | |
4758 Oak Fair Blvd. | Fee | 100% | 1999 | 4.45 | 92,200 | 100% | |
Fairfield Distribution Ctr IV | Fee | 100% | 1999 | 6.00 | 86,458 | 100% | |
Fairfield Distribution Ctr V | Fee | 100% | 2000 | 6.72 | 101,100 | 0% | |
Alpharetta, GA | |||||||
Founders Park SC 1 | Fee | 100% | 1999 | 9.10 | 112,559 | 60% | |
11800 Wills Road | Fee | 100% | 1987 | 3.79 | 42,691 | 65% | |
11810 Wills Road | Fee | 100% | 1987 | 3.68 | 59,334 | 100% | |
11820 Wills Road | Fee | 100% | 1987 | 6.06 | 103,222 | 100% | |
11415 Old Roswell Road | Fee | 100% | 1991 | 8.08 | 80,000 | 100% | |
1350 Northmeadow Parkway | Fee | 100% | 1994 | 6.40 | 64,500 | 85% | |
1320 Ridgeland Pkwy | Fee | 100% | 1999 | 10.39 | 125,000 | 100% | |
Ridgeland Business Dist I | Fee | 100% | 1999 | 6.03 | 73,600 | 100% | |
Ridgeland
Business Dist. II |
Fee | 100% | 1999 | 7.15 | 78,400 | 58% | |
Atlanta, GA | |||||||
1670
Defoor Avenue |
Fee | 100% | 1960 | 2.34 | 48,007 | 96% | |
Duluth, GA | |||||||
2475 Meadowbrook Parkway | Fee | 100% | 1986 | 6.07 | 59,086 | 100% | |
2505 Meadowbrook Parkway | Fee | 100% | 1990 | 3.36 | 53,481 | 100% | |
2450 Meadowbrook Parkway | Fee | 50% | [1] | 1989 | 4.26 | 68,400 | 100% |
2500 Meadowbrook Parkway | Fee | 50% | [1] | 1987 | 4.50 | 68,800 | 100% |
2825 Breckinridge Blvd | Fee | 100% | 1986 | 6.80 | 45,442 | 81% | |
2875 Breckinridge Blvd | Fee | 100% | 1986 | 8.75 | 57,918 | 100% | |
2885 Breckinridge Blvd | Fee | 100% | 1997 | 8.85 | 80,450 | 100% | |
2625 Pinemeadow Court | Fee | 50% | [1] | 1994 | 9.57 | 139,540 | 100% |
2660 Pinemeadow Court | Fee | 50% | [1] | 1996 | 6.00 | 104,000 | 100% |
3450 River Green Court | Fee | 100% | 1989 | 4.20 | 33,600 | 100% | |
4800 River Green Parkway | Fee | 100% | 1989 | 2.41 | 25,538 | 0% | |
2775 Premier Parkway | Fee | 100% | 1997 | 6.20 | 79,110 | 100% | |
3079 Premier Parkway | Fee | 100% | 1998 | 9.70 | 101,600 | 94% | |
Sugarloaf Office I | Fee | 100% | 1998 | 11.58 | 90,350 | 100% | |
2850 Premiere Parkway | Fee | 50% | [1] | 1997 | 7.50 | 86,000 | 100% |
Sugarloaf Office II | Fee | 50% | [1] | 1999 | 8.85 | 56,251 | 100% |
Sugarloaf Office III | Fee | 50% | [1] | 1999 | 5.39 | 56,795 | 90% |
2855 Premier Parkway | Fee | 100% | 1999 | 7.20 | 89,636 | 100% | |
6655 Sugarloaf | Fee | 100% | 1998 | 18.40 | 250,000 | 100% | |
Sugarloaf
Office IV |
Fee | 100% | 2000 | 4.87 | 50,975 | 71% | |
Kennesaw, GA | |||||||
1950 Vaughn Street | Fee | 100% | 1992 | 15.47 | 162,651 | 100% | |
240 Northpoint Parkway | Fee | 50% | [1] | 1995/1997 | 4.85 | 222,900 | 100% |
3330 West Town Point Drive | Fee | 100% | 1994 | 5.80 | 88,000 | 100% | |
3350 West Town Point Drive | Fee | 100% | 1995 | 6.21 | 76,800 | 100% | |
3240 Town Point Drive | Fee | 100% | 1997 | 10.40 | 140,400 | 100% | |
3200
Town Point Drive |
Fee | 100% | 1999 | 6.73 | 72,000 | 89% | |
Marietta, GA | |||||||
805 Franklin Court | Fee | 100% | 1983 | 3.13 | 40,410 | 100% | |
810 Franklin Court | Fee | 100% | 1983 | 2.42 | 27,386 | 100% | |
811 Livingston Court | Fee | 100% | 1983 | 1.58 | 20,780 | 76% | |
825 Franklin Court | Fee | 100% | 1983 | 3.58 | 55,259 | 82% | |
830 Franklin Court | Fee | 100% | 1983 | 1.03 | 14,340 | 100% | |
835 Franklin Court | Fee | 100% | 1983 | 3.93 | 60,772 | 100% | |
840 Franklin Court | Fee | 100% | 1983 | 2.42 | 35,908 | 100% | |
821 Livingston Court | Fee | 100% | 1983 | 1.59 | 15,558 | 100% | |
841 Livingston Court | Fee | 100% | 1983 | 2.75 | 35,908 | 100% | |
1335 Capital Circle | Fee | 100% | 1985 | 3.97 | 56,616 | 100% | |
1337-41-51 Capital Circle | Fee | 100% | 1985 | 7.38 | 79,667 | 100% | |
2260 Northwest Parkway | Fee | 100% | 1982 | 3.06 | 50,220 | 89% | |
2252 Northwest Parkway | Fee | 100% | 1982 | 0.95 | 14,435 | 68% | |
2242 Northwest Parkway | Fee | 100% | 1982 | 1.72 | 26,614 | 92% | |
2256 Northwest Parkway | Fee | 100% | 1982 | 0.84 | 13,265 | 54% | |
2244 Northwest Parkway | Fee | 100% | 1982 | 0.64 | 7,384 | 51% | |
2150 Northwest Parkway | Fee | 100% | 1982 | 2.90 | 46,214 | 95% | |
2152 Northwest Parkway | Fee | 100% | 1982 | 1.49 | 25,317 | 100% | |
2130 Northwest Parkway | Fee | 100% | 1982 | 3.51 | 55,325 | 80% | |
2270 Northwest Parkway | Fee | 100% | 1988 | 4.50 | 60,985 | 89% | |
2275
Northwest Parkway |
Fee | 100% | 1988 | 2.60 | 35,786 | 100% | |
McDonough, GA | |||||||
120 Declaration Drive | Fee | 100% | 1997 | 14.70 | 301,200 | 100% |
Norcross, GA | |||||||
3045 Business Pk Dr | Fee | 100% | 1998 | 4.04 | 35,100 | 100% | |
1750 Beaver Ruin | Fee | 100% | 1997 | 6.40 | 67,878 | 100% | |
4258 Communications Drive | Fee | 100% | 1981 | 3.00 | 57,000 | 100% | |
4261 Communications Drive | Fee | 100% | 1981 | 3.29 | 56,600 | 100% | |
4291 Communications Drive | Fee | 100% | 1981 | 1.76 | 31,500 | 100% | |
1826 Doan Way | Fee | 100% | 1984 | 3.90 | 57,200 | 100% | |
1857 Doan Way | Fee | 100% | 1970 | 5.00 | 16,000 | 100% | |
1650 International Blvd | Fee | 100% | 1984 | 3.79 | 52,461 | 0% | |
4245 International Blvd | Fee | 100% | 1985/1995 | 10.58 | 249,200 | 100% | |
4250 International Blvd | Fee | 100% | 1986 | 5.03 | 47,030 | 100% | |
4295 International Blvd | Fee | 100% | 1984 | 3.22 | 49,896 | 100% | |
4320 International Blvd | Fee | 100% | 1984 | 2.44 | 32,000 | 100% | |
4350 International Blvd | Fee | 100% | 1982 | 4.29 | 64,152 | 100% | |
4355 International Blvd | Fee | 100% | 1983 | 4.54 | 60,760 | 27% | |
4405A International Blvd | Fee | 100% | 1984 | 4.30 | 50,000 | 100% | |
4405B International Blvd | Fee | 100% | 1984 | 4.30 | 60,950 | 96% | |
4405C International Blvd | Fee | 100% | 1984 | 4.30 | 10,644 | 100% | |
1828 Meca Way | Fee | 100% | 1975 | 3.90 | 63,000 | 100% | |
1858 Meca Way | Fee | 100% | 1975 | 3.36 | 58,600 | 100% | |
4316 Park Drive | Fee | 100% | 1980 | 2.76 | 50,000 | 100% | |
4317 Park Drive | Fee | 100% | 1985 | 4.52 | 47,243 | 70% | |
4357 Park Drive | Fee | 100% | 1979 | 4.89 | 65,800 | 100% | |
4386 Park Drive | Fee | 100% | 1973 | 3.73 | 54,848 | 100% | |
4436 Park Drive | Fee | 100% | 1968 | 3.90 | 66,232 | 100% | |
4437 Park Drive | Fee | 100% | 1978 | 4.40 | 73,456 | 94% | |
4467 Park Drive | Fee | 100% | 1978 | 4.68 | 66,203 | 100% | |
4476 Park Drive | Fee | 100% | 1977 | 2.90 | 42,200 | 100% | |
4487 Park Drive | Fee | 100% | 1978 | 4.68 | 89,204 | 64% | |
4274 Shackleford Road | Fee | 100% | 1974 | 6.18 | 80,822 | 100% | |
4344 Shackleford Road | Fee | 100% | 1975 | 3.85 | 52,924 | 100% | |
4355 Shackleford Road | Fee | 100% | 1972 | 8.12 | 137,100 | 100% | |
4364 Shackleford Road | Fee | 100% | 1973 | 2.12 | 31,040 | 100% | |
4366 Shackleford Road | Fee | 100% | 1981 | 3.30 | 56,709 | 100% | |
4388 Shackelford Road | Fee | 100% | 1981 | 5.40 | 89,612 | 100% | |
4400 Shackleford Road | Fee | 100% | 1981 | 2.30 | 39,004 | 100% | |
4444 Shackleford Road | Fee | 100% | 1979 | 5.20 | 85,200 | 100% | |
1505 Pavillion Place | Fee | 100% | 1988 | 5.11 | 78,400 | 100% | |
3883 Steve Reynolds Blvd. | Fee | 100% | 1990 | 7.00 | 137,061 | 100% | |
3890 Steve Reynolds Blvd | Fee | 100% | 1991 | 4.74 | 48,800 | 100% | |
3905 Steve Reynolds Blvd | Fee | 100% | 1995 | 4.60 | 64,800 | 100% | |
3950 Steve Reynolds Blvd. | Fee | 100% | 1992 | 5.73 | 80,000 | 100% | |
4020 Steve Reynolds Blvd | Fee | 100% | 1997 | 3.05 | 44,260 | 100% | |
4025 Steve Reynolds Blvd | Fee | 100% | 1994 | 4.54 | 70,400 | 73% | |
2915 Courtyards Drive | Fee | 100% | 1986 | 3.82 | 40,058 | 100% | |
2925 Courtyards Drive | Fee | 100% | 1986 | 4.76 | 71,763 | 100% | |
2975 Courtyards Drive | Fee | 100% | 1986 | 2.05 | 27,342 | 100% | |
2995 Courtyards Drive | Fee | 100% | 1986 | 1.56 | 18,542 | 100% | |
2725 Northwoods Pkwy | Fee | 100% | 1984 | 4.40 | 76,686 | 100% | |
2755 Northwoods Pkwy | Fee | 100% | 1986 | 2.49 | 48,270 | 100% | |
2775 Northwoods Pkwy | Fee | 100% | 1986 | 3.22 | 32,192 | 100% | |
2850 Colonnades Court | Fee | 100% | 1988 | 8.03 | 102,128 | 100% | |
3040 Northwoods Pkwy | Fee | 100% | 1984 | 2.98 | 50,480 | 100% | |
3044 Northwoods Circle | Fee | 100% | 1984 | 2.38 | 24,367 | 100% | |
3055 Northwoods Pkwy | Fee | 100% | 1985 | 2.13 | 31,946 | 0% | |
3075 Northwoods Pkwy | Fee | 100% | 1985 | 3.74 | 41,400 | 100% | |
3100 Northwoods Pkwy | Fee | 100% | 1985 | 3.93 | 39,728 | 100% | |
3155 Northwoods Pkwy | Fee | 100% | 1985 | 3.31 | 40,530 | 100% | |
3175 Northwoods Pkwy | Fee | 100% | 1985 | 2.50 | 33,405 | 100% | |
6525-27 Jimmy Carter Blvd | Fee | 100% | 1983 | 5.62 | 92,735 | 55% | |
5765 Peachtree Industrial Blvd | Fee | 100% | 1997 | 4.73 | 60,000 | 100% | |
5775 Peachtree Industrial Blvd | Fee | 100% | 1997 | 4.73 | 60,000 | 100% | |
2450 Satellite Blvd | Fee | 50% | [1] | 1994 | 6.18 | 102,862 | 100% |
5401 Buford Highway | Fee | 100% | 1987 | 4.19 | 74,360 | 100% | |
5403 Buford Highway | Fee | 100% | 1987 | 5.98 | 108,140 | 100% | |
5405 Buford Highway | Fee | 100% | 1989 | 3.15 | 61,982 | 100% | |
5409 Buford Highway | Fee | 100% | 1989 | 5.18 | 111,873 | 58% | |
3170 Reps Miller Road | Fee | 100% | 1998 | 4.48 | 51,400 | 100% | |
3180 Reps Miller Road | Fee | 100% | 1998 | 4.48 | 51,400 | 100% | |
3190 Reps Miller Road | Fee | 100% | 1998 | 4.48 | 59,034 | 71% |
Roswell, GA | |||||||
11545 Wills Road | Fee | 100% | 1998 | 8.70 | 71,140 | 100% | |
105 Hembree Park Drive | Fee | 100% | 1988 | 3.61 | 45,490 | 82% | |
150 Hembree Park Drive | Fee | 100% | 1985 | 5.03 | 44,343 | 100% | |
200 Hembree Park Drive | Fee | 100% | 1985 | 1.97 | 43,559 | 100% | |
645 Hembree Parkway | Fee | 100% | 1986 | 3.08 | 45,037 | 82% | |
655 Hembree Parkway | Fee | 100% | 1986 | 3.09 | 43,956 | 100% | |
250 Hembree Park Drive | Fee | 100% | 1996 | 8.07 | 94,500 | 100% | |
660 Hembree Park Drive | Fee | 100% | 1998 | 9.23 | 94,500 | 100% | |
993 Mansell Road | Fee | 100% | 1987 | 1.69 | 21,600 | 100% | |
995 Mansell Road | Fee | 100% | 1987 | 0.97 | 16,800 | 100% | |
997 Mansell Road | Fee | 100% | 1987 | 0.86 | 14,400 | 100% | |
999 Mansell Road | Fee | 100% | 1987 | 1.32 | 19,200 | 50% | |
1003 Mansell Road | Fee | 100% | 1987 | 1.66 | 20,800 | 100% | |
1005 Mansell Road | Fee | 100% | 1987 | 0.94 | 16,800 | 92% | |
1007 Mansell Road | Fee | 100% | 1987 | 2.07 | 37,450 | 100% | |
1009 Mansell Road | Fee | 100% | 1986 | 3.26 | 38,082 | 81% | |
1011 Mansell Road | Fee | 100% | 1984 | 3.23 | 38,630 | 67% | |
Northbrook Business Dist II | Fee | 100% | 2000 | 4.84 | 64,000 | 0% | |
1100 Northmeadow Parkway | Fee | 100% | 1989 | 6.94 | 50,891 | 100% | |
1150 Northmeadow Parkway | Fee | 100% | 1988 | 3.98 | 52,050 | 100% | |
1125 Northmeadow Parkway | Fee | 100% | 1987 | 5.78 | 67,104 | 80% | |
1175 Northmeadow Parkway | Fee | 100% | 1987 | 4.06 | 71,264 | 100% | |
1250 Northmeadow Parkway | Fee | 100% | 1989 | 4.17 | 52,224 | 100% | |
1225 Northmeadow Parkway | Fee | 100% | 1989 | 3.89 | 37,520 | 56% | |
1325 Northmeadow Parkway | Fee | 100% | 1990 | 5.89 | 70,050 | 100% | |
1335 Northmeadow Parkway | Fee | 100% | 1996 | 8.60 | 88,784 | 93% | |
11390 Old Roswell Road | Fee | 100% | 1997 | 4.42 | 47,600 | 100% | |
1400 Hembree Road | Fee | 100% | 1998 | 3.68 | 34,615 | 100% | |
245 Hembree Park Drive | Fee | 100% | 1999 | 7.50 | 103,916 | 90% | |
Northmeadow BD IV | Fee | 100% | 1999 | 6.68 | 93,363 | 100% | |
Northmeadow Service Ctr V | Fee | 100% | 1999 | 4.68 | 38,845 | 100% | |
Northmeadow
BD VI |
Fee | 100% | 1999 | 4.96 | 63,112 | 24% | |
Suwanee, GA | |||||||
90 Horizon Drive | Fee | 50% | [1] | 1992 | 2.00 | 13,400 | 100% |
225 Horizon Drive | Fee | 50% | [1] | 1990 | 5.08 | 96,000 | 100% |
250 Horizon Drive | Fee | 50% | [1] | 1997 | 18.05 | 267,600 | 100% |
70 Crestridge Drive | Fee | 50% | [1] | 1998 | 10.62 | 132,128 | 100% |
2775 Horizon Ridge | Fee | 50% | [1] | 1996 | 12.20 | 223,219 | 100% |
2780 Horizon Ridge | Fee | 50% | [1] | 1997 | 12.70 | 222,643 | 100% |
2800 Vista Ridge Drive | Fee | 50% | [1] | 1995 | 17.30 | 252,092 | 100% |
410 Horizon Dr. | Fee | 50% | [1] | 1999 | 15.39 | 247,500 | 50% |
100 Crestridge Drive | Fee | 50% | [1] | 1999 | 8.03 | 99,822 | 100% |
1000 Northbrook Parkway | Fee | 50% | [1] | 1986 | 8.40 | 131,660 | 100% |
675 Old Peachtree Rd | Fee | 50% | [1] | 1988 | 10.06 | 176,820 | 57% |
7250
McGinnis Ferry Road |
Fee | 100% | 1996 | 6.22 | 70,600 | 100% | |
Aurora, IL | |||||||
535 Exchange | Fee | 100% | 1984 | 4.63 | 25,943 | 100% | |
515-525 Enterprise | Fee | 100% | 1984 | 3.39 | 66,017 | 100% | |
615 Enterprise | Fee | 100% | 1984 | 4.63 | 83,818 | 50% | |
3615 Exchange | Fee | 100% | 1986 | 4.06 | 64,755 | 100% | |
4000 Sussex | Fee | 100% | 1990 | 4.13 | 75,203 | 100% | |
700 North Commerce | Fee | 100% | 1989 | 6.87 | 119,155 | 0% | |
3737 E. Exchange | Fee | 100% | 1985 | 5.92 | 104,928 | 100% | |
444 N. Commerce | Fee | 100% | 1985 | 7.15 | 92,692 | 100% | |
Meridian I | Fee | 100% | 2000 | 11.65 | 188,700 | 56% | |
Bolinbrook, IL | |||||||
Crossroads 1 | Fee | 50% | [1] | 1998 | 11.34 | 289,920 | 100% |
Bolingbrook, IL | |||||||
Chapco Carton Company | Fee | 100% | 2000 | 7.58 | 145,000 | 100% | |
Crossroads 3 | Fee | 50% | [1] | 2000 | 10.64 | 187,000 | 50% |
Carol Stream, IL | |||||||
Carol Stream Building 1 | Fee | 50% | [1] | 1998 | 8.76 | 187,850 | 100% |
Des Plaines, IL | |||||||
Wolf Road Building | Fee | 100% | 1966/1969 | 2.70 | 60,922 | 100% | |
105 East Oakton | Fee | 100% | 1974 | 6.50 | 180,000 | 99% | |
Lake Forest, IL | |||||||
Ballard Drive Building | Fee | 100% | 1985 | 3.33 | 54,274 | 100% | |
Laurel Drive Building | Fee | 100% | 1981 | 1.12 | 19,570 | 100% | |
13825 W. Laurel Dr. | Fee | 100% | 1978/1985 | 3.51 | 60,125 | 21% |
Romeoville, IL | ||||||||
Crossroads 2 |
Fee | 50% | [1] | 1999 | 23.50 | 460,800 | 100% | |
Westmont, IL | ||||||||
Oakmont
Tech Center |
Fee | 100% | 1989 | 6.30 | 110,671 | 81% | ||
Carmel, IN | ||||||||
Hamilton
Crossing Bldg 1 |
Fee | 100% | 1989 | 4.70 | 103,041 | 77% | ||
Fishers, IN | ||||||||
Exit 5 Bldg I | Fee | [3] | 100% | 1999 | 9.00 | 134,400 | 100% | |
Exit 5
Bldg. II |
Fee | 100% | 1999 | 8.60 | 124,000 | 45% | ||
Greenwood, IN | ||||||||
South
Park Bldg 2 |
Fee | 100% | 1990 | 7.10 | 86,806 | 100% | ||
Indianapolis, IN | ||||||||
3200 North Elizabeth | Fee | 50% | [1] | 1973 | 4.50 | 99,350 | 100% | |
Franklin Road Bus. Ctr. | Fee | 100% | 1962/1998 | 28.00 | 488,925 | 100% | ||
Georgetown Rd. Bldg 1 | Fee | 50% | [1] | 1987 | 5.85 | 111,883 | 83% | |
Georgetown Rd. Bldg 2 | Fee | 50% | [1] | 1987 | 5.81 | 72,120 | 100% | |
Georgetown Rd. Bldg 3 | Fee | 50% | [1] | 1987 | 5.10 | 45,896 | 100% | |
6061 Guion Rd | Fee | 100% | 1974 | 6.20 | 87,064 | 100% | ||
6060 Guion Rd | Fee | 100% | 1968/1977 | 14.05 | 182,311 | 100% | ||
Hillsdale Bldg 1 | Fee | 50% | [1] | 1986 | 9.16 | 73,866 | 100% | |
Hillsdale Bldg 2 | Fee | 50% | [1] | 1986 | 5.50 | 83,600 | 100% | |
Hillsdale Bldg 3 | Fee | 50% | [1] | 1987 | 5.50 | 84,050 | 86% | |
Hillsdale Bldg 4 | Fee | 100% | 1987 | 7.85 | 73,874 | 100% | ||
Hillsdale Bldg 5 | Fee | 100% | 1987 | 5.44 | 67,500 | 99% | ||
Hillsdale Bldg 6 | Fee | 100% | 1987 | 4.25 | 64,000 | 0% | ||
Hunter Creek Bldg 1 | Fee | 10%-50% | [2] | 1989 | 5.97 | 86,500 | 100% | |
Hunter Creek Bldg 2 | Fee | 10%-50% | [2] | 1989 | 8.86 | 202,561 | 100% | |
4750 Kentucky Avenue | Fee | 100% | 1974 | 11.01 | 125,000 | 100% | ||
North Airport Park Bldg 1 | Fee | 50% | [1] | 1996/1998 | 64.02 | 1,339,195 | 100% | |
North Airport Park Bldg 2 | Fee | 50% | [1] | 1997 | 22.50 | 377,280 | 100% | |
Park 100 Bldg 111 | Fee | 50% | [1] | 1987 | 7.91 | 83,545 | 100% | |
Park 100 Bldg 112 | Fee | 50% | [1] | 1987 | 4.45 | 37,800 | 90% | |
Park 100 Bldg 128 | Fee | 50% | [1] | 1996 | 14.40 | 322,000 | 100% | |
Park 100 Bldg 129 | Fee | 50% | [1] | 1996 | 16.00 | 457,600 | 100% | |
Vanstar | Fee | 50% | [1] | 1997 | 21.00 | 415,680 | 100% | |
Park 100 Bldg 133 | Fee | 50% | [1] | 1997 | 1.30 | 20,530 | 100% | |
Park 100 Bldg 48 | Fee | 50% | [1] | 1984 | 8.63 | 127,410 | 100% | |
Park 100 Bldg 49 | Fee | 50% | [1] | 1982 | 4.55 | 89,600 | 100% | |
Park 100 Bldg 50 | Fee | 50% | [1] | 1982 | 4.09 | 51,200 | 100% | |
Park 100 Bldg 52 | Fee | 50% | [1] | 1983 | 2.70 | 34,800 | 100% | |
Park 100 Bldg 53 | Fee | 50% | [1] | 1984 | 4.23 | 76,800 | 100% | |
Park 100 Bldg 54 | Fee | 50% | [1] | 1984 | 4.42 | 76,800 | 100% | |
Park 100 Bldg 55 | Fee | 50% | [1] | 1984 | 3.83 | 43,200 | 100% | |
Park 100 Bldg 56 | Fee | 50% | [1] | 1984 | 15.94 | 300,000 | 100% | |
Park 100 Bldg 57 | Fee | 50% | [1] | 1984 | 7.70 | 128,800 | 100% | |
Park 100 Bldg 58 | Fee | 50% | [1] | 1984 | 8.03 | 128,800 | 100% | |
Park 100 Bldg 59 | Fee | 50% | [1] | 1985 | 5.14 | 83,200 | 100% | |
Park 100 Bldg 60 | Fee | 50% | [1] | 1985 | 4.78 | 83,200 | 92% | |
Park 100 Bldg 62 | Fee | 50% | [1] | 1986 | 7.70 | 128,800 | 100% | |
Park 100 Bldg 67 | Fee | 50% | [1] | 1987 | 4.23 | 72,350 | 100% | |
Park 100 Bldg 68 | Fee | 50% | [1] | 1987 | 4.23 | 72,360 | 100% | |
Park 100 Bldg 71 | Fee | 50% | [1] | 1987 | 9.06 | 193,400 | 27% | |
Park 100 Bldg 74 | Fee | 10%-50% | [2] | 1988 | 12.41 | 257,400 | 100% | |
Park 100 Bldg 76 | Fee | 10%-50% | [2] | 1988 | 5.10 | 81,695 | 100% | |
Park 100 Bldg 78 | Fee | 10%-50% | [2] | 1988 | 21.80 | 512,777 | 100% | |
Park 100 Bldg 85 | Fee | 10%-50% | [2] | 1989 | 9.70 | 180,100 | 100% | |
Park 100 Bldg 89 | Fee | 10%-50% | [2] | 1990 | 11.28 | 311,600 | 100% | |
Park 100 Bldg 91 | Fee | 10%-50% | [2] | 1990/1996 | 7.53 | 196,800 | 100% | |
Park 100 Bldg 92 | Fee | 10%-50% | [2] | 1991 | 4.38 | 45,917 | 100% | |
Park 100 Bldg 95 | Fee | 100% | 1993 | 15.23 | 336,000 | 100% | ||
Silver Burdett | Fee | 100% | 1994/1997 | 27.69 | 737,850 | 100% | ||
Park 100 Bldg 98 | Fee | 100% | 1968/1995 | 37.34 | 508,300 | 97% | ||
Park 100 Bldg 99 | Fee | 50% | [1] | 1994 | 18.00 | 364,800 | 100% | |
Park 100 Bldg 100 | Fee | 100% | 1995 | 7.00 | 117,500 | 100% | ||
Park 100 Bldg 101 | Fee | 50% | [1] | 1983 | 4.37 | 45,000 | 88% | |
Park 100 Bldg 105 | Fee | 50% | [1] | 1983 | 4.64 | 41,400 | 83% | |
Park 100 Bldg 106 | Fee | 50% | [1] | 1978 | 4.64 | 41,400 | 61% | |
Park 100 Bldg 107 | Fee | 100% | 1984 | 3.56 | 58,783 | 100% |
Park 100 Bldg 108 | Fee | 50% | [1] | 1983 | 6.36 | 60,300 | 100% |
Park 100 Bldg 109 | Fee | 100% | 1985 | 4.80 | 46,000 | 100% | |
Park 100 Bldg 113 | Fee | 50% | [1] | 1987 | 6.20 | 72,166 | 100% |
Park 100 Bldg 114 | Fee | 50% | [1] | 1987 | 6.20 | 56,700 | 100% |
Park 100 Bldg 117 | Fee | 10%-50% | [2] | 1988 | 13.36 | 135,461 | 76% |
Park 100 Bldg 120 | Fee | 10%-50% | [2] | 1989 | 4.54 | 54,982 | 100% |
Park 100 Bldg 122 | Fee | 100% | 1990 | 6.17 | 73,274 | 100% | |
Park 100 Bldg 125 | Fee | 100% | 1994/1996 | 13.81 | 195,080 | 100% | |
Park 100 Bldg 126 | Fee | 100% | 1984 | 4.04 | 60,100 | 100% | |
Park 100 Bldg 127 | Fee | 100% | 1995 | 6.50 | 93,600 | 100% | |
Park 100 Bldg 130 | Fee | 100% | 1996 | 9.70 | 152,000 | 100% | |
Park 100 Bldg 134 | Fee | 100% | 1998 | 8.70 | 110,487 | 100% | |
Park 100 Bldg 136 | Fee | 100% | 1998 | 10.50 | 152,864 | 100% | |
Park 100 Bldg 39 | Fee | 50% | [1] | 1987 | 7.85 | 128,000 | 100% |
Park 100 Bldg 63 | Fee | 50% | [1] | 1987 | 4.85 | 83,200 | 100% |
Park 100 Bldg 64 | Fee | 50% | [1] | 1987 | 4.86 | 83,200 | 75% |
Park 100 Bldg 65 | Fee | 50% | [1] | 1987 | 12.20 | 257,600 | 100% |
Park 100 Bldg 66 | Fee | 50% | [1] | 1987 | 5.30 | 64,800 | 57% |
Park 100 Bldg 79 | Fee | 50% | [1] | 1988 | 4.47 | 66,000 | 77% |
Park 100 Bldg 80 | Fee | 50% | [1] | 1988 | 4.47 | 66,000 | 100% |
Park 100 Bldg 83 | Fee | 50% | [1] | 1989 | 5.34 | 96,000 | 75% |
Park 100 Bldg 84 | Fee | 50% | [1] | 1989 | 5.34 | 96,000 | 100% |
Park 100 Bldg 87 | Fee | 50% | [1] | 1989 | 14.20 | 462,000 | 100% |
Park 100 Building 97 | Fee | 50% | [1] | 1994 | 13.38 | 280,800 | 79% |
Park Fletcher Bldg 2 | Fee | 50% | [1] | 1970 | 1.31 | 20,160 | 100% |
Park Fletcher Bldg 4 | Fee | 50% | [1] | 1974 | 1.73 | 23,000 | 100% |
Park Fletcher Bldg 6 | Fee | 50% | [1] | 1971 | 3.13 | 36,180 | 92% |
Park Fletcher Bldg 7 | Fee | 50% | [1] | 1974 | 3.00 | 41,900 | 100% |
Park Fletcher Bldg 8 | Fee | 50% | [1] | 1974 | 2.11 | 18,000 | 100% |
Park Fletcher Bldg 14 | Fee | 100% | 1978 | 1.39 | 19,480 | 100% | |
Park Fletcher Bldg 15 | Fee | 50% | [1] | 1979 | 5.74 | 72,800 | 89% |
Park Fletcher Bldg 16 | Fee | 50% | [1] | 1979 | 3.17 | 35,200 | 70% |
Park Fletcher Bldg 18 | Fee | 50% | [1] | 1980 | 5.52 | 43,950 | 90% |
Park Fletcher Bldg 21 | Fee | 50% | [1] | 1983 | 2.95 | 37,224 | 100% |
Park Fletcher Bldg 22 | Fee | 50% | [1] | 1983 | 2.96 | 48,635 | 100% |
Park Fletcher Bldg 26 | Fee | 50% | [1] | 1983 | 2.91 | 28,340 | 100% |
Park Fletcher Bldg 27 | Fee | 25% | [1] | 1985 | 3.01 | 39,178 | 100% |
Park Fletcher Bldg 28 | Fee | 25% | [1] | 1985 | 7.22 | 93,880 | 83% |
Park Fletcher Bldg 29 | Fee | 50% | [1] | 1987 | 7.16 | 92,044 | 100% |
Park Fletcher Bldg 30 | Fee | 50% | [1] | 1989 | 5.93 | 78,568 | 92% |
Park Fletcher Bldg 31 | Fee | 50% | [1] | 1990 | 2.62 | 33,029 | 100% |
Park Fletcher Bldg 32 | Fee | 50% | [1] | 1990 | 5.43 | 67,297 | 100% |
Park Fletcher Bldg 33 | Fee | 50% | [1] | 1997 | 7.50 | 112,710 | 100% |
Park Fletcher Bldg 34 | Fee | 50% | [1] | 1997 | 13.00 | 230,400 | 100% |
Park Fletcher Bldg 35 | Fee | 50% | [1] | 1998 | 8.10 | 96,427 | 100% |
Park Fletcher Bldg 36 | Fee | 50% | [1] | 1998 | 3.90 | 52,800 | 91% |
Park Fletcher Bldg 37 | Fee | 50% | [1] | 1998 | 1.90 | 14,850 | 100% |
Park Fletcher Bldg 38 | Fee | 50% | [1] | 1999 | 13.70 | 253,866 | 100% |
Park Fletcher Bldg 39 | Fee | 50% | [1] | 1999 | 5.40 | 91,122 | 100% |
Park Fletcher Bldg 40 | Fee | 50% | [1] | 1999 | 5.40 | 89,508 | 86% |
4316
West Minnesota |
Fee | 100% | 1970 | 10.40 | 121,250 | 100% | |
Lebanon, IN | |||||||
Lebanon Building 2 | Fee | 50% | [1] | 1996 | 31.60 | 500,455 | 100% |
Lebanon Building 4 | Fee | 100% | 1997/2000 | 14.90 | 418,400 | 100% | |
Lebanon Building 5 | Fee | 100% | 1998 | 38.90 | 576,040 | 100% | |
Lebanon Building 9 | Fee | 100% | 1999 | 26.80 | 395,679 | 100% | |
Lebanon Building 1 | Fee | 50% | [1] | 1996 | 10.40 | 153,600 | 100% |
Lebanon
Building 6 |
Fee | 50% | [1] | 1998 | 23.30 | 395,472 | 100% |
Plainfield, IN | |||||||
Plainfield Building 1 | Fee | 100% | 2000 | 21.25 | 450,000 | 100% | |
Plainfield
Building 2 |
Fee | 100% | 2000 | 26.70 | 481,874 | 100% | |
Florence, KY | |||||||
Empire Commerce Center | Fee | 50% | [1] | 1973/1980 | 11.62 | 148,445 | 100% |
7910 Kentucky Drive | Fee | 50% | [1] | 1980 | 3.78 | 38,329 | 100% |
7920 Kentucky Drive | Fee | 50% | [1] | 1974 | 9.33 | 93,945 | 94% |
Hebron, KY | |||||||
Skyport Building 1 | Fee | 50% | [1] | 1997 | 15.10 | 316,800 | 100% |
Skyport Building 2 | Fee | 50% | [1] | 1998 | 20.00 | 453,300 | 100% |
Skyport Building 3 | Fee | 50% | [1] | 2000 | 28.80 | 473,000 | 100% |
Skyport Bldg 4 | Fee | 50% | [1] | 1999 | 6.76 | 72,600 | 16% |
Ky. Southpark Bldg 4 | Fee | 100% | 1994 | 28.79 | 166,400 | 100% | |
CR Services | Fee | 100% | 1994 | 22.50 | 253,664 | 100% | |
KY. Southpark Bldg 1 | Fee | 50% | [1] | 1990 | 7.90 | 96,000 | 100% |
Ky.
Southpark Bldg 3 |
Fee | 50% | [1] | 1991 | 10.79 | 192,000 | 100% |
Louisville, KY | |||||||
Dayco |
Fee | 50% | [1] | 1995 | 30.00 | 282,539 | 100% |
Bloomington, MN | |||||||
Alpha Business Ctr III&IV | Fee | 100% | 1980 | 4.68 | 50,400 | 100% | |
Alpha Business Ctr V | Fee | 100% | 1980 | 13.57 | 80,640 | 100% | |
Bloomington Industrial Center | Fee | 100% | 1963 | 7.40 | 100,852 | 100% | |
Lyndale Commons I | Fee | 100% | 1981 | 2.60 | 43,770 | 98% | |
Lyndale Commons II | Fee | 100% | 1985 | 2.51 | 34,816 | 100% | |
Hampshire Dist Center North | Fee | 100% | 1979 | 9.26 | 159,200 | 100% | |
Hampshire Dist Center South | Fee | 100% | 1979 | 9.40 | 157,000 | 100% | |
Hampshire Tech Center | Fee | 100% | 1998 | 14.22 | 142,526 | 100% | |
Penn
Corporate Bldg |
Fee | 100% | 1977 | 2.08 | 40,844 | 100% | |
Brooklyn Park, MN | |||||||
Crosstown North Bus. Ctr. 1 | Fee | 100% | 1998 | 12.09 | 157,453 | 100% | |
Crosstown North Bus. Ctr. 2 | Fee | 100% | 1998 | 5.00 | 67,837 | 94% | |
Crosstown North Bus. Ctr. 3 | Fee | 100% | 1999 | 5.00 | 68,300 | 91% | |
Crosstown North Bus. Ctr. 4 | Fee | 100% | 1999 | 16.90 | 214,210 | 88% | |
Crosstown North Bus Ctr 5 | Fee | 100% | 1999 | 8.87 | 142,708 | 100% | |
Crosstown North Bus Ctr 6 | Fee | 100% | 2000 | 5.57 | 73,109 | 16% | |
7300
Northland Drive |
Fee | 100% | 1980/1999 | 10.98 | 185,500 | 100% | |
Burnsville, MN | |||||||
Professional Plaza IV | Fee | 100% | 1980 | 2.79 | 37,528 | 100% | |
Cliff Road Industrial Ctr | Fee | 100% | 1972 | 3.31 | 49,857 | 99% | |
Professional Plaza III | Fee | 100% | 1985 | 2.24 | 35,987 | 76% | |
Professional Plaza II | Fee | 100% | 1984 | 2.41 | 35,619 | 100% | |
Larc Industrial Park I | Fee | 100% | 1977 | 4.59 | 67,200 | 98% | |
Larc Industrial Park II | Fee | 100% | 1976 | 3.70 | 54,180 | 100% | |
Larc Industrial Park III | Fee | 100% | 1980 | 2.38 | 30,800 | 100% | |
Larc Industrial Park IV | Fee | 100% | 1980 | 1.06 | 13,800 | 100% | |
Larc Industrial Park V | Fee | 100% | 1980 | 1.54 | 22,880 | 100% | |
Larc Industrial Park VI | Fee | 100% | 1975 | 3.91 | 63,600 | 69% | |
Larc
Industrial Park VII |
Fee | 100% | 1973 | 2.65 | 41,088 | 100% | |
Chanhassen, MN | |||||||
Chanhassen Lakes I | Fee | 100% | 1983 | 5.40 | 49,072 | 51% | |
Chanhassen
Lakes II |
Fee | 100% | 1986 | 6.36 | 56,670 | 100% | |
Crystal, MN | |||||||
Crystal
Industrial Center |
Fee | 100% | 1974 | 3.23 | 72,000 | 99% | |
Eagan, MN | |||||||
Apollo Industrial Ctr I | Fee | 100% | 1997 | 11.05 | 168,480 | 100% | |
Apollo Industrial Ctr II | Fee | 100% | 2000 | 4.30 | 70,089 | 23% | |
Apollo Industrial Ctr III | Fee | 100% | 2000 | 13.00 | 240,439 | 100% | |
Eagandale Crossing | Fee | 100% | 1998 | 6.60 | 80,104 | 100% | |
Eagandale Tech Center | Fee | 100% | 1998 | 7.61 | 76,520 | 100% | |
Silverbell Commons | Fee | 100% | 1999 | 16.62 | 235,120 | 100% | |
Sibley Industrial Center I | Fee | 100% | 1973 | 2.88 | 54,612 | 100% | |
Sibley Industrial Center II | Fee | 100% | 1972 | 2.58 | 37,800 | 100% | |
Sibley Industrial Center III | Fee | 100% | 1968 | 4.10 | 32,810 | 100% | |
Trapp Road Commerce I | Fee | 100% | 1996 | 6.50 | 96,800 | 100% | |
Trapp Road Commerce II | Fee | 100% | 1998 | 11.86 | 180,480 | 68% | |
Yankee
Place |
Fee | 100% | 1986 | 19.03 | 221,075 | 92% | |
Eden Prairie, MN | |||||||
Edenvale Executive Center | Fee | 100% | 1987 | 9.82 | 111,245 | 100% | |
Golden Triangle Tech Ctr | Fee | 100% | 1997 | 11.10 | 90,704 | 100% | |
Valley
Gate North |
Fee | 100% | 1986 | 4.17 | 52,828 | 97% | |
Edina, MN | |||||||
Cahill Business Center | Fee | 100% | 1980 | 3.90 | 60,082 | 100% | |
Edina Interchange I | Fee | 100% | 1995 | 4.73 | 73,809 | 97% | |
Edina Interchange II | Fee | 100% | 1980 | 3.46 | 55,006 | 100% | |
Edina Interchange III | Fee | 100% | 1981 | 6.39 | 62,784 | 100% |
Edina Interchange IV | Fee | 100% | 1974 | 1.99 | 22,440 | 100% | |
Edina Interchange V | Fee | 100% | 1974 | 4.92 | 139,101 | 100% | |
Edina Interchange VII | Fee | 100% | 1970 | 2.36 | 30,655 | 100% | |
Pakwa I | Fee | 100% | 1979 | 1.67 | 38,196 | 100% | |
Pakwa II | Fee | 100% | 1979 | 1.67 | 21,254 | 100% | |
Pakwa III | Fee | 100% | 1979 | 1.67 | 19,978 | 84% | |
Fridley, MN | |||||||
River Road Business Ctr. S. | Fee | 100% | 1986 | 8.91 | 119,860 | 99% | |
University Center I&II | Fee | 100% | 1983 | 4.70 | 51,893 | 96% | |
Golden Valley, MN | |||||||
Decatur Business Center | Fee | 100% | 1982 | 3.96 | 44,279 | 100% | |
Golden Hills 1 | Fee | 100% | 1996 | 7.50 | 91,368 | 100% | |
Golden Hills 2 | Fee | 100% | 1999 | 7.50 | 79,294 | 100% | |
Golden Hills 3 | Fee | 100% | 1999 | 7.20 | 87,456 | 100% | |
Sandburg Industrial Center | Fee | 100% | 1973 | 5.68 | 94,612 | 100% | |
801 Zane Avenue North | Fee | 100% | 1989 | 4.93 | 84,219 | 100% | |
Hopkins, MN | |||||||
Cornerstone Business Center | Fee | 100% | 1996 | 13.49 | 222,494 | 100% | |
The Johnson Bldg | Fee | 100% | 1974 | 2.09 | 62,718 | 97% | |
Westside Business Park | Fee | 100% | 1987 | 9.10 | 114,800 | 96% | |
Mendota Heights, MN | |||||||
Enterprise Industrial Center | Fee | 100% | 1979 | 10.88 | 165,755 | 100% | |
Minneapolis, MN | |||||||
Broadway Business Ctr III | Fee | 100% | 1983 | 2.77 | 21,600 | 100% | |
Broadway Business Ctr IV | Fee | 100% | 1983 | 2.77 | 29,920 | 100% | |
Broadway Business Ctr V | Fee | 100% | 1983 | 1.44 | 24,795 | 100% | |
Broadway Business Ctr VI | Fee | 100% | 1983 | 2.77 | 66,961 | 100% | |
Broadway Business Ctr VII | Fee | 100% | 1983 | 2.78 | 36,000 | 100% | |
Minnetonka, MN | |||||||
Encore Park | Fee | 100% | 1977 | 14.50 | 126,858 | 91% | |
New Hope, MN | |||||||
Bass Lake Business Bldg | Fee | 100% | 1981 | 5.33 | 47,368 | 100% | |
Plymouth, MN | |||||||
Medicine Lake Indus. Center | Fee | 100% | 1970 | 16.37 | 222,893 | 100% | |
Plymouth Office/Tech Center | Fee | 100% | 1986 | 3.77 | 52,487 | 100% | |
Plymouth Service Center | Fee | 100% | 1978 | 6.00 | 74,042 | 100% | |
Westpoint Bldg B&C | Fee | 100% | 1978 | 4.92 | 65,539 | 97% | |
Westpoint Bldg D&E | Fee | 100% | 1978 | 6.34 | 81,030 | 98% | |
St. Louis Park, MN | |||||||
Cedar Lake Business Center | Fee | 100% | 1976 | 3.05 | 50,400 | 100% | |
Novartis Warehouse | Fee | 100% | 1960 | 14.40 | 355,798 | 100% | |
Oxford Industrial Bldg | Fee | 100% | 1971 | 1.23 | 16,736 | 100% | |
St. Paul, MN | |||||||
University Crossing | Fee | 100% | 1990 | 5.65 | 83,414 | 95% | |
Bridgeton, MO | |||||||
Dukeport 1 | Fee | 50% | [1] | 1996 | 21.24 | 403,200 | 71% |
Dukeport 2 | Fee | 50% | [1] | 1997 | 14.70 | 244,800 | 100% |
Dukeport V | Fee | 50% | [1] | 1998 | 6.00 | 95,280 | 100% |
Dukeport VI | Fee | 50% | [1] | 1999 | 16.64 | 320,000 | 100% |
Dukeport VII | Fee | 50% | [1] | 1999 | 8.34 | 123,480 | 100% |
Dukeport VIII | Fee | 50% | [1] | 1999 | 16.64 | 260,160 | 100% |
Earth City, MO | |||||||
Corporate Center, Earth City | Fee | 100% | 2000 | 6.93 | 73,200 | 41% | |
Fenton, MO | |||||||
Fenton Interstate Building C | Fee | 100% | 1986 | 5.50 | 95,519 | 100% | |
Fenton Interstate Building D | Fee | 100% | 1987 | 5.85 | 105,651 | 100% | |
Fenton Industrial Bldg A | Fee | 100% | 1987 | 3.44 | 67,200 | 100% | |
Fenton Industrial Bldg B | Fee | 100% | 1986 | 5.20 | 101,366 | 100% | |
Southport I | Fee | 100% | 1977 | 1.36 | 20,810 | 100% | |
Southport II | Fee | 100% | 1978 | 1.53 | 22,400 | 100% | |
Southport Commerce Ctr | Fee | 100% | 1978 | 2.65 | 34,873 | 100% | |
Maryland Heights, MO | |||||||
Riverport Distribution A | Fee | 100% | 1990 | 5.96 | 100,000 | 100% | |
Express Scripts Service Center | Fee | 100% | 1992 | 10.81 | 119,000 | 100% | |
Riverport Distribution B | Fee | 100% | 1989 | 3.36 | 45,200 | 100% |
Riverport 1 | Fee | 100% | 1999 | 6.64 | 72,000 | 100% | |
Riverport 2 | Fee | 100% | 2000 | 9.51 | 104,800 | 100% | |
Westport Center I | Fee | 100% | 1998 | 11.90 | 177,600 | 100% | |
Westport Center II | Fee | 100% | 1998 | 5.25 | 51,053 | 100% | |
Westport Center III | Fee | 100% | 1999 | 8.70 | 91,000 | 100% | |
Olivette, MO | |||||||
1920 Beltway | Fee | 100% | 1986 | 4.44 | 70,000 | 100% | |
I-170 Center | Fee | 100% | 1986 | 4.57 | 76,415 | 79% | |
Warson Commerce Center | Fee | 100% | 1987/1997 | 8.83 | 122,886 | 100% | |
St. Charles, MO | |||||||
Alfa-Laval | Fee | 100% | 1996 | 12.76 | 129,500 | 100% | |
St. Louis, MO | |||||||
Craig Park Center | Fee | 100% | 1984 | 3.19 | 42,210 | 100% | |
St. Louis Business Center A | Fee | 100% | 1987 | 2.49 | 47,876 | 71% | |
St. Louis Business Center B | Fee | 100% | 1986 | 3.14 | 58,236 | 95% | |
St. Louis Business Center C | Fee | 100% | 1986 | 2.10 | 38,628 | 100% | |
St. Louis Business Center D | Fee | 100% | 1987 | 1.81 | 33,953 | 100% | |
Westport Center IV | Fee | 100% | 2000 | 14.71 | 173,400 | 100% | |
Westport Center V | Fee | 100% | 1999 | 5.09 | 35,000 | 100% | |
St. Peters, MO | |||||||
Horizon Business Center | Fee | 100% | 1985 | 5.31 | 75,746 | 100% | |
Morrisville, NC | |||||||
507 Airport Blvd | Fee | 100% | 1993 | 7.15 | 106,862 | 94% | |
5151 McCrimmon Pkwy | Fee | 100% | 1995 | 7.67 | 104,806 | 100% | |
2600 Perimeter Park Dr | Fee | 100% | 1997 | 6.07 | 70,848 | 100% | |
5150 McCrimmon Pkwy | Fee | 100% | 1998 | 12.32 | 143,737 | 100% | |
3000 Perimeter Park Dr | Fee | 100% | 1989 | 5.76 | 75,000 | 100% | |
2900 Perimeter Park Dr | Fee | 100% | 1990 | 4.52 | 59,970 | 100% | |
2800 Perimeter Park Dr | Fee | 100% | 1992 | 8.22 | 136,370 | 100% | |
100 Perimeter Park Drive | Fee | 100% | 1987 | 5.30 | 55,666 | 100% | |
200 Perimeter Park Drive | Fee | 100% | 1987 | 6.30 | 55,664 | 100% | |
300 Perimeter Park Drive | Fee | 100% | 1986 | 6.30 | 55,664 | 100% | |
400 Perimeter Park Drive | Fee | 100% | 1983 | 5.40 | 74,088 | 100% | |
500 Perimeter Park Drive | Fee | 100% | 1985 | 5.80 | 74,107 | 100% | |
800 Perimeter Park Drive | Fee | 100% | 1984 | 4.50 | 55,637 | 100% | |
900 Perimeter Park Drive | Fee | 100% | 1982 | 4.00 | 47,799 | 79% | |
1000 Perimeter Park Drive | Fee | 100% | 1982 | 4.50 | 55,108 | 64% | |
1100 Perimeter Park Drive | Fee | 100% | 1990 | 9.50 | 83,755 | 98% | |
409 Airport Blvd Bldg A | Fee | 100% | 1983 | 3.07 | 42,712 | 100% | |
409 Airport Blvd Bldg B | Fee | 100% | 1986 | 1.89 | 26,215 | 100% | |
409 Airport Blvd bldg C | Fee | 100% | 1982 | 3.07 | 85,129 | 99% | |
100 Innovation Avenue | Fee | 100% | 1994 | 7.51 | 108,000 | 100% | |
101 Innovation Ave | Fee | 100% | 1997 | 7.94 | 97,500 | 100% | |
200 Innovation Drive | Fee | 100% | 1999 | 5.26 | 96,000 | 100% | |
501 Innovation Ave. | Fee | 100% | 1999 | 8.00 | 140,400 | 100% | |
Raleigh, NC | |||||||
3200 Spring Forest Road | Fee | 100% | 1986 | 5.61 | 59,971 | 100% | |
3100 Spring Forest Road | Fee | 100% | 1992 | 9.16 | 50,306 | 100% | |
Blue Ash, OH | |||||||
Cornell Commerce Center | Fee | 100% | 1989 | 9.91 | 167,695 | 100% | |
Creek Road Bldg 1 | Fee | 100% | 1971 | 2.05 | 38,715 | 100% | |
Creek Road Bldg 2 | Fee | 100% | 1971 | 2.63 | 53,210 | 100% | |
Canal Winchester, OH | |||||||
Nifco at Canal Winchester | Fee | 100% | 2000 | 6.82 | 124,800 | 100% | |
Cincinnati, OH | |||||||
U.S. Post Office | Fee | 40% | [1] | 1992 | 2.60 | 57,886 | 100% |
Cincinnati Bell Supply | Fee | 100% | 1999 | 9.00 | 80,100 | 100% | |
World Park Bldg #30 | Fee | 50% | [1] | 1999 | 33.23 | 615,600 | 100% |
World Park Bldg 5 | Fee | 100% | 1987 | 5.00 | 59,690 | 100% | |
World Park Bldg 6 | Fee | 100% | 1987 | 7.26 | 92,400 | 100% | |
World Park Bldg 7 | Fee | 100% | 1987 | 8.63 | 96,000 | 100% | |
World Park Bldg 17 | Fee | 50% | [1] | 1994 | 15.10 | 304,000 | 100% |
World Park Bldg 8 | Fee | 50% | [1] | 1989 | 14.60 | 192,000 | 100% |
World Park Bldg 9 | Fee | 50% | [1] | 1989 | 4.47 | 58,800 | 80% |
World Park Bldg 11 | Fee | 50% | [1] | 1989 | 8.98 | 96,000 | 100% |
World Park Bldg 14 | Fee | 50% | [1] | 1989 | 8.91 | 166,400 | 100% |
World Park Bldg 15 | Fee | 50% | [1] | 1990 | 6.50 | 93,600 | 100% |
World Park Bldg 16 | Fee | 50% | [1] | 1989 | 7.00 | 93,600 | 100% |
World Park Bldg 18 | Fee | 50% | [1] | 1997 | 16.90 | 252,000 | 100% |
World Park Bldg 28 | Fee | 50% | [1] | 1998 | 11.60 | 220,160 | 100% |
World Park Bldg 29 | Fee | 50% | [1] | 1998 | 21.40 | 452,000 | 100% |
World Park Bldg 31 | Fee | 50% | [1] | 1998 | 7.10 | 122,120 | 100% |
Columbus, OH | |||||||
2190-2200 Westbelt Drive | Fee | 100% | 1986 | 6.12 | 95,516 | 100% | |
Westbelt West #1 | Fee | 100% | 1999 | 9.53 | 132,800 | 100% | |
Westbelt West #2 | Fee | 100% | 1999 | 11.24 | 184,000 | 23% | |
3800 Zane Trace Drive | Fee | 100% | 1978 | 3.98 | 83,167 | 100% | |
3635 Zane Trace Drive | Fee | 100% | 1980 | 5.24 | 98,880 | 100% | |
Fairfield, OH | |||||||
Fairfield Bus. Ctr. D | Fee | 100% | 1990 | 3.23 | 40,223 | 100% | |
Fairfield Bus. Ctr. E | Fee | 100% | 1990 | 6.07 | 75,356 | 100% | |
University Moving | Fee | 100% | 1991 | 4.95 | 70,000 | 100% | |
Glenwillow, OH | |||||||
Mr. Coffee | Fee | 50% | [1] | 1997 | 35.00 | 458,000 | 100% |
Emerald Valley Bldg I | Fee | 100% | 1999 | 11.50 | 200,928 | 100% | |
Grove City, OH | |||||||
South Pointe Bldg A | Fee | 50% | [1] | 1995 | 14.06 | 293,824 | 57% |
South Pointe Bldg B | Fee | 50% | [1] | 1996 | 13.16 | 307,200 | 100% |
South Pointe Bldg C | Fee | 50% | [1] | 1996 | 12.57 | 322,000 | 100% |
South Pointe Bldg D | Fee | 100% | 1997 | 6.55 | 116,590 | 100% | |
South Pointe Bldg E | Fee | 100% | 1997 | 6.55 | 82,520 | 100% | |
Groveport, OH | |||||||
Groveport Comm Ctr #1 | Fee | 50% | [1] | 1998 | 17.78 | 354,814 | 100% |
Groveport Comm Ctr #2 | Fee | 100% | 1999 | 21.80 | 437,000 | 100% | |
Groveport Comm Ctr #3 | Fee | 100% | 1999 | 10.60 | 168,000 | 81% | |
Groveport Comm Ctr #4 | Fee | 100% | 2000 | 22.95 | 427,432 | 100% | |
Groveport Commerce Ctr. #345 | Fee | 100% | 2000 | 20.47 | 345,000 | 0% | |
6600 Port Road | Fee | 100% | 1995/1998 | 45.42 | 1,019,312 | 100% | |
Mason, OH | |||||||
Governor's Pointe 4700 | Fee | 100% | 1987 | 5.51 | 77,890 | 73% | |
Governor's Pointe 4900 | Fee | 100% | 1987 | 9.41 | 79,034 | 98% | |
Governor's Pointe 4800 | Fee | 100% | 1989 | 7.07 | 80,123 | 100% | |
Milford, OH | |||||||
Park 50 Bldg 20 | Fee | 100% | 1987 | 8.37 | 96,714 | 100% | |
Park 50 Bldg 25 | Fee | 100% | 1989 | 12.20 | 78,328 | 84% | |
Monroe, OH | |||||||
Monroe Business Center Bldg. 1 | Fee | 100% | 1992 | 24.50 | 399,600 | 100% | |
Sharonville, OH | |||||||
Enterprise Bldg 1 | Fee | 100% | 1990 | 7.52 | 87,400 | 100% | |
Enterprise Bldg 2 | Fee | 100% | 1990 | 7.52 | 84,963 | 100% | |
Enterprise Bldg A | Fee | 100% | 1987 | 2.65 | 20,887 | 80% | |
Enterprise Bldg B | Fee | 100% | 1988 | 2.65 | 34,940 | 100% | |
Enterprise Bldg D | Fee | 100% | 1989 | 5.40 | 60,329 | 93% | |
Mosteller Distribution Center | Fee | 100% | 1957/1996 | 25.80 | 357,796 | 100% | |
Mosteller Dist. Ctr II | Fee | 100% | 1997 | 12.20 | 261,440 | 100% | |
Perimeter Park Bldg A | Fee | 100% | 1991 | 2.92 | 28,100 | 100% | |
Perimeter Park Bldg B | Fee | 100% | 1991 | 3.84 | 30,000 | 100% | |
Solon, OH | |||||||
Pioneer-Standard Electronics | Fee | 100% | 1998 | 12.90 | 224,600 | 100% | |
Fountain Parkway Bldg 1 | Fee | 100% | 1998 | 6.50 | 108,700 | 100% | |
6450 Davis-Ameritech | Fee | 100% | 1999 | 5.77 | 40,372 | 100% | |
30600 Carter | Fee | 100% | 1971 | 11.30 | 190,188 | 100% | |
6230 Cochran | Fee | 100% | 1977 | 7.20 | 100,365 | 98% | |
31900 Solon | Fee | 100% | 1974 | 8.30 | 85,000 | 0% | |
5821 Harper | Fee | 100% | 1970 | 5.80 | 66,638 | 100% | |
6161 Cochran | Fee | 100% | 1978 | 6.10 | 62,400 | 100% | |
5901 Harper | Fee | 100% | 1970 | 4.10 | 55,263 | 100% | |
29125 Solon | Fee | 100% | 1980 | 5.90 | 47,329 | 0% | |
6661 Cochran | Fee | 100% | 1979 | 4.70 | 39,000 | 100% | |
6521 Davis | Fee | 100% | 1979 | 3.20 | 21,600 | 100% | |
30301 Carter Street | Fee | 100% | 1972 | 12.58 | 219,574 | 100% |
Strongsville, OH | |||||||
Park 82 Bldg 2 | Fee | 100% | 1998 | 7.10 | 105,600 | 100% | |
Park 82 Bldg 1 | Fee | 100% | 1998 | 4.50 | 67,540 | 100% | |
Park 82 Bldg 3 | Fee | 100% | 1999 | 6.37 | 85,912 | 100% | |
Park 82 Bldg 4 | Fee | 100% | 2000 | 8.24 | 170,550 | 77% | |
Park 82 Bldg 5 | Fee | 100% | 2000 | 8.05 | 161,984 | 65% | |
Johnson Controls | Fee | 100% | 1972 | 14.56 | 85,410 | 100% | |
Mohawk Dr. Bldg. 1 | Fee | 100% | 2000 | 9.50 | 77,500 | 100% | |
Dyment | Fee | 100% | 1988 | 12.00 | 246,140 | 100% | |
Twinsburg, OH | |||||||
Enterprise Parkway #1 | Fee | 100% | 1974/1995 | 7.40 | 66,109 | 100% | |
Enterprise Parkway Bldg 2 | Fee | 100% | 2000 | 12.00 | 198,000 | 89% | |
West Chester, OH | |||||||
World Park at Union Ctr 12 | Fee | 100% | 2000 | 4.70 | 55,000 | 32% | |
World Park at Union Ctr 1 | Fee | 50% | [1] | 1998 | 4.00 | 59,400 | 100% |
World Park at Union Ctr 2 | Fee | 50% | [1] | 1999 | 3.82 | 64,800 | 81% |
World Park at Union Ctr 3 | Fee | 50% | [1] | 1998 | 15.00 | 321,200 | 100% |
World Park at Union Ctr 4 | Fee | 50% | [1] | 1999 | 4.46 | 48,400 | 100% |
World Park at Union Ctr 5 | Fee | 50% | [1] | 1999 | 6.43 | 86,400 | 100% |
World Park at Union Ctr 6 | Fee | 50% | [1] | 1999 | 16.25 | 321,464 | 100% |
World Park at Union Ctr 8 | Fee | 50% | [1] | 1999 | 15.47 | 340,560 | 100% |
Duncan, SC | |||||||
170 Parkway West | Fee | 100% | 1995 | 6.50 | 96,000 | 100% | |
285 Parkway East | Fee | 100% | 1994/1996 | 14.36 | 197,200 | 100% | |
190 Parkway West | Fee | 100% | 1996 | 8.61 | 92,400 | 100% | |
265 Parkway East | Fee | 100% | 1999 | 13.08 | 124,800 | 69% | |
Antioch, TN | |||||||
Keebler (Nashville) | Fee | 100% | 1985 | 4.39 | 36,150 | 100% | |
Brentwood, TN | |||||||
7104 Crossroads Blvd | Fee | 100% | 1987 | 7.00 | 103,200 | 79% | |
7106 Crossroads Blvd | Fee | 100% | 1987 | 6.70 | 103,880 | 96% | |
7108 Crossroads Blvd | Fee | 100% | 1989 | 6.60 | 99,000 | 61% | |
Franklin, TN | |||||||
277 Mallory Station | Fee | 100% | 1996 | 8.69 | 127,318 | 77% | |
320 Premier Court | Fee | 100% | 1996 | 7.26 | 106,368 | 100% | |
305 Seaboard Lane | Fee | 100% | 1998 | 14.23 | 122,094 | 100% | |
416 Mary Lindsay Polk Dr | Fee | 100% | 1996 | 10.00 | 161,037 | 90% | |
318 Seaboard Lane Bldg 200 | Fee | 100% | 1999 | 4.07 | 30,112 | 91% | |
318 Seaboard Lane Bldg 100 | Fee | 100% | 1999 | 3.25 | 37,766 | 98% | |
119 Seaboard Lane | Fee | 100% | 1990 | 5.40 | 90,024 | 100% | |
121 Seaboard Lane | Fee | 100% | 1990 | 3.10 | 45,480 | 99% | |
123 Seaboard Lane | Fee | 100% | 1990 | 4.10 | 63,360 | 100% | |
Nashville, TN | |||||||
1420 Donelson Pike | Fee | 100% | 1985 | 7.20 | 90,000 | 81% | |
1410 Donelson Pike | Fee | 100% | 1986 | 9.30 | 108,300 | 90% | |
1400 Donelson Pike | Fee | 100% | 1996 | 7.70 | 102,727 | 97% | |
400 Airpark Center | Fee | 100% | 1989 | 3.20 | 52,748 | 100% | |
500 Airpark Center Dr. | Fee | 100% | 1988 | 5.40 | 90,150 | 100% | |
600 Airport Center Dr | Fee | 100% | 1990 | 4.70 | 78,800 | 100% | |
700 Airpark Center Dr. | Fee | 100% | 1992 | 4.50 | 77,518 | 100% | |
800 Airpark Center Dr. | Fee | 100% | 1995 | 6.00 | 93,928 | 100% | |
900 Airpark Center Dr | Fee | 100% | 1995 | 6.00 | 84,307 | 100% | |
1000 Airpark Center Dr. | Fee | 100% | 1997 | 8.00 | 106,122 | 100% | |
5270 Harding place | Fee | 100% | 1996 | 4.01 | 51,960 | 100% | |
1415 Donelson Pike | Fee | 100% | 1996 | 12.40 | 156,933 | 100% | |
1413 Donelson Pike | Fee | 100% | 1996 | 5.15 | 66,737 | 100% | |
5233 Harding Place | Fee | 100% | 1998 | 4.01 | 47,938 | 100% | |
431 Great Circle Road | Fee | 100% | 1999 | 19.29 | 166,137 | 93% | |
700 Melrose Avenue | Fee | 100% | 1997 | 8.32 | 165,902 | 100% | |
684 Melrose Ave | Fee | 100% | 1998 | 10.75 | 137,479 | 100% | |
758 Melrose Avenue | Fee | 100% | 1997 | 8.10 | 103,600 | 79% | |
784 Melrose Ave. | Fee | 100% | 1999 | 2.89 | 32,863 | 100% | |
Greenbriar Business Park | Fee | 100% | 1986 | 10.73 | 134,759 | 91% | |
Haywood Oaks Bldg 2 | Fee | 100% | 1988 | 2.94 | 50,400 | 100% | |
Haywood Oaks Bldg 3 | Fee | 100% | 1988 | 2.94 | 52,800 | 90% | |
Haywood Oaks Bldg 4 | Fee | 100% | 1988 | 5.23 | 46,800 | 86% | |
Haywood Oaks Bldg 5 | Fee | 100% | 1988 | 5.23 | 61,172 | 93% |
Haywood Oaks Bldg 6 | Fee | 100% | 1989 | 10.53 | 113,691 | 85% | |
Haywood Oaks Bldg 7 | Fee | 100% | 1995 | 8.24 | 66,873 | 100% | |
Haywood Oaks Bldg 8 | Fee | 100% | 1997 | 15.44 | 71,615 | 83% | |
Haywood Oaks East | Fee | 100% | 2000 | 13.00 | 120,657 | 41% | |
Metro Airport Center Bldg 1 | Fee | 100% | 1999 | 6.37 | 80,675 | 94% | |
566 Mainstream Dr. | Fee | 100% | 1982 | 6.92 | 95,644 | 100% | |
621 Mainstream Dr. | Fee | 100% | 1984 | 7.18 | 52,302 | 100% | |
Riverview Business Center I | Fee | 100% | 2000 | 8.26 | 42,013 | 68% | |
3300 Briley Park Blvd | Fee | 100% | 1997 | 18.27 | 195,379 | 100% | |
2515 Perimeter Park | Fee | 100% | 1990 | 4.46 | 71,031 | 100% | |
500 Royal Parkway | Fee | 100% | 1990 | 4.70 | 75,000 | 100% | |
Carrollton, TX | |||||||
Trinity Mills VI | Fee | 50% | [1] | 1986 | 4.61 | 241,477 | 100% |
Trinity Mills VII | Fee | 50% | [1] | 1986 | 4.61 | 106,472 | 100% |
Frankford Distribution I | Fee | 50% | [1] | 1994 | 4.22 | 153,200 | 100% |
Frankford Distribution II | Fee | 50% | [1] | 1995 | 4.22 | 123,200 | 100% |
Frankford III | Fee | 50% | [1] | 1996 | 4.22 | 221,400 | 100% |
Dickerson Service Center | Fee | 50% | [1] | 1995 | 4.22 | 42,225 | 100% |
Frankford Interchange | Fee | 50% | [1] | 1997 | 4.22 | 380,660 | 100% |
McDaniel | Fee | 50% | [1] | 1981 | 4.85 | 125,000 | 67% |
Hutton Drive | Fee | 50% | [1] | 1981 | 4.86 | 97,921 | 100% |
Coppell, TX | |||||||
Freeport II | Fee | 50% | [1] | 1996 | 14.40 | 280,000 | 100% |
Freeport III | Fee | 50% | [1] | 1996 | 15.59 | 297,903 | 100% |
Freeport IV | Fee | 50% | [1] | 1996 | 12.26 | 125,103 | 100% |
Freeport V | Fee | 50% | [1] | 2000 | 9.55 | 115,950 | 0% |
Freeport VI | Fee | 50% | [1] | 2000 | 12.09 | 228,210 | 100% |
Farmers Branch, TX | |||||||
One Valwood Park | Fee | 50% | [1] | 1991 | 12.20 | 113,000 | 100% |
Fort Worth, TX | |||||||
14900 Trinity Blvd. | Fee | 50% | [1] | 1984 | 14.30 | 310,000 | 100% |
Framers Branch, TX | |||||||
Two Valwood Park | Fee | 50% | [1] | 1996 | 5.27 | 126,800 | 100% |
Garland, TX | |||||||
Garland Business Center II | Fee | 50% | [1] | 1999 | 15.15 | 143,598 | 88% |
International I | Fee | 50% | [1] | 1996 | 12.70 | 151,200 | 100% |
International II | Fee | 50% | [1] | 1996 | 12.70 | 283,600 | 100% |
Grand Prairie, TX | |||||||
1252 Avenue T | Fee | 50% | [1] | 1983 | 5.86 | 50,000 | 100% |
1302 Avenue T | Fee | 50% | [1] | 1983 | 5.81 | 70,000 | 100% |
Carrier | Fee | 50% | [1] | 1980 | 5.11 | 110,880 | 100% |
Regency | Fee | 50% | [1] | 1980 | 7.85 | 132,521 | 100% |
Irving, TX | |||||||
Texas Plaza I | Fee | 50% | [1] | 1997 | 9.10 | 115,926 | 100% |
Texas Plaza II | Fee | 50% | [1] | 1999 | 5.22 | 71,550 | 100% |
Lewisville, TX | |||||||
1550 Lakeway Drive | Fee | 50% | [1] | 1997 | 11.92 | 200,515 | 100% |
501 E Corporate Dr | Fee | 50% | [1] | 1998 | 9.72 | 159,000 | 100% |
Milwaukee, WI | |||||||
San Francisco Music Box | Fee | 33.33% | [1] | 1993 | 8.90 | 153,600 | 100% |
Office
|
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Brandon, FL | |||||||
Regency I | Fee | 100% | 2000 | 5.72 | 58,210 | 17% | |
Celebration, FL | |||||||
1130 Celebration Blvd | Fee | 100% | 1997 | 5.78 | 62,876 | 92% | |
1120 Celebration Blvd. | Fee | 100% | 1997 | 4.00 | 43,020 | 100% | |
Celebration C-9 Phase I | Fee | 100% | 2000 | 6.08 | 80,736 | 77% | |
Ft. Lauderdale, FL | |||||||
Beacon Pointe at Weston Bldg 1 | Fee | 50% | [1] | 1999 | 6.88 | 97,579 | 79% |
Jacksonville, FL | |||||||
7011 A.C. Skinner Pkwy | Fee | 100% | 1999 | 4.76 | 59,448 | 100% | |
Lake Mary, FL | |||||||
1025 Greenwood Blvd. | Fee | 85% | [1] | 1998 | 8.49 | 109,021 | 83% |
Northpoint Center II | Fee | 94.75% | [1] | 1999 | 8.76 | 108,499 | 92% |
Tampa, FL | ||||||||
Highland Oaks I | Fee | 100% | 1999 | 10.70 | 124,597 | 99% | ||
Highland Oaks II | Fee | 100% | 1999 | 10.70 | 124,997 | 52% | ||
Alpharetta, GA | ||||||||
3925 Brookside Parkway | Fee | 100% | 1998 | 9.98 | 106,631 | 100% | ||
3625 Brookside Parkway | Fee | 100% | 1999 | 10.75 | 133,355 | 85% | ||
Radiant Systems Phase II | Fee | 100% | 2000 | 5.60 | 80,314 | 100% | ||
2550 Northwinds Parkway | Fee | 100% | 1998 | 14.22 | 148,509 | 100% | ||
Atlanta, GA | ||||||||
6 W. Druid Hills Drive | Fee | 100% | 1968 | 2.83 | 80,757 | 100% | ||
2801 Buford Highway | Fee | 100% | 1977 | 5.82 | 115,712 | 92% | ||
1190 W. Druid Hills Drive | Fee | 100% | 1980 | 5.56 | 79,384 | 100% | ||
Duluth, GA | ||||||||
3805 Crestwood Parkway | Fee | 100% | 1997 | 7.20 | 104,947 | 100% | ||
3885 Crestwood Parkway | Fee | 100% | 1998 | 6.33 | 103,598 | 98% | ||
Hampton Green Office Bldg | Fee | 100% | 2000 | 10.11 | 122,807 | 49% | ||
Kennesaw, GA | ||||||||
3391 Town Point Drive | Fee | 100% | 1999 | 7.35 | 93,849 | 49% | ||
Lawrenceville, GA | ||||||||
Huntcrest Office I | Fee | 50% | [1] | 2000 | 7.19 | 103,650 | 100% | |
Norcross, GA | ||||||||
4366 Park Drive | Fee | 100% | 1981 | 1.00 | 9,481 | 100% | ||
1835 Shackelford Court | Fee | 100% | 1990 | 3.29 | 56,576 | 83% | ||
1854 Shackleford Road | Fee | 100% | 1985/1995 | 6.30 | 94,677 | 83% | ||
4275 Shackleford Court | Fee | 100% | 1985 | 2.86 | 32,280 | 98% | ||
5755 Peachtree Industrial Blvd | Fee | 100% | 1997 | 6.00 | 50,000 | 100% | ||
Roswell, GA | ||||||||
1357 Hembree Road | Fee | 100% | 1999 | 5.62 | 51,189 | 97% | ||
10745 Westside Parkway | Fee | 100% | 1995 | 5.00 | 58,093 | 100% | ||
Arlington Heights, IL | ||||||||
Atrium II | Fee | 100% | 1986 | 6.55 | 100,952 | 100% | ||
Downers Grove, IL | ||||||||
Executive Towers I | Fee | 100% | 1983 | 6.33 | 204,701 | 92% | ||
Executive Towers II | Fee | 100% | 1984 | 6.33 | 224,206 | 84% | ||
Executive Towers III | Fee | 100% | 1987 | 6.33 | 222,400 | 95% | ||
Lake Forest, IL | ||||||||
One Conway Park | Fee | 100% | 1989 | 8.97 | 102,579 | 96% | ||
Lisle, IL | ||||||||
Central Park of Lisle 1 | Fee | 50% | [1] | 1990 | 8.88 | 345,200 | 96% | |
Central Park of Lisle 2 | Fee | 50% | [1] | 1999 | 8.36 | 303,246 | 94% | |
Westmont, IL | ||||||||
Oakmont Circle Office | Fee | 100% | 1990 | 6.90 | 115,737 | 100% | ||
Carmel, IN | ||||||||
Hamilton Crossing Bldg 2 | Fee | 100% | 1997 | 5.10 | 33,784 | 100% | ||
Hamilton Crossing Bldg 4 | Fee | 100% | 1999 | 5.80 | 84,374 | 100% | ||
Greenwood, IN | ||||||||
South Park Bldg 1 | Fee | 100% | 1989 | 5.40 | 39,715 | 63% | ||
South Park Bldg 3 | Fee | 100% | 1990 | 3.25 | 36,082 | 92% | ||
Indianapolis, IN | ||||||||
Hamilton Crossing Bldg 3 | Fee | 100% | 2000 | 8.63 | 141,812 | 73% | ||
8465 Katc 2-story | Fee | 100% | 1983 | 1.31 | 28,532 | 100% | ||
F.C. Tucker | Fee | [3] | 100% | 1978 | 4.70 | 4,840 | 100% | |
8555 Katc 4-story | Fee | [3] | 100% | 1985 | 5.42 | 75,545 | 100% | |
3520 Commerce Crossing | Fee | 100% | 1976 | 2.69 | 30,900 | 100% | ||
Park 100 Bldg 110 | Fee | 50% | [1] | 1987 | 4.70 | 35,700 | 7% | |
One North Capitol | Fee | [4] | 100% | 1980 | 0.34 | 161,984 | 98% | |
Park 100 Bldg 34 | Fee | 100% | 1979 | 2.00 | 22,481 | 95% | ||
Park 100 Bldg 116 | Fee | 100% | 1988 | 5.28 | 35,713 | 100% | ||
Park 100 Bldg 118 | Fee | 100% | 1988 | 6.50 | 35,700 | 66% | ||
Park 100 Bldg 119 | Fee | 100% | 1989 | 6.50 | 53,300 | 100% | ||
Park 100 Bldg 124 | Fee | 50% | [1] | 1992 | 3.88 | 48,000 | 100% | |
Park 100 Bldg 132 | Fee | 100% | 1997 | 4.40 | 27,600 | 100% | ||
Woodland Corp Centre I | Fee | 100% | 1998 | 6.00 | 77,186 | 100% | ||
Woodland Corporate Center II | Fee | 100% | 1999 | 5.25 | 60,000 | 95% | ||
One Parkwood | Fee | 100% | 1989 | 5.93 | 109,069 | 100% |
Two Parkwood | Fee | 100% | 1996 | 5.96 | 94,177 | 100% | |
Three Parkwood | Fee | 100% | 1997 | 6.24 | 122,839 | 100% | |
Four Parkwood | Fee | 100% | 1998 | 5.90 | 133,086 | 100% | |
Five Parkwood | Fee | 100% | 1999 | 3.37 | 133,758 | 99% | |
Six Parkwood | Fee | 100% | 2000 | 6.10 | 199,284 | 90% | |
Seven Parkwood | Fee | 50% | [1] | 2000 | 4.40 | 87,318 | 100% |
Software Artistry | Fee | 100% | 1998 | 6.90 | 108,273 | 100% | |
Woodland Corp Center III | Fee | 100% | 1999 | 6.03 | 65,500 | 94% | |
Woodland Corp Ctr IV | Fee | 100% | 2000 | 6.40 | 90,000 | 83% | |
8440 Woodfield | Fee | 100% | 1987 | 7.50 | 117,818 | 99% | |
8425 Woodfield | Fee | 100% | 1989 | 13.30 | 259,777 | 93% | |
Bloomington, MN | |||||||
Alpha Business Ctr I&II | Fee | 100% | 1980 | 13.57 | 41,581 | 90% | |
Norman Center 2 | Fee | 100% | 1970 | 6.23 | 62,301 | 100% | |
Norman Center 4 | Fee | 100% | 1967 | 4.27 | 45,332 | 100% | |
Norman Pointe I | Fee | 100% | 2000 | 4.00 | 210,000 | 22% | |
Burnsville, MN | |||||||
Professional Plaza I | Fee | 100% | 1986 | 2.80 | 38,033 | 72% | |
Golden Valley, MN | |||||||
Edina Realty | Fee | 100% | 1965 | 1.93 | 24,080 | 100% | |
North Star Title | Fee | 100% | 1965 | 3.41 | 42,479 | 49% | |
Tyrol West | Fee | 100% | 1968 | 2.98 | 37,098 | 66% | |
Minnetonka, MN | |||||||
10801 Red Circle Dr. | Fee | 100% | 1977 | 4.00 | 60,078 | 100% | |
Plymouth, MN | |||||||
Westpoint Business Ctr | Fee | 100% | 1978 | 1.28 | 16,708 | 100% | |
St. Louis Park, MN | |||||||
5219 Building | Fee | 100% | 1965 | 0.73 | 9,141 | 87% | |
North Plaza | Fee | 100% | 1966 | 2.26 | 28,693 | 96% | |
1600 Tower | Fee | 100% | 2000 | 3.00 | 248,541 | 39% | |
South Plaza | Fee | 100% | 1966 | 2.68 | 33,370 | 73% | |
Travelers Express Tower | Fee | 100% | 1987 | 5.40 | 237,643 | 87% | |
Creve Couer, MO | |||||||
Twin Oaks | Fee | 100% | 1995 | 5.91 | 85,071 | 92% | |
Earth City, MO | |||||||
3322 NGIC | Fee | 100% | 1987 | 6.61 | 112,000 | 100% | |
Maryland Heights, MO | |||||||
Riverport Tower | Fee | 100% | 1991 | 20.40 | 317,891 | 100% | |
St. Louis, MO | |||||||
3300 Pointe 70 | Fee | 100% | 1989 | 6.61 | 104,583 | 100% | |
Laumeier I | Fee | 100% | 1987 | 4.26 | 114,037 | 100% | |
Laumeier II | Fee | 100% | 1988 | 4.64 | 113,308 | 99% | |
Laumeier IV | Fee | 100% | 1987 | 2.24 | 62,842 | 100% | |
500-510 Maryville Centre | Fee | 100% | 1984 | 9.27 | 165,544 | 89% | |
530 Maryville Centre | Fee | 100% | 1990 | 5.31 | 107,957 | 91% | |
550 Maryville Centre | Fee | 100% | 1988 | 4.55 | 97,109 | 95% | |
635-645 Maryville Centre | Fee | 100% | 1987 | 8.78 | 148,307 | 100% | |
655 Maryville Centre | Fee | 100% | 1994 | 6.26 | 90,499 | 100% | |
540 Maryville Centre | Fee | 100% | 1990 | 5.23 | 107,970 | 95% | |
625 Maryville Centre | Fee | 49% | [1] | 1994 | 6.26 | 101,576 | 51% |
520 Maryville Centre | Fee | 100% | 1998 | 5.30 | 115,453 | 100% | |
700 Maryville Centre | Fee | 100% | 1999 | 5.70 | 215,564 | 100% | |
533 Maryville Centre | Fee | 100% | 2000 | 5.44 | 125,296 | 100% | |
Express Scripts HQ | Fee | 100% | 1999 | 11.40 | 141,774 | 100% | |
Westmark | Fee | 100% | 1987 | 6.95 | 132,736 | 100% | |
Westport Place | Fee | 100% | 1999 | 6.03 | 95,007 | 100% | |
Westview Place | Fee | 100% | 1988 | 2.69 | 124,381 | 99% | |
Cary, NC | |||||||
200 Regency Forest Dr. | Fee | 100% | 1999 | 23.95 | 102,561 | 100% | |
100 Regency Forest Dr. | Fee | 100% | 1997 | 12.30 | 103,597 | 99% | |
6501 Weston Parkway | Fee | 100% | 1996 | 8.52 | 93,990 | 100% | |
Morrisville, NC | |||||||
2400 Perimeter Park Dr. | Fee | 100% | 1999 | 5.50 | 59,629 | 100% | |
1400 Perimeter Park Drive | Fee | 100% | 1991 | 3.33 | 44,916 | 100% | |
1500 Perimeter Park Drive | Fee | 100% | 1996 | 5.47 | 79,745 | 100% | |
1600 Perimeter Park Drive | Fee | 100% | 1994 | 5.70 | 94,897 | 100% |
1800 Perimeter Park Drive | Fee | 100% | 1994 | 3.94 | 54,434 | 100% | ||
2000 Perimeter Park Drive | Fee | 100% | 1997 | 4.25 | 55,906 | 100% | ||
1700 Perimeter Center West | Fee | 100% | 1997 | 5.08 | 77,239 | 100% | ||
3900 N. Paramount Parkway | Fee | 100% | 1998 | 5.88 | 100,987 | 100% | ||
3900 S.Paramount Pkwy | Fee | 100% | 2000 | 5.88 | 119,170 | 100% | ||
5200 Paramount Pkwy. | Fee | 100% | 1999 | 12.19 | 154,853 | 100% | ||
3500 Paramount Pkwy | Fee | 100% | 1999 | 3.36 | 61,603 | 100% | ||
Raleigh, NC | ||||||||
5520 Capital Ctr Dr | Fee | 100% | 1993 | 3.67 | 37,630 | 100% | ||
801 Jones Franklin Rd | Fee | 100% | 1995 | 4.09 | 69,217 | 100% | ||
Brook Forest I | Fee | 100% | 2000 | 4.88 | 65,721 | 0% | ||
Beachwood, OH | ||||||||
One Corporate Exchange | Fee | 100% | 1989 | 5.30 | 88,376 | 99% | ||
Corporate Place | Fee | 100% | 1988 | 4.50 | 85,845 | 88% | ||
Blue Ash, OH | ||||||||
Huntington Bank Building | Fee | 100% | 1986 | 0.94 | 3,235 | 100% | ||
Lake Forest Place | Fee | 100% | 1985 | 13.50 | 217,264 | 98% | ||
Westlake Center | Fee | 100% | 1981 | 11.76 | 180,087 | 88% | ||
Cincinnati, OH | ||||||||
One Ashview Place | Fee | 100% | 1989 | 6.88 | 120,924 | 100% | ||
Blue Ash Office Ctr VI | Fee | 100% | 1989 | 2.96 | 36,138 | 73% | ||
Zussman Bldg | Fee | [5] | 100% | 1986 | 0.69 | 90,127 | 86% | |
312 Elm | Fee | 100% | 1992 | 1.10 | 378,786 | 99% | ||
Executive Plaza I | Fee | 100% | 1980 | 5.83 | 88,481 | 100% | ||
Executive Plaza II | Fee | 100% | 1981 | 5.02 | 88,885 | 100% | ||
Executive Plaza III | Fee | 100% | 1998 | 5.60 | 89,341 | 99% | ||
Dun & Bradstreet Bldg | Fee | 100% | 1972 | 8.34 | 38,000 | 100% | ||
8790 Governor's Hill | Fee | 100% | 1985 | 5.00 | 58,177 | 86% | ||
8700 Governor's Hill | Fee | 100% | 1985 | 4.98 | 58,617 | 100% | ||
8800 Governor's Hill | Fee | 100% | 1985 | 2.13 | 28,705 | 100% | ||
8600 Governor's Hill | Fee | 100% | 1986 | 10.79 | 202,106 | 99% | ||
Kenwood Executive Center | Fee | 100% | 1981 | 3.46 | 54,119 | 98% | ||
8230 Kenwood Commons | Fee | 75% | [1] | 1986 | 2.09 | 45,017 | 100% | |
8280 Kenwood Commons | Fee | 75% | [1] | 1986 | 2.09 | 44,774 | 99% | |
Kenwood MOB-Jewish | Fee | 100% | 1999 | 7.50 | 80,074 | 100% | ||
Ohio National | Fee | 100% | 1996 | 9.00 | 214,272 | 99% | ||
Pfeiffer Woods | Fee | 100% | 1998 | 11.30 | 116,364 | 100% | ||
312 Plum | Fee | 100% | 1987 | 0.69 | 230,489 | 90% | ||
Remington Park Bldg A | Fee | 100% | 1982 | 3.20 | 38,473 | 86% | ||
Remington Park Bldg B | Fee | 100% | 1982 | 3.20 | 38,244 | 100% | ||
Triangle Office Park | Fee | 100% | 1965/1985 | 15.64 | 172,650 | 79% | ||
Columbus, OH | ||||||||
One Easton Oval | Fee | 100% | 1998 | 7.69 | 125,031 | 100% | ||
Two Easton Oval | Fee | 100% | 1996 | 7.66 | 128,690 | 100% | ||
Easton Plaza One | Fee | 100% | 2000 | 5.12 | 107,083 | 47% | ||
1000 Polaris Parkway | Fee | 100% | 1992 | 8.42 | 72,588 | 100% | ||
Xerox Bldg-5555 Parkcenter Cir | Fee | 100% | 1992 | 6.09 | 84,167 | 100% | ||
Dublin, OH | ||||||||
Metrocenter III | Fee | 100% | 1983 | 5.91 | 75,342 | 100% | ||
Scioto Corporate Center | Fee | 100% | 1987 | 7.58 | 57,242 | 75% | ||
Qwest (LCI) | Fee | 100% | 1990 | 13.00 | 164,639 | 100% | ||
Sterling 1 | Fee | 100% | 1990 | 7.66 | 106,300 | 100% | ||
4700 Lakehurst Ct | Fee | 100% | 1994 | 3.86 | 49,809 | 93% | ||
Sterling 2 | Fee | 100% | 1995 | 3.33 | 57,660 | 100% | ||
John Alden Life Ins. | Fee | 100% | 1995 | 6.51 | 104,016 | 100% | ||
5555 Glendon Court | Fee | 100% | 1995 | 10.95 | 132,939 | 100% | ||
Sterling 3 | Fee | 100% | 1996 | 3.56 | 64,500 | 100% | ||
Compmanagement | Fee | 100% | 1997 | 5.60 | 68,700 | 100% | ||
Sterling 4 | Fee | 100% | 1998 | 3.10 | 94,219 | 100% | ||
Parkwood Place | Fee | 100% | 1997 | 9.08 | 156,000 | 100% | ||
Nationwide | Fee | 100% | 1996 | 17.90 | 315,102 | 100% | ||
Emerald II | Fee | 100% | 1998 | 3.21 | 45,716 | 100% | ||
Atrium II, Phase I | Fee | 100% | 1998 | 11.04 | 145,064 | 100% | ||
Atrium II, Phase II | Fee | 100% | 1999 | 10.42 | 145,512 | 100% | ||
Blazer I | Fee | 100% | 1999 | 5.65 | 71,491 | 100% | ||
Parkwood II | Fee | 100% | 1999 | 8.98 | 164,900 | 100% | ||
Blazer II | Fee | 100% | 2000 | 5.93 | 85,082 | 86% | ||
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Independence, OH | ||||||||
Corporate Plaza I | Fee | 100% | 1989 | 6.10 | 114,028 | 91% | ||
Corporate Plaza II | Fee | 100% | 1991 | 4.90 | 103,834 | 95% | ||
Freedom Square I | Fee | 100% | 1980 | 2.59 | 40,710 | 91% | ||
Freedom Square II | Fee | 100% | 1987 | 7.41 | 116,665 | 94% | ||
Freedom Square III | Fee | 100% | 1997 | 2.00 | 71,025 | 98% | ||
6111 Oak Tree | Fee | 100% | 1979/1995 | 5.00 | 70,906 | 98% | ||
Park Center Bldg I | Fee | 100% | 1998 | 6.68 | 135,542 | 100% | ||
Park Center Bldg 2 | Fee | 100% | 1999 | 6.67 | 142,150 | 97% | ||
Park Center Bldg 3 | Fee | 100% | 2000 | 6.67 | 133,958 | 34% | ||
Mason, OH | ||||||||
Deerfield Crossing Bldg 1 | Fee | 100% | 1999 | 8.50 | 159,624 | 92% | ||
Governor's Pointe 4770 | Fee | 100% | 1986 | 4.50 | 76,037 | 84% | ||
Governor's Pointe 4705 | Fee | 100% | 1988 | 7.50 | 140,984 | 100% | ||
Governor's Pointe 4605 | Fee | 100% | 1990 | 8.00 | 178,725 | 100% | ||
Governor's Pointe 8990 | Fee | 100% | 1997 | 5.00 | 78,240 | 100% | ||
Governor's Pointe 4660 | Fee | 100% | 1997 | 4.65 | 76,902 | 89% | ||
Governor's Pointe 4680 | Fee | 100% | 1998 | 9.80 | 128,355 | 100% | ||
Mayfield Heights, OH | ||||||||
Landerbrook Corp. Center I | Fee | 100% | 1997 | 8.00 | 112,886 | 98% | ||
Landerbrook Corp. Center II | Fee | 100% | 1998 | 5.74 | 103,300 | 97% | ||
Milford, OH | ||||||||
Park 50 Bldg 17 | Fee | 100% | 1985 | 8.19 | 70,644 | 91% | ||
New Albany, OH | ||||||||
Express Med | Fee | 50% | [1] | 1998 | 8.81 | 103,606 | 100% | |
Novus Services, Inc. | Fee | 100% | 1998 | 51.70 | 326,481 | 100% | ||
6525 W. Campus Oval | Fee | 50% | [1] | 1999 | 4.40 | 66,000 | 88% | |
North Olmsted, OH | ||||||||
Corporate Center I | Fee | 100% | 1985 | 5.33 | 99,260 | 99% | ||
Corporate Center II | Fee | 100% | 1987 | 5.32 | 104,402 | 94% | ||
Corporate Center III | Fee | 100% | 1999 | 1.80 | 68,000 | 93% | ||
Pepper Pike, OH | ||||||||
Corporate Circle | Fee | 100% | 1983 | 6.65 | 120,475 | 76% | ||
Seven Hills, OH | ||||||||
Rock Run - North | Fee | 100% | 1984 | 5.00 | 62,565 | 99% | ||
Rock Run - Center | Fee | 100% | 1985 | 5.00 | 62,223 | 100% | ||
Rock Run - South | Fee | 100% | 1986 | 5.00 | 62,989 | 92% | ||
Westerville, OH | ||||||||
Liebert | Fee | 100% | 1999 | 5.65 | 67,657 | 100% | ||
Brentwood, TN | ||||||||
Creekside Crossing One | Fee | 100% | 1998 | 5.35 | 117,382 | 100% | ||
Creekside Crossing Two | Fee | 100% | 1999 | 5.35 | 116,390 | 65% | ||
Franklin, TN | ||||||||
341 Cool Springs Blvd | Fee | 100% | 1999 | 18.18 | 87,790 | 71% | ||
Nashville, TN | ||||||||
Three Lakeview | Fee | 100% | 1999 | 7.11 | 149,700 | 51% | ||
One Lakeview Place | Fee | 100% | 1986 | 6.46 | 114,972 | 54% | ||
Two Lakeview Place | Fee | 100% | 1988 | 6.45 | 114,586 | 62% | ||
545 Mainstream Dr | Fee | 100% | 1983 | 8.91 | 86,676 | 97% | ||
Plano, TX | ||||||||
Metasolv Building Phase I | Fee | 100% | 1997 | 5.40 | 52,000 | 100% | ||
Metasolv Building Phase II | Fee | 100% | 1999 | 5.40 | 100,000 | 100% | ||
Retail
|
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Alpharetta, GA | ||||||||
11835 Alpharetta Highway | Fee | 100% | 1994 | 2.25 | 15,000 | 100% | ||
Atlanta, GA | ||||||||
2071 N. Druid Hills Drive | Fee | 100% | 1968 | 0.59 | 4,115 | 100% | ||
Norcross, GA | ||||||||
1480 Beaver Ruin Road | Fee | 100% | 1989 | 2.08 | 14,992 | 100% | ||
Bloomington, IL | ||||||||
Lakewood Plaza | Fee | 100% | 1987 | 11.23 | 87,056 | 92% | ||
Champaign, IL | ||||||||
Market View Shopping Ctr. | Fee | 100% | 1985 | 8.50 | 86,553 | 84% |
Carmel, IN | ||||||||
Hamilton Crossing Retail Bld 1 | Fee | 100% | 1999 | 9.00 | 82,394 | 95% | ||
Fort Wayne, IN | ||||||||
Coldwater Crossing | Fee | 100% | 1990 | 35.38 | 246,365 | 97% | ||
Indianapolis, IN | ||||||||
Cub Center | Fee | 100% | 1986 | 6.83 | 60,136 | 95% | ||
Castleton Marketplace | Fee | 100% | 1984 | 4.50 | 50,374 | 80% | ||
First Indiana Branch | Fee | 100% | 1988 | 1.00 | 2,400 | 100% | ||
Park 100 Bldg 121, Retail | Fee | 100% | 1989 | 2.27 | 19,716 | 70% | ||
Florence, KY | ||||||||
Sofa Express Florence | Fee | 100% | 1997 | 1.78 | 20,250 | 100% | ||
Cincinnati, OH | ||||||||
Eastgate Square | Fee | 100% | 1990/1996 | 11.60 | 94,182 | 94% | ||
Garden Ridge | Fee | 100% | 1998 | 13.94 | 141,500 | 100% | ||
Kohl's Department Store | Fee | 100% | 1994 | 12.00 | 80,684 | 100% | ||
Sofa Express - Gov. Plaza | Fee | 100% | 1995 | 1.13 | 15,000 | 100% | ||
Office Max | Fee | 100% | 1995 | 2.25 | 23,484 | 100% | ||
Linens n Things-Gov Plaza | Fee | 100% | 2000 | 3.03 | 34,180 | 100% | ||
Fountain Place | Fee | 14% | [1] | 1997 | 1.98 | 206,315 | 100% | |
Governors Plaza | Fee | 100% | 1990 | 20.75 | 185,570 | 100% | ||
King's Auto Mall I | Fee | 100% | 1990 | 5.68 | 52,715 | 100% | ||
King's Mall Retail Ctr II | Fee | 100% | 1988 | 8.90 | 67,284 | 100% | ||
Tri-county Marketplace | Fee | 100% | 1998 | 10.36 | 74,246 | 100% | ||
Western Hills Marketplace | Fee | 100% | 1998 | 10.50 | 148,650 | 100% | ||
Dublin, OH | ||||||||
Tuttle Retail Center | Fee | 100% | 1995/1996 | 13.44 | 185,718 | 100% | ||
Loveland, OH | ||||||||
Montgomery Crossing Phase I | Fee | 100% | 1993 | 1.90 | 21,008 | 100% | ||
Montgomery Crossing Phase II | Fee | 100% | 1994 | 7.00 | 68,648 | 100% | ||
Mason, OH | ||||||||
Bigg's Supercenter | Fee | 100% | 1996 | 14.00 | 198,940 | 100% | ||
Lowes | Fee | 100% | 1997/1999 | 17.90 | 161,397 | 100% | ||
Woodlawn, OH | ||||||||
Glenwood Crossing | Fee | 100% | 1999 |
14.06
|
34,900
|
100% | ||
Total In-Service |
6,680.08
|
100,961,603
|
94% |
Under Development
|
|||||||
Industrial
|
|||||||
Hollywood, FL | |||||||
4140 at Port 95 | Fee | 100% | N/A | 8.58 | 134,980 | 0% | |
Lakeland, FL | |||||||
Lakeland Interstate Park I | Fee | 100% | N/A | 9.95 | 166,800 | 0% | |
Orlando, FL | |||||||
Lee Vista Service Center I | Fee | 100% | N/A | 5.30 | 52,800 | 0% | |
Chase BTS-Orlando | Fee | 100% | N/A | 5.60 | 61,413 | 100% | |
Tampa, FL | |||||||
Fairfield Distribution Ctr VI | Fee | 100% | N/A | 7.80 | 156,500 | 0% | |
Fairfield Distribution Ctr VII | Fee | 100% | N/A | 4.81 | 90,640 | 0% | |
Alpharetta, GA | |||||||
Northmeadow SC II | Fee | 100% | N/A | 7.96 | 89,618 | 0% | |
Braselton, GA | |||||||
Braselton Quad I | Fee | 100% | N/A | 27.50 | 506,200 | 100% | |
Duluth, GA | |||||||
Sugarloaf Office V | Fee | 100% | N/A | 5.82 | 61,440 | 0% | |
McDonough, GA | |||||||
Liberty III | Fee | 100% | N/A | 31.28 | 506,700 | 0% |
Indianapolis, IN | |||||||
Park 100 Bldg 139 | Fee | 100% | N/A | 6.30 | 60,224 | 100% | |
Park 100 Bldg 138 | Fee | 100% | N/A | 15.98 | 286,960 | 100% | |
Park 100 Bldg 140 | Fee | 100% | N/A | 23.45 | 414,036 | 100% | |
Lebanon, IN | |||||||
Lebanon Building 10 | Fee | 100% | N/A | 12.86 | 226,756 | 100% | |
Eagan, MN | |||||||
Eagan Pointe Business Center I | Fee | 100% | N/A | 6.32 | 128,000 | 100% | |
Bridgeton, MO | |||||||
Dukeport IX | Fee | 100% | N/A | 24.75 | 448,975 | 0% | |
Lewis Center, OH | |||||||
Orange Point #73 | Fee | 100% | N/A | 6.22 | 74,237 | 10% | |
Orange Point 144 | Fee | 100% | N/A | 9.94 | 145,712 | 45% | |
Middletown, OH | |||||||
Monroe Business Center 2 | Fee | 100% | N/A | 25.89 | 525,000 | 100% | |
West Chester, OH | |||||||
World Park at Union Ctr 9 | Fee | 100% | N/A | 15.85 | 316,800 | 0% | |
Falls Township, PA | |||||||
GM-Philadelphia BTS | Fee | 100% | N/A | 43.54 | 394,450 | 100% | |
Nashville, TN | |||||||
Riverview Business Center II | Fee | 100% | N/A | 4.84 | 59,398 | 0% | |
Roanoke, TX | |||||||
General Motors at Alliance | Fee | 100% | N/A | 26.00 | 394,450 | 100% | |
Office
|
|||||||
Lake Mary, FL | |||||||
Northpoint III | Fee | 100% | N/A | 8.79 | 108,500 | 0% | |
Sunrise, FL | |||||||
Sawgrass Commerce Ctr Phase II | Fee | 94.7% | [1] | N/A | 7.73 | 69,872 | 86% |
Weston, FL | |||||||
Beacon Pointe at Weston Ph II | Fee | 50% | [1] | N/A | 5.82 | 97,178 | 64% |
Alpharetta, GA | |||||||
Brookside Phase II | Fee | 100% | N/A | 10.80 | 133,390 | 0% | |
Lawrenceville, GA | |||||||
Huntcrest Phase II | Fee | 50% | [1] | N/A | 6.18 | 103,712 | 52% |
Duluth, MN | |||||||
United Health Care | Fee | 100% | N/A | 20.00 | 154,865 | 100% | |
St. Louis, MO | |||||||
555 Maryville Centre | Fee | 100% | N/A | 5.43 | 126,152 | 34% | |
Unigraphics | Fee | 100% | N/A | 8.74 | 122,646 | 100% | |
Cary, NC | |||||||
One Gateway Centre | Fee | [6] | N/A | 5.85 | 75,528 | 0% | |
Two Gateway Centre | Fee | [6] | N/A | 5.90 | 70,340 | 0% | |
Regency Forest III | Fee | 100% | N/A | 8.47 | 109,570 | 100% | |
Chapel Hill, NC | |||||||
Governors Village - Office | Fee | 100% | N/A | 3.88 | 54,400 | 36% | |
Governors Village Banking Ctr | Fee | 100% | N/A | 0.82 | 3,009 | 100% | |
Morrisville, NC | |||||||
Tekelec II | Fee | 100% | N/A | 12.36 | 155,037 | 100% | |
Raleigh, NC | |||||||
Crabtree Overlook | Fee | 100% | N/A | 8.70 | 154,475 | 35% | |
Cincinnati, OH | |||||||
Alliance Woods | Fee | 60% | [7] | N/A | 7.10 | 190,733 | 100% |
Pfeiffer Place | Fee | 100% | N/A | 8.05 | 157,566 | 0% | |
Dublin, OH | |||||||
Emerald III | Fee | 100% | N/A | 8.17 | 128,280 | 0% | |
Nationwide Bldg A | Fee | 100% | N/A | 22.65 | 401,500 | 100% | |
Emerald IV | Fee | 100% | N/A | 5.30 | 73,750 | 0% | |
Mason, OH | |||||||
Deerfield Crossing Bldg 2 | Fee | 100% | N/A | 7.50 | 159,624 | 0% |
Mayfield Heights, OH | ||||||
Landerbrook Corp. Center III | Fee | 100% | N/A |
6.17
|
103,311
|
0% |
Total Under Development |
520.95
|
8,055,527
|
56% | |||
Total In-Service and Under Development |
7,201.03
|
109,017,130
|
91% |
[1] | The Company retains the indicated effective ownership interest in an entity which owns the building. The Company shares in the profit or loss from such building in accordance with the Companys ownership |
[2] | These buildings are owned by a partnership in which the Company is a partner. The Company owns a 10% capital interest in the partnership and receives a 50% interest in the residual cash flow after payment of a 9% preferred return to the other partner on its capital interest |
[3] | The Company owns the building and has a leasehold interest in the land underlying this building with a lease term expiring in 2048 or later. |
[4] | These are properties for which there are loans to owners which fully encumber the properties. Under the terms of the loans, the Company effectively receives all income and economic value from the properties. As a result, the properties are accounted for as owned properties. |
[5] | The Company has a leasehold interest in the building and the underlying land with a lease term expiring June 2020. The Company has an option to purchase the fee interest in the property throughout the term of the lease. |
[6] | This building is owned by a partnership in which the Company's ownership percentage will be determined upon the completion of the construction of the building. |
[7] | This building is owned by a partnership in which the Company owns a 60% interest. The Company receives an 11% cumulative preferred return on its equity, with any excess cash flow after debt service received in accordance with the ownership interest. |
Item 3. Legal Proceedings
The Company is not party to any claims or litigation that it believes the results, individually or in the aggregate, will have a material adverse affect on its business, financial position or results of operations.
Item 4. Submission of Matters to a Vote of Security Holders
No matters were submitted to a vote of security holders during the fourth quarter of the year ended December 31, 2000.
PART II
Item 5. Market for the Registrants Common Equity and Related Stockholder Matters
The Companys common shares are listed for trading on the New York Stock Exchange, symbol DRE. The following table sets forth the high and low sales prices of the common stock for the periods indicated and the dividend paid per share during each such period. Comparable cash dividends are expected in the future. As of March 5, 2001, there were 9,946 record holders of common shares.
2000
|
1999
|
|||||||||||
Quarter Ended
|
High
|
Low
|
Dividend
|
High
|
Low
|
Dividend
|
||||||
December 31 | $25.56 | $22.00 | $.43 | $20.00 | $16.63 | $.39 | ||||||
September 30 | 25.75 | 22.63 | .43 | 22.94 | 18.25 | .39 | ||||||
June 30 | 23.88 | 18.63 | .39 | 24.25 | 20.13 | .34 | ||||||
March 31 | 20.75 | 17.75 | .39 | 23.69 | 20.50 | .34 |
On
January 31, 2001, the Company declared a quarterly cash dividend of $.43 per
share payable on February 28, 2001, to common shareholders of record on
February 12, 2001. Following is a summary
of the taxable nature of the Companys dividends for the three years ended
December 31:
2000
|
1999
|
1998
|
|
Total dividends paid per share |
$1.64
|
$1.46
|
$1.28
|
Percent taxable as ordinary income | 85.59% | 94.88% | 96.33% |
Percent taxable as long-term capital gains | 3.52% | 1.30% | - |
Percent non-taxable as return of capital |
10.89%
|
3.82%
|
3.67%
|
100.00%
|
100.00%
|
100.00%
|
Dividends per common share of $1.26, $1.23 and $1.09 were required for the Company to maintain its REIT status in 2000, 1999, and 1998, respectively.
See Item 10-Directors and Executive Officers of the Registrant for a description of certain shares of common stock issued to non-employee directors in non-registered transactions pursuant to Section 4(2) under the Securities Act of 1933, as amended.
Item 6. Selected Consolidated Financial Data
The following sets forth selected consolidated financial and operating information on a historical basis for the Company for each of the years in the five-year period ended December 31, 2000. The following information should be read in conjunction with Item 7, Managements Discussion and Analysis of Financial Condition and Results of Operations and Item 8, Financial Statements and Supplementary Data included in this Form 10-K (in thousands, except per share amounts):
2000
|
1999
|
1998
|
1997
|
1996
|
|
Results of Operations: | |||||
Revenues: | |||||
Rental Operations | $711,826 | $535,563 | $348,625 | $229,702 | $162,160 |
Service Operations |
82,799
|
54,031
|
24,716
|
22,378
|
19,929
|
Total Revenues |
$794,625
|
$589,594
|
$373,341
|
$252,080
|
$182,089
|
Net Income Available for Common Shares |
$212,958
|
$139,636
|
$90,871
|
$65,999
|
$50,872 |
Per Share Data (1): | |||||
Net Income per Common Share: | |||||
Basic | $1.68 | $1.33 | $1.13 | $.99 | $.91 |
Diluted | 1.66 | 1.32 | 1.12 | .98 | .90 |
Dividends paid per Common Share | 1.64 | 1.46 | 1.28 | 1.10 | 1.00 |
Weighted Average Common Shares Outstanding | 126,836 | 104,884 | 80,704 | 66,427 | 56,134 |
Weighted Average Common and Dilutive Outstanding Potential Common Shares | 147,441 | 120,511 | 92,468 | 74,993 | 64,398 |
Balance Sheet Data (at December 31): | |||||
Total Assets | $5,460,036 | $5,486,238 | $2,853,653 | $2,176,214 | $1,361,142 |
Total Debt | 1,973,215 | 2,113,476 | 1,007,317 | 720,119 | 525,815 |
Total Preferred Equity | 608,874 | 609,998 | 360,000 | 225,000 | 75,000 |
Total Shareholders Equity | 2,712,890 | 2,668,596 | 1,570,112 | 1,234,681 | 754,932 |
Total Common Shares Outstanding (1) | 127,932 | 125,823 | 86,053 | 76,065 | 58,972 |
Other Data: | |||||
Funds From Operations (2) | $317,360 | $234,273 | $154,074 | $107,256 | $76,079 |
Cash Flow Provided by (Used by): | |||||
Operating activities | $449,130 | $315,635 | $221,188 | $159,195 | $95,135 |
Investing activities | (97,752) | (740,269) | (703,814) | (597,324) | (276,748) |
Financing activities | (330,952) | 436,449 | 479,223 | 443,148 | 181,220 |
(1) | Information for all five years reflects the two-for-one stock split effected in August 1997. | ||
(2) | Funds From Operations is defined by the National Association of Real Estate Investment Trusts as net income or loss, excluding gains or losses from debt restructuring and sales of depreciated property, plus operating property depreciation and amortization and adjustments for minority interest and unconsolidated companies on the same basis. Funds From Operations does not represent cash flow from operations as defined by generally accepted accounting principles, should not be considered as an alternative to net income as an indicator of the Companys operating performance, and is not indicative of cash available to fund all cash flow needs. | ||
Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations
Overview
The Companys income from rental operations is substantially influenced by the supply and demand for the Companys rental space in its primary markets, its ability to maintain occupancy rates and increase rental rates on its in-service portfolio and to continue development and acquisition of additional rental properties.
The Companys primary markets have continued to offer strong and stable local economies and have provided attractive new development opportunities because of their central location, established manufacturing base, skilled work force and moderate labor costs. The Companys occupancy rate of its in-service portfolio was 93.6% at December 31, 2000. The Company expects to continue to maintain its overall occupancy levels and also expects to be able to increase rental rates as leases are renewed or new leases are executed. This combination should improve the Companys results of operations from its in-service properties. The Companys strategy for continued growth includes developing and acquiring additional rental properties in its primary markets.
The Company tracks same property performance which compares those properties that were in-service for all of a two-year period. In 2000, net operating income from the same property portfolio increased 4.2% over 1999, compared to 3.2% growth in 1999 over 1998.
The following table sets forth information regarding the Companys in-service portfolio of rental properties as of December 31, 2000 (square feet in thousands):
Total
Square Feet
|
Percent of Total Square Feet |
Percent
Occupied
|
||||||
Type
|
2000
|
1999
|
2000
|
1999
|
2000
|
1999
|
||
Industrial | ||||||||
Service Centers | 13,519 | 12,762 | 13.4% | 13.8% | 92.3% | 93.5% | ||
Bulk | 63,454 | 58,428 | 62.8% | 63.2% | 94.6% | 91.4% | ||
Office | ||||||||
Suburban | 20,644 | 17,767 | 20.4% | 19.2% | 91.1% | 91.5% | ||
CBD | 861 | 861 | .9% | .9% | 95.2% | 92.4% | ||
Retail |
2,484
|
2,684
|
2.5%
|
2.9%
|
97.8% | 95.1% | ||
Total |
100,962
|
92,502
|
100.0%
|
100.0%
|
93.6% | 91.9% |
The following table reflects the Companys in-service lease expiration schedule as of December 31, 2000, by product type indicating square footage and annualized net effective rents under expiring leases (in thousands, except per square foot amounts):
Total
|
Industrial
|
Office
|
Retail
|
|||||
Year
of Expiration |
Square Feet |
Rent
|
Square Feet |
Rent
|
Square Feet |
Rent
|
Square Feet |
Rent
|
2001 | 9,857 | $60,459 | 7,736 | $34,965 | 2,018 | $24,339 | 103 | $1,155 |
2002 | 9,917 | 61,757 | 7,999 | 38,268 | 1,846 | 22,474 | 72 | 1,015 |
2003 | 10,844 | 71,011 | 8,684 | 42,909 | 2,041 | 26,659 | 119 | 1,443 |
2004 | 10,531 | 71,259 | 8,203 | 39,552 | 2,239 | 30,471 | 89 | 1,236 |
2005 | 14,143 | 99,360 | 10,723 | 51,804 | 3,085 | 44,233 | 335 | 3,323 |
2006 | 8,570 | 53,264 | 7,022 | 31,350 | 1,517 | 21,523 | 31 | 391 |
2007 | 6,250 | 40,410 | 5,286 | 26,458 | 915 | 13,362 | 49 | 590 |
2008 | 5,590 | 34,918 | 4,489 | 20,016 | 1,044 | 14,269 | 57 | 633 |
2009 | 6,418 | 40,276 | 5,243 | 23,206 | 1,092 | 15,859 | 83 | 1,211 |
2010 | 5,859 | 47,653 | 3,923 | 19,250 | 1,649 | 25,939 | 287 | 2,464 |
Thereafter |
6,551
|
59,837
|
3,170
|
16,112
|
2,178
|
32,265
|
1,203
|
11,460
|
Total |
94,530
|
$640,204
|
72,478
|
$343,890
|
19,624
|
$271,393
|
2,428
|
$24,921
|
Total Portfolio Square feet |
100,962
|
76,973
|
21,505
|
2,484
|
||||
Annualized net effective rent per square foot |
$6.77
|
$4.74
|
$13.83
|
$10.26
|
The Company also expects to realize growth in earnings from rental operations through the development and acquisition of additional rental properties in its primary markets and the completion of the 8.1 million square feet of properties under development by the Company at December 31, 2000, over the next three quarters and thereafter. These properties under development should provide future earnings through Service Operations income upon sale or from rental operations growth as they are placed in service as follows (in thousands, except percent leased and stabilized returns):
Anticipated In-Service Date |
Square Feet |
Percent Leased |
Project Costs |
Stabilized Return |
Held for Rental: | ||||
1st Quarter 2001 | 1,659 | 52% | $93,159 | 11.4% |
2nd Quarter 2001 | 1,421 | 6% | 98,334 | 11.9% |
3rd Quarter 2001 | 1,021 | 6% | 44,518 | 11.6% |
Thereafter |
109
|
0% |
12,781
|
11.4% |
4,210
|
24% |
$248,792
|
11.6% | |
Build-to-Suit for Sale: | ||||
1st Quarter 2001 | 799 | 83% | $37,275 | |
2nd Quarter 2001 | 973 | 76% | 49,546 | |
3rd Quarter 2001 | 1,150 | 100% | 84,901 | |
Thereafter |
924
|
100% |
68,044
|
|
3,846
|
90% |
$239,766
|
||
Total |
8,056
|
56% |
$488,558
|
Merger With Weeks Corporation
In July 1999, Weeks Corporation (Weeks), a self-administered, self-managed geographically focused Real Estate Investment Trust (REIT) which operated primarily in the southeastern United States, was merged with and into Duke Realty Investments, Inc. (Duke). The combined company has continued under the name Duke-Weeks Realty Corporation (the Company). The total purchase price of Weeks aggregated approximately $1.9 billion, which included the assumption of the outstanding debt and liabilities of Weeks of approximately $775 million. The transaction was structured as a tax-free merger and was accounted for under the purchase method.
The following summarized pro forma unaudited information represents the combined historical operating results of Weeks and Duke with the appropriate purchase accounting adjustments, assuming the merger had occurred on January 1, 1998. The pro forma financial information presented is not necessarily indicative of what the Companys actual operating results would have been had Weeks and Duke constituted a single entity during such periods (in thousands, except per share amounts):
Years Ended December 31,
|
|||
2000 |
1999 |
1998 |
|
(Actual) | (Pro Forma) | (Pro Forma) | |
Rental income |
$711,826
|
$626,803
|
$502,030
|
Net income available for common shareholders |
$212,958
|
$158,156
|
$116,675
|
Weighted average common shares outstanding: | |||
Basic |
126,836
|
118,565
|
107,277
|
Diluted |
147,441
|
139,373
|
128,761
|
Net income per common share: | |||
Basic |
$1.68
|
$1.33
|
$1.09
|
Diluted |
$1.66
|
$1.32
|
$1.07
|
Results of OperationsA summary of the Companys operating results and property statistics for each of the years in the three-year period ended December 31, 2000, is as follows (in thousands, except number of properties and per share amounts):
2000
|
1999
|
1998
|
|
Rental Operations revenues | $711,826 | $535,563 | $348,625 |
Service Operations revenues | 82,799 | 54,031 | 24,716 |
Earnings from Rental Operations | 228,987 | 197,474 | 125,967 |
Earnings from Service Operations | 32,760 | 17,872 | 7,195 |
Operating income | 240,603 | 198,790 | 121,589 |
Net income available for common shares | 212,958 | 139,636 | 90,871 |
Weighted average common shares outstanding | 126,836 | 104,884 | 80,704 |
Weighted average common and dilutive potential common shares | 147,441 | 120,511 | 92,468 |
Basic net income per common share | $1.68 | $1.33 | $1.13 |
Diluted net income per common share | $1.66 | $1.32 | $1.12 |
Number of in-service properties at end of year | 913 | 865 | 453 |
In-service square footage at end of year | 100,962 | 92,502 | 52,028 |
Under development square footage at end of year | 8,056 | 9,876 | 7,241 |
Comparison of Year Ended December 31, 2000 to Year Ended December 31, 1999
Rental Operations
Rental Operations revenue increased to $711.8 million from $535.6 million for the year ended December 31, 2000, compared to the same period in 1999. This increase is primarily due to the increase in the number of in-service properties during the respective periods. As of December 31, 2000, the Company had 913 properties in service compared to 865 properties at December 31, 1999. The following is a summary of the Company's acquisition and development activity since January 1, 1999:
Buildings
|
Square Feet (in thousands) |
|
Properties owned as of: | ||
January 1, 1999 | 453 | 52,028 |
Weeks merger | 335 | 28,569 |
Acquisitions | 30 | 2,867 |
Developments placed in service | 68 | 10,928 |
Dispositions |
(21)
|
(1,890)
|
December 31, 1999 | 865 | 92,502 |
Acquisitions | 2 | 169 |
Developments placed in service | 75 | 11,546 |
Dispositions | (53) | (6,586) |
Contributions from joint venture partners |
24
|
3,331
|
December 31, 2000 |
913
|
100,962
|
Rental property, real estate tax and depreciation and amortization expenses increased for the year ended December 31, 2000, compared to the same period in 1999, due to the increase in the number of in-service properties during the respective periods.
The $47.2 million increase in interest expense is primarily attributable to higher outstanding debt balances associated with the financing of the Company's investment activities. The increased balances include $450 million of unsecured debt issued in 1999, the assumption of $185 million of secured debt and $287 million of unsecured debt in the merger with Weeks Corporation in July 1999, and increased borrowings on the Company's lines of credit. These higher borrowing costs were partially offset by the capitalization of interest on increased property development activities.
As a result of the above-mentioned items, earnings from Rental Operations increased $31.5 million from $197.5 million for the year ended December 31, 1999, to $229.0 million for the year ended December 31, 2000.
Service Operations
Service Operations revenues increased by $28.8 million from $54.0 million for the year ended December 31, 1999, to $82.8 million for the year ended December 31, 2000, primarily as a result of increases in construction and development income from increased third-party construction and revenues from the development and sale profits of build-to-suit properties.
Service Operations operating expenses increased from $36.2 million in 1999 to $50.0 million for the year ended December 31, 2000, due to the overall growth of the Company and the increased portfolio of buildings associated with this growth, and the significant increase in construction and development activity in 2000.
As a result, earnings from Service Operations increased from $17.9 million for the year ended December 31, 1999, to $32.8 million for the year ended December 31, 2000.
General and Administrative Expense
General and Administrative Expense increased from $16.6 million in 1999 to $21.1 million for the year ended December 31, 2000, due to an increase in corporate expenses associated with overall growth of the Company and effects of a full year's operations resulting from the merger with Weeks Corporation in July 1999.
Other Income and Expenses
Interest income increased from $2.7 million for the year ended December 31, 1999, to $6.9 million for the same period in 2000 primarily through earnings on funds deposited in tax deferred exchange escrows of $3.6 million.
The Company has a disposition strategy to pursue favorable opportunities to dispose of real estate assets that no longer meet long-term investment objectives of the Company, which resulted in net sales proceeds of $413.8 million and a net gain of $58.1 million for the year ended December 31, 2000.
In conjunction with this disposition strategy, included in net real estate investments are 28 buildings with a net book value of $112.0 million which were classified as held for sale by the Company at December 31, 2000. The Company expects to complete these and other dispositions and use the proceeds to fund future investments in real estate assets.
Net Income Available for Common Shareholders
Net income available for common shareholders for the year ended December 31, 2000 was $213.0 million compared to $139.6 million for the year ended December 31, 1999. This increase results primarily from the operating result fluctuations in rental and service operations and earnings from sales of real estate assets explained above.
Comparison of Year Ended December 31, 1999 to Year Ended December 31, 1998
Rental Operations
The Company increased its in-service portfolio of rental properties from 453 properties comprising 52.0 million square feet at December 31, 1998 to 865 properties comprising 92.5 million square feet at December 31, 1999 through the acquisition of 365 properties totaling 31.4 million square feet and the placement in service of 68 properties and four building expansions totaling 10.9 million square feet. Of these additional acquisition properties, 335 properties totaling 28.6 million square feet relate to the Weeks Merger.
The Company also disposed of 21 properties totaling 1.9 million square feet. These 412 net additional rental properties primarily account for the $186.9 million increase in revenues from Rental Operations from 1998 to 1999. The increase from 1998 to 1999 in rental expenses, real estate taxes and depreciation and amortization expense is also a result of the additional 412 in-service rental properties.
The $26.5 million increase in interest expense is primarily attributed to higher outstanding debt balances associated with the financing of the Companys investment activities. The increased balances include $450 million of unsecured debt issued in 1999, the assumption of $185 million of secured debt and $287 million of unsecured debt in the Weeks Merger, and increased borrowings on the Companys unsecured lines of credit. These higher borrowing costs were partially offset by the capitalization of interest on increased property development activities which increased in 1999 compared to 1998.
As a result of the above-mentioned items, earnings from Rental Operations increased $71.5 million from $126.0 million for 1998 to $197.5 million for 1999.
Service Operations
Service Operations revenues increased from $24.7 million to $54.0 million for the year ended 1999 as compared to 1998 primarily as a result of increases in construction management fee revenue because of an increase in third-party construction volume. Service Operations expenses increased from $17.5 million to $36.1 million for the year ended 1999, as compared to 1998, as a result of (i) payroll increasing from $12.5 million in 1998 to $17.2 million in 1999 due to the Weeks Merger and additional personnel added to existing regional offices due to the overall growth of the Company; (ii) income tax expenses increasing by $5.2 million as a result of increased activity in properties constructed for sale; and (iii) maintenance expenses increasing from $2.5 million in 1998 to $9.7 million in 1999 through the addition of substantial landscape operations in the Weeks Merger and the growth of the Company in Midwest markets.
As a result of the above-mentioned items, earnings from Service Operations increased $10.7 million from $7.2 million in 1998 to $17.9 million for the year ended 1999.
General and Administrative Expense
General and administrative expense increased from $11.6 million for the year ended 1998 to $16.6 million for 1999 primarily due to an overall increase in corporate expenses associated with the Weeks Merger and the overall growth of the Company.
Other Income and Expenses
During 1999, the Company developed a disposition strategy to pursue favorable opportunities to dispose of real estate assets that no longer meet long-term investment objectives of the Company, which resulted in net sales proceeds of $76.4 million and a net gain of $10.0 million in 1999.
Net Income Available for Common Shareholders
Net income available for common shareholders for the year ended December 31, 1999, was $139.6 million compared to $90.9 million for 1998. This increase results primarily from the increases in the operating results of rental and service operations explained above.
Liquidity and Capital Resources
Financial Flexibility
During 1999 and continuing into 2000, the real estate industry experienced a reduced supply of favorably priced equity and debt capital, which generally decreased the level of new investment activity by real estate companies. While the Company has been subject to the same capital market conditions as other real estate companies, management believes the Companys financial and liquidity position are relatively strong. Over the years, the Company has carefully managed its balance sheet in an effort to avoid liquidity issues in any given quarter or year. In managements view, this should provide a competitive advantage in the current capital constrained market over many of its competitors. Following are three key indicators that demonstrate the overall strength of the Companys financial position. First, the Company believes that its strong balance sheet and expected real estate asset disposition proceeds will provide the Company with sufficient capital to fund its investment activities. Second, the Company has maintained a conservative balance sheet with a debt-to-market capitalization of 31.4% at December 31, 2000. Third, as of December 31, 2000, the Company has a total of $627.3 million of undrawn capacity on its existing lines of credit to meet its short-term obligations.
Management believes that these key factors will provide the Company with substantial financial flexibility to capitalize on investment opportunities which may not be available to other real estate companies with more limited financial resources.
Operating Activities
Net cash flow provided by operating activities increased by $133.5 million in 2000 as compared to 1999 and by $94.4 million in 1999 as compared to 1998. These increases are due primarily to the Weeks Merger in July 1999, the development and acquisition of additional rental properties, and cash flow from existing real estate assets.
Investing and Financing Activities
During 2000, 1999 and 1998, the Company invested net cash of $97.8 million, $740.3 million, and $703.8 million, respectively, into real estate investing activities. In 2000, the Company used the proceeds received from the disposal of real estate assets identified as result of its capital disposition strategy to fund its future development. During 2000, the Company received approximately $413.8 million of proceeds from land and depreciated property sales and a $158.4 million capital distribution from an unconsolidated company which were used to fund development activities and reduce amounts outstanding on the Company's line of credit.
The $740.3 million invested in real estate in 1999 was financed primarily from the borrowings under the Companys unsecured lines of credit. These unsecured lines of credit were partially repaid with proceeds from the issuance of $450.0 million of long-term unsecured debt, $214.8 million in net proceeds from the sale of common shares, and $96.5 million of net proceeds from the sale of preferred shares. The $703.8 million invested in real estate during 1998 was financed primarily from borrowings under the Companys line of credit. These borrowings were partially repaid with proceeds from the issuance of $250.0 million of long-term unsecured debt, $211.5 million in net proceeds from the sale of common shares, and $129.5 million of net proceeds from the sale of preferred shares.
Other significant financing activity included the payment of $256.9 million, $196.7 million, and $123.1 million in common and preferred share distributions in 2000, 1999 and 1998, respectively. The increases are primarily attributable to (i) an increase in the overall number of common shares and Series F Preferred Shares outstanding resulting from the Weeks Merger in 1999; and (ii) annual increases in the cash distributions paid per common share.
The Company currently has on file a Form S-3 Registration Statement (the Shelf Registration) with the Securities and Exchange Commission which has remaining availability as of December 31, 2000, of $792.9 million to issue additional common stock, preferred stock and unsecured debt securities. The Company intends to issue additional securities under this Shelf Registration to fund the development and acquisition of additional rental properties. The Company also has a Shelf Registration on file for at-the-market offerings of 1.5 million shares of common stock. The Company completed a $75.0 million preferred stock offering in February 2001.
The recurring capital needs of the Company are funded primarily through the undistributed net cash provided by operating activities. A summary of the Companys recurring capital expenditures is as follows (in thousands):
2000
|
1999
|
1998
|
|
Tenant improvements | $31,955 | $21,144 | $10,785 |
Leasing costs | 17,530 | 12,326 | 6,655 |
Building
improvements |
6,804
|
3,751
|
2,206
|
Total |
$56,289
|
$37,221
|
$19,646
|
The Company has the following lines of credit available (in thousands):
Description
|
Borrowing Capacity |
Maturity Date |
Interest Rate |
Outstanding at December 31, 2000 |
Unsecured Line of Credit | $450,000 | April 2001 | LIBOR + .70% | $220,000 |
Unsecured Line of Credit | $300,000 | June 2001 | LIBOR + .775% | $- |
Secured Line of Credit | $150,000 | January 2003 | LIBOR + 1.05% | $52,657 |
The lines of credit are used to fund development and acquisition of additional rental properties and to provide working capital.
The $450 million line of credit allows the Company an option to obtain borrowings from the financial institutions that participate in the line of credit at rates lower than the stated interest rate, subject to certain restrictions. Amounts outstanding on the line of credit at December 31, 2000 are at LIBOR + .55% to .70%. In February 2001, the Company renewed the $450 million line of credit. The borrowing capacity was increased to $500 million, the interest rate was lowered to LIBOR + .65% and the maturity date was extended to March 1, 2004.
The debt outstanding at December 31, 2000 totals $2.0 billion with a weighted average interest rate of 7.32% maturing at various dates through 2028. The Company has $1.5 billion of unsecured debt and $466.6 million of secured debt outstanding at December 31, 2000. Scheduled principal amortization of such debt totaled $10.7 million for the year ended December 31, 2000.
Following is a summary of the scheduled future amortization and maturities of the Companys indebtedness at December 31, 2000 (in thousands):
Repayments
|
||||
Year
|
Scheduled Amortization |
Maturities
|
Total
|
Weighted
Average Interest Rate of Future Repayments |
2001 | $11,584 | $399,431 | $411,015 | 7.33% |
2002 | 11,810 | 55,037 | 66,847 | 7.36% |
2003 | 11,612 | 333,869 | 345,481 | 7.72% |
2004 | 9,947 | 176,186 | 186,133 | 7.41% |
2005 | 8,636 | 213,662 | 222,298 | 7.25% |
2006 | 7,705 | 146,178 | 153,883 | 7.12% |
2007 | 5,967 | 116,555 | 122,522 | 7.13% |
2008 | 4,749 | 100,000 | 104,749 | 6.77% |
2009 | 5,093 | 150,000 | 155,093 | 7.73% |
Thereafter |
30,194
|
175,000
|
205,194
|
6.88% |
Total |
$107,297
|
$1,865,918
|
$1,973,215
|
7.32% |
Shareholder Dividend/Distribution Requirements
The Company intends to pay regular quarterly dividends from net cash provided by operating activities. A quarterly dividend of $.43 per common share was declared on January 31, 2001, which represents an annualized dividend of $1.72 per share.
Funds From Operations
Management believes that Funds From Operations (FFO), which is defined by the National Association of Real Estate Investment Trusts as net income or loss, excluding gains or losses from debt restructuring and sales of depreciated property, plus operating property depreciation and amortization and adjustments for minority interest and unconsolidated companies on the same basis, is the industry standard for reporting the operations of real estate investment trusts.
The following reflects the calculation of the Companys FFO for the years ended December 31 (in thousands):
2000
|
1999
|
1998
|
|
Net income available for common shares | $212,958 | $139,636 | $90,871 |
Add back (deduct): | |||
Depreciation and amortization | 159,888 | 108,683 | 68,766 |
Share of adjustments for unconsolidated companies | 9,104 | 5,268 | 4,302 |
Earnings from depreciated property sales | (48,892) | (6,155) | (1,351) |
Minority interest share of add-backs |
(15,698)
|
(13,159)
|
(8,514)
|
Funds From Operations |
$317,360
|
$234,273
|
$154,074
|
Cash flow provided by (used by): | |||
Operating activities | $449,130 | $315,635 | $221,188 |
Investing activities | (97,752) | (740,269) | (703,814) |
Financing activities | (330,952) | 436,449 | 479,223 |
The increase in FFO during the three-year period results primarily from the increased in-service rental property portfolio as discussed above under Results of Operations.
While management believes that FFO is the most relevant and widely used measure of the Companys operating performance, such amount does not represent cash flow from operations as defined by generally accepted accounting principles, should not be considered as an alternative to net income as an indicator of the Companys operating performance, and is not indicative of cash available to fund all cash flow needs.
Accounting Changes
In June 1998, the Financial Accounting Standards Board issued Statement No. 133, "Accounting for Derivative Instruments and for Hedging Activities," as amended by Statement No. 138, effective for fiscal years beginning after June 15, 2000. These statements will require the Company to recognize all derivatives on the balance sheet at fair value. Derivatives that are not hedges must be adjusted to fair value through income. If the derivative is a hedge, then depending on the nature of the hedge, changes in the fair value will either be offset through earnings, against the change in fair value of hedged assets, liabilities or firm commitments or recognized in other comprehensive income until the hedged item is recognized in income. The ineffective portion of a hedge's change in fair value will be immediately recognized in income. The adoption of these statements will not have a material impact on the Company's financial statements.
Item 7a. Quantitative and Qualitative Disclosure About Market Risks
The Company is exposed to interest rate changes primarily as a result of its line of credit and long-term debt used to maintain liquidity and fund capital expenditures and expansion of the Companys real estate investment portfolio and operations. The Companys interest rate risk management objective is to limit the impact of interest rate changes on earnings and cash flows and to lower its overall borrowing costs. To achieve its objectives the Company borrows primarily at fixed rates and may enter into derivative financial instruments such as interest rate swaps, caps and treasury locks in order to mitigate its interest rate risk on a related financial instrument. The Company does not enter into derivative or interest rate transactions for speculative purposes.
The Companys interest rate risk is monitored using a variety of techniques. The table below presents the principal amounts (in thousands) of the expected annual maturities, weighted average interest rates for the average debt outstanding in the specified period, fair values and other terms required to evaluate the expected cash flows and sensitivity to interest rate changes. The fair values of the Companys debt instruments are calculated as the present value of estimated future cash flows using a discount rate commensurate with the risks involved.
2001 |
2002 |
2003 |
2004 |
2005 |
Thereafter |
Total |
Fair Value |
|
Fixed rate secured debt | $104,953 | $15,626 | $77,838 | $35,158 | $21,326 | $102,298 | $357,199 | $363,355 |
Weighted average interest rate | 8.34% | 7.64% | 8.38% | 8.03% | 7.42% | 7.79% | ||
Variable rate LIBOR based secured debt | $325 | $325 | $91,706 | $- | $- | $- | $92,356 | $93,075 |
Weighted average interest rate | 8.41% | 8.41% | 7.99% | N/A | N/A | N/A | ||
Variable rate Treasury based secured debt | $536 | $661 | $686 | $711 | $741 | $13,734 | $17,069 | $12,678 |
Weighted average interest rate | 4.24% | 4.09% | 4.11% | 4.12% | 4.13% | 3.95% | ||
Unsecured notes | $85,201 | $50,235 | $175,251 | $150,264 | $200,231 | $625,409 | $1,286,591 | $1,297,573 |
Weighted average interest rate | 6.14% | 7.31% | 7.30% | 7.28% | 7.24% | 7.10% | ||
Unsecured lines of credit | $220,000 | $- | $- | $- | $- | $- | $220,000 | $220,000 |
Weighted average interest rate | 7.35% | N/A | N/A | N/A | N/A | N/A |
The Company has four interest rate swap agreements outstanding which have an aggregate fair market value of $397,761 at December 31, 2000. Three of the swap agreements mature on December 31, 2001, in conjunction with the maturity of an $85 million unsecured syndicated bank term loan. The fourth swap agreement is in conjunction with a $40 million mortgage loan which matures January 2003, along with the swap agreement.
As the table incorporates only those exposures that exist as of December 31, 2000, it does not consider those exposures or positions which could arise after that date. As a result, the Companys ultimate realized gain or loss with respect to interest rate fluctuations will depend on the exposures that arise during the period, the Companys hedging strategies at that time, and interest rates.
Item 8. Financial Statements and Supplementary Data
The financial statements and supplementary data are included under Item 14 of this Report.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Part III
Item 10. Trustees and Executive Officers of the Registrant
Information regarding the Companys executive officers and other information required by this Item 10 is incorporated herein by reference to the Companys 2000 Proxy Statement.
Item 11. Executive Compensation
Incorporated herein by reference to the Companys 2000 Proxy Statement.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Incorporated by reference to the Companys 2000 Proxy Statement.
Item 13. Certain Relationships and Related Transactions
Incorporated by reference to the Companys 2000 Proxy Statement.
Part IV
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
(A) Documents Filed as Part of This Report
1. Consolidated Financial Statements
The following Consolidated Financial Statements of the Company, together with the Independent Auditors Report, are listed below:
Independent
Auditors Report
Consolidated Balance Sheets, December 31, 2000 and 1999
Consolidated Statements of Operations, Years Ended December 31, 2000, 1999 and
1998
Consolidated Statements of Cash Flows, Years Ended December 31, 2000, 1999 and
1998
Consolidated Statements of Shareholders Equity, Years Ended December 31, 2000,
1999
and 1998
Notes to Consolidated Financial Statements
2. Consolidated Financial Statement Schedules
Schedule III Real Estate and Accumulated Depreciation
3. Exhibits
See Index to Exhibits on page 71 of this report.
Independent Auditors Report
The
Shareholders and Directors of
Duke-Weeks Realty Corporation:
We have audited the consolidated financial statements of Duke-Weeks Realty Corporation and Subsidiaries as listed in the accompanying index. In connection with our audits of the consolidated financial statements, we also have audited the financial statement schedule as listed in the accompanying index. These consolidated financial statements and the financial statement schedule are the responsibility of the Companys management. Our responsibility is to express an opinion on the consolidated financial statements and the financial statement schedule based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Duke-Weeks Realty Corporation and Subsidiaries as of December 31, 2000 and 1999, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2000, in conformity with accounting principles generally accepted in the United States of America. Also, in our opinion, the related financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.
KPMG
LLP
Indianapolis, Indiana
January 31, 2001
DUKE-WEEKS REALTY CORPORATION AND
SUBSIDIARIES
Consolidated Balance Sheets
As of December 31
(in thousands, except per share amounts)
ASSETS |
2000
|
1999
|
Real estate investments: | ||
Land and improvements | $581,530 | $602,789 |
Buildings and tenant improvements | 3,989,033 | 4,124,117 |
Construction in progress | 216,938 | 327,944 |
Investments in unconsolidated companies | 367,581 | 145,587 |
Land held for development |
257,779
|
246,533
|
5,412,861 | 5,446,970 | |
Accumulated depreciation |
(338,426)
|
(254,574)
|
Net real estate investments | 5,074,435 | 5,192,396 |
Cash and cash equivalents | 39,191 | 18,765 |
Accounts receivable, net of allowance of $1,540 and $1,775 | 19,454 | 26,844 |
Straight-line rent receivable, net of allowance of $1,460 and $841 | 34,512 | 29,770 |
Receivables on construction contracts | 45,394 | 29,537 |
Deferred financing costs, net of accumulated amortization of $13,288 and $9,082 | 12,540 | 16,651 |
Deferred leasing and other costs, net of accumulated amortization of $31,522 and $21,287 | 102,413 | 83,153 |
Escrow deposits and other assets |
132,097
|
89,122
|
$5,460,036 |
$5,486,238
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Indebtedness: | ||
Secured debt | $466,624 | $528,665 |
Unsecured notes | 1,286,591 | 1,326,811 |
Unsecured lines of credit |
220,000
|
258,000
|
1,973,215 | 2,113,476 | |
Construction payables and amounts due subcontractors | 70,105 | 89,985 |
Accounts payable | 4,312 | 3,179 |
Accrued expenses: | ||
Real estate taxes | 51,328 | 47,604 |
Interest | 28,780 | 20,658 |
Other | 61,341 | 42,295 |
Other liabilities | 88,540 | 30,544 |
Tenant security deposits and prepaid rents |
34,208 |
36,156
|
Total liabilities |
2,311,829 |
2,383,897
|
Minority interest |
435,317 |
433,745
|
Shareholders equity: | ||
Preferred shares ($.01 par value); 5,000 shares authorized | 608,874 | 609,998 |
Common shares ($.01 par value); 250,000 shares authorized; 127,932 and 125,823 shares issued and outstanding | 1,279 | 1,258 |
Additional paid-in capital | 2,180,120 | 2,139,772 |
Distributions in excess of net income |
(77,383) |
(82,432)
|
Total shareholders' equity |
2,712,890 |
2,668,596
|
$5,460,036 |
$5,486,238
|
See accompanying Notes to Consolidated Financial Statements.
DUKE-WEEKS REALTY CORPORATION AND
SUBSIDIARIES
Consolidated Statements of Operations
For the Years Ended December 31
(in thousands, except per share amounts)
2000
|
1999
|
1998
|
|
RENTAL OPERATIONS: | |||
Revenues: | |||
Rental income | $697,270 | $523,950 | $337,768 |
Equity in earnings of unconsolidated companies |
14,556
|
11,613
|
10,857
|
711,826
|
535,563
|
348,625
|
|
Operating expenses: | |||
Rental expenses | 118,040 | 88,403 | 59,769 |
Real estate taxes | 70,963 | 54,246 | 33,906 |
Interest expense | 133,948 | 86,757 | 60,217 |
Depreciation and amortization |
159,888
|
108,683
|
68,766
|
482,839
|
338,089
|
222,658
|
|
Earnings from rental operations |
228,987
|
197,474
|
125,967
|
SERVICE OPERATIONS: | |||
Revenues: | |||
Property management, maintenance and leasing fees | 25,477 | 21,941 | 13,189 |
Construction and development activity income | 55,863 | 30,928 | 10,417 |
Other income |
1,459
|
1,162
|
1,110
|
82,799 | 54,031 | 24,716 | |
Operating expenses |
50,039
|
36,159
|
17,521
|
Earnings from service operations |
32,760
|
17,872
|
7,195
|
General and administrative expense |
(21,144)
|
(16,556)
|
(11,573)
|
Operating income | 240,603 | 198,790 | 121,589 |
OTHER INCOME (EXPENSE): | |||
Interest income | 6,866 | 2,674 | 1,562 |
Earnings from sales of land and depreciable property dispositions | 58,057 | 7,932 | 1,351 |
Other expense | (963) | (1,091) | (305) |
Other minority interest in earnings of subsidiaries | (2,145) | (2,050) | (1,252) |
Minority interest in earnings of common unitholders | (32,071) | (19,811) | (12,241) |
Minority interest in earnings of preferred unitholders |
(8,408)
|
(4,204)
|
-
|
Net income | 261,939 | 182,240 | 110,704 |
Dividends on preferred shares |
(48,981)
|
(42,604)
|
(19,833)
|
Net income available for common shares |
$212,958
|
$139,636
|
$90,871
|
Net income per common share: | |||
Basic |
$1.68
|
$1.33
|
$1.13
|
Diluted |
$1.66
|
$1.32
|
$1.12
|
Weighted average number of common shares outstanding |
126,836
|
104,884
|
80,704
|
Weighted average number of common and dilutive potential common shares |
147,441
|
120,511
|
92,468
|
See accompanying Notes to Consolidated Financial Statements.
DUKE-WEEKS REALTY CORPORATION AND
SUBSIDIARIES
Consolidated Statements of Cash Flows
For the Years Ended December 31
(in thousands)
2000
|
1999
|
1998
|
|
Cash flows from operating activities: | |||
Net income | $261,939 | $182,240 | $110,704 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation of buildings and tenant improvements | 141,989 | 97,982 | 61,414 |
Amortization of deferred leasing and other costs | 17,899 | 10,701 | 7,352 |
Amortization of deferred financing costs | 3,527 | 1,879 | 1,362 |
Minority interest in earnings | 42,624 | 26,065 | 13,493 |
Straight-line rent adjustment | (14,519) | (10,676) | (5,794) |
Earnings from land and depreciated property sales | (58,057) | (7,932) | (1,351) |
Construction contracts, net | 3,252 | 2,252 | 7,764 |
Other accrued revenues and expenses, net | 52,987 | 13,312 | 31,765 |
Equity in earnings in excess of operating distributions received from unconsolidated companies |
(2,511)
|
(188)
|
(5,521)
|
Net cash provided by operating activities |
449,130
|
315,635
|
221,188
|
Cash flows from investing activities: | |||
Development of real estate investments | (392,127) | (479,642) | (279,391) |
Acquisition of real estate investments | (5,932) | (159,917) | (301,151) |
Acquisition of land held for development and infrastructure costs | (99,470) | (72,877) | (53,736) |
Recurring tenant improvements | (31,955) | (21,144) | (10,785) |
Recurring leasing costs | (17,530) | (12,326) | (6,655) |
Recurring building improvements | (6,804) | (3,751) | (2,206) |
Other deferred leasing costs | (39,018) | (31,360) | (19,180) |
Other deferred costs and other assets | (12,042) | (19,412) | (11,047) |
Tax deferred exchange escrow, net | (16,207) | - | - |
Proceeds from land and depreciated property sales, net | 413,752 | 76,401 | 9,071 |
Capital distributions from unconsolidated companies | 158,351 | 16,802 | - |
Net investment in and advances to unconsolidated companies |
(48,770)
|
(33,043)
|
(28,734)
|
Net cash used by investing activities |
(97,752)
|
(740,269)
|
(703,814)
|
Cash flows from financing activities: | |||
Proceeds from issuance of common shares, net | 31,090 | 214,778 | 211,478 |
Proceeds (payments) from issuance (repurchase) of preferred shares, net | (1,124) | 96,519 | 129,460 |
Proceeds from indebtedness | - | 450,000 | 250,000 |
Payments on indebtedness including principal amortization | (75,689) | (259,891) | (49,997) |
Borrowings on lines of credit, net | 14,658 | 167,000 | 78,000 |
Distributions to common shareholders | (207,909) | (154,069) | (103,223) |
Distributions to preferred shareholders | (48,981) | (42,604) | (19,833) |
Distributions to preferred unitholders | (8,408) | (4,204) | - |
Distributions to minority interest | (33,229) | (23,457) | (15,018) |
Deferred financing costs |
(1,360)
|
(7,623)
|
(1,644)
|
Net cash provided by (used for) financing activities |
(330,952)
|
436,449
|
479,223
|
Net increase (decrease) in cash and cash equivalents | 20,426 | 11,815 | (3,403) |
Cash and cash equivalents at beginning of year |
18,765
|
6,950
|
10,353
|
Cash and cash equivalents at end of year |
$39,191
|
$18,765
|
$6,950
|
Other non-cash items: | |||
Assumption of debt for real estate acquisitions |
$-
|
$26,186
|
$9,195
|
Contributions of property to unconsolidated companies |
$245,502
|
$-
|
$1,040
|
Conversion of Limited Partner Units to shares |
$8,347
|
$49,472
|
$6,598
|
Issuance of Limited Partner Units for real estate acquisitions |
$7,615
|
$3,146
|
$2,038
|
Transfer of mortgage debt in sale of depreciated property |
$72,650
|
$-
|
$-
|
See accompanying Notes to Consolidated Financial Statements.
-
DUKE-WEEKS
REALTY CORPORATION AND SUBSIDIARIES
Consolidated Statements of Shareholders' Equity
(in thousands, except per share data)
Preferred Stock |
Common Stock |
Additional Paid-in Capital |
Distributions in Excess of Net Income |
Total
|
|
Balance at December 31, 1997 | $225,000 | $761 | $1,064,567 | $(55,647) | $1,234,681 |
Issuance of common shares, net of underwriting discounts and related costs of $8,325 | - | 97 | 211,628 | - | 211,725 |
Issuance of preferred shares, underwriting discounts and related costs | 135,000 | - | (5,540) | - | 129,460 |
Acquisition of minority interest | - | 3 | 6,595 | - | 6,598 |
Net income | - | - | - | 110,704 | 110,704 |
Distributions to preferred shareholders | - | - | - | (19,833) | (19,833) |
Distributions to common shareholders ($1.28 per share) |
-
|
-
|
-
|
(103,223)
|
(103,223)
|
Balance at December 31, 1998 | 360,000 | 861 | 1,277,250 | (67,999) | 1,570,112 |
Issuance of common shares, net of underwriting discounts and related costs of $100 | - | 102 | 215,573 | - | 215,675 |
Issuance of preferred shares, underwriting discounts and related costs | 100,000 | - | (3,481) | - | 96,519 |
Acquisition of minority interest | - | 21 | 49,451 | - | 49,472 |
Merger with Weeks Corporation | 150,000 | 274 | 600,979 | - | 751,253 |
Repurchase of Preferred D Series shares | (2) | - | - | - | (2) |
Net income | - | - | - | 182,240 | 182,240 |
Distributions to preferred shareholders | - | - | - | (42,604) | (42,604) |
Distributions to common shareholders ($1.46 per share) |
-
|
-
|
-
|
(154,069)
|
(154,069)
|
Balance at December 31, 1999 | 609,998 | 1,258 | 2,139,772 | (82,432) | 2,668,596 |
Issuance of common shares | - | 17 | 32,005 | - | 32,022 |
Acquisition of minority interest | - | 4 | 8,343 | - | 8,347 |
Repurchase of Preferred D Series shares | (1,124) | - | - | - | (1,124) |
Net income | - | - | - | 261,939 | 261,939 |
Distributions to preferred shareholders | - | - | - | (48,981) | (48,981) |
Distributions to common shareholders ($1.64 per share) |
-
|
-
|
-
|
(207,909)
|
(207,909)
|
Balance at December 31, 2000 |
$608,874
|
$1,279
|
$2,180,120
|
$(77,383)
|
$2,712,890
|
See accompanying Notes to Consolidated Financial Statements.
DUKE-WEEKS REALTY CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements
(1) The Company
The Companys rental operations are conducted through Duke-Weeks Realty Limited Partnership (DWRLP), of which the Company owns 86.9% at December 31, 2000. The remaining interests in DWRLP are exchangeable for shares of the Company's common stock on a one-for-one basis. The Company conducts service operations through Duke Realty Services Limited Partnership and Duke Construction Limited Partnership, in which the Companys wholly-owned subsidiary, Duke Services, Inc., is the sole general partner. The consolidated financial statements include the accounts of the Company and its majority-owned or controlled subsidiaries. The equity interests in these majority-owned or controlled subsidiaries not owned by the Company are reflected as minority interests in the consolidated financial statements.
(2) Summary of Significant Accounting Policies
Principles of Consolidation
The consolidated financial statements include the accounts of the Company and its majority-owned or controlled subsidiaries. The equity interests in these majority-owned or controlled subsidiaries not owned by the Company are reflected as minority interests in the consolidated financial statements. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements.
Reclassifications
Certain 1998 and 1999 balances have been reclassified to conform to 2000 presentation.
Real Estate Investments
Real estate investments to be held and used are stated at the lower of cost less accumulated depreciation or fair value if impairment is identified. Real estate investments to be disposed of are reported at the lower of their carrying amount or fair value less cost to sell. Buildings and land improvements are depreciated on the straight-line method over their estimated life not to exceed 40 and 15 years, respectively, and tenant improvement costs are depreciated on the straight-line method over the term of the related lease.
All direct and indirect costs, including interest and real estate taxes clearly associated with the development, construction or expansion of real estate investments are capitalized as a cost of the property. All external costs associated with the acquisition of real estate investments are capitalized as a cost of the property.
The Company evaluates its real estate investments to be held and used upon occurrence of significant changes in the operations, but not less than annually, to assess whether any impairment indications are present, including recurring operating losses and significant adverse changes in legal factors or business climate that affect the recovery of the recorded value. If any real estate investment is considered impaired, a loss is provided to reduce the carrying value of the property to its estimated fair value.
The acquisitions of minority interests for the Companys common shares are recorded under the purchase method with assets acquired reflected at the fair market value of the Companys common stock on the date of acquisition, net of the retirement of any minority interest liabilities. The acquisition amounts are allocated to rental property based on their estimated fair values.
The Company has equity interests in unconsolidated partnerships and joint ventures which own and operate rental properties and hold land for development. The equity method of accounting is used for these investments in which the Company has the ability to exercise significant influence over operating and financial policies. Any difference between the carrying amount of these investments and the underlying equity in net assets is amortized to equity in earnings of unconsolidated companies over the depreciable life of the property, generally 40 years.
Cash Equivalents
Highly liquid investments with a maturity of three months or less when purchased are classified as cash equivalents.
Deferred Costs
Costs incurred in connection with obtaining financing are amortized to interest expense on the straight-line method over the term of the related loan. All direct and indirect costs associated with the rental of real estate investments owned by the Company are amortized over the term of the related lease. Unamortized costs are charged to expense upon the early termination of the lease or upon early payment of the financing.
Revenues
Rental Operations
Rental income from leases with scheduled rental increases during their terms is recognized on a straightline basis.
Service Operations
Management fees are based on a percentage of rental receipts of properties managed and are recognized as the rental receipts are collected. Maintenance fees are based upon established hourly rates and are recognized as the services are performed. Construction management and development fees for third party contracts are generally based on a percentage of costs and are recognized based upon percentage of completion.
Duke Construction Limited Partnership (DCLP) provides traditional construction services to third parties and develops and constructs properties intended for resale with profits recognized as additional service operation income at time of sale. Duke Realty Services Limited Partnership (DRSLP) is the sole general partner of DCLP and the operations of DCLP are included in the consolidated financial statements of the Company. The sole limited partner of DCLP is Duke Realty Construction, Inc. (DRCI), of which DWRLP owns 100% of the preferred stock and realizes substantially all economic benefits of its activities.
DRCI is not a qualified Real Estate Investment Trust ("REIT") subsidiary of the Company. Accordingly, provisions for federal income taxes are recognized as appropriate.
Net Income Per Common Share
Basic net income per common share is computed by dividing net income available for common shares by the weighted average number of common shares outstanding for the period. Diluted net income per share is computed by dividing the sum of net income available for common shares and minority interest in earnings of unitholders, by the sum of the weighted average number of common shares and units outstanding and dilutive potential common shares for the period.
The following table reconciles the components of basic and diluted net income per share:
2000
|
1999
|
1998
|
|
Basic net income available for common shares | $212,958 | $139,636 | $90,871 |
Minority interest in earnings of common unitholders |
32,071
|
19,811
|
12,241
|
Diluted net income available for common shares and dilutive potential common shares |
$245,029
|
$159,447
|
$103,112
|
Weighted average number of common shares outstanding | 126,836 | 104,884 | 80,704 |
Weighted average partnership common units outstanding | 19,070 | 14,583 | 10,872 |
Dilutive shares for long-term compensation plans |
1,535
|
1,044
|
892
|
Weighted average number of common shares and dilutive potential common shares |
147,441
|
120,511
|
92,468
|
All convertible preferred stock, convertible preferred limited partner units and put options (see Footnote 5) were anti-dilutive in 2000 and 1999; therefore, no conversion to common shares is assumed in weighted dilutive potential common shares at December 31, 2000 and 1999, respectively.
Federal Income Taxes
As a REIT, the Company is allowed to reduce taxable income by all or a portion of its distributions to shareholders. As deductible distributions have exceeded taxable income, no provision for federal income taxes has been made in the accompanying consolidated financial statements.
Earnings and profits, which determine the taxability of dividends to shareholders, differ from reported net income primarily because of different depreciable lives and bases of rental properties and differences in the timing of recognition of earnings upon disposition of properties.
A summary of the taxable nature of the Companys dividends for the three years ended December 31 is as follows:
2000
|
1999
|
1998
|
||
Total dividends paid per share |
$1.64
|
$1.46
|
$1.28
|
|
Percent taxable as ordinary income | 85.59% | 94.88% | 96.33% | |
Percent taxable as long-term capital gains | 3.52% | 1.30% | - | |
Percent non-taxable as return of capital |
10.89%
|
3.82%
|
3.67%
|
|
100.00%
|
100.00%
|
100.00%
|
||
Dividends per share of $1.26, $1.23 and $1.09 were required for the Company to
maintain its REIT status in 2000, 1999 and 1998, respectively.
Federal income tax expense of $8.0 million, $5.4 million and $170,000 was recorded in 2000, 1999 and 1998, respectively, related to DRCI. There were no significant deferred income tax items.
Fair Value Of Financial Instruments
The fair values of the Companys financial instruments are generally calculated as the present value of estimated future cash flows using a discount rate commensurate with the risks involved and approximate their carrying or contract values.
Derivative Financial Instruments
The Company may enter into derivative financial instruments such as interest rate swaps and treasury locks in order to mitigate its interest rate risk on a related financial instrument. These derivative financial instruments are designated as hedges and deferral accounting is applied as the derivative financial instrument reduces exposure to interest rate risk. Gains and losses on derivative financial instruments are amortized to interest expense over the term of the hedged instrument. Amounts paid or received on interest rate swaps are included in interest expense.
Use Of Estimates
The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
(3) Merger With Weeks Corporation
In July 1999, Weeks Corporation (Weeks), a self-administered, self-managed geographically focused Real Estate Investment Trust (REIT) which operated primarily in the southeastern United States, was merged with and into Duke Realty Investments, Inc. (Duke). The combined company has continued under the name Duke-Weeks Realty Corporation (the Company). The total purchase price of Weeks aggregated approximately $1.9 billion, which included the assumption of the outstanding debt and liabilities of Weeks of approximately $775 million. The transaction was structured as a tax-free merger and was accounted for under the purchase method.
The following summarized pro forma unaudited information represents the combined historical operating results of Weeks and Duke with the appropriate purchase accounting adjustments, assuming the merger had occurred on January 1, 1998. The pro forma financial information presented is not necessarily indicative of what the Companys actual operating results would have been had Weeks and Duke constituted a single entity during such periods (in thousands, except per share amounts):
|
Years Ended December 31, |
||
2000
(Actual) |
1999
(Pro Forma) |
1998
(Pro Forma) |
|
Rental income |
$711,826
|
$626,803
|
$502,030
|
Net income available for common shareholders |
$212,958
|
$158,156
|
$116,675
|
Weighted average common shares outstanding: | |||
Basic |
126,836
|
118,565
|
107,277
|
Diluted |
147,441
|
139,373
|
128,761
|
Net income per common share: | |||
Basic |
$1.68
|
$1.33
|
$1.09
|
Diluted |
$1.66
|
$1.32
|
$1.07
|
(4) Related Party Transactions
The Company provides management, leasing, construction and other tenant related services to partnerships in which certain executive officers have continuing ownership interests. The Company was paid fees totaling $1.9 million, $2.4 million and $2.3 million for such services in 2000, 1999 and 1998, respectively. Management believes the terms for such services are equivalent to those available in the market. The Company has an option to purchase the executive officers interest in each of these properties which expires October 2003. The option price of each property was established at the date the options were granted.
At December 31, 2000, other assets included outstanding loan advances totaling $2.4 million due from a related party, under a $5.7 million demand loan agreement. The loan bears interest at LIBOR plus 2.10% and is secured by real estate assets held by the related entity, for which the Company has arrangements to acquire in future periods. Interest earned under the agreement and included in the accompanying consolidated statements of operations totaled $226,853 in the year ended December 31, 2000.
(5) Investments in Unconsolidated Companies
In October 2000, the Company sold or contributed $469 million of industrial properties and $18 million of undeveloped land to a joint venture (Dugan Realty LLC) in which the Company has a 50% interest. This transaction expands an existing joint venture with an institutional real estate investor. Upon completion of the transaction, the joint venture owns 129 buildings totaling more than 21 million square feet with a value of approximately $800 million at December 31, 2000. The venture properties are secured by $383 million of first mortgage debt. The Company received $363.9 million of proceeds and recorded a net gain of $35.2 million as a result of the transaction. In connection with this transaction, the joint venture partners were given an option to put up to $50 million interest in the joint venture to the Company in exchange for common stock of the Company or cash, subject to timing and other restrictions. As a result of this put option, the Company deferred $10.2 million of gain on sale of property to the joint venture and recorded a $50 million liability. The Company provides real estate related services to the venture through its Service Operations.
In December 2000, the Company contributed 14 industrial properties, including five under development, totaling approximately three million square feet to a joint venture (Dugan Texas LLC) in which the Company has a 50% interest. The Company also contributed 145 acres of undeveloped land. Following the Company's contribution and that of the other joint venture partner, the joint venture owns 29 buildings totaling 4.6 million square feet and approximately 165 acres of undeveloped land. The Company received $33.1 million of proceeds and recorded a net gain of $686,000 as a result of the transaction. The Company provides real estate related services to the venture through its Service Operations.
Combined summarized financial information of the companies which are accounted for by the equity method as of December 31, 2000 and 1999, and for the years ended December 31, 2000, 1999, and 1998, are as follows (in thousands):
2000
|
1999
|
1998
|
|
Land, buildings and tenant improvements, net | $1,159,198 | $393,853 | |
Land held for development | 54,951 | 29,150 | |
Other assets |
83,534
|
66,127
|
|
$1,297,683
|
$489,130
|
||
Property indebtedness | $436,914 | $128,794 | |
Other liabilities |
65,554
|
29,682
|
|
502,468 | 158,476 | ||
Owners' equity |
795,215
|
330,654
|
|
$1,297,683
|
$489,130
|
||
Rental income |
$80,686
|
$54,662
|
$52,703
|
Net income |
$28,299
|
$20,515
|
$19,753
|
(6) Real Estate Held for Sale
The Company has a capital recycling program through which it is continually pursuing favorable opportunities to dispose of real estate assets that no longer meet long-term investment objectives of the Company in order to redeploy capital. At December 31, 2000, the Company had 15 office, 12 industrial and one retail property comprising approximately 3.3 million square feet held for sale. Of these properties, four build-to-suit office, seven build-to-suit industrial and one build-to-suit retail property were under development at December 31, 2000. Net operating income (defined as total property revenues, less property expenses, which include real estate taxes, repairs and maintenance, property management, utilities, insurance and other expenses) of the properties held for sale for the years ended December 31, 2000, 1999 and 1998 is approximately $5.8 million, $5.5 million, and $5.3 million, respectively. Net book value of the properties held for sale at December 31, 2000 is approximately $112.0 million. There can be no assurance that such properties held for sale will be sold.
(7) Indebtedness
Indebtedness at December 31 consists of the following (in thousands):
2000
|
1999
|
|
Fixed rate secured debt, weighted average interest rate of 8.02% at December 31, 2000, and 7.98 % at December 31, 1999, maturity dates ranging from 2001 to 2017 | $357,199 | $451,080 |
Variable rate secured debt, weighted average interest rate of 7.36% at December 31, 2000, and 6.32% at December 31, 1999, maturity dates ranging from 2003 to 2025 | 109,425 | 77,585 |
Unsecured notes, weighted average interest rate of 7.13% at December 31, 2000, and 7.16% at December 31, 1999, maturity dates ranging from 2001 to 2028 | 1,286,591 | 1,326,811 |
Unsecured line of credit, interest rate of 7.35% at December 31, 2000, and 6.47% at December 31, 1999, maturity date of 2001 |
220,000
|
258,000
|
$1,973,215
|
$2,113,476
|
As of December 31, 2000,
the $466.6 million of secured debt is collateralized by rental properties with
a net carrying value of $782.0 million.
The Company has the following lines of credit available (in thousands):
Description |
Borrowing Capacity |
Maturity Date |
Interest Rate |
Outstanding at December 31, 2000 |
Unsecured Line of Credit | $450,000 | April 2001 | LIBOR + .70% | $220,000 |
Unsecured Line of Credit | $300,000 | June 2001 | LIBOR + .775% | $- |
Secured Line of Credit | $150,000 | January 2003 | LIBOR + 1.05% | $52,657 |
The lines of credit are used to fund development and acquisition of additional rental properties and to provide working capital.
The $450 million line of credit allows the Company an option to obtain borrowings from the financial institutions that participate in the line of credit at rates lower than the stated interest rate, subject to certain restrictions. Amounts outstanding on the line of credit at December 31, 2000 are at LIBOR +.55% to.70%.
In July 1999 in conjunction with the Weeks Merger, the Company assumed an $85 million unsecured syndicated bank term loan (the Term Loan). Interest accrues on the Term Loan at LIBOR + 1.10% and the Term Loan matures on December 31, 2001. The Company also assumed three interest rate swap agreements with three commercial banks that effectively changes the interest costs on the entire $85 million Term Loan from its variable rate to a fixed rate. The interest rate swap agreements, with notational principal amounts of $35 million, $25 million and $25 million, mature on December 31, 2001, and effectively convert interest costs on the Term Loan to a fixed rate of approximately 6.1% through maturity. The estimated fair market value of the swap agreements was $780,904 at December 31, 2000.
The Company has an interest rate swap agreement (the "Agreement") on $40.0 million of the Company's outstanding mortgage debt to effectively fix the interest rate. Under the Agreement, the Company pays or receives the difference between a fixed rate of 5.99% and a floating rate of 30-day LIBOR plus 1.75% based on the notational principal amount of $40.0 million. The amount paid or received under the Agreement is included in interest expense on a monthly basis. The Agreement matures along with the related mortgage loan in January 2003. The Agreement will stay in place until maturity unless the 30-day LIBOR rate on the date of monthly repricing exceeds 6.51% which will cause a termination of the Agreement until such time the monthly repricing is lower than 6.51%. The 30-day LIBOR rate at December 31, 2000, was 6.56%. The estimated fair value of the Agreement at December 31, 2000, was ($383,143). The Company also has an interest rate cap on the same $40 million of mortgage debt which limits the Company's floating interest rate expense to no more than 10.16% for the term of the loan.
At December 31, 2000, scheduled amortization and maturities of all indebtedness for the next five years and thereafter are as follows (in thousands):
Year
|
Amount
|
2001 | 411,015 |
2002 | 66,847 |
2003 | 345,481 |
2004 | 186,133 |
2005 | 222,298 |
Thereafter |
741,441
|
$1,973,215
|
Cash paid for interest in 2000, 1999, and 1998 was $156.5 million, $100.3 million and $63.6 million, respectively. Total interest capitalized in 2000, 1999 and 1998 was $33.0 million, $26.0 million and $8.5 million, respectively.
(8) Segment Reporting
The Company is engaged in four operating segments, the ownership and rental of office, industrial, and retail real estate investments and the providing of various real estate services such as property management, maintenance, landscaping, leasing, and construction management to third-party property owners (Service Operations). The Companys reportable segments offer different products or services and are managed separately because each requires different operating strategies and management expertise. There are no material intersegment sales or transfers.
Non-segment revenue to reconcile to total revenue consists mainly of equity in earnings of joint ventures. Non-segment assets to reconcile to total assets consists of corporate assets including cash, deferred financing costs and investments in unconsolidated subsidiaries.
The accounting policies of the segments are the same as those described in Note 2.
The Company assesses and measures segment operating results based on a performance measure referred to as Funds From Operations (FFO). The National Association of Real Estate Investment Trusts defines FFO as net income or loss, excluding gains or losses from debt restructurings and sales of depreciated property, plus operating property depreciation and amortization and adjustments for minority interest and unconsolidated companies on the same basis. FFO is not a measure of operating results or cash flows from operating activities as measured by generally accepted accounting principles, is not necessarily indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity. Interest expense and other non-property specific revenues and expenses are not allocated to individual segments in determining the Companys performance measure.
The revenues and FFO for each of the reportable segments are summarized as follows for the years ended December 31, 2000, 1999, and 1998, and the assets of each reportable segment as of December 31, 2000 and 1999 (in thousands):
2000
|
1999
|
1998
|
|
Revenues Rental Operations: |
|||
Office | $336,271 | $272,009 | $211,638 |
Industrial | 328,302 | 220,295 | 104,658 |
Retail | 28,935 | 26,467 | 21,102 |
Service Operations |
82,799
|
54,031
|
24,716
|
Total Segment Revenues | 776,307 | 572,802 | 362,114 |
Non-Segment Revenue |
18,318
|
16,792
|
11,227
|
Consolidated Revenue |
$794,625
|
$589,594
|
$373,341
|
Funds From Operations | |||
Rental Operations: | |||
Office | $229,427 | $187,541 | $146,545 |
Industrial | 256,813 | 172,629 | 82,327 |
Retail | 23,368 | 21,506 | 17,414 |
Services Operations |
32,760
|
17,872
|
7,195
|
Total Segment FFO | 542,368 | 399,548 | 253,481 |
Non-Segment FFO: | |||
Interest expense | (133,948) | (86,757) | (60,217) |
Interest income | 6,866 | 2,674 | 1,562 |
General and administrative expense | (21,144) | (16,556) | (11,573) |
Gain on land sales | 9,165 | 1,777 | - |
Other expenses | (2,826) | (1,540) | (2,498) |
Minority interest in earnings of common unitholders | (32,071) | (19,811) | (12,241) |
Minority interest in earnings of preferred unitholders | (8,408) | (4,204) | - |
Other minority interest in earnings of subsidiaries | (2,145) | (2,050) | (1,252) |
Minority interest share of FFO adjustments | (15,698) | (13,159) | (8,514) |
Joint Venture FFO | 24,182 | 16,955 | 15,159 |
Dividends on preferred shares |
(48,981)
|
(42,604)
|
(19,833)
|
Consolidated FFO | 317,360 | 234,273 | 154,074 |
Depreciation and amortization | (159,888) | (108,863) | (68,766) |
Share of joint venture adjustments | (9,104) | (5,268) | (4,302) |
Earnings from depreciated property sales | 48,892 | 6,155 | 1,351 |
Minority interest share of adjustments |
15,698
|
13,159
|
8,514
|
Net income available for common shareholders |
$212,958
|
$139,636
|
$90,871
|
Assets | |||
Rental Operations | |||
Office | $2,473,191 | $2,252,795 | $1,485,268 |
Industrial | 2,265,237 | 2,707,028 | 979,058 |
Retail | 186,389 | 205,993 | 166,157 |
Service Operations |
128,249
|
62,335
|
55,268
|
Total Segment Assets | 5,053,066 | 5,228,151 | 2,658,751 |
Non-Segment Assets |
406,970
|
258,087
|
167,902
|
Consolidated Assets |
$5,460,036
|
$5,486,238
|
$2,853,653
|
(9) Leasing Activity
Future minimum rents due to the Company under non-cancelable operating leases at December 31, 2000 are as follows (in thousands):
Year
|
Amount
|
2001 | $538,366 |
2002 | 490,194 |
2003 | 434,868 |
2004 | 363,205 |
2005 | 286,733 |
Thereafter |
921,455
|
$3,034,821
|
In addition to minimum rents, certain leases require reimbursements of specified operating expenses which amounted to $114.2 million, $85.1 million, and $56.5 million for the years ended December 31, 2000, 1999 and 1998, respectively.
(10) Employee Benefit Plans
The Company maintains a 401(k) plan for the benefit of its full-time employees. The Company matches the employees' contributions up to three percent of the employees' salary and may also make annual discretionary contributions. Total expense recognized by the Company was $3.2 million, $2.3 million and $1.5 million for the years ended 2000, 1999 and 1998, respectively.
The Company makes contributions to a contributory health and welfare plan as necessary to fund claims not covered by employee contributions. Total expense recognized by the Company related to this plan was $6.0 million, $2.7 million and $2.2 million for 2000, 1999 and 1998, respectively. Included in total expense is an estimate based on historical experience of the effect of claims incurred but not reported as of year-end.
(11) Shareholders' Equity
The Company periodically accesses the public equity markets to fund the development and acquisition of additional rental properties. The proceeds of these offerings are contributed to DWRLP in exchange for additional interest in the partnership.
The following series of preferred stock are outstanding as of December 31, 2000 (in thousands, except percentages):
Description |
Shares Outstanding |
Dividend Rate |
Redemption Date |
Liquidation Preference |
Convertible |
Preferred A Series | 300 | 9.100% | August 31, 2001 | $75,000 | No |
Preferred B Series | 300 | 7.990% | September 30, 2007 | 150,000 | No |
Preferred D Series | 535 | 7.375% | December 31, 2003 | 133,874 | Yes |
Preferred E Series | 400 | 8.250% | January 20, 2004 | 100,000 | No |
Preferred F Series | 600 | 8.000% | October 10, 2002 | 150,000 | No |
All series of preferred shares require cumulative distributions, have no stated maturity date, and the redemption price of each series may only be paid from the proceeds of other capital shares of the Company, which may include other classes or series of preferred shares.
The Preferred Series D shares are convertible at a conversion rate of 9.3677 common shares for each preferred share outstanding.
The dividend rate on the Preferred B Series shares increases to 9.99% after September 12, 2012.
Under a shareholder rights plan (Rights Agreement), each common shareholder has one right for each share of common stock prior to the occurrence of certain triggering events which would in effect execute the Rights Agreement. Upon the occurrence of such events, each right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series C Junior Preferred Stock which has substantially the same economic attributes and carries substantially the same voting rights as one share of common stock. As of December 31, 2000, no events have triggered execution of the Rights Agreement.
In August 1998, members of management and unaffiliated members of the Companys Board of Directors purchased approximately $37 million of common stock of the Company. In November 1999, an additional $32 million of common stock was purchased by management and members of the Board of Directors. Both purchases were financed by five-year personal loans at market interest rates from a financial institution. Participants are personally responsible for repaying the interest, principal balance, and other obligations as defined in the Executive and Senior Officer Stock Purchase Plan. As a condition of the financing agreement with the financial institution, the Company has guaranteed repayment of principal, interest and other obligations for each participant, but is fully indemnified by the participants. In the opinion of management, it is not probable that the Company will be required to satisfy this guarantee.
(12) Stock Based Compensation
The Company has eight stock based compensation plans, including fixed stock option plans and performance based stock plans, which are described below. The Company is authorized to issue up to 12,084,000 shares of Company stock under these plans. The Company applies APB Opinion No. 25 and related interpretations in accounting for its plans. Accordingly, no compensation cost has been recognized for its fixed stock option plans as the exercise price of each option equals the market price of the Companys stock on the date of grant. The Company charges compensation costs against its income for its performance based stock plans. If compensation cost for the Companys fixed stock option plans had been determined consistent with SFAS Statement No. 123, the Companys net income and net income per share for the years ended December 31 would have been reduced to the pro forma amounts indicated below (in thousands, except earnings per share amounts):
2000
|
1999
|
1998
|
||
Net income | As reported | $212,958 | $139,636 | $90,871 |
Pro forma | $212,365 | $139,121 | $90,564 | |
Basic net income per share | As reported | $1.68 | $1.33 | $1.13 |
Pro forma | $1.67 | $1.33 | $1.12 | |
Diluted net income per share | As reported | $1.66 | $1.32 | $1.12 |
Pro forma | $1.65 | $1.32 | $1.11 |
Because the Statement does not apply to awards prior to 1995, and the options have up to a 5-year vesting period, the pro forma effect was not fully reflected until 2000.
The fair values of the options were determined using the Black-Scholes option-pricing model with the following assumptions:
2000
|
1999
|
1998
|
|
Dividend yield | 7.0% | 7.0% | 7.0% |
Volatility | 20.2% | 20.1% | 19.9% |
Risk-free interest rate | 5.8% | 4.9% | 5.7% |
Expected life | 6 years | 6.5 years | 6.5 years |
Fixed Stock Option Plans
The Company had options outstanding under six fixed stock option plans as of December 31, 2000. Additional grants may be made under three of those plans. In 1999, upon the merger of Weeks Corporation into the Company, the Company assumed all obligations under two Weeks Corporation stock incentive plans.
A summary of the status of the Companys fixed stock option plans as of December 31, 2000, 1999 and 1998 and changes during the years ended on those dates follows:
2000
|
1999
|
1998
|
||||
Shares |
Weighted Average Exercise Price |
Shares
|
Weighted Average Exercise Price |
Shares
|
Weighted Average Exercise Price |
|
Outstanding, beginning of year | 5,043,965 | $19.00 | 2,047,972 | $16.70 | 1,927,380 | $14.26 |
Granted | 958,786 | 20.04 | 615,003 | 22.96 | 1,681,611 | 22.32 |
Weeks Corporation options | 0 | 0 | 2,617,076 | 20.01 | 0 | 0 |
Exercised | (440,924) | 13.66 | (56,371) | 14.11 | (1,543,026) | 19.72 |
Forfeited |
(326,363)
|
20.95 |
(179,715)
|
22.79 |
(17,993)
|
21.50 |
Outstanding, end of
year |
5,235,464
|
$19.52 |
5,043,965
|
$19.00 |
2,047,972
|
$16.70 |
Options exercisable, end of year |
3,112,706
|
2,596,660
|
1,067,753
|
|||
Weighted-average fair value of options granted during the year |
$2.18
|
$2.20
|
$.836
|
|||
The options outstanding at December 31, 2000, under the fixed stock option plans have a range of exercise prices from $11.87 to $24.44 with a weighted average exercise price of $19.52 and a weighted average remaining contractual life of 6.72 years. The options exercisable at December 31, 2000 have a weighted average exercise price of $18.39.
Each options maximum term is ten years. Excluding the Weeks Corporation plans and with other limited exceptions, options vest at 20% per year, or, if earlier, upon the death, retirement or disability of the optionee or a change in control of the Company. The vesting period of the Weeks Corporation plans was generally 33 1/3% per year.
Performance Based Stock Plans
The Company has three types of performance based equity compensation plans: Dividend Increase Unit Plans (DIU Plans), a Shareholder Value Plan and a Performance Share Plan. Under the Companys DIU Plans, Dividend Increase Units (DIUs) are granted to key employees and directors. The value of DIUs exercised by participants is payable in Company stock. The maximum term of all DIUs granted is ten years.
The value of each DIU when exercised is equal to the increase in the Companys annualized dividend per share from the date of grant to the date of exercise, divided by the dividend yield. Dividend yield is the annualized dividend per share divided by the market price per share of the Companys common stock at the date of grant. DIUs are generally subject to a 20% per year vesting schedule.
Under the 1995 Shareholder Value Plan (the SV Plan), the Company may grant awards in specified dollar amounts to key employees. The award is payable to the employee on the third anniversary of the date of grant. One-half of the award is payable in common stock of the Company, and one-half is payable in cash. The initial dollar amount of each award granted under the SV Plan is adjusted upward or downward based on a comparison of the Companys cumulative total shareholder return for the three year period as compared to the cumulative total return of the S&P 500 and the NAREIT Equity REIT Total Return indices. The award is not payable upon the employees termination of employment for any reason other than retirement, death, disability or a change in control of the Company.
Awards made under the 2000 Performance Share Plan vest 20% per year if the Company attains a certain predefined levels of earnings growth for such vesting period. The payments are made in the form of performance shares, with each performance share economically equivalent to one share of Company common stock. Performance shares will ultimately be paid to the participants in the form of cash or Company common stock upon the retirement or termination of employment of the participant. At December 31, 2000, plan participants had the right to receive up to 90,571 performance shares, contingent upon earnings achievement.
The Company believes that it is not possible to reasonably estimate the fair value of the awards to be paid under these performance compensation plans and, therefore, computes compensation cost for these plans based on the intrinsic value of the awards as if they were exercised at the end of each applicable reporting period. The compensation cost that has been charged against income for these plans was $7.7 million, $5.9 million and $4.1 million for 2000, 1999 and 1998, respectively.
(13) Commitments and Contingencies
The Company has guaranteed $382.4 million of mortgage loans of unconsolidated companies of which the Company is a 50% partner. The mortgage loans are collateralized by rental properties of joint ventures which have a net carrying value substantially in excess of the mortgage loans. The Company does not anticipate that it will be required to satisfy these guarantees.
The Company has entered into agreements, subject to the completion of due diligence requirements, resolution of certain contingencies and completion of customary closing conditions, for the future acquisition of land totaling $40.3 million. The acquisitions are scheduled to close periodically through 2008 and will be paid for through a combination of cash and DWRLP Limited Partner Unit issuance.
DUKE-WEEKS REALTY CORPORATION AND SUBSIDIARIES
DUKE-WEEKS REALTY CORPORATION | ||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||||||||||
DECEMBER 31, 2000 | ||||||||||||
(IN THOUSANDS) |
INITIAL COST TO COMPANY
|
GROSS BOOK VALUE AT DECEMBER 31, 2000
|
||||||||||
LOCATION/DEVELOPMENT
|
BUILDING
|
BUILDING TYPE
|
ENCUMBERANCES
|
LAND
|
BUILDINGS & IMPROVEMENTS
|
COSTS CAPITALIZEDSUBSEQUENT TO ACQUISITION
|
LAND & IMPROVEMENTS
|
BUILDINGS & IMPROVEMENTS
|
TOTAL
|
ACCUMULATED DEPRECIATION
|
DATE OF CONSTRUCTION
|
DATE OF ACQUISITION
|
ALPHARETTA,
GEORGIA
|
||||||||||||
Brookside Office Park | 3925 Brookside Parkway | Office | - | 1,269 | 14,719 | - | 1,269 | 14,718 | 15,987 | 559 | 1998 | 1999 |
Brookside Office Park | 3625 Brookside Pkwy | Office | - | 1,625 | 10,919 | 2,231 | 1,625 | 13,150 | 14,775 | 449 | 1999 | 1999 |
Hembree Crest | 11800 Wills Road | Industrial | - | 304 | 2,146 | 41 | 304 | 2,187 | 2,491 | 80 | 1987 | 1999 |
Hembree Crest | 11810 Wills Road | Industrial | - | 296 | 2,254 | 217 | 296 | 2,471 | 2,767 | 102 | 1987 | 1999 |
Hembree Crest | 11820 Wills Road | Industrial | - | 488 | 2,277 | 835 | 488 | 3,111 | 3,599 | 115 | 1987 | 1999 |
Hembree Crest | 11415 Old Roswell Road | Industrial | - | 648 | 2,454 | 463 | 648 | 2,917 | 3,565 | 151 | 1991 | 1999 |
Northmeadow | 1350 Northmeadow Parkway | Industrial | - | 672 | 3,648 | 134 | 672 | 3,783 | 4,455 | 154 | 1994 | 1999 |
Northmeadow | 11835 Alpharetta Highway | Retail | - | 524 | 2,861 | - | 524 | 2,861 | 3,385 | 106 | 1994 | 1999 |
Northwinds Pointe | 2550 Northwinds Parkway | Office | - | 2,271 | 20,017 | 18 | 2,271 | 20,034 | 22,306 | 751 | 1998 | 1999 |
Ridgeland | 1320 Ridgeland Pkwy | Industrial | - | 998 | 5,874 | 37 | 998 | 5,912 | 6,910 | 212 | 1999 | 1999 |
Ridgeland | Ridgeland Business Dist I | Industrial | - | 488 | 2,910 | 1,269 | 488 | 4,179 | 4,667 | 255 | 1999 | 1999 |
Brookside Office Park | Radiant Systems Phase II | Office | - | 831 | 6,210 | - | 831 | 6,210 | 7,041 | - | 2000 | 2000 |
Founders Park | Founders Park SC 1 | Industrial | 2,593 | 1,936 | 6,505 | - | 1,936 | 6,504 | 8,441 | 74 | 1999 | 1999 |
Ridgeland | Ridgeland Business Dist. II | Industrial | - | 579 | 2,310 | - | 579 | 2,310 | 2,890 | 57 | 1999 | 1999 |
ANTIOCH,
TENNESSEE
|
||||||||||||
Keebler | Keebler | Industrial | - | 307 | 1,299 | - | 307 | 1,298 | 1,606 | 183 | 1985 | 1995 |
ARLINGTON
HEIGHTS, ILLINOIS
|
||||||||||||
Atrium II | Atrium II | Office | - | 776 | 7,170 | 814 | 776 | 7,984 | 8,760 | 578 | 1986 | 1998 |
ATLANTA,
GEORGIA
|
||||||||||||
1670 Defoor Avenue | 1670 Defoor Avenue | Industrial | - | 82 | 1,553 | 117 | 82 | 1,670 | 1,752 | 63 | 1960 | 1999 |
Druid Chase | 6 W. Druid Hills Drive | Office | - | 473 | 6,758 | 292 | 473 | 7,050 | 7,523 | 258 | 1968 | 1999 |
Druid Chase | 2801 Buford Highway | Office | - | 794 | 9,905 | 647 | 794 | 10,552 | 11,346 | 388 | 1977 | 1999 |
Druid Chase | 1190 W. Druid Hills Drive | Office | - | 689 | 6,631 | 314 | 689 | 6,945 | 7,634 | 246 | 1980 | 1999 |
Druid Chase | 2071 N. Druid Hills Drive | Retail | - | 98 | 321 | - | 98 | 321 | 419 | 12 | 1968 | 1999 |
AURORA,
ILLINOIS
|
||||||||||||
Meridian Business Campus | 535 Exchange | Industrial | - | 452 | 920 | - | 452 | 920 | 1,372 | 52 | 1984 | 1999 |
Meridian Business Campus | 515-525 Enterprise | Industrial | - | 342 | 1,668 | 86 | 342 | 1,754 | 2,097 | 105 | 1984 | 1999 |
Meridian Business Campus | 615 Enterprise | Industrial | - | 468 | 2,824 | 93 | 468 | 2,917 | 3,385 | 151 | 1984 | 1999 |
Meridian Business Campus | 3615 Exchange | Industrial | - | 410 | 1,603 | 38 | 410 | 1,641 | 2,051 | 92 | 1986 | 1999 |
Meridian Business Campus | 4000 Sussex | Industrial | - | 417 | 1,929 | - | 417 | 1,929 | 2,346 | 106 | 1990 | 1999 |
Meridian Business Campus | 700 North Commerce | Industrial | - | 694 | 3,272 | - | 694 | 3,272 | 3,966 | 176 | 1989 | 1999 |
Meridian Business Campus | 3737 E. Exchange | Industrial | - | 598 | 2,531 | - | 598 | 2,531 | 3,129 | 132 | 1985 | 1999 |
Meridian Business Campus | 444 N. Commerce | Industrial | - | 722 | 5,367 | 345 | 722 | 5,712 | 6,434 | 276 | 1985 | 1999 |
Meridian Corridor | Meridian I | Industrial | - | 1,523 | 5,871 | - | 1,147 | 6,247 | 7,394 | 237 | 2000 | 2000 |
Meridian Business Campus | Michael Jordan Golf Center | Grounds | - | 1,412 | - | 111 | 1,523 | - | 1,523 | - | N/A | 1999 |
Meridian Business Campus | Meridian Outlot | Grounds | - | 894 | - | - | 894 | - | 894 | - | N/A | 2000 |
BEACHWOOD,
OHIO
|
||||||||||||
Corporate Exchange | One Corporate Exchange | Office | 5,248 | 1,287 | 8,674 | 1,092 | 1,287 | 9,766 | 11,053 | 1,296 | 1989 | 1996 |
Corporate Place | Corporate Place | Office | - | 1,161 | 7,792 | 531 | 1,163 | 8,321 | 9,484 | 865 | 1988 | 1996 |
BLOOMINGTON,
ILLINOIS
|
||||||||||||
Lakewood Plaza | Lakewood Plaza | Retail | - | 766 | 7,576 | 758 | 786 | 8,314 | 9,100 | 2,479 | 1987 | 1988 |
BLOOMINGTON,
MINNESOTA
|
||||||||||||
Alpha Buildings | Alpha Business Ctr I&II | Office | - | 280 | 1,598 | 89 | 280 | 1,687 | 1,967 | 76 | 1980 | 1999 |
Alpha Buildings | Alpha Business Ctr III&IV | Industrial | - | 341 | 1,948 | 118 | 341 | 2,067 | 2,408 | 95 | 1980 | 1999 |
Alpha Buildings | Alpha Business Ctr V | Industrial | - | 537 | 3,065 | 51 | 538 | 3,115 | 3,652 | 120 | 1980 | 1999 |
Bloomington Industrial Ctr | Bloomington Industrial Center | Industrial | 1,761 | 621 | 3,626 | 780 | 621 | 4,407 | 5,027 | 462 | 1963 | 1997 |
Lyndale Commons | Lyndale Commons I | Industrial | - | 247 | 1,431 | 285 | 247 | 1,716 | 1,963 | 178 | 1981 | 1998 |
Lyndale Commons | Lyndale Commons II | Industrial | - | 181 | 1,048 | 96 | 183 | 1,142 | 1,325 | 103 | 1985 | 1998 |
Hampshire Dist. Center | Hampshire Dist Center North | Industrial | 2,574 | 779 | 4,483 | 56 | 779 | 4,539 | 5,318 | 355 | 1979 | 1997 |
Hampshire Dist. Center | Hampshire Dist Center South | Industrial | 3,010 | 901 | 5,215 | 102 | 901 | 5,316 | 6,218 | 430 | 1979 | 1997 |
Hampshire Tech Center | Hampshire Tech Center | Industrial | - | 2,124 | 13,066 | 622 | 2,223 | 13,588 | 15,812 | 1,012 | 1998 | 1998 |
Norman Center | Norman Center 2 | Office | - | 782 | 4,442 | 139 | 807 | 4,556 | 5,363 | 294 | 1970 | 1998 |
Norman Center | Norman Center 4 | Office | - | 562 | 3,251 | 291 | 579 | 3,525 | 4,103 | 239 | 1967 | 1998 |
Norman Center Plaza | Norman Pointe I | Office | - | 3,630 | 22,229 | - | 3,630 | 22,229 | 25,858 | 18 | 2000 | 2000 |
Penn Corporate Building | Penn Corporate Bldg | Industrial | - | 312 | 1,801 | 22 | 312 | 1,823 | 2,134 | 143 | 1977 | 1997 |
BLUE
ASH, OHIO
|
||||||||||||
Cornell Commerce Center | Cornell Commerce Center | Industrial | - | 495 | 4,755 | 313 | 495 | 5,068 | 5,563 | 771 | 1989 | 1996 |
Creek Road | Creek Road Bldg 1 | Industrial | - | 103 | 833 | 36 | 103 | 870 | 972 | 91 | 1971 | 1996 |
Creek Road | Creek Road Bldg 2 | Industrial | - | 132 | 1,149 | 42 | 132 | 1,191 | 1,322 | 124 | 1971 | 1996 |
Huntington Bank Building | Huntington Bank Building | Office | - | 175 | 241 | - | 175 | 241 | 416 | 25 | 1986 | 1996 |
Lake Forest/Westlake | Lake Forest Place | Office | - | 1,953 | 20,098 | 1,523 | 1,953 | 21,621 | 23,574 | 2,725 | 1985 | 1996 |
Lake Forest/Westlake | Westlake Center | Office | - | 2,459 | 16,790 | 1,368 | 2,459 | 18,158 | 20,617 | 2,517 | 1981 | 1996 |
BOLINGBROOK,
ILLINOIS
|
||||||||||||
Crossroads Business Park | Chapco Carton Company | Industrial | - | 914 | 4,334 | - | 914 | 4,334 | 5,247 | - | 2000 | 2000 |
BRANDON,
FLORIDA
|
||||||||||||
Regency Park North | Regency I | Office | - | 1,048 | 2,434 | - | 1,048 | 2,434 | 3,481 | 0 | 2000 | 2000 |
BRENTWOOD,
TENNESSEE
|
||||||||||||
Brentwood South Bus. Center | 7104 Crossroads Blvd | Industrial | - | 1,065 | 5,994 | 109 | 1,065 | 6,103 | 7,168 | 227 | 1987 | 1999 |
Brentwood South Bus. Center | 7106 Crossroads Blvd | Industrial | - | 1,065 | 2,836 | 839 | 1,065 | 3,674 | 4,740 | 136 | 1987 | 1999 |
Brentwood South Bus. Center | 7108 Crossroads Blvd | Industrial | - | 848 | 4,141 | 35 | 848 | 4,175 | 5,023 | 155 | 1989 | 1999 |
Creekside Crossing | Creekside Crossing One | Office | - | 1,900 | 8,377 | 1,406 | 1,901 | 9,782 | 11,683 | 1,510 | 1998 | 1998 |
Creekside Crossing | Creekside Crossing Two | Office | - | 2,087 | 8,612 | - | 2,087 | 8,612 | 10,698 | 298 | 1999 | 1999 |
BROOKLYN
PARK, MINNESOTA
|
||||||||||||
Crosstown NW | Crosstown North Bus. Ctr. 1 | Industrial | - | 835 | 5,443 | 715 | 1,000 | 5,993 | 6,993 | 340 | 1998 | 1999 |
Crosstown NW | Crosstown North Bus. Ctr. 2 | Industrial | - | 449 | 2,946 | 222 | 483 | 3,133 | 3,616 | 172 | 1998 | 1999 |
Crosstown NW | Crosstown North Bus. Ctr. 3 | Industrial | - | 758 | 2,826 | - | 758 | 2,825 | 3,583 | 218 | 1999 | 1999 |
Crosstown NW | Crosstown North Bus. Ctr. 4 | Industrial | - | 2,079 | 8,098 | - | 2,079 | 8,098 | 10,177 | 418 | 1999 | 1999 |
7300 Northland Drive | 7300 Northland Drive | Industrial | - | 700 | 6,598 | - | 703 | 6,595 | 7,298 | 528 | 1999 | 1998 |
Crosstown Nw | Crosstown North Bus Ctr 5 | Industrial | - | 1,131 | 5,387 | 20 | 1,131 | 5,407 | 6,538 | 190 | 1999 | 1999 |
Crosstown Nw | Crosstown North Bus Ctr 6 | Industrial | - | 826 | 3,291 | - | 826 | 3,291 | 4,116 | 66 | 2000 | 2000 |
BURNSVILLE,
MINNESOTA
|
||||||||||||
Professional Plaza | Professional Plaza I | Office | - | 467 | 2,716 | 189 | 467 | 2,905 | 3,372 | 235 | 1986 | 1998 |
Professional Plaza | Professional Plaza IV | Industrial | - | 248 | 1,425 | 81 | 248 | 1,506 | 1,754 | 137 | 1980 | 1998 |
1420 East Cliff Road | Cliff Road Industrial Ctr | Industrial | - | 256 | 1,481 | 100 | 256 | 1,581 | 1,838 | 158 | 1972 | 1998 |
Professional Plaza | Professional Plaza III | Industrial | - | 237 | 1,359 | 249 | 241 | 1,604 | 1,845 | 140 | 1985 | 1998 |
Professional Plaza | Professional Plaza II | Industrial | - | 216 | 1,261 | 221 | 216 | 1,483 | 1,699 | 135 | 1984 | 1998 |
Larc Industrial Park | Larc Industrial Park I | Industrial | - | 280 | 1,631 | 99 | 280 | 1,730 | 2,009 | 169 | 1977 | 1997 |
Larc Industrial Park | Larc Industrial Park II | Industrial | - | 224 | 1,315 | 86 | 224 | 1,401 | 1,625 | 100 | 1976 | 1997 |
Larc Industrial Park | Larc Industrial Park III | Industrial | - | 135 | 800 | - | 135 | 800 | 935 | 67 | 1980 | 1997 |
Larc Industrial Park | Larc Industrial Park IV | Industrial | - | 90 | 539 | - | 90 | 539 | 629 | 46 | 1980 | 1997 |
Larc Industrial Park | Larc Industrial Park V | Industrial | - | 96 | 555 | 174 | 96 | 729 | 825 | 56 | 1980 | 1997 |
Larc Industrial Park | Larc Industrial Park VI | Industrial | - | 373 | 2,149 | 72 | 373 | 2,221 | 2,594 | 182 | 1975 | 1997 |
Larc Industrial Park | Larc Industrial Park VII | Industrial | - | 242 | 1,394 | 228 | 242 | 1,622 | 1,864 | 175 | 1973 | 1997 |
CANAL
WINCHESTER, OH
|
||||||||||||
Canal Winchester | Nifco at Canal Winchester | Industrial | - | 400 | 3,272 | - | 400 | 3,272 | 3,672 | 30 | 2000 | 2000 |
CARMEL,
INDIANA
|
||||||||||||
Hamilton Crossing | H.C. Building 1 West | Industrial | - | 835 | 4,839 | 1,186 | 847 | 6,013 | 6,860 | 735 | 1989 | 1993 |
Hamilton Crossing | Hamilton Crossing Bldg 2 | Office | - | 313 | 1,393 | 832 | 384 | 2,154 | 2,538 | 303 | 1997 | 1997 |
Hamilton Crossing | Hamilton Crossing Bldg 4 | Office | - | 515 | 6,439 | - | 598 | 6,356 | 6,954 | 543 | 1999 | 1999 |
Hamilton Crossing Retail | Hamilton Crossing Retail Bld 1 | Retail | - | 728 | 6,708 | - | 898 | 6,538 | 7,436 | 301 | 1999 | 1999 |
Hamilton Crossing | Hampton Inn Land Lease | Grounds | - | 137 | - | 72 | 209 | - | 209 | 8 | N/A | 1999 |
Hamilton Crossing | Max & Ermas | Grounds | - | 167 | - | - | 167 | - | 167 | - | N/A | 2000 |
CARY,
NORTH CAROLINA
|
||||||||||||
Regency Forrest | 200 Regency Forest Drive | Office | - | 1,230 | 13,501 | 181 | 1,230 | 13,682 | 14,912 | 559 | 1999 | 1999 |
Regency Forrest | 100 Regency Forest Drive | Office | - | 1,538 | 10,756 | 1,658 | 1,618 | 12,334 | 13,952 | 696 | 1997 | 1999 |
Weston Parkway | 6501 Weston Parkway | Office | 7,877 | 1,775 | 10,668 | - | 1,775 | 10,668 | 12,443 | 409 | 1996 | 1999 |
CELEBRATION,
FLORIDA
|
||||||||||||
Celebration Center | 1130 Celebration Blvd. | Industrial | - | 1,102 | 4,843 | 651 | 1,102 | 5,494 | 6,596 | 244 | 1997 | 1999 |
Celebration Center | 1120 Celebration Blvd. | Industrial | - | 755 | 3,643 | 79 | 755 | 3,723 | 4,477 | 122 | 1997 | 1999 |
Celebration Center | Celebration C-9 Phase I | Office | - | 999 | 5,990 | - | 999 | 5,990 | 6,989 | 47 | 2000 | 2000 |
CHAMPAIGN,
ILLINOIS
|
||||||||||||
Market View Shopping Ctr | Market View Shopping Ctr. | Retail | - | 740 | 6,556 | - | 755 | 6,541 | 7,296 | 2,386 | 1985 | 1986 |
CHANHASSEN,
MINNESOTA
|
||||||||||||
Chanhassen Lakes | Chanhassen Lakes I | Industrial | - | 357 | 2,067 | 266 | 370 | 2,320 | 2,690 | 168 | 1983 | 1998 |
Chanhassen Lakes | Chanhassen Lakes II | Industrial | - | 438 | 2,542 | 130 | 453 | 2,657 | 3,110 | 183 | 1986 | 1998 |
CINCINNATI,
OHIO
|
||||||||||||
One Ashview Place | One Ashview Place | Office | - | 1,204 | 12,630 | 427 | 1,204 | 13,057 | 14,261 | 1,122 | 1989 | 1997 |
Blue Ash Office Center | Blue Ash Office Ctr VI | Office | - | 518 | 2,852 | 228 | 518 | 3,079 | 3,597 | 304 | 1989 | 1997 |
Zussman Building | Zussman Bldg | Office | - | 339 | 6,834 | 812 | 346 | 7,639 | 7,986 | 1,523 | 1986 | 1993 |
312 Elm | 312 Elm | Office | 39,700 | 4,750 | 47,125 | 5,558 | 5,428 | 52,005 | 57,433 | 10,909 | 1992 | 1993 |
Eastgate Square | Eastgate Square | Retail | - | 2,030 | 4,615 | 732 | 2,030 | 5,347 | 7,377 | 776 | 1996 | 1995 |
Garden Ridge | Garden Ridge (Eastgate) | Retail | - | 4,592 | 4,584 | - | 4,592 | 4,583 | 9,175 | 295 | 1998 | 1999 |
Expiration | Executive Plaza I | Office | - | 728 | 5,504 | - | 728 | 5,504 | 6,232 | 609 | 1980 | 1996 |
Expiration | Executive Plaza II | Office | - | 728 | 5,613 | 84 | 728 | 5,697 | 6,425 | 588 | 1981 | 1996 |
Expiration | Executive Plaza III | Office | - | 509 | 4,945 | 1,391 | 509 | 6,336 | 6,845 | 736 | 1998 | 1998 |
Kohl's Dept. Store | Kohl's Department Store | Retail | - | 1,345 | 3,948 | 9 | 1,345 | 3,958 | 5,303 | 596 | 1994 | 1994 |
Sofa Express-Governors Pl | Sofa Express - Gov. Plaza | Retail | - | 145 | 842 | - | 164 | 823 | 987 | 111 | 1995 | 1995 |
Office Max | Office Max | Retail | - | 651 | 1,366 | 3 | 651 | 1,369 | 2,020 | 181 | 1995 | 1995 |
Dun & Bradstreet Bldg | Dun & Bradstreet Bldg | Office | 1,589 | 270 | 2,701 | 376 | 466 | 2,882 | 3,347 | 1,054 | 1972 | 1986 |
Governors Hill | 8790 Governor's Hill | Office | - | 400 | 4,774 | 354 | 408 | 5,120 | 5,528 | 982 | 1985 | 1993 |
Governors Hill | 8700 Governor's Hill | Office | - | 459 | 5,918 | 151 | 468 | 6,060 | 6,528 | 1,083 | 1985 | 1993 |
Governors Hill | 8800 Governor's Hill | Office | - | 225 | 2,375 | - | 231 | 2,369 | 2,601 | 876 | 1985 | 1986 |
Governors Hill | 8600 Governor's Hill | Office | - | 1,220 | 18,967 | 638 | 1,245 | 19,579 | 20,824 | 3,561 | 1986 | 1993 |
Governors Plaza | Governors Plaza | Retail | - | 2,012 | 9,217 | 343 | 2,053 | 9,519 | 11,572 | 1,731 | 1990 | 1993 |
King's Auto Mal I | King's Auto Mall I | Retail | 2,773 | 1,085 | 4,209 | 546 | 1,124 | 4,717 | 5,840 | 1,447 | 1990 | 1989 |
King's Mall Retail Ctr II | King's Mall Retail Ctr II | Retail | - | 1,928 | 4,095 | 942 | 1,952 | 5,013 | 6,966 | 910 | 1988 | 1993 |
Kenwood Executive Center | Kenwood Executive Center | Office | - | 606 | 4,006 | 356 | 606 | 4,363 | 4,968 | 351 | 1981 | 1997 |
Kenwood Commons | 8230 Kenwood Commons | Office | 4,739 | 638 | 3,281 | 723 | 638 | 4,004 | 4,641 | 1,805 | 1986 | 1986 |
Kenwood Commons | 8280 Kenwood Commons | Office | 2,761 | 638 | 2,066 | - | 638 | 2,066 | 2,704 | 1,128 | 1986 | 1986 |
Kenwood MOB-Jewish | Kenwood MOB-Jewish | Office | - | - | 7,331 | - | - | 7,331 | 7,331 | 210 | 1999 | 1999 |
Ohio National | Ohio National | Office | 17,715 | 2,463 | 25,152 | - | 2,463 | 25,152 | 27,615 | 3,987 | 1996 | 1996 |
Pfeiffer Woods Office Building | Pfeiffer Woods Office Bldg | Office | 6,568 | 1,450 | 12,253 | 130 | 1,450 | 12,383 | 13,833 | 440 | 1998 | 1999 |
312 Plum | 312 Plum | Office | - | 2,539 | 24,730 | 2,552 | 2,590 | 27,230 | 29,820 | 5,734 | 1987 | 1993 |
Remington Office Park | Remington Park Bldg A | Office | - | 560 | 1,469 | 139 | 560 | 1,608 | 2,168 | 124 | 1982 | 1997 |
Remington Office Park | Remington Park Bldg B | Office | - | 560 | 1,523 | 53 | 560 | 1,576 | 2,136 | 118 | 1982 | 1997 |
Tri-County Marketplace | Tri-county Marketplace | Retail | - | 5,368 | 4,285 | 213 | 5,466 | 4,400 | 9,866 | 502 | 1998 | 1998 |
Triangle Office Park | Triangle Office Park | Office | 4,374 | 1,000 | 10,824 | 731 | 1,018 | 11,537 | 12,555 | 4,507 | 1985 | 1986 |
Western Hills Marketplace | Western Hills Marketplace | Retail | - | 3,583 | 7,778 | 146 | 3,583 | 7,924 | 11,508 | 476 | 1998 | 1997 |
World Park | World Park Bldg 5 | Industrial | 1,879 | 270 | 3,506 | 183 | 276 | 3,683 | 3,958 | 1,264 | 1987 | 1988 |
World Park | World Park Bldg 6 | Industrial | 2,057 | 378 | 3,825 | 129 | 385 | 3,948 | 4,332 | 1,097 | 1987 | 1988 |
World Park | World Park Bldg 7 | Industrial | 2,450 | 525 | 4,500 | 136 | 537 | 4,624 | 5,161 | 1,369 | 1987 | 1988 |
Governors Plaza | Linens n Things-Gov Plaza | Retail | - | 1,075 | 2,280 | - | 1,075 | 2,280 | 3,355 | 22 | 2000 | 2000 |
Iams Industrial Park | Cincinnati Bell Supply @ IAMS | Industrial | - | 606 | 3,115 | - | 606 | 3,115 | 3,721 | 71 | 1999 | 1999 |
Not Applicable | McDonalds Ground Lease | Grounds | - | 480 | - | - | 480 | - | 480 | - | N/A | 2000 |
COLUMBUS,
OHIO
|
||||||||||||
Easton Oval | One Easton Oval | Office | - | 2,789 | 12,017 | - | 2,789 | 12,018 | 14,806 | 950 | 1998 | 1999 |
Easton Oval | Two Easton Oval | Office | - | 2,489 | 16,753 | 213 | 2,489 | 16,967 | 19,455 | 1,124 | 1996 | 1998 |
Polaris | 1000 Polaris Parkway | Office | 5,055 | 1,200 | 6,618 | 716 | 1,200 | 7,334 | 8,534 | 320 | 1992 | 1999 |
Tuttle Crossing | Xerox Bldg-5555 Parkcenter Cir | Office | - | 1,580 | 9,333 | 392 | 1,580 | 9,726 | 11,306 | 1,608 | 1992 | 1994 |
Westbelt Drive | 2190-2200 Westbelt Drive | Industrial | - | 300 | 1,951 | 65 | 300 | 2,015 | 2,315 | 110 | 1986 | 1998 |
Westbelt West | Westbelt West #1 | Industrial | - | 432 | 4,133 | 765 | 432 | 4,898 | 5,330 | 204 | 1999 | 1999 |
Zane Trace | 3800 Zane Trace Dr (MBM) | Industrial | - | 170 | 2,086 | 367 | 170 | 2,453 | 2,623 | 394 | 1978 | 1994 |
Zane Trace | 3635 Zane Trace Drive | Industrial | - | 236 | 1,800 | 321 | 236 | 2,121 | 2,357 | 220 | 1980 | 1998 |
King's Mall | Applebee's Ground Lease | Grounds | - | 309 | 29 | - | 338 | - | 338 | 29 | N/A | 1997 |
Tuttle Crossing | Lazarus Ground Lease | Grounds | - | 852 | - | - | 852 | - | 852 | - | N/A | 1996 |
Tuttle Crossing | Uno's Ground Lease | Grounds | - | 587 | - | - | 587 | - | 587 | 60 | N/A | 1997 |
Tuttle Crossing | Qwest Parking Expansion | Grounds | - | 201 | 13 | - | 214 | - | 214 | 30 | N/A | 1998 |
Easton | Easton Plaza One | Office | - | 1,874 | 8,380 | - | 1,874 | 8,380 | 10,254 | 129 | 2000 | 2000 |
Westbelt West | Westbelt West #2 | Industrial | - | 509 | 4,790 | - | 509 | 4,790 | 5,299 | 104 | 1999 | 1999 |
CREVE
COUER, MISSOURI
|
||||||||||||
Twin Oaks Office Ctr | Twin Oaks | Office | - | 566 | 8,269 | 515 | 566 | 8,784 | 9,351 | 850 | 1995 | 1997 |
CRYSTAL,
MINNESOTA
|
||||||||||||
Crystal Industrial Ctr | Crystal Industrial Center | Industrial | - | 456 | 2,621 | 550 | 480 | 3,148 | 3,628 | 363 | 1974 | 1997 |
DES
PLAINES, ILLINOIS
|
||||||||||||
Deckbrand Building | Wolf Road Building | Industrial | - | 179 | 1,632 | 268 | 179 | 1,900 | 2,080 | 151 | 1969 | 1998 |
105 East Oakton | 105 East Oakton | Industrial | - | 1,132 | 4,253 | 195 | 1,132 | 4,448 | 5,580 | 236 | 1974 | 1999 |
DOWNERS
GROVE, ILLINOIS
|
||||||||||||
Executive Towers | Executive Towers I | Office | - | 2,652 | 24,356 | 2,227 | 2,652 | 26,583 | 29,234 | 2,380 | 1983 | 1997 |
Executive Towers | Executive Towers II | Office | - | 3,386 | 31,791 | 3,694 | 3,386 | 35,485 | 38,871 | 3,022 | 1984 | 1997 |
Executive Towers | Executive Towers III | Office | - | 3,512 | 32,955 | 1,680 | 3,512 | 34,635 | 38,147 | 3,131 | 1987 | 1997 |
DUBLIN,
OHIO
|
||||||||||||
Metrocenter III | Metrocenter III | Office | - | 887 | 2,965 | 971 | 887 | 3,937 | 4,823 | 884 | 1983 | 1996 |
Scioto Corporate Center | Scioto Corporate Center | Office | - | 1,100 | 3,336 | 507 | 1,100 | 3,843 | 4,943 | 395 | 1987 | 1996 |
Tuttle Retail Center | Tuttle Retail Center | Retail | - | 4,314 | 7,384 | 2,430 | 4,314 | 9,814 | 14,128 | 1,351 | 1996 | 1995 |
Tuttle Crossing | LCI International | Office | - | 2,618 | 18,877 | 1,016 | 2,670 | 19,842 | 22,512 | 3,553 | 1990 | 1993 |
Tuttle Crossing | Sterling 1 | Office | - | 1,494 | 12,799 | 354 | 1,524 | 13,122 | 14,646 | 2,371 | 1990 | 1993 |
Tuttle Crossing | Indiana Insurance | Office | - | 717 | 2,442 | 394 | 717 | 2,837 | 3,554 | 603 | 1994 | 1994 |
Tuttle Crossing | Sterling 2 | Office | - | 605 | 5,836 | 48 | 605 | 5,883 | 6,488 | 829 | 1995 | 1995 |
Tuttle Crossing | John Alden Life Ins. | Office | - | 1,066 | 7,668 | - | 1,066 | 7,668 | 8,734 | 1,154 | 1995 | 1995 |
Tuttle Crossing | Cardinal Health | Office | - | 1,600 | 10,760 | 1,051 | 1,773 | 11,638 | 13,411 | 3,007 | 1995 | 1995 |
Tuttle Crossing | Sterling 3 | Office | - | 1,601 | 8,668 | 52 | 1,601 | 8,721 | 10,321 | 1,501 | 1996 | 1996 |
Tuttle Crossing | Compmanagement | Office | - | 867 | 4,366 | 522 | 867 | 4,888 | 5,755 | 520 | 1997 | 1997 |
Tuttle Crossing | Sterling 4 | Office | - | 483 | 9,284 | 876 | 483 | 10,160 | 10,643 | 950 | 1998 | 1998 |
Tuttle Crossing | Parkwood Place | Office | - | 1,690 | 11,477 | 531 | 1,690 | 12,008 | 13,698 | 1,515 | 1997 | 1997 |
Tuttle Crossing | Nationwide | Office | - | 4,815 | 19,030 | - | 4,815 | 19,029 | 23,844 | 3,355 | 1996 | 1996 |
Tuttle Crossing | Emerald II | Office | - | 495 | 3,493 | - | 495 | 3,492 | 3,988 | 467 | 1998 | 1998 |
Tuttle Crossing | Atrium II, Phase I | Office | - | 1,649 | 11,574 | - | 1,649 | 11,574 | 13,223 | 1,763 | 1998 | 1998 |
Tuttle Crossing | Atrium II, Phase II | Office | - | 1,597 | 10,212 | 597 | 1,597 | 10,810 | 12,406 | 1,212 | 1999 | 1999 |
Tuttle Crossing | Blazer I | Office | - | 904 | 5,688 | 424 | 904 | 6,113 | 7,016 | 546 | 1999 | 1999 |
Tuttle Crossing | Parkwood II | Office | - | 1,848 | 13,699 | - | 1,848 | 13,699 | 15,546 | 110 | 1999 | 1999 |
Tuttle Crossing | Blazer II | Office | - | 1,016 | 6,423 | - | 1,016 | 6,423 | 7,439 | 121 | 2000 | 2000 |
DULUTH,
GEORGIA
|
||||||||||||
Crestwood Pointe | 3805 Crestwood Parkway | Office | - | 877 | 15,158 | 18 | 877 | 15,177 | 16,053 | 575 | 1997 | 1999 |
Crestwood Pointe | 3885 Crestwood Parkway | Office | - | 878 | 14,153 | 911 | 878 | 15,063 | 15,941 | 707 | 1998 | 1999 |
Meadowbrook | 2475 Meadowbrook Parkway | Industrial | - | 529 | 3,477 | 93 | 529 | 3,570 | 4,099 | 162 | 1986 | 1999 |
Meadowbrook | 2505 Meadowbrook Parkway | Industrial | - | 606 | 2,395 | - | 606 | 2,395 | 3,001 | 89 | 1990 | 1999 |
Park Creek | 2825 Breckinridge Blvd | Industrial | - | 317 | 3,626 | 117 | 317 | 3,743 | 4,060 | 131 | 1986 | 1999 |
Park Creek | 2875 Breckinridge Blvd | Industrial | - | 476 | 4,797 | - | 476 | 4,797 | 5,273 | 177 | 1986 | 1999 |
Park Creek | 2885 Breckinridge Blvd | Industrial | - | 487 | 6,893 | - | 487 | 6,893 | 7,380 | 255 | 1997 | 1999 |
River Green | 3450 River Green Court | Industrial | - | 194 | 2,191 | - | 194 | 2,191 | 2,385 | 81 | 1989 | 1999 |
River Green | 4800 River Green Parkway | Industrial | - | 152 | 1,978 | - | 152 | 1,979 | 2,131 | 73 | 1989 | 1999 |
Business Park at Sugarloaf | 2775 Premier Parkway | Industrial | - | 560 | 4,697 | 24 | 560 | 4,721 | 5,281 | 176 | 1997 | 1999 |
Business Park at Sugarloaf | 3079 Premier Parkway | Industrial | - | 776 | 6,520 | 294 | 776 | 6,815 | 7,590 | 265 | 1998 | 1999 |
Business Park at Sugarloaf | 6700 Sugarloaf Parkway | Industrial | - | 1,042 | 8,685 | 25 | 1,042 | 8,710 | 9,752 | 327 | 1998 | 1999 |
Business Park at Sugarloaf | 2855 Premier Parkway | Industrial | - | 765 | 3,941 | - | 765 | 3,941 | 4,706 | 122 | 1999 | 1999 |
Business Park at Sugarloaf | 6655 Sugarloaf | Industrial | - | 1,651 | 6,377 | 493 | 1,651 | 6,870 | 8,521 | 712 | 1998 | 1999 |
Hampton Green | Hampton Green Office Bldg | Office | - | 1,388 | 9,513 | - | 1,388 | 9,513 | 10,900 | 33 | 2000 | 2000 |
Business Park At Sugarloaf | Sugarloaf Office IV (2750) | Industrial | - | 623 | 3,693 | - | 623 | 3,694 | 4,317 | 66 | 2000 | 2000 |
DUNCAN,
SOUTH CAROLINA
|
||||||||||||
Hillside | 170 Parkway West | Industrial | - | 223 | 2,734 | - | 223 | 2,734 | 2,957 | 122 | 1995 | 1999 |
Hillside | 285 Parkway East | Industrial | - | 619 | 4,523 | - | 619 | 4,523 | 5,142 | 199 | 1996 | 1999 |
Hillside | 190 Parkway West | Industrial | - | 276 | 2,511 | - | 276 | 2,512 | 2,788 | 110 | 1996 | 1999 |
Hillside | 265 Parkway East | Industrial | - | 329 | 3,374 | 788 | 329 | 4,162 | 4,491 | 170 | 1999 | 1999 |
EAGAN,
MINNESOTA
|
||||||||||||
Apollo Distribution Center | Apollo Industrial Ctr I | Industrial | - | 866 | 4,956 | 675 | 882 | 5,615 | 6,497 | 597 | 1997 | 1997 |
Apollo Distribution Center | Apollo Industrial Ctr II | Industrial | - | 474 | 2,950 | - | 474 | 2,950 | 3,424 | 134 | 2000 | 2000 |
Eagandale Crossing | Eagandale Crossing | Industrial | - | 974 | 4,780 | - | 987 | 4,767 | 5,754 | 724 | 1998 | 1998 |
Eagandale Tech Center | Eagandale Tech Center | Industrial | - | 987 | 5,681 | 689 | 987 | 6,370 | 7,357 | 564 | 1998 | 1998 |
Silverbell Commons | Silverbell Commons | Industrial | - | 1,807 | 7,103 | - | 1,807 | 7,103 | 8,910 | 535 | 1999 | 1999 |
Sibley Industrial Center | Sibley Industrial Center I | Industrial | - | 356 | 2,050 | 234 | 380 | 2,260 | 2,639 | 226 | 1973 | 1997 |
Sibley Industrial Center | Sibley Industrial Center II | Industrial | - | 225 | 1,343 | 93 | 225 | 1,436 | 1,661 | 159 | 1972 | 1997 |
Sibley Industrial Center | Sibley Industrial Center III | Industrial | - | 213 | 1,223 | 247 | 217 | 1,465 | 1,682 | 139 | 1968 | 1997 |
Trapp Road | Trapp Road Commerce I | Industrial | - | 671 | 3,879 | 336 | 691 | 4,195 | 4,886 | 334 | 1996 | 1998 |
Trapp Road | Trapp Road Commerce Bldg II | Industrial | - | 1,250 | 7,022 | 480 | 1,250 | 7,502 | 8,752 | 578 | 1998 | 1998 |
Yankee Place | Yankee Place | Industrial | - | 2,797 | 16,056 | 893 | 2,797 | 16,948 | 19,745 | 1,563 | 1986 | 1997 |
Apollo Distribution Center | Apollo Industrial Ctr II | Industrial | - | 1,432 | 6,365 | - | 1,432 | 6,365 | 7,796 | 88 | 2000 | 2000 |
EARTH
CITY, MISSOURI
|
||||||||||||
NGIC/Pointe 70 | 3322 NGIC | Office | 6,558 | 2,615 | 10,809 | 513 | 2,615 | 11,322 | 13,938 | 1,040 | 1987 | 1997 |
Earth City | Corporate Center, Earth City | Industrial | - | 783 | 126 | - | 783 | 126 | 909 | 0 | 2000 | 2000 |
EDEN
PRAIRIE, MINNESOTA
|
||||||||||||
Edenvale Executive Center | Edenvale Executive Center | Industrial | - | 1,184 | 6,699 | 181 | 1,185 | 6,880 | 8,064 | 231 | 1987 | 1999 |
Golden Triangle Tech Ctr. | Golden Triangle Tech Ctr. | Industrial | - | 1,446 | 8,258 | 249 | 1,458 | 8,495 | 9,953 | 544 | 1997 | 1998 |
Valley Gate North | Valley Gate North | Industrial | - | 548 | 3,133 | 500 | 556 | 3,625 | 4,181 | 164 | 1986 | 1999 |
EDINA,
MINNESOTA
|
||||||||||||
Cahill Business Ctr | Cahill Business Center | Industrial | - | 507 | 2,945 | 305 | 507 | 3,250 | 3,758 | 316 | 1980 | 1997 |
Edina Interchange | Edina Interchange I | Industrial | 1,881 | 630 | 3,646 | 287 | 630 | 3,933 | 4,563 | 331 | 1995 | 1997 |
Edina Interchange | Edina Interchange II | Industrial | 1,220 | 432 | 2,501 | 28 | 432 | 2,529 | 2,961 | 198 | 1980 | 1997 |
Edina Interchange | Edina Interchange III | Industrial | 1,386 | 487 | 2,821 | 54 | 487 | 2,876 | 3,363 | 227 | 1981 | 1997 |
Edina Interchange | Edina Interchange IV | Industrial | - | 228 | 1,322 | 332 | 228 | 1,655 | 1,883 | 202 | 1974 | 1997 |
Edina Interchange | Edina Interchange V | Industrial | - | 971 | 5,637 | 315 | 971 | 5,951 | 6,922 | 522 | 1974 | 1997 |
Bush Lake Road | Edina Interchange VII | Industrial | - | 180 | 1,060 | 199 | 180 | 1,258 | 1,438 | 122 | 1970 | 1998 |
Pakwa | Pakwa I | Industrial | - | 347 | 2,018 | 322 | 347 | 2,340 | 2,687 | 263 | 1979 | 1997 |
Pakwa | Pakwa II | Industrial | - | 215 | 1,241 | 102 | 215 | 1,343 | 1,558 | 116 | 1979 | 1997 |
Pakwa | Pakwa III | Industrial | - | 248 | 1,433 | 109 | 248 | 1,541 | 1,789 | 137 | 1979 | 1997 |
FAIRFIELD,
OHIO
|
||||||||||||
Faifield Business Center | Fairfield Bus. Ctr. D | Industrial | - | 135 | 1,732 | 81 | 135 | 1,814 | 1,948 | 243 | 1990 | 1995 |
Faifield Business Center | Fairfield Bus. Ctr. E | Industrial | - | 398 | 2,583 | 91 | 398 | 2,674 | 3,072 | 365 | 1990 | 1995 |
University Moving | University Moving | Industrial | - | 248 | 1,760 | - | 248 | 1,760 | 2,008 | 252 | 1991 | 1995 |
FENTON,
MISSOURI
|
||||||||||||
Fenton Interstate Buildings | Fenton Interstate Building C | Industrial | - | 519 | 1,967 | - | 519 | 1,967 | 2,486 | 83 | 1986 | 1999 |
Fenton Interstate Buildings | Fenton Interstate Building D | Industrial | - | 1,286 | 5,144 | - | 1,286 | 5,144 | 6,430 | 214 | 1987 | 1999 |
Southport | Southport I | Industrial | - | 192 | 834 | 43 | 192 | 877 | 1,069 | 73 | 1977 | 1997 |
Southport | Southport II | Industrial | - | 151 | 659 | 52 | 151 | 711 | 862 | 67 | 1978 | 1997 |
Southport | Southport Commerce Ctr. | Industrial | - | 233 | 1,016 | 151 | 233 | 1,167 | 1,400 | 122 | 1978 | 1997 |
Fenton Interstate Buildings | Fenton Industrial Bldg A | Industrial | - | 603 | 2,584 | - | 603 | 2,583 | 3,186 | 52 | 1987 | 2000 |
Fenton Interstate Buildings | Fenton Industrial Bldg B | Industrial | - | 702 | 2,268 | - | 702 | 2,268 | 2,971 | 36 | 1986 | 2000 |
FISHERS,
INDIANA
|
||||||||||||
Exit 5 | Exit 5 Bldg I (Deflecto) | Industrial | - | 833 | 2,680 | 82 | 833 | 2,762 | 3,595 | 138 | 1999 | 1999 |
Exit 5 | Exit 5 Bldg. II | Industrial | - | 760 | 3,306 | - | 760 | 3,306 | 4,066 | 111 | 1999 | 1999 |
FLORENCE,
KENTUCKY
|
||||||||||||
Sofa Express-Florence | Sofa Express - Florence | Retail | - | 735 | 771 | 339 | 735 | 1,109 | 1,844 | 95 | 1997 | 1997 |
FT.
LAUDERDALE, FLORIDA
|
||||||||||||
Sawgrass | Sawgrass - Building 1 | Industrial | - | 1,211 | 6,503 | - | 1,211 | 6,503 | 7,713 | 189 | 1999 | 1999 |
FT.
WAYNE, INDIANA
|
||||||||||||
Coldwater Crossing | Coldwater Crossing | Retail | 12,168 | 2,310 | 17,154 | 408 | 2,310 | 17,562 | 19,872 | 2,781 | 1990 | 1994 |
FRANKLIN,
TENNESSEE
|
||||||||||||
Aspen Grove Business Center | 277 Mallory Station (AG 1) | Industrial | - | 936 | 6,539 | - | 936 | 6,538 | 7,475 | 242 | 1996 | 1999 |
Aspen Grove Business Center | 320 Premier Court (AR II) | Industrial | - | 1,151 | 6,521 | 275 | 1,151 | 6,797 | 7,947 | 251 | 1996 | 1999 |
Aspen Grove Business Center | 305 Seaboard Lane (AGIII) | Industrial | - | 970 | 6,318 | 538 | 970 | 6,856 | 7,826 | 422 | 1998 | 1999 |
Aspen Grove Business Center | 416 Mary Lindsay Polk Dr (AGV) | Industrial | - | 943 | 5,288 | 638 | 943 | 5,926 | 6,868 | 237 | 1996 | 1999 |
Aspen Grove Business Center | 318-II Seaboard Lane | Industrial | - | 240 | 1,385 | 476 | 240 | 1,861 | 2,101 | 114 | 1999 | 1999 |
Aspen Grove Business Center | 341 Cool Springs Blvd | Office | - | 950 | 7,429 | 878 | 950 | 8,307 | 9,257 | 222 | 1999 | 1999 |
Aspen Grove Business Center | 318-1 Seaboard Land | Industrial | - | 301 | 1,684 | 741 | 301 | 2,425 | 2,726 | 122 | 1999 | 1999 |
Brentwood South Bus. Center | 119 Seaboard Lane (BS 4) | Industrial | - | 569 | 2,435 | 22 | 569 | 2,457 | 3,027 | 90 | 1990 | 1999 |
Brentwood South Bus. Center | 121 Seaboard Lane (BS 5) | Industrial | - | 445 | 1,932 | - | 445 | 1,932 | 2,377 | 77 | 1990 | 1999 |
Brentwood South Bus. Center | 123 Seaboard Lane (BS 6) | Industrial | - | 489 | 1,243 | 407 | 489 | 1,651 | 2,139 | 66 | 1990 | 1999 |
FRIDLEY,
MINNESOTA
|
||||||||||||
River Road | River Road Business Ctr. S. | Industrial | 3,685 | 1,083 | 6,346 | 404 | 1,112 | 6,721 | 7,833 | 378 | 1986 | 1999 |
University Center | University Center I&II | Industrial | - | 220 | 1,258 | 362 | 226 | 1,613 | 1,840 | 113 | 1983 | 1999 |
GLENWILLOW,
OHIO
|
||||||||||||
Emerald Valley | Emerald Valley Bldg 1 | Industrial | - | 555 | 6,350 | 41 | 555 | 6,391 | 6,946 | 185 | 1999 | 1999 |
GOLDEN
VALLEY, MINNESOTA
|
||||||||||||
Decatur Business Ctr | Decatur Business Center | Industrial | - | 431 | 2,504 | 229 | 431 | 2,733 | 3,164 | 206 | 1982 | 1997 |
Edina Realty | Edina Realty | Office | - | 330 | 1,862 | 180 | 349 | 2,022 | 2,371 | 129 | 1965 | 1998 |
Golden Hills | Golden Hills 1 | Industrial | - | 1,081 | 6,257 | 232 | 1,105 | 6,464 | 7,569 | 419 | 1996 | 1998 |
Golden Hills | Golden Hills 2 | Industrial | - | 1,741 | 4,282 | 303 | 1,742 | 4,584 | 6,326 | 398 | 1999 | 1999 |
Golden Hills | Golden Hills 3 | Industrial | - | 1,813 | 4,805 | 207 | 1,815 | 5,010 | 6,825 | 381 | 1999 | 1999 |
Minneapolis-West | North Star Title | Office | - | 506 | 2,911 | 318 | 539 | 3,195 | 3,735 | 209 | 1965 | 1998 |
Silver-Burdett Ginn | Sandburg Industrial Center | Industrial | - | 451 | 2,616 | 46 | 451 | 2,662 | 3,114 | 221 | 1973 | 1997 |
Minneapolis-West | Tyrol West | Office | 9,284 | 350 | 2,016 | 372 | 380 | 2,358 | 2,738 | 179 | 1968 | 1998 |
801 Zane Avenue North | 801 Zane Avenue North | Industrial | - | 365 | 2,174 | 129 | 365 | 2,303 | 2,668 | 199 | 1989 | 1997 |
GREENWOOD,
INDIANA
|
||||||||||||
South Park-Indiana | South Park Bldg 1 | Office | - | 287 | 2,556 | 86 | 292 | 2,637 | 2,929 | 455 | 1989 | 1993 |
South Park-Indiana | South Park Bldg 2 | Industrial | - | 334 | 3,395 | 737 | 341 | 4,125 | 4,466 | 896 | 1990 | 1993 |
South Park-Indiana | South Park Bldg 3 | Office | 991 | 208 | 2,360 | 277 | 212 | 2,634 | 2,846 | 511 | 1990 | 1993 |
South Park | Brylane Parking Lot | Grounds | - | 54 | - | 3 | 57 | - | 57 | 10 | N/A | 1994 |
GROVE
CITY, OHIO
|
||||||||||||
South Pointe | South Pointe Bldg D | Industrial | - | 276 | 3,154 | 622 | 276 | 3,776 | 4,052 | 566 | 1997 | 1997 |
South Pointe | South Pointe Bldg E | Industrial | - | 279 | 2,427 | 679 | 279 | 3,106 | 3,385 | 416 | 1997 | 1997 |
GROVEPORT,
OHIO
|
||||||||||||
Groveport Commerce Ctr | Groveport Comm Ctr #2 | Industrial | - | 1,049 | 7,559 | 559 | 1,049 | 8,117 | 9,167 | 217 | 1999 | 1999 |
Sun TV | 6600 Port Road | Industrial | - | 2,725 | 23,424 | - | 2,725 | 23,424 | 26,149 | 2,135 | 1998 | 1997 |
Groveport Commerce Ctr | Groveport Comm Ctr #3 | Industrial | - | 510 | 3,815 | - | 510 | 3,815 | 4,325 | 111 | 1999 | 1999 |
Groveport Commerce Ctr | Groveport Comm Ctr #4 | Industrial | - | 1,114 | 8,597 | - | 1,114 | 8,597 | 9,711 | 138 | 2000 | 2000 |
Groveport Commerce Ctr | Groveport Commerce Ctr. #345 | Industrial | - | 1,045 | 6,358 | - | 1,045 | 6,358 | 7,403 | 7 | 2000 | 2000 |
HEBRON,
KENTUCKY
|
||||||||||||
KY, Southpark | Ky. Southpark Bldg 4 (Redken) | Industrial | 2,585 | 779 | 3,360 | 83 | 779 | 3,443 | 4,222 | 552 | 1994 | 1994 |
KY, Southpark | CR Services | Industrial | 3,935 | 1,085 | 4,189 | 1,153 | 1,085 | 5,342 | 6,427 | 853 | 1994 | 1994 |
HOLLYWOOD,
FLORIDA
|
||||||||||||
Port 95 | 2600 SW 39th Street | Industrial | - | 5,758 | 13,815 | 51 | 5,758 | 13,866 | 19,624 | 509 | 1999 | 1999 |
Port 95 | Port 95 - Spec. Bldg. | Industrial | - | 833 | 2,876 | 524 | 833 | 3,399 | 4,232 | 138 | 1999 | 1999 |
HOPKINS,
MINNESOTA
|
||||||||||||
Cornerstone Business Center | Cornerstone Business Center | Industrial | 6,363 | 1,469 | 8,422 | 171 | 1,543 | 8,519 | 10,062 | 675 | 1996 | 1997 |
The Johnson Bldg | The Johnson Bldg | Industrial | - | 552 | 3,178 | 167 | 552 | 3,345 | 3,897 | 300 | 1974 | 1997 |
Westside Business Park | Westside Business Park | Industrial | - | 1,176 | 6,810 | 405 | 1,176 | 7,215 | 8,391 | 562 | 1987 | 1997 |
INDEPENDENCE,
OHIO
|
||||||||||||
Corporate Plaza | Corporate Plaza I | Office | 7,927 | 2,116 | 14,182 | 397 | 2,116 | 14,579 | 16,695 | 1,921 | 1989 | 1996 |
Corporate Plaza | Corporate Plaza II | Office | 7,094 | 1,841 | 12,322 | 778 | 1,841 | 13,101 | 14,941 | 1,739 | 1991 | 1996 |
Freedom Square | Freedom Square I | Office | - | 595 | 3,975 | 319 | 595 | 4,295 | 4,889 | 572 | 1980 | 1996 |
Freedom Square | Freedom Square II | Office | 6,685 | 1,746 | 11,702 | 633 | 1,746 | 12,334 | 14,080 | 1,638 | 1987 | 1996 |
Freedom Square | Freedom Square III | Office | - | 701 | 6,497 | 404 | 701 | 6,900 | 7,602 | 1,226 | 1997 | 1997 |
6111 Oak Tree | 6111 Oak Tree | Office | - | 703 | 4,637 | 419 | 703 | 5,056 | 5,759 | 502 | 1995 | 1997 |
Park Center | Park Center Bldg I | Office | - | 2,193 | 13,901 | - | 2,193 | 13,901 | 16,094 | 1,492 | 1998 | 1998 |
Park Center | Park Center Bldg 2 | Office | - | 2,190 | 13,619 | - | 2,190 | 13,619 | 15,810 | 875 | 1999 | 1999 |
Park Center | Park Center Bldg 3 | Office | - | 2,190 | 11,492 | - | 2,190 | 11,492 | 13,682 | 140 | 2000 | 2000 |
INDIANAPOLIS,
INDIANA
|
||||||||||||
Cub Center | Cub Center | Retail | - | 540 | 5,188 | 271 | 550 | 5,449 | 6,000 | 1,792 | 1986 | 1986 |
Michael's Plaza | Michaels Plaza | Retail | - | 749 | 3,727 | 368 | 764 | 4,080 | 4,844 | 675 | 1984 | 1993 |
Franklin Road Bus. Ctr | Franklin Road Bus. Ctr. | Industrial | - | 594 | 11,089 | - | 594 | 11,089 | 11,683 | 1,870 | 1998 | 1995 |
Nampac Building | Nampac Building | Industrial | - | 274 | 1,782 | 119 | 274 | 1,901 | 2,175 | 269 | 1974 | 1995 |
Park 100 | 6060 Guion Rd (Vanstar) | Industrial | - | 411 | 2,837 | 745 | 511 | 3,482 | 3,993 | 473 | 1977 | 1996 |
First Indiana Branch | First Indiana Branch | Retail | - | 46 | 274 | - | 47 | 273 | 320 | 47 | 1988 | 1993 |
Hillsdale | Hillsdale Bldg 4 | Industrial | - | 366 | 5,087 | 285 | 366 | 5,373 | 5,739 | 1,040 | 1987 | 1993 |
Hillsdale | Hillsdale Bldg 5 | Industrial | - | 251 | 3,235 | 539 | 251 | 3,774 | 4,025 | 718 | 1987 | 1993 |
Hillsdale | Hillsdale Bldg 6 | Industrial | - | 315 | 4,320 | 77 | 315 | 4,397 | 4,712 | 769 | 1987 | 1993 |
KATC - South | 8465 KATC 2-story | Office | - | 89 | 1,369 | 160 | 89 | 1,529 | 1,618 | 220 | 1983 | 1995 |
F.C. Tucker | F.C. Tucker | Office | - | - | 290 | - | - | 290 | 290 | 51 | 1978 | 1993 |
KATC - North | 8555 KATC 4-story | Office | - | - | 5,999 | 624 | - | 6,623 | 6,623 | 800 | 1985 | 1997 |
KATC - North | 3520 Commerce Crossing | Office | - | 950 | 2,089 | - | 950 | 2,089 | 3,039 | 256 | 1976 | 1993 |
4750 Kentucky Avenue | 4750 Kentucky Avenue | Industrial | - | 246 | 2,372 | 216 | 246 | 2,589 | 2,835 | 271 | 1974 | 1996 |
One North Capital | One North Capital | Office | - | 1,439 | 8,177 | 1,015 | 1,439 | 9,192 | 10,631 | 483 | 1980 | 1998 |
Park 100 | Park 100 Bldg 34 | Office | - | 131 | 1,547 | 156 | 133 | 1,700 | 1,833 | 599 | 1979 | 1986 |
Park 100 | Park 100 Bldg 95 | Industrial | 3,796 | 642 | 5,239 | 318 | 642 | 5,557 | 6,199 | 948 | 1993 | 1994 |
Park 100 | Park 100 Bldg 96 | Industrial | - | 1,414 | 13,748 | - | 1,436 | 13,726 | 15,162 | 2,371 | 1997 | 1995 |
Park 100 | Park 100 Bldg 98 | Industrial | - | 273 | 8,236 | - | 273 | 8,235 | 8,509 | 1,485 | 1995 | 1994 |
Park 100 | Park 100 Bldg 100 | Industrial | 1,515 | 103 | 2,447 | 642 | 103 | 3,088 | 3,191 | 710 | 1995 | 1995 |
Park 100 | Park 100 Bldg 107 | Industrial | 1,560 | 99 | 1,688 | 19 | 99 | 1,707 | 1,806 | 257 | 1984 | 1995 |
Park 100 | Park 100 Bldg 109 | Industrial | 1,012 | 240 | 1,890 | - | 246 | 1,885 | 2,131 | 626 | 1985 | 1986 |
Park 100 | Park 100 Bldg 116 | Office | - | 341 | 3,221 | - | 348 | 3,214 | 3,562 | 953 | 1988 | 1988 |
Park 100 | Park 100 Bldg 118 | Office | - | 226 | 2,412 | 236 | 230 | 2,644 | 2,874 | 486 | 1988 | 1993 |
Park 100 | Park 100 Bldg 119 | Office | - | 388 | 3,698 | 1,199 | 395 | 4,890 | 5,285 | 662 | 1989 | 1993 |
Park 100 | Park 100 Retail Bldg 121 | Retail | - | 592 | 1,074 | 73 | 604 | 1,135 | 1,739 | 193 | 1989 | 1993 |
Park 100 | Park 100 Bldg 122 | Industrial | - | 284 | 3,733 | 329 | 290 | 4,056 | 4,346 | 729 | 1990 | 1993 |
Park 100 | Park 100 Bldg 125 | Industrial | 4,100 | 674 | 6,022 | - | 674 | 6,022 | 6,696 | 1,444 | 1996 | 1994 |
Park 100 | Park 100 Bldg 126 | Industrial | - | 165 | 1,489 | 106 | 165 | 1,595 | 1,760 | 283 | 1984 | 1994 |
Park 100 | Park 100 Bldg 127 | Industrial | - | 96 | 1,920 | 292 | 96 | 2,211 | 2,308 | 388 | 1995 | 1995 |
Park 100 | Park 100 Bldg 130 | Industrial | - | 513 | 4,045 | - | 513 | 4,045 | 4,558 | 710 | 1996 | 1996 |
Park 100 | Park 100 Bldg 132 | Office | - | 446 | 1,217 | 452 | 446 | 1,669 | 2,115 | 301 | 1997 | 1997 |
Park 100 | Park 100 Bldg 134 | Industrial | - | 464 | 3,159 | 903 | 464 | 4,062 | 4,526 | 399 | 1998 | 1998 |
Woodland Corporate Center | Woodland Corp Centre I | Office | - | 290 | 4,550 | 586 | 320 | 5,106 | 5,426 | 606 | 1998 | 1998 |
Park 100 | Park 100 Bldg 136 | Industrial | - | 542 | 4,161 | 551 | 594 | 4,659 | 5,253 | 395 | 1998 | 1999 |
Woodland Corporate Center | Woodland Corporate Center II | Office | - | 271 | 3,582 | 676 | 297 | 4,231 | 4,528 | 219 | 1999 | 1999 |
Park Fletcher | Park Fletcher Bldg 14 | Industrial | - | 76 | 740 | - | 76 | 740 | 816 | 98 | 1978 | 1996 |
Parkwood Crossing | One Parkwood | Office | - | 1,018 | 10,153 | 312 | 1,028 | 10,454 | 11,482 | 1,426 | 1989 | 1995 |
Parkwood Crossing | Two Parkwood | Office | - | 861 | 7,696 | - | 871 | 7,686 | 8,557 | 1,609 | 1996 | 1996 |
Parkwood Crossing | Three Parkwood | Office | - | 1,377 | 10,200 | - | 1,387 | 10,190 | 11,576 | 1,740 | 1997 | 1997 |
Parkwood Crossing | Four Parkwood | Office | - | 1,489 | 11,627 | 779 | 1,499 | 12,396 | 13,895 | 1,555 | 1998 | 1998 |
Parkwood Crossing | Five Parkwood | Office | - | 1,485 | 13,548 | - | 1,528 | 13,505 | 15,033 | 794 | 1999 | 1999 |
Software Artistry | Software Artistry | Office | - | 856 | 7,661 | 96 | 856 | 7,757 | 8,613 | 815 | 1998 | 1998 |
Woodfield | 8440 Woodfield | Office | - | 719 | 9,431 | 863 | 733 | 10,280 | 11,013 | 1,957 | 1987 | 1993 |
Woodfield | 8425 Woodfield | Office | - | 3,767 | 21,142 | 1,946 | 3,843 | 23,013 | 26,856 | 4,306 | 1989 | 1993 |
4316 West Minnesota | 4316 West Minnesota | Industrial | - | 287 | 2,272 | 291 | 287 | 2,563 | 2,850 | 268 | 1970 | 1996 |
Park 100 | Norco Windows Parking Lot | Grounds | - | 37 | - | - | 37 | - | 37 | 7 | N/A | 2999 |
Park 100 | Ups Parking | Grounds | - | 270 | - | - | 270 | - | 270 | 20 | N/A | 1997 |
Park 100 | Norgate Ground Lease | Grounds | - | 51 | - | - | 51 | - | 51 | - | N/A | 1995 |
Park 100 | Zollman Ground Lease | Grounds | - | 115 | - | - | 115 | - | 115 | - | N/A | 1994 |
Hamilton Crossing | Hamilton Crossing Bldg 3 | Office | - | 890 | 8,869 | - | 890 | 8,869 | 9,759 | 55 | 2000 | 2000 |
Parkwood Crossing | Six Parkwood | Office | - | 1,960 | 14,543 | - | 1,960 | 14,543 | 16,503 | 264 | 2000 | 2000 |
Woodland Corporate Center | Woodland Corp Center III | Office | - | 1,227 | 4,240 | - | 1,227 | 4,240 | 5,466 | 120 | 1999 | 1999 |
Woodland Corporate Center | Woodland Corp Ctr IV | Office | - | 715 | 6,297 | - | 715 | 6,297 | 7,013 | - | 2000 | 2000 |
JACKSONVILLE,
FLORIDA
|
||||||||||||
Jacksonville International Tradeport | 13350 International Park | Industrial | - | 371 | 2,052 | - | 371 | 2,052 | 2,423 | 96 | 1998 | 1999 |
Jacksonville International Tradeport | 13340 International Parkway | Industrial | - | 289 | 3,250 | - | 289 | 3,250 | 3,539 | 138 | 1997 | 1999 |
Jacksonville International Tradeport | 1420 Vantage Way | Industrial | - | 698 | 4,078 | - | 698 | 4,078 | 4,776 | 173 | 1998 | 1999 |
Jacksonville International Tradeport | 1460 Vantage Way | Industrial | - | 573 | 5,361 | - | 573 | 5,361 | 5,934 | 219 | 1998 | 1999 |
Jacksonville International Tradeport | 1350 Tradeport Drive | Industrial | - | 538 | 3,597 | - | 538 | 3,597 | 4,135 | 151 | 1989 | 1999 |
Jacksonville International Tradeport | 1371 Tradeport Drive | Industrial | - | 544 | 2,455 | 395 | 544 | 2,850 | 3,394 | 119 | 1995 | 1999 |
Jacksonville International Tradeport | 13291 Vantage Way | Industrial | - | 499 | 4,598 | - | 499 | 4,598 | 5,097 | 187 | 1995 | 1999 |
South Pointe | 7011 A.C. Skinner Pkwy | Office | - | 1,007 | 4,171 | - | 1,007 | 4,171 | 5,178 | 235 | 1999 | 1999 |
Jacksonville Intl. Tradeport | Tradeport Dist Ctr VII | Industrial | - | 418 | 3,199 | - | 418 | 3,199 | 3,617 | 19 | 2000 | 2000 |
KENNESAW,
GEORGIA
|
||||||||||||
Town Point | 3330 West Town Point Drive | Industrial | - | 551 | 2,273 | 208 | 551 | 2,481 | 3,032 | 113 | 1994 | 1999 |
Town Point | 3350 West Town Point Drive | Industrial | - | 434 | 2,324 | 18 | 434 | 2,342 | 2,776 | 86 | 1995 | 1999 |
Town Point | 3240 Town Point Drive | Industrial | - | 1,092 | 6,433 | 83 | 1,092 | 6,515 | 7,607 | 246 | 1997 | 1999 |
Town Point | 3391 Town Point Pkwy | Office | - | 797 | 8,379 | - | 797 | 8,380 | 9,177 | 391 | 1999 | 1999 |
Other Northwest I75 Properties | 1950 Vaughn Street | Industrial | 3,220 | - | 4,593 | - | - | 4,593 | 4,593 | 97 | 1999 | 1999 |
Town Point | 3200 Town Point Drive(SC I) | Industrial | - | 734 | 4,885 | - | 734 | 4,885 | 5,620 | 154 | 1999 | 1999 |
LAKE
FOREST, ILLINOIS
|
||||||||||||
Ballard Building | Ballard Drive Building | Industrial | - | 186 | 1,738 | 84 | 186 | 1,823 | 2,009 | 135 | 1985 | 1998 |
Kraft Building | Laurel Drive Building | Industrial | - | 98 | 913 | 59 | 98 | 971 | 1,069 | 72 | 1981 | 1998 |
13825 W. Laurel Drive | 13825 W. Laurel Drive | Industrial | - | 750 | 1,859 | 232 | 750 | 2,091 | 2,841 | 103 | 1985 | 1999 |
One Conway Park | One Conway Park | Office | - | 1,901 | 18,311 | 740 | 1,901 | 19,050 | 20,951 | 1,350 | 1989 | 1998 |
LAKE
MARY, FLORIDA
|
||||||||||||
Northpoint | 1025 Greenwood Blvd. | Office | - | 1,087 | 11,550 | - | 1,087 | 11,550 | 12,637 | 633 | 1998 | 1999 |
Technology Park | 100 Technology Parkway | Industrial | - | 641 | 3,519 | 45 | 641 | 3,564 | 4,205 | 147 | 1986 | 1999 |
Technology Park | 525 Technology Parkway | Industrial | - | 835 | 4,306 | 213 | 835 | 4,518 | 5,353 | 171 | 1998 | 1999 |
Technology Park | 255 Technology Parkway | Industrial | - | 477 | 3,859 | 13 | 477 | 3,872 | 4,349 | 137 | 1998 | 1999 |
Technology Park | 200 Technology Parkway | Industrial | - | 669 | 2,885 | - | 669 | 2,884 | 3,554 | 88 | 1999 | 1999 |
Technology Park | 250 Technology Parkway | Industrial | - | 547 | 2,861 | 236 | 547 | 3,097 | 3,644 | 97 | 1999 | 1999 |
Northpoint | Northpoint Center II | Office | - | 1,202 | 8,359 | - | 1,202 | 8,359 | 9,561 | 15 | 1999 | 1999 |
LEBANON,
INDIANA
|
||||||||||||
Lebanon Bus. Park | Pamida | Industrial | - | 305 | 9,612 | - | 305 | 9,612 | 9,917 | 671 | 1997 | 1997 |
Lebanon Bus. Park | Prentice Hall | Industrial | - | 740 | 12,000 | 440 | 740 | 12,440 | 13,180 | 1,504 | 1998 | 1998 |
Lebanon Bus. Park | Lebanon Building 9 | Industrial | - | 554 | 6,837 | 401 | 554 | 7,238 | 7,792 | 280 | 1999 | 1999 |
LOVELAND,
OHIO
|
||||||||||||
Sun TV & Appliances | Montgomery Crossing Phase I | Retail | - | 260 | 943 | 79 | 260 | 1,021 | 1,281 | 152 | 1993 | 1994 |
Sports Unlimited | Montgomery Crossing Phase II | Retail | 3,080 | 778 | 3,986 | 266 | 778 | 4,252 | 5,031 | 636 | 1994 | 1994 |
MARIETTA,
GEORGIA
|
||||||||||||
Franklin Forest | 805 Franklin Court | Industrial | - | 313 | 1,932 | 54 | 313 | 1,985 | 2,299 | 79 | 1983 | 1999 |
Franklin Forest | 810 Franklin Court | Industrial | - | 255 | 1,653 | 41 | 255 | 1,695 | 1,949 | 70 | 1983 | 1999 |
Franklin Forest | 811 Livingston Court | Industrial | - | 193 | 1,424 | - | 193 | 1,423 | 1,616 | 53 | 1983 | 1999 |
Franklin Forest | 825 Franklin Court | Industrial | - | 358 | 558 | 941 | 358 | 1,500 | 1,857 | 73 | 1983 | 1999 |
Franklin Forest | 830 Franklin Court | Industrial | - | 133 | 757 | 63 | 133 | 820 | 953 | 38 | 1983 | 1999 |
Franklin Forest | 835 Franklin Court | Industrial | - | 393 | 633 | 997 | 393 | 1,630 | 2,023 | 78 | 1983 | 1999 |
Franklin Forest | 840 Franklin Court | Industrial | - | 242 | 890 | - | 242 | 891 | 1,132 | 33 | 1983 | 1999 |
Franklin Forest | 821 Livingston Court | Industrial | - | 145 | 973 | 18 | 145 | 990 | 1,135 | 40 | 1983 | 1999 |
Franklin Forest | 841 Livingston Court | Industrial | - | 275 | 2,729 | - | 275 | 2,729 | 3,004 | 101 | 1983 | 1999 |
Northwest Business Center | 1335 Capital Circle | Industrial | - | 416 | 2,112 | 80 | 416 | 2,192 | 2,608 | 80 | 1985 | 1999 |
Northwest Business Center | 1337-41-51 Capital Circle | Industrial | - | 558 | 5,364 | 118 | 558 | 5,483 | 6,041 | 229 | 1985 | 1999 |
Northwest Business Center | 2260 Northwest Parkway | Industrial | - | 320 | 1,826 | 270 | 320 | 2,096 | 2,416 | 77 | 1982 | 1999 |
Northwest Business Center | 2252 Northwest Parkway | Industrial | - | 92 | 982 | - | 92 | 981 | 1,073 | 36 | 1982 | 1999 |
Northwest Business Center | 2242 Northwest Parkway | Industrial | - | 175 | 1,444 | 63 | 175 | 1,507 | 1,681 | 62 | 1982 | 1999 |
Northwest Business Center | 2256 Northwest Parkway | Industrial | - | 85 | 916 | 53 | 85 | 969 | 1,054 | 35 | 1982 | 1999 |
Northwest Business Center | 2244 Northwest Parkway | Industrial | - | 47 | 492 | - | 47 | 492 | 539 | 18 | 1982 | 1999 |
Northwest Business Center | 2150 Northwest Parkway | Industrial | - | 294 | 3,087 | 77 | 294 | 3,164 | 3,458 | 120 | 1982 | 1999 |
Northwest Business Center | 2152 Northwest Parkway | Industrial | - | 161 | 1,637 | 51 | 161 | 1,687 | 1,849 | 65 | 1982 | 1999 |
Northwest Business Center | 2130 Northwest Parkway | Industrial | - | 353 | 2,885 | 138 | 353 | 3,023 | 3,376 | 122 | 1982 | 1999 |
Northwest Business Center | 2270 Northwest Parkway | Industrial | 1,882 | 483 | 3,887 | 36 | 483 | 3,923 | 4,406 | 150 | 1988 | 1999 |
Northwest Business Center | 2275 Northwest Parkway | Industrial | 1,282 | 327 | 2,641 | 32 | 327 | 2,673 | 3,000 | 107 | 1988 | 1999 |
MARYLAND
HEIGHTS, MISSOURI
|
||||||||||||
Riverport Tower | Riverport Tower | Office | - | 3,549 | 30,083 | 788 | 3,549 | 30,872 | 34,420 | 2,645 | 1991 | 1997 |
Riverport Distribution | Riverport Distribution | Industrial | - | 242 | 2,223 | 86 | 242 | 2,309 | 2,551 | 188 | 1990 | 1997 |
Riverport Distribution | Scripts Building | Industrial | - | 1,197 | 8,716 | 159 | 1,197 | 8,875 | 10,072 | 765 | 1992 | 1997 |
Riverport Distribution | Riverport Distribution B | Industrial | - | 216 | 1,984 | 84 | 216 | 2,069 | 2,285 | 165 | 1989 | 1997 |
Riverport Distribution | Riverport 1 | Industrial | - | 900 | 4,362 | - | 900 | 4,362 | 5,261 | 547 | 1999 | 1999 |
West Port | Westport Center I | Industrial | - | 1,707 | 6,196 | 517 | 1,707 | 6,713 | 8,421 | 1,037 | 1998 | 1998 |
West Port | Westport Center II | Industrial | - | 915 | 2,854 | 240 | 915 | 3,095 | 4,010 | 473 | 1998 | 1998 |
West Port | Westport Center III | Industrial | - | 1,207 | 2,963 | 360 | 1,207 | 3,323 | 4,530 | 267 | 1999 | 1999 |
Riverport | Riverport 2 | Industrial | - | 1,238 | 6,731 | - | 1,238 | 6,731 | 7,969 | 205 | 2000 | 2000 |
MASON,
OHIO
|
||||||||||||
Deerfield Crossing | Deerfield Crossing Bldg 1 | Office | - | 1,493 | 14,260 | - | 1,493 | 14,260 | 15,753 | 818 | 1999 | 1999 |
Governor's Pointe | Governor's Pointe 4770 | Office | 4,086 | 586 | 8,019 | - | 596 | 8,009 | 8,605 | 2,466 | 1986 | 1988 |
Governor's Pointe | Governor's Pointe 4700 | Industrial | 3,060 | 584 | 5,810 | 50 | 595 | 5,850 | 6,444 | 1,838 | 1987 | 1988 |
Governor's Pointe | Governor's Pointe 4900 | Industrial | 2,356 | 654 | 4,308 | - | 673 | 4,289 | 4,962 | 1,186 | 1987 | 1989 |
Governor's Pointe | Governor's Pointe 4705 | Office | - | 719 | 7,793 | 1,558 | 792 | 9,278 | 10,070 | 2,106 | 1988 | 1993 |
Governor's Pointe | Governor's Pointe 4800 | Industrial | - | 978 | 5,192 | 265 | 998 | 5,437 | 6,435 | 1,043 | 1989 | 1993 |
Governor's Pointe | Governor's Pointe 4605 | Office | 11,708 | 630 | 17,566 | 925 | 715 | 18,407 | 19,122 | 3,455 | 1990 | 1993 |
Bigg's Supercenter | Bigg's Supercenter | Retail | - | 2,107 | 9,942 | - | 4,227 | 7,822 | 12,050 | 1,258 | 1996 | 1996 |
Lowes | Lowes | Retail | - | 3,750 | 6,477 | - | 3,750 | 6,478 | 10,228 | 859 | 1999 | 1997 |
Anthem Prescription Mgmt | Governor's Pointe 8990 | Office | - | 594 | 6,096 | 414 | 594 | 6,510 | 7,104 | 1,036 | 1997 | 1997 |
Governor's Pointe | Governor's Pointe 4660 | Office | - | 385 | 4,782 | 350 | 529 | 4,987 | 5,516 | 825 | 1997 | 1997 |
Governor's Pointe | Governor's Pointe 4680 | Office | - | 1,115 | 8,550 | 802 | 1,115 | 9,352 | 10,467 | 1,233 | 1998 | 1998 |
MAYFIELD
HEIGHTS, OHIO
|
||||||||||||
Landerbrook Corporate Ctr. | Landerbrook Corp. Center I | Office | - | 1,807 | 10,775 | 449 | 1,808 | 11,223 | 13,031 | 1,682 | 1997 | 1997 |
Landerbrook Corporate Ctr. | Landerbrook Corp. Center II | Office | - | 1,382 | 10,063 | 992 | 1,382 | 11,055 | 12,437 | 847 | 1998 | 1998 |
MCDONOUGH,
GEORGIA
|
||||||||||||
Liberty Distribution Center | 120 Declaration Drive | Industrial | - | 615 | 8,582 | - | 615 | 8,582 | 9,197 | 317 | 1997 | 1999 |
MENDOTA
HEIGHTS, MINNESOTA
|
||||||||||||
Enterprise Industrial Center | Enterprise Industrial Center | Industrial | 2,428 | 864 | 5,016 | 631 | 864 | 5,647 | 6,511 | 545 | 1979 | 1997 |
MILFORD,
OHIO
|
||||||||||||
Park 50 | Park 50 Bldg 17 | Office | - | 500 | 5,473 | - | 510 | 5,463 | 5,974 | 2,053 | 1985 | 1986 |
Park 50 | Park 50 Bldg 20 | Industrial | 3,644 | 461 | 7,214 | - | 469 | 7,205 | 7,674 | 2,733 | 1987 | 1988 |
Park 50 | Park 50 Bldg 25 | Industrial | - | 1,161 | 4,128 | 867 | 1,184 | 4,972 | 6,156 | 1,157 | 1989 | 1993 |
MINNEAPOLIS,
MINNESOTA
|
||||||||||||
Broadway Business Center | Broadway Business Ctr III | Industrial | - | 140 | 813 | 51 | 144 | 859 | 1,003 | 58 | 1983 | 1998 |
Broadway Business Center | Broadway Business Ctr IV | Industrial | - | 194 | 1,142 | 189 | 200 | 1,325 | 1,525 | 101 | 1983 | 1998 |
Broadway Business Center | Broadway Business Ctr V | Industrial | - | 160 | 933 | 39 | 166 | 966 | 1,131 | 60 | 1983 | 1998 |
Broadway Business Center | Broadway Business Ctr VI | Industrial | - | 433 | 2,504 | 239 | 447 | 2,729 | 3,177 | 201 | 1983 | 1998 |
Broadway Business Center | Broadway Business Ctr VII | Industrial | - | 233 | 1,355 | 163 | 241 | 1,511 | 1,751 | 173 | 1983 | 1998 |
Encore Park | Encore Park | Industrial | - | 947 | 5,649 | 275 | 974 | 5,898 | 6,872 | 524 | 1977 | 1997 |
10801 Red Circle Dr. | 10801 Red Circle Dr. | Office | - | 527 | 3,448 | 741 | 527 | 4,188 | 4,716 | 568 | 1977 | 1997 |
Chilies Ground Lease | Chilies Ground Lease | Grounds | - | 921 | - | 69 | 990 | - | 990 | 1 | N/A | 1998 |
Knox Land Lease | Knox Land Lease | Grounds | - | 1,067 | - | - | 1,067 | - | 1,067 | - | N/A | 1997 |
Olive Garden Ground Lease | Olive Garden Ground Lease | Grounds | - | 921 | - | - | 921 | - | 921 | - | N/A | 1998 |
Unversity Land Lease | Unversity Land Lease | Grounds | - | 296 | - | - | 296 | - | 296 | - | N/A | 1997 |
MONROE,
OHIO
|
||||||||||||
Monroe Business Center | Monroe Business Center Bldg. 1 | Industrial | - | 660 | 5,403 | 119 | 660 | 5,523 | 6,183 | 289 | 1992 | 1999 |
MORRISVILLE,
NORTH CAROLINA
|
||||||||||||
Enterprise Center | 507 Airport Blvd. | Industrial | 5,712 | 1,327 | 8,442 | 335 | 1,327 | 8,777 | 10,104 | 327 | 1993 | 1999 |
Enterprise Center | 5151 McCrimmon Parkway | Industrial | - | 1,318 | 8,219 | 373 | 1,318 | 8,592 | 9,910 | 315 | 1995 | 1999 |
Enterprise Center | 2600 Perimeter Park Drive | Industrial | - | 975 | 5,392 | 127 | 975 | 5,519 | 6,494 | 206 | 1997 | 1999 |
Enterprise Center | 5150 McCrimmon Parkway | Industrial | - | 1,739 | 12,249 | 103 | 1,739 | 12,352 | 14,091 | 441 | 1998 | 1999 |
Enterprise Center | 2400 Perimeter Park Drive | Office | - | 760 | 6,305 | 191 | 760 | 6,495 | 7,255 | 264 | 1999 | 1999 |
Metrocenter | 3000 Perimeter Park Drive | Industrial | 2,041 | 482 | 3,156 | 224 | 482 | 3,381 | 3,863 | 127 | 1989 | 1999 |
Metrocenter | 2900 Perimeter Park Drive | Industrial | 1,361 | 235 | 2,340 | - | 235 | 2,341 | 2,575 | 97 | 1990 | 1999 |
Metrocenter | 2800 Perimeter Park Drive | Industrial | 3,061 | 777 | 4,927 | 88 | 777 | 5,015 | 5,791 | 186 | 1992 | 1999 |
Perimeter Park | 100 Perimeter Park Drive | Industrial | - | 477 | 3,239 | 44 | 477 | 3,283 | 3,760 | 120 | 1987 | 1999 |
Perimeter Park | 200 Perimeter Park Drive | Industrial | - | 567 | 3,149 | 30 | 567 | 3,179 | 3,746 | 118 | 1987 | 1999 |
Perimeter Park | 300 Perimeter Park Drive | Industrial | - | 567 | 3,148 | 40 | 567 | 3,188 | 3,755 | 116 | 1986 | 1999 |
Perimeter Park | 400 Perimeter Park Drive | Industrial | 4,067 | 486 | 4,455 | 40 | 486 | 4,496 | 4,982 | 163 | 1983 | 1999 |
Perimeter Park | 500 Perimeter Park Drive | Industrial | - | 522 | 4,421 | 65 | 522 | 4,487 | 5,009 | 168 | 1985 | 1999 |
Perimeter Park | 800 Perimeter Park Drive | Industrial | 1,281 | 405 | 3,309 | 52 | 405 | 3,361 | 3,766 | 126 | 1984 | 1999 |
Perimeter Park | 900 Perimeter Park Drive | Industrial | - | 629 | 1,908 | 651 | 629 | 2,559 | 3,188 | 98 | 1982 | 1999 |
Perimeter Park | 1000 Perimeter Park Drive | Industrial | - | 405 | 3,259 | 115 | 405 | 3,374 | 3,779 | 121 | 1982 | 1999 |
Perimeter Park West | 1100 Perimeter Park Drive | Industrial | - | 777 | 6,037 | 86 | 777 | 6,123 | 6,900 | 248 | 1990 | 1999 |
Perimeter Park West | 1400 Perimeter Park Drive | Office | - | 666 | 4,603 | - | 666 | 4,603 | 5,269 | 165 | 1991 | 1999 |
Perimeter Park West | 1500 Perimeter Park Drive | Office | - | 1,148 | 10,397 | 226 | 1,148 | 10,623 | 11,771 | 447 | 1996 | 1999 |
Perimeter Park West | 1600 Perimeter Park Drive | Office | 6,598 | 1,463 | 10,134 | 75 | 1,463 | 10,209 | 11,672 | 373 | 1994 | 1999 |
Perimeter Park West | 1800 Perimeter Park Drive | Office | 3,764 | 907 | 5,751 | - | 907 | 5,751 | 6,658 | 207 | 1994 | 1999 |
Perimeter Park West | 2000 Perimeter Park Drive | Office | - | 788 | 8,210 | - | 788 | 8,210 | 8,997 | 304 | 1997 | 1999 |
Perimeter Park West | 1700 Perimeter Center West | Office | - | 1,230 | 10,780 | - | 1,230 | 10,780 | 12,010 | 413 | 1997 | 1999 |
Perimeter Park West | 3900 N. Paramount Parkway | Office | - | 540 | 13,296 | 49 | 540 | 13,345 | 13,885 | 499 | 1998 | 1999 |
Perimeter Park West | 3900 S. Paramount Parkway | Office | - | 1,575 | 12,398 | 467 | 1,575 | 12,865 | 14,440 | 529 | 2000 | 1999 |
Perimeter Park West | 5200 Paramount Parkway | Office | - | 1,748 | 17,667 | 93 | 1,748 | 17,761 | 19,508 | 718 | 1999 | 1999 |
Research Triangle Industrial Center | 409 Airport Blvd Bldg A | Industrial | 953 | 296 | 1,318 | - | 296 | 1,317 | 1,613 | 55 | 1983 | 1999 |
Research Triangle Industrial Center | 409 Airport Blvd Bldg B | Industrial | 558 | 175 | 769 | - | 175 | 769 | 944 | 31 | 1986 | 1999 |
Research Triangle Industrial Center | 409 Airport Blvd Bldg C | Industrial | 1,899 | 185 | 2,849 | 180 | 185 | 3,029 | 3,214 | 124 | 1982 | 1999 |
Woodlake Center | 100 Innovation Avenue | Industrial | 2,030 | 633 | 4,003 | 261 | 633 | 4,263 | 4,896 | 170 | 1994 | 1999 |
Woodlake Center | 101 Innovation Avenue | Industrial | - | 615 | 4,095 | 98 | 615 | 4,193 | 4,808 | 154 | 1997 | 1999 |
Woodlake Center | 200 Innovation Drive | Industrial | - | 357 | 4,545 | - | 357 | 4,546 | 4,902 | 277 | 1999 | 1999 |
Woodlake Center | 501 Innovation Avenue | Industrial | - | 640 | 7,029 | 7 | 640 | 7,036 | 7,676 | 410 | 1999 | 1999 |
Perimeter Park West | 3500 Paramount Pkwy | Office | - | 722 | 12,886 | - | 722 | 12,886 | 13,609 | 307 | 1999 | 1999 |
NASHVILLE,
TENNESSEE
|
||||||||||||
Airpark Business Center | 1420 Donelson Pike | Industrial | 590 | 1,331 | 5,401 | 193 | 1,357 | 5,568 | 6,925 | 205 | 1985 | 1999 |
Airpark Business Center | 1410 Donelson Pike | Industrial | 718 | 1,411 | 6,898 | 120 | 1,411 | 7,018 | 8,429 | 274 | 1986 | 1999 |
Airpark Business Center | 1400 Donelson Pike | Industrial | 552 | 1,276 | 5,042 | 164 | 1,276 | 5,206 | 6,482 | 209 | 1996 | 1999 |
Airpark Business Center | 400 Airpark Center | Industrial | 2,027 | 419 | 2,182 | - | 419 | 2,182 | 2,601 | 80 | 1989 | 1999 |
Airpark Business Center | 500 Airpark Center Drive | Industrial | 3,276 | 923 | 2,456 | 824 | 923 | 3,281 | 4,203 | 148 | 1988 | 1999 |
Airpark Business Center | 600 Airport Center Drive | Industrial | 3,164 | 729 | 3,331 | - | 729 | 3,331 | 4,060 | 123 | 1990 | 1999 |
Airpark Business Center | 700 Airpark Center Drive | Industrial | 3,045 | 801 | 2,840 | 266 | 801 | 3,106 | 3,907 | 117 | 1992 | 1999 |
Airpark Business Center | 800 Airpark Center Drive | Industrial | 2,620 | 924 | 4,010 | 206 | 924 | 4,216 | 5,139 | 173 | 1995 | 1999 |
Airpark Business Center | 900 Airpark Center Drive | Industrial | 2,147 | 798 | 3,414 | - | 798 | 3,415 | 4,212 | 126 | 1995 | 1999 |
Airpark Business Center | 1000 Airpark Center Drive | Industrial | - | 1,300 | 9,624 | - | 1,300 | 9,624 | 10,925 | 358 | 1997 | 1999 |
Airpark Business Center | 5270 Harding Place | Industrial | 1,236 | 535 | 2,494 | - | 535 | 2,494 | 3,029 | 92 | 1996 | 1999 |
Airpark Business Center | 1415 Donelson Pike | Industrial | 4,125 | 1,308 | 8,799 | - | 1,308 | 8,799 | 10,107 | 314 | 1996 | 1999 |
Airpark Business Center | 1413 Donelson Pike | Industrial | 1,343 | 549 | 2,743 | - | 549 | 2,743 | 3,291 | 101 | 1996 | 1999 |
Airpark Business Center | 5233 Harding Place | Industrial | - | 628 | 3,108 | - | 628 | 3,108 | 3,736 | 159 | 1998 | 1999 |
Owned By CBL | 431 Great Circle Road | Industrial | - | 1,461 | 6,938 | - | 1,461 | 6,938 | 8,399 | 410 | 1999 | 1999 |
Four-Four Business Center | 700 Melrose Avenue | Industrial | 3,774 | 938 | 6,464 | - | 938 | 6,464 | 7,403 | 237 | 1997 | 1999 |
Four-Four Business Center | 684 Melrose Avenue | Industrial | - | 1,812 | 7,583 | 199 | 1,812 | 7,783 | 9,595 | 328 | 1998 | 1999 |
Four-Four Business Center | 458 Melrose Avenue | Industrial | - | 1,522 | 5,750 | - | 1,522 | 5,750 | 7,271 | 212 | 1997 | 1999 |
Four-Four Business Center | 784 Melrose Avenue | Industrial | - | 471 | 3,321 | 257 | 471 | 3,578 | 4,049 | 149 | 1999 | 1999 |
Greenbriar Business Park | Greenbriar Business Park | Industrial | - | 1,445 | 5,085 | 512 | 1,445 | 5,597 | 7,042 | 937 | 1986 | 1994 |
Haywood Oaks | Haywood Oaks Bldg 2 | Industrial | - | 395 | 1,928 | 97 | 395 | 2,026 | 2,420 | 385 | 1988 | 1993 |
Haywood Oaks | Haywood Oaks Bldg 3 | Industrial | - | 346 | 1,741 | 92 | 346 | 1,833 | 2,180 | 314 | 1988 | 1993 |
Haywood Oaks | Haywood Oaks Bldg 4 | Industrial | - | 435 | 2,083 | 266 | 435 | 2,350 | 2,785 | 465 | 1988 | 1993 |
Haywood Oaks | Haywood Oaks Bldg 5 | Industrial | - | 629 | 3,041 | 220 | 629 | 3,261 | 3,890 | 658 | 1988 | 1993 |
Haywood Oaks | Haywood Oaks Bldg 6 | Industrial | - | 924 | 6,323 | 441 | 946 | 6,742 | 7,688 | 1,190 | 1989 | 1993 |
Haywood Oaks | Haywood Oaks Bldg 7 | Industrial | - | 456 | 1,844 | 190 | 456 | 2,033 | 2,490 | 306 | 1995 | 1995 |
Haywood Oaks | Haywood Oaks Bldg 8 | Industrial | - | 617 | 3,481 | 727 | 751 | 4,075 | 4,825 | 925 | 1997 | 1997 |
Lakeview Place | Three Lakeview | Office | - | 2,126 | 13,853 | - | 2,126 | 13,853 | 15,979 | 458 | 1999 | 1999 |
Lakeview Place | One Lakeview Place | Office | - | 2,046 | 11,807 | 493 | 2,063 | 12,283 | 14,346 | 704 | 1986 | 1998 |
Lakeview Place | Two Lakeview Place | Office | - | 2,046 | 11,838 | 293 | 2,046 | 12,132 | 14,177 | 661 | 1988 | 1998 |
Metropolitan Airport Center | Metro Airport Center Bldg 1 | Industrial | - | 1,180 | 4,776 | - | 1,190 | 4,766 | 5,956 | 351 | 1999 | 1999 |
Metrocenter | 545 Mainstream Drive | Office | 2,799 | 847 | 6,310 | 89 | 847 | 6,399 | 7,246 | 254 | 1983 | 1999 |
Metrocenter | 566 Mainstream Drive | Industrial | - | 454 | 3,927 | 192 | 454 | 4,120 | 4,574 | 164 | 1982 | 1999 |
Metrocenter | 621 Mainstream Drive | Industrial | - | 428 | 2,860 | - | 428 | 2,861 | 3,288 | 106 | 1984 | 1999 |
Metro Center | Metrocenter Flex Bldg I | Industrial | - | 497 | 2,551 | - | 497 | 2,551 | 3,048 | 24 | 2000 | 2000 |
Nashville Business Center | 3300 Briley Park Blvd. | Industrial | - | 936 | 7,138 | - | 936 | 7,137 | 8,073 | 491 | 1997 | 1999 |
Royal Parkway Center | 2515 Perimeter Park | Industrial | - | 731 | 4,753 | 192 | 734 | 4,942 | 5,676 | 183 | 1990 | 1999 |
Royal Parkway Center | 500 Royal Parkway | Industrial | - | 599 | 4,636 | - | 603 | 4,632 | 5,235 | 171 | 1990 | 1999 |
Haywood Lane | Haywood Oaks East | Industrial | - | 969 | 5,417 | - | 969 | 5,417 | 6,386 | 124 | 2000 | 2000 |
NEW
ALBANY, OHIO
|
||||||||||||
New Albany | Novus Services, Inc. | Office | - | 4,531 | 45,312 | - | 4,531 | 45,312 | 49,843 | 598 | 1998 | 1998 |
NEW
HOPE, MINNESOTA
|
||||||||||||
Bass Lake Business Bldg | Bass Lake Business Bldg | Industrial | 985 | 298 | 1,715 | 51 | 298 | 1,765 | 2,063 | 151 | 1981 | 1997 |
NORCROSS,
GEORGIA
|
||||||||||||
3045 Business Park Dr. | 3045 Business Pk Drive | Industrial | - | 446 | 2,046 | - | 446 | 2,046 | 2,492 | 75 | 1998 | 1999 |
Gwinnett Park | 1750 Beaver Ruin | Industrial | - | 640 | 6,793 | - | 640 | 6,793 | 7,433 | 251 | 1997 | 1999 |
Gwinnett Park | 4258 Communications Drive | Industrial | - | 29 | 2,388 | - | 29 | 2,388 | 2,417 | 91 | 1981 | 1999 |
Gwinnett Park | 4261 Communications Drive | Industrial | - | 254 | 1,916 | 99 | 254 | 2,015 | 2,269 | 71 | 1981 | 1999 |
Gwinnett Park | 4291 Communications Drive | Industrial | - | 4 | 1,467 | - | 16 | 1,455 | 1,470 | 55 | 1981 | 1999 |
Gwinnett Park | 1826 Doan Way | Industrial | - | 51 | 3,065 | 80 | 51 | 3,145 | 3,196 | 125 | 1984 | 1999 |
Gwinnett Park | 1857 Doan Way | Industrial | - | 23 | 397 | 45 | 56 | 408 | 464 | 18 | 1970 | 1999 |
Gwinnett Park | 1650 International Blvd. | Industrial | - | 69 | 2,211 | 29 | 69 | 2,240 | 2,309 | 83 | 1984 | 1999 |
Gwinnett Park | 4245 International Blvd. | Industrial | - | 192 | 10,848 | - | 192 | 10,849 | 11,041 | 402 | 1995 | 1999 |
Gwinnett Park | 4250 International Blvd. | Industrial | - | 193 | 3,042 | 24 | 216 | 3,044 | 3,260 | 115 | 1986 | 1999 |
Gwinnett Park | 4295 International Blvd. | Industrial | - | 58 | 2,330 | 29 | 58 | 2,359 | 2,418 | 92 | 1984 | 1999 |
Gwinnett Park | 4320 International Blvd. | Industrial | - | 44 | 2,058 | 23 | 44 | 2,081 | 2,125 | 76 | 1984 | 1999 |
Gwinnett Park | 4350 International Blvd. | Industrial | - | 78 | 3,061 | 81 | 78 | 3,143 | 3,221 | 116 | 1982 | 1999 |
Gwinnett Park | 4355 International Blvd. | Industrial | - | 233 | 2,969 | 120 | 233 | 3,090 | 3,323 | 118 | 1983 | 1999 |
Gwinnett Park | 4405A International Blvd. | Industrial | - | 97 | 2,680 | 41 | 97 | 2,721 | 2,818 | 105 | 1984 | 1999 |
Gwinnett Park | 4405B International Blvd. | Industrial | - | 118 | 3,900 | 136 | 118 | 4,037 | 4,155 | 169 | 1984 | 1999 |
Gwinnett Park | 4405C International Blvd. | Industrial | - | 21 | 800 | 23 | 21 | 824 | 844 | 29 | 1984 | 1999 |
Gwinnett Park | 1828 Meca Way | Industrial | - | 16 | 2,621 | 109 | 16 | 2,730 | 2,746 | 130 | 1975 | 1999 |
Gwinnett Park | 1858 Meca Way | Industrial | - | 20 | 1,828 | 171 | 27 | 1,991 | 2,019 | 75 | 1975 | 1999 |
Gwinnett Park | 4316 Park Drive | Industrial | - | 262 | 1,420 | 102 | 262 | 1,522 | 1,784 | 57 | 1980 | 1999 |
Gwinnett Park | 4317 Park Drive | Industrial | - | 678 | 1,852 | - | 678 | 1,852 | 2,530 | 68 | 1985 | 1999 |
Gwinnett Park | 4357 Park Drive | Industrial | - | 12 | 2,251 | 192 | 12 | 2,444 | 2,456 | 103 | 1979 | 1999 |
Gwinnett Park | 4366 Park Drive | Office | - | 6 | 205 | 299 | 22 | 488 | 510 | 23 | 1981 | 1999 |
Gwinnett Park | 4386 Park Drive | Industrial | - | 17 | 986 | 313 | 17 | 1,299 | 1,316 | 67 | 1973 | 1999 |
Gwinnett Park | 4436 Park Drive | Industrial | - | 18 | 2,279 | - | 18 | 2,279 | 2,297 | 84 | 1968 | 1999 |
Gwinnett Park | 4437 Park Drive | Industrial | - | 21 | 2,644 | 38 | 21 | 2,683 | 2,704 | 100 | 1978 | 1999 |
Gwinnett Park | 4467 Park Drive | Industrial | - | 6 | 1,630 | 80 | 6 | 1,710 | 1,716 | 63 | 1978 | 1999 |
Gwinnett Park | 4476 Park Drive | Industrial | - | 14 | 1,669 | 93 | 14 | 1,762 | 1,776 | 65 | 1977 | 1999 |
Gwinnett Park | 4487 Park Drive | Industrial | - | 6 | 3,407 | 211 | 6 | 3,619 | 3,625 | 142 | 1978 | 1999 |
Gwinnett Park | 1835 Shackelfort Court | Office | - | 29 | 6,309 | 111 | 29 | 6,421 | 6,449 | 266 | 1990 | 1999 |
Gwinnett Park | 1854 Shackleford Road | Office | - | 52 | 10,387 | 479 | 52 | 10,866 | 10,918 | 411 | 1995 | 1999 |
Gwinnett Park | 4274 Shackleford Road | Industrial | - | 27 | 3,626 | 62 | 27 | 3,688 | 3,715 | 136 | 1974 | 1999 |
Gwinnett Park | 4275 Shackleford Court | Office | 519 | 8 | 2,125 | 157 | 12 | 2,278 | 2,290 | 85 | 1985 | 1999 |
Gwinnett Park | 4344 Shackleford Road | Industrial | - | 286 | 2,221 | 165 | 286 | 2,386 | 2,672 | 94 | 1975 | 1999 |
Gwinnett Park | 4355 Shackleford Road | Industrial | - | 7 | 6,856 | - | 7 | 6,856 | 6,863 | 254 | 1972 | 1999 |
Gwinnett Park | 4364 Shackleford Road | Industrial | - | 9 | 983 | - | 9 | 982 | 991 | 36 | 1973 | 1999 |
Gwinnett Park | 4366 Shackleford Road | Industrial | - | 20 | 2,567 | 305 | 26 | 2,865 | 2,892 | 111 | 1981 | 1999 |
Gwinnett Park | 4388 Shackleford Road | Industrial | - | 33 | 4,002 | 183 | 43 | 4,176 | 4,219 | 153 | 1981 | 1999 |
Gwinnett Park | 4400 Shackleford Road | Industrial | - | 14 | 1,568 | - | 18 | 1,563 | 1,582 | 59 | 1981 | 1999 |
Gwinnett Park | 4444 Shackleford Road | Industrial | - | 31 | 2,632 | 324 | 31 | 2,955 | 2,986 | 142 | 1979 | 1999 |
Gwinnett Pavillion | 1480 Beaver Ruin Road | Retail | - | 248 | 654 | 436 | 248 | 1,090 | 1,338 | 40 | 1989 | 1999 |
Gwinnett Pavillion | 1505 Pavilion Place | Industrial | - | 448 | 3,996 | - | 448 | 3,996 | 4,444 | 248 | 1988 | 1999 |
Gwinnett Pavillion | 3883 Steve Reynolds Blvd. | Industrial | - | 612 | 4,928 | - | 612 | 4,928 | 5,540 | 182 | 1990 | 1999 |
Gwinnett Pavillion | 3890 Steve Reynolds Blvd. | Industrial | - | 519 | 3,029 | - | 519 | 3,028 | 3,548 | 113 | 1991 | 1999 |
Gwinnett Pavillion | 3905 Steve Reynolds Blvd. | Industrial | - | 697 | 2,076 | 64 | 697 | 2,141 | 2,838 | 82 | 1995 | 1999 |
Gwinnett Pavillion | 3950 Steve Reynolds Blvd. | Industrial | - | 684 | 2,825 | - | 684 | 2,825 | 3,509 | 108 | 1992 | 1999 |
Gwinnett Pavillion | 4020 Steve Reynolds Blvd. | Industrial | - | 417 | 2,153 | - | 417 | 2,153 | 2,570 | 80 | 1997 | 1999 |
Gwinnett Pavillion | 4025 Steve Reynolds Blvd. | Industrial | - | 461 | 3,190 | - | 461 | 3,190 | 3,651 | 118 | 1994 | 1999 |
Northwoods | 2915 Courtyards Drive | Industrial | - | 268 | 1,961 | 43 | 268 | 2,005 | 2,272 | 84 | 1986 | 1999 |
Northwoods | 2925 Courtyards Drive | Industrial | - | 333 | 3,235 | - | 333 | 3,235 | 3,568 | 119 | 1986 | 1999 |
Northwoods | 2975 Courtyards Drive | Industrial | - | 144 | 1,264 | 23 | 144 | 1,288 | 1,431 | 51 | 1986 | 1999 |
Northwoods | 2995 Courtyards Drive | Industrial | - | 109 | 892 | - | 109 | 892 | 1,001 | 33 | 1986 | 1999 |
Northwoods | 2725 Northwoods Parkway | Industrial | - | 440 | 2,568 | 380 | 440 | 2,948 | 3,388 | 103 | 1984 | 1999 |
Northwoods | 2755 Northwoods Parkway | Industrial | - | 249 | 2,880 | - | 249 | 2,879 | 3,128 | 106 | 1986 | 1999 |
Northwoods | 2775 Northwoods Parkway | Industrial | - | 322 | 2,425 | - | 322 | 2,425 | 2,747 | 89 | 1986 | 1999 |
Northwoods | 2850 Colonnades Court | Industrial | - | 562 | 5,280 | - | 562 | 5,280 | 5,842 | 195 | 1988 | 1999 |
Northwoods | 3040 Northwoods Parkway | Industrial | - | 298 | 1,801 | 144 | 298 | 1,945 | 2,242 | 69 | 1984 | 1999 |
Northwoods | 3044 Northwoods Circle | Industrial | - | 167 | 718 | 34 | 167 | 752 | 919 | 28 | 1984 | 1999 |
Northwoods | 3055 Northwoods Parkway | Industrial | - | 213 | 1,556 | - | 213 | 1,557 | 1,770 | 58 | 1985 | 1999 |
Northwoods | 3075 Northwoods Parkway | Industrial | - | 374 | 2,865 | 169 | 374 | 3,034 | 3,407 | 115 | 1985 | 1999 |
Northwoods | 3100 Northwoods Parkway | Industrial | - | 393 | 2,543 | - | 393 | 2,544 | 2,937 | 94 | 1985 | 1999 |
Northwoods | 3155 Northwoods Parkway | Industrial | - | 331 | 2,504 | - | 331 | 2,504 | 2,835 | 92 | 1985 | 1999 |
Northwoods | 3175 Northwoods Parkway | Industrial | - | 250 | 2,071 | - | 250 | 2,071 | 2,321 | 77 | 1985 | 1999 |
Other Northeast I85 Properties | 6525-27 Jimmy Carter Blvd. | Industrial | - | 509 | 4,233 | 167 | 509 | 4,400 | 4,909 | 167 | 1983 | 1999 |
Other Northeast I85 Properties | 5755 Peachtree Industrial Blvd. | Office | - | 800 | 3,652 | 224 | 800 | 3,876 | 4,676 | 143 | 1997 | 1999 |
Other Northeast I85 Properties | 5765 Peachtree Industrial Blvd. | Industrial | - | 521 | 4,674 | - | 521 | 4,674 | 5,195 | 173 | 1997 | 1999 |
Other Northeast I85 Properties | 5775 Peachtree Industrial Blvd. | Industrial | - | 521 | 4,695 | 29 | 521 | 4,723 | 5,245 | 176 | 1997 | 1999 |
Peachtree Corners Business Center | 5401 Buford Highway | Industrial | - | 294 | 1,236 | 407 | 294 | 1,643 | 1,937 | 61 | 1987 | 1999 |
Peachtree Corners Business Center | 5403 Buford Highway | Industrial | - | 420 | 2,790 | 214 | 420 | 3,004 | 3,424 | 121 | 1987 | 1999 |
Peachtree Corners Business Center | 5405 Buford Highway | Industrial | - | 217 | 1,736 | 75 | 217 | 1,811 | 2,028 | 68 | 1989 | 1999 |
Peachtree Corners Business Center | 5409 Buford Highway | Industrial | - | 364 | 3,392 | 61 | 364 | 3,453 | 3,817 | 125 | 1989 | 1999 |
Peachtree Corners Tech Center | 3170 Reps Miller Road | Industrial | - | 500 | 3,662 | - | 500 | 3,661 | 4,161 | 136 | 1998 | 1999 |
Peachtree Corners Tech Center | 3180 Reps Miller Road | Industrial | - | 500 | 2,943 | 155 | 500 | 3,098 | 3,598 | 111 | 1998 | 1999 |
Peachtree Corners Tech Center | 3190 Reps Miller Road | Industrial | - | 525 | 2,363 | 213 | 525 | 2,576 | 3,101 | 111 | 1998 | 1999 |
NORTH
OLMSTEAD, OHIO
|
||||||||||||
Corporate Center | Corporate Center I | Office | - | 1,048 | 7,088 | 447 | 1,040 | 7,543 | 8,583 | 927 | 1985 | 1996 |
Corporate Center | Corporate Center II | Office | - | 1,048 | 7,169 | 1,084 | 1,048 | 8,253 | 9,301 | 1,222 | 1987 | 1996 |
Corporate Center | Corporate Center III | Office | - | 604 | 5,642 | 750 | 604 | 6,393 | 6,996 | 516 | 1999 | 1999 |
OLIVETTE,
MISSOURI
|
||||||||||||
1920 Beltway | 1920 Beltway | Industrial | - | 605 | 1,507 | 57 | 614 | 1,555 | 2,169 | 170 | 1986 | 1996 |
I-170 Center | I-170 Center | Industrial | - | 950 | 4,151 | 456 | 1,018 | 4,539 | 5,558 | 599 | 1986 | 1996 |
Warson Commerce Center | Warson Commerce Center | Industrial | - | 749 | 5,372 | 200 | 749 | 5,572 | 6,321 | 402 | 1997 | 1998 |
ORLANDO,
FLORIDA
|
||||||||||||
Airport Commerce Center | 8500 Parkline Blvd | Industrial | 2,498 | 691 | 4,419 | 294 | 691 | 4,713 | 5,404 | 188 | 1986 | 1999 |
Airport Commerce Center | 8501 Parkline Blvd. | Industrial | 811 | 169 | 1,497 | 88 | 169 | 1,584 | 1,754 | 53 | 1991 | 1999 |
Airport Commerce Center | 8549 Parkline Blvd. | Industrial | 774 | 149 | 1,344 | 181 | 149 | 1,524 | 1,674 | 57 | 1992 | 1999 |
Airport Commerce Center | 8351 Parkline Blvd. | Industrial | 1,151 | 212 | 2,251 | 27 | 212 | 2,278 | 2,490 | 84 | 1994 | 1999 |
Airport Commerce Center | 8249 Parkline Blvd | Industrial | - | 214 | 1,911 | - | 214 | 1,912 | 2,126 | 67 | 1996 | 1999 |
Airport Commerce Center | 1630 Prime Court | Industrial | - | 323 | 2,020 | 426 | 323 | 2,446 | 2,769 | 86 | 1996 | 1999 |
Airport Commerce Center | 1629 Prime Court | Industrial | - | 281 | 2,434 | 68 | 281 | 2,502 | 2,784 | 93 | 1997 | 1999 |
Business Centre at Lee Vista | 7101 TPC Drive | Industrial | - | 819 | 4,545 | 448 | 819 | 4,993 | 5,812 | 427 | 1998 | 1999 |
Parksouth Distribution Center | 2500 Principal Row | Industrial | - | 565 | 4,893 | - | 565 | 4,893 | 5,458 | 181 | 1996 | 1999 |
Parksouth Distribution Center | 2490 Principal Row | Industrial | - | 493 | 4,665 | - | 493 | 4,665 | 5,158 | 172 | 1997 | 1999 |
Parksouth Distribution Center | 2491 Principal Row | Industrial | - | 593 | 4,401 | - | 593 | 4,401 | 4,994 | 163 | 1998 | 1999 |
Parksouth Distribution Center | 9600 Parksouth Court | Industrial | - | 649 | 5,022 | - | 649 | 5,022 | 5,671 | 186 | 1997 | 1999 |
Parksouth Distribution Center | 9550 Parksouth Ct. | Industrial | - | 1,030 | 5,525 | 402 | 1,030 | 5,927 | 6,957 | 271 | 1999 | 1999 |
Business Centre At Lee Vista | 7022 TPC Drive (Lee Vista II) | Industrial | - | 740 | 2,958 | - | 740 | 2,958 | 3,698 | 58 | 1999 | 1999 |
Parksouth Dist. Center | Parksouth Dist. Ctr-Bldg H | Industrial | - | 725 | 3,002 | - | 725 | 3,002 | 3,727 | 19 | 2000 | 2000 |
PEPPER
PIKE, OHIO
|
||||||||||||
Corporate Circle | Corporate Circle | Office | - | 1,696 | 11,368 | 1,319 | 1,698 | 12,685 | 14,383 | 1,344 | 1983 | 1996 |
PLAINFIELD,
INDIANA
|
||||||||||||
Plainfield Business Park | Plainfield Building 1 | Industrial | - | 1,104 | 10,756 | - | 1,104 | 10,756 | 11,860 | 213 | 2000 | 2000 |
Plainfield | Plainfield Building 2 | Industrial | - | 1,387 | 9,003 | - | 1,387 | 9,003 | 10,391 | 118 | 2000 | 2000 |
PLANO,
TEXAS
|
||||||||||||
Legacy Business Park | Metasolv Building Phase I | Office | - | 1,527 | 5,831 | 412 | 1,527 | 6,243 | 7,770 | 243 | 1997 | 1999 |
Legacy Business Park | Metasolv Building Phase II | Office | - | 1,181 | 9,882 | - | 1,181 | 9,882 | 11,063 | 358 | 1999 | 1999 |
PLYMOUTH,
MINNESOTA
|
||||||||||||
Medicine Lake Industrial Ctr | Medicine Lake Indus. Center | Industrial | 4,147 | 1,158 | 6,645 | 131 | 1,145 | 6,789 | 7,934 | 550 | 1970 | 1997 |
Plymouth Office/Tech Center | Plymouth Office/Tech Center | Industrial | - | 428 | 2,430 | 279 | 431 | 2,706 | 3,137 | 176 | 1986 | 1998 |
Plymouth Service Center | Plymouth Service Center | Industrial | - | 345 | 1,971 | 664 | 351 | 2,629 | 2,980 | 137 | 1978 | 1999 |
Westpoint Buildings | Westpoint Business Ctr | Office | - | 98 | 569 | 219 | 114 | 772 | 886 | 55 | 1978 | 1999 |
Westpoint Buildings | Westpoint Bldg B&C | Industrial | - | 370 | 2,115 | 286 | 370 | 2,401 | 2,771 | 95 | 1978 | 1999 |
Minneapolis | Westpoint Bldg D&E | Industrial | - | 362 | 2,071 | 529 | 362 | 2,600 | 2,962 | 130 | 1978 | 1999 |
RALEIGH,
NORTH CAROLINA
|
||||||||||||
Interchange Plaza | 5520 Capital Center Drive | Office | 2,863 | 842 | 3,796 | 546 | 842 | 4,343 | 5,184 | 185 | 1993 | 1999 |
Interchange Plaza | 801 Jones Franklin Road | Office | 5,467 | 1,351 | 7,778 | 33 | 1,351 | 7,811 | 9,162 | 296 | 1995 | 1999 |
Spring Forest Business Center | 3200 Spring Forest Road | Industrial | - | 561 | 5,240 | 110 | 561 | 5,351 | 5,912 | 202 | 1986 | 1999 |
Spring Forest Business Center | 3100 Spring Forest Road | Industrial | - | 616 | 4,220 | 64 | 616 | 4,284 | 4,900 | 166 | 1992 | 1999 |
Millbrook/Brook Forest | Brook Forest I | Office | - | 935 | 4,716 | - | 935 | 4,716 | 5,651 | 66 | 2000 | 2000 |
ROSWELL,
GEORGIA
|
||||||||||||
Hembree Crest | 11545 Wills Road | Industrial | - | 1,225 | 6,461 | - | 1,225 | 6,462 | 7,687 | 239 | 1998 | 1999 |
Hembree Park | 105 Hembree Park Drive | Industrial | - | 288 | 1,791 | 221 | 288 | 2,012 | 2,300 | 74 | 1988 | 1999 |
Hembree Park | 150 Hembree Park Drive | Industrial | - | 824 | 3,751 | 57 | 824 | 3,808 | 4,632 | 160 | 1985 | 1999 |
Hembree Park | 200 Hembree Park Drive | Industrial | - | 160 | 2,059 | 71 | 160 | 2,130 | 2,290 | 79 | 1985 | 1999 |
Hembree Park | 645 Hembree Parkway | Industrial | - | 248 | 2,620 | 116 | 248 | 2,736 | 2,984 | 104 | 1986 | 1999 |
Hembree Park | 655 Hembree Parkway | Industrial | - | 248 | 2,755 | - | 248 | 2,755 | 3,003 | 103 | 1986 | 1999 |
Hembree Park | 250 Hembree Park Drive | Industrial | - | 686 | 5,288 | - | 686 | 5,288 | 5,974 | 195 | 1996 | 1999 |
Hembree Park | 660 Hembree Park Drive | Industrial | - | 785 | 5,070 | - | 785 | 5,071 | 5,855 | 190 | 1998 | 1999 |
Mansell Commons | 993 Mansell Road | Industrial | - | 136 | 1,285 | - | 136 | 1,285 | 1,421 | 47 | 1987 | 1999 |
Mansell Commons | 995 Mansell Road | Industrial | - | 80 | 915 | 39 | 80 | 954 | 1,034 | 48 | 1987 | 1999 |
Mansell Commons | 997 Mansell Road | Industrial | - | 72 | 664 | 58 | 72 | 722 | 794 | 33 | 1987 | 1999 |
Mansell Commons | 999 Mansell Road | Industrial | - | 104 | 960 | - | 104 | 960 | 1,064 | 37 | 1987 | 1999 |
Mansell Commons | 1003 Mansell Road | Industrial | - | 136 | 1,362 | - | 136 | 1,361 | 1,497 | 50 | 1987 | 1999 |
Mansell Commons | 1005 Mansell Road | Industrial | - | 72 | 946 | - | 72 | 947 | 1,019 | 37 | 1987 | 1999 |
Mansell Commons | 1007 Mansell Road | Industrial | - | 168 | 2,129 | 155 | 168 | 2,284 | 2,452 | 119 | 1987 | 1999 |
Mansell Commons | 1009 Mansell Road | Industrial | - | 264 | 2,539 | 35 | 264 | 2,574 | 2,838 | 95 | 1986 | 1999 |
Mansell Commons | 1011 Mansell Road | Industrial | - | 256 | 2,655 | - | 256 | 2,655 | 2,911 | 98 | 1984 | 1999 |
Northmeadow | 1100 Northmeadow Parkway | Industrial | - | 552 | 3,955 | 238 | 552 | 4,193 | 4,745 | 187 | 1989 | 1999 |
Northmeadow | 1150 Northmeadow Parkway | Industrial | - | 464 | 3,230 | - | 464 | 3,230 | 3,694 | 119 | 1988 | 1999 |
Northmeadow | 1125 Northmeadow Parkway | Industrial | - | 320 | 3,638 | 308 | 320 | 3,946 | 4,266 | 185 | 1987 | 1999 |
Northmeadow | 1175 Northmeadow Parkway | Industrial | - | 328 | 3,409 | 331 | 328 | 3,741 | 4,069 | 164 | 1987 | 1999 |
Northmeadow | 1250 Northmeadow Parkway | Industrial | - | 312 | 4,359 | 247 | 312 | 4,605 | 4,917 | 196 | 1989 | 1999 |
Northmeadow | 1225 Northmeadow Parkway | Industrial | - | 336 | 3,518 | 64 | 336 | 3,582 | 3,918 | 136 | 1989 | 1999 |
Northmeadow | 1325 Northmeadow Parkway | Industrial | - | 472 | 6,432 | 303 | 472 | 6,735 | 7,207 | 280 | 1990 | 1999 |
Northmeadow | 1335 Northmeadow Parkway | Industrial | - | 946 | 8,174 | - | 946 | 8,174 | 9,120 | 302 | 1996 | 1999 |
Northmeadow | 11390 Old Roswell Road | Industrial | - | 530 | 3,643 | - | 530 | 3,642 | 4,173 | 135 | 1997 | 1999 |
Northmeadow | 1400 Hembree Road | Industrial | - | 545 | 3,374 | - | 545 | 3,373 | 3,918 | 125 | 1998 | 1999 |
Northmeadow | 245 Hembree Park Drive | Industrial | - | 616 | 6,375 | 545 | 616 | 6,920 | 7,536 | 245 | 1999 | 1999 |
Northmeadow | 1357 Hembree Road | Office | - | 471 | 4,534 | 373 | 471 | 4,907 | 5,378 | 453 | 1999 | 1999 |
Northmeadow | Northmeadow BD IV | Industrial | - | 694 | 5,727 | - | 694 | 5,727 | 6,421 | 182 | 1999 | 1999 |
Northmeadow | Northmeadow Service Ctr V | Industrial | - | 705 | 3,351 | - | 705 | 3,351 | 4,056 | 124 | 1999 | 1999 |
Other North Central Properties | 10745 Westside Parkway | Office | - | 925 | 7,177 | - | 925 | 7,178 | 8,103 | 264 | 1995 | 1999 |
Northbrook | Northbrook Business Dist II | Industrial | - | 260 | 2,060 | - | 260 | 2,060 | 2,320 | 17 | 2000 | 2000 |
Northmeadow | Northmeadow BD VI | Industrial | - | 423 | 2,206 | - | 423 | 2,206 | 2,630 | 19 | 1999 | 1999 |
SEVEN
HILLS, OHIO
|
||||||||||||
Rock Run | Rock Run - North | Office | 3,196 | 837 | 5,609 | 286 | 837 | 5,895 | 6,732 | 800 | 1984 | 1996 |
Rock Run | Rock Run - Center | Office | 4,261 | 1,046 | 6,967 | 962 | 1,046 | 7,929 | 8,975 | 1,136 | 1985 | 1996 |
Rock Run | Rock Run - South | Office | 3,307 | 877 | 5,888 | 200 | 877 | 6,088 | 6,965 | 762 | 1986 | 1996 |
SHARONVILLE,
OHIO
|
||||||||||||
Enterprise Park | Enterprise Bldg 1 | Industrial | 4,520 | 1,030 | 5,997 | 354 | 1,051 | 6,330 | 7,381 | 1,199 | 1990 | 1993 |
Enterprise Park | Enterprise Bldg 2 | Industrial | 3,217 | 733 | 3,864 | 657 | 747 | 4,507 | 5,254 | 998 | 1990 | 1993 |
Enterprise Park | Enterprise Bldg A | Industrial | 313 | 119 | 728 | 73 | 119 | 802 | 921 | 111 | 1987 | 1995 |
Enterprise Park | Enterprise Bldg B | Industrial | 483 | 119 | 1,227 | 74 | 119 | 1,300 | 1,419 | 194 | 1988 | 1995 |
Enterprise Park | Enterprise Bldg D | Industrial | 930 | 243 | 1,967 | 525 | 243 | 2,492 | 2,735 | 647 | 1989 | 1995 |
Mosteller Dist. Center | Mosteller Distribution Center | Industrial | - | 1,327 | 6,280 | 1,044 | 1,327 | 7,324 | 8,651 | 1,721 | 1996 | 1996 |
Mosteller Dist. Center | Mosteller Distribution Center II | Industrial | - | 828 | 4,726 | 1,035 | 828 | 5,761 | 6,590 | 780 | 1997 | 1997 |
Perimeter Park | Perimeter Park Bldg A | Industrial | - | 229 | 1,343 | 103 | 229 | 1,446 | 1,675 | 148 | 1991 | 1996 |
Perimeter Park | Perimeter Park Bldg B | Industrial | - | 244 | 1,063 | 113 | 244 | 1,176 | 1,420 | 146 | 1991 | 1996 |
SOLON,
OHIO
|
||||||||||||
Fountain Parkway | Pioneer-Standard Electronics | Industrial | - | 1,138 | 8,661 | 17 | 1,138 | 8,679 | 9,816 | 470 | 1998 | 1999 |
Fountain Parkway | Fountain Parkway Bldg 1 | Industrial | - | 527 | 2,889 | 34 | 527 | 2,923 | 3,450 | 221 | 1998 | 1998 |
6450 Davis-Ameritech | 6450 Davis-Ameritech | Industrial | - | 697 | 2,065 | 79 | 697 | 2,144 | 2,841 | - | 1999 | 1999 |
Solon | 30600 Carter | Industrial | - | 819 | 3,388 | 291 | 821 | 3,677 | 4,498 | 304 | 1971 | 1997 |
Solon | 6230 Cochran | Industrial | - | 600 | 2,482 | 556 | 602 | 3,037 | 3,638 | 320 | 1977 | 1997 |
Solon | 31900 Solon - Front | Industrial | - | 473 | 1,945 | 108 | 474 | 2,052 | 2,526 | 157 | 1974 | 1997 |
Solon | 5821 Harper | Industrial | - | 554 | 2,285 | 259 | 555 | 2,543 | 3,098 | 246 | 1970 | 1997 |
Solon | 6161 Cochran | Industrial | - | 395 | 1,624 | 185 | 396 | 1,808 | 2,204 | 159 | 1978 | 1997 |
Solon | 5901 Harper | Industrial | - | 349 | 1,441 | 157 | 350 | 1,597 | 1,947 | 133 | 1970 | 1997 |
Solon | 29125 Solon | Industrial | - | 504 | 2,072 | 63 | 505 | 2,134 | 2,640 | 166 | 1980 | 1997 |
Solon | 6661 Cochran | Industrial | - | 244 | 1,012 | 100 | 245 | 1,111 | 1,356 | 102 | 1979 | 1997 |
Solon | 6521 Davis | Industrial | - | 128 | 529 | 42 | 128 | 571 | 699 | 45 | 1979 | 1997 |
Solon | 30301 Carter Street | Industrial | - | 650 | 5,205 | 147 | 650 | 5,352 | 6,002 | 436 | 1972 | 1999 |
ST.
CHARLES, MISSOURI
|
||||||||||||
Alfa-Laval | Alfa-Laval | Industrial | - | 1,158 | 5,239 | 308 | 1,158 | 5,546 | 6,704 | 566 | 1996 | 1996 |
ST.
LOUIS PARK, MINNESOTA
|
||||||||||||
Cedar Lake Business Ctr | Cedar Lake Business Center | Industrial | - | 332 | 1,920 | 87 | 332 | 2,007 | 2,339 | 172 | 1976 | 1997 |
5219 Buildings | 5219 Building | Office | - | 99 | 574 | 31 | 102 | 603 | 705 | 38 | 1965 | 1998 |
Minneapolis-West | Novartis Warehouse | Industrial | - | 2,005 | 10,914 | 432 | 2,005 | 11,346 | 13,351 | 767 | 1960 | 1998 |
Minneapolis-West | North Plaza | Office | - | 374 | 1,662 | 152 | 374 | 1,815 | 2,189 | 144 | 1966 | 1998 |
7320 Oxford Street | Oxford Industrial Bldg | Industrial | - | 102 | 591 | 15 | 102 | 606 | 708 | 49 | 1971 | 1997 |
Minneapolis-West | South Plaza | Office | - | 397 | 2,306 | - | 397 | 2,306 | 2,703 | 149 | 1966 | 1998 |
Minneapolis-West | Travelers Express Towers | Office | 16,000 | 3,039 | 35,964 | 192 | 3,091 | 36,104 | 39,195 | 1,439 | 1987 | 1999 |
Minneapolis-West | 1600 Tower | Office | - | 2,321 | 29,561 | - | 2,321 | 29,561 | 31,882 | 351 | 2000 | 2000 |
ST.
LOUIS, MISSOURI
|
||||||||||||
Craig Park Center | Craig Park Center | Industrial | - | 254 | 2,291 | 185 | 254 | 2,475 | 2,729 | 144 | 1984 | 1998 |
NGIC/Pointe 70 | 3300 Pointe 70 | Office | 4,324 | 1,186 | 7,526 | 477 | 1,186 | 8,003 | 9,189 | 838 | 1989 | 1997 |
Laumeier Office Park | Laumeier I | Office | - | 1,384 | 9,992 | 450 | 1,384 | 10,442 | 11,826 | 1,791 | 1987 | 1995 |
Laumeier Office Park | Laumeier II | Office | - | 1,421 | 9,971 | 543 | 1,421 | 10,513 | 11,934 | 1,672 | 1988 | 1995 |
Maryville Center | 500-510 Maryville Center | Office | 14,675 | 3,402 | 24,719 | 296 | 3,402 | 25,014 | 28,416 | 2,077 | 1984 | 1997 |
Maryville Center | 530 Maryville Center | Office | 7,786 | 2,219 | 15,683 | 622 | 2,219 | 16,305 | 18,524 | 1,340 | 1990 | 1997 |
Maryville Center | 550 Maryville Center | Office | 10,114 | 1,996 | 12,501 | - | 1,996 | 12,501 | 14,497 | 1,011 | 1988 | 1997 |
Maryville Center | 635-645 Maryville Center | Office | 11,948 | 3,048 | 18,371 | - | 3,048 | 18,371 | 21,419 | 1,682 | 1987 | 1997 |
Maryville Center | 655 Maryville Center | Office | 8,550 | 1,860 | 13,213 | - | 1,860 | 13,213 | 15,073 | 1,061 | 1994 | 1997 |
Maryville Center | 540 Maryville Center | Office | - | 2,219 | 14,885 | - | 2,219 | 14,885 | 17,104 | 1,350 | 1990 | 1997 |
Maryville Center | 520 Maryville Center | Office | - | 2,404 | 15,923 | - | 2,404 | 15,923 | 18,328 | 1,229 | 1998 | 1999 |
Riverport | Express Scripts HQ | Office | - | 2,285 | 12,358 | - | 2,285 | 12,357 | 14,642 | 1,152 | 1999 | 1999 |
St. Louis Business Center | St. Louis Business Center A | Industrial | - | 194 | 1,749 | 185 | 194 | 1,934 | 2,127 | 107 | 1987 | 1998 |
St. Louis Business Center | St. Louis Business Center B | Industrial | - | 250 | 2,255 | 792 | 250 | 3,047 | 3,297 | 197 | 1986 | 1998 |
St. Louis Business Center | St. Louis Business Center C | Industrial | - | 166 | 1,498 | 449 | 166 | 1,946 | 2,112 | 222 | 1986 | 1998 |
St. Louis Business Center | St. Louis Business Center D | Industrial | - | 168 | 1,518 | 288 | 168 | 1,805 | 1,973 | 123 | 1987 | 1998 |
Westmark | Westmark | Office | - | 1,497 | 10,777 | 1,666 | 1,497 | 12,444 | 13,941 | 1,562 | 1987 | 1995 |
Westview Place | Westview Place | Office | - | 669 | 9,276 | 1,068 | 669 | 10,344 | 11,013 | 1,610 | 1988 | 1995 |
Maryville Center | 700 Maryville Centre | Office | - | 4,549 | 27,737 | - | 4,556 | 27,730 | 32,285 | 802 | 1999 | 1999 |
Maryville Center | 533 Maryville Centre | Office | - | 3,230 | 16,707 | - | 3,230 | 16,707 | 19,937 | 0 | 2000 | 2000 |
West Port | Westport Center IV | Industrial | - | 1,440 | 5,375 | - | 1,440 | 5,375 | 6,816 | 155 | 2000 | 2000 |
West Port | Westport Center V | Industrial | - | 494 | 1,535 | - | 494 | 1,535 | 2,029 | 53 | 1999 | 1999 |
West Port | Westport Place | Office | - | 1,979 | 6,987 | - | 1,979 | 6,987 | 8,967 | 332 | 1999 | 1999 |
ST.
PAUL, MINNESOTA
|
||||||||||||
University Crossing | University Crossing | Industrial | - | 874 | 5,013 | 404 | 911 | 5,379 | 6,290 | 365 | 1990 | 1998 |
ST.
PETERS, MISSOURI
|
||||||||||||
Horizon Business Center | Horizon Business Center | Industrial | 1,173 | 344 | 2,470 | 93 | 344 | 2,563 | 2,907 | 182 | 1985 | 1998 |
STRONGSVILLE,
OHIO
|
||||||||||||
Park 82 | Park 82 Bldg 2 | Industrial | - | 322 | 2,873 | 719 | 322 | 3,592 | 3,914 | 317 | 1998 | 1998 |
Park 82 | Park 82 Bldg 1 | Industrial | - | 243 | 1,955 | 357 | 243 | 2,313 | 2,556 | 200 | 1998 | 1998 |
Park 82 | Park 82 Bldg 3 | Industrial | - | 298 | 2,650 | 375 | 298 | 3,025 | 3,323 | 127 | 1999 | 1999 |
Johnson Controls | Johnson Controls | Industrial | - | 364 | 2,389 | 75 | 364 | 2,464 | 2,828 | 223 | 1972 | 1997 |
Dyment | Dyment | Industrial | - | 816 | 5,337 | 28 | 816 | 5,366 | 6,182 | 486 | 1988 | 1997 |
Park 82 | Park 82 Bldg 4 | Industrial | - | 386 | 5,225 | - | 386 | 5,225 | 5,611 | 66 | 2000 | 2000 |
Park 82 | Park 82 Bldg 5 | Industrial | - | 377 | 3,832 | - | 377 | 3,832 | 4,209 | - | 2000 | 2000 |
Srague Rd. Industrial | Mohawk Dr. Bldg. 1 | Industrial | - | 567 | 4,300 | - | 567 | 4,300 | 4,867 | 1 | 2000 | 2000 |
SUNSET
HILLS, MISSOURI
|
||||||||||||
Laumeier Office Park | Laumeier IV | Office | - | 1,029 | 7,368 | - | 1,029 | 7,369 | 8,398 | 501 | 1987 | 1998 |
SUWANEE,
GEORGIA
|
||||||||||||
Other North Central Properties | 7250 McGinnis Ferry Road | Industrial | - | 498 | 4,795 | - | 498 | 4,795 | 5,293 | 177 | 1996 | 1999 |
TAMPA,
FLORIDA
|
||||||||||||
Faifield Business Center | 8640 Elm Fair Blvd. | Industrial | - | 483 | 2,671 | - | 483 | 2,671 | 3,154 | 104 | 1998 | 1999 |
Faifield Business Center | 4720 Oak Fair Blvd. | Industrial | - | 530 | 4,990 | - | 530 | 4,990 | 5,520 | 188 | 1998 | 1999 |
Fairfield Distribution Center | 4758 Oak Fair Blvd. | Industrial | - | 334 | 2,771 | 39 | 334 | 2,810 | 3,144 | 99 | 1999 | 1999 |
Fairfield Distribution Center | Fairfield Distribution Ctr IV | Industrial | - | 600 | 2,521 | 831 | 600 | 3,356 | 3,956 | 131 | 1999 | 1999 |
Highland Oaks | Highland Oaks I | Office | - | 1,525 | 14,176 | - | 1,525 | 14,176 | 15,701 | 802 | 1999 | 1999 |
Fairfield Distribution Center | Fairfield Distribution Ctr V | Industrial | - | 484 | 2,657 | - | 484 | 2,657 | 3,141 | 22 | 2000 | 2000 |
Highland Oaks | Highland Oaks II | Office | - | 1,605 | 9,377 | - | 1,605 | 9,378 | 10,983 | 163 | 1999 | 1999 |
TWINSBURG,
OHIO
|
||||||||||||
Enterprise Parkway | Enterprise Parkway #1 | Industrial | - | 198 | 1,573 | 211 | 198 | 1,784 | 1,983 | 115 | 1995 | 1998 |
Enterprise Parkway | Enterprise Parkway Bldg 2 | Industrial | - | 610 | 7,113 | - | 610 | 7,113 | 7,723 | 137 | 2000 | 2000 |
WEST
CHESTER, OHIO
|
||||||||||||
World Park | World Park at Union Ctr 12 | Industrial | - | 306 | 2,191 | - | 306 | 2,191 | 2,496 | 12 | 2000 | 2000 |
WESTERVILLE,
OHIO
|
||||||||||||
Polaris | Liebert | Office | - | 755 | 4,475 | 800 | 755 | 5,275 | 6,030 | 463 | 1999 | 1999 |
WESTMONT,
ILLINOIS
|
||||||||||||
Oakmont Tech Center | Oakmont Tech Center | Industrial | - | 1,501 | 8,650 | 6 | 1,501 | 8,656 | 10,157 | 466 | 1989 | 1998 |
Oakmont Circle Office | Oakmont Circle Office | Office | - | 2,438 | 14,124 | 458 | 2,438 | 14,581 | 17,020 | 824 | 1990 | 1998 |
WOODLAWN,
OHIO
|
||||||||||||
Glenwood Crossing | Glenwood Crossing | Retail | - | 3,650 | 1,092 | 115 | 3,650 | 1,206 | 4,856 | 47 | 1999 | 1999 |
Eliminations | Eliminations | N/A | - | - | - | (19,197) | (5,762) | (13,434) | (19,196) | (5,074) | N/A | N/A |
Secured debt on non-buildings |
52,657
|
|
|
|
|
|
|
|
||||
Totals |
466,624
|
581,071
|
3,832,952
|
156,540
|
581,530
|
3,989,033
|
4,570,563
|
338,426
|
DUKE-WEEKS
REALTY CORPORATION
REAL ESTATE AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2000
(IN THOUSANDS)
(1) | Costs capitalized subsequent to acquisition include decreases for purchase price reduction payments received and land sales or takedowns. |
(2) | Depreciation of real estate is computed using the straight-line method over 40 years for buildings, 15 years for land improvements and shorter periods based on lease terms (generally 3 to 10 years) for tenant improvements |
(3) | Building was placed in service in December 2000. |
(4) | Land leases not depreciated |
(5) | Building is designated as held for sale by the Company as of December 31, 2000, therefore, no depreciation expense is recognized. |
Real Estate Assets
|
Accumulated
Depreciation
|
|||||
2000
|
1999
|
1998
|
2000
|
1999
|
1998
|
|
Balance at beginning of year | $4,726,906 | $2,403,779 | $1,823,218 | $254,574 | $179,887 | $116,264 |
Acquisitions | 6,104 | 162,876 | 324,043 | - | - | - |
Merger with Weeks Corporation | - | 1,659,578 | ||||
Construction costs and tenant improvements | 575,492 | 537,865 | 251,899 | - | - | - |
Depreciation expense | - | - | - | 141,989 | 100,063 | 61,414 |
Acquisition of minority interest |
7,615
|
49,472
|
5,450
|
-
|
-
|
-
|
5,316,117 | 4,813,570 | 2,404,610 | 396,563 | 279,950 | 177,678 | |
Deductions during year: | ||||||
Cost of real estate sold or contributed | (745,554) | (86,664) | (1,329) | (58,137) | (24,851) | (337) |
Other |
-
|
-
|
498
|
|
(525)
|
2,546
|
Balance at end of year |
$4,570,563
|
$4,726,906
|
$2,403,779
|
$338,426
|
$254,574
|
$179,887
|
3. Exhibits
Certain exhibits required by Item 601 of Regulation S-K have been filed with previous reports by the Company and are herein incorporated by reference thereto.
Number
|
Description
|
3.1 | Second Amended and Restated Articles of Incorporation of Duke-Weeks Realty Corporation, incorporated by reference from Exhibit 3.1 to the Current Report of Duke-Weeks Realty Corporation on Form 8-K filed July 16, 1999. |
3.2 | Amendment to the Second Amended and Restated Articles of Incorporation of Duke-Weeks Realty Corporation, incorporated by reference from Exhibit 3 of Duke-Weeks Realty Corporation Form 8-K filed January 31, 2001. |
3.3 | Second Amended and Restated Bylaws of Duke-Weeks Realty Corporation, incorporated by reference from Exhibit 3.2 to the Current Report of Duke-Weeks Realty Corporation on Form 8-K filed July 16, 1999. |
4.1 | Indenture between Duke-Weeks Realty Limited Partnership (f/k/a Duke Realty Limited Partnership) and The First National Bank of Chicago, Trustee, incorporated by reference to Exhibit 4.1 to the Duke-Weeks Realty Corporation (f/k/a Duke Realty Investments, Inc.) Current Report on Form 8-K dated September 22, 1995. |
4.2 | First Supplement to Indenture, incorporated by reference to Exhibit 4.2 to the Duke-Weeks Realty Corporation (f/k/a Duke Realty Investments, Inc.) Current Report on Form 8-K filed September 22, 1995. |
4.3 | Second Supplement to Indenture, incorporated by reference to Exhibit 4 to the Duke-Weeks Realty Limited Partnership (f/k/a Duke Realty Limited Partnership) Current Report on Form 8-K filed July 12, 1996 . |
4.4 | Third Supplement to Indenture, incorporated by reference to Exhibit 4 to the Duke-Weeks Realty Limited Partnership (f/k/a Duke Realty Limited Partnership) Current Report on Form 8-K filed May 20, 1997. |
4.5 | Fourth Supplement to Indenture, incorporated by reference to Exhibit 4.8 to the Duke-Weeks Realty Corporation (f/k/a Duke Realty Investments, Inc.) Form S-4 dated May 4, 1999 (Merger Registration Statement). |
4.6 | Fifth Supplement to Indenture, incorporated by reference to Exhibit 4 to the Duke-Weeks Realty Limited Partnership (f/k/a Duke Realty Limited Partnership) Current Report on Form 8-K filed June 1, 1998. |
4.7 | Sixth Supplement to Indenture, incorporated by reference to Exhibit 4 to the Duke-Weeks Realty Limited Partnership (f/k/a Duke Realty Limited Partnership) Current Report on Form 8-K filed February 12, 1999. |
4.8 | Seventh Supplement to Indenture, incorporated by reference to Exhibit 4 to the Duke-Weeks Realty Limited Partnership (f/k/a Duke Realty Limited Partnership) Current Report on Form 8-K filed June 29, 1999. |
4.9 | Eighth Supplement to Indenture, incorporated by reference to Exhibit 4 to the Duke-Weeks Realty Limited Partnership (f/k/a Duke Realty Limited Partnership) Current Report on Form 8-K filed November 15, 1999. |
4.10 | Ninth supplement to Indenture, incorporated by reference to Exhibit 4 to the Duke-Weeks Realty Limited Partnership Current Report on Form 8-K filed March 2, 2001. |
4.11 | Indenture between Weeks Realty, L.P. and State Street Bank and Trust Company, incorporated by reference to the Weeks Realty, L.P. Form 8-A, filed on August 3, 1998. |
4.12 | First Supplement to Indenture, incorporated by reference to the Weeks Realty, L.P. Form 8-A, filed on August 2, 1998. |
10.1 | Second Amended and Restated Agreement of Limited Partnership of Duke-Weeks Realty Limited Partnership, incorporated by reference from Exhibit 4.1 to the Current Report of Duke-Weeks Realty Limited Partnership on Form 8-K filed July 16, 1999. |
10.2 | First Amendment to Second Amended and Restated Agreement of Limited Partnership of Duke-Weeks Realty Limited Partnership. |
10.3 | Second Amended and Restated Agreement of Limited Partnership of Duke Realty Services Limited Partnership (the Services Partnership) is incorporated herein by reference to Exhibit 10.3 to the Annual Report on Form 10-K for the year ended December 31, 1995. |
10.4 | Promissory Note of the Services Partnership is incorporated herein by reference to Exhibit 10.3 to the 1993 Registration Statement. |
10.5 | Duke Realty Services Limited Partnership 1993 Stock Option Plan is incorporated herein by reference to Exhibit 10.4 to the 1993 Registration Statement.* |
10.6 | Acquisition Option Agreement relating to certain properties not contributed to the Operating Partnership by Duke Associates (the Excluded Properties) is incorporated herein by reference to Exhibit 10.5 to the 1993 Registration Statement. |
10.7 | Management Agreement relating to the Excluded Properties is incorporated herein by reference to Exhibit 10.6 to the 1993 Registration Statement. |
10.8 | Indemnification Agreement is incorporated herein by reference to Exhibit 10.11 to the 1993 Registration Statement. |
10.9 | 1995 Key Employee Stock Option Plan is incorporated herein by reference to Exhibit 10.13 to the Annual Report on Form 10-K for the year ended December 31, 1995.* |
10.10 | 1995 Dividend Increase Unit Plan is incorporated herein by reference to Exhibit 10.14 to the Annual Report on Form 10-K for the year ended December 31, 1995.* |
10.11 | 1995 Shareholder Value Plan is incorporated herein by reference to Exhibit 10.15 to the Annual Report on Form 10-K for the year ended December 31, 1995.* |
10.12 | 1998 Shareholder Rights Agreement is incorporated herein by reference to Exhibit 7.1 to the Form 8-K dated July 31, 1998. |
10.13 | 1998 Duke Realty Severance Pay Plan is incorporated herein by reference to Exhibit 10.18 to the Annual Report Form 10-K dated March 31, 1999.*. |
10.14 | 1999 Directors Stock Option and Dividend Increase Unit Plan is incorporated by reference to Annex F to the Prospectus in the Merger Registration Statement.* |
10.15 | 1999 Salary Replacement Stock Option and Dividend Increase Unit Plan is incorporated by reference to Annex G to the Prospectus in the Merger Registration Statement.* |
10.16 | Revolving Credit Agreement dated July 2, 1999, by and among Duke-Weeks Realty Limited Partnership as borrower, Duke-Weeks Realty Corporation as General Partner and guarantor, Banc One Capital Markets, Inc. and Wachovia Securities, Inc. (Wachovia) as lead arrangers and joint book runners, Wells Fargo Bank, National Association (Wells Fargo), as co-arranger, the First National Bank of Chicago as lender and administrative agent, Wells Fargo and Wachovia as co-syndication agents, First Union National Bank and PNC Bank as co-agents and lenders, is hereby incorporated by reference to Exhibit 10.1 to the Registrant's Form 8-K filed March 17, 2000. |
10.17 | Second Amended and Restated Revolving Credit Agreement by and among Duke-Weeks Realty Limited Partnership(the Borrower), Duke-Weeks Realty Corporation (the General Partner and the Guarantor), First Chicago Capital Markets, Inc. (FCCM) and Wells Fargo Bank, National Association (Wells Fargo) (collectively, the Arrangers), The First National Bank of Chicago (First Chicago) as a Lender and not individually, but as Administrative Agent, Wells Fargo as Syndication Agent, PNC Bank, National Association (PNC), as Documentation Agent, Commerzbank A.G. Chicago Branch (Commerzbank) and Bank of America National Trust and Savings Association (Bank of America) as Co-Agents, is hereby incorporated by reference to Exhibit 10.2 to the Registrant's Form 8-K filed March 17, 2000. |
11.1 | Statement of Computation of Ratios of Earnings to Fixed Charges. |
11.2 | Statement of Computation of Ratios of Earnings to Debt Service. |
21. | List of Subsidiaries of Registrant. |
23. | Consent of KPMG LLP. |
24. | Executed powers of attorney of certain directors. |
99.1 | Selected Quarterly Financial Information |
* Represents management contract or compensatory plan or arrangement.
The Company will furnish to any security holder, upon written request, copies of any exhibit incorporated by reference, for a fee of 15 cents per page, to cover the costs of furnishing the exhibits. Written request should include a representation that the person making the request was the beneficial owner of securities entitled to vote at the Annual Meeting of Shareholders.
(B) Reports on Form 8-K
None
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
DUKE-WEEKS REALTY CORPORATION | ||||
March 26, 2001 | By: |
/s/ Thomas L. Hefner
|
||
Thomas L. Hefner Chairman of the Board, President and Chief Executive Officer |
||||
By: |
/s/ Darell E. Zink, Jr
|
|||
Darell E. Zink, Jr. Executive Vice President and Chief Financial Officer (Principal Financial Officer) |
||||
By: |
/s/
Dennis D. Oklak
|
|||
Dennis D. Oklak Executive Vice President and Chief Administrative Officer (Principal Accounting Officer) |
||||
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
Signature
|
Date
|
Title
|
||
/s/ Thomas L. Hefner *
Thomas L. Hefner |
3/26/01
|
Chairman of the Board, President and Chief Executive Officer and Director | ||
/s/ Darell E. Zink, Jr. *
Darell E. Zink, Jr. |
3/26/01
|
Executive Vice President and Chief Financial Officer and Director | ||
/s/ Dennis D. Oklak *
Dennis D. Oklak |
3/26/01
|
Executive Vice President and Chief Administrative Officer | ||
/s/ Barrington H. Branch*
Barrington H. Branch |
3/26/01
|
Director | ||
/s/ Geoffrey Button *
Geoffrey Button |
3/26/01
|
Director | ||
/s/ William Cavanaugh, III*
William Cavanaugh, III |
3/26/01
|
Director | ||
/s/ Ngaire E. Cuneo *
Ngaire E. Cuneo |
3/26/01
|
Director | ||
/s/ Charles R. Eitel*
Charles R. Eitel |
3/26/01
|
Director | ||
/s/ Howard L. Feinsand*
Howard L. Feinsand |
3/26/01
|
Director | ||
/s/ L. Ben Lytle *
L. Ben Lytle |
3/26/01
|
Director | ||
/s/ William O. McCoy *
William O. McCoy |
3/26/01
|
Director | ||
/s/ John W. Nelley, Jr. *
John W. Nelley, Jr. |
3/26/01
|
Director | ||
/s/ James E. Rogers *
James E. Rogers |
3/26/01
|
Director | ||
/s/ Jay J. Strauss *
Jay J. Strauss * |
3/26/01
|
Director | ||
/s/ A. Ray Weeks, Jr. *
A. Ray Weeks, Jr. * |
3/26/01
|
Director | ||
* By Dennis D. Oklak, Attorney-in-Fact /s/ Dennis D. Oklak____________