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REALTY INCOME CORP - Annual Report: 2017 (Form 10-K)

Table of Contents

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

 

FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended
December 31, 2017

 

Commission File Number 1-13374

 

REALTY INCOME CORPORATION

(Exact name of registrant as specified in its charter)

 

Maryland

 

33-0580106

(State or Other Jurisdiction of

 

(IRS Employer

Incorporation or Organization)

 

Identification Number)

 

11995 El Camino Real, San Diego, California, 92130

(Address of Principal Executive Offices)

 

Registrant’s telephone number, including area code: (858) 284-5000

 

Securities registered pursuant to Section 12 (b) of the Act:

 

 

 

Name of Each Exchange

Title of Each Class

 

On Which Registered

Common Stock, $0.01 Par Value

Class F Preferred Stock, $0.01 Par Value

 

New York Stock Exchange

New York Stock Exchange

 

Securities registered pursuant to Section 12 (g) of the Act: None

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES x     NO o

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  YES o     NO x

 

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 o

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   YES x    NO o

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s 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.  x

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer x   Accelerated filer o  Non-accelerated filer o  Smaller reporting company o

 

Emerging growth company  o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  YES o  NO x

 

At June 30, 2017, the aggregate market value of the Registrant’s shares of common stock, $0.01 par value, held by non-affiliates of the Registrant was $15.1 billion based upon the last reported sale price of $55.18 per share on the New York Stock Exchange on June 30, 2017, the last business day of the Registrant’s most recently completed second fiscal quarter. The determination of affiliate status for purposes of this calculation is not necessarily a conclusive determination for other purposes.

 

At February 14, 2018, the number of shares of common stock outstanding was 284,245,504.

 

DOCUMENTS INCORPORATED BY REFERENCE

 

Part III, Items 10, 11, 12, 13, and 14 incorporate by reference certain specific portions of the definitive Proxy Statement for Realty Income Corporation’s Annual Meeting to be held on May 18, 2018, to be filed pursuant to Regulation 14A. Only those portions of the proxy statement which are specifically incorporated by reference herein shall constitute a part of this annual report.

 



Table of Contents

 

REALTY INCOME CORPORATION

 

Index to Form 10-K


 

PART I

 

Page

 

Item 1:

Business

 

 

 

 

 

 

 

The Company

2

 

 

Recent Developments

3

 

 

Dividend Policy

5

 

 

Business Philosophy and Strategy

6

 

 

Property Portfolio Information

13

 

 

Forward-Looking Statements

20

 

Item 1A:

Risk Factors

20

 

Item 1B:

Unresolved Staff Comments

32

 

Item 2:

Properties

32

 

Item 3:

Legal Proceedings

32

 

Item 4:

Mine Safety Disclosures

32

 

 

 

 

PART II

 

 

 

Item 5:

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

33

 

Item 6:

Selected Financial Data

34

 

Item 7:

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

 

 

General

35

 

 

Liquidity and Capital Resources

35

 

 

Results of Operations

42

 

 

Funds from Operations Available to Common Stockholders (FFO)

49

 

 

Adjusted Funds from Operations Available to Common Stockholders (AFFO)

49

 

 

Impact of Inflation

51

 

 

Impact of Recent Accounting Pronouncements

51

 

Item 7A:

Quantitative and Qualitative Disclosures About Market Risk

51

 

Item 8:

Financial Statements and Supplementary Data

52

 

Item 9:

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

81

 

Item 9A:

Controls and Procedures

81

 

Item 9B:

Other Information

82

 

 

 

 

PART III

 

 

 

Item 10:

Directors, Executive Officers and Corporate Governance

82

 

Item 11:

Executive Compensation

83

 

Item 12:

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

83

 

Item 13:

Certain Relationships, Related Transactions and Director Independence

83

 

Item 14:

Principal Accounting Fees and Services

83

 

 

 

 

PART IV

 

 

 

 

 

 

 

Item 15:

Exhibits and Financial Statement Schedules

84

 

 

 

 

SIGNATURES

 

90

 



Table of Contents

 

PART I

 

Item 1:         Business

 

THE COMPANY

 

Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly dividends that increase over time.  The company is structured as a real estate investment trust, or REIT, requiring it annually to distribute at least 90% of its taxable income (excluding net capital gains) in the form of dividends to its stockholders.  The monthly dividends are supported by the cash flow generated from real estate owned under long-term, net lease agreements with regional and national commercial tenants.  The company has in-house acquisition, portfolio management, asset management, real estate research, credit research, legal, finance and accounting, information technology, and capital markets capabilities.

 

Realty Income was founded in 1969, and listed on the New York Stock Exchange (NYSE: O) in 1994.  Over the past 49 years, Realty Income has been acquiring and managing freestanding commercial properties that generate rental revenue under long-term net lease agreements.  The company is a member of the S&P High Yield Dividend Aristocrats® index for having increased its dividend every year for more than 20 consecutive years.

 

At December 31, 2017, we owned a diversified portfolio:

 

·      Of 5,172 properties;

·      With an occupancy rate of 98.4%, or 5,089 properties leased and 83 properties available for lease;

·      Leased to 249 different commercial tenants doing business in 47 separate industries;

·      Located in 49 states and Puerto Rico;

·      With over 89.6 million square feet of leasable space; and

·      With an average leasable space per property of approximately 17,320 square feet; approximately 12,060 square feet per retail property and 224,340 square feet per industrial property.

 

Of the 5,172 properties in the portfolio, 5,144, or 99.5%, are single-tenant properties, and the remaining are multi-tenant properties. At December 31, 2017, of the 5,144 single-tenant properties, 5,062 were leased with a weighted average remaining lease term (excluding rights to extend a lease at the option of the tenant) of approximately 9.5 years.

 

Our 7 senior officers owned 0.1% of our outstanding common stock with a market value of $16.9 million at January 31, 2018. Our directors and 7 senior officers, as a group, owned 0.2% of our outstanding common stock with a market value of $33.4 million at January 31, 2018.

 

Our common stock is listed on the NYSE under the ticker symbol “O” with a CUSIP number of 756109-104. Our central index key number is 726728.

 

In January 2018, we had 152 employees, as compared to 146 employees in January 2017.

 

We maintain a corporate website at www.realtyincome.com. On our website we make available, free of charge, copies of our annual report on Form 10-K, quarterly reports on Form 10-Q, Form 3s, Form 4s, Form 5s, current reports on Form 8-K, and amendments to those reports, as soon as reasonably practicable after we electronically file these reports with the Securities and Exchange Commission, or SEC.  None of the information on our website is deemed to be part of this report.

 

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RECENT DEVELOPMENTS

 

Increases in Monthly Dividends to Common Stockholders

We have continued our 49-year policy of paying monthly dividends. In addition, we increased the dividend five times during 2017 and twice during 2018.  As of February 2018, we have paid 81 consecutive quarterly dividend increases and increased the dividend 95 times since our listing on the NYSE in 1994.

 

 

 

Month

 

Month

 

 Dividend

 

 Increase

 

2017 Dividend increases

 

Declared

 

Paid

 

 per share

 

 per share

 

1st increase

 

Dec 2016

 

Jan 2017

 

0.2025

 

$          0.0005

 

2nd increase

 

Jan 2017

 

Feb 2017

 

0.2105

 

$          0.0080

 

3rd increase

 

Mar 2017

 

Apr 2017

 

0.2110

 

$          0.0005

 

4th increase

 

Jun 2017

 

Jul 2017

 

0.2115

 

$          0.0005

 

5th increase

 

Sep 2017

 

Oct 2017

 

0.2120

 

$          0.0005

 

 

 

 

 

 

 

 

 

 

 

2018 Dividend increases

 

 

 

 

 

 

 

 

 

1st increase

 

Dec 2017

 

Jan 2018

 

0.2125

 

$          0.0005

 

2nd increase

 

Jan 2018

 

Feb 2018

 

0.2190

 

$          0.0065

 

 

The dividends paid per share during 2017 totaled approximately $2.527, as compared to approximately $2.392 during 2016, an increase of $0.135, or 5.6%.

 

The monthly dividend of $0.219 per share represents a current annualized dividend of $2.628 per share, and an annualized dividend yield of approximately 4.6% based on the last reported sale price of our common stock on the NYSE of $57.02 on December 31, 2017. Although we expect to continue our policy of paying monthly dividends, we cannot guarantee that we will maintain our current level of dividends, that we will continue our pattern of increasing dividends per share, or what our actual dividend yield will be in any future period.

 

Acquisitions During 2017

During 2017, we invested $1.52 billion in 303 new properties and properties under development or expansion, with an initial weighted average contractual lease rate of 6.4%. The 303 new properties and properties under development or expansion are located in 40 states, will contain approximately 7.8 million leasable square feet, and are 100% leased with a weighted average lease term of 14.4 years. The tenants occupying the new properties operate in 23 industries and the property types are 94.5% retail and 5.5% industrial, based on rental revenue.  During 2017, none of our real estate investments caused any one tenant to be 10% or more of our total assets at December 31, 2017.

 

The estimated initial weighted average contractual lease rate for a property is generally computed as estimated contractual net operating income, which, in the case of a net leased property, is equal to the aggregate base rent for the first full year of each lease, divided by the total cost of the property.  Since it is possible that a tenant could default on the payment of contractual rent, we cannot provide assurance that the actual return on the funds invested will remain at the percentages listed above.

 

In the case of a property under development or expansion, the contractual lease rate is generally fixed such that rent varies based on the actual total investment in order to provide a fixed rate of return.  When the lease does not provide for a fixed rate of return on a property under development or expansion, the estimated initial weighted average contractual lease rate is computed as follows: estimated net operating income (determined by the lease) for the first full year of each lease, divided by our projected total investment in the property, including land, construction and capitalized interest costs. Of the $1.52 billion we invested during 2017, $21.2 million was invested in 17 properties under development or expansion with an estimated initial weighted average contractual lease rate of 6.9%.  We may continue to pursue development or expansion opportunities under similar arrangements in the future.

 

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Portfolio Discussion

Leasing Results

At December 31, 2017, we had 83 properties available for lease out of 5,172 properties in our portfolio, which represents a 98.4% occupancy rate based on the number of properties in our portfolio. Since December 31, 2016, when we reported 84 properties available for lease out of 4,944 and a 98.3% occupancy rate, we:

 

·      Had 297 lease expirations;

·      Re-leased 259 properties; and

·      Sold 39 vacant properties.

 

Of the 259 properties re-leased during 2017, 235 properties were re-leased to existing tenants, nine were re-leased to new tenants without vacancy, and 15 were re-leased to new tenants after a period of vacancy.  The annual rent on these 259 leases was $43.18 million, as compared to the previous rent on these same properties of $40.92 million, which represents a rent recapture rate of 105.5% on the properties re-leased during 2017.

 

As part of our re-leasing costs, we pay leasing commissions to unrelated, third party real estate brokers consistent with the commercial real estate industry standard, and sometimes provide tenant rent concessions. We do not consider the collective impact of the leasing commissions or tenant rent concessions to be material to our financial position or results of operations.

 

At December 31, 2017, our average annualized rental revenue was approximately $13.77 per square foot on the 5,089 leased properties in our portfolio.  At December 31, 2017, we classified nine properties with a carrying amount of $6.7 million as held for sale on our balance sheet.  The expected sale of these properties does not represent a strategic shift that will have a major effect on our operations and financial results and is consistent with our existing disposition strategy to further enhance our real estate portfolio and maximize portfolio returns.

 

Investments in Existing Properties

In 2017, we capitalized costs of $12.7 million on existing properties in our portfolio, consisting of $1.6 million for re-leasing costs, $912,000 for recurring capital expenditures, and $10.2 million for non-recurring building improvements. In 2016, we capitalized costs of $16.3 million on existing properties in our portfolio, consisting of $797,000 for re-leasing costs, $679,000 for recurring capital expenditures, and $14.9 million for non-recurring building improvements.

 

The majority of our building improvements relate to roof repairs, HVAC improvements, and parking lot resurfacing and replacements. The amounts of our capital expenditures can vary significantly, depending on the rental market, tenant credit worthiness, the lease term and the willingness of tenants to pay higher rents over the terms of the leases.

 

We define recurring capital expenditures as mandatory and repetitive landlord capital expenditure obligations that have a limited useful life. We define non-recurring capital expenditures as property improvements where we invest additional capital that extend the useful life of the property.

 

Note Issuance

During the year ended December 31, 2017 we issued the following notes (dollars in millions):

 

Issuances

Date of
Issuance

Maturity date

Principal
amount
issued

Public
offering price

Effective yield to
maturity

4.125% notes

March 2017

October 2026 (1)

$          400       

102.98%

    3.75%

4.650% notes

March 2017

March 2047

          300     

  99.97%

    4.65%

3.250% notes

December 2017

October 2022 (2)

          500     

101.77%

    2.84%

3.650% notes

December 2017

January 2028

          550     

  99.78%

    3.68%

4.650% notes

December 2017

March 2047 (3)

          250     

105.43%

    4.32%

 

 

(1)

This issuance constitutes a further issuance of, and formed a single series with the senior notes due 2026 issued in September 2014.

 

(2)

This issuance constituted a further issuance of, and formed a single series with the senior notes due 2022 issued in October 2012.

 

(3)

This issuance constituted a further issuance of, and formed a single series with the senior notes due 2047 issued in March 2017.

 

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The net proceeds of $1.3 billion from the December 2017 note offerings were used to redeem all $550.0 million aggregate principal amount of our outstanding 2019 notes, including accrued and unpaid interest, and to repay borrowings outstanding under our $2.0 billion revolving credit facility and, to the extent not used for those purposes, to fund the development and acquisitions of additional properties and for other general corporate purposes. The net proceeds of $705.2 million from the March 2017 note offerings were used to repay borrowings outstanding under our credit facility to fund investment opportunities and for other general corporate purposes.

 

Capital Raising

During 2017, Realty Income issued 23,957,741 common shares at a weighted average price of $59.54, receiving gross proceeds of $1.4 billion.

 

Net Income Available to Common Stockholders

Net income available to common stockholders was $301.5 million in 2017, as compared to $288.5 million in 2016, an increase of $13.0 million. On a diluted per common share basis, net income was $1.10 in 2017, as compared to $1.13 in 2016, a decrease of $0.03, or 2.7%.

 

The calculation to determine net income available to common stockholders includes impairments, gains from the sale of properties and/or fair value adjustments on our interest rate swaps. These items vary from period to period based on the timing of property sales and the interest rate environment, and can significantly impact net income available to common stockholders.

 

Funds from Operations Available to Common Stockholders (FFO)

In 2017, our FFO increased by $37.3 million, or 5.1%, to $772.7 million, as compared to $735.4 million in 2016.  On a diluted per common share basis, FFO was $2.82 in 2017, as compared to $2.88 in 2016, a decrease of $0.06, or 2.1%.

 

Net income and funds from operations available to common stockholders per share in 2017 were impacted by a loss of $42.4 million, or $0.15 per share, on extinguishment of debt upon the early redemption on all $550.0 million of our outstanding 6.75% notes due August 2019 during December 2017. Net income and funds from operations available to common stockholders were also impacted by a non-cash redemption charge of $13.4 million, or $0.05 per share, upon the redemption of the 6.625% Monthly Income Class F Preferred Stock that was redeemed in April 2017. This charge is based on the excess of redemption value over the carrying value of the 6.625% Monthly Income Class F Preferred Stock that represents the original issuance cost that we paid in 2012.

 

Adjusted Funds from Operations Available to Common Stockholders (AFFO)

In 2017, our AFFO increased by $102.2 million, or 13.9%, to $838.6 million, as compared to $736.4 million in 2016. On a diluted per common share basis, AFFO was $3.06 in 2017, as compared to $2.88 in 2016, an increase of $0.18, or 6.3%.

 

See our discussion of FFO and AFFO (which are not financial measures under generally accepted accounting principles, or GAAP), later in the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in this annual report, which includes a reconciliation of net income available to common stockholders to FFO and AFFO.

 

DIVIDEND POLICY

 

Distributions are paid monthly to holders of shares of our common stock.

 

Distributions are paid monthly to the limited partners holding common units of Tau Operating Partnership, L.P. and Realty Income, L.P., each on a per unit basis that is generally equal to the amount paid per share to our common stockholders.

 

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In order to maintain our status as a REIT for federal income tax purposes, we generally are required to distribute dividends to our stockholders aggregating annually at least 90% of our taxable income (excluding net capital gains), and we are subject to income tax to the extent we distribute less than 100% of our taxable income (including net capital gains). In 2017, our cash distributions to preferred and common stockholders totaled $695.5 million, or approximately 132.9% of our estimated taxable income of $523.5 million. Our estimated taxable income reflects non-cash deductions for depreciation and amortization. Our estimated taxable income is presented to show our compliance with REIT dividend requirements and is not a measure of our liquidity or operating performance.  We intend to continue to make distributions to our stockholders that are sufficient to meet this dividend requirement and that will reduce or eliminate our exposure to income taxes. Furthermore, we believe our funds from operations are sufficient to support our current level of cash distributions to our stockholders. Our cash distributions to common stockholders in 2017 totaled $689.3 million, representing 82.2% of our adjusted funds from operations available to common stockholders of $838.6 million. In comparison, our 2016 cash distributions to common stockholders totaled $610.5 million, representing 82.9% of our adjusted funds from operations available to common stockholders of $736.4 million.

 

Future distributions will be at the discretion of our Board of Directors and will depend on, among other things, our results of operations, FFO, AFFO, cash flow from operations, financial condition, capital requirements, the annual distribution requirements under the REIT provisions of the Internal Revenue Code of 1986, as amended, or the Code, our debt service requirements, and any other factors the Board of Directors may deem relevant. In addition, our credit facility contains financial covenants that could limit the amount of distributions payable by us in the event of a default, and which prohibit the payment of distributions on the common or preferred stock in the event that we fail to pay when due (subject to any applicable grace period) any principal or interest on borrowings under our credit facility.

 

Distributions of our current and accumulated earnings and profits for federal income tax purposes generally will be taxable to stockholders as ordinary income, except to the extent that we recognize capital gains and declare a capital gains dividend, or that such amounts constitute “qualified dividend income” subject to a reduced rate of tax. The maximum tax rate of non-corporate taxpayers for “qualified dividend income” is generally 20%. In general, dividends payable by REITs are not eligible for the reduced tax rate on qualified dividend income, except to the extent that certain holding requirements have been met with respect to the REIT’s stock and the REIT’s dividends are attributable to dividends received from certain taxable corporations (such as our taxable REIT subsidiaries) or to income that was subject to tax at the corporate or REIT level (for example, if we distribute taxable income that we retained and paid tax on in the prior taxable year). However, non-corporate stockholders, including individuals, generally may deduct 20% of dividends from a REIT, other than capital gain dividends and dividends treated as qualified dividend income, for taxable years beginning after December 31, 2017 and before January 1, 2026.

 

Distributions in excess of earnings and profits generally will first be treated as a non-taxable reduction in the stockholders’ basis in their stock, but not below zero. Distributions in excess of that basis generally will be taxable as a capital gain to stockholders who hold their shares as a capital asset. Approximately 21.7% of the distributions to our common stockholders, made or deemed to have been made in 2017, were classified as a return of capital for federal income tax purposes. We estimate that in 2018, between 15% and 25% of the distributions may be classified as a return of capital.

 

BUSINESS PHILOSOPHY AND STRATEGY

 

We believe that owning an actively managed, diversified portfolio of primarily single-tenant commercial properties under long-term, net lease agreements produces consistent and predictable income. A net lease typically requires the tenant to be responsible for monthly rent and certain property operating expenses including property taxes, insurance, and maintenance. In addition, tenants of our properties typically pay rent increases based on: (1) increases in the consumer price index (typically subject to ceilings), (2) fixed increases, or (3) additional rent calculated as a percentage of the tenants’ gross sales above a specified level. We believe that a portfolio of properties under long-term, net lease agreements generally produces a more predictable income stream than many other types of real estate portfolios, while continuing to offer the potential for growth in rental income.

 

Diversification is also a key component of our investment philosophy.  We believe that diversification of the portfolio by tenant, industry, geography, and, to a certain extent, property type leads to more consistent and predictable income for our stockholders by reducing vulnerability that can come with any single concentration.  Our investment activities have led to a diversified property portfolio that, as of December 31, 2017, consisted of

 

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5,172 properties located in 49 states and Puerto Rico, leased to 249 different commercial tenants doing business in 47 industries. No single industry represented in our property portfolio accounted for more than 10.6% of our rental revenue for the quarter ended December 31, 2017.

 

Investment Strategy

Our investment strategy is to acquire real estate leased to regional and national tenants. When identifying new properties for investment, we generally focus on acquiring high-quality real estate that tenants consider important to the successful operation of their business. We generally seek to acquire real estate that has the following characteristics:

 

·      Properties that are freestanding, commercially-zoned with a single tenant;

·      Properties that are in significant markets or strategic locations critical to generating revenue for regional and national tenants (i.e. they need the property in which they operate in order to conduct their business);

·      Properties that we deem to be profitable for the tenants and/or can generally be characterized as important to the successful operations of the company’s business;

·      Properties that are located within attractive demographic areas relative to the business of our tenants, generally fungible, and have good visibility and easy access to major thoroughfares;

·      Properties with real estate valuations that approximate replacement costs;

·      Properties with rental or lease payments that approximate market rents; and

·      Properties that can be purchased with the simultaneous execution or assumption of long-term, net lease agreements, offering both current income and the potential for future rent increases.

 

We seek to invest in industries in which several, well-organized, regional and national tenants are capturing market share through the selection of prime real estate locations supported by superior service, quality control, economies of scale, consumer branding, and advertising. In addition, we frequently acquire large portfolios of single-tenant properties net leased to different tenants operating in a variety of industries.  We have an internal team dedicated to sourcing such opportunities, often using our relationships with various tenants, owners/developers, brokers and advisers to uncover and secure transactions.  We also undertake thorough research and analysis to identify what we consider to be appropriate property locations, tenants, and industries for investment. This research expertise is instrumental to uncovering net lease opportunities in markets where we believe we can add value.

 

In selecting potential investments, we look for tenants with the following attributes:

 

·      Tenants with reliable and sustainable cash flow;

·      Tenants with revenue and cash flow from multiple sources;

·      Tenants that are willing to sign a long-term lease (10 or more years); and

·      Tenants that are large owners and users of real estate.

 

From a retail perspective, our investment strategy is to target tenants that have a service, non-discretionary, and/or low-price-point component to their business.  We believe these characteristics better position tenants to operate in a variety of economic conditions and to compete more effectively with internet retailers.  As a result of the execution of this strategy, over 90% of our annualized retail rental revenue in 2017 is derived from tenants with a service, non-discretionary, and/or low price point component to their business.  From a non-retail perspective, we target industrial properties leased to Fortune 1000, primarily investment grade rated companies.  We believe these characteristics enhance the stability of the rental revenue generated from these properties.

 

After applying this investment strategy, we pursue those transactions where we can achieve an attractive investment spread over our cost of capital and favorable risk-adjusted returns.

 

Underwriting Strategy

In order to be considered for acquisition, properties must meet stringent underwriting requirements. We have established a four-part analysis to examine each potential investment based on:

 

·      The aforementioned overall real estate characteristics, including demographics, replacement cost and comparative rental rates;

·      Industry, tenant (including credit profile), and market conditions;

·      Store profitability for retail locations if profitability data is available; and

·      The importance of the real estate location to the operations of the tenants’ business.

 

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We believe the principal financial obligations for most of our tenants typically include their bank and other debt, payment obligations to suppliers, and real estate lease obligations. Because we typically own the land and building in which a tenant conducts its business or which are critical to the tenant’s ability to generate revenue, we believe the risk of default on a tenant’s lease obligation is less than the tenant’s unsecured general obligations. It has been our experience that tenants must retain their profitable and critical locations in order to survive. Therefore, in the event of reorganization, they are less likely to reject a lease of a profitable or critical location because this would terminate their right to use the property.

 

Thus, as the property owner, we believe that we will fare better than unsecured creditors of the same tenant in the event of reorganization. If a property is rejected by the tenant during reorganization, we own the property and can either lease it to a new tenant or sell the property. In addition, we believe that the risk of default on real estate leases can be further mitigated by monitoring the performance of the tenants’ individual locations and considering whether to proactively sell locations that meet our criteria for disposition.

 

Prior to entering into any transaction, our research department conducts a review of a tenant’s credit quality.  The information reviewed may include reports and filings, including any public credit ratings, financial statements, debt and equity analyst reports, and reviews of corporate credit spreads, stock prices, market capitalization, and other financial metrics.  We conduct additional due diligence, including additional financial reviews of the tenant and a more comprehensive review of the business segment and industry in which the tenant operates.  We continue to monitor our tenants’ credit quality on an ongoing basis by reviewing the available information previously discussed, and providing summaries of these findings to management.  Approximately 46% of our annualized rental revenue comes from properties leased to investment grade rated companies or their subsidiaries.  At December 31, 2017, our top 20 tenants represented approximately 54% of our annualized revenue and ten of these tenants have investment grade credit ratings or are subsidiaries of investment grade companies.

 

Portfolio and Asset Management Strategy

In addition to pursuing new properties for investment, we seek to increase earnings and distributions to stockholders through active portfolio and asset management.

 

Generally, our portfolio and asset management efforts seek to achieve:

 

·      Rent increases at the expiration of existing leases, when market conditions permit;

·      Optimum exposure to certain tenants, industries, and markets through re-leasing vacant properties and selectively selling properties;

·      Maximum asset-level returns on properties that are re-leased or sold;

·      Additional value creation from the existing portfolio by enhancing individual properties, pursuing alternative uses, and deriving ancillary revenue; and

·      Investment opportunities in new asset classes for the portfolio.

 

We continually monitor our portfolio for any changes that could affect the performance of our tenants, our tenants’ industries, and the real estate locations in which we have invested.  We also regularly analyze our portfolio with a view towards optimizing its returns and enhancing its overall credit quality.  Our active portfolio and asset management strategy pursues asset sales when we believe the reinvestment of the sale proceeds will:

 

·      Generate higher returns;

·      Enhance the credit quality of our real estate portfolio;

·      Extend our average remaining lease term; and/or

·      Strategically decrease tenant, industry, or geographic concentration.

 

At December 31, 2017, we classified nine properties with a carrying amount of $6.7 million as held for sale on our balance sheet. For 2018, we intend to continue our active disposition efforts to further enhance our real estate portfolio and anticipate $75 to $100 million in property sales.  We plan to invest these proceeds into new property acquisitions, if there are attractive opportunities available. However, we cannot guarantee that we will sell properties during 2018 at our estimated values or be able to invest the property sale proceeds in new properties.

 

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The active management of the portfolio is an essential component of our long-term strategy of maintaining high occupancy. Since 1970, our occupancy rate at the end of each year has never been below 96%.  However, we cannot assure you that our future occupancy levels will continue to equal or exceed 96%.

 

Capital Philosophy

Historically, we have met our long-term capital needs by issuing common stock, preferred stock and long-term unsecured notes and bonds. Over the long term, we believe that common stock should be the majority of our capital structure; however, we may issue additional preferred stock or debt securities. We may issue common stock when we believe that our share price is at a level that allows for the proceeds of any offering to be accretively invested into additional properties. In addition, we may issue common stock to permanently finance properties that were initially financed by our credit facility or debt securities. However, we cannot assure you that we will have access to the capital markets at all times and at terms that are acceptable to us.

 

Our primary cash obligations, for the current year and subsequent years, are included in the “Table of Obligations,” which is presented later in this section. We expect to fund our operating expenses and other short-term liquidity requirements, including property acquisitions and development costs, payment of principal and interest on our outstanding indebtedness, property improvements, re-leasing costs and cash distributions to common and preferred stockholders, primarily through cash provided by operating activities, borrowing on our credit facility and periodically through public securities offerings.

 

Conservative Capital Structure

We believe that our stockholders are best served by a conservative capital structure. Therefore, we seek to maintain a conservative debt level on our balance sheet and solid interest and fixed charge coverage ratios. At December 31, 2017, our total outstanding borrowings of senior unsecured notes and bonds, term loans, mortgages payable and credit facility borrowings were $6.13 billion, or approximately 27.4% of our total market capitalization of $22.36 billion.

 

We define our total market capitalization at December 31, 2017 as the sum of:

 

·      Shares of our common stock outstanding of 284,213,685, plus total common units outstanding of 405,204, multiplied by the last reported sales price of our common stock on the NYSE of $57.02 per share on December 31, 2017, or $16.23 billion;

·      Outstanding borrowings of $110.0 million on our credit facility;

·      Outstanding mortgages payable of $320.3 million, excluding net mortgage premiums of $5.9 million and deferred financing costs of $236,000;

·      Outstanding borrowings of $445.9 million on our term loans, excluding deferred financing costs of $580,000; and

·      Outstanding senior unsecured notes and bonds of $5.25 billion, excluding unamortized net original issuance premiums of $14.3 million and deferred financing costs of $34.1 million.

 

Impact of Real Estate and Credit Markets

In the commercial real estate market, property prices generally continue to fluctuate. Likewise, during certain periods, the U.S. credit markets have experienced significant price volatility, dislocations, and liquidity disruptions, which may impact our access to and cost of capital. We continually monitor the commercial real estate and U.S. credit markets carefully and, if required, will make decisions to adjust our business strategy accordingly.

 

Universal Shelf Registration

In December 2015, we filed a shelf registration statement with the SEC, which is effective for a term of three years and will expire in December 2018. In accordance with SEC rules, the amount of securities to be issued pursuant to this shelf registration statement was not specified when it was filed and there is no specific dollar limit. The securities covered by this registration statement include (1) common stock, (2) preferred stock, (3) debt securities, (4) depositary shares representing fractional interests in shares of preferred stock, (5) warrants to purchase debt securities, common stock, preferred stock, or depositary shares, and (6) any combination of these securities. We may periodically offer one or more of these securities in amounts, prices and on terms to be announced when and if these securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of any offering.

 

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$2.0 Billion Revolving Credit Facility

We have a $2.0 billion unsecured revolving credit facility, or our credit facility, with an initial term that expires in June 2019 and includes, at our option, two six-month extensions. Our credit facility has a $1.0 billion accordion expansion option.  Under our credit facility, our investment grade credit ratings as of December 31, 2017 provide for financing at the London Interbank Offered Rate, commonly referred to as LIBOR, plus 0.85%, with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.975% over LIBOR. The borrowing rate is subject to an interest rate floor and may change if our investment grade credit ratings were to change. We also have other interest rate options available to us under our credit facility. Our credit facility is unsecured and, accordingly, we have not pledged any assets as collateral for this obligation.

 

At December 31, 2017, we had a borrowing capacity of $1.89 billion available on our credit facility and an outstanding balance of $110.0 million.  The weighted average interest rate on borrowings outstanding under our credit facility, at December 31, 2017, was 4.5% per annum.  We must comply with various financial and other covenants in our credit facility.  At December 31, 2017, we remain in compliance with these covenants. We expect to use our credit facility to acquire additional properties and for other general corporate purposes. Any additional borrowings will increase our exposure to interest rate risk.

 

We generally use our credit facility for the short-term financing of new property acquisitions. Thereafter, we generally seek to refinance those borrowings with the net proceeds of long-term or permanent financing, which may include the issuance of common stock, preferred stock or debt securities. We cannot assure you, however, that we will be able to obtain any such refinancing, or that market conditions prevailing at the time of the refinancing will enable us to issue equity or debt securities at acceptable terms. We regularly review our credit facility and may seek to extend, renew or replace our credit facility, to the extent we deem appropriate.

 

Cash Reserves

We are organized to operate as an equity REIT that acquires and leases properties and distributes to stockholders, in the form of monthly cash distributions, a substantial portion of our net cash flow generated from leases on our properties.  We intend to retain an appropriate amount of cash as working capital.  At December 31, 2017, we had cash and cash equivalents totaling $6.9 million.

 

We believe that our cash and cash equivalents on hand, cash provided from operating activities, and borrowing capacity is sufficient to meet our liquidity needs for the next twelve months.  We intend, however, to use permanent or long-term capital to fund property acquisitions and to repay future borrowings under our credit facility.

 

Credit Agency Ratings

The borrowing interest rates under our credit facility are based upon our ratings assigned by credit rating agencies. As of December 31, 2017, we were assigned the following investment grade corporate credit ratings on our senior unsecured notes and bonds:  Moody’s Investors Service has assigned a rating of A3 with a “stable” outlook, Standard & Poor’s Ratings Group has assigned a rating of BBB+ with a “positive” outlook, and Fitch Ratings has assigned a rating of BBB+ with a “stable” outlook.

 

Based on our ratings as of December 31, 2017, the facility interest rate as of December 31, 2017 was LIBOR, plus 0.85% with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.975% over LIBOR.  Our credit facility provides that the interest rate can range between: (i) LIBOR, plus 1.55% if our credit rating is lower than BBB-/Baa3 or unrated and (ii) LIBOR, plus 0.85% if our credit rating is A-/A3 or higher.  In addition, our credit facility provides for a facility commitment fee based on our credit ratings, which range from: (i) 0.30% for a rating lower than BBB-/Baa3 or unrated, and (ii) 0.125% for a credit rating of A-/A3 or higher.

 

We also issue senior debt securities from time to time and our credit ratings can impact the interest rates charged in those transactions.  If our credit ratings or ratings outlook change, our cost to obtain debt financing could increase or decrease. The credit ratings assigned to us could change based upon, among other things, our results of operations and financial condition. These ratings are subject to ongoing evaluation by credit rating agencies and we cannot assure you that our ratings will not be changed or withdrawn by a rating agency in the future if, in its judgment, circumstances warrant. Moreover, a rating is not a recommendation to buy, sell or hold our debt securities, preferred stock or common stock.

 

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Term Loans

In December 2017, in conjunction with the acquisition of a portfolio of properties, we entered into a $125.9 million promissory note, maturing in January 2018. Borrowings under this note bore interest at 1.52%. This note was paid in full at maturity.

 

In June 2015, in conjunction with entering into our credit facility, we entered into a $250 million senior unsecured term loan maturing on June 30, 2020.  Borrowing under this term loan bears interest at the current one-month LIBOR, plus 0.90%.  In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.62%.

 

In January 2013, in conjunction with our acquisition of American Realty Capital Trust, Inc., or ARCT, we entered into a $70 million senior unsecured term loan with an initial maturity date of January 2018.  Borrowing under this term loan bears interest at the current one-month LIBOR, plus 1.10%.  In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.05%. In January 2018, we entered into a six-month extension of this loan, which now matures in July 2018 and includes, at our option, two additional six-month extensions. Borrowing during the extension periods bear interest at the current one-month LIBOR, plus 0.90%. The interest rate swap terminated upon the initial maturity in January 2018.

 

Mortgage Debt

As of December 31, 2017, we had $320.3 million of mortgages payable, all of which were assumed in connection with our property acquisitions.  Additionally, at December 31, 2017, we had net premiums totaling $5.9 million on these mortgages and deferred financing costs of $236,000.  We expect to pay off the mortgages payable as soon as prepayment penalties have declined to a level that would make it economically feasible to do so.  During 2017, we made $139.7 million of principal payments, including the repayment of eight mortgages in full for $133.5 million.

 

Notes Outstanding

As of December 31, 2017, we had $5.25 billion of senior unsecured note and bond obligations, excluding unamortized net original issuance premiums of $14.3 million and deferred financing costs of $34.1 million.  All of our outstanding notes and bonds have fixed interest rates. Interest on all of our senior note and bond obligations is paid semiannually.

 

No Unconsolidated Investments

We have no unconsolidated investments, nor do we engage in trading activities involving energy or commodity contracts.

 

Corporate Responsibility

We are committed to providing an engaging, diverse, and safe work environment for our employees, upholding our corporate responsibilities as a public company operating for the benefit of our stockholders, and operating our company in an environmentally conscious manner. As The Monthly Dividend Company®, our mission is to provide our stockholders with monthly dividends that increase over time. How we manage and use the physical, financial and talent resources that enable us to achieve this mission, demonstrates our commitment to corporate responsibility.

 

Social Responsibility and Ethics. An extension of our mission is our commitment to being socially responsible and conducting our business according to the highest ethical standards. Our employees are awarded compensation that is in line with those of our peers and competitors, including generous healthcare benefits for employees and their families, participation in a 401(k) plan with a matching contribution by Realty Income, competitive paid time-off benefits, and an infant-at-work program for new parents. We also have a long-standing commitment to equal employment opportunity and adhere to all Equal Employer Opportunity Policy guidelines. Our employees have access to members of our Board of Directors to report anonymously, if desired, any suspicion of misconduct by any member of our senior management or executive team. We apply the principles of full and fair disclosure in all of our business dealings, and we encourage all of our directors, officers, and other employees to conduct our business in accordance with the highest standards of moral and ethical behavior, in each case, as outlined in our Corporate Code of Business Ethics. We are also committed to dealing fairly with all of our customers, suppliers, and competitors.

 

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Realty Income and its employees have taken an active role in supporting communities through civic involvement with charitable organizations and corporate donations. Focusing our impact on our social responsibility, our non-profit partnerships have resulted in approximately 725 employee volunteer hours during 2017, principally through our partnership with San Diego Habitat for Humanity. Our employees have also provided educational services to at-risk youth, funding to local foodbanks, and toys for under-served children. Our dedication to being a responsible corporate citizen has a direct and positive impact in the communities in which we operate and contributes to the strength of our reputation and our financial performance.

 

Corporate Governance. We believe that a company’s reputation for integrity and serving its stockholders responsibly is of utmost importance. We are committed to managing the company for the benefit of our stockholders and are focused on maintaining good corporate governance.  Practices that illustrate this commitment include:

 

·      Our Board of Directors is comprised of eight directors, seven of which are independent, non-employee directors;

·      Our Board of Directors is elected on an annual basis;

·      We employ a majority vote standard for uncontested elections;

·      Our Compensation Committee of the Board of Directors works with independent consultants in conducting annual compensation reviews for our key executives, and compensates each individual primarily based on reaching certain performance metrics that determine the success of our company; and

·      We adhere to all other corporate governance principles outlined in our “Corporate Governance Guidelines” document on our website.

 

Environmental Practices.  Our focus on environmental conservationism is demonstrated by how we manage our day-to-day activities at our corporate headquarters. At our headquarters, we promote energy efficiency and encourage practices such as powering down office equipment at the end of the day, implementing file-sharing technology and automatic “duplex mode” to limit paper use, adopting an electronic approval system, carpooling to our headquarters, and recycling paper waste. In 2017, we sent more than 32,700 pounds of paper to our off-site partner for recycling.

 

With respect to other recycling and reuse practices, we encourage the use of recycled products and the recycling of materials used in our operations. Cell phones, wireless devices and office equipment are recycled or donated whenever possible.

 

In addition, our headquarters building was retrofitted according to the State of California energy efficiency standards (specifically following California Green Building Standards Code and Title 24 of the California Code of Regulations), with features such as an automatic lighting control system with light-harvesting technology, a Building Management System that monitors and controls energy use, an energy-efficient PVC roof and heating and cooling system, LED lighting, and drought-tolerant landscaping with recycled materials.

 

In 2017, we formed an internal “Green Team” whose mission is to encourage environmentally-friendly choices to further reduce our environmental impact as a company. To achieve this mission, the Green Team creates and executes strategies to promote sustainability internally and tracks the progress of their efforts.

 

The properties in our portfolio are primarily net leased to our tenants, and each tenant is ultimately responsible for maintaining the buildings including controlling their energy usage and the implementation of any environmentally sustainable practices at each location. We actively communicate and work with our tenants to promote environmental responsibility at the properties we own and to reiterate the importance of energy efficient facilities.

 

Our Asset Management team has engaged with renewable energy development companies to identify assets that would maximize energy efficiency initiatives throughout our property portfolio. These initiatives include solar energy arrays, battery storage, and charging stations. In addition, we continue to explore regional opportunities with our tenants in order to qualify for city and county renewable energy or energy efficiency programs.

 

More information on our social responsibility and environmental practices can be found on our company’s website at http://www.realtyincome.com/about-realty-income/corporate-responsibility. None of the information on our website is deemed to be a part of this report.

 

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PROPERTY PORTFOLIO INFORMATION

 

At December 31, 2017, we owned a diversified portfolio:

 

·      Of 5,172 properties;

·      With an occupancy rate of 98.4%, or 5,089 properties leased and 83 properties available for lease;

·      Leased to 249 different commercial tenants doing business in 47 separate industries;

·      Located in 49 states and Puerto Rico;

·      With over 89.6 million square feet of leasable space; and

·      With an average leasable space per property of approximately 17,320 square feet; approximately 12,060 square feet per retail property and 224,340 square feet per industrial property.

 

At December 31, 2017, of our 5,172 properties, 5,089 were leased under net lease agreements. A net lease typically requires the tenant to be responsible for monthly rent and certain property operating expenses including property taxes, insurance, and maintenance. In addition, our tenants are typically subject to future rent increases based on increases in the consumer price index (typically subject to ceilings), additional rent calculated as a percentage of the tenants’ gross sales above a specified level, or fixed increases.

 

At December 31, 2017, our 249 commercial tenants, which we define as retailers with over 50 locations and non-retailers with over $500 million in annual revenues, represented approximately 95% of our annualized revenue.  We had 269 additional tenants, representing approximately 5% of our annualized revenue at December 31, 2017, which brings our total tenant count to 518 tenants.

 

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Industry Diversification

The following table sets forth certain information regarding our property portfolio classified according to the business of the respective tenants, expressed as a percentage of our total rental revenue:

 

 

 

 

 

Percentage of  Rental Revenue(1)

 

 

 

 

For the

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

For the Years Ended

 

 

 

 

December 31,

 

 

Dec 31,

 

Dec 31,

 

Dec 31,

 

Dec 31,

 

Dec 31,

 

 

 

 

2017

 

 

2017  

 

2016  

 

2015  

 

2014  

 

2013  

 

 

Retail industries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Apparel stores

 

1.5%

 

 

1.6%

 

1.9%

 

2.0%

 

2.0%

 

1.9%

 

 

Automotive collision services

 

1.0

 

 

1.0

 

1.0

 

1.0

 

0.8

 

0.8

 

 

Automotive parts

 

1.4

 

 

1.3

 

1.3

 

1.4

 

1.3

 

1.2

 

 

Automotive service

 

2.4

 

 

2.2

 

1.9

 

1.9

 

1.8

 

2.1

 

 

Automotive tire services

 

2.5

 

 

2.6

 

2.7

 

2.9

 

3.2

 

3.6

 

 

Book stores

 

*

 

 

*

 

*

 

*

 

*

 

*

 

 

Child care

 

1.8

 

 

1.8

 

1.9

 

2.0

 

2.2

 

2.8

 

 

Consumer electronics

 

0.4

 

 

0.3

 

0.3

 

0.3

 

0.3

 

0.3

 

 

Convenience stores

 

9.4

 

 

9.6

 

8.7

 

9.2

 

10.1

 

11.2

 

 

Crafts and novelties

 

0.5

 

 

0.5

 

0.5

 

0.5

 

0.5

 

0.5

 

 

Dollar stores

 

7.7

 

 

7.9

 

8.6

 

8.9

 

9.6

 

6.2

 

 

Drug stores

 

10.6

 

 

10.9

 

11.2

 

10.6

 

9.5

 

8.1

 

 

Education

 

0.3

 

 

0.3

 

0.3

 

0.3

 

0.4

 

0.4

 

 

Entertainment

 

0.5

 

 

0.4

 

0.5

 

0.5

 

0.5

 

0.6

 

 

Equipment services

 

*

 

 

*

 

0.1

 

0.1

 

0.1

 

0.1

 

 

Financial services

 

2.1

 

 

2.1

 

1.4

 

1.3

 

1.4

 

1.5

 

 

General merchandise

 

1.9

 

 

1.8

 

1.5

 

1.4

 

1.2

 

1.1

 

 

Grocery stores

 

4.5

 

 

4.4

 

3.1

 

3.0

 

3.0

 

2.9

 

 

Health and fitness

 

7.5

 

 

7.5

 

8.1

 

7.7

 

7.0

 

6.3

 

 

Health care

 

0.8

 

 

0.8

 

0.9

 

1.0

 

1.1

 

1.1

 

 

Home furnishings

 

0.8

 

 

0.8

 

0.7

 

0.7

 

0.7

 

0.9

 

 

Home improvement

 

2.8

 

 

2.6

 

2.5

 

2.4

 

1.7

 

1.6

 

 

Jewelry

 

0.1

 

 

0.1

 

0.1

 

0.1

 

0.1

 

0.1

 

 

Motor vehicle dealerships

 

1.9

 

 

2.1

 

1.9

 

1.6

 

1.6

 

1.6

 

 

Office supplies

 

0.2

 

 

0.2

 

0.3

 

0.3

 

0.4

 

0.5

 

 

Pet supplies and services

 

0.6

 

 

0.6

 

0.6

 

0.7

 

0.7

 

0.8

 

 

Restaurants - casual dining

 

3.7

 

 

3.8

 

3.9

 

3.8

 

4.3

 

5.1

 

 

Restaurants - quick service

 

5.5

 

 

5.1

 

4.9

 

4.2

 

3.7

 

4.4

 

 

Shoe stores

 

0.4

 

 

0.4

 

0.5

 

0.5

 

0.1

 

0.1

 

 

Sporting goods

 

1.1

 

 

1.4

 

1.6

 

1.8

 

1.6

 

1.7

 

 

Telecommunications

 

*

 

 

*

 

*

 

-

 

-

 

-

 

 

Theaters

 

5.7

 

 

5.0

 

4.9

 

5.1

 

5.3

 

6.2

 

 

Transportation services

 

0.1

 

 

0.1

 

0.1

 

0.1

 

0.1

 

0.1

 

 

Wholesale clubs

 

3.2

 

 

3.3

 

3.6

 

3.8

 

4.1

 

3.9

 

 

Other

 

*

 

 

*

 

*

 

*

 

*

 

0.1

 

 

Retail industries

 

82.9%

 

 

82.5%

 

81.5%

 

81.1%

 

80.4%

 

79.8%

 

 

 

*

Less than 0.1%

 

(1)

Includes rental revenue for all properties owned at the end of each period presented, including revenue from properties reclassified as discontinued operations.

 

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Industry Diversification (continued)

 

 

 

 

Percentage of  Rental Revenue(1)

 

 

 

 

For the

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

For the Years Ended

 

 

 

 

December 31,

 

 

Dec 31,

 

Dec 31,

 

Dec 31,

 

Dec 31,

 

Dec 31,

 

 

 

 

2017

 

 

2017  

 

2016  

 

2015  

 

2014  

 

2013  

 

 

Non-retail industries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

0.9%

 

 

0.9%

 

1.0%

 

1.1%

 

1.2%

 

1.2%

 

 

Beverages

 

2.6

 

 

2.7

 

2.6

 

2.7

 

2.8

 

3.3

 

 

Consumer appliances

 

0.5

 

 

0.5

 

0.5

 

0.6

 

0.5

 

0.6

 

 

Consumer goods

 

0.7

 

 

0.8

 

0.9

 

0.9

 

0.9

 

1.0

 

 

Crafts and novelties

 

0.1

 

 

0.1

 

0.1

 

0.1

 

0.1

 

0.1

 

 

Diversified industrial

 

0.8

 

 

0.9

 

0.9

 

0.8

 

0.5

 

0.2

 

 

Electric utilities

 

0.1

 

 

0.1

 

0.1

 

0.1

 

0.1

 

*

 

 

Equipment services

 

0.4

 

 

0.4

 

0.5

 

0.4

 

0.5

 

0.4

 

 

Financial services

 

0.3

 

 

0.3

 

0.4

 

0.4

 

0.4

 

0.5

 

 

Food processing

 

0.6

 

 

0.6

 

1.1

 

1.2

 

1.4

 

1.5

 

 

General merchandise

 

0.2

 

 

0.2

 

0.3

 

0.3

 

0.3

 

-

 

 

Government services

 

0.9

 

 

1.0

 

1.1

 

1.2

 

1.3

 

1.4

 

 

Health care

 

0.5

 

 

0.6

 

0.6

 

0.7

 

0.7

 

0.8

 

 

Home furnishings

 

0.1

 

 

0.1

 

0.1

 

0.2

 

0.2

 

0.2

 

 

Home improvement

 

0.1

 

 

*

 

-

 

-

 

-

 

-

 

 

Insurance

 

0.1

 

 

0.1

 

0.1

 

0.1

 

0.1

 

0.1

 

 

Machinery

 

0.1

 

 

0.1

 

0.1

 

0.1

 

0.2

 

0.2

 

 

Other manufacturing

 

0.8

 

 

0.8

 

0.8

 

0.7

 

0.7

 

0.6

 

 

Packaging

 

1.1

 

 

1.0

 

0.8

 

0.8

 

0.8

 

0.9

 

 

Paper

 

0.1

 

 

0.1

 

0.1

 

0.1

 

0.1

 

0.2

 

 

Shoe stores

 

0.2

 

 

0.2

 

0.2

 

0.2

 

0.8

 

0.9

 

 

Telecommunications

 

0.6

 

 

0.6

 

0.6

 

0.7

 

0.7

 

0.7

 

 

Transportation services

 

5.2

 

 

5.3

 

5.4

 

5.3

 

5.1

 

5.3

 

 

Other

 

0.1

 

 

0.1

 

0.2

 

0.2

 

0.2

 

0.1

 

 

Non-retail industries

 

17.1%

 

 

17.5%

 

18.5%

 

18.9%

 

19.6%

 

20.2%

 

 

Totals

 

100.0%

 

 

100.0%

 

100.0%

 

100.0%

 

100.0%

 

100.0%

 

 

 

*

Less than 0.1%

 

(1)

Includes rental revenue for all properties owned at the end of each period presented, including revenue from properties reclassified as discontinued operations.

 

-15-



Table of Contents

 

Property Type Composition

The following table sets forth certain property type information regarding our property portfolio as of December 31, 2017 (dollars in thousands):

 

 

 

 

 

Approximate

 

Rental Revenue for

 

Percentage of

 

 

 

Number of

 

Leasable

 

the Quarter Ended

 

Rental

 

Property Type

 

Properties

 

Square Feet

 

December 31, 2017

(1)

Revenue

 

Retail

 

4,999

 

60,289,500

 

$                  240,006

 

80.7%

 

Industrial

 

116

 

26,023,400

 

37,331

 

12.5

 

Office

 

42

 

3,104,700

 

13,579

 

4.6

 

Agriculture

 

15

 

184,500

 

6,571

 

2.2

 

Totals

 

5,172

 

89,602,100

 

$                  297,487

 

100.0%

 

 

 

 

 

 

 

 

 

 

 

(1)

Includes rental revenue for all properties owned at December 31, 2017.  Excludes revenue of $1,412 from sold properties.

 

Tenant Diversification

The following table sets forth the largest tenants in our property portfolio, expressed as a percentage of total rental revenue at December 31, 2017:

 

Tenant

 

Number of
Properties

 

% of Rental Revenue

 

 

 

 

 

Walgreens

 

203

 

6.5%

 

FedEx

 

43

 

5.1%

 

LA Fitness

 

53

 

4.0%

 

Dollar General

 

532

 

3.9%

 

Dollar Tree / Family Dollar

 

468

 

3.6%

 

AMC Theatres

 

32

 

3.6%

 

Walmart / Sam’s Club

 

51

 

3.0%

 

Circle K (Couche-Tard)

 

298

 

2.5%

 

BJ’s Wholesale Club

 

15

 

2.2%

 

Treasury Wine Estates

 

17

 

2.1%

 

Life Time Fitness

 

11

 

2.0%

 

Regal Cinemas

 

25

 

1.9%

 

CVS Pharmacy

 

76

 

1.9%

 

Super America / Western Refining (Tesoro)

 

134

 

1.8%

 

GPM Investments / Fas Mart

 

216

 

1.8%

 

Rite Aid

 

69

 

1.7%

 

7-Eleven

 

111

 

1.7%

 

TBC Corporation (Sumitomo)

 

159

 

1.5%

 

Kroger

 

14

 

1.5%

 

FreedomRoads / Camping World

 

19

 

1.2%

 

 

-16-



Table of Contents

 

Service Category Diversification for our Retail Properties

The following table sets forth certain information regarding the 4,999 retail properties included in our 5,172 total properties owned at December 31, 2017, classified according to the business types and the level of services they provide at the property level (dollars in thousands):

 

 

 

Number of

 

Retail Rental Revenue

 

Percentage of

 

 

 

Retail

 

for the Quarter Ended

 

Retail Rental

 

 

 

Properties

 

December 31, 2017

(1)

Revenue

 

Tenants Providing Services

 

 

 

 

 

 

 

Automotive collision services

 

58

 

$

2,938

 

1.2%

 

Automotive service

 

271

 

7,031

 

2.9

 

Child care

 

204

 

5,380

 

2.2

 

Education

 

14

 

839

 

0.3

 

Entertainment

 

11

 

1,363

 

0.6

 

Equipment services

 

2

 

111

 

*

 

Financial services

 

218

 

6,232

 

2.6

 

Health and fitness

 

93

 

22,337

 

9.3

 

Health care

 

27

 

1,139

 

0.5

 

Telecommunications

 

1

 

47

 

*

 

Theaters

 

60

 

17,038

 

7.1

 

Transportation services

 

2

 

229

 

0.1

 

Other

 

8

 

133

 

0.1

 

 

 

969

 

64,817

 

26.9

 

Tenants Selling Goods and Services

 

 

 

 

 

 

 

Automotive parts (with installation)

 

69

 

1,631

 

0.7

 

Automotive tire services

 

194

 

7,401

 

3.1

 

Convenience stores

 

867

 

27,758

 

11.6

 

Motor vehicle dealerships

 

28

 

5,749

 

2.4

 

Pet supplies and services

 

12

 

738

 

0.3

 

Restaurants - casual dining

 

313

 

10,339

 

4.3

 

Restaurants - quick service

 

641

 

16,287

 

6.8

 

 

 

2,124

 

69,903

 

29.2

 

Tenants Selling Goods

 

 

 

 

 

 

 

Apparel stores

 

28

 

4,328

 

1.8

 

Automotive parts

 

116

 

2,451

 

1.0

 

Book stores

 

1

 

104

 

*

 

Consumer electronics

 

10

 

1,097

 

0.5

 

Crafts and novelties

 

15

 

1,618

 

0.7

 

Dollar stores

 

1,000

 

22,830

 

9.5

 

Drug stores

 

342

 

30,214

 

12.6

 

General merchandise

 

82

 

5,438

 

2.3

 

Grocery stores

 

112

 

13,555

 

5.6

 

Home furnishings

 

57

 

2,283

 

1.0

 

Home improvement

 

66

 

7,673

 

3.2

 

Jewelry

 

4

 

175

 

0.1

 

Office supplies

 

8

 

564

 

0.2

 

Shoe stores

 

2

 

182

 

0.1

 

Sporting goods

 

31

 

3,369

 

1.4

 

Wholesale clubs

 

32

 

9,405

 

3.9

 

 

 

1,906

 

 

105,286

 

43.9

 

Total Retail Properties

 

4,999

 

$

240,006

 

100.0%

 

 

*

Less than 0.1%

 

(1)

Includes rental revenue for all retail properties owned at December 31, 2017.  Excludes revenue of $57,481 from non-retail properties and $1,412 from sold properties.

 

-17-



Table of Contents

 

Lease Expirations

The following table sets forth certain information regarding our property portfolio regarding the timing of the lease term expirations in our portfolio (excluding rights to extend a lease at the option of the tenant) on our 5,062 net leased, single-tenant properties and their contribution to rental revenue for the quarter ended December 31, 2017 (dollars in thousands):

 

Total Portfolio(1)

 

Expiring

Approx.

 

% of

 

Leases

Leasable

Rental

Rental

Year

Retail

Non-Retail

Sq. Feet

Revenue(2)

Revenue

 

 

 

 

 

 

2018

195

4

2,258,600

$

8,053

2.8%

2019

262

10

3,853,800

13,279

4.5

2020

213

10

4,166,100

12,614

4.3

2021

294

12

5,284,100

14,869

5.1

2022

358

18

9,758,900

20,152

6.9

2023

471

22

8,109,600

24,436

8.4

2024

218

11

3,844,700

11,641

4.0

2025

333

13

5,179,500

20,172

6.9

2026

315

5

4,685,500

15,762

5.4

2027

535

4

6,199,400

22,417

7.7

2028

298

9

7,087,100

18,169

6.2

2029

400

7

7,386,300

21,473

7.3

2030

95

13

2,718,500

14,768

5.0

2031

283

25

5,563,500

25,209

8.6

2032

81

4

3,060,700

10,776

3.7

2033 - 2043

541

3

7,267,800

38,647

13.2

Totals

4,892

170

86,424,100

$

292,437

100.0%

 

 

 

 

 

 

*

Less than 0.1%

 

(1)

Excludes 28 multi-tenant properties and 83 vacant properties, one of which is a vacant, multi-tenant property. The lease expirations for properties under construction are based on the estimated date of completion of those properties.

 

(2)

Excludes revenue of $5,050 from 28 multi-tenant properties and 83 vacant properties, and $1,412 from sold properties at December 31, 2017.

 

-18-



Table of Contents

 

Geographic Diversification

The following table sets forth certain state-by-state information regarding our property portfolio as of December 31, 2017 (dollars in thousands):

 

 

 

 

 

 

 

Approximate

 

Rental Revenue for

 

Percentage of

 

 

 

Number of

 

Percent

 

Leasable

 

the Quarter Ended

 

Rental

 

State

 

Properties

 

Leased

 

Square Feet

 

December 31, 2017

(1)

Revenue

 

Alabama

 

164

 

98%

 

1,567,500

 

$

5,603

 

1.9%

 

Alaska

 

3

 

67

 

275,900

 

566

 

0.2

 

Arizona

 

115

 

99

 

1,808,300

 

6,653

 

2.2

 

Arkansas

 

74

 

100

 

887,700

 

2,035

 

0.7

 

California

 

186

 

99

 

5,316,000

 

27,804

 

9.3

 

Colorado

 

83

 

99

 

1,458,400

 

4,738

 

1.6

 

Connecticut

 

22

 

91

 

521,000

 

2,042

 

0.7

 

Delaware

 

18

 

100

 

93,000

 

718

 

0.2

 

Florida

 

373

 

99

 

4,092,300

 

17,322

 

5.8

 

Georgia

 

258

 

99

 

4,315,900

 

12,718

 

4.3

 

Idaho

 

12

 

100

 

87,000

 

419

 

0.1

 

Illinois

 

253

 

98

 

5,791,200

 

18,482

 

6.2

 

Indiana

 

173

 

97

 

2,154,600

 

8,578

 

2.9

 

Iowa

 

42

 

88

 

2,978,500

 

3,836

 

1.3

 

Kansas

 

94

 

96

 

1,857,100

 

4,869

 

1.6

 

Kentucky

 

68

 

99

 

1,667,700

 

4,198

 

1.4

 

Louisiana

 

106

 

97

 

1,547,900

 

4,169

 

1.4

 

Maine

 

15

 

100

 

174,700

 

1,121

 

0.4

 

Maryland

 

36

 

97

 

1,012,300

 

4,582

 

1.5

 

Massachusetts

 

79

 

96

 

729,400

 

3,641

 

1.2

 

Michigan

 

163

 

99

 

1,781,000

 

6,475

 

2.2

 

Minnesota

 

159

 

100

 

2,028,400

 

9,907

 

3.3

 

Mississippi

 

140

 

95

 

1,623,200

 

4,659

 

1.6

 

Missouri

 

152

 

97

 

2,688,000

 

8,414

 

2.8

 

Montana

 

11

 

100

 

87,000

 

501

 

0.2

 

Nebraska

 

38

 

100

 

749,700

 

1,865

 

0.6

 

Nevada

 

23

 

96

 

1,092,700

 

1,459

 

0.5

 

New Hampshire

 

19

 

100

 

315,800

 

1,547

 

0.5

 

New Jersey

 

75

 

99

 

1,000,900

 

5,546

 

1.9

 

New Mexico

 

32

 

100

 

355,700

 

1,024

 

0.3

 

New York

 

99

 

99

 

2,753,400

 

14,728

 

5.0

 

North Carolina

 

182

 

99

 

2,792,500

 

8,212

 

2.8

 

North Dakota

 

6

 

100

 

117,700

 

211

 

0.1

 

Ohio

 

256

 

99

 

6,774,600

 

15,418

 

5.2

 

Oklahoma

 

134

 

100

 

1,653,500

 

4,660

 

1.6

 

Oregon

 

28

 

100

 

593,300

 

2,399

 

0.8

 

Pennsylvania

 

168

 

98

 

1,956,800

 

8,683

 

2.9

 

Rhode Island

 

4

 

100

 

161,600

 

841

 

0.3

 

South Carolina

 

159

 

99

 

1,626,700

 

6,571

 

2.2

 

South Dakota

 

15

 

100

 

195,200

 

468

 

0.2

 

Tennessee

 

234

 

98

 

3,565,000

 

9,203

 

3.1

 

Texas

 

519

 

99

 

9,583,400

 

27,830

 

9.4

 

Utah

 

22

 

100

 

970,600

 

2,272

 

0.8

 

Vermont

 

5

 

100

 

98,000

 

489

 

0.2

 

Virginia

 

169

 

96

 

3,114,700

 

8,332

 

2.8

 

Washington

 

43

 

98

 

733,400

 

3,097

 

1.0

 

West Virginia

 

18

 

100

 

395,600

 

1,228

 

0.4

 

Wisconsin

 

115

 

100

 

2,374,300

 

6,929

 

2.3

 

Wyoming

 

6

 

100

 

54,700

 

276

 

0.1

 

Puerto Rico

 

4

 

100

 

28,300

 

149

 

*

 

Totals\Average

 

5,172

 

98%

 

89,602,100

 

$

297,487

 

100.0%

 

*

Less than 0.1%

 

(1)

Includes rental revenue for all properties owned at December 31, 2017.  Excludes revenue of $1,412 from sold properties.

 

-19-



Table of Contents

 

FORWARD-LOOKING STATEMENTS

 

This Annual Report on Form 10-K, including the documents incorporated by reference, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. When used in this annual report, the words “estimated”, “anticipated”, “expect”, “believe”, “intend” and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of strategy, plans, or intentions of management. Forward-looking statements are subject to risks, uncertainties, and assumptions about Realty Income Corporation, including, among other things:

 

·      Our anticipated growth strategies;

·      Our intention to acquire additional properties and the timing of these acquisitions;

·      Our intention to sell properties and the timing of these property sales;

·      Our intention to re-lease vacant properties;

·      Anticipated trends in our business, including trends in the market for long-term, net leases of freestanding, single-tenant properties; and

·      Future expenditures for development projects.

 

Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. In particular, some of the factors that could cause actual results to differ materially are:

 

·      Our continued qualification as a real estate investment trust;

·      General business and economic conditions;

·      Competition;

·      Fluctuating interest rates;

·      Access to debt and equity capital markets;

·      Continued volatility and uncertainty in the credit markets and broader financial markets;

·      Other risks inherent in the real estate business including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments, and potential damages from natural disasters;

·      Impairments in the value of our real estate assets;

·      Changes in the tax laws of the United States of America;

·      The outcome of any legal proceedings to which we are a party or which may occur in the future; and

·      Acts of terrorism and war.

 

Additional factors that may cause risks and uncertainties include those discussed in the sections entitled “Business”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report.

 

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that this annual report was filed with the Securities and Exchange Commission, or SEC.  While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this annual report or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, the forward-looking events discussed in this annual report might not occur.

 

Item 1A:      Risk Factors

 

This “Risk Factors” section contains references to our “capital stock” and to our “stockholders.”  Unless expressly stated otherwise, the references to our “capital stock” represent our common stock and any class or series of our preferred stock, while the references to our “stockholders” represent holders of our common stock and any class or series of our preferred stock.

 

-20-



Table of Contents

 

In order to grow we need to continue to acquire investment properties.  The acquisition of investment properties may be subject to competitive pressures.

 

We face competition in the acquisition and operation of our properties. We expect competition from:

 

·      Businesses;

·      Individuals;

·      Fiduciary accounts and plans; and

·      Other entities engaged in real estate investment and financing.

 

Some of these competitors are larger than we are and have greater financial resources. This competition may result in a higher cost for properties we wish to purchase.

 

Negative market conditions or adverse events affecting our existing or potential tenants, or the industries in which they operate, could have an adverse impact on our ability to attract new tenants, re-lease space, collect rent or renew leases, which could adversely affect our cash flow from operations and inhibit growth.

 

Cash flow from operations depends in part on our ability to lease space to tenants on economically favorable terms. We could be adversely affected by various facts and events over which we have limited or no control, such as:

 

·      Lack of demand in areas where our properties are located;

·      Inability to retain existing tenants and attract new tenants;

·      Oversupply of space and changes in market rental rates;

·      Declines in our tenants’ creditworthiness and ability to pay rent, which may be affected by their operations, economic downturns and competition within their industries from other operators;

·      Defaults by and bankruptcies of tenants, failure of tenants to pay rent on a timely basis, or failure of tenants to comply with their contractual obligations;

·      Economic or physical decline of the areas where the properties are located; and

·      Deterioration of physical condition of our properties.

 

At any time, any tenant may experience a downturn in its business that may weaken its operating results or overall financial condition. As a result, a tenant may delay lease commencement, fail to make rental payments when due, decline to extend a lease upon its expiration, become insolvent, or declare bankruptcy. Any tenant bankruptcy or insolvency, leasing delay or failure to make rental payments when due could result in the termination of the tenant’s lease and material losses to us.

 

If tenants do not renew their leases as they expire, we may not be able to rent or sell the properties.  Furthermore, leases that are renewed, and some new leases for properties that are re-leased, may have terms that are less economically favorable than expiring lease terms, or may require us to incur significant costs, such as renovations, tenant improvements, or lease transaction costs. Negative market conditions may cause us to sell vacant properties for less than their carrying value, which could result in impairments. Any of these events could adversely affect cash flow from operations and our ability to make distributions to stockholders and service indebtedness. A significant portion of the costs of owning property, such as real estate taxes, insurance, and maintenance, are not necessarily reduced when circumstances cause a decrease in rental revenue from the properties. In a weakened financial condition, tenants may not be able to pay these costs of ownership and we may be unable to recover these operating expenses from them.

 

Further, the occurrence of a tenant bankruptcy or insolvency could diminish the income we receive from the tenant’s lease or leases. In addition, a bankruptcy court might authorize the tenant to terminate its leases with us. If that happens, our claim against the bankrupt tenant for unpaid future rent would be subject to statutory limitations that most likely would result in rent payments that would be substantially less than the remaining rent we are owed under the leases or we may elect not to pursue claims against a tenant for terminated leases. In addition, any claim we have for unpaid past rent, if any, may not be paid in full, or at all. Moreover, in the case of a tenant’s leases that are not terminated as the result of its bankruptcy, we may be required or elect to reduce the rent payable under those leases or provide other concessions, reducing amounts we receive under those leases. As a result, tenant bankruptcies may have a material adverse effect on our results of operations.  Any of these events could adversely affect our cash flow from operations and our ability to make distributions to stockholders and service our indebtedness.

 

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Table of Contents

 

Eighty-three of our properties were available for lease or sale at December 31, 2017, 82 of which were single-tenant properties. At December 31, 2017, 55 of our properties under lease were unoccupied and available for sublease by the tenants, all of which were current with their rent and other obligations. During 2017, each of our tenants accounted for less than 10% of our rental revenue.

 

For 2017, our tenants in the “drug store” industry accounted for approximately 10.6% of our rental revenue. A downturn in this industry, whether nationwide or limited to specific sectors of the United States, or a change in legislation relating to prescription drugs, could adversely affect tenants in this industry, which in turn could have a material adverse effect on our financial position, results of operations, our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions on our common stock, including the common stock offered hereby, and preferred stock.

 

Individually, each of the other industries in our property portfolio accounted for less than 10% of our rental revenue for 2017. Nevertheless, downturns in these industries could also adversely affect our tenants, which in turn could also have a material adverse effect on our financial position, results of operations and our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions on our common stock, and preferred stock. In addition, we may in the future make additional investments in the “drug store” industry, which would increase this industry’s percentage of our rental revenues, thereby increasing the effect that such a downturn in this industry would have on us.

 

In addition, some of our properties are leased to tenants that may have limited financial and other resources, and therefore, they are more likely to be adversely affected by a downturn in their respective businesses or in the regional, national, or international economy.

 

Furthermore, we have made and may continue to make selected acquisitions of properties that fall outside our historical focus on freestanding, single-tenant, net lease locations in the United States. We may be exposed to a variety of new risks by expanding into new property types and/or new jurisdictions outside the United States and properties leased to tenants engaged in non-retail businesses. These risks may include limited experience in managing certain types of new properties, new types of real estate locations and lease structures, and the laws and culture of any non-U.S. jurisdiction.

 

As a property owner, we may be subject to unknown environmental liabilities.

Investments in real property can create a potential for environmental liability. An owner of property can face liability for environmental contamination created by the presence or discharge of hazardous substances on the property. We can face such liability regardless of:

 

·      Our knowledge of the contamination;

·      The timing of the contamination;

·      The cause of the contamination; or

·      The party responsible for the contamination of the property.

 

There may be environmental conditions associated with our properties of which we are unaware. In that regard, a number of our properties are leased to operators of convenience stores that sell petroleum-based fuels, as well as to operators of oil change and tune-up facilities and operators that use chemicals and other waste products. These facilities, and some other of our properties, use, or may have used in the past, underground lifts or underground tanks for the storage of petroleum-based or waste products, which could create a potential for the release of hazardous substances.

 

The presence of hazardous substances on a property may adversely affect our ability to lease or sell that property and we may incur substantial remediation costs or third party liability claims. Although our leases generally require our tenants to operate in compliance with all applicable federal, state, and local environmental laws, ordinances and regulations, and to indemnify us against any environmental liabilities arising from the tenants’ activities on the property, we could nevertheless be subject to liability, including strict liability, by virtue of our ownership interest. There also can be no assurance that our tenants could or would satisfy their indemnification obligations under their leases. The discovery of environmental liabilities attached to our properties could have an adverse effect on our results of operations, our financial condition, or our ability to make distributions to stockholders and to pay the principal of and interest on our debt securities and other indebtedness.

 

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In addition, several of our properties were built during the period when asbestos was commonly used in building construction and we may acquire other buildings with asbestos in the future. Environmental laws govern the presence, maintenance, and removal of asbestos-containing materials, or ACMs, and require that owners or operators of buildings containing asbestos properly manage and maintain the asbestos, that they adequately inform or train those who may come into contact with asbestos and that they undertake special precautions, including removal or other abatement in the event that asbestos is disturbed during renovation or demolition of a building. These laws may impose fines and penalties on building owners or operators for failure to comply with these requirements and may allow third parties to seek recovery from owners or operators for personal injury associated with exposure to asbestos fibers.

 

It is possible that our insurance could be insufficient to address any particular environmental situation and/or that, in the future, we could be unable to obtain insurance for environmental matters at a reasonable cost, or at all. Our tenants are generally responsible for, and indemnify us against, liabilities for environmental matters that arise during the lease terms as a result of tenants’ activities on the properties. For properties that have underground storage tanks, in addition to providing an indemnity in our favor, the tenants generally are required to meet applicable state financial assurance obligations, including maintaining certain minimum net worth requirements, obtaining environmental insurance, or relying upon the state trust funds where available in the states where these properties are located to reimburse responsible parties for costs of environmental remediation.  However, it is possible that one or more of our tenants could fail to have sufficient funds to cover any such indemnification or to meet applicable state financial assurance obligations, and thus we may still be obligated to pay for any such environmental liabilities.

 

Compliance.  We have not been notified by any governmental authority, and are not otherwise aware, of any material noncompliance, liability, or claim relating to hazardous substances, toxic substances, or petroleum products in connection with any of our properties. In addition, we believe we are in compliance in all material respects with all present federal, state, and local laws relating to ACMs. Nevertheless, if environmental contamination should exist, we could be subject to liability, including strict liability, by virtue of our ownership interest.

 

Insurance and Indemnity.  In July 2012, we entered into a ten-year environmental insurance policy that expires in July 2022 and replaced our previous seven-year environmental insurance policy. The limits on our current policy are $10 million per occurrence and $60 million in the aggregate.  The limits on the excess policy are $5 million per occurrence and $10 million in the aggregate.  Therefore, the primary and excess ten-year policies together provide a total limit of $15 million per occurrence and $70 million in the aggregate.

 

It is possible that our insurance could be insufficient to address any particular environmental situation and that, in the future, we could be unable to obtain insurance for environmental matters at a reasonable cost, or at all. Our tenants are generally responsible for, and indemnify us against, liabilities for environmental matters that occur on our properties.  For properties that have underground storage tanks, in addition to providing an indemnity in our favor, the tenants generally obtain environmental insurance or rely upon the state funds in the states where these properties are located to reimburse tenants for environmental remediation.

 

If we fail to qualify as a REIT, the amount of dividends we are able to pay would decrease, which could adversely affect the market price of our capital stock and could adversely affect the value of our debt securities.

Commencing with our taxable year ended December 31, 1994, we believe that we have been organized and have operated, and we intend to continue to operate, so as to qualify as a REIT under Sections 856 through 860 of the Code. However, we cannot assure you that we have been organized or have operated in a manner that has satisfied the requirements for qualification as a REIT, or that we will continue to be organized or operate in a manner that will allow us to continue to qualify as a REIT.

 

Qualification as a REIT involves the satisfaction of numerous requirements under highly technical and complex Code provisions, for which there are only limited judicial and administrative interpretations, as well as the determination of various factual matters and circumstances not entirely within our control.

 

For example, in order to qualify as a REIT, at least 95% of our gross income in each year must be derived from qualifying sources, and we must pay distributions to stockholders aggregating annually at least 90% of our taxable income (excluding net capital gains).

 

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If we fail to satisfy all of the requirements for qualification as a REIT, we may be subject to certain penalty taxes or, in some circumstances, we may fail to qualify as a REIT.  If we were to fail to qualify as a REIT in any taxable year:

 

·      We would be required to pay regular U.S. federal corporate income tax on our taxable income;

·      We would not be allowed a deduction for amounts distributed to our stockholders in computing our taxable income;

·      We could be disqualified from treatment as a REIT for the four taxable years following the year during which qualification is lost;

·      We would no longer be required to make distributions to stockholders; and

·      This treatment would substantially reduce amounts available for investment or distribution to stockholders because of the additional tax liability for the years involved, which could have a material adverse effect on the market price of our capital stock and the value of our debt securities.

 

Even if we qualify for and maintain our REIT status, we may be subject to certain federal, state, and local taxes on our income and property. For example, if we have net income from a prohibited transaction, that income will be subject to a 100% tax. In addition, our taxable REIT subsidiaries, including Crest, are subject to federal and state taxes at the applicable tax rates on their income and property.  Any failure to comply with legal and regulatory tax obligations could adversely affect our ability to conduct business and could adversely affect the market price of our capital stock and the value of our debt securities.

 

Legislative or other actions affecting REITs could have a negative effect on us or our investors. The rules dealing with federal income taxation are constantly under review by persons involved in the legislative process and by the Internal Revenue Services, or the IRS, and the U.S. Department of the Treasury, or the Treasury. Changes to the tax laws, with or without retroactive application, could adversely affect us or our investors, including holders of our common stock or debt securities. We cannot predict how changes in the tax laws might affect us or our investors. New legislation, Treasury Regulations, administrative interpretations or court decisions could significantly and negatively affect our ability to qualify as a REIT, the federal income tax consequences of such qualification, or the federal income tax consequences of an investment in us. Also, the law relating to the tax treatment of other entities, or an investment in other entities, could change, making an investment in such other entities more attractive relative to an investment in a REIT.

 

Recently enacted U.S. tax legislation, or the 2017 Tax Legislation, has significantly changed the U.S. federal income taxation of U.S. businesses and their owners, including REITs and their stockholders. We are still evaluating the potential impact of the 2017 Tax Legislation on us, but the changes made by the 2017 Tax Legislation that could affect us and our investors include:

 

·      Temporarily reducing individual U.S. federal income tax rates on ordinary income, including the reduction of the highest individual U.S. federal income tax rate from 39.6% to 37% for taxable years beginning after December 31, 2017 and before January 1, 2026;

·      Permanently eliminating the progressive corporate tax rate structure, which previously imposed a maximum corporate tax rate of 35%, and replacing it with a flat corporate tax rate of 21%;

·      Permitting a deduction for certain domestic qualified business income from pass-through income entities, including dividends received by our stockholders from us that are not designated by us as capital gain dividends or qualified dividend income, which will allow individuals, trusts, and estates to deduct up to 20% of such amounts for taxable years beginning after December 31, 2017 and before January 1, 2026;

·      Reducing the highest rate of withholding with respect to our distributions to non-U.S. stockholders that are treated as attributable to gains from the sale or exchange of U.S. real property interests from 35% to 21%;

·      Limiting our deduction for net operating losses arising in taxable years beginning after December 31, 2017 to 80% of REIT taxable income (prior to the application of the dividends paid deduction);

·      Generally limiting the deduction for net business interest expense in excess of 30% of a business’s “adjusted taxable income,” except for taxpayers (including most equity REITs) that engage in certain real estate businesses and elect out of this rule (provided that such electing taxpayers must use an alternative depreciation system with longer depreciation periods); and

·      Eliminating the corporate alternative minimum tax.

 

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Many of these changes are effective immediately, without any transition periods or grandfathering for existing transactions. The legislation is unclear in many respects and could be subject to potential amendments and technical corrections, as well as interpretations and implementing regulations by the Treasury and IRS, any of which could lessen or increase the impact of the legislation. In addition, it is unclear how these U.S. federal income tax changes will affect state and local taxation, which often uses federal taxable income as a starting point for computing state and local tax liabilities. While some of the changes made by the tax legislation may adversely affect us in one or more reporting periods and prospectively, other changes may be beneficial on a going forward basis. We continue to work with our tax advisors and auditors to determine the full impact that the recent tax legislation as a whole will have on us.

 

Distribution requirements imposed by law limit our flexibility.

To maintain our status as a REIT for federal income tax purposes, we generally are required to distribute to our stockholders at least 90% of our taxable income, excluding net capital gains, each year. We also are subject to tax at regular corporate rates to the extent that we distribute less than 100% of our taxable income (including net capital gains) each year.

 

In addition, we are subject to a 4% nondeductible excise tax to the extent that we fail to distribute during any calendar year at least the sum of 85% of our ordinary income for that calendar year, 95% of our capital gain net income for the calendar year, and any amount of that income that was not distributed in prior years.

 

We intend to continue to make distributions to our stockholders to comply with the distribution requirements of the Code as well as to reduce our exposure to federal income taxes and the nondeductible excise tax. Differences in timing between the receipt of income and the payment of expenses to arrive at taxable income, along with the effect of required debt amortization payments, could require us to borrow funds to meet the distribution requirements that are necessary to achieve the tax benefits associated with qualifying as a REIT.

 

Future issuances of equity securities could dilute the interest of holders of our common stock.

Our future growth will depend, in large part, upon our ability to raise additional capital. If we were to raise additional capital through the issuance of equity securities, we could dilute the interests of holders of our common stock. The interests of our common stockholders could also be diluted by the issuance of shares of common stock pursuant to stock incentive plans. Likewise, our Board of Directors is authorized to cause us to issue preferred stock of any class or series (with dividend, voting and other rights as determined by our Board of Directors). Accordingly, our Board of Directors may authorize the issuance of preferred stock with voting, dividend and other similar rights that could dilute, or otherwise adversely affect, the interest of holders of our common stock.

 

We may acquire properties or portfolios of properties through tax deferred contribution transactions, which could result in stockholder dilution and limit our ability to sell or refinance such assets.

We have in the past and may in the future acquire properties or portfolios of properties through tax deferred contribution transactions in exchange for partnership units in an operating partnership, which could result in stockholder dilution through the issuance of operating partnership units that, under certain circumstances, may be exchanged for shares of our common stock.  This acquisition structure may have the effect of, among other things, reducing the amount of tax depreciation we could deduct over the tax life of the acquired properties, and may require that we agree to restrictions on our ability to dispose of, or refinance the debt on, the acquired properties in order to protect the contributors’ ability to defer recognition of taxable gain.  Similarly, we may be required to incur or maintain debt we would otherwise not incur so we can allocate the debt to the contributors to maintain their tax bases.  These restrictions could limit our ability to sell or refinance an asset at a time, or on terms, that would be favorable absent such restrictions.

 

We are subject to risks associated with debt and capital stock financing.

We intend to incur additional indebtedness in the future, including borrowings under our $2.0 billion unsecured revolving credit facility. At December 31, 2017, we had $110.0 million of outstanding borrowings under our revolving credit facility, a total of $5.25 billion of outstanding unsecured senior debt securities (excluding unamortized net original issuance premiums of $14.3 million and deferred financing costs of $34.1 million), $445.9 million of borrowings outstanding under our senior unsecured term loans (excluding deferred financing costs of $580,000) and approximately $320.3 million of outstanding mortgage debt (excluding net unamortized premiums totaling $5.9 million and deferred financing costs of $236,000 on this mortgage debt). To the extent that new indebtedness is added to our current debt levels, the related risks that we now face would increase. As

 

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a result, we are and will be subject to risks associated with debt financing, including the risk that our cash flow could be insufficient to make required payments on our debt. We also face variable interest rate risk as the interest rates on our revolving credit facility, our term loans and some of our mortgage debt are variable and could therefore increase over time. We also face the risk that we may be unable to refinance or repay our debt as it comes due. Given past disruptions in the financial markets and the recent global financial crisis and related uncertainties, including the impact of the United Kingdom’s advisory referendum to withdraw from the European Union (referred to as Brexit), we also face the risk that one or more of the participants in our revolving credit facility may not be able to lend us money.

 

In addition, our revolving credit facility, our term loan facilities and mortgage loan documents contain provisions that could limit or, in certain cases, prohibit the payment of dividends and other distributions on our common stock and preferred stock. In particular, our revolving credit facility and our $250.0 million term loan facility, both of which are governed by the same credit agreement, provide that, if an event of default (as defined in the credit agreement) exists, neither we nor any of our subsidiaries (other than our wholly-owned subsidiaries) may pay any dividends or other distributions on (except distributions payable in shares of a given class of our stock to the stockholders of that class), or repurchase or redeem, among other things, any shares of our common stock or preferred stock, during any period of four consecutive fiscal quarters in an aggregate amount in excess of the greater of:

 

·      The sum of (a) 95% of our adjusted funds from operations (as defined in the credit agreement) for that period plus (b) the aggregate amount of cash distributions on our preferred stock for that period, and

·      The minimum amount of cash distributions required to be made to our stockholders in order to maintain our status as a REIT for federal income tax purposes and to avoid the payment of any income or excise taxes that would otherwise be imposed under specified sections of the Code on income we do not distribute to our stockholders,

 

except that we may repurchase or redeem shares of our preferred stock with the net proceeds from the issuance of shares of our common stock or preferred stock. The credit agreement further provides that, in the event of a failure to pay principal, interest or any other amount payable thereunder when due or upon the occurrence of certain events of bankruptcy, insolvency or reorganization with respect to us or with respect to one or more of our subsidiaries that in the aggregate meet a significance test set forth in the credit agreement, we and our subsidiaries (other than our wholly-owned subsidiaries) may not pay any dividends or other distributions on (except for (a) distributions payable in shares of a given class of our stock to the stockholders of that class and (b) dividends and distributions described in the second bullet point above), or repurchase or redeem, among other things, any shares of our common stock or preferred stock. If any such event of default under the credit agreement were to occur, it would likely have a material adverse effect on the market price of our outstanding common and preferred stock and on the market value of our debt securities, could limit the amount of dividends or other distributions payable on our common stock and preferred stock or the amount of interest and principal we are able to pay on our indebtedness, or prevent us from paying those dividends, other distributions, interest or principal altogether, and may adversely affect our ability to qualify, or prevent us from qualifying, as a REIT. Likewise, one of our subsidiaries is the borrower under our $70.0 million term loan facility and that facility requires that this subsidiary maintain its consolidated tangible net worth (as defined in the term loan facility) above a certain minimum dollar amount and comply with certain other financial covenants. This minimum consolidated tangible net worth covenant may limit the ability of this subsidiary, as well as other subsidiaries that are owned by this subsidiary, to provide funds to us in order to pay dividends and other distributions on our common stock and preferred stock and amounts due on our indebtedness. Any failure by this subsidiary to comply with these financial covenants will, and any failure by this subsidiary to comply with other covenants in our $70.0 million term loan facility may, result in an event of default under that facility, which could have adverse consequences similar to those that may result from an event of default under our revolving credit facility or $250.0 million term loan facility as described above.

 

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Our indebtedness could also have other important consequences to holders of our common stock, preferred stock, and debt securities, including:

 

·      Increasing our vulnerability to general adverse economic and industry conditions;

·      Limiting our ability to obtain additional financing to fund future working capital, acquisitions, capital expenditures and other general corporate requirements;

·      Requiring the use of a substantial portion of our cash flow from operations for the payment of principal and interest on our indebtedness, thereby reducing our ability to use our cash flow to fund working capital, acquisitions, capital expenditures, and general corporate requirements;

·      Limiting our flexibility in planning for, or reacting to, changes in our business and our industry; and

·      Putting us at a disadvantage compared to our competitors with less indebtedness.

 

If we default under a credit facility, loan agreement or other debt instrument, the lenders will generally have the right to demand immediate repayment of the principal and interest on all of their loans and, in the case of secured indebtedness, to exercise their rights to seize and sell the collateral.

 

Our business operations may not generate the cash needed to make distributions on our capital stock or to service our indebtedness.

Our ability to make distributions on our common stock and preferred stock and payments on our indebtedness, and to fund planned acquisitions and capital expenditures will depend on our ability to generate cash in the future.  We cannot assure you that our business will generate sufficient cash flow from operations or that future borrowings will be available to us in an amount sufficient to enable us to make distributions on our common stock and preferred stock, to pay our indebtedness, or to fund our other liquidity needs.

 

The market value of our capital stock and debt securities could be substantially affected by various factors.

The market value of our capital stock and debt securities will depend on many factors, which may change from time to time and may be outside of our control, including:

 

·      Prevailing interest rates, increases in which may have an adverse effect on the market value of our capital stock and debt securities;

·      The market for similar securities issued by other REITs;

·      General economic, political and financial market conditions;

·      The financial condition, performance and prospects of us, our tenants and our competitors;

·      Changes in legal and regulatory taxation obligations;

·      Litigation and regulatory proceedings;

·      Changes in financial estimates or recommendations by securities analysts with respect to us, our competitors or our industry;

·      Changes in our credit ratings; and

·      Actual or anticipated variations in quarterly operating results of us and our competitors.

 

In addition, over the last several years, prices of common stock and debt securities in the United States, or U.S., trading markets have been experiencing extreme price fluctuations, and the market values of our common stock and debt securities have also fluctuated significantly during this period. As a result of these and other factors, investors who purchase our capital stock and debt securities may experience a decrease, which could be substantial and rapid, in the market value of our capital stock and debt securities, including decreases unrelated to our operating performance or prospects.

 

Real estate ownership is subject to particular conditions that may have a negative impact on our revenue.

We are subject to all of the inherent risks associated with the ownership of real estate.  In particular, we face the risk that rental revenue from our properties may be insufficient to cover all corporate operating expenses, debt service payments on indebtedness we incur, and distributions on our capital stock. Additional real estate ownership risks include:

 

·      Adverse changes in general or local economic conditions;

·      Changes in supply of, or demand for, similar or competing properties;

·      Changes in interest rates and operating expenses;

·      Competition for tenants;

 

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·      Changes in market rental rates;

·      Inability to lease properties upon termination of existing leases;

·      Renewal of leases at lower rental rates;

·      Inability to collect rents from tenants due to financial hardship, including bankruptcy;

·      Changes in tax, real estate, zoning and environmental laws that may have an adverse impact upon the value of real estate;

·      Uninsured property liability;

·      Property damage or casualty losses;

·      Unexpected expenditures for capital improvements, including requirements to bring properties into compliance with applicable federal, state and local laws;

·      The need to periodically renovate and repair our properties;

·      Development oriented activities;

·      Physical or weather-related damage to properties;

·      The potential risk of functional obsolescence of properties over time;

·      Acts of terrorism and war; and

·      Acts of God and other factors beyond the control of our management.

 

Real estate property investments are illiquid; therefore, the company may not be able to dispose of properties when desired or on favorable terms.

Real estate investments are relatively illiquid. Our ability to quickly sell or exchange any of our properties in response to changes in economic and other conditions will be limited. No assurances can be given that we will recognize full value, at a price and at terms that are acceptable to us, for any property that we are required to sell for liquidity reasons. Our inability to respond rapidly to changes in the performance of our investments could adversely affect our financial condition and results of operations.

 

Our acquisition of additional properties may have a significant effect on our business, liquidity, financial position and/or results of operations.

We are engaged in the process of identifying, analyzing, underwriting, and negotiating possible acquisition transactions. We cannot provide any assurances that we will be successful in consummating future acquisitions on favorable terms or that we will realize the benefits that we anticipate from such acquisitions. Our inability to consummate one or more acquisitions on such terms, our failure to adequately underwrite and identify risks and obligations when acquiring properties, or our failure to realize the intended benefits from one or more acquisitions, could have a significant adverse effect on our business, liquidity, financial position and/or results of operations, including as a result of our incurrence of additional indebtedness and related interest expense and our assumption of unforeseen contingent liabilities in connection with completed acquisitions.

 

An uninsured loss or a loss that exceeds the policy limits on our properties could subject us to lost capital or revenue on those properties.

Under the terms and conditions of the leases currently in force on our properties, tenants generally are required to indemnify and hold us harmless from liabilities resulting from injury to persons, air, water, land or property, due to activities conducted on the properties, except for claims arising from the negligence or intentional misconduct of us or our agents. Additionally, tenants are generally required, at the tenant’s expense, to obtain and keep in full force during the term of the lease, liability and property damage insurance policies. The insurance policies our tenants are required to maintain for property damage are generally in amounts not less than the full replacement cost of the improvements less slab, foundations, supports and other customarily excluded improvements. Our tenants are generally required to maintain general liability coverage depending on the tenant and the industry in which the tenant operates.

 

In addition to the indemnities and required insurance policies identified above, many of our properties are also covered by flood and earthquake insurance policies (subject to substantial deductibles) obtained and paid for by the tenants as part of their risk management programs. Additionally, we have obtained blanket liability, flood and earthquake (subject to substantial deductibles) and property damage insurance policies to protect us and our properties against loss should the indemnities and insurance policies provided by the tenants fail to restore the properties to their condition prior to a loss. However, should a loss occur that is uninsured or in an amount exceeding the combined aggregate limits for the policies noted above, or in the event of a loss that is subject to a substantial deductible under an insurance policy, we could lose all or part of our capital invested in, and anticipated revenue from, one or more of the properties, which could have a material adverse effect on our

 

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results of operations or financial condition and on our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions to our stockholders. We also face the risk that our insurance carriers may not be able to provide payment under any potential claims that might arise under the terms of our insurance policies, and we may not have the ability to purchase insurance policies we desire.

 

In addition, although we obtain title insurance policies of our properties to protect us and our properties against unknown title defects (such as claims of ownership, liens or other encumbrances), there may be certain title defects that our title insurance will not cover. If a material title defect related to any of our properties is not adequately covered by a title insurance policy, we could lose some or all of our capital invested in and our anticipated profits from such property, cause a financial misstatement or lead to reputational damage to the company.

 

Compliance with the Americans with Disabilities Act of 1990 and fire, safety, and other regulations may require us to make unintended expenditures that could adversely impact our results of operations.

Our properties are generally required to comply with the Americans with Disabilities Act of 1990, or the ADA. The ADA has separate compliance requirements for “public accommodations” and “commercial facilities,” but generally requires that buildings be made accessible to people with disabilities. Compliance with the ADA requirements could require removal of access barriers and non-compliance could result in imposition of fines by the U.S. government or an award of damages to private litigants. The retailers to whom we lease properties are obligated by law to comply with the ADA provisions, and we believe that these retailers may be generally obligated to cover costs associated with compliance. If required changes involve greater expenditures than anticipated, or if the changes must be made on a more accelerated basis than anticipated, the ability of these retailers to cover costs could be adversely affected and we could be required to expend our own funds to comply with the provisions of the ADA, which could materially adversely affect our results of operations or financial condition and our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions to our stockholders. In addition, we are required to operate our properties in compliance with fire and safety regulations, building codes and other land use regulations, as they may be adopted by governmental agencies and bodies and become applicable to our properties. We may be required to make substantial capital expenditures to comply with those requirements and these expenditures could have a material adverse effect on our results of operations or financial condition and our ability to pay the principal of and interest on our debt securities and other indebtedness and to make distributions to our stockholders.

 

Litigation risks could affect our business.

From time to time, we are involved in legal proceedings, lawsuits, and other claims. An unfavorable resolution of litigation may have a material adverse effect on our business, results of operations and financial condition. Regardless of its outcome, litigation may result in substantial costs and expenses and significantly divert the attention of management.

 

Property taxes may increase without notice.

The real property taxes on our properties and any other properties that we develop or acquire in the future may increase as property tax rates change and as those properties are assessed or reassessed by tax authorities.

 

We depend on key personnel.

We depend on the efforts of our executive officers and key employees. The loss of the services of our executive officers and key employees could have a material adverse effect on our results of operations or financial condition and on our ability to pay the principal and interest on our debt securities and other indebtedness and to make distributions to our stockholders. It is possible that we will not be able to recruit additional personnel with equivalent experience in the net lease industry.

 

Natural disasters, terrorist attacks, other acts of violence or war, or other unexpected events may affect the value of our debt and equity securities, the markets in which we operate and our results of operations.

Natural disasters, terrorist attacks, other acts of violence or war, or other unexpected events may negatively affect our operations, the market price of our capital stock and the value of our debt securities. There can be no assurance that events like these will not occur or have a direct impact on our tenants, our business or the United States generally.

 

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If events like these were to occur, they could materially interrupt our business operations, cause consumer confidence and spending to decrease or result in increased volatility in the U.S. and worldwide financial markets and economy. They also could result in or prolong an economic recession in the U.S. or abroad. Any of these occurrences could have a significant adverse impact on our operating results and revenues and on the market price of our capital stock and on the value of our debt securities. It could also have an adverse effect on our ability to pay principal and interest on our debt securities or other indebtedness and to make distributions to our stockholders.

 

We rely on information technology in our operations, and any material failure, inadequacy, interruption or security failure of that technology could harm our business.

We rely on information technology networks and systems, including the Internet, to process, transmit and store electronic information and to manage or support a variety of our business processes, including financial transactions and maintenance of records, which may include personal identifying information. Although we have taken steps to protect the security of the data maintained in our information systems, our security measures may not be able to prevent the systems’ improper functioning, or the theft of intellectual property, personal information, or personal property, such as in the event of cyber-attacks. Any failure to maintain proper function, security and availability of our information systems could interrupt our operations, result in theft of company assets, damage our reputation, subject us to liability claims and could adversely affect our business, financial condition and results of operations.

 

In addition, we implemented a new enterprise resource planning system in 2018. We may experience difficulties with this system, which could potentially result in disruption to our normal accounting procedures and internal control over financial reporting, inaccuracies in the conversion of electronic data, difficulties integrating the systems and processes, additional costs to continue to refine the system’s functionality, and disruption of our financial reporting process.

 

Disruptions in the financial markets could affect our ability to obtain financing on reasonable terms and have other adverse effects on us and the market price of our common stock.

Over the last several years, the United States stock and credit markets have experienced significant price volatility, dislocations and liquidity disruptions, which have caused market prices of many stocks and debt securities to fluctuate substantially and the spreads on prospective debt financings to widen considerably. In addition, recent global financial crises (such as concerns that certain European countries may be unable to pay their national debt) has had a similar effect. These circumstances have materially impacted liquidity in the financial markets, making terms for certain financings less attractive, and in certain cases have resulted in the unavailability of certain types of financing. Unrest in certain Middle Eastern countries and resultant fluctuation in petroleum prices have added to the uncertainty in the capital markets.  Continued uncertainty in the stock and credit markets may negatively impact our ability to access additional financing at reasonable terms, which may negatively affect our ability to make acquisitions. A prolonged downturn in the stock or credit markets may cause us to seek alternative sources of potentially less attractive financing, and may require us to adjust our business plan accordingly. In addition, these factors may make it more difficult for us to sell properties or may adversely affect the price we receive for properties that we do sell, as prospective buyers may experience increased costs of financing or difficulties in obtaining financing. These events in the stock and credit markets may make it more difficult or costly for us to raise capital through the issuance of our common stock or preferred stock or debt securities. These disruptions in the financial markets also may have a material adverse effect on the market value of our common stock, preferred stock and debt securities, the income we receive from our properties and the lease rates we can charge for our properties, as well as other unknown adverse effects on us or the economy in general.

 

Inflation may adversely affect our financial condition and results of operations.

Although inflation has not materially impacted our results of operations in the recent past, increased inflation could have a more pronounced negative impact on any variable rate debt we incur in the future and on our results of operations. During times when inflation is greater than increases in rent, as provided for in our leases, rent increases may not keep up with the rate of inflation. Likewise, even though net leases reduce our exposure to rising property expenses due to inflation, substantial inflationary pressures and increased costs may have an adverse impact on our tenants if increases in their operating expenses exceed increases in revenue, which may adversely affect the tenants’ ability to pay rent.

 

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Current volatility in market and economic conditions may impact the accuracy of the various estimates used in the preparation of our financial statements and footnotes to the financial statements.

Various estimates are used in the preparation of our financial statements, including estimates related to asset and liability valuations (or potential impairments), and various receivables. Often these estimates require the use of market data values that are currently difficult to assess, as well as estimates of future performance or receivables collectability that can also be difficult to accurately predict. Although management believes it has been prudent and used reasonable judgment in making these estimates, it is possible that actual results may differ from these estimates.

 

Inherent limitations of internal controls over financial statements, disclosure controls and safeguarding of assets may adversely impact our financial condition and results of operations.

Our internal controls over financial reporting, disclosure controls and procedures and our operating internal controls may not prevent or detect financial misstatements or loss of assets because of inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud. Effective internal controls can provide only reasonable assurance with respect to financial statement and disclosure accuracy and safeguarding of assets. Any failure of these internal controls could result in decreased investor confidence in the accuracy and completeness of our financial reports and disclosures, our REIT qualification being jeopardized, impairment in the company’s access to capital, civil litigation or investigations by the NYSE, the SEC or other regulatory authorities, which may adversely impact our financial condition and results of operations.

 

Our business could be negatively affected as a result of actions of activist stockholders and shareholder advisory firms.

Campaigns by stockholders to effect changes at publicly traded companies are sometimes led by investors seeking to increase short-term stockholder value through actions such as financial restructuring, increased debt, special dividends, stock repurchases or sales of assets or the entire company. If we become engaged in a process or proxy contest with an activist stockholder in the future, our business could be adversely affected, as such activities could be costly and time-consuming, disrupt our operations and divert the attention of management and our employees from executing our business plan. Additionally, perceived uncertainties as to our future direction as a result of stockholder activism or actual or potential changes to the composition of our Board of Directors or management team may lead to the perception of a change in the direction of our business, instability or lack of continuity, which may be exploited by our competitors, cause concern to current or potential sellers of properties, tenants and financing sources, and make it more difficult to attract and retain qualified personnel. If potential or existing sellers of properties, tenants or financing sources choose to delay, defer or reduce transactions with us or transact with our competitors instead of us because of any such issues, then our results of operations could be adversely affected. Similarly, we may suffer damage to our reputation (for example, regarding our corporate governance or stockholder relations) or brand by way of actions taken or statements made by outside constituents, including activist investors and shareholder advisory firms, which could adversely affect the market price of our common stock and preferred stock and the value of our debt securities, including the notes, resulting in significant loss of value, which could impact our ability to access capital, increase our cost of capital, and decrease our ability to acquire properties on attractive terms.

 

Our charter contains restrictions upon ownership of our common stock.

Our charter contains restrictions on ownership and transfer of our common stock intended to, among other purposes, assist us in maintaining our status as a REIT for United States federal and/or state income tax purposes. For example, our charter restricts any person from acquiring actual or constructive ownership of more than 9.8% (in value or number of shares, whichever is more restrictive) of our outstanding common stock. These restrictions could have anti-takeover effects and could reduce the possibility that a third party will attempt to acquire control of us, which could adversely affect the market price of our common stock.

 

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Item 1B:                         Unresolved Staff comments

 

There are no unresolved staff comments.

 

Item 2:                                  Properties

 

Information pertaining to our properties can be found under Item 1.

 

Item 3:                                  Legal Proceedings

 

We are subject to certain claims and lawsuits in the ordinary course of business, the outcome of which cannot be determined at this time. In the opinion of management, any liability we might incur upon the resolution of these claims and lawsuits will not, in the aggregate, have a material adverse effect on our consolidated financial position or results of operations.

 

Item 4:                                  Mine Safety Disclosures

 

None.

 

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PART II

 

Item 5:         Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

 

A. Our common stock is traded on the NYSE under the ticker symbol “O.” The following table shows the high and low sales prices per share for our common stock as reported by the NYSE, and distributions declared per share of common stock for the periods indicated.

 

 

 

Price Per Share

 

 

 

 

 

 

of Common Stock

 

 

Distributions

 

 

 

High

 

Low

 

 

Declared (1)

 

 

 

 

 

 

 

 

 

 

2017

 

 

 

 

 

 

 

 

First Quarter

 

$

63.60

 

$

56.92

 

 

$

0.6320

 

Second Quarter

 

62.31

 

52.86

 

 

0.6335

 

Third Quarter

 

60.02

 

53.35

 

 

0.6350

 

Fourth Quarter

 

58.22

 

53.02

 

 

0.6365

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

$

2.5370

 

 

 

 

 

 

 

 

 

 

2016

 

 

 

 

 

 

 

 

First Quarter

 

$

62.89

 

$

50.47

 

 

$

0.5960

 

Second Quarter

 

69.36

 

58.30

 

 

0.5975

 

Third Quarter

 

72.30

 

63.33

 

 

0.6030

 

Fourth Quarter

 

66.75

 

52.72

 

 

0.6065

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

$

2.4030

 

 

(1) Common stock cash distributions are declared monthly by us based on financial results for the prior months.  At December 31, 2017, a distribution of $0.2125 per common share had been declared and was paid in January 2018.

 

B.  There were 9,862 registered holders of record of our common stock as of December 31, 2017. We estimate that our total number of stockholders is over 440,000 when we include both registered and beneficial holders of our common stock.

 

C.  During the fourth quarter of 2017, the following shares of stock were withheld for state and federal payroll taxes on the vesting of employee stock awards, as permitted under the 2012 Incentive Award Plan of Realty Income Corporation:

 

·     60 shares of stock, at a weighted average price of $57.18, in October 2017;

·     10,993 shares of stock, at a weighted average price of $56.25, in November 2017; and

·     244 shares of stock, at a weighted average price of $55.56, in December 2017.

 

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Item 6:                              Selected Financial Data

(not covered by Report of Independent Registered Public Accounting Firm)

(dollars in thousands, except for per share data)

 

The following table sets forth our selected historical consolidated financial information for each of the five years in the period ended December 31, 2017. The statements of income data, the statements of equity data, the statements of cash flows data and the other data for the years ended December 31, 2017, 2016 and 2015 and the balance sheet data as of December 31, 2017 and 2016 were derived from our audited consolidated financial statements included elsewhere in this Form 10-K. The statements of income data, the statements of equity data, the statements of cash flows data and the other data for the years ended December 31, 2014 and 2013, and the balance sheet data as of December 31, 2015, 2014 and 2013 were derived from our audited consolidated financial statements that are not included in this Form 10-K.

 

Additionally, we have amended our historical presentation of net cash provided by operating activities and net change in cash, cash equivalents and restricted stock for the years ended December 31, 2016, 2015, 2014 and 2013 to incorporate the requirements of ASU 2016-18, which requires a statement of cash flows to explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents.

 

The selected financial data presented below is not necessarily indicative of results of future operations and should be read in conjunction with our consolidated financial statements and the information included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Form 10-K.

 

As of or for the years ended December 31,

 

2017

 

2016

 

2015

 

2014

 

2013

 

Total assets (book value)

 

$

14,058,166

 

$

13,152,871

 

$

11,845,379

 

$

10,989,349

 

$

9,903,118

 

Cash and cash equivalents

 

6,898

 

9,420

 

40,294

 

3,852

 

10,257

 

Total debt

 

6,111,471

 

5,839,605

 

4,820,995

 

4,907,673

 

4,145,517

 

Total liabilities

 

6,667,458

 

6,365,818

 

5,292,046

 

5,348,249

 

4,481,760

 

Total equity

 

7,390,708

 

6,787,053

 

6,553,333

 

5,641,099

 

5,421,358

 

Net cash provided by operating activities

 

875,850

 

799,863

 

693,567

 

617,768

 

522,656

 

Net change in cash, cash equivalents and restricted cash

 

(3,539

)

(34,652

)

4,152

 

20,211

 

18,917

 

Total revenue

 

1,215,768

 

1,103,172

 

1,023,285

 

933,505

 

780,209

 

Income from continuing operations

 

319,318

 

316,477

 

284,855

 

269,140

 

180,613

 

Income from discontinued operations

 

-

 

-

 

-

 

2,800

 

65,670

 

Net income

 

319,318

 

316,477

 

284,855

 

271,940

 

246,283

 

Preferred stock dividends

 

(3,911

)

(27,080

)

(27,080

)

(37,062

)

(41,930

)

Excess of redemption value over carrying value of preferred shares redeemed

 

(13,373

)

-

 

-

 

(6,015

)

-

 

Net income available to common stockholders

 

301,514

 

288,491

 

256,686

 

227,558

 

203,634

 

Cash distributions paid to common stockholders

 

689,294

 

610,516

 

533,238

 

479,256

 

409,222

 

Basic and diluted net income per common share

 

1.10

 

1.13

 

1.09

 

1.04

 

1.06

 

Cash distributions paid per common share

 

2.527000

 

2.391500

 

2.271417

 

2.191625

 

2.147459

 

Cash distributions declared per common share

 

2.537000

 

2.403000

 

2.279000

 

2.192875

 

2.177875

 

Basic weighted average number of common shares outstanding

 

273,465,680

 

255,066,500

 

235,767,932

 

218,390,885

 

191,754,857

 

Diluted weighted average number of common shares outstanding

 

273,936,752

 

255,624,250

 

236,208,390

 

218,767,885

 

191,781,622

 

 

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Item 7:                              Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

GENERAL

 

Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly dividends that increase over time.  The company is structured as a real estate investment trust, or REIT, requiring it annually to distribute at least 90% of its taxable income (excluding net capital gains) in the form of dividends to its stockholders.  The monthly dividends are supported by the cash flow generated from real estate owned under long-term, net lease agreements with regional and national commercial tenants.  The company has in-house acquisition, portfolio management, asset management, real estate research, credit research, legal, finance and accounting, information technology and capital markets capabilities.

Realty Income was founded in 1969, and listed on the New York Stock Exchange (NYSE: O) in 1994.  Over the past 49 years, Realty Income has been acquiring and managing freestanding commercial properties that generate rental revenue under long-term net lease agreements.  The company is a member of the S&P High Yield Dividend Aristocrats® index for having increased its dividend every year for more than 20 consecutive years.

 

At December 31, 2017, we owned a diversified portfolio:

·     Of 5,172 properties;

·     With an occupancy rate of 98.4%, or 5,089 properties leased and 83 properties available for lease;

·     Leased to 249 different commercial tenants doing business in 47 separate industries;

·     Located in 49 states and Puerto Rico;

·     With over 89.6 million square feet of leasable space; and

·     With an average leasable space per property of approximately 17,320 square feet; approximately 12,060 square feet per retail property and 224,340 square feet per industrial property.

 

Of the 5,172 properties in the portfolio, 5,144, or 99.5%, are single-tenant properties, and the remaining are multi-tenant properties. At December 31, 2017, of the 5,144 single-tenant properties, 5,062 were leased with a weighted average remaining lease term (excluding rights to extend a lease at the option of the tenant) of approximately 9.5 years.

 

LIQUIDITY AND CAPITAL RESOURCES

 

Capital Philosophy

Historically, we have met our long-term capital needs by issuing common stock, preferred stock and long-term unsecured notes and bonds. Over the long term, we believe that common stock should be the majority of our capital structure; however, we may issue additional preferred stock or debt securities. We may issue common stock when we believe that our share price is at a level that allows for the proceeds of any offering to be accretively invested into additional properties. In addition, we may issue common stock to permanently finance properties that were initially financed by our credit facility or debt securities. However, we cannot assure you that we will have access to the capital markets at all times and at terms that are acceptable to us.

Our primary cash obligations, for the current year and subsequent years, are included in the “Table of Obligations,” which is presented later in this section. We expect to fund our operating expenses and other short-term liquidity requirements, including property acquisitions and development costs, payment of principal and interest on our outstanding indebtedness, property improvements, re-leasing costs and cash distributions to common and preferred stockholders, primarily through cash provided by operating activities, borrowing on our credit facility and periodically through public securities offerings.

 

Conservative Capital Structure

We believe that our stockholders are best served by a conservative capital structure. Therefore, we seek to maintain a conservative debt level on our balance sheet and solid interest and fixed charge coverage ratios. At December 31, 2017, our total outstanding borrowings of senior unsecured notes and bonds, term loans, mortgages payable and credit facility borrowings were $6.13 billion, or approximately 27.4% of our total market capitalization of $22.36 billion.

 

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We define our total market capitalization at December 31, 2017 as the sum of:

·     Shares of our common stock outstanding of 284,213,685, plus total common units outstanding of 405,204, multiplied by the last reported sales price of our common stock on the NYSE of $57.02 per share on December 31, 2017, or $16.23 billion;

·     Outstanding borrowings of $110.0 million on our credit facility;

·     Outstanding mortgages payable of $320.3 million, excluding net mortgage premiums of $5.9 million and deferred financing costs of $236,000;

·     Outstanding borrowings of $445.9 million on our term loans, excluding deferred financing costs of $580,000; and

·     Outstanding senior unsecured notes and bonds of $5.25 billion, excluding unamortized net original issuance premiums of $14.3 million and deferred financing costs of $34.1 million.

 

Universal Shelf Registration

In December 2015, we filed a shelf registration statement with the SEC, which is effective for a term of three years and will expire in December 2018. In accordance with SEC rules, the amount of securities to be issued pursuant to this shelf registration statement was not specified when it was filed and there is no specific dollar limit. The securities covered by this registration statement include (1) common stock, (2) preferred stock, (3) debt securities, (4) depositary shares representing fractional interests in shares of preferred stock, (5) warrants to purchase debt securities, common stock, preferred stock, or depositary shares, and (6) any combination of these securities. We may periodically offer one or more of these securities in amounts, prices and on terms to be announced when and if these securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of any offering.

 

At-the-Market (ATM) Programs

In September 2015, we established an “at-the-market” equity distribution program, or our prior ATM program, pursuant to which we were permitted to offer and sell up to 12,000,000 shares of common stock to, or through, a consortium of banks acting as our sales agents by means of ordinary brokers’ transactions on the NYSE at prevailing market prices or at negotiated prices. In October 2017, following the issuance and sale of the remaining shares under our prior ATM program, we established a new “at-the-market” equity distribution plan, or our new ATM program and, together with our prior ATM program, our ATM programs, pursuant to which we are permitted to offer and sell up to 17,000,000 additional shares of common stock. During 2017, we issued 10,914,088 shares and raised gross proceeds of $621.7 million under our ATM programs. From the inception of our ATM programs through December 31, 2017, we have issued 14,407,529 shares authorized by our ATM programs and raised $824.8 million.

 

Issuance of Common Stock

In March 2017, we issued 11,850,000 shares of common stock.  After underwriting discounts and other offering costs of $29.8 million, the net proceeds of $704.9 million were used to repay borrowings under our credit facility.

 

Dividend Reinvestment and Stock Purchase Plan

Our Dividend Reinvestment and Stock Purchase Plan, or our DRSPP, provides our common stockholders, as well as new investors, with a convenient and economical method of purchasing our common stock and reinvesting their distributions.  Our DRSPP also allows our current stockholders to buy additional shares of common stock by reinvesting all or a portion of their distributions.  Our DRSPP authorizes up to 26,000,000 common shares to be issued.  Our DRSPP includes a waiver approval process, allowing larger investors or institutions, per a formal approval process, to purchase shares at a small discount, if approved by us. During 2017, we issued 1,193,653 shares and raised approximately $69.9 million under our DRSPP, of which we issued 927,695 shares and raised $54.7 million under the waiver approval process.

 

$2.0 Billion Revolving Credit Facility

We have a $2.0 billion unsecured revolving credit facility, or our credit facility, with an initial term that expires in June 2019 and includes, at our option, two six-month extensions. Our credit facility has a $1.0 billion accordion expansion option.  Under our credit facility, our investment grade credit ratings as of December 31, 2017 provide for financing at the London Interbank Offered Rate, commonly referred to as LIBOR, plus 0.85%, with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.975% over LIBOR. The borrowing rate is subject to an interest rate floor and may change if our investment grade credit ratings were to change. We also have other interest rate options available to us under our credit facility. Our credit facility is unsecured and, accordingly, we have not pledged any assets as collateral for this obligation.

 

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At December 31, 2017, we had a borrowing capacity of $1.89 billion available on our credit facility and an outstanding balance of $110.0 million.  The weighted average interest rate on borrowings outstanding at December 31, 2017, was 4.5% per annum.  We must comply with various financial and other covenants in our credit facility.  At December 31, 2017, we were in compliance with these covenants. We expect to use our credit facility to acquire additional properties and for other general corporate purposes. Any additional borrowings will increase our exposure to interest rate risk.

 

We generally use our credit facility for the short-term financing of new property acquisitions. Thereafter, we generally seek to refinance those borrowings with the net proceeds of long-term or permanent financing, which may include the issuance of common stock, preferred stock or debt securities. We cannot assure you, however, that we will be able to obtain any such refinancing, or that market conditions prevailing at the time of the refinancing will enable us to issue equity or debt securities at acceptable terms. We regularly review our credit facility and may seek to extend, renew or replace our credit facility, to the extent we deem appropriate.

 

Term Loans

In December 2017, in conjunction with the acquisition of a portfolio of properties, we entered into a $125.9 million promissory note, maturing in January 2018. Borrowings under this note bore interest at 1.52%. This note was paid in full at maturity.

 

In June 2015, in conjunction with entering into our credit facility, we entered into a $250 million senior unsecured term loan maturing on June 30, 2020.  Borrowing under this term loan bears interest at the current one-month LIBOR, plus 0.90%.  In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.62%.

 

In January 2013, in conjunction with our acquisition of American Realty Capital Trust, Inc., or ARCT, we entered into a $70 million senior unsecured term loan with an initial maturity date of January 2018.  Borrowing under this term loan bears interest at the current one-month LIBOR, plus 1.10%.  In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.05%. In January 2018, we entered into a six-month extension of this loan, which now matures in July 2018 and includes, at our option, two additional six-month extensions. Borrowing during the extension periods bear interest at the current one-month LIBOR, plus 0.90%. The interest rate swap terminated upon the initial maturity in January 2018.

 

Mortgage Debt

As of December 31, 2017, we had $320.3 million of mortgages payable, all of which were assumed in connection with our property acquisitions.  Additionally, at December 31, 2017, we had net premiums totaling $5.9 million on these mortgages and deferred financing costs of $236,000.  We expect to pay off the mortgages payable as soon as prepayment penalties have declined to a level that would make it economically feasible to do so.  During 2017, we made $139.7 million of principal payments, including the repayment of eight mortgages in full for $133.5 million.

 

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Notes Outstanding

Our senior unsecured note and bond obligations consist of the following as of December 31, 2017, sorted by maturity date (dollars in millions):

 

2.000% notes, issued in October 2012 and due in January 2018

 

$

350

 

5.750% notes, issued in June 2010 and due in January 2021

 

250

 

3.250% notes, $450 issued in October 2012 and $500 issued in December 2017, both due in October 2022

 

950

 

4.650% notes, issued in July 2013 and due in August 2023

 

750

 

3.875% notes, issued in June 2014 and due in July 2024

 

350

 

4.125% notes, $250 issued in September 2014 and $400 issued in March 2017, both due in October 2026

 

650

 

3.000% notes, issued in October 2016 and due in January 2027

 

600

 

3.650% notes, issued in December 2017 and due in January 2028

 

550

 

5.875% bonds, $100 issued in March 2005 and $150 issued in June 2011, both due in March 2035

 

250

 

4.650% notes, $300 issued in March 2017 and $250 issued in December 2017, both due in March 2047

 

550

 

Total principal amount

 

5,250

 

Unamortized net original issuance premiums and deferred financing costs

 

(20

)

 

 

$

5,230

 

 

During the year ended December 31, 2017 we issued the following notes (dollars in millions):

 

Issuances

Date of
Issuance

 

Maturity date

 

Principal
amount
issued

 

Public
offering
price

 

Effective yield to
maturity

4.125% notes

March 2017

 

October 2026 (1)

$

 

400

 

102.98%

 

3.75%

4.650% notes

March 2017

 

March 2047

 

300

 

99.97%

 

4.65%

3.250% notes

December 2017

 

October 2022 (2)

 

500

 

101.77%

 

2.84%

3.650% notes

December 2017

 

January 2028

 

550

 

99.78%

 

3.68%

4.650% notes

December 2017

 

March 2047 (3)

 

250

 

105.43%

 

4.32%

 

(1)This issuance constitutes a further issuance of, and formed a single series with the senior notes due 2026 issued in September 2014.

(2)This issuance constituted a further issuance of, and formed a single series with the senior notes due 2022 issued in October 2012.

(3)This issuance constituted a further issuance of, and formed a single series with the senior notes due 2047 issued in March 2017.

 

The net proceeds of $1.3 billion from the December 2017 note offerings were used to redeem all $550.0 million aggregate principal amount of our outstanding 2019 notes, including accrued and unpaid interest, and to repay borrowings outstanding under our $2.0 billion revolving credit facility and, to the extent not used for those purposes, to fund the development and acquisitions of additional properties and for other general corporate purposes. The net proceeds of $705.2 million from the March 2017 note offerings were used to repay borrowings outstanding under our credit facility to fund investment opportunities and for other general corporate purposes.

 

In December 2017, we completed the early redemption on all $550.0 million of outstanding 6.75% notes due August 2019, plus accrued and unpaid interest. As a result of the early redemption, we recognized a $42.4 million loss on extinguishment of debt, which represents $0.15 on a diluted per common share basis.

 

In September 2017, we repaid our $175.0 million of outstanding 5.375% notes, plus accrued and unpaid interest.

 

All of our outstanding notes and bonds have fixed interest rates and contain various covenants, with which we remained in compliance as of December 31, 2017. Additionally, interest on all of our senior note and bond obligations is paid semiannually.

 

The following is a summary of the key financial covenants for our senior unsecured notes, as defined and calculated per the terms of our senior notes and bonds. These calculations, which are not based on U.S. GAAP measurements, are presented to investors to show our ability to incur additional debt under the terms of our senior notes and bonds as well as to disclose our current compliance with such covenants, and are not measures of our liquidity or performance.  The actual amounts as of December 31, 2017 are:

 

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Table of Contents

 

Note Covenants

 

Required

 

Actual

 

Limitation on incurrence of total debt

< 60% of adjusted assets

40.6%

Limitation on incurrence of secured debt

< 40% of adjusted assets

2.2%

Debt service coverage (trailing 12 months)(1)

> 1.5 x

4.8x

Maintenance of total unencumbered assets

> 150% of unsecured debt

249.6%

 

(1) Our debt service coverage ratio is calculated on a pro forma basis for the preceding four-quarter period on the assumptions that: (i) the incurrence of any Debt (as defined in the covenants) incurred by us since the first day of such four-quarter period and the application of the proceeds therefrom (including to refinance other Debt since the first day of such four-quarter period), (ii) the repayment or retirement of any of our Debt since the first day of such four-quarter period, and (iii) any acquisition or disposition by us of any asset or group since the first day of such four quarters had in each case occurred on January 1, 2017, and subject to certain additional adjustments.  Such pro forma ratio has been prepared on the basis required by that debt service covenant, reflects various estimates and assumptions and is subject to other uncertainties, and therefore does not purport to reflect what our actual debt service coverage ratio would have been had transactions referred to in clauses (i), (ii) and (iii) of the preceding sentence occurred as of January 1, 2017, nor does it purport to reflect our debt service coverage ratio for any future period.  Our fixed charge coverage ratio is calculated in exactly the same manner as our debt service coverage ratio, except that preferred stock dividends are also added to the denominator; since we redeemed our Class F preferred dividends in April 2017, our fixed charge coverage ratio is equivalent to our debt service coverage ratio. The following is our calculation of debt service and fixed charge coverage at December 31, 2017 (in thousands, for trailing twelve months):

 

Net income attributable to the Company

$

318,798

 

Plus: interest expense (1)

 

280,981

 

Plus: provision for taxes

 

6,044

 

Plus: depreciation and amortization

 

498,788

 

Plus: provisions for impairment

 

14,751

 

Plus: pro forma adjustments

 

49,400

 

Less: gain on sales of real estate

 

(40,898

)

Income available for debt service, as defined

$

1,127,864

 

Total pro forma debt service charge

$

236,957

 

Debt service and fixed charge coverage ratio

 

4.8

 

 

(1) Interest expense includes a loss of $42.4 million related to the extinguishment of debt.

 

Cash Reserves

We are organized to operate as an equity REIT that acquires and leases properties and distributes to stockholders, in the form of monthly cash distributions, a substantial portion of our net cash flow generated from leases on our properties.  We intend to retain an appropriate amount of cash as working capital.  At December 31, 2017, we had cash and cash equivalents totaling $6.9 million.

 

We believe that our cash and cash equivalents on hand, cash provided from operating activities, and borrowing capacity is sufficient to meet our liquidity needs for the next twelve months.  We intend, however, to use permanent or long-term capital to fund property acquisitions and to repay future borrowings under our credit facility.

 

Credit Agency Ratings

The borrowing interest rates under our credit facility are based upon our ratings assigned by credit rating agencies. As of December 31, 2017, we were assigned the following investment grade corporate credit ratings on our senior unsecured notes and bonds:  Moody’s Investors Service has assigned a rating of A3 with a “stable” outlook, Standard & Poor’s Ratings Group has assigned a rating of BBB+ with a “positive” outlook, and Fitch Ratings has assigned a rating of BBB+ with a “stable” outlook.

 

Based on our ratings as of December 31, 2017, the facility interest rate as of December 31, 2017 was LIBOR, plus 0.85% with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.975% over LIBOR.  Our credit facility provides that the interest rate can range between: (i) LIBOR, plus 1.55% if our credit rating is lower than BBB-/Baa3 or unrated and (ii) LIBOR, plus 0.85% if our credit rating is A-/A3 or higher.  In addition, our credit facility provides for a facility commitment fee based on our credit ratings, which range from: (i) 0.30% for a rating lower than BBB-/Baa3 or unrated, and (ii) 0.125% for a credit rating of A-/A3 or higher.

 

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We also issue senior debt securities from time to time and our credit ratings can impact the interest rates charged in those transactions.  If our credit ratings or ratings outlook change, our cost to obtain debt financing could increase or decrease. The credit ratings assigned to us could change based upon, among other things, our results of operations and financial condition. These ratings are subject to ongoing evaluation by credit rating agencies and we cannot assure you that our ratings will not be changed or withdrawn by a rating agency in the future if, in its judgment, circumstances warrant. Moreover, a rating is not a recommendation to buy, sell or hold our debt securities, preferred stock or common stock.

 

Table of Obligations

The following table summarizes the maturity of each of our obligations as of December 31, 2017 (dollars in millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

Ground

 

Ground

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leases

 

Leases

 

 

 

 

 

 

 

 

 

Notes

 

 

 

 

 

 

 

Paid by

 

Paid by

 

 

 

 

 

Year of

 

Credit

 

and

 

Term

 

Mortgages

 

 

 

Realty

 

Our

 

 

 

 

 

Maturity

 

Facility

(1)

Bonds

(2)

Loan

(3)

Payable

(4)

Interest

(5)

Income

(6)

Tenants

(7)

Other

(8)

Totals

 

2018

 

$

-

 

$

350.0

 

$

195.9

 

$

21.9

 

$

217.7

 

$

1.7

 

$

13.5

 

$

78.2

 

$

878.9

 

2019

 

110.0

 

-

 

-

 

20.7

 

224.3

 

1.5

 

13.4

 

-

 

369.9

 

2020

 

-

 

-

 

250.0

 

82.4

 

217.2

 

1.4

 

13.2

 

-

 

564.2

 

2021

 

-

 

250.0

 

-

 

67.0

 

199.9

 

1.2

 

12.9

 

-

 

531.0

 

2022

 

-

 

950.0

 

-

 

109.7

 

189.2

 

1.2

 

12.8

 

-

 

1,262.9

 

Thereafter

 

-

 

3,700.0

 

-

 

18.6

 

1,175.7

 

20.9

 

94.1

 

-

 

5,009.3

 

Totals

 

$

110.0

 

$

5,250.0

 

$

445.9

 

$

320.3

 

$

2,224.0

 

$

27.9

 

$

159.9

 

$

78.2

 

$

8,616.2

 

 

(1)  The initial term of the credit facility expires in June 2019 and includes, at our option, two six-month extensions.

(2)  Excludes non-cash net original issuance premiums recorded on notes payable. The unamortized balance of the net original issuance premiums at December 31, 2017 is $14.3 million. Also excludes deferred financing costs of $34.1 million.

(3)  Excludes deferred financing costs of $580,000.

(4)  Excludes non-cash net premiums recorded on the mortgages payable.  The unamortized balance of these net premiums at December 31, 2017, is $5.9 million. Also excludes deferred financing costs of $236,000.

(5)  Interest on the term loans, notes, bonds, mortgages payable, and credit facility has been calculated based on outstanding balances as of December 31, 2017 through their respective maturity dates.

(6)  Realty Income currently pays the ground lessors directly for the rent under the ground leases.

(7)  Our tenants, who are generally sub-tenants under ground leases, are responsible for paying the rent under these ground leases. In the event a tenant fails to pay the ground lease rent, we are primarily responsible.

(8)  “Other” consists of $64.4 million of commitments under construction contracts and $13.8 million of commitments for tenant improvements and leasing costs.

 

Our credit facility, term loans, and notes payable obligations are unsecured. Accordingly, we have not pledged any assets as collateral for these obligations.

 

No Unconsolidated Investments

We have no unconsolidated investments, nor do we engage in trading activities involving energy or commodity contracts.

 

Impact of Real Estate and Credit Markets

In the commercial real estate market, property prices generally continue to fluctuate. Likewise, during certain periods, the U.S. credit markets have experienced significant price volatility, dislocations, and liquidity disruptions, which may impact our access to and cost of capital. We continually monitor the commercial real estate and U.S. credit markets carefully and, if required, will make decisions to adjust our business strategy accordingly.

 

Acquisitions During 2017

During 2017, we invested $1.52 billion in 303 new properties and properties under development or expansion, with an estimated initial weighted average contractual lease rate of 6.4%. The 303 new properties and properties under development or expansion are located in 40 states, will contain approximately 7.8 million leasable square feet, and are 100% leased with a weighted average lease term of 14.4 years. The tenants occupying the new properties operate in 23 industries and the property types are 94.5% retail and 5.5% industrial, based on rental revenue.  During 2017, none of our real estate investments caused any one tenant to be 10% or more of our total assets at December 31, 2017.

 

The estimated initial weighted average contractual lease rate for a property is generally computed as estimated contractual net operating income, which, in the case of a net leased property, is equal to the aggregate base rent for the first full year of each lease, divided by the total cost of the property.  Since it is possible that a tenant could default on the payment of contractual rent, we cannot provide assurance that the actual return on the funds invested will remain at the percentages listed above.

 

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In the case of a property under development or expansion, the contractual lease rate is generally fixed such that rent varies based on the actual total investment in order to provide a fixed rate of return.  When the lease does not provide for a fixed rate of return on a property under development or expansion, the estimated initial weighted average contractual lease rate is computed as follows: estimated net operating income (determined by the lease) for the first full year of each lease, divided by our projected total investment in the property, including land, construction and capitalized interest costs. Of the $1.52 billion we invested during 2017, $21.2 million was invested in 17 properties under development or expansion with an estimated initial weighted average contractual lease rate of 6.9%.  We may continue to pursue development or expansion opportunities under similar arrangements in the future.

 

Portfolio Discussion

Leasing Results

At December 31, 2017, we had 83 properties available for lease out of 5,172 properties in our portfolio, which represents a 98.4% occupancy rate based on the number of properties in our portfolio. Since December 31, 2016, when we reported 84 properties available for lease out of 4,944 and a 98.3% occupancy rate, we:

 

·                  Had 297 lease expirations (including leases rejected in bankruptcy);

·                  Re-leased 259 properties; and

·                  Sold 39 vacant properties.

 

Of the 259 properties re-leased during 2017, 235 properties were re-leased to existing tenants, nine were re-leased to new tenants without vacancy, and 15 were re-leased to new tenants after a period of vacancy.  The annual rent on these 259 leases was $43.18 million, as compared to the previous rent on these same properties of $40.92 million, which represents a rent recapture rate of 105.5% on the properties re-leased during 2017.

 

As part of our re-leasing costs, we pay leasing commissions to unrelated, 3rd party real estate brokers consistent with the commercial real estate industry standard, and sometimes provide tenant rent concessions. We do not consider the collective impact of the leasing commissions or tenant rent concessions to be material to our financial position or results of operations.

 

At December 31, 2017, our average annualized rental revenue was approximately $13.77 per square foot on the 5,089 leased properties in our portfolio.  At December 31, 2017, we classified nine properties with a carrying amount of $6.7 million as held for sale on our balance sheet.  The expected sale of these properties does not represent a strategic shift that will have a major effect on our operations and financial results and is consistent with our active disposition efforts to further enhance our real estate portfolio and maximize portfolio returns.

 

Investments in Existing Properties

In 2017, we capitalized costs of $12.7 million on existing properties in our portfolio, consisting of $1.6 million for re-leasing costs, $912,000 for recurring capital expenditures and $10.2 million for non-recurring building improvements. In 2016, we capitalized costs of $16.3 million on existing properties in our portfolio, consisting of $797,000 for re-leasing costs, $679,000 for recurring capital expenditures, and $14.9 million for non-recurring building improvements.

 

The majority of our building improvements relate to roof repairs, HVAC improvements, and parking lot resurfacing and replacements. The amounts of our capital expenditures can vary significantly, depending on the rental market, tenant credit worthiness, the lease term and the willingness of tenants to pay higher rents over the terms of the leases.

 

We define recurring capital expenditures as mandatory and repetitive landlord capital expenditure obligations that have a limited useful life. We define non-recurring capital expenditures as property improvements where we invest additional capital that extend the useful life of the property.

 

Increases in Monthly Dividends to Common Stockholders

We have continued our 49-year policy of paying monthly dividends. In addition, we increased the dividend five times during 2017 and twice in 2018.  As of February 2018, we have paid 81 consecutive quarterly dividend increases and increased the dividend 95 times since our listing on the NYSE in 1994.

 

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Month

 

Month

 

Dividend

 

Increase

2017 Dividend increases

 

Declared

 

Paid

 

per share

 

per share

1st increase

 

Dec 2016

 

Jan 2017

 

0.2025

 

$

0.0005

2nd increase

 

Jan 2017

 

Feb 2017

 

0.2105

 

$

0.0080

3rd increase

 

Mar 2017

 

Apr 2017

 

0.2110

 

$

0.0005

4th increase

 

Jun 2017

 

Jul 2017

 

0.2115

 

$

0.0005

5th increase

 

Sep 2017

 

Oct 2017

 

0.2120

 

$

0.0005

 

 

 

 

 

 

 

 

 

2018 Dividend increases

 

 

 

 

 

 

 

 

1st increase

 

Dec 2017

 

Jan 2018

 

0.2125

 

$

0.0005

2nd increase

 

Jan 2018

 

Feb 2018

 

0.2190

 

$

0.0065

 

The dividends paid per share during 2017 totaled approximately $2.527, as compared to approximately $2.392 during 2016, an increase of $0.135, or 5.6%.

 

The monthly dividend of $0.219 per share represents a current annualized dividend of $2.628 per share, and an annualized dividend yield of approximately 4.6% based on the last reported sale price of our common stock on the NYSE of $57.02 on December 31, 2017. Although we expect to continue our policy of paying monthly dividends, we cannot guarantee that we will maintain our current level of dividends, that we will continue our pattern of increasing dividends per share, or what our actual dividend yield will be in any future period.

 

RESULTS OF OPERATIONS

 

Critical Accounting Policies

Our consolidated financial statements have been prepared in accordance with GAAP, and are the basis for our discussion and analysis of financial condition and results of operations. Preparing our consolidated financial statements requires us to make a number of estimates and assumptions that affect the reported amounts and disclosures in the consolidated financial statements. We believe that we have made these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition. We continually test and evaluate these estimates and assumptions using our historical knowledge of the business, as well as other factors, to ensure that they are reasonable for reporting purposes. However, actual results may differ from these estimates and assumptions. This summary should be read in conjunction with the more complete discussion of our accounting policies and procedures included in note 2 to our consolidated financial statements.

 

In order to prepare our consolidated financial statements according to the rules and guidelines set forth by GAAP, many subjective judgments must be made with regard to critical accounting policies. Management must make significant assumptions in determining the fair value of assets acquired and liabilities assumed.  When acquiring a property for investment purposes, we typically allocate the cost of real estate acquired, inclusive of transaction costs, to: (1) land, (2) building and improvements, and (3) identified intangible assets and liabilities, based in each case on their relative estimated fair values. Intangible assets and liabilities consist of above-market or below-market lease value of in-place leases, the value of in-place leases.  In an acquisition of multiple properties, we must also allocate the purchase price among the properties.  The allocation of the purchase price is based on our assessment of estimated fair value and is often based upon the expected future cash flows of the property and various characteristics of the market where the property is located.  In addition, any assumed mortgages receivable or payable are recorded at their estimated fair values. The estimated fair values of our mortgages payable have been calculated by discounting the future cash flows using applicable interest rates that have been adjusted for factors, such as industry type, tenant investment grade, maturity date, and comparable borrowings for similar assets. The use of different assumptions in the allocation of the purchase price of the acquired properties and liabilities assumed could affect the timing of recognition of the related revenue and expenses.

 

Another significant judgment must be made as to if, and when, impairment losses should be taken on our properties when events or a change in circumstances indicate that the carrying amount of the asset may not be recoverable. A provision is made for impairment if estimated future operating cash flows (undiscounted and without interest charges) plus estimated disposition proceeds (undiscounted) are less than the current book value of the property. Key inputs that we utilize in this analysis include projected rental rates, estimated holding periods, historical sales and releases, capital expenditures, and property sales capitalization rates. If a property

 

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is held for sale, it is carried at the lower of carrying cost or estimated fair value, less estimated cost to sell. The carrying value of our real estate is the largest component of our consolidated balance sheets. Our strategy of primarily holding properties, long-term, directly decreases the likelihood of their carrying values not being recoverable, thus requiring the recognition of an impairment. However, if our strategy, or one or more of the above assumptions were to change in the future, an impairment may need to be recognized. If events should occur that require us to reduce the carrying value of our real estate by recording provisions for impairment, they could have a material impact on our results of operations.

 

The following is a comparison of our results of operations for the years ended December 31, 2017, 2016 and 2015.

 

Total Revenue

The following summarizes our total revenue (dollars in thousands):

 

 

 

 

 

 

 

 

 

Change in Dollars

 

 

 

2017

 

2016

 

2015

 

2017
versus
2016

 

2016
versus
2015

 

REVENUE

 

 

 

 

 

 

 

 

 

 

 

Rental

 

$

1,166,224

 

$

1,057,413

 

$

976,865

 

$

108,811

 

$

80,548

 

Tenant reimbursements

 

46,082

 

43,104

 

42,015

 

2,978

 

1,089

 

Other

 

3,462

 

2,655

 

4,405

 

807

 

(1,750

)

Total revenue

 

$

1,215,768

 

$

1,103,172

 

$

1,023,285

 

$

112,596

 

$

79,887

 

 

Rental Revenue

The increase in rental revenue in 2017 compared to 2016 is primarily attributable to:

·     The 287 properties (7.2 million square feet) we acquired in 2017, which generated $35.8 million of rent in 2017;

·     The 475 properties (7.6 million square feet) we acquired in 2016, which generated $114.4 million of rent in 2017, compared to $39.7 million in 2016, an increase of $74.7 million;

·     Same store rents generated on 4,254 properties (71.1 million square feet) during 2017 and 2016, increased by $9.8 million, or 1.0%, to $973.1 million from $963.3 million; partially offset by

·     A net decrease in straight-line rent and other non-cash adjustments to rent of $3.0 million in 2017 as compared to 2016; and

·     A net decrease of $7.2 million relating to properties sold in 2017 and during 2016; and

·     A net decrease of $1.3 million relating to the aggregate of (i) rental revenue from properties (147 properties comprising 2.9 million square feet) that were available for lease during part of 2017 or 2016, (ii) rental revenue for 9 properties under development, and (iii) lease termination settlements.  In aggregate, the revenues for these items totaled $26.6 million in 2017, compared to $28.0 million in 2016.

 

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The increase in rental revenue in 2016 compared to 2015 is primarily attributable to:

 

·     The 475 properties (7.6 million square feet) we acquired in 2016, which generated $39.7 million of rent in 2016;

·     The 254 properties (5.6 million square feet) we acquired in 2015, which generated $80.3 million of rent in 2016, compared to $41.9 million in 2015, an increase of $38.4 million;

·     Same store rents generated on 4,045 properties (66.5 million square feet) during 2016 and 2015, increased by $10.15 million, or 1.2%, to $888.51 million from $878.36 million; and

·     A net increase in straight-line rent and other non-cash adjustments to rent of $959,000 in 2016 as compared to 2015; partially offset by

·     A net decrease of $7.1 million relating to properties sold in 2016 and during 2015; and

·     A net decrease of $1.6 million relating to the aggregate of (i) rental revenue from properties (131 properties comprising 1.5 million square feet) that were available for lease during part of 2016 or 2015, (ii) rental revenue for 24 properties under development, and (iii) lease termination settlements.  In aggregate, the revenues for these items totaled $33.3 million in 2016, compared to $34.9 million in 2015.

 

For purposes of determining the same store rent property pool, we include all properties that were owned for the entire year-to-date period, for both the current and prior year, except for properties during the current or prior year that; (i) were vacant at any time, (ii) were under development or redevelopment, or (iii) were involved in eminent domain and rent was reduced. Each of the exclusions from the same store pool are separately addressed within the applicable sentences above, explaining the changes in rental revenue for the period.

Of the 5,172 properties in the portfolio at December 31, 2017, 5,144, or 99.5%, are single-tenant properties and the remaining are multi-tenant properties. Of the 5,144 single-tenant properties, 5,062, or 98.4%, were net leased with a weighted average remaining lease term (excluding rights to extend a lease at the option of the tenant) of approximately 9.5 years at December 31, 2017. Of our 5,062 leased single-tenant properties, 4,468 or 88.3% were under leases that provide for increases in rents through:

 

·                  Base rent increases tied to a consumer price index (typically subject to ceilings);

·                  Percentage rent based on a percentage of the tenants’ gross sales;

·                  Fixed increases; or

·                  A combination of two or more of the above rent provisions.

 

Percentage rent, which is included in rental revenue, was $6.1 million in 2017, $5.3 million in 2016, and $4.5 million in 2015.  Percentage rent in 2017 was less than 1% of rental revenue and we anticipate percentage rent to be less than 1% of rental revenue in 2018.

 

Our portfolio of real estate, leased primarily to regional and national tenants under net leases, continues to perform well and provides dependable lease revenue supporting the payment of monthly dividends to our stockholders.  At December 31, 2017, our portfolio of 5,172 properties was 98.4% leased with 83 properties available for lease, as compared to 98.3% leased, with 84 properties available for lease at December 31, 2016. It has been our experience that approximately 1% to 4% of our property portfolio will be unleased at any given time; however, it is possible that the number of properties available for lease could exceed these levels in the future.

 

Tenant Reimbursements

A number of our leases provide for contractually obligated reimbursements from tenants for recoverable real estate taxes and operating expenses. The increase in tenant reimbursements in the years presented is primarily due to our increase in acquisitions.

 

Other Revenue

The decrease in other revenue in 2016 compared to 2015 was primarily attributed to a large amount of proceeds received related to condemnations in 2015.

 

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Total Expenses

The following summarizes our total expenses (dollars in thousands):

 

 

 

 

 

 

 

 

 

Change in Dollars

 

 

 

2017

 

2016

 

2015

 

2017
versus
2016

 

2016
versus
2015

 

EXPENSES

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

$498,788

 

$449,943

 

$409,215

 

$48,845

 

$40,728

 

Interest

 

247,413

 

219,974

 

233,079

 

27,439

 

(13,105

)

General and administrative

 

58,446

 

51,966

 

49,298

 

6,480

 

2,668

 

Property (excluding reimbursable)

 

23,398

 

19,761

 

13,337

 

3,637

 

6,424

 

Property - reimbursable

 

46,082

 

43,104

 

42,015

 

2,978

 

1,089

 

Income taxes

 

6,044

 

3,262

 

3,169

 

2,782

 

93

 

Provisions for impairment

 

14,751

 

20,664

 

10,560

 

(5,913

)

10,104

 

 

 

 

 

 

 

 

 

 

 

 

 

Total expenses

 

$894,922

 

$808,674

 

$760,673

 

$86,248

 

$48,001

 

 

(1) Excludes tenant reimbursements revenue.

 

Depreciation and Amortization

The increase in depreciation and amortization in 2017 and 2016 was primarily due to the acquisition of properties in 2016 and 2017, which was partially offset by property sales in those same periods.  As discussed in the sections entitled “Funds from Operations Available to Common Stockholders (FFO)” and “Adjusted Funds from Operations Available to Common Stockholders (AFFO),” depreciation and amortization is a non-cash item that is added back to net income available to common stockholders for our calculation of FFO and AFFO.

 

Interest Expense

The following is a summary of the components of our interest expense (dollars in thousands):

 

 

 

2017

 

2016

 

2015

 

Interest on our credit facility, term loans, notes, mortgages and interest rate swaps

 

$

237,165

 

$

213,540

 

$

226,207

 

Credit facility commitment fees

 

2,999

 

3,050

 

2,854

 

Amortization of credit facility origination costs and deferred financing costs

 

8,859

 

8,596

 

8,741

 

(Gain) loss on interest rate swaps

 

(3,250

)

(1,639

)

3,043

 

Dividend on preferred shares subject to redemption

 

2,257

 

-

 

-

 

Amortization of net mortgage premiums

 

(466

)

(3,414

)

(7,482

)

Capital lease obligation

 

310

 

310

 

310

 

Interest capitalized

 

(461

)

(469

)

(594

)

Interest expense

 

$

247,413

 

$

219,974

 

$

233,079

 

 

 

 

 

 

 

 

 

Credit facility, term loans, mortgages and notes

 

 

 

 

 

 

 

Average outstanding balances (dollars in thousands)

 

$

5,877,862

 

$

5,081,663

 

$

5,030,532

 

Average interest rates

 

3.99

%

4.11

%

4.43

%

 

The increase in interest expense from 2016 to 2017 is primarily due to the March 2017 issuance of our 2047 notes and further issuance of our 2026 notes and, to a lesser extent, the December 2017 issuance of our 2028 notes and further issuance of our 2022 notes and 2047 notes. This increase was partially offset by lower outstanding debt balances on mortgages payable as a result of the payoff of mortgages in 2016 and 2017.

 

The decrease in interest expense from 2015 to 2016 was primarily due to lower outstanding debt balances on our notes payable and mortgages payable, resulting from the payoff of $150.0 million of our 2015 Notes during November 2015 and $275.0 million of our 2016 notes during September 2016, as well as the payoff of mortgages throughout 2015 and 2016. This decrease was slightly offset by an increase in interest expense related to the issuance of a $600.0 million note in October 2016.

 

Additionally, each quarter we adjust the carrying value of our interest rate swaps to fair value.  Changes in the fair value of our interest rate swaps are recorded directly to interest expense.

 

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At December 31, 2017, the weighted average interest rate on our:

·     Credit facility outstanding borrowings of $110.0 million was 4.5%;

·     Term loans outstanding of $445.9 million (excluding deferred financing costs of $580,000) was 2.2%;

·     Mortgages payable of $320.3 million (excluding net premiums totaling $5.9 million and deferred financing costs of $236,000 on these mortgages) was 5.0%;

·     Notes and bonds payable of $5.25 billion (excluding unamortized net original issuance premiums of $14.3 million and deferred financing costs of $34.1 million) was 3.9%; and

·     Combined outstanding notes, bonds, mortgages, term loan and credit facility borrowings of $6.13 billion was 3.9%.

 

General and Administrative Expenses

General and administrative expenses increased during 2017 and 2016 primarily due to higher compensation costs and higher headcount. In January 2018, we had 152 employees, as compared to 146 employees in January 2017 and 132 employees in January 2016. General and administrative expense as a percentage of total revenue have remained relatively consistent during the years ended December 31, 2017, 2016, and 2015 at 5.0%, 4.9%, and 5.0%, respectively.

 

Property Expenses (Excluding Reimbursable)

Property expenses consist of costs associated with unleased properties, non-net-leased properties and general portfolio expenses, as well as contractually obligated reimbursable costs from tenants for recoverable real estate taxes and operating expenses. Expenses related to unleased properties and non-net-leased properties include, but are not limited to, property taxes, maintenance, insurance, utilities, property inspections, bad debt expense and legal fees. General portfolio costs include, but are not limited to, insurance, legal, property inspections, and title search fees. At December 31, 2017, 83 properties were available for lease, as compared to 84 at December 31, 2016 and 71 at December 31, 2015. We also incurred higher gross property expenses as a result of property taxes and bad debt expense on vacant properties. Property expenses as a percentage of total revenue have remained relatively consistent during the years ended December 31, 2017, 2016, and 2015 at 2.0%, 1.9%, and 1.4%, respectively.

 

Property Expenses - Reimbursable

The increase in gross property expenses in both 2017 and 2016 was primarily attributable to the increased portfolio size, which contributed to higher contractually obligated reimbursements primarily due to our acquisitions in each year.

 

Income Taxes

Income taxes are for city and state income and franchise taxes paid by us and our subsidiaries. The increase from 2016 to 2017 is primarily due to increased activity in our taxable REIT subsidiary.

 

Provisions for Impairment

In 2017, we recorded total provisions for impairment of $14.8 million on three properties classified as held for sale, five properties classified as held for investment, and 18 sold properties. In 2016, we recorded total provisions for impairment of $20.7 million on four properties classified as held for investment and 35 sold properties. In 2015, we recorded total provisions for impairment of $10.6 million on two properties classified as held for investment, 12 sold properties, and one property disposed of other than by sale.

 

Other Items

 

Gain on Sales of Real Estate

During 2017, we sold 59 properties for $167.0 million, which resulted in a gain of $40.9 million.

 

During 2016, we sold 77 properties for $90.5 million, which resulted in a gain of $22.0 million. Additionally, during 2016 we sold our former corporate headquarters building for $8.6 million.

 

During 2015, we sold 38 properties for $65.8 million, which resulted in a gain of $22.2 million.

 

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At December 31, 2017, we classified real estate with a carrying amount of $6.7 million as held for sale on our balance sheet. In 2018, we intend to continue our active disposition efforts to further enhance our real estate portfolio and anticipate $75 to $100 million in yet to be identified property sales for all of 2018.  We intend to invest these proceeds into new property acquisitions, if there are attractive opportunities available. However, we cannot guarantee that we will sell properties during the next 12 months at our estimated values or be able to invest the property sale proceeds in new properties.

 

Loss on Extinguishment of Debt

In December 2017, we completed the early redemption on all $550.0 million of outstanding 6.75% notes due August 2019, plus accrued and unpaid interest. As a result of the early redemption, we recognized a $42.4 million loss on extinguishment of debt, which represents $0.15 on a diluted per common share basis.

 

Preferred Stock Dividends

Preferred stock dividends totaled $3.9 million in 2017. Additionally, in April 2017, we paid a final dividend on our Class F preferred stock of $1.7 million, which was recorded to interest expense. Preferred stock dividends totaled $27.1 million in 2016 and 2015.

 

Excess of Redemption Value over Carrying Value of Preferred Shares Redeemed

When we issued the irrevocable notice of redemption on our Class F preferred stock in March 2017, we incurred a non-cash charge of $13.4 million for the excess of redemption value over the carrying value. The non-cash charge represents the Class F preferred stock original issuance cost that was paid in 2012.

 

Net Income Available to Common Stockholders

Net income available to common stockholders was $301.5 million in 2017, compared to $288.5 million in 2016, an increase of $13.0 million. On a diluted per common share basis, net income was $1.10 in 2017, as compared to $1.13 in 2016, a decrease of $0.03, or 2.7%. Net income available to common stockholders was $256.7 million in 2015, or $1.09 on a diluted per common share basis. Net income was impacted by a loss of $42.4 million, or $0.15 per share, loss on extinguishment of debt upon the early redemption on all $550.0 million of our outstanding 6.75% notes due August 2019 during December 2017. Net income was also impacted by a non-cash charge of $13.4 million, or $0.05 per share, for the redemption of the 6.625% Monthly Income Class F Preferred Stock that was redeemed in April 2017. This charge is based on the excess of redemption value over the carrying value of the 6.625% Monthly Income Class F Preferred Stock that represents the original issuance cost that we paid in 2012.

 

The calculation to determine net income available to common stockholders includes impairments, gains from the sale of properties and/or fair value adjustments on our interest rate swaps. These items vary from period to period based on the timing of property sales and the interest rate environment, and can significantly impact net income available to common stockholders.

 

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Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA)

Adjusted EBITDA, a non-GAAP financial measure, means, for the most recent quarter, earnings (net income) before (i) interest expense, including non-cash loss (gain) on swaps, (ii) income and franchise taxes, (iii) depreciation and amortization, (iv) impairment losses, and (v) gain on sales of real estate. Our Adjusted EBITDA may not be comparable to Adjusted EBITDA reported by other companies that interpret the definitions of Adjusted EBITDA differently than we do. Management believes Adjusted EBITDA to be a meaningful measure of a REIT’s performance because it is widely followed by industry analysts, lenders and investors. Management also believes the use of an annualized quarterly Adjusted EBITDA metric is meaningful because it represents the company’s current earnings run rate for the period presented. The ratio of our total debt to our annualized quarterly Adjusted EBITDA is also used to determine vesting of performance share awards granted to our executive officers. Adjusted EBITDA should be considered along with, but not as an alternative to net income as a measure of our operating performance. Our ratio of debt to Adjusted EBITDA, which is used by management as a measure of leverage, is calculated by annualizing quarterly Adjusted EBITDA and then dividing by our total debt per the consolidated balance sheet.

 

Dollars in thousands

 

2017

 

2016

 

2015

 

Net income

 

$

60,952

 

$

92,724

 

$

83,111

 

Interest (1)

 

103,903

 

48,935

 

51,982

 

Income taxes

 

3,424

 

449

 

721

 

Depreciation and amortization

 

127,033

 

117,752

 

105,739

 

Impairment loss

 

6,679

 

3,709

 

1,378

 

Gain on sales of real estate

 

(23,208

)

(6,696

)

(5,126

)

Quarterly Adjusted EBITDA

 

$

278,783

 

$

256,873

 

$

237,805

 

 

 

 

 

 

 

 

 

Annualized Adjusted EBITDA (2)

 

$

1,115,132

 

$

1,027,492

 

$

951,220

 

Total Debt

 

$

6,111,471

 

$

5,839,605

 

$

4,820,995

 

Debt/Adjusted EBITDA

 

5.5

 

5.7

 

5.1

 

 

(1) Interest expense includes a loss on extinguishment of debt of $42.4 million for the year ended December 31, 2017.

(2) We calculate Annualized Adjusted EBITDA by multiplying the Quarterly Adjusted EBITDA by four.

 

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FUNDS FROM OPERATIONS AVAILABLE TO COMMON STOCKHOLDERS (FFO)

 

In 2017, our FFO increased by $37.3 million, or 5.1%, to $772.7 million, as compared to $735.4 million in 2016.  On a diluted per common share basis, FFO was $2.82 in 2017, as compared to $2.88 in 2016, a decrease of $0.06, or 2.1%.  In 2015, FFO was $652.4 million, or $2.77 on a diluted per common share basis. Our FFO in 2017 was impacted by a loss of $42.4 million, or $0.15 per share, on extinguishment of debt upon the early redemption on all $550.0 million of our outstanding 6.75% notes due August 2019 during December 2017. FFO was also impacted by a non-cash redemption charge of $13.4 million, or $0.05 per share, upon the redemption of the 6.625% Monthly Income Class F Preferred Stock that was redeemed in April 2017. This charge is based on the excess of redemption value over the carrying value of the 6.625% Monthly Income Class F Preferred Stock that represents the original issuance cost that we paid in 2012. FFO for 2017 also includes the early redemption on all $550.0 million of our outstanding 6.75% notes due August 15, 2019, plus accrued and unpaid interest.

 

The following is a reconciliation of net income available to common stockholders (which we believe is the most comparable GAAP measure) to FFO. Also presented is information regarding distributions paid to common stockholders and the weighted average number of common shares used for the basic and diluted computation per share (dollars in thousands, except per share amounts):

 

 

 

2017

 

2016

 

2015

 

Net income available to common stockholders

 

$

301,514

 

$

288,491

 

$

256,686

 

Depreciation and amortization

 

498,788

 

449,943

 

409,215

 

Depreciation of furniture, fixtures and equipment

 

(557

)

(747

)

(811

)

Provisions for impairment on investment properties

 

14,751

 

20,664

 

10,560

 

Gain on sales of investment properties

 

(40,898

)

(21,979

)

(22,243

)

FFO adjustments allocable to noncontrolling interests

 

(933

)

(977

)

(970

)

FFO available to common stockholders

 

$

772,665

 

$

735,395

 

$

652,437

 

FFO allocable to dilutive noncontrolling interests

 

877

 

1,435

 

-

 

Diluted FFO(1)

 

$

773,542

 

$

736,830

 

$

652,437

 

FFO per common share:

 

 

 

 

 

 

 

Basic

 

$

2.83

 

$

2.88

 

$

2.77

 

Diluted

 

$

2.82

 

$

2.88

 

$

2.77

 

 

 

 

 

 

 

 

 

Distributions paid to common stockholders

 

$

689,294

 

$

610,516

 

$

533,238

 

FFO available to common stockholders in excess of distributions paid to common stockholders

 

$

83,371

 

$

124,879

 

$

119,199

 

Weighted average number of common shares used for computation per share:

 

 

 

 

 

 

 

Basic

 

273,465,680

 

255,066,500

 

235,767,932

 

Diluted (1)

 

273,936,752

 

255,822,679

 

235,891,368

 

(1)      Diluted FFO for 2017 and 2016 includes FFO allocable to dilutive noncontrolling interests. Noncontrolling interests were anti-dilutive for 2015.

 

We define FFO, a non-GAAP measure, consistent with the National Association of Real Estate Investment Trust’s definition, as net income available to common stockholders, plus depreciation and amortization of real estate assets, plus impairments of depreciable real estate assets, and reduced by gains on property sales.

 

We consider FFO to be an appropriate supplemental measure of a REIT’s operating performance as it is based on a net income analysis of property portfolio performance that adds back items such as depreciation and impairments for FFO. The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, which implies that the value of real estate assets diminishes predictably over time. Since real estate values historically rise and fall with market conditions, presentations of operating results for a REIT, using historical accounting for depreciation, could be less informative. The use of FFO is recommended by the REIT industry as a supplemental performance measure. In addition, FFO is used as a measure of our compliance with the financial covenants of our credit facility.

 

ADJUSTED FUNDS FROM OPERATIONS AVAILABLE TO COMMON STOCKHOLDERS (AFFO)

 

In 2017, our AFFO increased by $102.2 million, or 13.9%, to $838.6 million, as compared to $736.4 million in 2016. On a diluted per common share basis, AFFO was $3.06 in 2017, as compared to $2.88 in 2016, an increase of $0.18, or 6.3%. In 2015, AFFO was $647.0 million, or $2.74 on a diluted per common share basis. We consider AFFO to be an appropriate supplemental measure of our performance. Most companies in our industry use a similar measurement, but they may use the term “CAD” (for Cash Available for Distribution), “FAD” (for Funds Available for Distribution) or other terms.

 

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The following is a reconciliation of net income available to common stockholders (which we believe is the most comparable GAAP measure) to FFO and AFFO. Also presented is information regarding distributions paid to common stockholders and the weighted average number of common shares used for the basic and diluted computation per share (dollars in thousands, except per share amounts):

 

 

 

2017

 

2016

 

2015

 

Net income available to common stockholders

 

$

301,514

 

$

288,491

 

$

256,686

 

Cumulative adjustments to calculate FFO (1)

 

471,151

 

446,904

 

395,751

 

FFO available to common stockholders

 

772,665

 

735,395

 

652,437

 

Loss (gain) on extinguishment of debt

 

42,426

 

-

 

(504

)

Excess of redemption value over carrying value of Class F preferred share redemption

 

13,373

 

-

 

-

 

Amortization of share-based compensation

 

13,946

 

12,007

 

10,391

 

Amortization of deferred financing costs (2)

 

5,326

 

5,352

 

5,294

 

Amortization of net mortgage premiums

 

(466

)

(3,414

)

(6,978

)

(Gain) loss on interest rate swaps

 

(3,250

)

(1,639

)

3,043

 

Leasing costs and commissions

 

(1,575

)

(797

)

(748

)

Recurring capital expenditures

 

(912

)

(679

)

(7,606

)

Straight-line rent

 

(17,191

)

(19,451

)

(16,468

)

Amortization of above and below-market leases

 

14,013

 

9,297

 

7,861

 

Other adjustments (3)

 

283

 

303

 

306

 

Total AFFO available to common stockholders

 

$

838,638

 

$

736,374

 

$

647,028

 

AFFO allocable to dilutive noncontrolling interests

 

1,178

 

1,455

 

-

 

Diluted AFFO(4)

 

$

839,816

 

$

737,829

 

$

647,028

 

AFFO per common share

 

 

 

 

 

 

 

Basic

 

$

3.07

 

$

2.89

 

$

2.74

 

Diluted

 

$

3.06

 

$

2.88

 

$

2.74

 

Distributions paid to common stockholders

 

$

689,294

 

$

610,516

 

$

533,238

 

AFFO available to common stockholders in excess of distributions paid to common stockholders

 

$

149,344

 

$

125,858

 

$

113,790

 

Weighted average number of common shares used for computation per share:

 

 

 

 

 

 

 

Basic

 

273,465,680

 

255,066,500

 

235,767,932

 

Diluted

 

274,024,934

 

255,822,679

 

235,891,368

 

 

 

 

 

 

 

 

 

(1)           See reconciling items for FFO presented under “Funds from Operations Available to Common Stockholders (FFO).”

(2)           Includes the amortization of costs incurred and capitalized upon issuance of our notes payable, assumption of our mortgages payable and upon issuance of our term loans.  The deferred financing costs are being amortized over the lives of the respective mortgages and term loans.  No costs associated with our credit facility agreements or annual fees paid to credit rating agencies have been included.

(3)           Includes adjustments allocable to both non-controlling interests and capital lease obligations.

(4)           Diluted AFFO for 2017 and 2016 includes FFO allocable to dilutive noncontrolling interests. Noncontrolling interests were anti-dilutive for 2015.

 

We believe the non-GAAP financial measure AFFO provides useful information to investors because it is a widely accepted industry measure of the operating performance of real estate companies that is used by industry analysts and investors who look at and compare those companies.  In particular, AFFO provides an additional measure to compare the operating performance of different REITs without having to account for differing depreciation assumptions and other unique revenue and expense items which are not pertinent to measuring a particular company’s on-going operating performance.  Therefore, we believe that AFFO is an appropriate supplemental performance metric, and that the most appropriate GAAP performance metric to which AFFO should be reconciled is net income available to common stockholders.

 

Presentation of the information regarding FFO and AFFO is intended to assist the reader in comparing the operating performance of different REITs, although it should be noted that not all REITs calculate FFO and AFFO in the same way, so comparisons with other REITs may not be meaningful. Furthermore, FFO and AFFO are not necessarily indicative of cash flow available to fund cash needs and should not be considered as alternatives to net income as an indication of our performance. FFO and AFFO should not be considered as alternatives to reviewing our cash flows from operating, investing, and financing activities.  In addition, FFO and AFFO should not be considered as measures of liquidity, our ability to make cash distributions, or our ability to pay interest payments.

 

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Table of Contents

 

IMPACT OF INFLATION

 

Tenant leases generally provide for limited increases in rent as a result of increases in the tenants’ sales volumes, increases in the consumer price index (typically subject to ceilings), or fixed increases. We expect that inflation will cause these lease provisions to result in rent increases over time. During times when inflation is greater than increases in rent, as provided for in the leases, rent increases may not keep up with the rate of inflation.

 

Moreover, our use of net lease agreements tends to reduce our exposure to rising property expenses due to inflation because the tenant is responsible for property expenses. Inflation and increased costs may have an adverse impact on our tenants if increases in their operating expenses exceed increases in revenue.

 

IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS

 

For information on the impact of recent accounting pronouncements on our business, see note 2 of the Notes to the Consolidated Financial Statements.

 

Item 7A:      Quantitative and Qualitative Disclosures about Market Risk

 

We are exposed to interest rate changes primarily as a result of our credit facility, term loans, mortgages payable, and long-term notes and bonds used to maintain liquidity and expand our real estate investment portfolio and operations. Our interest rate risk management objective is to limit the impact of interest rate changes on earnings and cash flow and to lower our overall borrowing costs. To achieve these objectives we issue long-term notes and bonds, primarily at fixed rates.

 

In order to mitigate and manage the effects of interest rate risks on our operations, we may utilize a variety of financial instruments, including interest rate swaps and caps. The use of these types of instruments to hedge our exposure to changes in interest rates carries additional risks, including counterparty credit risk, the enforceability of hedging contracts and the risk that unanticipated and significant changes in interest rates will cause a significant loss of basis in the contract.  To limit counterparty credit risk we will seek to enter into such agreements with major financial institutions with favorable credit ratings.  There can be no assurance that we will be able to adequately protect against the foregoing risks or realize an economic benefit that exceeds the related amounts incurred in connection with engaging in such hedging activities.  We do not enter into any derivative transactions for speculative or trading purposes.

 

The following table presents by year of expected maturity, the principal amounts, average interest rates and estimated fair values of our fixed and variable rate debt as of December 31, 2017. This information is presented to evaluate the expected cash flows and sensitivity to interest rate changes (dollars in millions):

 

Expected Maturity Data

 

Year of maturity

 

Fixed rate debt

 

Weighted average rate on fixed rate debt

 

Variable rate debt

 

Weighted average rate on variable rate debt

 

2018

 

$

491.2

 

1.99

%

$

76.6

 

2.80

%

2019

 

4.5

 

5.59

 

126.2

 

4.90

 

2020

 

82.2

 

4.99

 

250.2

 

3.11

 

2021

 

310.1

 

5.72

 

6.9

 

4.60

 

2022

 

1,059.7

 

3.43

 

-

 

-

 

Thereafter

 

3,718.6

 

4.16

 

-

 

-

 

Totals (1)

 

$

5,666.3

 

3.93

%

$

459.9

 

3.57

%

Fair Value (2)

 

$

5,905.2

 

 

 

$

460.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)       Excludes net premiums recorded on mortgages payable, net original issuance premiums recorded on notes payable and deferred financing costs on mortgages payable, notes payable, and term loans.  At December 31, 2017, the unamortized balance of net premiums on mortgages payable is $5.9 million, the unamortized balance of net original issuance premiums on notes payable is $14.3 million, and the balance of deferred financing costs on mortgages payable is $236,000, on notes payable is $34.1 million, and on term loans is $580,000.

 

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(2)       We base the estimated fair value of the fixed rate senior notes and bonds at December 31, 2017 on the indicative market prices and recent trading activity of our senior notes and bonds payable.  We base the estimated fair value of our fixed rate and variable rate mortgages at December 31, 2017 on the relevant forward interest rate curve, plus an applicable credit-adjusted spread.  We believe that the carrying value of the credit facility balance and term loans balance reasonably approximate their estimated fair values at December 31, 2017.

 

The table incorporates only those exposures that exist as of December 31, 2017. It does not consider those exposures or positions that could arise after that date. As a result, our ultimate realized gain or loss, with respect to interest rate fluctuations, would depend on the exposures that arise during the period, our hedging strategies at the time, and interest rates.

 

All of our outstanding notes and bonds have fixed interest rates. All of our mortgages payable, except three mortgages with principal balances totaling $29.9 million at December 31, 2017 have fixed interest rates. After factoring in arrangements that limit our exposure to interest rate risk and effectively fix our per annum interest rates, our mortgage debt subject to variable rates totals $22.4 million at December 31, 2017. Interest on our credit facility and term loan balances is variable. However, the variable interest rate feature on our term loans has been mitigated by interest rate swap agreements.  Based on our credit facility balance of $110.0 million at December 31, 2017, a 1% change in interest rates would change our interest rate costs by $1.1 million per year.

 

Item 8:         Financial Statements and Supplementary Data

 

Table of Contents

 

A.

Reports of Independent Registered Public Accounting Firm

 

 

B.

Consolidated Balance Sheets,
December 31, 2017 and 2016

 

 

C.

Consolidated Statements of Income,
Years ended December 31, 2017, 2016 and 2015

 

 

D.

Consolidated Statements of Equity,
Years ended December 31, 2017, 2016 and 2015

 

 

E.

Consolidated Statements of Cash Flows,
Years ended December 31, 2017, 2016 and 2015

 

 

F.

Notes to Consolidated Financial Statements

 

 

G.

Consolidated Quarterly Financial Data
(unaudited) for 2017 and 2016

 

 

H.

Schedule III Real Estate and Accumulated Depreciation

 

 

 

Schedules not filed: All schedules, other than that indicated in the Table of Contents, have been omitted as the required information is either not material, inapplicable or the information is presented in the financial statements or related notes.

 

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Report of Independent Registered Public Accounting Firm

 

 

To the Stockholders and Board of Directors
Realty Income Corporation:

 

Opinion on the Consolidated Financial Statements

 

We have audited the accompanying consolidated balance sheets of Realty Income Corporation and subsidiaries (the Company) as of December 31, 2017 and 2016, the related consolidated statements of income, equity, and cash flows for each of the years in the three-year period ended December 31, 2017, and the related notes and financial statement schedule III (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2017 and 2016, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2017, in conformity with U.S. generally accepted accounting principles.

 

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2017, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated February 22, 2018 expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.

 

Basis for Opinion

 

These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to Realty Income Corporation in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

(signed) KPMG LLP

 

We have served as the Company’s auditor since 1993.

 

San Diego, California
February 22, 2018

 

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Report of Independent Registered Public Accounting Firm

 

To the Stockholders and Board of Directors
Realty Income Corporation:

 

Opinion on Internal Control Over Financial Reporting

 

We have audited Realty Income Corporation and subsidiaries’ (the Company) internal control over financial reporting as of December 31, 2017, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2017, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

 

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of the Company as of December 31, 2017 and 2016, the related consolidated statements of income, equity, and cash flows for each of the years in the three-year period ended December 31, 2017, and the related notes and financial statement schedule III (collectively, the consolidated financial statements), and our report dated February 22, 2018 expressed an unqualified opinion on those consolidated financial statements.

 

Basis for Opinion

 

The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

 

Definition and Limitations of Internal Control Over Financial Reporting

 

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

 

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

 

(signed) KPMG LLP

 

San Diego, California
February 22, 2018

 

-54-



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

December 31, 2017 and 2016

 

(dollars in thousands, except per share data)

 

 

 

2017

 

2016

 

ASSETS

 

 

 

 

 

Real estate, at cost:

 

 

 

 

 

Land

 

$

4,080,400

 

$

3,752,204

 

Buildings and improvements

 

10,936,069

 

10,112,212

 

Total real estate, at cost

 

15,016,469

 

13,864,416

 

Less accumulated depreciation and amortization

 

(2,346,644

)

(1,987,200

)

Net real estate held for investment

 

12,669,825

 

11,877,216

 

Real estate held for sale, net

 

6,674

 

26,575

 

Net real estate

 

12,676,499

 

11,903,791

 

Cash and cash equivalents

 

6,898

 

9,420

 

Accounts receivable, net

 

119,533

 

104,584

 

Acquired lease intangible assets, net

 

1,194,930

 

1,082,320

 

Goodwill

 

14,970

 

15,067

 

Other assets, net

 

45,336

 

37,689

 

Total assets

 

$

14,058,166

 

$

13,152,871

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

Distributions payable

 

$

60,799

 

$

55,235

 

Accounts payable and accrued expenses

 

109,523

 

121,156

 

Acquired lease intangible liabilities, net

 

268,796

 

264,206

 

Other liabilities

 

116,869

 

85,616

 

Line of credit payable

 

110,000

 

1,120,000

 

Term loans, net

 

445,286

 

319,127

 

Mortgages payable, net

 

325,941

 

466,045

 

Notes payable, net

 

5,230,244

 

3,934,433

 

Total liabilities

 

6,667,458

 

6,365,818

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

Preferred stock and paid in capital, par value $0.01 per share, 69,900,000 shares authorized, no shares issued and outstanding as of December 31, 2017 and 16,350,000 issued and outstanding as of December 31, 2016, liquidation preference $25.00 per share

 

-

 

395,378

 

Common stock and paid in capital, par value $0.01 per share, 370,100,000 shares authorized, 284,213,685 shares issued and outstanding as of December 31, 2017 and 260,168,259 shares issued and outstanding as of December 31, 2016

 

9,624,264

 

8,228,594

 

Distributions in excess of net income

 

(2,252,763

)

(1,857,168

)

Total stockholders’ equity

 

7,371,501

 

6,766,804

 

Noncontrolling interests

 

19,207

 

20,249

 

Total equity

 

7,390,708

 

6,787,053

 

Total liabilities and equity

 

$

14,058,166

 

$

13,152,871

 

 

The accompanying notes to consolidated financial statements are an integral part of these statements.

 

-55-



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

Years Ended December 31, 2017, 2016 and 2015

 

(dollars in thousands, except per share data)

 

 

 

2017

 

2016

 

2015

 

REVENUE

 

 

 

 

 

 

 

Rental

 

$

1,166,224

 

$

1,057,413

 

$

976,865

 

Tenant reimbursements

 

46,082

 

43,104

 

42,015

 

Other

 

3,462

 

2,655

 

4,405

 

Total revenue

 

1,215,768

 

1,103,172

 

1,023,285

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

Depreciation and amortization

 

498,788

 

449,943

 

409,215

 

Interest

 

247,413

 

219,974

 

233,079

 

General and administrative

 

58,446

 

51,966

 

49,298

 

Property (including reimbursable)

 

69,480

 

62,865

 

55,352

 

Income taxes

 

6,044

 

3,262

 

3,169

 

Provisions for impairment

 

14,751

 

20,664

 

10,560

 

Total expenses

 

894,922

 

808,674

 

760,673

 

Gain on sales of real estate

 

40,898

 

21,979

 

22,243

 

Loss on extinguishment of debt

 

(42,426

)

-

 

-

 

Net income

 

319,318

 

316,477

 

284,855

 

Net income attributable to noncontrolling interests

 

(520

)

(906

)

(1,089

)

Net income attributable to the Company

 

318,798

 

315,571

 

283,766

 

Preferred stock dividends

 

(3,911

)

(27,080

)

(27,080

)

Excess of redemption value over carrying value of preferred shares redeemed

 

(13,373

)

-

 

-

 

Net income available to common stockholders

 

$

301,514

 

$

288,491

 

$

256,686

 

 

 

 

 

 

 

 

 

Amounts available to common stockholders per common share:

 

 

 

 

 

 

 

Net income, basic and diluted

 

$

1.10

 

$

1.13

 

$

1.09

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

Basic

 

273,465,680

 

255,066,500

 

235,767,932

 

Diluted

 

273,936,752

 

255,624,250

 

236,208,390

 

 

The accompanying notes to consolidated financial statements are an integral part of these statements.

 

-56-



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EQUITY

 

Years Ended December 31, 2017, 2016, and 2015

(dollars in thousands)

 

 

 

 

 

 

 

Preferred

 

Common

 

 

 

 

 

 

 

 

 

 

 

Shares of

 

Shares of

 

stock and

 

stock and

 

Distributions

 

Total

 

 

 

 

 

 

 

preferred

 

common

 

paid in

 

paid in

 

in excess of

 

stockholders’

 

Noncontrolling

 

Total

 

 

 

stock

 

stock

 

capital

 

capital

 

net income

 

equity

 

interests

 

equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2014

 

16,350,000

 

224,881,192

 

$

395,378

 

$

6,464,987

 

$

(1,246,964

)

$

5,613,401

 

$

27,698

 

$

5,641,099

 

Net income

 

-

 

-

 

-

 

-

 

283,766

 

283,766

 

1,089

 

284,855

 

Distributions paid and payable

 

-

 

-

 

-

 

-

 

(567,012

)

(567,012

)

(1,652

)

(568,664

)

Share issuances, net of costs

 

-

 

25,322,655

 

-

 

1,190,006

 

-

 

1,190,006

 

-

 

1,190,006

 

Redemption of common units

 

-

 

168,182

 

-

 

4,347

 

-

 

4,347

 

(4,347

)

-

 

Reallocation of equity

 

-

 

-

 

-

 

1,051

 

-

 

1,051

 

(1,051

)

-

 

Share-based compensation, net

 

-

 

44,728

 

-

 

6,037

 

-

 

6,037

 

-

 

6,037

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2015

 

16,350,000

 

250,416,757

 

$

395,378

 

$

7,666,428

 

$

(1,530,210

)

$

6,531,596

 

$

21,737

 

$

6,553,333

 

Net income

 

-

 

-

 

-

 

-

 

315,571

 

315,571

 

906

 

316,477

 

Distributions paid and payable

 

-

 

-

 

-

 

-

 

(642,529

)

(642,529

)

(12,682

)

(655,211

)

Share issuances, net of costs

 

-

 

9,449,167

 

-

 

557,636

 

-

 

557,636

 

-

 

557,636

 

Contributions by noncontrolling interests

 

-

 

-

 

-

 

-

 

-

 

-

 

15,906

 

15,906

 

Redemption of common units

 

-

 

103,182

 

-

 

(2,865

)

-

 

(2,865

)

(6,161

)

(9,026

)

Reallocation of equity

 

-

 

-

 

-

 

(543

)

-

 

(543

)

543

 

-

 

Share-based compensation, net

 

-

 

199,153

 

-

 

7,938

 

-

 

7,938

 

-

 

7,938

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2016

 

16,350,000

 

260,168,259

 

$

395,378

 

$

8,228,594

 

$

(1,857,168

)

$

6,766,804

 

$

20,249

 

$

6,787,053

 

Net income

 

-

 

-

 

-

 

-

 

318,798

 

318,798

 

520

 

319,318

 

Distributions paid and payable

 

-

 

-

 

-

 

-

 

(701,020

)

(701,020

)

(2,047

)

(703,067

)

Share issuances, net of costs

 

-

 

23,957,741

 

-

 

1,388,080

 

-

 

1,388,080

 

-

 

1,388,080

 

Contributions by noncontrolling interests

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

Preferred shares redeemed

 

(16,350,000

)

-

 

(395,378

)

-

 

(13,373

)

(408,751

)

-

 

(408,751

)

Reallocation of equity

 

-

 

-

 

-

 

(485

)

-

 

(485

)

485

 

-

 

Share-based compensation, net

 

-

 

87,685

 

-

 

8,075

 

-

 

8,075

 

-

 

8,075

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2017

 

-

 

284,213,685

 

$

-

 

$

9,624,264

 

$

(2,252,763

)

$

7,371,501

 

$

19,207

 

$

7,390,708

 

 

The accompanying notes to consolidated financial statements are an integral part of these statements.

 

-57-



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Years Ended December 31, 2017, 2016 and 2015

(dollars in thousands)

 

 

 

2017

 

2016

 

2015

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

 

Net income

 

$

319,318

 

$

316,477

 

$

284,855

 

Adjustments to net income:

 

 

 

 

 

 

 

Depreciation and amortization

 

498,788

 

449,943

 

409,215

 

Loss on extinguishment of debt

 

42,426

 

-

 

-

 

Amortization of share-based compensation

 

13,946

 

12,007

 

10,391

 

Non-cash revenue adjustments

 

(3,927

)

(10,154

)

(8,607

)

Amortization of net premiums on mortgages payable

 

(466

)

(3,414

)

(7,482

)

Amortization of deferred financing costs

 

9,158

 

8,904

 

9,044

 

(Gain) loss on interest rate swaps

 

(3,250

)

(1,639

)

3,043

 

Gain on sales of real estate

 

(40,898

)

(21,979

)

(22,243

)

Provisions for impairment on real estate

 

14,751

 

20,664

 

10,560

 

Change in assets and liabilities

 

 

 

 

 

 

 

Accounts receivable and other assets

 

(92

)

(5,414

)

(1,377

)

Accounts payable, accrued expenses and other liabilities

 

26,096

 

34,468

 

6,168

 

Net cash provided by operating activities

 

875,850

 

799,863

 

693,567

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

 

 

Investment in real estate

 

(1,413,270

)

(1,798,892

)

(1,266,885

)

Improvements to real estate, including leasing costs

 

(15,247

)

(13,426

)

(11,541

)

Proceeds from sales of real estate

 

166,976

 

99,096

 

65,817

 

Insurance proceeds received

 

14,411

 

-

 

-

 

Collection of loans receivable

 

123

 

12,515

 

-

 

Non-refundable escrow deposits for pending acquisitions

 

(7,500

)

-

 

-

 

Net cash used in investing activities

 

(1,254,507

)

(1,700,707

)

(1,212,609

)

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

Cash distributions to common stockholders

 

(689,294

)

(610,516

)

(533,238

)

Cash dividends to preferred stockholders

 

(6,168

)

(27,080

)

(27,080

)

Borrowings on line of credit

 

1,465,000

 

3,879,000

 

1,448,000

 

Payments on line of credit

 

(2,475,000

)

(2,997,000

)

(1,433,000

)

Proceeds from notes and bonds payable issued

 

2,033,041

 

592,026

 

-

 

Principal payment on notes payable

 

(725,000

)

(275,000

)

(150,000

)

Proceeds from mortgages payable

 

-

 

9,963

 

-

 

Payments upon extinguishment of debt

 

(41,643

)

-

 

-

 

Principal payments on mortgages payable

 

(139,725

)

(231,743

)

(198,353

)

Proceeds from term loans

 

-

 

-

 

250,000

 

Redemption of preferred stock

 

(408,750

)

-

 

-

 

Proceeds from common stock offerings, net

 

704,938

 

383,572

 

793,559

 

Proceeds from dividend reinvestment and stock purchase plan

 

69,931

 

10,252

 

363,029

 

Proceeds from At-the-Market (ATM) program

 

621,697

 

166,781

 

36,348

 

Redemption of preferred units

 

-

 

-

 

(6,750

)

Redemption of common units

 

-

 

(9,026

)

-

 

Distributions to noncontrolling interests

 

(2,043

)

(12,725

)

(1,679

)

Debt issuance costs

 

(17,510

)

(5,274

)

(10,259

)

Other items, including shares withheld upon vesting

 

(14,356

)

(7,038

)

(7,383

)

Net cash provided by financing activities

 

375,118

 

866,192

 

523,194

 

Net (decrease) increase in cash, cash equivalents and restricted cash

 

(3,539

)

(34,652

)

4,152

 

Cash, cash equivalents and restricted cash, beginning of period

 

15,681

 

50,333

 

46,181

 

Cash, cash equivalents and restricted cash, end of period

 

$

12,142

 

$

15,681

 

$

50,333

 

 

For supplemental disclosures, see note 15.

 

The accompanying notes to consolidated financial statements are an integral part of these statements.

 

-58-



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2017, 2016, and 2015

 

1.                           Organization and Operation

 

Realty Income Corporation (“Realty Income,” the “Company,” “we,” “our” or “us”) is organized as a Maryland corporation. We invest in commercial real estate and have elected to be taxed as a real estate investment trust, or REIT.

 

At December 31, 2017, we owned 5,172 properties, located in 49 states and Puerto Rico, containing over 89.6 million leasable square feet.

 

Information with respect to number of properties, square feet, average initial lease term and weighted average contractual lease rate is unaudited.

 

2.                  Summary of Significant Accounting Policies and Procedures and Recent Accounting Pronouncements

 

Federal Income Taxes. We have elected to be taxed as a REIT, as defined above, under the Internal Revenue Code of 1986, as amended, or the Code. We believe we have qualified and continue to qualify as a REIT. Under the REIT operating structure, we are permitted to deduct dividends paid to our stockholders in determining our taxable income.  Assuming our dividends equal or exceed our taxable net income, we generally will not be required to pay federal corporate income taxes on such income. Accordingly, no provision has been made for federal income taxes in the accompanying consolidated financial statements, except for federal income taxes of our taxable REIT subsidiaries. The income taxes recorded on our consolidated statements of income represent amounts paid by Realty Income and its subsidiaries for city and state income and franchise taxes.

 

Earnings and profits that determine the taxability of distributions to stockholders differ from net income reported for financial reporting purposes due to differences in the estimated useful lives and methods used to compute depreciation and the carrying value (basis) of the investments in properties for tax purposes, among other things.

 

We regularly analyze our various federal and state filing positions and only recognize the income tax effect in our financial statements when certain criteria regarding uncertain income tax positions have been met. We believe that our income tax positions would more likely than not be sustained upon examination by all relevant taxing authorities. Therefore, no provisions for uncertain income tax positions have been recorded in our financial statements.

 

Net Income per Common Share. Basic net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income available to common stockholders, plus income attributable to dilutive shares and convertible common units, for the period by the weighted average number of common shares that would have been outstanding assuming the issuance of common shares for all potentially dilutive common shares outstanding during the reporting period.

 

The following is a reconciliation of the denominator of the basic net income per common share computation to the denominator of the diluted net income per common share computation.

 

 

 

2017

 

2016

 

2015

 

Weighted average shares used for the basic net income per share computation

 

273,465,680

 

255,066,500

 

235,767,932

 

Incremental shares from share-based compensation

 

154,050

 

240,728

 

123,436

 

Weighted average partnership common units convertible to common shares that were dilutive

 

317,022

 

317,022

 

317,022

 

Weighted average shares used for diluted net income per share computation

 

273,936,752

 

255,624,250

 

236,208,390

 

Unvested shares from share-based compensation that were anti-dilutive

 

32,205

 

475

 

106,103

 

Weighted average partnership common units convertible to common shares that were anti-dilutive

 

88,182

 

198,429

 

417,060

 

 

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Table of Contents

 

Revenue Recognition and Accounts Receivable. All leases are accounted for as operating leases. Under this method, leases that have fixed and determinable rent increases are recognized on a straight-line basis over the lease term. Any rental revenue contingent upon a tenant’s sales is recognized only after the tenant exceeds their sales breakpoint. Rental increases based upon changes in the consumer price indexes are recognized only after the changes in the indexes have occurred and are then applied according to the lease agreements.  Contractually obligated reimbursements from tenants for recoverable real estate taxes and operating expenses are included in tenant reimbursements in the period when such costs are incurred.

 

We recognize an allowance for doubtful accounts relating to accounts receivable for amounts deemed uncollectible. We consider tenant specific issues, such as financial stability and ability to pay, when determining collectability of accounts receivable and appropriate allowances to record. The allowance for doubtful accounts was $337,000 at December 31, 2017 and $74,000 at December 31, 2016.

 

Other revenue, which comprises property-related revenue not included in rental revenue or tenant reimbursements, was $3.5 million in 2017, $2.7 million in 2016 and $4.4 million in 2015.

 

Principles of Consolidation. The accompanying consolidated financial statements include the accounts of Realty Income and other subsidiaries for which we make operating and financial decisions (i.e. control), after elimination of all material intercompany balances and transactions. We consolidate entities that we control and record a noncontrolling interest for the portion that we do not own.  Noncontrolling interest that was created or assumed as part of a business combination was recognized at fair value as of the date of the transaction (see note 10).  We have no unconsolidated investments.

 

Cash Equivalents and Restricted Cash. We consider all short-term, highly liquid investments that are readily convertible to cash and have an original maturity of three months or less at the time of purchase to be cash equivalents. Our cash equivalents are primarily investments in United States government money market funds. Restricted cash includes cash proceeds from the sale of assets held by qualified intermediaries in anticipation of the acquisition of replacement properties in tax-free exchanges under Section 1031 of the Code, impounds related to mortgages payable and cash that is not immediately available to Realty Income (i.e. escrow deposits for future acquisitions).

 

Cash accounts maintained on behalf of Realty Income in demand deposits at commercial banks and money market funds may exceed federally insured levels or may be held in accounts without any federal insurance or any other insurance or guarantee. However, Realty Income has not experienced any losses in such accounts.

 

Gain on Sales of Properties. When real estate is sold, the related net book value of the applicable assets is removed and a gain from the sale is recognized in our consolidated statements of income. We record a gain from the sale of real estate provided that various criteria, relating to the terms of the sale and any subsequent involvement by us with the real estate, have been met.

 

Allocation of the Purchase Price of Real Estate Acquisitions. During the first quarter of 2017, the FASB issued Accounting Standards Update, or ASU, 2017-01 to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. We elected to adopt this ASU early, effective October 1, 2017. As a result of this new guidance, our real state acquisitions during the fourth quarter of 2017 qualified as asset acquisitions and the transaction costs associated with those acquisitions were capitalized. When acquiring a property for investment purposes, we typically allocate the cost of real estate acquired, inclusive of transaction costs, to: (1) land, (2) building and improvements, and (3) identified intangible assets and liabilities, based in each case on their relative estimated fair values. Intangible assets and liabilities consist of above-market or below-market lease value of in-place leases and the value of in-place leases.  In an acquisition of multiple properties, we must also allocate the purchase price among the properties.  The allocation of the purchase price is based on our assessment of estimated fair value and is often based upon the expected future cash flows of the property and various characteristics of the markets where the property is located.  In addition, any assumed mortgages receivable or payable are recorded at their estimated fair values. The estimated fair values of our mortgages payable have been calculated by discounting the future cash flows using applicable interest rates that have been adjusted for factors, such as industry type, tenant investment grade, maturity date, and comparable borrowings for similar assets.  The initial allocation of the purchase price is based on management’s preliminary assessment, which may differ when final information becomes available. The use of different assumptions in the allocation of the purchase price of the acquired properties and liabilities assumed could affect the timing of recognition of the related revenue and expenses.

 

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Our estimated fair value determinations are based on management’s judgment, utilizing various factors, including: (1) market conditions, (2) industry that the tenant operates in, (3) characteristics of the real estate, i.e.: location, size, demographics, value and comparative rental rates, (4) tenant credit profile, (5) store profitability and the importance of the location of the real estate to the operations of the tenant’s business, and/or (6) real estate valuations, prepared internally by our real estate research department or, in rare circumstances, by an independent valuation firm. Our methodologies for measuring fair value related to the allocation of the purchase price of real estate acquisitions include both observable market data (and thus should be categorized as level 2 on the Financial Accounting Standards Board, or FASB’s, three-level valuation hierarchy) and unobservable inputs that reflect our own internal assumptions and calculations (and thus should be categorized as level 3 on FASB’s three-level valuation hierarchy).

 

The fair value of the tangible assets of an acquired property with an in-place operating lease (which includes land and buildings/improvements) is determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land and buildings/improvements based on our determination of the fair value of these assets. Our fair value determinations are based primarily on internally prepared real estate valuations for each property, and consider estimates of carrying costs during the expected lease-up periods, current market conditions, as well as costs to execute similar leases. In allocating the fair value to identified intangibles for above-market or below-market leases, an amount is recorded based on the present value of the difference between (i) the contractual amount to be paid pursuant to the in-place lease and (ii) our estimate of fair market lease rate for the corresponding in-place lease, measured over the remaining term of the lease.

 

The values of the above-market and below-market leases are amortized over the term of the respective leases, including any bargain renewal options, as an adjustment to rental revenue on our consolidated statements of income. The value of in-place leases, exclusive of the value of above-market and below-market in-place leases, is amortized to depreciation and amortization expense over the remaining periods of the respective leases. If a lease is terminated prior to its stated expiration, all unamortized amounts relating to that lease are recorded to revenue or expense as appropriate.

 

In allocating the fair value to assumed mortgages, amounts are recorded to debt premiums or discounts based on the present value of the estimated cash flows, which is calculated to account for either above or below-market interest rates.  Our assumed net debt premiums are amortized as a reduction to interest expense over the remaining term of the respective mortgages.

 

In allocating noncontrolling interests, amounts are recorded based on the proportional share of equity issued or contributions made at the date of acquisition, as determined by the terms of the applicable agreement.

 

Depreciation and Amortization. Land, buildings and improvements are recorded and stated at cost. Major replacements and betterments, which improve or extend the life of the asset, are capitalized and depreciated over their estimated useful lives, while ordinary repairs and maintenance are expensed as incurred. Buildings and improvements that are under redevelopment, or are being developed, are carried at cost and no depreciation is recorded on these assets. Additionally, amounts essential to the development of the property, such as pre-construction, development, construction, interest and other costs incurred during the period of development are capitalized. We cease capitalization when the property is available for occupancy upon substantial completion of tenant improvements, but in any event no later than one year from the completion of major construction activity.

 

Properties are depreciated using the straight-line method over the estimated useful lives of the assets.  The estimated useful lives are as follows:

 

Buildings

25 years or 35 years

Building improvements

4 to 20 years

Tenant improvements and lease commissions

The shorter of the term of the related lease or useful life

Acquired in-place leases

Remaining terms of the respective leases

 

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Provision for Impairment.  We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. A provision is made for impairment if estimated future operating cash flows (undiscounted and without interest charges) plus estimated disposition proceeds (undiscounted) are less than the current book value of the property. Key factors that we utilize in this analysis include projected rental rates, estimated holding periods, historical sales and releases, capital expenditures and property sales capitalization rates. If a property is classified as held for sale, it is carried at the lower of carrying cost or estimated fair value, less estimated cost to sell, and depreciation of the property ceases.

 

If a property was previously reclassified as held for sale but the applicable criteria for this classification are no longer met, the property is reclassified to real estate held for investment. A property that is reclassified to held for investment is measured and recorded at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation expense that would have been recognized had the property been continuously classified as held for investment, or (ii) the fair value at the date of the subsequent decision not to sell.

 

Nine properties were classified as held for sale at December 31, 2017.  We do not depreciate properties that are classified as held for sale.

 

In 2017, we recorded total provisions for impairment of $14.8 million on three properties classified as held for sale, five properties classified as held for investment, and 18 sold properties. In 2016, we recorded total provisions for impairment of $20.7 million on four properties classified as held for investment and 35 sold properties. In 2015, we recorded total provisions for impairment of $10.6 million on two properties classified as held for investment, 12 sold properties, and one property disposed of other than by sale.

 

Goodwill. Goodwill is tested for impairment during the second quarter of each year as well as when events or circumstances occur indicating that our goodwill might be impaired. Based on our analysis of goodwill during the second quarters of 2017, 2016 and 2015, we determined, that the fair values of our reporting units were not more likely than not to be less than their respective carrying amounts and no impairment was recorded on our existing goodwill during 2017, 2016 or 2015.

 

Equity Offering Costs.  Underwriting commissions and offering costs have been reflected as a reduction of additional paid-in-capital on our consolidated balance sheets.

 

Noncontrolling Interests.  Noncontrolling interests are reflected on our consolidated balance sheets as a component of equity.  Noncontrolling interests acquired prior to our adoption of ASU 2017-01, were recorded initially at fair value based on the price of the applicable units issued or contributions made, and subsequently adjusted each period for distributions, additional contributions and the allocation of net income attributable to the noncontrolling interests. Noncontrolling interests issued or assumed subsequent to our adoption of ASU 2017-01 on October 1, 2017, were recorded based on the proportional share of equity in the entity.

 

As consideration for two separate acquisitions during 2013, partnership units of Tau Operating Partnership, L.P. and Realty Income, L.P. were issued to third parties.  These common units (discussed in note 10) do not have voting rights, are entitled to monthly distributions equal to the amount paid to our common stockholders, and are redeemable in cash or our common stock, at our option and at a conversion ratio of one to one, subject to certain exceptions.  As the general partner for each of these partnerships, we have operating and financial control over these entities, consolidate them in our financial statements, and record the partnership units held by third parties as noncontrolling interests.

Additionally, in 2016 we completed the acquisition of two properties by acquiring a controlling interest in two separate joint ventures. We are the managing member of each of these joint ventures, and possess the ability to control the business and manage the affairs of these entities.  As the managing member for each of these joint ventures, we have operating and financial control over these entities, consolidate them in our financial statements, and record the ownership interests held by third parties as noncontrolling interests.

 

Use of Estimates. The consolidated financial statements were prepared in conformity with U.S. generally accepted accounting principles, or GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period.  Actual results could differ from those estimates.

 

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Recent Accounting Pronouncements. In May 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09, Revenue from Contracts with Customers.  This ASU, as amended by ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, outlines a comprehensive model for companies to use in accounting for revenue arising from contracts with customers, and will apply to transactions such as the sale of real estate. This ASU, which is effective for interim and annual periods beginning after December 15, 2017, requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also to provide certain additional disclosures. We adopted this standard effective as of January 1, 2018 and utilized the cumulative effect transition method of adoption. The adoption of this guidance did not have a material impact on our financial position or results of operations.

 

In February 2016, FASB issued ASU 2016-02 (Topic 842, Leases), which amended Topic 840, Leases.  Under this amended topic, the accounting applied by a lessor is largely unchanged from that applied under Topic 840, Leases. The large majority of operating leases should remain classified as operating leases, and lessors should continue to recognize lease income for those leases on a generally straight-line basis over the lease term. The amendments included in this topic are effective, for interim and annual periods beginning after December 15, 2018.  We have not yet adopted this topic and are currently evaluating the impact this amendment may have on our consolidated financial statements.

 

In November 2016, FASB issued ASU 2016-18, which amends Topic 230, Statement of Cash Flows: Restricted Cash. The amendments in this ASU, which are effective for interim and annual periods beginning after December 15, 2017, require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. We have elected adoption of this ASU early, as of December 31, 2017. Therefore, amounts generally described as restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the consolidated statement of cash flows. The adoption of this topic required retrospective revision to the statement of cash flows for the year’s 2016 and 2015, and additional disclosure for items classified as restricted cash, see note 15. The adoption of this topic did not have a material impact on our consolidated financial statements or related disclosures.

 

In January 2017, FASB issued ASU 2017-01, which amends Topic 805, Business Combinations. The FASB issued this ASU to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. We elected to adopt this ASU early, effective October 1, 2017. As a result of this new guidance, we believe the majority of our future real estate transactions will qualify as asset acquisitions (or disposals), and future transaction costs associated with these acquisitions will be capitalized. The adoption of this topic did not have a material impact on our consolidated financial statements or related disclosures.

 

3.                           Supplemental Detail for Certain Components of Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

A.         Acquired lease intangible assets, net, consist of the following

 

December 31,

 

December 31,

 

(dollars in thousands) at:

 

2017

 

2016

 

Acquired in-place leases

 

  $

1,272,897

 

  $

1,164,075

 

Accumulated amortization of acquired in-place leases

 

(444,221

)

(358,040

)

Acquired above-market leases

 

487,933

 

365,005

 

Accumulated amortization of acquired above-market leases

 

(121,679

)

(88,720

)

 

 

  $

1,194,930

 

  $

1,082,320

 

 

 

 

 

 

 

 

 

 

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December 31,

 

December 31,

 

B.         Other assets, net, consist of the following (dollars in thousands) at:

 

2017

 

2016

 

Prepaid expenses

 

  $

12,851

 

  $

14,406

 

Non-refundable escrow deposits for pending acquisitions

 

7,500

 

-

 

Corporate assets, net

 

6,074

 

3,585

 

Notes receivable issued in connection with property sales

 

5,267

 

5,390

 

Impounds related to mortgages payable

 

4,565

 

2,015

 

Credit facility origination costs, net

 

4,366

 

7,303

 

Receivable for property rebuilds

 

3,919

 

-

 

Restricted escrow deposits

 

679

 

4,246

 

Other items

 

115

 

744

 

 

 

  $

45,336

 

  $

37,689

 

 

 

 

 

 

 

C.        Distributions payable consist of the following declared

 

December 31,

 

December 31,

 

distributions (dollars in thousands) at:

 

2017

 

2016

 

Common stock distributions

 

  $

60,713

 

  $

52,896

 

Preferred stock dividends

 

-

 

2,257

 

Noncontrolling interests distributions

 

86

 

82

 

 

 

  $

60,799

 

  $

55,235

 

 

 

 

 

 

 

D.        Accounts payable and accrued expenses consist of the

 

December 31,

 

December 31,

 

following (dollars in thousands) at:

 

2017

 

2016

 

Notes payable - interest payable

 

  $

64,058

 

  $

60,668

 

Property taxes payable

 

11,718

 

16,949

 

Accrued costs on properties under development

 

2,681

 

9,049

 

Mortgages, term loans, credit line - interest payable and interest rate swaps

 

2,360

 

5,432

 

Other items

 

28,706

 

29,058

 

 

 

  $

109,523

 

  $

121,156

 

 

 

 

 

 

 

E.         Acquired lease intangible liabilities, net, consist of the

 

December 31,

 

December 31,

 

following (dollars in thousands) at:

 

2017

 

2016

 

Acquired below-market leases

 

  $

340,906

 

  $

318,926

 

Accumulated amortization of acquired below-market leases

 

(72,110

)

(54,720

)

 

 

  $

268,796

 

  $

264,206

 

 

 

 

 

 

 

F.         Other liabilities consist of the following

 

December 31,

 

December 31,

 

(dollars in thousands) at:

 

2017

 

2016

 

Rent received in advance and other deferred revenue (1)

 

  $

105,284

 

  $

74,098

 

Security deposits

 

6,259

 

6,502

 

Capital lease obligations

 

5,326

 

5,016

 

 

 

  $

116,869

 

  $

85,616

 

 

 

 

 

 

 

 

 

 

(1) In connection with Diageo’s sale of its wine business to Treasury Wine Estates, we agreed to release Diageo from its guarantee of our leases in exchange for Diageo’s payment of $75 million of additional rent to us.  The additional rent was paid in two equal installments, one of which was received in August 2016 for $37.5 million and was recorded as prepaid rent.  The final payment of $37.5 million was received in January 2017, at which time Treasury Wine Estates became the guarantor of our leases on those properties.  We have accounted for this transaction as a lease modification and the additional rent will be recognized on a straight-line basis over the remaining lease terms of approximately 15 years.

 

 

4.                           Investments in Real Estate

 

We acquire land, buildings and improvements necessary for the successful operations of commercial tenants.

 

A.           Acquisitions during 2017 and 2016

During 2017, we invested $1.52 billion in 303 new properties and properties under development or expansion with an initial weighted average contractual lease rate of 6.4%. The 303 new properties and properties under development or expansion are located in 40 states, will contain approximately 7.8 million leasable square feet, and are 100% leased with a weighted average lease term of 14.4 years. The tenants occupying the new properties operate in 23 industries and the property types consist of 94.5% retail and 5.5% industrial, based on rental revenue.  None of our investments during 2017 caused any one tenant to be 10% or more of our total assets at December 31, 2017.

 

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The $1.52 billion invested during 2017 was allocated as follows: $354.1 million to land, $955.1 million to buildings and improvements, $228.0 million to intangible assets related to leases, and $17.8 million to intangible liabilities related to leases and other assumed liabilities. There was no contingent consideration associated with these acquisitions.

 

The properties acquired during 2017 generated total revenues of $37.1 million and net income of $17.9 million during the year ended December 31, 2017.

 

In comparison, during 2016, we invested $1.86 billion in 505 new properties and properties under development or expansion with an initial weighted average contractual lease rate of 6.3%. The 505 new properties and properties under development or expansion were located in 40 states, contained approximately 8.2 million leasable square feet, and were 100% leased with a weighted average lease term of 14.7 years. The tenants occupying the new properties operated in 28 industries and the property types consisted of 86.4% retail and 13.6% industrial, based on rental revenue.

 

The $1.86 billion invested during 2016 was allocated as follows: $517.6 million to land, $1.18 billion to buildings and improvements, $204.5 million to intangible assets related to leases, and $38.8 million to intangible liabilities related to leases and other assumed liabilities. There was no contingent consideration associated with these acquisitions.

 

The properties acquired during 2016 generated total revenues of $44.6 million and net income of $22.0 million during the year ended December 31, 2016.

 

The estimated initial weighted average contractual lease rate for a property is generally computed as estimated contractual net operating income, which, in the case of a net leased property, is equal to the aggregate base rent for the first full year of each lease, divided by the total cost of the property.  Since it is possible that a tenant could default on the payment of contractual rent, we cannot provide assurance that the actual return on the funds invested will remain at the percentages listed above.

 

In the case of a property under development or expansion, the contractual lease rate is generally fixed such that rent varies based on the actual total investment in order to provide a fixed rate of return.  When the lease does not provide for a fixed rate of return on a property under development or expansion, the estimated initial weighted average contractual lease rate is computed as follows: estimated net operating income (determined by the lease) for the first full year of each lease, divided by our projected total investment in the property, including land, construction and capitalized interest costs. Of the $1.52 billion we invested during 2017, $21.2 million was invested in 17 properties under development or expansion with an estimated initial weighted average contractual lease rate of 6.9%. Of the $1.86 billion we invested during 2016, $103.8 million was invested in 33 properties under development or expansion with an estimated initial weighted average contractual lease rate of 7.1%.

 

B.           Acquisition Transaction Costs

Acquisition transaction costs of $255,000 and $346,000 were recorded to general and administrative expense on our consolidated statements of income during 2017 and 2016, respectively.  Subsequent to our adoption of ASU 2017-01 in October 2017, $34,000 of acquisition transactions costs incurred were capitalized as part of the costs of acquisitions.

 

C.           Investments in Existing Properties

During 2017, we capitalized costs of $12.7 million on existing properties in our portfolio, consisting of $1.6 million for re-leasing costs, $912,000 for recurring capital expenditures and $10.2 million for non-recurring building improvements. In comparison, during 2016, we capitalized costs of $16.3 million on existing properties in our portfolio, consisting of $797,000 for re-leasing costs, $679,000 for recurring capital expenditures and $14.9 million for non-recurring building improvements.

 

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D.          Properties with Existing Leases

Of the $1.52 billion we invested during 2017, approximately $1.1 billion was used to acquire 178 properties with existing leases.  In comparison, of the $1.86 billion we invested during 2016, approximately $748.9 million was used to acquire 91 properties with existing leases. The value of the in-place and above-market leases is recorded to acquired lease intangible assets, net on our consolidated balance sheets, and the value of the below-market leases is recorded to acquired lease intangible liabilities, net on our consolidated balance sheets.

 

The values of the in-place leases are amortized as depreciation and amortization expense.  The amounts amortized to expense for all of our in-place leases, for 2017, 2016, and 2015 were $104.8 million, $94.0 million, and $87.9 million, respectively.

 

The values of the above-market and below-market leases are amortized over the term of the respective leases, including any bargain renewal options, as an adjustment to rental revenue on our consolidated statements of income. The amounts amortized as a net decrease to rental revenue for capitalized above-market and below-market leases for 2017, 2016, and 2015 were $14.0 million, $9.3 million, and $7.9 million, respectively.  If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be recorded to revenue or expense as appropriate.

 

The following table presents the estimated impact during the next five years and thereafter related to the amortization of the acquired above-market and below-market lease intangibles and the amortization of the in-place lease intangibles for properties held for investment at December 31, 2017 (in thousands):

 

 

 

Net

 

Increase to

 

 

 

decrease to

 

amortization

 

 

 

rental revenue

 

expense

 

2018

 

  $

(16,527

)

  $

104,612

 

2019

 

(15,545

)

94,374

 

2020

 

(14,776

)

88,679

 

2021

 

(13,484

)

80,513

 

2022

 

(11,753

)

69,700

 

Thereafter

 

(25,373

)

390,798

 

Totals

 

  $

(97,458

)

  $

828,676

 

 

5.                           Credit Facility

 

We have a $2.0 billion unsecured revolving credit facility, or our credit facility, with an initial term that expires in June 2019 and includes, at our option, two six-month extensions. Our credit facility has a $1.0 billion accordion expansion option.  Under our credit facility, our investment grade credit ratings as of December 31, 2017 provide for financing at the London Interbank Offered Rate, commonly referred to as LIBOR, plus 0.85%, with a facility commitment fee of 0.125%, for all-in drawn pricing of 0.975% over LIBOR. The borrowing rate is subject to an interest rate floor and may change if our investment grade credit ratings were to change. We also have other interest rate options available to us under our credit facility. Our credit facility is unsecured and, accordingly, we have not pledged any assets as collateral for this obligation.

 

At December 31, 2017, credit facility origination costs of $4.4 million are included in other assets, net on our consolidated balance sheet. These costs are being amortized over the remaining term of our credit facility.

 

At December 31, 2017, we had a borrowing capacity of $1.89 billion available on our credit facility (subject to customary conditions to borrowing) and an outstanding balance of $110.0 million, as compared to an outstanding balance of $1.12 billion at December 31, 2016.

 

The weighted average interest rate on outstanding borrowings under our credit facility was 2.0% during 2017 and 1.4% during 2016. At December 31, 2017 and 2016, the weighted average interest rate on borrowings outstanding was 4.5% and 1.7%, respectively.  Our credit facility is subject to various leverage and interest coverage ratio limitations, and at December 31, 2017, we were in compliance with the covenants on our credit facility.

 

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6.       Term Loans

 

In December 2017, in conjunction with the acquisition of a portfolio of properties, we entered into a $125.9 million promissory note, maturing in January 2018. Borrowings under this note bore interest at 1.52%. This note was paid in full at maturity.

 

In June 2015, in conjunction with entering into our credit facility, we entered into a $250 million senior unsecured term loan maturing on June 30, 2020.  Borrowing under this term loan bears interest at the current one-month LIBOR, plus 0.90%.  In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.62%.

 

In January 2013, in conjunction with our acquisition of American Realty Capital Trust, Inc., or ARCT, we entered into a $70 million senior unsecured term loan with an initial maturity date of January 2018.  Borrowing under this term loan bears interest at the current one-month LIBOR, plus 1.10%.  In conjunction with this term loan, we also entered into an interest rate swap which effectively fixes our per annum interest rate on this term loan at 2.05%. In January 2018, we entered into a six-month extension of this loan, which now matures in July 2018 and includes, at our option, two additional six-month extensions. Borrowing during the extension periods bear interest at the current one-month LIBOR, plus 0.90%. The interest rate swap terminated upon the initial maturity in January 2018.

 

Deferred financing costs of $1.2 million incurred in conjunction with the $250 million term loan and $303,000 incurred in conjunction with the $70 million term loan are being amortized over the remaining terms of each respective term loan.  The net balance of these deferred financing costs, which was $580,000 at December 31, 2017 and $873,000 at December 31, 2016, is included within term loans, net on our consolidated balance sheets.

 

7.       Mortgages Payable

 

During 2017, we made $139.7 million in principal payments, including the repayment of eight mortgages in full for $133.5 million. No mortgages were assumed during 2017.

 

During 2016, we made $231.7 million in principal payments, including the repayment of 11 mortgages in full for $201.8 million, and we assumed mortgages totaling $44.1 million, excluding net premiums.  During 2016, we refinanced one of these assumed mortgages and received an additional $10.0 million in proceeds. The assumed mortgages are secured by the properties on which the debt was placed and are considered non-recourse debt with limited customary exceptions for items such as solvency, bankruptcy, misrepresentation, fraud, misapplication of payments, environmental liabilities, failure to pay taxes, insurance premiums, liens on the property, violations of the single purpose entity requirements, and uninsured losses.  We expect to pay off our mortgages as soon as prepayment penalties make it economically feasible to do so.

 

During 2016, a premium totaling $692,000 was recorded upon the assumption of a mortgage with an above-market interest rate. Amortization of our net premiums is recorded as a reduction to interest expense over the remaining term of the respective mortgages, using a method that approximates the effective-interest method. Our mortgages contain customary covenants, such as limiting our ability to further mortgage each applicable property or to discontinue insurance coverage without the prior consent of the lender. At December 31, 2017, we were in compliance with these covenants.

 

The balance of our deferred financing costs, which are classified as part of mortgages payable, net, on our consolidated balance sheets, was $236,000 at December 31, 2017 and $324,000 at December 31, 2016. These costs are being amortized over the remaining term of each mortgage.

 

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The following is a summary of all our mortgages payable as of December 31, 2017 and 2016, respectively (dollars in thousands):

 

 

 

 

 

Weighted

 

Weighted

 

Weighted

 

 

 

Unamortized

 

 

 

 

 

 

 

Average

 

Average

 

Average

 

 

 

Premium

 

 

 

 

 

 

 

Stated

 

Effective

 

Remaining

 

Remaining

 

and Deferred

 

Mortgage

 

 

 

Number of

 

Interest

 

Interest

 

Years Until

 

Principal

 

Finance Costs

 

Payable

 

As Of

 

Properties(1)

 

Rate(2)

 

Rate(3)

 

Maturity

 

Balance

 

Balance, net

 

Balance

 

12/31/17

 

62

 

5.0%

 

4.4%

 

4.0

 

$

320,283

 

$

5,658

 

$

325,941

 

12/31/16

 

127

 

4.9%

 

4.3%

 

4.0

 

$

  460,008

 

$

6,037

 

$

466,045

 

 

(1) At December 31, 2017, there were 28 mortgages on 62 properties, while at December 31, 2016, there were 36 mortgages on 127 properties. The mortgages require monthly payments with principal payments due at maturity. The mortgages are at fixed interest rates, except for three mortgages on three properties with a principal balance totaling $29.9 million at December 31, 2017, and six mortgages on 15 properties with a principal balance totaling $76.3 million at December 31, 2016. After factoring in arrangements which limit our exposure to interest rate risk and effectively fix our per annum interest rates, our mortgage debt subject to variable rates totals $22.4 million at December 31, 2017 and $38.2 million at December 31, 2016.

(2) Stated interest rates ranged from 3.4% to 6.9% at December 31, 2017, while stated interest rates ranged from 2.4% to 6.9% at December 31, 2016.

(3) Effective interest rates ranged from 2.6% to 5.5% at December 31, 2017, while effective interest rates ranged from 2.5% to 8.8% at December 31, 2016.

 

The following table summarizes the maturity of mortgages payable, excluding net premiums of $5.9 million and deferred financing costs of $236,000, as of December 31, 2017 (dollars in millions):

 

Year of Maturity

 

Principal

2018

 

$

21.9

2019

 

20.7

2020

 

82.4

2021

 

67.0

2022

 

109.7

Thereafter

 

18.6

Totals

 

$

320.3

 

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8.       Notes Payable

 

A. General

Our senior unsecured notes and bonds consist of the following, sorted by maturity date (dollars in millions):

 

 

 

December 31,

 

December 31,

 

 

 

2017

 

2016

 

5.375% notes, issued in September 2005 and due in September 2017

 

$

-

 

$

175

 

2.000% notes, issued in October 2012 and due in January 2018

 

350

 

350

 

6.750% notes, issued in September 2007 and due in August 2019

 

-

 

550

 

5.750% notes, issued in June 2010 and due in January 2021

 

250

 

250

 

3.250% notes, $450 issued in October 2012 and $500 issued in December 2017, both due in October 2022

 

950

 

450

 

4.650% notes, issued in July 2013 and due in August 2023

 

750

 

750

 

3.875% notes, issued in June 2014 and due in July 2024

 

350

 

350

 

4.125% notes, $250 issued in September 2014 and $400 issued in March 2017, both due in October 2026

 

650

 

250

 

3.000% notes, issued in October 2016 and due in January 2027

 

600

 

600

 

3.650% notes, issued in December 2017 and due in January 2028

 

550

 

-

 

5.875% bonds, $100 issued in March 2005 and $150 issued in June 2011, both due in March 2035

 

250

 

250

 

4.650% notes, $300 issued in March 2017 and $250 issued in December 2017, both due in March 2047

 

550

 

-

 

Total principal amount

 

5,250

 

3,975

 

Unamortized net original issuance premiums and deferred financing costs

 

(20

)

(41

)

 

 

$

5,230

 

$

3,934

 

 

The following table summarizes the maturity of our notes and bonds payable as of December 31, 2017, excluding unamortized net original issuance premiums and deferred financing costs (dollars in millions):

 

Year of Maturity

 

Principal

 

2018

 

$

350

(1)

2019

 

-

 

2020

 

-

 

2021

 

250

 

2022

 

950

 

Thereafter

 

3,700

 

Totals

 

$

5,250

 

 

(1) In January 2018, we repaid all $350 million of outstanding 2.000% notes, plus accrued and unpaid interest.

 

As of December 31, 2017, the weighted average interest rate on our notes and bonds payable was 3.9% and the weighted average remaining years until maturity was 9.3 years.

 

Interest incurred on all of the notes and bonds was $197.1 million for 2017, $171.5 million for 2016 and $179.5 million for 2015. The interest rate on each of these notes and bonds is fixed.

 

Our outstanding notes and bonds are unsecured; accordingly, we have not pledged any assets as collateral for these or any other obligations. Interest on all of the senior note and bond obligations is paid semiannually.

 

All of these notes and bonds contain various covenants, including: (i) a limitation on incurrence of any debt which would cause our debt to total adjusted assets ratio to exceed 60%; (ii) a limitation on incurrence of any secured debt which would cause our secured debt to total adjusted assets ratio to exceed 40%; (iii) a limitation on incurrence of any debt which would cause our debt service coverage ratio to be less than 1.5 times; and (iv) the maintenance at all times of total unencumbered assets not less than 150% of our outstanding unsecured debt. At December 31, 2017, we were in compliance with these covenants.

 

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B. Note Issuances

 

During the three year period ended December 31, 2017 we issued the following notes and bonds (dollars in millions):

 

2017 Issuances

Date of
Issuance

Maturity date

 

Principal
amount
issued

Public
offering
price

Effective yield to
maturity

4.125% notes

March 2017

October 2026 (1)

$

400

102.98%

3.75%

4.650% notes

March 2017

March 2047

 

300

99.97%

4.65%

3.250% notes

December 2017

October 2022 (2)

 

500

101.77%

2.84%

3.650% notes

December 2017

January 2028

 

550

99.78%

3.68%

4.650% notes

December 2017

March 2047 (3)

 

250

105.43%

4.32%

 

2016 Issuances

 

 

 

 

 

3.000% notes

October 2016

January 2027

$

600

98.67%

3.15%

 

 

 

 

 

 

 

(1)   This issuance constitutes a further issuance of, and formed a single series with the senior notes due 2026 issued in September 2014.

(2)   This issuance constituted a further issuance of, and formed a single series with the senior notes due 2022 issued in October 2012.

(3)   This issuance constituted a further issuance of, and formed a single series with the senior notes due 2047 issued in March 2017.

 

The net proceeds of $1.3 billion from the December 2017 note offerings were used to redeem all $550.0 million aggregate principal amount of our outstanding 2019 notes, including accrued and unpaid interest, and to repay borrowings outstanding under our $2.0 billion revolving credit facility and, to the extent not used for those purposes, to fund the development and acquisitions of additional properties and for other general corporate purposes. The net proceeds of $705.2 million from the March 2017 note offerings were used to repay borrowings outstanding under our credit facility to fund investment opportunities and for other general corporate purposes.

 

The net proceeds of approximately $586.7 million from the October 2016 offering were used to repay borrowings outstanding under our credit facility.

 

C. Note Repayment

In December 2017, we completed the early redemption on all $550.0 million of outstanding 6.75% notes due August 2019, plus accrued and unpaid interest. As a result of the early redemption, we recognized a $42.4 million loss on extinguishment of debt, which represents $0.15 on a diluted per common share basis.

 

In September 2017, we repaid our $175.0 million of outstanding 5.375% notes, plus accrued and unpaid interest.

 

In September 2016, we repaid all $275.0 million of outstanding 5.950% notes, plus accrued and unpaid interest.

 

In November 2015, we repaid $150.0 million of outstanding 5.500% notes, plus accrued and unpaid interest.

 

9.       Equity

 

A.   Issuance of Common Stock

In March 2017, we issued 11,850,000 shares of common stock.  After underwriting discounts and other offering costs of $29.8 million, the net proceeds of $704.9 million were used to repay borrowings under our credit facility.

 

In May 2016, we issued 6,500,000 shares of common stock.  After underwriting discounts and other offering costs of $12.1 million, the net proceeds of $383.6 million were used to repay borrowings under our credit facility.

 

In October 2015, we issued 11,500,000 shares of common stock. After underwriting discounts and other offering costs of $22.0 million, a portion of the net proceeds of $517.1 million was used to repay borrowings under our credit facility and the remaining portion was used for other general corporate purposes, including acquisitions. In April 2015, we issued 5,500,000 shares of common stock.  After underwriting discounts and other offering costs of $1.4 million, the net proceeds of $276.4 million were used to repay borrowings under our credit facility.

 

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B.           Redemption of Preferred Stock

In April 2017, we redeemed all of the 16,350,000 shares of our 6.625% Monthly Income Class F Preferred Stock for $25 per share, plus accrued dividends. During 2017, we incurred a non-cash charge of $13.4 million, representing the 6.625% Monthly Income Class F Preferred Stock original issuance costs that we paid in 2012.

 

C.           Dividend Reinvestment and Stock Purchase Plan

Our Dividend Reinvestment and Stock Purchase Plan, or our DRSPP, provides our common stockholders, as well as new investors, with a convenient and economical method of purchasing our common stock and reinvesting their distributions. Our DRSPP also allows our current stockholders to buy additional shares of common stock by reinvesting all or a portion of their distributions. Our DRSPP authorizes up to 26,000,000 common shares to be issued.  During 2017, we issued 1,193,653 shares and raised approximately $69.9 million under our DRSPP.  During 2016, we issued 170,027 shares and raised approximately $10.3 million under our DRSPP.  From the inception of our DRSPP through December 31, 2017, we have issued 14,063,542 shares and raised $661.8 million.

 

Our DRSPP includes a waiver approval process, allowing larger investors or institutions, per a formal approval process, to purchase shares at a small discount, if approved by us. During 2017, we issued 927,695 shares and raised $54.7 million under the waiver approval process. These shares are included in the total activity for 2017 noted in the preceding paragraph. During 2016, we did not issue shares under the waiver approval process.

 

D.           At-the-Market (ATM) Programs

In September 2015, we established an “at-the-market” equity distribution program, or our prior ATM program, pursuant to which we were permitted to offer and sell up to 12,000,000 shares of common stock to, or through, a consortium of banks acting as our sales agents by means of ordinary brokers’ transactions on the NYSE at prevailing market prices or at negotiated prices. In October 2017, following the issuance and sale of the remaining shares under our prior ATM program, we established a new “at-the-market” equity distribution plan, or our new ATM program and, together with our prior ATM program, our ATM programs, pursuant to which we are permitted to offer and sell up to 17,000,000 additional shares of common stock.  During 2017, we issued 10,914,088 shares and raised gross proceeds of $621.7 million under our ATM programs. During 2016, we issued 2,779,140 shares and raised $166.8 million under the ATM program. From the inception of our ATM programs through December 31, 2017, we have issued 14,407,529 shares authorized by our ATM programs and raised $824.8 million.

 

10.     Noncontrolling Interests

 

In January 2013, we completed our acquisition of ARCT.  Equity issued as consideration for this transaction included common and preferred partnership units issued by Tau Operating Partnership, L.P., or Tau Operating Partnership, the consolidated subsidiary which owns properties acquired through the ARCT acquisition.  We and our subsidiaries hold a 99.4% interest in Tau Operating Partnership, and consolidate the entity.

 

In June 2013, we completed the acquisition of a portfolio of properties by issuing common partnership units in Realty Income, L.P.  The units were issued as consideration for the acquisition.  At December 31, 2017, the remaining units from this issuance represent a 0.4% ownership in Realty Income, L.P.  We hold the remaining 99.6% interests in this entity and consolidate the entity.

 

Neither of the common partnership units have voting rights. Both common partnership units are entitled to monthly distributions equal to the amount paid to common stockholders of Realty Income, and are redeemable in cash or Realty Income common stock, at our option, and at a conversion ratio of one to one, subject to certain exceptions.  Noncontrolling interests with redemption provisions that permit the issuer to settle in either cash or common stock, at the option of the issuer, were evaluated to determine whether temporary or permanent equity classification on the balance sheet was appropriate.  We determined that the units meet the requirements to qualify for presentation as permanent equity.

 

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In 2016, we completed the acquisition of two properties by acquiring a controlling interest in two separate joint ventures. We are the managing member of each of these joint ventures, and possess the ability to control the business and manage the affairs of these entities. At December 31, 2017, we and our subsidiaries held 95.0% and 74.0% interests, respectively, and fully consolidated these entities in our consolidated financial statements.

 

The following table represents the change in the carrying value of all noncontrolling interests through December 31, 2017 (dollars in thousands):

 

 

 

Tau Operating

 

Realty Income, L.P.

 

Other
Noncontrolling

 

 

 

 

 

Partnership units(1)

 

units(2)

 

Interests

 

Total

 

Carrying value at December 31, 2015

 

$

13,410

 

$

8,327

 

$

-

 

$

21,737

 

Reallocation of equity

 

491

 

52

 

-

 

543

 

Redemptions

 

-

 

(6,161

)

-

 

(6,161

)

Contributions

 

-

 

-

 

15,906

 

15,906

 

Distributions

 

(762

)

(459

)

(11,461

)

(12,682

)

Allocation of net income

 

266

 

457

 

183

 

906

 

Carrying value at December 31, 2016

 

$

13,405

 

$

2,216

 

$

4,628

 

$

20,249

 

Reallocation of equity

 

492

 

(26

)

19

 

485

 

Redemptions

 

-

 

-

 

-

 

-

 

Distributions

 

(804

)

(224

)

(1,019

)

(2,047

)

Allocation of net income

 

229

 

194

 

97

 

520

 

Carrying value at December 31, 2017

 

$

13,322

 

$

2,160

 

$

3,725

 

$

19,207

 

 

(1)       317,022 Tau Operating Partnership units were issued on January 22, 2013 and remained outstanding as of December 31, 2017 and December 31, 2016.

(2)       534,546 Realty Income, L.P. units were issued on June 27, 2013, and 88,182 remain outstanding as of December 31, 2017 and December 31, 2016.

 

Both Tau Operating Partnership and Realty Income, L.P. are considered variable interest entities, or VIEs, in which we are deemed the primary beneficiary based on our controlling financial interests. Below is a summary of selected financial data of consolidated VIEs, including the joint ventures acquired during 2016, for which we are the primary beneficiary included in the consolidated balance sheets at December 31, 2017 and 2016 (in thousands):

 

 

 

December 31, 2017

 

December 31, 2016

 

Net real estate

 

$

2,936,397

 

$

3,040,903

 

Total assets

 

3,342,443

 

3,499,481

 

Total debt

 

210,384

 

251,047

 

Total liabilities

 

313,295

 

364,797

 

 

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11.     Distributions Paid and Payable

 

A.            Common Stock

We pay monthly distributions to our common stockholders.  The following is a summary of monthly distributions paid per common share for 2017, 2016 and 2015:

 

Month

 

2017

 

2016

 

2015

January

 

$

0.2025000

 

$

0.1910000

 

$

0.1834167

February

 

0.2105000

 

0.1985000

 

0.1890000

March

 

0.2105000

 

0.1985000

 

0.1890000

April

 

0.2110000

 

0.1990000

 

0.1895000

May

 

0.2110000

 

0.1990000

 

0.1895000

June

 

0.2110000

 

0.1990000

 

0.1895000

July

 

0.2115000

 

0.1995000

 

0.1900000

August

 

0.2115000

 

0.1995000

 

0.1900000

September

 

0.2115000

 

0.2015000

 

0.1900000

October

 

0.2120000

 

0.2020000

 

0.1905000

November

 

0.2120000

 

0.2020000

 

0.1905000

December

 

0.2120000

 

0.2020000

 

0.1905000

Total

 

$

2.5270000

 

$

2.3915000

 

$

2.2714167

 

The following presents the federal income tax characterization of distributions paid or deemed to be paid per common share for the years:

 

 

 

2017

 

2016

 

2015

Ordinary income

 

$

1.9402085

 

$

1.8771975

 

$

1.7307023

Nontaxable distributions

 

0.5478464

 

0.5143025

 

0.5407144

Total capital gain distribution

 

0.0389451

 

-

 

-

Totals

 

$

2.5270000

 

$

2.3915000

 

$

2.2714167

 

At December 31, 2017, a distribution of $0.2125 per common share was payable and was paid in January 2018. At December 31, 2016, a distribution of $0.2025 per common share was payable and was paid in January 2017.

 

B.      Class F Preferred Stock

In April 2017, we redeemed all 16,350,000 shares of our Class F preferred stock. During the first three months of 2017, we paid three monthly dividends to holders of our Class F preferred stock totaling $0.414063 per share, or $3.9 million. In April 2017, we paid a final monthly dividend of $0.101215 per share, or $1.7 million, which was recorded as interest expense. For 2017, dividends per share of $0.5073368 were characterized as ordinary income and dividends per share of $0.0079412 were characterized as total capital gain distribution for federal income tax purposes. During 2016 and 2015, we paid twelve monthly dividends to holders of our Class F preferred stock totaling $1.656252 per share, or $27.1 million, which were characterized as ordinary income for federal income tax purposes.

 

12.     Operating Leases

 

A.      At December 31, 2017, we owned 5,172 properties in 49 states and Puerto Rico. Of the 5,172 properties, 5,144, or 99.5%, are single-tenant properties, and the remaining are multi-tenant properties. At December 31, 2017, 83 properties were available for lease or sale.

 

Substantially all leases are net leases where the tenant pays or reimburses us for property taxes and assessments, maintains the interior and exterior of the building and leased premises, and carries insurance coverage for public liability, property damage, fire and extended coverage.

 

Rent based on a percentage of a tenants’ gross sales (percentage rents) was $6.1 million for 2017, $5.3 million for 2016 and $4.5 million for 2015.

 

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At December 31, 2017, minimum future annual rents to be received on the operating leases for the next five years and thereafter are as follows (dollars in thousands):

 

2018

 

$

1,196,996

2019

 

1,157,394

2020

 

1,108,319

2021

 

1,058,806

2022

 

990,585

Thereafter

 

6,319,359

Total

 

$

11,831,459

 

B.      Major Tenants - No individual tenant’s rental revenue, including percentage rents, represented more than 10% of our total revenue for each of the years ended December 31, 2017, 2016 or 2015.

 

13.     Gain on Sales of Real Estate

 

During 2017, we sold 59 properties for $167.0 million, which resulted in a gain of $40.9 million.

 

During 2016, we sold 77 properties for $90.5 million, which resulted in a gain of $22.0 million. Additionally, during 2016 we sold our former corporate headquarters building for $8.6 million.

 

During 2015, we sold 38 properties for $65.8 million, which resulted in a gain of $22.2 million.

 

These property sales do not represent a strategic shift that will have a major effect on our operations and financial results, and therefore do not require presentation as discontinued operations.

 

14.     Fair Value of Financial Instruments

 

Fair value is defined as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The disclosure for assets and liabilities measured at fair value requires allocation to a three-level valuation hierarchy. This valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

 

We believe that the carrying values reflected in our consolidated balance sheets reasonably approximate the fair values for cash and cash equivalents, accounts receivable, escrow deposits, loans receivable, line of credit payable, term loans and all other liabilities, due to their short-term nature or interest rates and terms that are consistent with market, except for our notes receivable issued in connection with property sales, mortgages payable and our senior notes and bonds payable, which are disclosed as follows (dollars in millions):

 

 

 

 

 

Estimated fair

 

At December 31, 2017

 

Carrying value

 

value

 

Notes receivable issued in connection with property sales

 

$

5.3

 

$

5.3

 

Mortgages payable assumed in connection with acquisitions (1)

 

320.3

 

334.2

 

Notes and bonds payable (2)

 

5,250.0

 

5,475.3

 

 

 

 

 

 

 

 

 

 

 

Estimated fair

 

At December 31, 2016

 

Carrying value

 

value

 

Notes receivable issued in connection with property sales

 

$

5.4

 

$

5.5

 

Mortgages payable assumed in connection with acquisitions (1)

 

460.0

 

468.7

 

Notes and bonds payable (2)

 

3,975.0

 

4,143.3

 

 

(1) Excludes non-cash net premiums recorded on the mortgages payable. The unamortized balance of these net premiums is $5.9 million at December 31, 2017, and $6.4 million at December 31, 2016. Also excludes deferred financing costs of $236,000 at December 31, 2017, and $324,000 at December 31, 2016.

(2) Excludes non-cash net original issuance premiums and discounts recorded on notes payable. The unamortized balance of the net original issuance premiums is $14.3 million at December 31, 2017, and the unamortized balance of the net original issuance discounts of $19.8 million at December 31, 2016. Also excludes deferred financing costs of $34.1 million at December 31, 2017 and $20.8 million at December 31, 2016.

 

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The estimated fair values of our notes receivable issued in connection with property sales and our mortgages payable have been calculated by discounting the future cash flows using an interest rate based upon the relevant forward interest rate curve, plus an applicable credit-adjusted spread.  Because this methodology includes unobservable inputs that reflect our own internal assumptions and calculations, the measurement of estimated fair values related to our notes receivable and mortgages payable is categorized as level three on the three-level valuation hierarchy.

 

The estimated fair values of our senior notes and bonds payable are based upon indicative market prices and recent trading activity of our senior notes and bonds payable. Because this methodology includes inputs that are less observable by the public and are not necessarily reflected in active markets, the measurement of the estimated fair values, related to our notes and bonds payable, is categorized as level two on the three-level valuation hierarchy.

 

We record interest rate swaps on the consolidated balance sheet at fair value. At December 31, 2017, interest rate swaps in a liability position valued at $473,000 were included in accounts payable and accrued expenses and interest rate swaps in an asset position valued at $1.7 million were included in other assets, net on the consolidated balance sheet.  The fair value of our interest rate swaps are based on valuation techniques including discounted cash flow analysis on the expected cash flows of each swap, using both observable and unobservable market-based inputs, including interest rate curves.  Because this methodology uses observable and unobservable inputs, and the unobservable inputs are not significant to the fair value measurement, the measurement of interest rate swaps is categorized as level two on the three-level valuation hierarchy.

 

15.     Supplemental Disclosures of Cash Flow Information

 

Cash paid for interest was $240.4 million in 2017, $214.3 million in 2016, and $229.5 million in 2015.

 

Interest capitalized to properties under development was $461,000 in 2017, $469,000 in 2016, and $594,000 in 2015.

 

Cash paid for income taxes was $3.8 million in 2017, $3.6 million in 2016, and $3.1 million in 2015.

 

The following non-cash activities are included in the accompanying consolidated financial statements:

 

A.     See note 9 for a discussion of the $13.4 million excess of redemption value over carrying value of preferred shares subject to redemption charge recorded in 2017.

 

B.     During 2017, we completed the acquisition of a portfolio of properties by entering into a note payable in the amount of $125.9 million with the seller, maturing in January 2018. This note was paid in full at maturity.

 

C.     During 2016, we assumed mortgages payable to third-party lenders of $44.1 million and recorded a premium of $692,000.

 

D.    During 2016, consolidated joint venture members made real estate contributions of $15.9 million, net of contributed mortgages payable included in the figures disclosed above in note 15.C.

 

E.     Accrued costs on properties under development resulted in an increase in buildings and improvements and accounts payable of $2.6 million at December 31, 2016.

 

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Per the requirements of ASU 2016-18, the following table provides a reconciliation of cash and cash equivalents reported within the consolidated balance sheets to the total of the cash, cash equivalents and restricted cash reported within the consolidated statements of cash flows.

 

 

 

December 31, 2017

 

December 31, 2016

 

Cash and cash equivalents shown in the consolidated balance sheets

 

$

6,898

 

$

9,420

 

Impounds related to mortgages payable (1)

 

4,565

 

2,015

 

Restricted escrow deposits (1)

 

679

 

4,246

 

Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows

 

$

12,142

 

$

15,681

 

 

 

 

 

 

 

(1)      Included within other assets, net on the consolidated balance sheets (See note 3). These amounts consist of cash we are legally entitled to that is not immediately available to us, hence, they were considered restricted as of the dates presented.

 

16.     Employee Benefit Plan

 

We have a 401(k) plan covering substantially all of our employees. Under our 401(k) plan, employees may elect to make contributions to the plan up to a maximum of 60% of their compensation, subject to limits under the Code. We match 50% of each of our employee’s salary deferrals up to the first 6% of the employee’s eligible compensation. Our aggregate matching contributions each year have been immaterial to our results of operations.

 

17.     Common Stock Incentive Plan

 

In 2012, our Board of Directors adopted and stockholders approved the Realty Income Corporation 2012 Incentive Award Plan, or the 2012 Plan, to enable us to motivate, attract and retain the services of directors and employees considered essential to our long-term success. The 2012 Plan offers our directors and employees an opportunity to own our stock or rights that will reflect our growth, development and financial success. Under the terms of the 2012 plan, the aggregate number of shares of our common stock subject to options, restricted stock, stock appreciation rights, restricted stock units and other awards, will be no more than 3,985,734 shares. The 2012 Plan has a term of ten years from the date it was adopted by our Board of Directors.

 

The amount of share-based compensation costs recognized in general and administrative expense on our consolidated statements of income was $13.9 million during 2017, $12.0 million during 2016, and $10.4 million during 2015.

 

A.   Restricted Stock

 

The following table summarizes our common stock grant activity under our 2012 Plan. Our outstanding restricted stock vests over periods ranging from immediately to five years.

 

 

 

2017

 

2016

 

2015

 

 

 

 

Weighted

 

 

 

Weighted

 

 

 

Weighted

 

 

Number of

 

average

 

Number of

 

average

 

Number of

 

average

 

 

shares

 

price(1)

 

shares

 

price(1)

 

shares

 

price(1)

Outstanding nonvested shares, beginning of year

 

513,523

 

$

48.33

 

456,282

 

$

30.46

 

527,176

 

$

29.02

Shares granted

 

149,264

 

$

59.21

 

260,171

 

$

54.14

 

161,949

 

$

50.87

Shares vested

 

(183,381

)

$

46.65

 

(200,066

)

$

43.26

 

(205,248

)

$

37.70

Shares forfeited

 

(3,638

)

$

56.57

 

(2,864

)

$

48.15

 

(27,595

)

$

45.58

Outstanding nonvested shares, end of each period

 

475,768

 

$

52.32

 

513,523

 

$

48.33

 

456,282

 

$

30.46

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Grant date fair value.

 

 

 

 

 

 

 

 

 

 

 

 

 

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The vesting schedule for shares granted to non-employee directors is as follows:

·   For directors with less than six years of service at the date of grant, shares vest in 33.33% increments on each of the first three anniversaries of the date the shares of stock are granted;

·   For directors with six years of service at the date of grant, shares vest in 50% increments on each of the first two anniversaries of the date the shares of stock are granted;

·   For directors with seven years of service at the date of grant, shares are 100% vested on the first anniversary of the date the shares of stock are granted; and

·   For directors with eight or more years of service at the date of grant, there is immediate vesting as of the date the shares of stock are granted.

 

During 2017, 28,000 shares were granted to our Board of Directors, of which 20,000 vested immediately and 8,000 shares vest annually in equal parts over a three-year service period.

 

Shares granted to employees typically vest annually in equal parts over a four-year or five-year service period. During 2017, 121,264 shares were granted to our employees, of which 48,338 will vest over a five-year service period and 72,926 will vest over a four-year service period.

 

As of December 31, 2017, the remaining unamortized share-based compensation expense related to restricted stock totaled $18.0 million, which is being amortized on a straight-line basis over the service period of each applicable award. The amount of share-based compensation is based on the fair value of the stock at the grant date. We define the grant date as the date the recipient and Realty Income have a mutual understanding of the key terms and condition of the award, and the recipient of the grant begins to benefit from, or be adversely affected by, subsequent changes in the price of the shares.

 

B.    Performance Shares

 

During 2017, 2016 and 2015, we granted performance share awards, as well as dividend equivalent rights, to our executive officers.  The number of performance shares that vest is based on the achievement of the following performance goals:

 

2017 Performance Awards Metrics

 

Weighting

Total shareholder return (“TSR”) relative to RMS Index

 

45%

TSR relative to JP Morgan Net Lease Peers

 

26%

Dividend per share growth rate

 

16%

Debt-to-EBITDA ratio

 

13%

 

 

 

2016 & 2015 Performance Awards Metrics

 

Weighting

Total shareholder return (“TSR”) relative to MSCI US REIT Index

 

50%

TSR relative to NAREIT Freestanding Index

 

20%

Dividend per share growth rate

 

20%

Debt-to-EBITDA ratio

 

10%

 

The performance shares are earned based on our performance, and vest 50% on the first and second January 1 after the end of the three year performance period, subject to continued service. The performance period for the 2015 performance awards began on January 1, 2015 and ended on December 31, 2017. The performance period for the 2016 performance awards began on January 1, 2016 and will end on December 31, 2018. The performance period for the 2017 performance awards began on January 1, 2017 and will end on December 31, 2019.

 

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The fair value of the performance shares was estimated on the date of grant using a Monte Carlo Simulation model. The following table summarizes our performance share grant activity:

 

 

 

2017

 

2016

 

2015

 

 

Number of

 

Weighted

 

Number of

 

Weighted

 

Number of

 

Weighted

 

 

performance

 

average

 

performance

 

average

 

performance

 

average

 

 

shares

 

price(1)

 

shares

 

price(1)

 

shares

 

price(1)

Outstanding nonvested shares, beginning of year

 

159,751

 

$

49.95

 

115,121

 

$

46.94

 

59,405

 

$

41.46

Shares granted

 

124,681

 

$

71.79

 

58,575

 

$

55.07

 

55,716

 

$

52.78

Shares vested

 

(39,123

)

$

41.60

 

(10,454

)

$

44.54

 

-

 

$

-

Shares forfeited

 

-

 

$

-

 

(3,491

)

$

52.55

 

-

 

$

-

Outstanding nonvested shares, end of each period

 

245,309

 

$

62.49

 

159,751

 

$

49.95

 

115,121

 

$

46.94

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Grant date fair value.

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2017, the remaining share-based compensation expense related to the performance shares totaled $7.9 million and is being recognized on a tranche-by-tranche basis over the service period.

 

C.    Restricted Stock Units

 

During 2017 and 2016 we also granted restricted stock units that vest over a four-year or a five-year service period and have the same economic rights as shares of restricted stock:

 

 

 

2017

 

2016

 

2015

 

 

Number of

 

Weighted

 

Number of

 

Weighted

 

Number of

 

Weighted

 

 

restricted stock

 

average

 

restricted stock

 

average

 

restricted stock

 

average

 

 

units

 

price(1)

 

units

 

price(1)

 

units

 

price(1)

Outstanding nonvested shares, beginning of year

 

18,460

 

$

52.65

 

10,136

 

$

52.21

 

-

 

$

-

Shares granted

 

10,467

 

$

60.56

 

14,783

 

$

52.76

 

10,136

 

$

52.21

Shares vested

 

(4,058

)

$

52.70

 

(6,459

)

$

52.21

 

-

 

$

-

Outstanding nonvested shares, end of each period

 

24,869

 

$

55.97

 

18,460

 

$

52.65

 

10,136

 

$

52.21

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Grant date fair value.

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2017, the remaining share-based compensation expense related to the restricted stock units totaled $935,000 and is being recognized on a straight-line basis over the service period.

 

18.     Segment Information

 

We evaluate performance and make resource allocation decisions on an industry by industry basis. For financial reporting purposes, we have grouped our tenants into 47 activity segments. All of the properties are incorporated into one of the applicable segments. Because almost all of our leases require the tenant to pay operating expenses, rental revenue is the only component of segment profit and loss we measure.

 

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The following tables set forth certain information regarding the properties owned by us, classified according to the business of the respective tenants (dollars in thousands):

 

Assets, as of December 31:

 

2017

 

2016

 

Segment net real estate:

 

 

 

 

 

Apparel

 

$

164,919

 

$

175,418

 

Automotive service

 

213,156

 

152,220

 

Automotive tire services

 

247,557

 

238,151

 

Beverages

 

289,170

 

293,447

 

Child care

 

61,527

 

49,584

 

Convenience stores

 

997,170

 

1,050,285

 

Dollar stores

 

1,105,097

 

1,120,896

 

Drug stores

 

1,518,443

 

1,541,846

 

Financial services

 

384,867

 

408,228

 

General merchandise

 

313,181

 

248,040

 

Grocery stores

 

793,286

 

464,359

 

Health and fitness

 

896,430

 

823,697

 

Home improvement

 

407,002

 

311,459

 

Motor vehicle dealerships

 

204,651

 

197,713

 

Restaurants-casual dining

 

494,977

 

511,863

 

Restaurants-quick service

 

681,763

 

574,532

 

Theaters

 

566,585

 

370,732

 

Transportation services

 

776,068

 

796,717

 

Wholesale club

 

426,551

 

439,557

 

Other non-reportable segments

 

2,134,099

 

2,135,047

 

Total segment net real estate

 

12,676,499

 

11,903,791

 

 

 

 

 

 

 

Intangible assets:

 

 

 

 

 

Apparel

 

36,600

 

43,786

 

Automotive service

 

64,388

 

33,160

 

Automotive tire services

 

10,383

 

11,533

 

Beverages

 

2,022

 

2,280

 

Convenience stores

 

45,445

 

14,372

 

Dollar stores

 

47,905

 

51,249

 

Drug stores

 

173,893

 

182,981

 

Financial services

 

24,867

 

29,749

 

General merchandise

 

50,184

 

43,248

 

Grocery stores

 

140,780

 

65,412

 

Health and fitness

 

76,276

 

63,574

 

Home improvement

 

61,045

 

49,932

 

Motor vehicle dealerships

 

31,720

 

25,032

 

Restaurants-casual dining

 

20,079

 

22,058

 

Restaurants-quick service

 

51,711

 

43,356

 

Theaters

 

26,448

 

13,822

 

Transportation services

 

87,162

 

101,664

 

Wholesale club

 

29,596

 

32,723

 

Other non-reportable segments

 

214,426

 

252,389

 

 

 

 

 

 

 

Goodwill:

 

 

 

 

 

Automotive service

 

437

 

440

 

Automotive tire services

 

862

 

862

 

Child care

 

4,924

 

4,945

 

Convenience stores

 

2,004

 

2,008

 

Restaurants-casual dining

 

2,062

 

2,107

 

Restaurants-quick service

 

1,064

 

1,068

 

Other non-reportable segments

 

3,617

 

3,637

 

Other corporate assets

 

171,767

 

151,693

 

Total assets

 

$

14,058,166

 

$

13,152,871

 

 

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Revenue for the years ended December 31,

 

2017

 

2016

 

2015

 

Segment rental revenue:

 

 

 

 

 

 

 

Apparel

 

$

19,190

 

$

19,975

 

$

19,819

 

Automotive service

 

25,291

 

20,212

 

18,632

 

Automotive tire services

 

29,560

 

28,754

 

28,627

 

Beverages

 

31,174

 

27,587

 

25,451

 

Child care

 

20,775

 

19,712

 

19,949

 

Convenience stores

 

111,023

 

91,784

 

90,093

 

Dollar stores

 

91,076

 

90,746

 

88,126

 

Drug stores

 

126,555

 

117,758

 

103,324

 

Financial services

 

28,744

 

18,769

 

17,044

 

General merchandise

 

23,752

 

18,976

 

16,411

 

Grocery stores

 

50,731

 

32,815

 

29,506

 

Health and fitness

 

88,146

 

85,901

 

75,881

 

Home improvement

 

30,324

 

25,695

 

23,112

 

Motor vehicle dealerships

 

23,989

 

20,329

 

15,332

 

Restaurants-casual dining

 

43,876

 

42,312

 

37,645

 

Restaurants-quick service

 

59,638

 

52,674

 

41,407

 

Theaters

 

58,443

 

51,926

 

49,456

 

Transportation services

 

62,337

 

57,694

 

51,745

 

Wholesale club

 

37,646

 

37,531

 

37,391

 

Other non-reportable segments

 

203,954

 

196,263

 

187,914

 

Total rental revenue

 

1,166,224

 

1,057,413

 

976,865

 

Tenant reimbursements

 

46,082

 

43,104

 

42,015

 

Other revenue

 

3,462

 

2,655

 

4,405

 

Total revenue

 

$

1,215,768

 

$

1,103,172

 

$

1,023,285

 

 

19.     Commitments and Contingencies

 

In the ordinary course of business, we are party to various legal actions which we believe are routine in nature and incidental to the operation of our business. We believe that the outcome of the proceedings will not have a material adverse effect upon our consolidated financial position or results of operations.

 

At December 31, 2017, we had commitments of $13.8 million for re-leasing costs, recurring capital expenditures, and non-recurring building improvements. In addition, as of December 31, 2017, we had committed $64.4 million under construction contracts, which is expected to be paid in the next twelve months.

We have certain properties that are subject to ground leases which are accounted for as operating leases. At December 31, 2017, minimum future rental payment for the next five years and thereafter are as follows (dollars in millions):

 

 

 

Ground Leases

 

Ground Leases

 

 

 

 

 

Paid by

 

Paid by

 

 

 

 

 

Realty Income (1)

 

Our Tenants (2)

 

Total

 

2018

 

$

1.7

 

$

13.5

 

$

15.2

 

2019

 

1.5

 

13.4

 

14.9

 

2020

 

1.4

 

13.2

 

14.6

 

2021

 

1.2

 

12.9

 

14.1

 

2022

 

1.2

 

12.8

 

14.0

 

Thereafter

 

20.9

 

94.1

 

115.0

 

Total

 

$

27.9

 

$

159.9

 

$

187.8

 

 

(1)

Realty Income currently pays the ground lessors directly for the rent under the ground leases.

(2)

Our tenants, who are generally sub-tenants under the ground leases, are responsible for paying the rent under these ground leases.  In the event a tenant fails to pay the ground lease rent, we are primarily responsible.

 

20.     Subsequent Events

 

·                  In January and February 2018, we declared a dividend of $0.219, which will be paid in February 2018 and March 2018, respectively.

·                  In January 2018, we repaid all $350.0 million of outstanding 2.000% notes, plus accrued and unpaid interest.

·                  In January 2018, we repaid all $125.9 million of outstanding 1.520% notes, plus accrued and unpaid interest.

 

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REALTY INCOME CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY FINANCIAL DATA

(dollars in thousands, except per share data)

(not covered by Report of Independent Registered Public Accounting Firm)

 

 

 

 

First

 

Second

 

Third

 

Fourth

 

 

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Year (1)

 

2017

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

$

298,025

 

$

300,170

 

$

306,920

 

$

310,654

 

$

1,215,768

 

Depreciation and amortization expense

 

121,097

 

123,089

 

127,569

 

127,033

 

498,788

 

Interest expense

 

59,305

 

63,679

 

62,951

 

61,477

 

247,413

 

Other expenses

 

39,120

 

34,982

 

32,646

 

41,974

 

148,721

 

Net income

 

89,035

 

81,259

 

88,073

 

60,952

 

319,318

 

Net income available to common stockholders

 

71,586

 

81,136

 

87,940

 

60,852

 

301,514

 

Net income per common share

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

0.27

 

0.30

 

0.32

 

0.22

 

1.10

 

Dividends paid per common share

 

0.6235

 

0.6330

 

0.6345

 

0.6360

 

2.5270

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

$

267,116

 

$

271,039

 

$

277,174

 

$

287,843

 

$

1,103,172

 

Depreciation and amortization expense

 

107,933

 

110,342

 

113,917

 

117,752

 

449,943

 

Interest expense

 

60,678

 

57,409

 

52,952

 

48,935

 

219,974

 

Other expenses

 

30,310

 

35,878

 

37,438

 

35,128

 

138,757

 

Net income

 

70,484

 

76,068

 

77,202

 

92,724

 

316,477

 

Net income available to common stockholders

 

63,473

 

69,045

 

70,302

 

85,671

 

288,491

 

Net income per common share

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

0.25

 

0.27

 

0.27

 

0.33

 

1.13

 

Dividends paid per common share

 

0.5880

 

0.5970

 

0.6005

 

0.6060

 

2.3915

 

(1)  Amounts for each period are calculated independently.  The sum of the quarters may differ from the annual amount.

 

Item 9:                                  Changes In and Disagreements With Accountants on Accounting and Financial Disclosure

 

We have had no disagreements with our independent registered public accounting firm on accounting matters or financial disclosure, nor have we changed accountants in the two most recent fiscal years.

 

Item 9A:                         Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended) that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

 

As of and for the year ended December 31, 2017, we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer. Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective and were operating at a reasonable assurance level.

 

Management’s Report on Internal Control Over Financial Reporting

Internal control over financial reporting refers to the process designed by, or under the supervision of, our Chief Executive Officer and Chief Financial Officer, and effected by our Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles, and includes those policies and procedures that:

 

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(1) Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company;

 

(2) Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and

 

(3) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements.

 

Management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company.

 

Management has used the framework set forth in the report entitled “Internal Control--Integrated Framework (2013)” published by the Committee of Sponsoring Organizations of the Treadway Commission to evaluate the effectiveness of the Company’s internal control over financial reporting. Management has concluded that the Company’s internal control over financial reporting was effective as of the end of the most recent fiscal year.  KPMG LLP has issued an attestation report on the effectiveness of the Company’s internal control over financial reporting.

 

Submitted on February 22, 2018 by,

 

John P. Case, Chief Executive Officer

Paul M. Meurer, Executive Vice President, Chief Financial Officer, and Treasurer

 

Changes in Internal Controls

There were no changes to our internal control over financial reporting that occurred during the quarter ended December 31, 2017 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.  As of December 31, 2017, there were no material weaknesses in our internal controls, and therefore, no corrective actions were taken.

 

Limitations on the Effectiveness of Controls

Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations. Internal control over financial reporting is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of such limitations, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

 

Item 9B:                         Other Information

 

None.

 

PART III

 

Item 10:                           Directors, Executive Officers and Corporate Governance

 

The information required by this item is set forth under the captions “Board of Directors” and “Executive Officers of the Company” and “Section 16(a) Beneficial Ownership Reporting Compliance” in our definitive Proxy Statement for the 2018 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference. The Annual Meeting of Stockholders is presently scheduled to be held on May 18, 2018.

 

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Item 11:                           Executive Compensation

 

The information required by this item is set forth under the caption “Executive Compensation” in our definitive Proxy Statement for the 2018 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference.

 

Item 12:                           Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

 

The information required by this item is set forth under the caption “Security Ownership of Certain Beneficial Owners and Management” in our definitive Proxy Statement for the 2018 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference.

 

Item 13:                           Certain Relationships, Related Transactions and Director Independence

 

The information required by this item is set forth under the caption “Related Party Transactions” in our definitive Proxy Statement for the 2018 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference.

 

Item 14:                           Principal Accounting Fees and Services

 

The information required by this item is set forth under the caption “Independent Registered Public Accounting Firm Fees and Services” in our definitive Proxy Statement for the 2018 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A, and is incorporated herein by reference.

 

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PART IV

 

Item 15:                           Exhibits and Financial Statement Schedules

 

A.                         The following documents are filed as part of this report.

 

1.             Financial Statements (see Item 8)

 

a.                          Reports of Independent Registered Public Accounting Firm

 

b.                         Consolidated Balance Sheets,

December 31, 2017 and 2016

 

c.                          Consolidated Statements of Income,

Years ended December 31, 2017, 2016 and 2015

 

d.                         Consolidated Statements of Equity,

Years ended December 31, 2017, 2016 and 2015

 

e.                          Consolidated Statements of Cash Flows,

Years ended December 31, 2017, 2016 and 2015

 

f.                            Notes to Consolidated Financial Statements

 

g.                         Consolidated Quarterly Financial Data,

(unaudited) for 2017 and 2016

 

2.             Financial Statement Schedule.  Reference is made to page F-1 of this report for Schedule III Real Estate and Accumulated Depreciation (electronically filed with the Securities and Exchange Commission).

 

Schedules not Filed:  All schedules, other than those indicated in the Table of Contents, have been omitted as the required information is either not material, inapplicable or the information is presented in the financial statements or related notes.

 

3.             Exhibits

 

Articles of Incorporation and By-Laws

 

Exhibit No.

 

Description

 

 

 

2.1

 

Agreement and Plan of Merger, dated as of September 6, 2012, by and among Realty Income Corporation, Tau Acquisition LLC and American Realty Capital Trust, Inc. (filed as exhibit 2.1 to the Company’s Form 8-K, filed on September 6, 2012 and incorporated herein by reference).

 

 

 

2.2

 

First Amendment to Agreement and Plan of Merger, dated as of January 6, 2013, by and among Realty Income Corporation, Tau Acquisition LLC and American Realty Capital Trust, Inc. (filed as exhibit 2.1 to the Company’s Form 8-K, filed on January 7, 2013 and incorporated herein by reference).

 

 

 

3.1

 

Articles of Incorporation of the Company, as amended by amendment No. 1 dated May 10, 2005 and amendment No. 2 dated May 10, 2005 (filed as exhibit 3.1 to the Company’s Form 10-Q for the quarter ended June 30, 2005 and incorporated herein by reference), amendment No. 3 dated July 29, 2011 (filed as exhibit 3.1 to the Company’s Form 8-K, filed on August 2, 2011 and incorporated herein by reference); and amendment No. 4 dated June 21, 2012 (filed as exhibit 3.1 to the Company’s Form 8-K, filed on June 21, 2012 and incorporated herein by reference).

 

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3.2

 

Amended and Restated Bylaws of the Company dated June 16, 2015 (filed as exhibit 3.1 to the Company’s Form 8-K filed on June 17, 2015 and incorporated herein by reference)

 

 

 

3.3

 

Articles Supplementary to the Articles of Incorporation of the Company classifying and designating the 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock, dated February 3, 2012 (the “First Class F Articles Supplementary”) (filed as exhibit 3.1 to the Company’s Form 8-K, filed on February 3, 2012 and incorporated herein by reference).

 

 

 

3.4

 

Certificate of Correction to the First Class F Articles Supplementary, dated April 11, 2012 (filed as exhibit 3.2 to the Company’s Form 8-K, filed on April 17, 2012 and incorporated herein by reference).

 

 

 

3.5

 

Articles Supplementary to the Articles of Incorporation of the Company classifying and designating additional shares of the 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock, dated April 17, 2012 (filed as exhibit 3.3 to the Company’s Form 8-K, filed on April 17, 2012 and incorporated herein by reference).

 

 

 

Instruments defining the rights of security holders, including indentures

 

 

 

4.1

 

Indenture dated as of October 28, 1998 between the Company and The Bank of New York (filed as exhibit 4.1 to the Company’s Form 8-K, filed on October 28, 1998 and incorporated herein by reference).

 

 

 

4.2

 

Form of 5.875% Senior Notes due 2035 (filed as exhibit 4.2 to the Company’s Form 8-K, filed on March 11, 2005 and incorporated herein by reference).

 

 

 

4.3

 

Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York, as Trustee, establishing a series of securities entitled 5.875% Senior Debentures due 2035 (filed as exhibit 4.3 to the Company’s Form 8-K, filed on March 11, 2005 and incorporated herein by reference).

 

 

 

4.4

 

Form of 5.750% Notes due 2021 (filed as exhibit 4.2 to Company’s Form 8-K, filed on June 29, 2010 and incorporated herein by reference).

 

 

 

4.5

 

Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as Successor Trustee, establishing a series of securities entitled 5.750% Notes due 2021 (filed as exhibit 4.3 to the Company’s Form 8-K, filed on June 29, 2010 and incorporated herein by reference).

 

 

 

4.6

 

Form of Common Stock Certificate (filed as exhibit 4.16 to the Company’s Form 10-Q for the quarter ended September 30, 2011 and incorporated herein by reference).

 

 

 

4.7

 

Form of Preferred Stock Certificate representing the 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock (filed as exhibit 4.1 to the Company’s Form 8-K, filed on February 3, 2012 and incorporated herein by reference).

 

 

 

4.8

 

Form of 2.000% Note due 2018 (filed as exhibit 4.2 to Company’s Form 8-K, filed on October 10, 2012 and incorporated herein by reference).

 

 

 

4.9

 

Form of 3.250% Note due 2022 (filed as exhibit 4.3 to Company’s Form 8-K, filed on October 10, 2012 and incorporated herein by reference).

 

 

 

4.10

 

Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “2.000% Notes due 2018” and establishing a series of securities entitled “3.250% Notes due 2022” (filed as exhibit 4.4 to the Company’s Form 8-K, filed on October 10, 2012 and incorporated herein by reference).

 

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4.11

 

Form of 4.650% Note due 2023 (filed as exhibit 4.2 to Company’s Form 8-K, filed on July 16, 2013 and incorporated herein by reference).

 

 

 

4.12

 

Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “4.650% Notes due 2023” (filed as exhibit 4.3 to the Company’s Form 8-K, filed on July 16, 2013 and incorporated herein by reference).

 

 

 

4.13

 

Form of 3.875% Note due 2024 (filed as exhibit 4.2 to Company’s Form 8-K, filed on June 25, 2014 and incorporated herein by reference).

 

 

 

4.14

 

Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “3.875% Notes due 2024” (filed as exhibit 4.3 to the Company’s Form 8-K, filed on June 25, 2014 and incorporated herein by reference).

 

 

 

4.15

 

Form of 4.125% Note due 2026 (filed as exhibit 4.2 to Company’s Form 8-K, filed on September 23, 2014 and incorporated herein by reference).

 

 

 

4.16

 

Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “4.125% Notes due 2026” (filed as exhibit 4.3 to the Company’s Form 8-K, filed on September 23, 2014 and incorporated herein by reference).

 

 

 

4.17

 

Form of 3.000% Note due 2027 (filed as exhibit 4.2 to Company’s Form 8-K, filed on October 12, 2016 and incorporated herein by reference).

 

 

 

4.18

 

Officer’s Certificate pursuant to sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “3.000% Notes due 2027” (filed as exhibit 4.3 to the Company’s Form 8-K, filed on October 12, 2016 and incorporated herein by reference).

 

 

 

4.19

 

Form of 4.650% Note due 2047 (filed as exhibit 4.2 to Company’s Form 8-K, filed on March 15, 2017 and incorporated herein by reference).

 

 

 

4.20

 

Form of 4.125% Note due 2026 (filed as exhibit 4.3 to Company’s Form 8-K, filed on March 15, 2017 and incorporated herein by reference).

 

 

 

4.21

 

Officers’ Certificate pursuant to Sections 201, 301, and 303 of the Indenture dated October 28, 1998 between the Company and The bank of New York Mellon Trust Company, N.A. as successor trustee, establishing a series of securities entitled “4.650% Notes due 2047” and re-opening a series of securities entitled “4.125% Notes due 2026” (filed as exhibit 4.4 to Company’s Form 8-K, filed on March 15, 2017 and incorporated herein by reference).

 

 

 

4.22

 

Form of 3.650% Note due 2028 (filed as exhibit 4.2 to Company’s Form 8-K, filed on December 6, 2017 and incorporated herein by reference).

 

 

 

4.23

 

Form of 3.250% Note due 2022 (filed as exhibit 4.3 to Company’s Form 8-K, filed on December 6, 2017 and incorporated herein by reference).

 

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Table of Contents

 

4.24

 

Form of 4.650% Note due 2047 (filed as exhibit 4.4 to Company’s Form 8-K, filed on December 6, 2017 and incorporated herein by reference).

 

 

 

4.25

 

Officers’ Certificate pursuant to Sections 201, 301 and 303 of the Indenture dated October 28, 1998 between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, establishing a series of securities entitled “3.650% Notes due 2028” and re-opening a series of securities entitled “3.250% Notes due 2022” and “4.650% Notes due 2047.” (filed as exhibit 4.5 to the Company’s Form 8-K, filed on December 6, 2017 and incorporated herein by reference).

 

 

 

Material Contracts

 

 

 

10.1

 

Management Incentive Plan (filed as Exhibit 10.10 to the Company’s Form 10-K for the year ended December 31, 1997 and incorporated herein by reference).

 

 

 

10.2

 

Form of Nonqualified Stock Option Agreement for Independent Directors (filed as Exhibit 10.11 to the Company’s Form 10-K for the year ended December 31, 1997 and incorporated herein by reference).

 

 

 

10.3

 

Form of Restricted Stock Agreement between the Company and Executive Officers under the 2003 Stock Incentive Award Plan of Realty Income Corporation (filed as exhibit 10.11 to the Company’s Form 8-K, filed on January 6, 2005 and dated January 1, 2005 and incorporated herein by reference).

 

 

 

10.4

 

2003 Stock Incentive Award Plan of Realty Income Corporation, as amended and restated February 21, 2006 (filed as exhibit 10.10 to the Company’s Form 10-K for the year ended December 31, 2005 and incorporated herein by reference).

 

 

 

10.5

 

Amendment dated May 15, 2007 to the Amended and Restated 2003 Stock Incentive Award Plan of Realty Income Corporation (filed as exhibit 10.1 to the Company’s Form 10-Q, for the quarter ended June 30, 2007 and incorporated herein by reference).

 

 

 

10.6

 

Form of Restricted Stock Agreement under the 2003 Stock Incentive Award Plan of Realty Income Corporation (filed as exhibit 10.2 to the Company’s Form 10-Q, for the quarter ended June 30, 2007 and incorporated herein by reference).

 

 

 

10.7

 

Amended and Restated Form of Employment Agreement between the Company and its Executive Officers (filed as exhibit 10.1 to the Company’s Form 8-K, filed on January 7, 2010 and dated January 5, 2010 and incorporated herein by reference).

 

 

 

10.8

 

Form of Restricted Stock Agreement for John P. Case (filed as exhibit 10.1 to the Company’s Form 10-Q, for the quarter ended March 31, 2010 and incorporated herein by reference).

 

 

 

10.9

 

Realty Income Corporation 2012 Incentive Award Plan (filed as Appendix B to the Company’s Proxy Statement on Schedule 14A filed on March 30, 2012 and incorporated herein by reference).

 

 

 

10.10

 

Amended and Restated Credit Agreement dated May 10, 2012 (filed as exhibit 10.1 to the Company’s Form 8-K, filed on May 11, 2012 and incorporated herein by reference).

 

 

 

10.11

 

Form of Restricted Stock Agreement for Employees under the Realty Income Corporation 2012 Incentive Award Plan (filed as exhibit 10.1 to the Company’s Form 8-K, filed on January 8, 2013 and incorporated herein by reference).

 

 

 

10.12

 

Form of Restricted Stock Agreement for Non-Employee Directors under the Realty Income Corporation 2012 Incentive Award Plan (filed as exhibit 10.2 to the Company’s Form 8-K, filed on January 8, 2013 and incorporated herein by reference).

 

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10.13

 

Term Loan Agreement, dated as of January 22, 2013, by and among Tau Operating Partnership, L.P. and Lenders (as defined therein) (filed as exhibit 10.1 to the Company’s Form 8-K, filed on January 23, 2013 and incorporated herein by reference).

 

 

 

10.14

 

The First Amendment to Amended and Restated Credit Agreement among the Company, as Borrower, each of the Lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent (filed as exhibit 10.1 to the Company’s Form 8-K, filed on June 3, 2013 and incorporated herein by reference).

 

 

 

10.15

 

Form of Amendment to Employment Agreement (filed as exhibit 10.1 to the Company’s Form 8-K, filed on June 19, 2013 and incorporated herein by reference).

 

 

 

10.16

 

Form of Addendum to Restricted Stock Agreement (filed as exhibit 10.2 to the Company’s Form 8-K, filed on June 19, 2013 and incorporated herein by reference).

 

 

 

10.17

 

The Second Amendment to Amended and Restated Credit Agreement among the Company, as Borrower, each of the Lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent (filed as exhibit 10.1 to the Company’s Form 8-K, filed on August 28, 2013 and incorporated herein by reference).

 

 

 

10.18

 

Form of Time-Based Restricted Stock Agreement for John P. Case dated September 3, 2013 (filed as exhibit 10.7 to the Company’s Form 10-Q, for the quarter ended September 30, 2013 and incorporated herein by reference).

 

 

 

10.19

 

Form of Performance-Based Restricted Stock Agreement for John P. Case dated September 26, 2013 (filed as exhibit 10.8 to the Company’s Form 10-Q, for the quarter ended September 30, 2013 and incorporated herein by reference).

 

 

 

10.20

 

The Third Amendment to Amended and Restated Credit Agreement among the Company, as Borrower, each of the Lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent (filed as exhibit 10.1 to the Company’s Form 8-K, filed on October 29, 2013 and incorporated herein by reference).

 

 

 

10.21

 

Form of Performance Share Award Agreement (filed as exhibit 99.1 to the Company’s Form 8-K, filed on April 11, 2014 and incorporated herein by reference).

 

 

 

10.22

 

Severance Agreement for Gary M. Malino (filed as exhibit 10.2 to the Company’s Form 10-Q, filed on October 30, 2014 and incorporated herein by reference).

 

 

 

10.23

 

Amended and Restated Form Indemnification Agreement, between the Company and each executive officer and each director of the Board of Directors of the Company (filed as exhibit 10.1 to the Company’s Form 8-K, filed on October 30, 2014 and incorporated herein by reference).

 

 

 

10.24

 

Form of Performance Share Award Agreement (filed as exhibit 10.1 to the Company’s Form 10-Q, filed on April 30, 2015 and incorporated herein by reference).

 

 

 

10.25

 

Dividend Reinvestment and Stock Purchase Plan (filed pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended, on February 23, 2015, as a prospectus supplement to the Company’s prospectus dated February 22, 2013 (File No. 333-186788) and incorporated herein by reference).

 

 

 

10.26

 

Credit Agreement dated June 30, 2015 (filed as exhibit 10.1 to the Company’s Form 8-K, filed on July 2, 2015 and incorporated herein by reference).

 

 

 

10.27

 

Dividend Reinvestment and Stock Purchase Plan (filed pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended, on July 30, 2015, as a prospectus supplement to the Company’s prospectus dated February 22, 2013 (File No. 333-186788) and incorporated herein by reference).

 

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Table of Contents

 

10.28

 

Form of Restricted Stock Agreement (filed as exhibit 10.30 to the Company’s Form 10-K for the year ended December 31, 2015 and incorporated herein by reference).

 

 

 

10.29

 

Form of Restricted Stock Unit Award Agreement (filed as exhibit 10.31 to the Company’s Form 10-K for the year ended December 31, 2015 and incorporated herein by reference).

 

 

 

10.30

 

Form of Second Amendment to Employment Agreement (filed as exhibit 10.32 to the Company’s Form 10-K for the year ended December 31, 2015 and incorporated herein by reference).

 

 

 

10.31

 

First Amendment to Realty Income Corporation 2012 Incentive Award Plan. (filed as exhibit 10.33 to the Company’s Form 10-K, filed on February 23, 2017 and incorporated herein by reference).

 

 

 

10.32

 

Second Amendment to Realty Income Corporation 2012 Incentive Award Plan (filed as exhibit 10.1 to the Company’s Form 8-K, filed on February 17, 2017 and incorporated herein by reference).

 

 

 

10.33

 

Amended and Restated Employment Agreement dated February 14, 2017 between the Company and John P. Case (filed as exhibit 10.2 to the Company’s Form 10-Q for the period ended March 31, 2017 and incorporated herein by reference).

 

 

 

10.34

 

Form of Performance Share Award Agreement (filed as exhibit 10.3 to the Company’s Form 10-Q for the quarter ended March 31, 2017 and incorporated herein by reference).

 

 

 

Statement of Ratios

 

 

 

*12.1

 

Statements re computation of ratios.

 

 

 

Subsidiaries of the Registrant

 

 

 

*21.1

 

Subsidiaries of the Company as of February 22, 2018.

 

 

 

Consents of Experts and Counsel

 

 

 

*23.1

 

Consent of Independent Registered Public Accounting Firm.

 

 

 

Certifications

 

 

 

 

 

*31.1

 

Rule 13a-14(a) Certifications as filed by the Chief Executive Officer pursuant to SEC release No. 33-8212 and 34-47551.

 

 

 

*31.2

 

Rule 13a-14(a) Certifications as filed by the Chief Financial Officer pursuant to SEC release No. 33-8212 and 34-47551.

 

 

 

*32

 

Section 1350 Certifications as furnished by the Chief Executive Officer and the Chief Financial Officer pursuant to SEC release No. 33-8212 and 34-47551.

 

 

 

Interactive Data Files

*101

 

The following materials from Realty Income Corporation’s Annual Report on Form 10-K for the year ended December 31, 2017, formatted in Extensible Business Reporting Language: (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Income, (iii) Consolidated Statements of Stockholders’ Equity, (iv) Consolidated Statements of Cash Flows, (v) Notes to Consolidated Financial Statements, and (vi) Schedule III Real Estate and Accumulated Depreciation.

* Filed herewith.

 

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Table of Contents

 

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

 

REALTY INCOME CORPORATION

 

By:

/s/JOHN P. CASE

 

 

Date: February 22, 2018

 

John P. Case

 

 

 

Chief Executive Officer

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:

/s/MICHAEL D. MCKEE

 

Date: February 22, 2018

 

Michael D. McKee

 

 

 

Non-Executive Chairman of the Board of Directors

 

 

 

 

By:

/s/KATHLEEN R. ALLEN, Ph.D.

 

Date: February 22, 2018

 

Kathleen R. Allen, Ph.D.

 

 

 

Director

 

 

 

 

 

 

By:

/s/JOHN P. CASE

 

 

Date: February 22, 2018

 

John P. Case

 

 

 

Director, Chief Executive Officer

 

 

 

(Principal Executive Officer)

 

 

 

 

 

 

By:

/s/A. LARRY CHAPMAN

 

Date: February 22, 2018

 

A. Larry Chapman

 

 

 

Director

 

 

 

 

 

 

By:

/s/PRIYA CHERIAN HUSKINS

 

Date: February 22, 2018

 

Priya Cherian Huskins

 

 

 

Director

 

 

 

 

 

 

By:

/s/GREGORY T. MCLAUGHLIN

 

Date: February 22, 2018

 

Gregory T. McLaughlin

 

 

 

Director

 

 

 

 

 

 

By:

/s/RONALD L. MERRIMAN

 

Date: February 22, 2018

 

Ronald L. Merriman

 

 

 

Director

 

 

 

 

 

 

By:

/s/STEPHEN E. STERRETT

 

Date: February 22, 2018

 

Stephen E. Sterrett

 

 

 

Director

 

 

 

 

 

 

By:

/s/PAUL M. MEURER

 

Date: February 22, 2018

 

Paul M. Meurer

 

 

 

Executive Vice President, Chief Financial Officer and Treasurer

 

(Principal Financial Officer)

 

 

 

 

 

 

By:

/s/SEAN P. NUGENT

 

Date: February 22, 2018

 

Sean P. Nugent

 

 

 

Senior Vice President, Controller

 

 

 

(Principal Accounting Officer)

 

 

 

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Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Batesville

 

MS

 

3,653,061

 

2,160,849

 

17,219,291

 

None

 

None

 

2,160,849

 

17,219,291

 

19,380,140

 

3,702,148

 

 

 

8/9/2012

 

300

Ellisville

 

MS

 

 

 

4,140,000

 

20,930,630

 

203,037

 

None

 

4,140,000

 

21,133,667

 

25,273,667

 

2,741,966

 

 

 

6/27/2013

 

420

Columbus

 

OH

 

14,113,802

 

-     

 

19,637,318

 

None

 

None

 

-     

 

19,637,318

 

19,637,318

 

2,548,176

 

 

 

6/19/2013

 

420

DFW Airport

 

TX

 

 

 

    

 

37,503,886

 

13,600

 

None

 

    

 

37,517,486

 

37,517,486

 

9,818,174

 

 

 

6/20/2011

 

300

Lufkin

 

TX

 

 

 

589,925

 

15,492,255

 

None

 

None

 

589,925

 

15,492,255

 

16,082,180

 

2,194,736

 

 

 

1/22/2013

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Apparel stores

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mesa

 

AZ

 

 

 

619,035

 

867,013

 

6,484

 

None

 

619,035

 

873,497

 

1,492,532

 

661,073

 

 

 

2/11/1999

 

300

El Cajon

 

CA

 

 

 

6,930,000

 

12,518,083

 

89,660

 

None

 

6,930,000

 

12,607,743

 

19,537,743

 

1,785,910

 

 

 

6/19/2014

 

300

Elk Grove

 

CA

 

 

 

804,327

 

2,668,492

 

24,266

 

None

 

804,327

 

2,692,758

 

3,497,085

 

573,997

 

 

 

9/18/2012

 

300

Elk Grove

 

CA

 

 

 

3,250,000

 

16,776,852

 

None

 

None

 

3,250,000

 

16,776,852

 

20,026,852

 

2,376,721

 

 

 

6/2/2014

 

300

Folsom

 

CA

 

 

 

2,370,000

 

11,342,375

 

None

 

None

 

2,370,000

 

11,342,375

 

13,712,375

 

1,531,221

 

 

 

8/19/2014

 

300

Hanford

 

CA

 

 

 

562,812

 

3,468,215

 

None

 

None

 

562,812

 

3,468,215

 

4,031,027

 

734,106

 

 

 

9/18/2012

 

300

Lodi

 

CA

 

 

 

3,153,559

 

2,661,260

 

None

 

None

 

3,153,559

 

2,661,260

 

5,814,819

 

563,300

 

 

 

9/18/2012

 

300

Manteca

 

CA

 

 

 

1,565,672

 

4,440,141

 

None

 

None

 

1,565,672

 

4,440,141

 

6,005,813

 

925,830

 

 

 

9/18/2012

 

300

Moreno Valley

 

CA

 

 

 

1,654,486

 

3,305,084

 

197,969

 

None

 

1,654,486

 

3,503,053

 

5,157,539

 

786,188

 

 

 

9/18/2012

 

300

Redlands

 

CA

 

 

 

3,006,680

 

2,242,430

 

340,021

 

None

 

3,006,680

 

2,582,451

 

5,589,131

 

599,512

 

 

 

9/18/2012

 

300

Sacramento

 

CA

 

 

 

3,446,351

 

4,460,201

 

None

 

None

 

3,446,351

 

4,460,201

 

7,906,552

 

944,076

 

 

 

9/18/2012

 

300

South Lake Tahoe

 

CA

 

 

 

3,110,000

 

3,176,091

 

9,750

 

None

 

3,110,000

 

3,185,841

 

6,295,841

 

923,979

 

 

 

10/22/2010

 

300

Vacaville

 

CA

 

 

 

1,299,816

 

3,375,574

 

183,515

 

None

 

1,299,816

 

3,559,089

 

4,858,905

 

794,784

 

 

 

9/18/2012

 

300

Danbury

 

CT

 

 

 

1,096,861

 

6,217,688

 

491,514

 

None

 

1,096,861

 

6,709,202

 

7,806,063

 

5,218,008

 

 

 

9/30/1997

 

300

Manchester

 

CT

 

 

 

771,660

 

3,653,539

 

352,441

 

161

 

771,660

 

4,006,141

 

4,777,801

 

2,915,386

 

 

 

3/26/1998

 

300

Manchester

 

CT

 

 

 

1,250,464

 

5,917,037

 

7,082

 

None

 

1,250,464

 

5,924,119

 

7,174,583

 

4,687,372

 

 

 

3/26/1998

 

300

Brandon

 

FL

 

 

 

2,570,000

 

676,996

 

267,314

 

294

 

2,570,000

 

944,604

 

3,514,604

 

230,470

 

 

 

10/22/2010

 

300

Deerfield Beach

 

FL

 

 

 

3,160,000

 

4,832,848

 

93,798

 

None

 

3,160,000

 

4,926,646

 

8,086,646

 

1,416,331

 

 

 

10/22/2010

 

300

Melbourne

 

FL

 

 

 

994,000

 

4,076,554

 

1,053,045

 

173,005

 

994,000

 

5,302,604

 

6,296,604

 

2,671,524

 

 

 

10/17/2001

 

300

Cumming

 

GA

 

4,675,000

 

2,100,000

 

6,472,785

 

None

 

None

 

2,100,000

 

6,472,785

 

8,572,785

 

960,130

 

 

 

4/1/2014

 

300

Collinsville

 

IL

 

3,570,500

 

675,724

 

7,021,479

 

375

 

None

 

675,724

 

7,021,854

 

7,697,578

 

1,392,600

 

 

 

1/22/2013

 

300

Georgetown

 

KY

 

5,679,500

 

1,922,820

 

10,448,325

 

None

 

None

 

1,922,820

 

10,448,325

 

12,371,145

 

2,072,251

 

 

 

1/22/2013

 

300

Missoula

 

MT

 

 

 

163,100

 

362,249

 

28,843

 

16,199

 

163,100

 

407,291

 

570,391

 

392,161

 

 

 

10/30/1987

 

300

Staten Island

 

NY

 

 

 

4,202,093

 

3,385,021

 

231,501

 

None

 

4,202,093

 

3,616,522

 

7,818,615

 

2,765,097

 

 

 

3/26/1998

 

300

Bend

 

OR

 

 

 

4,060,000

 

13,198,790

 

None

 

None

 

4,060,000

 

13,198,790

 

17,258,790

 

2,089,808

 

 

 

1/31/2014

 

300

Clarksville

 

TN

 

 

 

3,992,886

 

-     

 

None

 

None

 

3,992,886

 

-     

 

3,992,886

 

-     

 

 

 

7/5/2013

 

N/A

Jackson

 

TN

 

 

 

381,076

 

857,261

 

70,940

 

19,237

 

381,076

 

947,438

 

1,328,514

 

732,133

 

 

 

9/26/1997

 

300

Dallas

 

TX

 

 

 

1,210,000

 

2,675,265

 

300,025

 

None

 

1,210,000

 

2,975,290

 

4,185,290

 

819,600

 

 

 

10/22/2010

 

300

The Colony

 

TX

 

 

 

2,580,000

 

2,214,133

 

285,298

 

158

 

2,580,000

 

2,499,589

 

5,079,589

 

691,281

 

 

 

10/22/2010

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automotive collision services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Colorado Springs

 

CO

 

 

 

1,085,560

 

2,137,425

 

None

 

None

 

1,085,560

 

2,137,425

 

3,222,985

 

505,778

 

 

 

1/5/2012

 

300

Denver

 

CO

 

 

 

480,348

 

2,127,792

 

None

 

None

 

480,348

 

2,127,792

 

2,608,140

 

477,301

 

6/8/2012

 

9/30/2011

 

300

Highlands Ranch

 

CO

 

 

 

583,289

 

2,139,057

 

None

 

None

 

583,289

 

2,139,057

 

2,722,346

 

1,172,206

 

7/10/2007

 

8/11/2003

 

300

Littleton

 

CO

 

 

 

601,388

 

2,169,898

 

None

 

None

 

601,388

 

2,169,898

 

2,771,286

 

1,042,339

 

2/2/2006

 

11/12/2004

 

300

Parker

 

CO

 

 

 

868,768

 

2,653,745

 

None

 

None

 

868,768

 

2,653,745

 

3,522,513

 

1,278,555

 

9/7/2012

 

7/3/2003

 

300

Thornton

 

CO

 

 

 

693,323

 

1,896,616

 

None

 

None

 

693,323

 

1,896,616

 

2,589,939

 

987,428

 

10/5/2004

 

10/15/2003

 

300

Fort Myers

 

FL

 

 

 

1,050,000

 

1,395,464

 

None

 

None

 

1,050,000

 

1,395,464

 

2,445,464

 

113,963

 

 

 

12/29/2015

 

300

Fort Myers

 

FL

 

 

 

530,000

 

955,371

 

None

 

None

 

530,000

 

955,371

 

1,485,371

 

78,022

 

 

 

12/29/2015

 

300

Naples

 

FL

 

 

 

1,590,000

 

918,896

 

None

 

None

 

1,590,000

 

918,896

 

2,508,896

 

75,043

 

 

 

12/29/2015

 

300

Cumming

 

GA

 

 

 

661,624

 

1,822,363

 

25,000

 

None

 

661,624

 

1,847,363

 

2,508,987

 

1,037,110

 

9/18/2003

 

12/31/2002

 

300

Douglasville

 

GA

 

 

 

679,868

 

1,935,515

 

None

 

None

 

679,868

 

1,935,515

 

2,615,383

 

1,107,176

 

8/11/2003

 

12/30/2002

 

300

Lilburn

 

GA

 

 

 

1,150,000

 

1,670,724

 

None

 

None

 

1,150,000

 

1,670,724

 

2,820,724

 

286,835

 

7/29/2013

 

2/20/2013

 

300

Macon

 

GA

 

 

 

1,400,000

 

1,317,435

 

None

 

None

 

1,400,000

 

1,317,435

 

2,717,435

 

294,203

 

5/11/2012

 

1/10/2012

 

300

Morrow

 

GA

 

 

 

725,948

 

1,846,315

 

None

 

None

 

725,948

 

1,846,315

 

2,572,263

 

1,061,566

 

7/7/2003

 

8/30/2002

 

300

Peachtree City

 

GA

 

 

 

1,190,380

 

689,284

 

23,610

 

None

 

1,190,380

 

712,894

 

1,903,274

 

413,330

 

12/16/2002

 

9/19/2002

 

300

Roswell

 

GA

 

 

 

1,825,000

 

1,934,495

 

None

 

None

 

1,825,000

 

1,934,495

 

3,759,495

 

463,028

 

12/22/2011

 

8/10/2011

 

300

Warner Robins

 

GA

 

 

 

1,250,000

 

1,012,258

 

None

 

None

 

1,250,000

 

1,012,258

 

2,262,258

 

239,244

 

1/11/2012

 

9/1/2011

 

300

Chicago

 

IL

 

 

 

1,300,000

 

1,600,000

 

None

 

None

 

1,300,000

 

1,600,000

 

2,900,000

 

93,333

 

 

 

7/20/2016

 

300

Crystal Lake

 

IL

 

 

 

250,000

 

1,143,500

 

None

 

None

 

250,000

 

1,143,500

 

1,393,500

 

81,951

 

 

 

3/31/2016

 

300

Grayslake

 

IL

 

 

 

360,000

 

1,374,505

 

None

 

None

 

360,000

 

1,374,505

 

1,734,505

 

16,036

 

 

 

9/19/2017

 

300

Maryville

 

IL

 

 

 

320,000

 

882,122

 

None

 

None

 

320,000

 

882,122

 

1,202,122

 

139,645

 

 

 

1/10/2014

 

300

Mundelein

 

IL

 

 

 

503,587

 

796,413

 

None

 

None

 

503,587

 

796,413

 

1,300,000

 

1,327

 

 

 

12/8/2017

 

300

Naperville

 

IL

 

 

 

1,090,000

 

1,596,107

 

None

 

None

 

1,090,000

 

1,596,107

 

2,686,107

 

258,037

 

 

 

12/23/2013

 

300

Oak Lawn

 

IL

 

 

 

180,000

 

547,128

 

None

 

None

 

180,000

 

547,128

 

727,128

 

90,260

 

 

 

11/13/2013

 

300

Oak Lawn

 

IL

 

 

 

370,000

 

1,116,769

 

None

 

None

 

370,000

 

1,116,769

 

1,486,769

 

180,529

 

 

 

12/23/2013

 

300

Orland Park

 

IL

 

 

 

120,000

 

1,015,358

 

None

 

None

 

120,000

 

1,015,358

 

1,135,358

 

164,150

 

 

 

12/23/2013

 

300

South Holland

 

IL

 

 

 

80,000

 

1,548,690

 

None

 

None

 

80,000

 

1,548,690

 

1,628,690

 

250,372

 

 

 

12/23/2013

 

300

Waukegan

 

IL

 

 

 

710,000

 

782,268

 

None

 

None

 

710,000

 

782,268

 

1,492,268

 

9,126

 

 

 

9/19/2017

 

300

Zion

 

IL

 

 

 

230,000

 

540,650

 

None

 

None

 

230,000

 

540,650

 

770,650

 

6,308

 

 

 

9/19/2017

 

300

Cedar Lake

 

IN

 

 

 

300,000

 

1,037,278

 

None

 

None

 

300,000

 

1,037,278

 

1,337,278

 

122,745

 

 

 

1/7/2015

 

300

Gary

 

IN

 

 

 

100,000

 

1,875,652

 

None

 

None

 

100,000

 

1,875,652

 

1,975,652

 

221,952

 

 

 

1/7/2015

 

300

Hammond

 

IN

 

 

 

230,000

 

1,217,329

 

None

 

None

 

230,000

 

1,217,329

 

1,447,329

 

144,051

 

 

 

1/7/2015

 

300

Highland

 

IN

 

 

 

390,000

 

910,537

 

None

 

None

 

390,000

 

910,537

 

1,300,537

 

107,747

 

 

 

1/7/2015

 

300

Florence

 

KY

 

 

 

350,000

 

1,350,444

 

None

 

None

 

350,000

 

1,350,444

 

1,700,444

 

74,774

 

 

 

5/26/2016

 

300

Ann Arbor

 

MI

 

 

 

680,000

 

1,433,382

 

None

 

None

 

680,000

 

1,433,382

 

2,113,382

 

174,395

 

 

 

12/18/2014

 

300

Clawson

 

MI

 

 

 

220,000

 

517,432

 

None

 

None

 

220,000

 

517,432

 

737,432

 

62,954

 

 

 

12/18/2014

 

300

Clinton Township

 

MI

 

 

 

480,000

 

3,578,405

 

None

 

None

 

480,000

 

3,578,405

 

4,058,405

 

399,589

 

 

 

3/31/2015

 

300

Livonia

 

MI

 

 

 

317,728

 

1,035,971

 

None

 

None

 

317,728

 

1,035,971

 

1,353,699

 

126,043

 

 

 

12/18/2014

 

300

Novi

 

MI

 

 

 

530,000

 

2,092,323

 

None

 

None

 

530,000

 

2,092,323

 

2,622,323

 

233,643

 

 

 

3/31/2015

 

300

Rochester Hills

 

MI

 

 

 

280,000

 

1,179,451

 

None

 

None

 

280,000

 

1,179,451

 

1,459,451

 

131,705

 

 

 

3/31/2015

 

300

Sterling Heights

 

MI

 

 

 

480,000

 

1,920,459

 

None

 

None

 

480,000

 

1,920,459

 

2,400,459

 

156,837

 

 

 

12/29/2015

 

300

Warren

 

MI

 

 

 

300,000

 

746,229

 

None

 

None

 

300,000

 

746,229

 

1,046,229

 

83,329

 

 

 

3/31/2015

 

300

Washington

 

MI

 

 

 

240,000

 

474,241

 

None

 

None

 

240,000

 

474,241

 

714,241

 

57,699

 

 

 

12/18/2014

 

300

Wayne

 

MI

 

 

 

190,000

 

1,009,116

 

None

 

None

 

190,000

 

1,009,116

 

1,199,116

 

122,776

 

 

 

12/18/2014

 

300

Woodhaven

 

MI

 

 

 

170,000

 

1,148,368

 

None

 

None

 

170,000

 

1,148,368

 

1,318,368

 

139,718

 

 

 

12/18/2014

 

300

Ham Lake

 

MN

 

 

 

192,610

 

1,930,958

 

None

 

None

 

192,610

 

1,930,958

 

2,123,568

 

1,007,529

 

7/1/2004

 

10/31/2003

 

300

Stillwater

 

MN

 

 

 

656,250

 

1,218,901

 

187,158

 

None

 

656,250

 

1,406,059

 

2,062,309

 

307,541

 

 

 

11/16/2012

 

300

Olive Branch

 

MS

 

 

 

350,000

 

1,965,718

 

None

 

None

 

350,000

 

1,965,718

 

2,315,718

 

511,220

 

6/29/2011

 

11/2/2010

 

300

Cary

 

NC

 

 

 

610,389

 

1,492,235

 

None

 

None

 

610,389

 

1,492,235

 

2,102,624

 

693,889

 

 

 

5/25/2006

 

300

Durham

 

NC

 

 

 

680,969

 

1,323,140

 

None

 

None

 

680,969

 

1,323,140

 

2,004,109

 

615,260

 

 

 

5/25/2006

 

300

Wilmington

 

NC

 

 

 

378,813

 

1,150,679

 

None

 

None

 

378,813

 

1,150,679

 

1,529,492

 

572,469

 

7/15/2005

 

12/21/2004

 

300

Las Vegas

 

NV

 

 

 

720,000

 

1,660,126

 

None

 

None

 

720,000

 

1,660,126

 

2,380,126

 

279,439

 

 

 

10/22/2013

 

300

Huber Heights

 

OH

 

 

 

160,000

 

799,843

 

None

 

None

 

160,000

 

799,843

 

959,843

 

49,324

 

 

 

6/30/2016

 

300

Moraine

 

OH

 

 

 

170,000

 

873,745

 

None

 

None

 

170,000

 

873,745

 

1,043,745

 

53,881

 

 

 

6/30/2016

 

300

Bartlett

 

TN

 

 

 

648,526

 

1,960,733

 

None

 

None

 

648,526

 

1,960,733

 

2,609,259

 

1,023,071

 

8/3/2004

 

10/27/2003

 

300

Nashville

 

TN

 

 

 

1,830,000

 

2,594,121

 

None

 

None

 

1,830,000

 

2,594,121

 

4,424,121

 

266,576

 

9/3/2014

 

9/3/2014

 

300

Riverton

 

UT

 

 

 

1,100,000

 

1,576,390

 

None

 

None

 

1,100,000

 

1,576,390

 

2,676,390

 

302,175

 

1/18/2013

 

7/26/2012

 

300

Salt Lake City

 

UT

 

 

 

2,900,000

 

1,598,391

 

None

 

None

 

2,900,000

 

1,598,391

 

4,498,391

 

371,187

 

2/17/2012

 

10/11/2011

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automotive parts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Birmingham

 

AL

 

 

 

355,823

 

660,814

 

None

 

None

 

355,823

 

660,814

 

1,016,637

 

133,264

 

 

 

12/7/2012

 

300

Brent

 

AL

 

 

 

258,877

 

1,050,279

 

None

 

None

 

258,877

 

1,050,279

 

1,309,156

 

1,750

 

 

 

12/28/2017

 

300

Flomaton

 

AL

 

 

 

90,000

 

808,163

 

None

 

None

 

90,000

 

808,163

 

898,163

 

149,510

 

 

 

5/1/2013

 

300

Harvest

 

AL

 

 

 

744,737

 

1,537,832

 

None

 

None

 

744,737

 

1,537,832

 

2,282,569

 

305,003

 

 

 

1/22/2013

 

300

Hoover

 

AL

 

 

 

722,751

 

1,714,900

 

None

 

None

 

722,751

 

1,714,900

 

2,437,651

 

2,858

 

 

 

12/28/2017

 

300

Millbrook

 

AL

 

 

 

108,000

 

518,741

 

174,419

 

None

 

108,000

 

693,160

 

801,160

 

475,100

 

12/10/1998

 

1/21/1999

 

300

Montgomery

 

AL

 

 

 

254,465

 

502,350

 

59,819

 

84

 

254,465

 

562,253

 

816,718

 

403,464

 

 

 

6/30/1998

 

300

Red Bay

 

AL

 

 

 

256,981

 

1,042,586

 

None

 

None

 

256,981

 

1,042,586

 

1,299,567

 

1,738

 

 

 

12/28/2017

 

300

Cabot

 

AR

 

 

 

267,787

 

595,578

 

None

 

None

 

267,787

 

595,578

 

863,365

 

92,315

 

 

 

2/25/2014

 

300

San Luis

 

AZ

 

 

 

287,508

 

694,650

 

None

 

None

 

287,508

 

694,650

 

982,158

 

119,248

 

 

 

9/26/2013

 

300

Tucson

 

AZ

 

 

 

194,250

 

431,434

 

None

 

None

 

194,250

 

431,434

 

625,684

 

431,434

 

 

 

10/30/1987

 

300

Grass Valley

 

CA

 

 

 

325,000

 

384,955

 

None

 

None

 

325,000

 

384,955

 

709,955

 

384,955

 

 

 

5/20/1988

 

300

Sacramento

 

CA

 

 

 

210,000

 

466,419

 

None

 

None

 

210,000

 

466,419

 

676,419

 

466,419

 

 

 

11/25/1987

 

300

Colorado Springs

 

CO

 

 

 

520,000

 

922,073

 

None

 

None

 

520,000

 

922,073

 

1,442,073

 

50,714

 

 

 

8/30/2016

 

300

Denver

 

CO

 

 

 

141,400

 

314,056

 

None

 

82

 

141,400

 

314,138

 

455,538

 

314,138

 

 

 

11/18/1987

 

300

 



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denver

 

CO

 

 

 

315,000

 

699,623

 

None

 

161

 

315,000

 

699,784

 

1,014,784

 

699,785

 

 

 

5/16/1988

 

300

Littleton

 

CO

 

 

 

252,925

 

561,758

 

None

 

53

 

252,925

 

561,811

 

814,736

 

561,811

 

 

 

2/12/1988

 

300

Smyrna

 

DE

 

 

 

232,273

 

472,855

 

15,774

 

None

 

232,273

 

488,629

 

720,902

 

374,821

 

 

 

8/7/1998

 

300

Apopka

 

FL

 

 

 

820,000

 

1,115,761

 

None

 

None

 

820,000

 

1,115,761

 

1,935,761

 

202,697

 

 

 

6/21/2013

 

300

Deerfield Beach

 

FL

 

 

 

475,000

 

871,738

 

2,420

 

None

 

475,000

 

874,158

 

1,349,158

 

655,867

 

 

 

1/29/1999

 

300

Jacksonville

 

FL

 

 

 

330,000

 

1,196,260

 

None

 

None

 

330,000

 

1,196,260

 

1,526,260

 

73,769

 

 

 

6/9/2016

 

300

Kissimmee

 

FL

 

 

 

1,000,000

 

1,169,792

 

None

 

None

 

1,000,000

 

1,169,792

 

2,169,792

 

212,512

 

 

 

6/21/2013

 

300

Kissimmee

 

FL

 

 

 

580,290

 

1,290,608

 

None

 

None

 

580,290

 

1,290,608

 

1,870,898

 

174,232

 

 

 

8/14/2014

 

300

Merritt Island

 

FL

 

 

 

309,652

 

482,459

 

44,387

 

21,831

 

309,652

 

548,677

 

858,329

 

444,931

 

 

 

11/26/1996

 

300

Atlanta

 

GA

 

 

 

652,551

 

763,360

 

27,163

 

45,249

 

652,551

 

835,772

 

1,488,323

 

611,787

 

 

 

12/18/1998

 

300

Bremen

 

GA

 

 

 

390,000

 

807,036

 

None

 

None

 

390,000

 

807,036

 

1,197,036

 

12,106

 

 

 

8/30/2017

 

300

Bremen

 

GA

 

 

 

288,253

 

1,169,460

 

None

 

None

 

288,253

 

1,169,460

 

1,457,713

 

1,949

 

 

 

12/28/2017

 

300

Byron

 

GA

 

 

 

359,612

 

868,859

 

None

 

None

 

359,612

 

868,859

 

1,228,471

 

152,050

 

 

 

8/5/2013

 

300

Council Bluffs

 

IA

 

 

 

194,355

 

431,668

 

None

 

None

 

194,355

 

431,668

 

626,023

 

431,668

 

 

 

5/19/1988

 

300

Des Moines

 

IA

 

 

 

441,273

 

981,424

 

None

 

None

 

441,273

 

981,424

 

1,422,697

 

158,664

 

 

 

12/6/2013

 

300

Boise

 

ID

 

 

 

158,400

 

351,812

 

None

 

5,428

 

158,400

 

357,240

 

515,640

 

357,240

 

 

 

5/6/1988

 

300

Moscow

 

ID

 

 

 

117,250

 

260,417

 

None

 

None

 

117,250

 

260,417

 

377,667

 

260,417

 

 

 

9/14/1987

 

300

Chicago

 

IL

 

 

 

760,000

 

1,483,800

 

4,850

 

None

 

760,000

 

1,488,650

 

2,248,650

 

183,409

 

 

 

12/18/2014

 

300

Chicago

 

IL

 

 

 

270,000

 

1,639,501

 

56,000

 

None

 

270,000

 

1,695,501

 

1,965,501

 

207,056

 

 

 

12/18/2014

 

300

Chicago

 

IL

 

 

 

490,000

 

1,533,006

 

3,800

 

None

 

490,000

 

1,536,806

 

2,026,806

 

188,699

 

 

 

12/18/2014

 

300

Joliet

 

IL

 

1,267,354

 

723,567

 

2,571,856

 

None

 

None

 

723,567

 

2,571,856

 

3,295,423

 

510,085

 

 

 

1/22/2013

 

300

Avon

 

IN

 

 

 

580,000

 

1,232,866

 

None

 

None

 

580,000

 

1,232,866

 

1,812,866

 

26,712

 

 

 

6/30/2017

 

300

Brazil

 

IN

 

 

 

183,952

 

453,831

 

26,716

 

None

 

183,952

 

480,547

 

664,499

 

355,907

 

 

 

3/31/1999

 

300

Chesterton

 

IN

 

 

 

293,382

 

708,842

 

None

 

None

 

293,382

 

708,842

 

1,002,224

 

121,685

 

 

 

9/27/2013

 

300

Griffith

 

IN

 

 

 

343,778

 

830,602

 

None

 

None

 

343,778

 

830,602

 

1,174,380

 

142,587

 

 

 

9/27/2013

 

300

Indianapolis

 

IN

 

 

 

243,422

 

541,389

 

24,391

 

None

 

243,422

 

565,780

 

809,202

 

87,736

 

 

 

6/6/2014

 

300

Lafayette

 

IN

 

 

 

540,000

 

730,133

 

None

 

None

 

540,000

 

730,133

 

1,270,133

 

30,422

 

 

 

12/16/2016

 

300

Muncie

 

IN

 

 

 

148,901

 

645,660

 

238,611

 

28,327

 

148,901

 

912,598

 

1,061,499

 

724,413

 

 

 

11/26/1996

 

300

Plainfield

 

IN

 

 

 

453,645

 

908,485

 

42,619

 

47,025

 

453,645

 

998,129

 

1,451,774

 

765,336

 

 

 

1/30/1998

 

300

Princeton

 

IN

 

 

 

134,209

 

560,113

 

11,238

 

None

 

134,209

 

571,351

 

705,560

 

423,698

 

 

 

3/31/1999

 

300

Vincennes

 

IN

 

 

 

185,312

 

489,779

 

30,324

 

None

 

185,312

 

520,103

 

705,415

 

379,825

 

 

 

3/31/1999

 

300

Kansas City

 

KS

 

 

 

222,000

 

455,881

 

18,738

 

None

 

222,000

 

474,619

 

696,619

 

473,825

 

 

 

5/16/1988

 

300

Harrodsburg

 

KY

 

 

 

262,048

 

1,029,125

 

None

 

None

 

262,048

 

1,029,125

 

1,291,173

 

162,945

 

 

 

1/3/2014

 

300

Hazard

 

KY

 

 

 

344,593

 

1,398,034

 

None

 

None

 

344,593

 

1,398,034

 

1,742,627

 

2,330

 

 

 

12/28/2017

 

300

Lawrenceburg

 

KY

 

 

 

272,228

 

1,069,102

 

None

 

None

 

272,228

 

1,069,102

 

1,341,330

 

165,711

 

 

 

2/14/2014

 

300

Lexington

 

KY

 

 

 

475,041

 

1,056,527

 

None

 

None

 

475,041

 

1,056,527

 

1,531,568

 

107,414

 

4/11/2014

 

6/30/2015

 

300

Paris

 

KY

 

 

 

250,000

 

1,158,644

 

None

 

None

 

250,000

 

1,158,644

 

1,408,644

 

59,863

 

 

 

9/30/2016

 

300

Scottsville

 

KY

 

 

 

503,473

 

1,039,640

 

None

 

None

 

503,473

 

1,039,640

 

1,543,113

 

206,195

 

 

 

1/22/2013

 

300

Stanford

 

KY

 

 

 

293,686

 

1,153,374

 

None

 

None

 

293,686

 

1,153,374

 

1,447,060

 

167,239

 

 

 

5/7/2014

 

300

Grayson

 

KY

 

 

 

294,581

 

1,195,131

 

None

 

None

 

294,581

 

1,195,131

 

1,489,712

 

1,992

 

 

 

12/28/2017

 

300

Jonesboro

 

LA

 

 

 

250,411

 

1,015,933

 

None

 

None

 

250,411

 

1,015,933

 

1,266,344

 

1,693

 

 

 

12/28/2017

 

300

Kaplan

 

LA

 

 

 

232,224

 

911,999

 

None

 

None

 

232,224

 

911,999

 

1,144,223

 

141,360

 

 

 

2/14/2014

 

300

Lafayette

 

LA

 

 

 

740,444

 

1,528,968

 

None

 

None

 

740,444

 

1,528,968

 

2,269,412

 

303,245

 

 

 

1/22/2013

 

300

Lafayette

 

LA

 

 

 

462,043

 

1,027,618

 

None

 

None

 

462,043

 

1,027,618

 

1,489,661

 

155,855

 

 

 

3/31/2014

 

300

Many

 

LA

 

 

 

321,680

 

1,305,074

 

None

 

None

 

321,680

 

1,305,074

 

1,626,754

 

2,175

 

 

 

12/28/2017

 

300

Slidell

 

LA

 

 

 

629,335

 

1,299,536

 

None

 

None

 

629,335

 

1,299,536

 

1,928,871

 

257,741

 

 

 

1/22/2013

 

300

Sulphur

 

LA

 

 

 

290,047

 

700,785

 

12,825

 

None

 

290,047

 

713,610

 

1,003,657

 

124,525

 

 

 

8/1/2013

 

300

West Monroe

 

LA

 

 

 

462,715

 

1,394,603

 

None

 

None

 

462,715

 

1,394,603

 

1,857,318

 

276,596

 

 

 

1/22/2013

 

300

Winnfield

 

LA

 

 

 

306,696

 

1,244,284

 

None

 

None

 

306,696

 

1,244,284

 

1,550,980

 

2,074

 

 

 

12/28/2017

 

300

Jena

 

LA

 

 

 

329,477

 

1,336,707

 

None

 

None

 

329,477

 

1,336,707

 

1,666,184

 

2,228

 

 

 

12/28/2017

 

300

Rayville

 

LA

 

 

 

316,841

 

1,285,444

 

None

 

None

 

316,841

 

1,285,444

 

1,602,285

 

2,142

 

 

 

12/28/2017

 

300

Alma

 

MI

 

 

 

155,000

 

600,282

 

15,823

 

None

 

155,000

 

616,105

 

771,105

 

456,048

 

4/29/1999

 

2/10/1999

 

300

Alma

 

MI

 

 

 

187,704

 

737,155

 

None

 

None

 

187,704

 

737,155

 

924,859

 

70,030

 

 

 

8/21/2015

 

300

Detroit

 

MI

 

 

 

496,691

 

1,104,676

 

None

 

None

 

496,691

 

1,104,676

 

1,601,367

 

171,225

 

 

 

2/6/2014

 

300

Flushing

 

MI

 

 

 

367,724

 

817,846

 

None

 

None

 

367,724

 

817,846

 

1,185,570

 

118,588

 

 

 

5/14/2014

 

300

Lansing

 

MI

 

 

 

265,000

 

574,931

 

132,237

 

94

 

265,000

 

707,262

 

972,262

 

536,292

 

4/30/1999

 

12/3/1998

 

300

Rockford

 

MI

 

 

 

870,632

 

1,726,400

 

None

 

None

 

870,632

 

1,726,400

 

2,597,032

 

342,403

 

 

 

1/22/2013

 

300

Roseville

 

MI

 

 

 

558,997

 

1,810,289

 

375

 

None

 

558,997

 

1,810,664

 

2,369,661

 

359,046

 

 

 

1/22/2013

 

300

Saginaw

 

MI

 

 

 

948,826

 

1,959,264

 

None

 

None

 

948,826

 

1,959,264

 

2,908,090

 

388,587

 

 

 

1/22/2013

 

300

Saginaw

 

MI

 

 

 

859,956

 

1,775,753

 

375

 

None

 

859,956

 

1,776,128

 

2,636,084

 

352,198

 

 

 

1/22/2013

 

300

St. Johns

 

MI

 

 

 

201,681

 

792,050

 

41,226

 

None

 

201,681

 

833,276

 

1,034,957

 

77,392

 

 

 

8/21/2015

 

300

Sturgis

 

MI

 

 

 

109,558

 

550,274

 

10,272

 

94

 

109,558

 

560,640

 

670,198

 

425,659

 

 

 

12/30/1998

 

300

Waterford

 

MI

 

 

 

995,991

 

2,056,657

 

53,844

 

None

 

995,991

 

2,110,501

 

3,106,492

 

414,220

 

 

 

1/22/2013

 

300

St. Peters

 

MO

 

 

 

469,776

 

1,044,816

 

None

 

None

 

469,776

 

1,044,816

 

1,514,592

 

151,498

 

 

 

5/6/2014

 

300

Crystal Springs

 

MS

 

 

 

514,234

 

1,061,859

 

None

 

None

 

514,234

 

1,061,859

 

1,576,093

 

210,602

 

 

 

1/22/2013

 

300

Horn Lake

 

MS

 

 

 

142,702

 

514,779

 

62,817

 

None

 

142,702

 

577,596

 

720,298

 

408,077

 

 

 

6/30/1998

 

300

Richland

 

MS

 

 

 

243,565

 

558,645

 

10,302

 

None

 

243,565

 

568,947

 

812,512

 

410,253

 

 

 

12/21/1999

 

300

Vicksburg

 

MS

 

 

 

631,900

 

1,304,832

 

None

 

None

 

631,900

 

1,304,832

 

1,936,732

 

258,792

 

 

 

1/22/2013

 

300

Biscoe

 

NC

 

 

 

340,000

 

1,012,799

 

None

 

None

 

340,000

 

1,012,799

 

1,352,799

 

59,080

 

 

 

7/29/2016

 

300

Harrisburg

 

NC

 

 

 

680,000

 

813,119

 

None

 

None

 

680,000

 

813,119

 

1,493,119

 

147,717

 

 

 

6/21/2013

 

300

Statesville

 

NC

 

 

 

502,965

 

1,193,406

 

None

 

None

 

502,965

 

1,193,406

 

1,696,371

 

1,989

 

 

 

12/28/2017

 

300

Kearney

 

NE

 

 

 

272,128

 

645,689

 

None

 

None

 

272,128

 

645,689

 

917,817

 

1,076

 

 

 

12/28/2017

 

300

Omaha

 

NE

 

 

 

196,000

 

435,321

 

None

 

32

 

196,000

 

435,353

 

631,353

 

435,354

 

 

 

5/26/1988

 

300

Omaha

 

NE

 

 

 

199,100

 

412,042

 

None

 

32

 

199,100

 

412,074

 

611,174

 

412,074

 

 

 

5/27/1988

 

300

Artesia

 

NM

 

 

 

400,000

 

807,227

 

None

 

None

 

400,000

 

807,227

 

1,207,227

 

146,646

 

 

 

6/21/2013

 

300

Broomfield

 

NM

 

 

 

329,416

 

1,336,458

 

None

 

None

 

329,416

 

1,336,458

 

1,665,874

 

2,227

 

 

 

12/28/2017

 

300

Las Cruces

 

NM

 

 

 

370,000

 

1,010,676

 

None

 

None

 

370,000

 

1,010,676

 

1,380,676

 

183,606

 

 

 

6/21/2013

 

300

Rio Rancho

 

NM

 

 

 

211,577

 

469,923

 

None

 

None

 

211,577

 

469,923

 

681,500

 

469,923

 

 

 

2/26/1988

 

300

Santa Fe

 

NM

 

 

 

550,775

 

1,224,964

 

None

 

None

 

550,775

 

1,224,964

 

1,775,739

 

206,202

 

 

 

10/11/2013

 

300

Fernley

 

NV

 

 

 

300,000

 

1,027,155

 

None

 

None

 

300,000

 

1,027,155

 

1,327,155

 

186,600

 

 

 

6/21/2013

 

300

Las Vegas

 

NV

 

 

 

161,000

 

357,585

 

260,000

 

None

 

161,000

 

617,585

 

778,585

 

591,585

 

 

 

10/29/1987

 

300

Dunkirk

 

NY

 

 

 

631,375

 

1,303,749

 

None

 

None

 

631,375

 

1,303,749

 

1,935,124

 

258,577

 

 

 

1/22/2013

 

300

Akron

 

OH

 

 

 

264,619

 

588,531

 

None

 

None

 

264,619

 

588,531

 

853,150

 

59,834

 

 

 

6/9/2015

 

300

Canton

 

OH

 

 

 

396,560

 

597,553

 

None

 

25,452

 

396,560

 

623,005

 

1,019,565

 

474,405

 

 

 

8/14/1998

 

300

Centerville

 

OH

 

 

 

601,408

 

758,192

 

9,017

 

38,193

 

601,408

 

805,402

 

1,406,810

 

614,747

 

 

 

6/30/1998

 

300

Delaware

 

OH

 

 

 

240,000

 

705,447

 

None

 

None

 

240,000

 

705,447

 

945,447

 

67,017

 

 

 

8/14/2015

 

300

Hamilton

 

OH

 

 

 

183,000

 

515,727

 

6,508

 

None

 

183,000

 

522,235

 

705,235

 

390,279

 

4/7/1999

 

12/3/1998

 

300

Middlefield

 

OH

 

 

 

258,980

 

1,017,075

 

None

 

None

 

258,980

 

1,017,075

 

1,276,055

 

144,086

 

 

 

6/30/2014

 

300

New Lexington

 

OH

 

 

 

290,000

 

955,997

 

None

 

None

 

290,000

 

955,997

 

1,245,997

 

52,580

 

 

 

8/23/2016

 

300

Oberlin

 

OH

 

 

 

212,325

 

1,026,562

 

None

 

None

 

212,325

 

1,026,562

 

1,238,887

 

169,383

 

 

 

11/7/2013

 

300

Toledo

 

OH

 

 

 

130,000

 

1,562,052

 

None

 

None

 

130,000

 

1,562,052

 

1,692,052

 

294,186

 

 

 

4/12/2013

 

300

Toledo

 

OH

 

 

 

140,000

 

1,059,979

 

None

 

None

 

140,000

 

1,059,979

 

1,199,979

 

199,629

 

 

 

4/12/2013

 

300

Waverly

 

OH

 

 

 

176,895

 

694,710

 

None

 

None

 

176,895

 

694,710

 

871,605

 

65,997

 

 

 

8/19/2015

 

300

Mr Orab

 

OH

 

 

 

262,052

 

1,063,160

 

None

 

None

 

262,052

 

1,063,160

 

1,325,212

 

1,772

 

 

 

12/28/2017

 

300

Del City

 

OK

 

 

 

634,664

 

1,178,662

 

None

 

None

 

634,664

 

1,178,662

 

1,813,326

 

237,697

 

 

 

12/7/2012

 

300

Oklahoma City

 

OK

 

 

 

602,052

 

1,118,096

 

None

 

None

 

602,052

 

1,118,096

 

1,720,148

 

214,302

 

 

 

3/1/2013

 

300

Albany

 

OR

 

 

 

152,250

 

338,153

 

None

 

58

 

152,250

 

338,211

 

490,461

 

338,205

 

 

 

8/24/1987

 

300

Beaverton

 

OR

 

 

 

210,000

 

466,419

 

None

 

58

 

210,000

 

466,477

 

676,477

 

466,470

 

 

 

8/26/1987

 

300

Portland

 

OR

 

 

 

190,750

 

423,664

 

None

 

58

 

190,750

 

423,722

 

614,472

 

423,715

 

 

 

8/12/1987

 

300

Portland

 

OR

 

 

 

147,000

 

326,493

 

None

 

58

 

147,000

 

326,551

 

473,551

 

326,544

 

 

 

8/26/1987

 

300

Salem

 

OR

 

 

 

136,500

 

303,170

 

None

 

58

 

136,500

 

303,228

 

439,728

 

303,221

 

 

 

8/20/1987

 

300

Butler

 

PA

 

 

 

339,929

 

633,078

 

47,758

 

None

 

339,929

 

680,836

 

1,020,765

 

520,931

 

 

 

8/7/1998

 

300

Carnegie

 

PA

 

 

 

260,000

 

1,208,582

 

62,517

 

None

 

260,000

 

1,271,099

 

1,531,099

 

67,384

 

 

 

8/23/2016

 

300

Dover

 

PA

 

 

 

265,112

 

593,341

 

7,926

 

None

 

265,112

 

601,267

 

866,379

 

464,520

 

 

 

6/30/1998

 

300

Enola

 

PA

 

 

 

220,228

 

546,026

 

11,416

 

172

 

220,228

 

557,614

 

777,842

 

425,758

 

 

 

11/10/1998

 

300

Hanover

 

PA

 

 

 

132,500

 

719,511

 

9,982

 

None

 

132,500

 

729,493

 

861,993

 

533,783

 

7/26/1999

 

5/13/1999

 

300

Harrisburg

 

PA

 

 

 

327,781

 

608,291

 

10,681

 

172

 

327,781

 

619,144

 

946,925

 

481,059

 

 

 

6/30/1998

 

300

Harrisburg

 

PA

 

 

 

283,417

 

352,473

 

10,519

 

172

 

283,417

 

363,164

 

646,581

 

274,973

 

 

 

9/30/1998

 

300

Lancaster

 

PA

 

 

 

199,899

 

774,838

 

139,211

 

None

 

199,899

 

914,049

 

1,113,948

 

626,588

 

 

 

8/14/1998

 

300

Lebanon

 

PA

 

 

 

360,751

 

802,338

 

14,764

 

None

 

360,751

 

817,102

 

1,177,853

 

106,054

 

 

 

11/21/2014

 

300

New Castle

 

PA

 

 

 

180,009

 

525,774

 

91,802

 

None

 

180,009

 

617,576

 

797,585

 

469,775

 

 

 

6/30/1998

 

300

Reading

 

PA

 

 

 

379,000

 

658,722

 

43,750

 

None

 

379,000

 

702,472

 

1,081,472

 

508,600

 

6/9/1999

 

12/4/1998

 

300

Guayama

 

PR

 

956,494

 

874,937

 

1,806,689

 

None

 

None

 

874,937

 

1,806,689

 

2,681,626

 

358,327

 

 

 

1/22/2013

 

300

Humacao

 

PR

 

1,458,653

 

1,161,891

 

2,399,229

 

None

 

None

 

1,161,891

 

2,399,229

 

3,561,120

 

475,847

 

 

 

1/22/2013

 

300

 



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ponce

 

PR

 

1,745,601

 

1,321,292

 

2,728,382

 

None

 

None

 

1,321,292

 

2,728,382

 

4,049,674

 

541,129

 

 

 

1/22/2013

 

300

San Juan

 

PR

 

1,458,653

 

1,158,525

 

2,392,278

 

None

 

None

 

1,158,525

 

2,392,278

 

3,550,803

 

474,469

 

 

 

1/22/2013

 

300

Chester

 

SC

 

 

 

132,006

 

518,420

 

52,106

 

None

 

132,006

 

570,526

 

702,532

 

74,296

 

 

 

6/30/2014

 

300

Columbia

 

SC

 

 

 

474,027

 

1,427,348

 

None

 

None

 

474,027

 

1,427,348

 

1,901,375

 

283,091

 

 

 

1/22/2013

 

300

Gaston

 

SC

 

 

 

250,000

 

956,334

 

None

 

None

 

250,000

 

956,334

 

1,206,334

 

58,974

 

 

 

6/9/2016

 

300

Manning

 

SC

 

 

 

260,000

 

999,132

 

None

 

None

 

260,000

 

999,132

 

1,259,132

 

58,283

 

 

 

7/29/2016

 

300

Winnsboro

 

SC

 

 

 

90,000

 

921,541

 

None

 

None

 

90,000

 

921,541

 

1,011,541

 

56,828

 

 

 

6/9/2016

 

300

York

 

SC

 

 

 

198,409

 

779,197

 

None

 

None

 

198,409

 

779,197

 

977,606

 

110,386

 

 

 

6/30/2014

 

300

Cheraw

 

SC

 

 

 

282,252

 

1,145,113

 

None

 

None

 

282,252

 

1,145,113

 

1,427,365

 

1,909

 

 

 

12/28/2017

 

300

Arlington

 

TN

 

 

 

381,083

 

707,726

 

None

 

None

 

381,083

 

707,726

 

1,088,809

 

142,725

 

 

 

12/7/2012

 

300

Columbia

 

TN

 

 

 

273,120

 

431,716

 

None

 

None

 

273,120

 

431,716

 

704,836

 

320,188

 

 

 

6/30/1999

 

300

Decatur

 

TN

 

 

 

180,000

 

880,938

 

None

 

None

 

180,000

 

880,938

 

1,060,938

 

124,800

 

 

 

6/30/2014

 

300

Erwin

 

TN

 

 

 

303,799

 

1,232,530

 

None

 

None

 

303,799

 

1,232,530

 

1,536,329

 

2,054

 

 

 

12/28/2017

 

300

McKenzie

 

TN

 

 

 

244,093

 

990,301

 

None

 

None

 

244,093

 

990,301

 

1,234,394

 

1,651

 

 

 

12/28/2017

 

300

Alpine

 

TX

 

 

 

309,222

 

1,254,532

 

None

 

None

 

309,222

 

1,254,532

 

1,563,754

 

2,091

 

 

 

12/28/2017

 

300

Brownsville

 

TX

 

 

 

413,809

 

981,863

 

None

 

None

 

413,809

 

981,863

 

1,395,672

 

1,636

 

 

 

12/28/2017

 

300

Channelview

 

TX

 

 

 

483,804

 

1,168,921

 

None

 

None

 

483,804

 

1,168,921

 

1,652,725

 

204,561

 

 

 

8/14/2013

 

300

Cotulla

 

TX

 

 

 

265,163

 

1,075,780

 

None

 

None

 

265,163

 

1,075,780

 

1,340,943

 

1,793

 

 

 

12/28/2017

 

300

Dallas

 

TX

 

 

 

562,612

 

1,251,290

 

None

 

None

 

562,612

 

1,251,290

 

1,813,902

 

173,095

 

 

 

7/18/2014

 

300

Denton

 

TX

 

 

 

368,635

 

1,047,327

 

None

 

None

 

368,635

 

1,047,327

 

1,415,962

 

172,809

 

 

 

11/15/2013

 

300

Edinburg

 

TX

 

 

 

320,000

 

963,916

 

None

 

None

 

320,000

 

963,916

 

1,283,916

 

175,111

 

 

 

6/21/2013

 

300

Grand Prairie

 

TX

 

 

 

574,574

 

1,277,896

 

None

 

None

 

574,574

 

1,277,896

 

1,852,470

 

168,256

 

 

 

9/5/2014

 

300

Hallettsville

 

TX

 

 

 

237,572

 

932,999

 

18,920

 

None

 

237,572

 

951,919

 

1,189,491

 

158,581

 

 

 

10/11/2013

 

300

Houston

 

TX

 

 

 

505,082

 

1,198,430

 

None

 

None

 

505,082

 

1,198,430

 

1,703,512

 

1,997

 

 

 

12/28/2017

 

300

Katy

 

TX

 

 

 

558,684

 

1,242,555

 

None

 

None

 

558,684

 

1,242,555

 

1,801,239

 

176,029

 

 

 

6/30/2014

 

300

Laredo

 

TX

 

 

 

807,044

 

1,498,795

 

None

 

None

 

807,044

 

1,498,795

 

2,305,839

 

302,257

 

 

 

12/7/2012

 

300

Richmond

 

TX

 

 

 

441,254

 

1,253,642

 

None

 

None

 

441,254

 

1,253,642

 

1,694,896

 

211,030

 

 

 

10/24/2013

 

300

Rio Grande City

 

TX

 

 

 

457,127

 

1,084,644

 

None

 

None

 

457,127

 

1,084,644

 

1,541,771

 

1,808

 

 

 

12/28/2017

 

300

Roma

 

TX

 

 

 

200,000

 

1,004,538

 

None

 

None

 

200,000

 

1,004,538

 

1,204,538

 

182,491

 

 

 

6/21/2013

 

300

San Benito

 

TX

 

 

 

449,015

 

998,643

 

None

 

None

 

449,015

 

998,643

 

1,447,658

 

168,105

 

 

 

10/11/2013

 

300

Carrizo Springs

 

TX

 

 

 

348,508

 

1,413,917

 

None

 

None

 

348,508

 

1,413,917

 

1,762,425

 

2,357

 

 

 

12/28/2017

 

300

Castroville

 

TX

 

 

 

317,814

 

1,289,389

 

None

 

None

 

317,814

 

1,289,389

 

1,607,203

 

2,149

 

 

 

12/28/2017

 

300

Fabens

 

TX

 

 

 

335,475

 

1,361,042

 

None

 

None

 

335,475

 

1,361,042

 

1,696,517

 

2,268

 

 

 

12/28/2017

 

300

George West

 

TX

 

 

 

228,251

 

926,028

 

None

 

None

 

228,251

 

926,028

 

1,154,279

 

1,543

 

 

 

12/28/2017

 

300

Lytle

 

TX

 

 

 

334,684

 

1,357,831

 

None

 

None

 

334,684

 

1,357,831

 

1,692,515

 

2,263

 

 

 

12/28/2017

 

300

Schlenburg

 

TX

 

 

 

270,563

 

1,097,689

 

None

 

None

 

270,563

 

1,097,689

 

1,368,252

 

1,829

 

 

 

12/28/2017

 

300

Slaton

 

TX

 

 

 

309,900

 

1,257,284

 

None

 

None

 

309,900

 

1,257,284

 

1,567,184

 

2,095

 

 

 

12/28/2017

 

300

Richmond

 

VA

 

 

 

366,287

 

814,648

 

None

 

None

 

366,287

 

814,648

 

1,180,935

 

82,823

 

 

 

6/25/2015

 

300

Bellevue

 

WA

 

 

 

185,500

 

411,997

 

None

 

107

 

185,500

 

412,104

 

597,604

 

412,103

 

 

 

8/6/1987

 

300

Bellingham

 

WA

 

 

 

168,000

 

373,133

 

None

 

107

 

168,000

 

373,240

 

541,240

 

373,239

 

 

 

8/20/1987

 

300

East Wenatchee

 

WA

 

 

 

148,400

 

329,602

 

None

 

107

 

148,400

 

329,709

 

478,109

 

329,709

 

 

 

8/25/1987

 

300

Kenmore

 

WA

 

 

 

199,500

 

443,098

 

None

 

107

 

199,500

 

443,205

 

642,705

 

443,204

 

 

 

8/20/1987

 

300

Kent

 

WA

 

 

 

199,500

 

443,091

 

None

 

107

 

199,500

 

443,198

 

642,698

 

443,198

 

 

 

8/6/1987

 

300

Moses Lake

 

WA

 

 

 

138,600

 

307,831

 

None

 

107

 

138,600

 

307,938

 

446,538

 

307,938

 

 

 

8/12/1987

 

300

Renton

 

WA

 

 

 

185,500

 

412,003

 

None

 

107

 

185,500

 

412,110

 

597,610

 

412,110

 

 

 

9/15/1987

 

300

Seattle

 

WA

 

 

 

162,400

 

360,697

 

None

 

107

 

162,400

 

360,804

 

523,204

 

360,804

 

 

 

8/20/1987

 

300

Silverdale

 

WA

 

 

 

183,808

 

419,777

 

None

 

107

 

183,808

 

419,884

 

603,692

 

419,883

 

 

 

9/16/1987

 

300

Tacoma

 

WA

 

 

 

191,800

 

425,996

 

None

 

107

 

191,800

 

426,103

 

617,903

 

426,102

 

 

 

8/18/1987

 

300

Tacoma

 

WA

 

 

 

196,000

 

435,324

 

None

 

107

 

196,000

 

435,431

 

631,431

 

435,431

 

 

 

10/15/1987

 

300

Vancouver

 

WA

 

 

 

180,250

 

400,343

 

None

 

58

 

180,250

 

400,401

 

580,651

 

400,394

 

 

 

8/20/1987

 

300

Vancouver

 

WA

 

 

 

168,000

 

373,135

 

None

 

58

 

168,000

 

373,193

 

541,193

 

373,187

 

 

 

5/23/1988

 

300

Viroqua

 

WI

 

 

 

130,000

 

751,418

 

None

 

None

 

130,000

 

751,418

 

881,418

 

139,012

 

 

 

5/1/2013

 

300

Wausau

 

WI

 

 

 

499,159

 

1,138,765

 

6,800

 

None

 

499,159

 

1,145,565

 

1,644,724

 

94,754

 

 

 

12/23/2015

 

300

Nutter Fort

 

WV

 

 

 

380,000

 

723,892

 

32,524

 

None

 

380,000

 

756,416

 

1,136,416

 

30,772

 

 

 

12/21/2016

 

300

Kenova

 

WV

 

 

 

522,471

 

1,239,689

 

None

 

None

 

522,471

 

1,239,689

 

1,762,160

 

2,066

 

 

 

12/28/2017

 

300

Oak Hill

 

WV

 

 

 

295,869

 

1,200,359

 

None

 

None

 

295,869

 

1,200,359

 

1,496,228

 

2,001

 

 

 

12/28/2017

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automotive service

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Flagstaff

 

AZ

 

 

 

144,821

 

417,485

 

8,150

 

36

 

144,821

 

425,671

 

570,492

 

330,996

 

4/11/2002

 

8/29/1997

 

300

Mesa

 

AZ

 

 

 

210,620

 

475,072

 

None

 

None

 

210,620

 

475,072

 

685,692

 

296,916

 

 

 

5/14/2002

 

300

Phoenix

 

AZ

 

 

 

189,341

 

546,984

 

None

 

None

 

189,341

 

546,984

 

736,325

 

341,865

 

 

 

5/14/2002

 

300

Phoenix

 

AZ

 

 

 

384,608

 

279,824

 

None

 

None

 

384,608

 

279,824

 

664,432

 

174,888

 

 

 

5/14/2002

 

300

Sierra Vista

 

AZ

 

 

 

175,114

 

345,508

 

None

 

None

 

175,114

 

345,508

 

520,622

 

215,941

 

 

 

5/14/2002

 

300

Tucson

 

AZ

 

 

 

226,596

 

437,972

 

None

 

None

 

226,596

 

437,972

 

664,568

 

273,731

 

 

 

5/14/2002

 

300

Bakersfield

 

CA

 

 

 

65,165

 

206,927

 

None

 

None

 

65,165

 

206,927

 

272,092

 

129,328

 

 

 

5/14/2002

 

300

Bakersfield

 

CA

 

 

 

940,000

 

1,463,025

 

None

 

None

 

940,000

 

1,463,025

 

2,403,025

 

46,329

 

 

 

3/28/2017

 

300

Bakersfield

 

CA

 

 

 

980,000

 

1,487,009

 

None

 

None

 

980,000

 

1,487,009

 

2,467,009

 

47,089

 

 

 

3/28/2017

 

300

Bakersfield

 

CA

 

 

 

860,000

 

1,926,663

 

None

 

None

 

860,000

 

1,926,663

 

2,786,663

 

61,011

 

 

 

3/28/2017

 

300

Bakersfield

 

CA

 

 

 

890,000

 

1,134,618

 

None

 

None

 

890,000

 

1,134,618

 

2,024,618

 

35,930

 

 

 

3/28/2017

 

300

Bakersfield

 

CA

 

 

 

1,330,000

 

2,443,052

 

None

 

None

 

1,330,000

 

2,443,052

 

3,773,052

 

36,646

 

 

 

8/22/2017

 

300

Chula Vista

 

CA

 

 

 

313,293

 

409,654

 

26,019

 

177

 

313,293

 

435,850

 

749,143

 

356,321

 

5/1/1996

 

1/19/1996

 

300

Dublin

 

CA

 

 

 

415,620

 

1,153,928

 

None

 

None

 

415,620

 

1,153,928

 

1,569,548

 

721,203

 

 

 

5/14/2002

 

300

Folsom

 

CA

 

 

 

471,813

 

325,610

 

None

 

None

 

471,813

 

325,610

 

797,423

 

203,504

 

 

 

5/14/2002

 

300

Indio

 

CA

 

 

 

264,956

 

265,509

 

None

 

None

 

264,956

 

265,509

 

530,465

 

165,941

 

 

 

5/14/2002

 

300

Lancaster

 

CA

 

 

 

730,000

 

1,462,400

 

None

 

None

 

730,000

 

1,462,400

 

2,192,400

 

46,309

 

 

 

3/28/2017

 

300

Los Angeles

 

CA

 

 

 

580,446

 

158,876

 

None

 

None

 

580,446

 

158,876

 

739,322

 

99,295

 

 

 

5/14/2002

 

300

Oxnard

 

CA

 

 

 

186,980

 

198,236

 

None

 

None

 

186,980

 

198,236

 

385,216

 

123,896

 

 

 

5/14/2002

 

300

Palmdale

 

CA

 

 

 

1,010,000

 

2,313,240

 

None

 

None

 

1,010,000

 

2,313,240

 

3,323,240

 

73,253

 

 

 

3/28/2017

 

300

Simi Valley

 

CA

 

 

 

213,920

 

161,012

 

None

 

None

 

213,920

 

161,012

 

374,932

 

100,631

 

 

 

5/14/2002

 

300

Stockton

 

CA

 

 

 

1,395,822

 

2,882,282

 

None

 

None

 

1,395,822

 

2,882,282

 

4,278,104

 

571,653

 

 

 

1/22/2013

 

300

Vacaville

 

CA

 

 

 

358,067

 

284,931

 

None

 

None

 

358,067

 

284,931

 

642,998

 

178,080

 

 

 

5/14/2002

 

300

Aurora

 

CO

 

 

 

231,314

 

430,495

 

None

 

115

 

231,314

 

430,610

 

661,924

 

177,335

 

 

 

9/4/2007

 

300

Broomfield

 

CO

 

 

 

154,930

 

503,626

 

None

 

2,667

 

154,930

 

506,293

 

661,223

 

433,189

 

8/22/1996

 

3/15/1996

 

300

Denver

 

CO

 

 

 

79,717

 

369,587

 

None

 

79

 

79,717

 

369,666

 

449,383

 

369,666

 

 

 

10/8/1985

 

300

Denver

 

CO

 

 

 

239,024

 

444,785

 

None

 

115

 

239,024

 

444,900

 

683,924

 

183,218

 

 

 

9/4/2007

 

300

Lakewood

 

CO

 

 

 

70,422

 

132,296

 

None

 

None

 

70,422

 

132,296

 

202,718

 

54,462

 

 

 

9/4/2007

 

300

Thornton

 

CO

 

 

 

276,084

 

415,464

 

None

 

316

 

276,084

 

415,780

 

691,864

 

348,224

 

12/31/1996

 

10/31/1996

 

300

Southington

 

CT

 

 

 

225,882

 

672,910

 

None

 

172

 

225,882

 

673,082

 

898,964

 

552,968

 

 

 

6/6/1997

 

300

Vernon

 

CT

 

 

 

81,529

 

300,518

 

None

 

None

 

81,529

 

300,518

 

382,047

 

186,822

 

 

 

6/27/2002

 

300

Jacksonville

 

FL

 

 

 

76,585

 

355,066

 

28,668

 

178

 

76,585

 

383,912

 

460,497

 

362,345

 

 

 

12/23/1985

 

300

Miami Gardens

 

FL

 

 

 

163,239

 

262,726

 

None

 

None

 

163,239

 

262,726

 

425,965

 

163,328

 

 

 

6/27/2002

 

300

Orange City

 

FL

 

 

 

99,613

 

139,008

 

None

 

None

 

99,613

 

139,008

 

238,621

 

86,878

 

 

 

5/14/2002

 

300

Atlanta

 

GA

 

 

 

309,474

 

574,737

 

None

 

None

 

309,474

 

574,737

 

884,211

 

179,126

 

 

 

3/25/2010

 

300

Bogart

 

GA

 

 

 

66,807

 

309,733

 

None

 

None

 

66,807

 

309,733

 

376,540

 

309,733

 

 

 

12/20/1985

 

300

Duluth

 

GA

 

 

 

222,275

 

316,925

 

2,288

 

89

 

222,275

 

319,302

 

541,577

 

254,337

 

10/24/1997

 

6/20/1997

 

300

Duluth

 

GA

 

 

 

290,842

 

110,056

 

None

 

None

 

290,842

 

110,056

 

400,898

 

68,783

 

 

 

5/14/2002

 

300

Kennesaw

 

GA

 

 

 

266,865

 

139,425

 

None

 

None

 

266,865

 

139,425

 

406,290

 

87,139

 

 

 

5/14/2002

 

300

Marietta

 

GA

 

 

 

60,900

 

293,461

 

67,871

 

84

 

60,900

 

361,416

 

422,316

 

335,485

 

 

 

12/26/1985

 

300

Marietta

 

GA

 

 

 

69,561

 

346,024

 

None

 

41

 

69,561

 

346,065

 

415,626

 

346,065

 

 

 

6/3/1986

 

300

Norcross

 

GA

 

 

 

244,124

 

151,831

 

None

 

None

 

244,124

 

151,831

 

395,955

 

94,893

 

 

 

5/14/2002

 

300

Norcross

 

GA

 

 

 

503,773

 

937,121

 

39,032

 

None

 

503,773

 

976,153

 

1,479,926

 

443,836

 

 

 

11/22/2006

 

300

Riverdale

 

GA

 

 

 

58,444

 

270,961

 

None

 

None

 

58,444

 

270,961

 

329,405

 

270,961

 

 

 

1/15/1986

 

300

Snellville

 

GA

 

 

 

253,316

 

132,124

 

None

 

None

 

253,316

 

132,124

 

385,440

 

82,576

 

 

 

5/14/2002

 

300

Tucker

 

GA

 

 

 

78,646

 

364,625

 

32,603

 

3,258

 

78,646

 

400,486

 

479,132

 

380,469

 

 

 

12/18/1985

 

300

Arlington Hts

 

IL

 

 

 

441,437

 

215,983

 

None

 

None

 

441,437

 

215,983

 

657,420

 

134,987

 

 

 

5/14/2002

 

300

Chicago

 

IL

 

 

 

329,076

 

255,294

 

None

 

None

 

329,076

 

255,294

 

584,370

 

159,557

 

 

 

5/14/2002

 

300

Westchester

 

IL

 

 

 

421,239

 

184,812

 

None

 

None

 

421,239

 

184,812

 

606,051

 

115,506

 

 

 

5/14/2002

 

300

Anderson

 

IN

 

 

 

232,170

 

385,661

 

None

 

179

 

232,170

 

385,840

 

618,010

 

309,353

 

 

 

12/19/1997

 

300

Indianapolis

 

IN

 

 

 

231,384

 

428,307

 

None

 

130

 

231,384

 

428,437

 

659,821

 

364,905

 

 

 

9/27/1996

 

300

Michigan City

 

IN

 

 

 

392,638

 

297,650

 

(3,065)

 

None

 

389,573

 

297,650

 

687,223

 

186,030

 

 

 

5/14/2002

 

300

Warsaw

 

IN

 

 

 

140,893

 

228,116

 

None

 

None

 

140,893

 

228,116

 

369,009

 

142,571

 

 

 

5/14/2002

 

300

Topeka

 

KS

 

 

 

32,022

 

60,368

 

None

 

None

 

32,022

 

60,368

 

92,390

 

24,851

 

 

 

9/4/2007

 

300

Wichita

 

KS

 

 

 

787,377

 

1,463,936

 

78,745

 

70,913

 

787,377

 

1,613,594

 

2,400,971

 

699,499

 

 

 

11/1/2006

 

300

Wichita

 

KS

 

 

 

550,000

 

1,103,825

 

None

 

None

 

550,000

 

1,103,825

 

1,653,825

 

12,878

 

 

 

9/21/2017

 

300

 



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Louisville

 

KY

 

 

 

56,054

 

259,881

 

None

 

12

 

56,054

 

259,893

 

315,947

 

259,888

 

 

 

12/17/1985

 

300

East Wareham

 

MA

 

 

 

149,680

 

278,669

 

None

 

None

 

149,680

 

278,669

 

428,349

 

174,166

 

 

 

5/14/2002

 

300

Fairhaven

 

MA

 

 

 

138,957

 

289,294

 

None

 

None

 

138,957

 

289,294

 

428,251

 

180,806

 

 

 

5/14/2002

 

300

Gardner

 

MA

 

 

 

138,990

 

289,361

 

None

 

None

 

138,990

 

289,361

 

428,351

 

180,848

 

 

 

5/14/2002

 

300

Hyannis

 

MA

 

 

 

180,653

 

458,522

 

None

 

None

 

180,653

 

458,522

 

639,175

 

285,048

 

 

 

6/27/2002

 

300

Lenox

 

MA

 

 

 

287,769

 

535,273

 

None

 

None

 

287,769

 

535,273

 

823,042

 

402,336

 

 

 

3/31/1999

 

300

Newburyport

 

MA

 

 

 

274,698

 

466,449

 

None

 

None

 

274,698

 

466,449

 

741,147

 

289,976

 

 

 

6/27/2002

 

300

North Reading

 

MA

 

 

 

180,546

 

351,161

 

None

 

None

 

180,546

 

351,161

 

531,707

 

219,473

 

 

 

5/14/2002

 

300

Orleans

 

MA

 

 

 

138,212

 

394,065

 

None

 

None

 

138,212

 

394,065

 

532,277

 

246,288

 

 

 

5/14/2002

 

300

Teaticket

 

MA

 

 

 

191,302

 

340,539

 

None

 

None

 

191,302

 

340,539

 

531,841

 

212,835

 

 

 

5/14/2002

 

300

Aberdeen

 

MD

 

 

 

223,617

 

225,605

 

None

 

None

 

223,617

 

225,605

 

449,222

 

140,251

 

 

 

6/27/2002

 

300

Bethesda

 

MD

 

 

 

282,717

 

525,928

 

None

 

None

 

282,717

 

525,928

 

808,645

 

216,507

 

 

 

9/4/2007

 

300

Capitol Heights

 

MD

 

 

 

547,173

 

219,979

 

(12,319

)

None

 

534,854

 

219,979

 

754,833

 

137,483

 

 

 

5/14/2002

 

300

Clinton

 

MD

 

 

 

70,880

 

328,620

 

11,440

 

None

 

70,880

 

340,060

 

410,940

 

336,533

 

 

 

11/15/1985

 

300

Lexington Park

 

MD

 

 

 

111,396

 

335,288

 

(7,600

)

None

 

103,796

 

335,288

 

439,084

 

209,551

 

 

 

5/14/2002

 

300

Kalamazoo

 

MI

 

 

 

391,745

 

296,975

 

(2,196

)

None

 

389,549

 

296,975

 

686,524

 

185,608

 

 

 

5/14/2002

 

300

Portage

 

MI

 

 

 

402,409

 

286,441

 

(2,112

)

None

 

400,297

 

286,441

 

686,738

 

179,024

 

 

 

5/14/2002

 

300

Southfield

 

MI

 

 

 

275,952

 

350,765

 

None

 

None

 

275,952

 

350,765

 

626,717

 

219,226

 

 

 

5/14/2002

 

300

Troy

 

MI

 

 

 

214,893

 

199,299

 

None

 

None

 

214,893

 

199,299

 

414,192

 

124,560

 

 

 

5/14/2002

 

300

Saint Cloud

 

MN

 

 

 

203,338

 

258,626

 

None

 

None

 

203,338

 

258,626

 

461,964

 

160,779

 

 

 

6/27/2002

 

300

Independence

 

MO

 

 

 

297,641

 

233,152

 

4,467

 

3,958

 

297,641

 

241,577

 

539,218

 

203,726

 

 

 

12/20/1996

 

300

Asheville

 

NC

 

 

 

441,746

 

242,565

 

None

 

None

 

441,746

 

242,565

 

684,311

 

151,601

 

 

 

5/14/2002

 

300

Asheville

 

NC

 

 

 

838,421

 

1,558,792

 

480

 

27,477

 

838,421

 

1,586,749

 

2,425,170

 

698,600

 

 

 

11/1/2006

 

300

Asheville

 

NC

 

 

 

960,000

 

1,314,406

 

None

 

None

 

960,000

 

1,314,406

 

2,274,406

 

15,335

 

 

 

9/21/2017

 

300

Concord

 

NC

 

 

 

237,688

 

357,976

 

6,863

 

26

 

237,688

 

364,865

 

602,553

 

280,084

 

 

 

11/5/1997

 

300

Durham

 

NC

 

 

 

55,074

 

255,336

 

None

 

647

 

55,074

 

255,983

 

311,057

 

255,983

 

 

 

11/13/1985

 

300

Durham

 

NC

 

 

 

354,676

 

361,203

 

67,400

 

12

 

354,676

 

428,615

 

783,291

 

311,235

 

8/29/1997

 

3/31/1997

 

300

Fayetteville

 

NC

 

 

 

224,326

 

257,733

 

None

 

131

 

224,326

 

257,864

 

482,190

 

206,730

 

 

 

12/3/1997

 

300

Greensboro

 

NC

 

 

 

286,068

 

244,606

 

None

 

None

 

286,068

 

244,606

 

530,674

 

152,870

 

 

 

5/14/2002

 

300

Matthews

 

NC

 

 

 

295,580

 

338,472

 

17,484

 

16,095

 

295,580

 

372,051

 

667,631

 

276,275

 

8/28/1998

 

2/27/1998

 

300

Pineville

 

NC

 

 

 

254,460

 

355,630

 

50,770

 

23

 

254,460

 

406,423

 

660,883

 

288,734

 

8/28/1997

 

4/16/1997

 

300

Raleigh

 

NC

 

 

 

89,145

 

413,301

 

None

 

None

 

89,145

 

413,301

 

502,446

 

413,301

 

 

 

10/28/1985

 

300

Raleigh

 

NC

 

 

 

398,694

 

263,621

 

None

 

None

 

398,694

 

263,621

 

662,315

 

213,058

 

 

 

10/1/1997

 

300

Salisbury

 

NC

 

 

 

235,614

 

150,592

 

None

 

None

 

235,614

 

150,592

 

386,206

 

94,118

 

 

 

5/14/2002

 

300

Arden

 

NC

 

 

 

1,010,000

 

1,290,755

 

None

 

None

 

1,010,000

 

1,290,755

 

2,300,755

 

15,059

 

 

 

9/21/2017

 

300

Weaverville

 

NC

 

 

 

470,000

 

1,595,752

 

None

 

None

 

470,000

 

1,595,752

 

2,065,752

 

18,617

 

 

 

9/21/2017

 

300

Lincoln

 

NE

 

 

 

337,138

 

316,958

 

None

 

None

 

337,138

 

316,958

 

654,096

 

198,096

 

 

 

5/14/2002

 

300

Cherry Hill

 

NJ

 

 

 

463,808

 

862,240

 

None

 

None

 

463,808

 

862,240

 

1,326,048

 

354,955

 

 

 

9/4/2007

 

300

Edison

 

NJ

 

 

 

448,936

 

238,773

 

None

 

None

 

448,936

 

238,773

 

687,709

 

149,230

 

 

 

5/14/2002

 

300

Glassboro

 

NJ

 

 

 

182,013

 

312,480

 

None

 

None

 

182,013

 

312,480

 

494,493

 

194,258

 

 

 

6/27/2002

 

300

Hamilton Square

 

NJ

 

 

 

422,477

 

291,555

 

None

 

None

 

422,477

 

291,555

 

714,032

 

182,218

 

 

 

5/14/2002

 

300

Pleasantville

 

NJ

 

 

 

77,105

 

144,693

 

None

 

None

 

77,105

 

144,693

 

221,798

 

59,565

 

 

 

9/4/2007

 

300

Randolph

 

NJ

 

 

 

452,629

 

390,163

 

None

 

None

 

452,629

 

390,163

 

842,792

 

243,849

 

 

 

5/14/2002

 

300

Trenton

 

NJ

 

 

 

265,238

 

298,167

 

None

 

None

 

265,238

 

298,167

 

563,405

 

186,351

 

 

 

5/14/2002

 

300

West Deptford

 

NJ

 

 

 

212,788

 

320,283

 

None

 

None

 

212,788

 

320,283

 

533,071

 

200,173

 

 

 

5/14/2002

 

300

Westfield

 

NJ

 

 

 

705,337

 

288,720

 

None

 

None

 

705,337

 

288,720

 

994,057

 

180,445

 

 

 

5/14/2002

 

300

Albuquerque

 

NM

 

 

 

231,553

 

430,026

 

None

 

None

 

231,553

 

430,026

 

661,579

 

134,025

 

 

 

3/25/2010

 

300

Las Vegas

 

NV

 

 

 

326,879

 

359,101

 

None

 

None

 

326,879

 

359,101

 

685,980

 

224,436

 

 

 

5/14/2002

 

300

Las Vegas

 

NV

 

 

 

316,441

 

369,768

 

None

 

None

 

316,441

 

369,768

 

686,209

 

231,103

 

 

 

5/14/2002

 

300

Las Vegas

 

NV

 

 

 

252,169

 

562,715

 

None

 

None

 

252,169

 

562,715

 

814,884

 

351,695

 

 

 

5/14/2002

 

300

Las Vegas

 

NV

 

 

 

1,940,015

 

3,624,877

 

None

 

None

 

1,940,015

 

3,624,877

 

5,564,892

 

718,934

 

 

 

1/22/2013

 

300

Sparks

 

NV

 

 

 

326,813

 

306,311

 

None

 

None

 

326,813

 

306,311

 

633,124

 

191,442

 

 

 

5/14/2002

 

300

Bethpage

 

NY

 

 

 

334,120

 

621,391

 

None

 

None

 

334,120

 

621,391

 

955,511

 

255,806

 

 

 

9/4/2007

 

300

Commack

 

NY

 

 

 

400,427

 

744,533

 

240,780

 

1,158

 

400,427

 

986,471

 

1,386,898

 

308,328

 

 

 

9/4/2007

 

300

East Amherst

 

NY

 

 

 

260,708

 

484,788

 

None

 

None

 

260,708

 

484,788

 

745,496

 

364,391

 

 

 

3/31/1999

 

300

East Syracuse

 

NY

 

 

 

250,609

 

466,264

 

None

 

None

 

250,609

 

466,264

 

716,873

 

350,464

 

 

 

3/31/1999

 

300

Freeport

 

NY

 

 

 

134,828

 

251,894

 

None

 

None

 

134,828

 

251,894

 

386,722

 

103,696

 

 

 

9/4/2007

 

300

Johnson City

 

NY

 

 

 

242,863

 

451,877

 

None

 

None

 

242,863

 

451,877

 

694,740

 

339,650

 

 

 

3/31/1999

 

300

Queens Village

 

NY

 

 

 

242,775

 

451,749

 

None

 

None

 

242,775

 

451,749

 

694,524

 

185,970

 

 

 

9/4/2007

 

300

Riverhead

 

NY

 

 

 

143,929

 

268,795

 

None

 

None

 

143,929

 

268,795

 

412,724

 

110,654

 

 

 

9/4/2007

 

300

West Amherst

 

NY

 

 

 

268,692

 

499,619

 

None

 

None

 

268,692

 

499,619

 

768,311

 

375,539

 

 

 

3/31/1999

 

300

Beavercreek

 

OH

 

 

 

205,000

 

492,538

 

None

 

None

 

205,000

 

492,538

 

697,538

 

409,627

 

2/13/1997

 

9/9/1996

 

300

Canal Winchester

 

OH

 

 

 

443,751

 

825,491

 

None

 

None

 

443,751

 

825,491

 

1,269,242

 

494,964

 

12/19/2002

 

8/21/2002

 

300

Centerville

 

OH

 

 

 

305,000

 

420,448

 

None

 

None

 

305,000

 

420,448

 

725,448

 

360,885

 

7/24/1996

 

6/28/1996

 

300

Cincinnati

 

OH

 

 

 

211,185

 

392,210

 

None

 

None

 

211,185

 

392,210

 

603,395

 

221,599

 

 

 

11/3/2003

 

300

Cincinnati

 

OH

 

 

 

305,556

 

244,662

 

None

 

None

 

305,556

 

244,662

 

550,218

 

130,078

 

 

 

9/17/2004

 

300

Cincinnati

 

OH

 

 

 

589,286

 

160,932

 

None

 

None

 

589,286

 

160,932

 

750,218

 

85,562

 

 

 

9/17/2004

 

300

Cincinnati

 

OH

 

 

 

159,375

 

265,842

 

None

 

None

 

159,375

 

265,842

 

425,217

 

141,339

 

 

 

9/17/2004

 

300

Cincinnati

 

OH

 

 

 

350,000

 

300,217

 

None

 

None

 

350,000

 

300,217

 

650,217

 

156,613

 

 

 

12/20/2004

 

300

Cleveland

 

OH

 

 

 

337,593

 

451,944

 

None

 

None

 

337,593

 

451,944

 

789,537

 

264,387

 

 

 

5/27/2003

 

300

Cleveland

 

OH

 

 

 

317,308

 

307,842

 

None

 

None

 

317,308

 

307,842

 

625,150

 

163,669

 

 

 

9/17/2004

 

300

Columbus

 

OH

 

 

 

71,098

 

329,627

 

None

 

None

 

71,098

 

329,627

 

400,725

 

329,627

 

 

 

10/2/1985

 

300

Columbus

 

OH

 

 

 

75,761

 

351,247

 

None

 

None

 

75,761

 

351,247

 

427,008

 

351,247

 

 

 

10/24/1985

 

300

Columbus

 

OH

 

 

 

432,110

 

386,553

 

None

 

None

 

432,110

 

386,553

 

818,663

 

226,133

 

 

 

5/27/2003

 

300

Columbus

 

OH

 

 

 

466,696

 

548,133

 

None

 

None

 

466,696

 

548,133

 

1,014,829

 

320,657

 

 

 

5/27/2003

 

300

Columbus

 

OH

 

 

 

337,679

 

272,484

 

None

 

None

 

337,679

 

272,484

 

610,163

 

144,870

 

 

 

9/17/2004

 

300

Columbus

 

OH

 

 

 

190,000

 

260,162

 

None

 

None

 

190,000

 

260,162

 

450,162

 

138,319

 

 

 

9/17/2004

 

300

Columbus

 

OH

 

 

 

371,429

 

278,734

 

None

 

None

 

371,429

 

278,734

 

650,163

 

148,193

 

 

 

9/17/2004

 

300

Cuyahoga Falls

 

OH

 

 

 

253,750

 

271,400

 

None

 

None

 

253,750

 

271,400

 

525,150

 

144,294

 

 

 

9/17/2004

 

300

Dayton

 

OH

 

 

 

70,000

 

324,538

 

None

 

None

 

70,000

 

324,538

 

394,538

 

324,538

 

 

 

10/31/1985

 

300

Dayton

 

OH

 

 

 

349,091

 

251,127

 

None

 

None

 

349,091

 

251,127

 

600,218

 

133,515

 

 

 

9/17/2004

 

300

Dublin

 

OH

 

 

 

437,887

 

428,046

 

None

 

None

 

437,887

 

428,046

 

865,933

 

250,406

 

 

 

5/27/2003

 

300

Fairfield

 

OH

 

 

 

323,408

 

235,024

 

44,232

 

3,330

 

323,408

 

282,586

 

605,994

 

217,679

 

 

 

9/17/1997

 

300

Fairlawn

 

OH

 

 

 

280,000

 

270,150

 

None

 

None

 

280,000

 

270,150

 

550,150

 

143,629

 

 

 

9/17/2004

 

300

Findlay

 

OH

 

 

 

283,515

 

397,004

 

None

 

16,801

 

283,515

 

413,805

 

697,320

 

322,676

 

 

 

12/24/1997

 

300

Hamilton

 

OH

 

 

 

252,608

 

413,279

 

None

 

None

 

252,608

 

413,279

 

665,887

 

339,574

 

3/31/1997

 

10/4/1996

 

300

Huber Heights

 

OH

 

 

 

282,000

 

449,381

 

None

 

None

 

282,000

 

449,381

 

731,381

 

376,731

 

12/3/1996

 

7/18/1996

 

300

Lima

 

OH

 

 

 

241,132

 

114,085

 

None

 

None

 

241,132

 

114,085

 

355,217

 

60,655

 

 

 

9/17/2004

 

300

Marion

 

OH

 

 

 

100,000

 

275,162

 

None

 

None

 

100,000

 

275,162

 

375,162

 

143,543

 

 

 

12/20/2004

 

300

Mason

 

OH

 

 

 

310,990

 

405,373

 

None

 

None

 

310,990

 

405,373

 

716,363

 

237,142

 

 

 

5/27/2003

 

300

Mount Vernon

 

OH

 

 

 

216,115

 

375,357

 

None

 

114

 

216,115

 

375,471

 

591,586

 

301,025

 

 

 

12/30/1997

 

300

Norwalk

 

OH

 

 

 

200,205

 

366,000

 

None

 

114

 

200,205

 

366,114

 

566,319

 

293,522

 

 

 

12/19/1997

 

300

Parma

 

OH

 

 

 

268,966

 

381,184

 

None

 

None

 

268,966

 

381,184

 

650,150

 

202,663

 

 

 

9/17/2004

 

300

Reynoldsburg

 

OH

 

 

 

267,750

 

497,371

 

None

 

None

 

267,750

 

497,371

 

765,121

 

264,436

 

 

 

9/15/2004

 

300

Reynoldsburg

 

OH

 

 

 

374,000

 

176,162

 

None

 

None

 

374,000

 

176,162

 

550,162

 

93,659

 

 

 

9/17/2004

 

300

Sandusky

 

OH

 

 

 

264,708

 

404,011

 

None

 

114

 

264,708

 

404,125

 

668,833

 

324,000

 

 

 

12/19/1997

 

300

Solon

 

OH

 

 

 

794,305

 

222,797

 

None

 

None

 

794,305

 

222,797

 

1,017,102

 

130,337

 

 

 

5/27/2003

 

300

Springboro

 

OH

 

 

 

191,911

 

522,902

 

None

 

None

 

191,911

 

522,902

 

714,813

 

434,721

 

 

 

3/7/1997

 

300

Springfield

 

OH

 

 

 

320,000

 

280,217

 

None

 

None

 

320,000

 

280,217

 

600,217

 

148,982

 

 

 

9/17/2004

 

300

Springfield

 

OH

 

 

 

189,091

 

136,127

 

None

 

None

 

189,091

 

136,127

 

325,218

 

72,374

 

 

 

9/17/2004

 

300

Stow

 

OH

 

 

 

310,000

 

415,150

 

None

 

None

 

310,000

 

415,150

 

725,150

 

220,721

 

 

 

9/17/2004

 

300

Toledo

 

OH

 

 

 

120,000

 

230,217

 

None

 

None

 

120,000

 

230,217

 

350,217

 

122,399

 

 

 

9/17/2004

 

300

Toledo

 

OH

 

 

 

250,000

 

175,217

 

None

 

None

 

250,000

 

175,217

 

425,217

 

93,157

 

 

 

9/17/2004

 

300

Toledo

 

OH

 

 

 

320,000

 

280,217

 

None

 

None

 

320,000

 

280,217

 

600,217

 

148,982

 

 

 

9/17/2004

 

300

Toledo

 

OH

 

 

 

250,000

 

530,217

 

None

 

None

 

250,000

 

530,217

 

780,217

 

281,899

 

 

 

9/17/2004

 

300

West Chester

 

OH

 

 

 

446,449

 

768,644

 

None

 

None

 

446,449

 

768,644

 

1,215,093

 

443,637

 

6/27/2003

 

3/11/2003

 

300

Willowick

 

OH

 

 

 

321,347

 

459,774

 

None

 

None

 

321,347

 

459,774

 

781,121

 

405,367

 

 

 

12/22/1995

 

300

Zanesville

 

OH

 

 

 

125,000

 

300,162

 

None

 

None

 

125,000

 

300,162

 

425,162

 

159,586

 

 

 

9/17/2004

 

300

Tulsa

 

OK

 

 

 

133,648

 

249,702

 

None

 

51

 

133,648

 

249,753

 

383,401

 

102,802

 

 

 

9/4/2007

 

300

Portland

 

OR

 

 

 

251,499

 

345,952

 

None

 

58

 

251,499

 

346,010

 

597,509

 

211,081

 

 

 

9/26/2002

 

300

Salem

 

OR

 

 

 

337,711

 

253,855

 

None

 

58

 

337,711

 

253,913

 

591,624

 

158,709

 

 

 

5/14/2002

 

300

Bethel Park

 

PA

 

 

 

299,595

 

331,264

 

None

 

114

 

299,595

 

331,378

 

630,973

 

265,684

 

 

 

12/19/1997

 

300

Bethlehem

 

PA

 

 

 

275,328

 

389,067

 

None

 

172

 

275,328

 

389,239

 

664,567

 

312,080

 

 

 

12/19/1997

 

300

Bethlehem

 

PA

 

 

 

229,162

 

310,526

 

None

 

172

 

229,162

 

310,698

 

539,860

 

249,106

 

 

 

12/24/1997

 

300

 



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bridgeville

 

PA

 

 

 

275,000

 

375,150

 

None

 

None

 

275,000

 

375,150

 

650,150

 

199,454

 

 

 

9/17/2004

 

300

Coraopolis

 

PA

 

 

 

225,000

 

375,150

 

None

 

None

 

225,000

 

375,150

 

600,150

 

199,454

 

 

 

9/17/2004

 

300

Harrisburg

 

PA

 

 

 

131,529

 

220,317

 

(2,515

)

None

 

129,014

 

220,317

 

349,331

 

137,694

 

 

 

5/14/2002

 

300

Monroeville

 

PA

 

 

 

275,000

 

250,150

 

None

 

None

 

275,000

 

250,150

 

525,150

 

132,996

 

 

 

9/17/2004

 

300

North Wales

 

PA

 

 

 

2,813,873

 

4,379,809

 

None

 

None

 

2,813,873

 

4,379,809

 

7,193,682

 

868,662

 

 

 

1/22/2013

 

300

Pittsburgh

 

PA

 

 

 

378,715

 

685,374

 

None

 

None

 

378,715

 

685,374

 

1,064,089

 

416,147

 

8/22/2002

 

1/17/2002

 

300

Pittsburgh

 

PA

 

 

 

219,938

 

408,466

 

None

 

None

 

219,938

 

408,466

 

628,404

 

230,784

 

 

 

11/3/2003

 

300

Pittsburgh

 

PA

 

 

 

175,000

 

300,150

 

None

 

None

 

175,000

 

300,150

 

475,150

 

159,579

 

 

 

9/17/2004

 

300

Pittsburgh

 

PA

 

 

 

243,750

 

406,400

 

None

 

None

 

243,750

 

406,400

 

650,150

 

216,069

 

 

 

9/17/2004

 

300

Pittsburgh

 

PA

 

 

 

208,333

 

416,817

 

None

 

None

 

208,333

 

416,817

 

625,150

 

221,607

 

 

 

9/17/2004

 

300

Pittsburgh

 

PA

 

 

 

121,429

 

303,721

 

None

 

None

 

121,429

 

303,721

 

425,150

 

161,478

 

 

 

9/17/2004

 

300

Warminster

 

PA

 

 

 

323,847

 

216,999

 

(3,929

)

None

 

319,918

 

216,999

 

536,917

 

135,621

 

 

 

5/14/2002

 

300

Wexford

 

PA

 

 

 

284,375

 

240,775

 

None

 

None

 

284,375

 

240,775

 

525,150

 

128,012

 

 

 

9/17/2004

 

300

York

 

PA

 

 

 

249,436

 

347,424

 

None

 

172

 

249,436

 

347,596

 

597,032

 

278,691

 

 

 

12/30/1997

 

300

Charleston

 

SC

 

 

 

217,250

 

294,079

 

6,700

 

159

 

217,250

 

300,938

 

518,188

 

243,664

 

7/14/1997

 

3/13/1997

 

300

Columbia

 

SC

 

 

 

267,622

 

298,594

 

4,116

 

None

 

267,622

 

302,710

 

570,332

 

236,932

 

3/31/1998

 

11/5/1997

 

300

Greenville

 

SC

 

 

 

221,946

 

315,163

 

None

 

None

 

221,946

 

315,163

 

537,109

 

254,728

 

9/5/1997

 

3/31/1997

 

300

Lexington

 

SC

 

 

 

241,534

 

342,182

 

None

 

None

 

241,534

 

342,182

 

583,716

 

256,211

 

 

 

9/24/1998

 

300

North Charleston

 

SC

 

 

 

174,980

 

341,466

 

14,074

 

153

 

174,980

 

355,693

 

530,673

 

271,220

 

8/6/1998

 

3/12/1998

 

300

Sioux Falls

 

SD

 

 

 

48,833

 

91,572

 

None

 

None

 

48,833

 

91,572

 

140,405

 

37,697

 

 

 

9/4/2007

 

300

Antioch

 

TN

 

 

 

400,000

 

781,228

 

None

 

None

 

400,000

 

781,228

 

1,181,228

 

87,237

 

 

 

3/24/2015

 

300

Athens

 

TN

 

 

 

760,000

 

1,068,639

 

None

 

None

 

760,000

 

1,068,639

 

1,828,639

 

12,467

 

 

 

9/21/2017

 

300

Brentwood

 

TN

 

 

 

305,546

 

505,728

 

None

 

None

 

305,546

 

505,728

 

811,274

 

403,732

 

3/13/1998

 

5/28/1997

 

300

Columbia

 

TN

 

 

 

540,000

 

749,813

 

None

 

None

 

540,000

 

749,813

 

1,289,813

 

83,729

 

 

 

3/24/2015

 

300

Gallatin

 

TN

 

 

 

720,000

 

862,737

 

None

 

None

 

720,000

 

862,737

 

1,582,737

 

96,339

 

 

 

3/24/2015

 

300

Hendersonville

 

TN

 

 

 

175,764

 

327,096

 

None

 

None

 

175,764

 

327,096

 

502,860

 

195,712

 

 

 

1/21/2003

 

300

Hendersonville

 

TN

 

 

 

680,000

 

972,437

 

None

 

None

 

680,000

 

972,437

 

1,652,437

 

108,589

 

 

 

3/24/2015

 

300

Hermitage

 

TN

 

 

 

204,296

 

172,695

 

None

 

None

 

204,296

 

172,695

 

376,991

 

107,933

 

 

 

5/14/2002

 

300

Hermitage

 

TN

 

 

 

480,000

 

789,017

 

None

 

None

 

480,000

 

789,017

 

1,269,017

 

88,107

 

 

 

3/24/2015

 

300

Knoxville

 

TN

 

 

 

1,570,000

 

1,822,418

 

None

 

None

 

1,570,000

 

1,822,418

 

3,392,418

 

21,262

 

 

 

9/21/2017

 

300

Madison

 

TN

 

 

 

175,769

 

327,068

 

None

 

None

 

175,769

 

327,068

 

502,837

 

195,696

 

 

 

1/21/2003

 

300

Maryville

 

TN

 

 

 

1,090,000

 

1,092,328

 

None

 

None

 

1,090,000

 

1,092,328

 

2,182,328

 

12,744

 

 

 

9/21/2017

 

300

Memphis

 

TN

 

 

 

108,094

 

217,079

 

None

 

None

 

108,094

 

217,079

 

325,173

 

135,672

 

 

 

5/14/2002

 

300

Memphis

 

TN

 

 

 

214,110

 

193,591

 

None

 

None

 

214,110

 

193,591

 

407,701

 

120,992

 

 

 

5/14/2002

 

300

Memphis

 

TN

 

 

 

215,017

 

216,794

 

None

 

None

 

215,017

 

216,794

 

431,811

 

134,774

 

 

 

6/27/2002

 

300

Mount Juliet

 

TN

 

 

 

540,000

 

929,909

 

None

 

None

 

540,000

 

929,909

 

1,469,909

 

103,840

 

 

 

3/24/2015

 

300

Murfreesboro

 

TN

 

 

 

150,411

 

215,528

 

None

 

None

 

150,411

 

215,528

 

365,939

 

134,703

 

 

 

5/14/2002

 

300

Murfreesboro

 

TN

 

 

 

563,164

 

814,275

 

None

 

None

 

563,164

 

814,275

 

1,377,439

 

90,927

 

 

 

3/24/2015

 

300

Murfreesboro

 

TN

 

 

 

550,000

 

851,709

 

None

 

None

 

550,000

 

851,709

 

1,401,709

 

95,108

 

 

 

3/24/2015

 

300

Nashville

 

TN

 

 

 

342,960

 

227,440

 

None

 

None

 

342,960

 

227,440

 

570,400

 

184,555

 

 

 

9/17/1997

 

300

Nashville

 

TN

 

 

 

600,000

 

752,612

 

None

 

None

 

600,000

 

752,612

 

1,352,612

 

84,042

 

 

 

3/24/2015

 

300

Nashville

 

TN

 

 

 

510,210

 

792,902

 

None

 

None

 

510,210

 

792,902

 

1,303,112

 

88,541

 

 

 

3/24/2015

 

300

Nashville

 

TN

 

 

 

568,793

 

822,413

 

None

 

None

 

568,793

 

822,413

 

1,391,206

 

91,836

 

 

 

3/24/2015

 

300

Ooltewah

 

TN

 

 

 

940,000

 

1,193,572

 

None

 

None

 

940,000

 

1,193,572

 

2,133,572

 

13,925

 

 

 

9/21/2017

 

300

Smyrna

 

TN

 

 

 

560,000

 

874,142

 

None

 

None

 

560,000

 

874,142

 

1,434,142

 

97,613

 

 

 

3/24/2015

 

300

Oak Ridge

 

TN

 

 

 

750,000

 

1,030,152

 

None

 

None

 

750,000

 

1,030,152

 

1,780,152

 

12,018

 

 

 

9/21/2017

 

300

Carrollton

 

TX

 

 

 

174,284

 

98,623

 

None

 

None

 

174,284

 

98,623

 

272,907

 

61,637

 

 

 

5/14/2002

 

300

Carrollton

 

TX

 

 

 

177,041

 

199,088

 

None

 

None

 

177,041

 

199,088

 

376,129

 

124,428

 

 

 

5/14/2002

 

300

Copperas Cove

 

TX

 

 

 

820,000

 

1,069,475

 

None

 

None

 

820,000

 

1,069,475

 

1,889,475

 

58,821

 

 

 

8/9/2016

 

300

Dallas

 

TX

 

 

 

234,604

 

325,951

 

12,719

 

15,373

 

234,604

 

354,043

 

588,647

 

293,832

 

8/9/1996

 

2/19/1996

 

300

Fort Worth

 

TX

 

 

 

83,530

 

111,960

 

None

 

None

 

83,530

 

111,960

 

195,490

 

69,973

 

 

 

5/14/2002

 

300

Houston

 

TX

 

 

 

285,000

 

369,697

 

None

 

311

 

285,000

 

370,008

 

655,008

 

299,044

 

8/8/1997

 

8/8/1997

 

300

Houston

 

TX

 

 

 

2,350,000

 

1,115,798

 

None

 

None

 

2,350,000

 

1,115,798

 

3,465,798

 

76,246

 

 

 

4/5/2016

 

300

Humble

 

TX

 

 

 

257,169

 

325,652

 

None

 

None

 

257,169

 

325,652

 

582,821

 

203,531

 

 

 

5/14/2002

 

300

Killeen

 

TX

 

 

 

710,000

 

991,863

 

None

 

None

 

710,000

 

991,863

 

1,701,863

 

54,552

 

 

 

8/9/2016

 

300

Killeen

 

TX

 

 

 

210,000

 

1,596,000

 

None

 

None

 

210,000

 

1,596,000

 

1,806,000

 

87,780

 

 

 

8/9/2016

 

300

Lake Jackson

 

TX

 

 

 

197,170

 

256,376

 

None

 

None

 

197,170

 

256,376

 

453,546

 

160,233

 

 

 

5/14/2002

 

300

Lewisville

 

TX

 

 

 

199,942

 

324,736

 

None

 

None

 

199,942

 

324,736

 

524,678

 

277,649

 

8/2/1996

 

2/14/1996

 

300

Lewisville

 

TX

 

 

 

130,238

 

207,683

 

None

 

None

 

130,238

 

207,683

 

337,921

 

129,110

 

 

 

6/27/2002

 

300

Pflugerville

 

TX

 

 

 

410,000

 

1,356,656

 

None

 

None

 

410,000

 

1,356,656

 

1,766,656

 

74,616

 

 

 

8/9/2016

 

300

Temple

 

TX

 

 

 

530,000

 

1,453,900

 

None

 

None

 

530,000

 

1,453,900

 

1,983,900

 

79,965

 

 

 

8/9/2016

 

300

Waco

 

TX

 

 

 

232,105

 

431,053

 

None

 

None

 

232,105

 

431,053

 

663,158

 

134,345

 

 

 

3/25/2010

 

300

Helotes

 

TX

 

 

 

1,360,000

 

1,032,521

 

None

 

None

 

1,360,000

 

1,032,521

 

2,392,521

 

12,046

 

 

 

9/21/2017

 

300

American Fork

 

UT

 

 

 

849,848

 

2,561,827

 

None

 

None

 

849,848

 

2,561,827

 

3,411,675

 

439,780

 

 

 

9/26/2013

 

300

Cottonwood Hghts

 

UT

 

 

 

720,000

 

1,734,194

 

None

 

None

 

720,000

 

1,734,194

 

2,454,194

 

101,161

 

 

 

7/20/2016

 

300

Draper

 

UT

 

 

 

1,220,000

 

1,574,521

 

None

 

None

 

1,220,000

 

1,574,521

 

2,794,521

 

91,847

 

 

 

7/20/2016

 

300

Layton

 

UT

 

 

 

390,000

 

1,575,711

 

None

 

None

 

390,000

 

1,575,711

 

1,965,711

 

191,712

 

 

 

12/16/2014

 

300

Park City

 

UT

 

 

 

780,000

 

1,082,808

 

None

 

None

 

780,000

 

1,082,808

 

1,862,808

 

131,742

 

 

 

12/16/2014

 

300

South Jordan

 

UT

 

 

 

1,620,150

 

1,879,850

 

None

 

None

 

1,620,150

 

1,879,850

 

3,500,000

 

316,441

 

 

 

10/15/2013

 

300

Chesapeake

 

VA

 

 

 

620,000

 

878,059

 

None

 

None

 

620,000

 

878,059

 

1,498,059

 

27,805

 

 

 

3/9/2017

 

300

Chesapeake

 

VA

 

 

 

1,030,000

 

423,911

 

None

 

None

 

1,030,000

 

423,911

 

1,453,911

 

13,424

 

 

 

3/9/2017

 

300

Chesapeake

 

VA

 

 

 

750,000

 

806,516

 

None

 

None

 

750,000

 

806,516

 

1,556,516

 

25,540

 

 

 

3/9/2017

 

300

Chesapeake

 

VA

 

 

 

1,300,000

 

1,889,265

 

None

 

None

 

1,300,000

 

1,889,265

 

3,189,265

 

59,827

 

 

 

3/9/2017

 

300

Hampton

 

VA

 

 

 

710,000

 

734,904

 

None

 

None

 

710,000

 

734,904

 

1,444,904

 

23,272

 

 

 

3/9/2017

 

300

Hampton

 

VA

 

 

 

460,000

 

329,113

 

None

 

None

 

460,000

 

329,113

 

789,113

 

10,422

 

 

 

3/9/2017

 

300

Hampton

 

VA

 

 

 

720,000

 

835,007

 

None

 

None

 

720,000

 

835,007

 

1,555,007

 

26,442

 

 

 

3/9/2017

 

300

Newport news

 

VA

 

 

 

450,000

 

830,388

 

None

 

None

 

450,000

 

830,388

 

1,280,388

 

26,296

 

 

 

3/9/2017

 

300

Newport News

 

VA

 

 

 

350,000

 

573,817

 

None

 

None

 

350,000

 

573,817

 

923,817

 

18,171

 

 

 

3/9/2017

 

300

Norfolk

 

VA

 

 

 

460,000

 

522,772

 

None

 

None

 

460,000

 

522,772

 

982,772

 

16,554

 

 

 

3/9/2017

 

300

Norfolk

 

VA

 

 

 

530,000

 

672,381

 

None

 

None

 

530,000

 

672,381

 

1,202,381

 

21,292

 

 

 

3/9/2017

 

300

Norfolk

 

VA

 

 

 

630,000

 

495,775

 

500

 

None

 

630,000

 

496,275

 

1,126,275

 

15,741

 

 

 

3/9/2017

 

300

Richmond

 

VA

 

 

 

403,549

 

876,981

 

None

 

None

 

403,549

 

876,981

 

1,280,530

 

488,588

 

7/8/2004

 

10/17/2002

 

300

Roanoke

 

VA

 

 

 

349,628

 

322,545

 

None

 

153

 

349,628

 

322,698

 

672,326

 

258,731

 

 

 

12/19/1997

 

300

Suffolk

 

VA

 

 

 

790,000

 

504,279

 

None

 

None

 

790,000

 

504,279

 

1,294,279

 

15,969

 

 

 

3/9/2017

 

300

Virginia beach

 

VA

 

 

 

760,000

 

417,873

 

None

 

None

 

760,000

 

417,873

 

1,177,873

 

13,233

 

 

 

3/9/2017

 

300

Virginia beach

 

VA

 

 

 

1,070,000

 

342,099

 

None

 

None

 

1,070,000

 

342,099

 

1,412,099

 

10,833

 

 

 

3/9/2017

 

300

Virginia beach

 

VA

 

 

 

930,000

 

321,534

 

None

 

None

 

930,000

 

321,534

 

1,251,534

 

10,182

 

 

 

3/9/2017

 

300

Virginia Beach

 

VA

 

 

 

480,000

 

386,732

 

None

 

None

 

480,000

 

386,732

 

866,732

 

12,247

 

 

 

3/9/2017

 

300

Virginia Beach

 

VA

 

 

 

670,000

 

460,364

 

None

 

None

 

670,000

 

460,364

 

1,130,364

 

14,578

 

 

 

3/9/2017

 

300

Virginia beach

 

VA

 

 

 

890,000

 

1,358,843

 

None

 

None

 

890,000

 

1,358,843

 

2,248,843

 

43,030

 

 

 

3/9/2017

 

300

Warrenton

 

VA

 

 

 

186,723

 

241,173

 

None

 

None

 

186,723

 

241,173

 

427,896

 

150,730

 

 

 

5/14/2002

 

300

Bremerton

 

WA

 

 

 

261,172

 

373,080

 

None

 

2,621

 

261,172

 

375,701

 

636,873

 

317,481

 

3/19/1997

 

7/24/1996

 

300

Tacoma

 

WA

 

 

 

109,127

 

202,691

 

None

 

None

 

109,127

 

202,691

 

311,818

 

83,441

 

 

 

9/4/2007

 

300

Cudahy

 

WI

 

 

 

470,000

 

1,208,890

 

None

 

None

 

470,000

 

1,208,890

 

1,678,890

 

70,519

 

 

 

7/14/2016

 

300

Franklin

 

WI

 

 

 

1,090,000

 

2,175,218

 

None

 

None

 

1,090,000

 

2,175,218

 

3,265,218

 

126,888

 

 

 

7/14/2016

 

300

Menomonee Falls

 

WI

 

 

 

1,280,000

 

1,892,112

 

None

 

None

 

1,280,000

 

1,892,112

 

3,172,112

 

110,373

 

 

 

7/14/2016

 

300

Milwaukee

 

WI

 

 

 

173,005

 

499,244

 

None

 

None

 

173,005

 

499,244

 

672,249

 

440,166

 

 

 

12/22/1995

 

300

Milwaukee

 

WI

 

 

 

152,509

 

475,480

 

None

 

None

 

152,509

 

475,480

 

627,989

 

404,950

 

 

 

9/27/1996

 

300

Mount Pleasant

 

WI

 

 

 

184,002

 

114,167

 

None

 

None

 

184,002

 

114,167

 

298,169

 

71,353

 

 

 

5/14/2002

 

300

New Berlin

 

WI

 

 

 

188,491

 

466,268

 

55,866

 

507

 

188,491

 

522,641

 

711,132

 

419,095

 

 

 

12/22/1995

 

300

Oshkosh

 

WI

 

 

 

150,000

 

820,494

 

None

 

None

 

150,000

 

820,494

 

970,494

 

47,862

 

 

 

7/14/2016

 

300

West Milwaukee

 

WI

 

 

 

780,000

 

1,747,681

 

None

 

None

 

780,000

 

1,747,681

 

2,527,681

 

101,948

 

 

 

7/14/2016

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automotive tire services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Athens

 

AL

 

 

 

760,031

 

1,413,494

 

None

 

None

 

760,031

 

1,413,494

 

2,173,525

 

629,001

 

 

 

11/22/2006

 

300

Auburn

 

AL

 

 

 

660,210

 

1,228,112

 

None

 

None

 

660,210

 

1,228,112

 

1,888,322

 

546,506

 

 

 

11/22/2006

 

300

Birmingham

 

AL

 

 

 

635,111

 

1,180,909

 

None

 

None

 

635,111

 

1,180,909

 

1,816,020

 

525,501

 

 

 

11/22/2006

 

300

Birmingham

 

AL

 

 

 

620,270

 

1,153,493

 

None

 

None

 

620,270

 

1,153,493

 

1,773,763

 

513,300

 

 

 

11/22/2006

 

300

Daphne

 

AL

 

 

 

876,139

 

1,629,123

 

None

 

None

 

876,139

 

1,629,123

 

2,505,262

 

724,956

 

 

 

11/22/2006

 

300

Decatur

 

AL

 

 

 

635,111

 

1,181,499

 

None

 

None

 

635,111

 

1,181,499

 

1,816,610

 

525,763

 

 

 

11/22/2006

 

300

Decatur

 

AL

 

 

 

1,100,000

 

1,336,744

 

None

 

None

 

1,100,000

 

1,336,744

 

2,436,744

 

42,330

 

 

 

3/29/2017

 

300

Dothan

 

AL

 

 

 

455,651

 

565,343

 

None

 

None

 

455,651

 

565,343

 

1,020,994

 

206,910

 

10/17/2008

 

6/10/2008

 

300

Foley

 

AL

 

 

 

870,031

 

1,617,357

 

None

 

None

 

870,031

 

1,617,357

 

2,487,388

 

719,720

 

 

 

11/22/2006

 

300

Gardendale

 

AL

 

 

 

610,055

 

1,134,554

 

None

 

None

 

610,055

 

1,134,554

 

1,744,609

 

504,538

 

 

 

11/22/2006

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hoover

 

AL

 

 

 

504,396

 

938,299

 

None

 

None

 

504,396

 

938,299

 

1,442,695

 

417,539

 

 

 

11/22/2006

 

300

Huntsville

 

AL

 

 

 

499,843

 

929,863

 

None

 

None

 

499,843

 

929,863

 

1,429,706

 

413,785

 

 

 

11/22/2006

 

300

Huntsville

 

AL

 

 

 

635,111

 

1,181,499

 

None

 

None

 

635,111

 

1,181,499

 

1,816,610

 

525,763

 

 

 

11/22/2006

 

300

Madison

 

AL

 

 

 

635,111

 

1,181,532

 

None

 

None

 

635,111

 

1,181,532

 

1,816,643

 

525,777

 

 

 

11/22/2006

 

300

Mobile

 

AL

 

 

 

635,111

 

1,181,499

 

None

 

None

 

635,111

 

1,181,499

 

1,816,610

 

525,763

 

 

 

11/22/2006

 

300

Mobile

 

AL

 

 

 

525,750

 

977,810

 

None

 

None

 

525,750

 

977,810

 

1,503,560

 

435,121

 

 

 

11/22/2006

 

300

Montgomery

 

AL

 

 

 

544,181

 

654,046

 

None

 

None

 

544,181

 

654,046

 

1,198,227

 

250,270

 

 

 

1/24/2008

 

300

Orange Beach

 

AL

 

 

 

630,244

 

1,172,036

 

None

 

None

 

630,244

 

1,172,036

 

1,802,280

 

521,552

 

 

 

11/22/2006

 

300

Pelham

 

AL

 

 

 

635,111

 

1,180,909

 

None

 

None

 

635,111

 

1,180,909

 

1,816,020

 

525,501

 

 

 

11/22/2006

 

300

Phenix City

 

AL

 

 

 

630,244

 

1,172,024

 

None

 

None

 

630,244

 

1,172,024

 

1,802,268

 

521,546

 

 

 

11/22/2006

 

300

Benton

 

AR

 

 

 

976,474

 

2,016,354

 

None

 

None

 

976,474

 

2,016,354

 

2,992,828

 

399,910

 

 

 

1/22/2013

 

300

Tucson

 

AZ

 

 

 

178,297

 

396,004

 

None

 

None

 

178,297

 

396,004

 

574,301

 

396,004

 

 

 

1/19/1990

 

300

Arvada

 

CO

 

 

 

301,489

 

931,092

 

None

 

None

 

301,489

 

931,092

 

1,232,581

 

637,836

 

9/22/2000

 

11/18/1999

 

300

Aurora

 

CO

 

 

 

221,691

 

492,382

 

None

 

None

 

221,691

 

492,382

 

714,073

 

492,382

 

 

 

1/29/1990

 

300

Aurora

 

CO

 

 

 

353,283

 

1,135,051

 

None

 

31,948

 

353,283

 

1,166,999

 

1,520,282

 

764,849

 

1/3/2001

 

3/10/2000

 

300

Colorado Springs

 

CO

 

 

 

280,193

 

622,317

 

None

 

None

 

280,193

 

622,317

 

902,510

 

622,317

 

 

 

1/23/1990

 

300

Colorado Springs

 

CO

 

 

 

192,988

 

433,542

 

None

 

None

 

192,988

 

433,542

 

626,530

 

428,686

 

 

 

5/20/1993

 

300

Denver

 

CO

 

 

 

688,292

 

1,331,224

 

None

 

None

 

688,292

 

1,331,224

 

2,019,516

 

798,509

 

1/10/2003

 

5/30/2002

 

300

Grand Junction

 

CO

 

 

 

1,121,415

 

2,315,649

 

None

 

None

 

1,121,415

 

2,315,649

 

3,437,064

 

459,270

 

 

 

1/22/2013

 

300

Westminster

 

CO

 

 

 

526,620

 

1,099,523

 

None

 

None

 

526,620

 

1,099,523

 

1,626,143

 

738,548

 

1/12/2001

 

1/18/2000

 

300

Destin

 

FL

 

 

 

1,034,411

 

1,922,591

 

None

 

None

 

1,034,411

 

1,922,591

 

2,957,002

 

855,549

 

 

 

11/22/2006

 

300

Fort Walton Beach

 

FL

 

 

 

635,111

 

1,181,032

 

None

 

None

 

635,111

 

1,181,032

 

1,816,143

 

525,555

 

 

 

11/22/2006

 

300

Fort Walton Beach

 

FL

 

 

 

635,111

 

1,181,032

 

None

 

None

 

635,111

 

1,181,032

 

1,816,143

 

525,555

 

 

 

11/22/2006

 

300

Lakeland

 

FL

 

 

 

500,000

 

645,402

 

None

 

None

 

500,000

 

645,402

 

1,145,402

 

498,224

 

6/4/1998

 

12/31/1997

 

300

Largo

 

FL

 

 

 

540,000

 

1,168,386

 

None

 

None

 

540,000

 

1,168,386

 

1,708,386

 

36,999

 

 

 

3/29/2017

 

300

Middleburg

 

FL

 

 

 

1,167,247

 

2,410,289

 

5,843

 

None

 

1,167,247

 

2,416,132

 

3,583,379

 

482,936

 

 

 

1/22/2013

 

300

Milton

 

FL

 

 

 

635,111

 

1,181,145

 

None

 

None

 

635,111

 

1,181,145

 

1,816,256

 

525,606

 

 

 

11/22/2006

 

300

Niceville

 

FL

 

 

 

920,803

 

1,711,621

 

None

 

None

 

920,803

 

1,711,621

 

2,632,424

 

761,667

 

 

 

11/22/2006

 

300

Orlando

 

FL

 

 

 

635,111

 

1,181,076

 

None

 

None

 

635,111

 

1,181,076

 

1,816,187

 

525,575

 

 

 

11/22/2006

 

300

Orlando

 

FL

 

 

 

630,244

 

1,172,023

 

None

 

None

 

630,244

 

1,172,023

 

1,802,267

 

521,546

 

 

 

11/22/2006

 

300

Oviedo

 

FL

 

 

 

971,996

 

1,806,780

 

None

 

None

 

971,996

 

1,806,780

 

2,778,776

 

804,013

 

 

 

11/22/2006

 

300

Pace

 

FL

 

 

 

630,244

 

1,171,993

 

None

 

None

 

630,244

 

1,171,993

 

1,802,237

 

521,533

 

 

 

11/22/2006

 

300

Panama City

 

FL

 

 

 

635,111

 

1,181,076

 

None

 

None

 

635,111

 

1,181,076

 

1,816,187

 

525,575

 

 

 

11/22/2006

 

300

Pensacola

 

FL

 

 

 

635,111

 

1,181,063

 

None

 

None

 

635,111

 

1,181,063

 

1,816,174

 

525,569

 

 

 

11/22/2006

 

300

Pensacola

 

FL

 

 

 

588,305

 

1,094,130

 

None

 

None

 

588,305

 

1,094,130

 

1,682,435

 

486,884

 

 

 

11/22/2006

 

300

Port Saint Lucie

 

FL

 

 

 

700,000

 

2,018,138

 

None

 

None

 

700,000

 

2,018,138

 

2,718,138

 

63,908

 

 

 

3/29/2017

 

300

Saint Cloud

 

FL

 

 

 

525,207

 

976,968

 

None

 

None

 

525,207

 

976,968

 

1,502,175

 

434,747

 

 

 

11/22/2006

 

300

Sanford

 

FL

 

 

 

630,244

 

1,172,023

 

None

 

None

 

630,244

 

1,172,023

 

1,802,267

 

521,546

 

 

 

11/22/2006

 

300

Tallahassee

 

FL

 

 

 

419,902

 

781,405

 

None

 

None

 

419,902

 

781,405

 

1,201,307

 

347,721

 

 

 

11/22/2006

 

300

Tallahassee

 

FL

 

 

 

611,916

 

1,137,986

 

None

 

None

 

611,916

 

1,137,986

 

1,749,902

 

506,400

 

 

 

11/22/2006

 

300

Tampa

 

FL

 

 

 

427,395

 

472,030

 

None

 

None

 

427,395

 

472,030

 

899,425

 

364,410

 

6/10/1998

 

12/5/1997

 

300

Union Park

 

FL

 

 

 

1,004,103

 

1,866,287

 

None

 

None

 

1,004,103

 

1,866,287

 

2,870,390

 

830,494

 

 

 

11/22/2006

 

300

New Smyrna Beach

 

FL

 

 

 

570,000

 

638,386

 

None

 

None

 

570,000

 

638,386

 

1,208,386

 

20,216

 

 

 

3/29/2017

 

300

Alpharetta

 

GA

 

 

 

630,244

 

1,171,870

 

None

 

None

 

630,244

 

1,171,870

 

1,802,114

 

521,478

 

 

 

11/22/2006

 

300

Atlanta

 

GA

 

 

 

55,840

 

258,889

 

16,005

 

14,141

 

55,840

 

289,035

 

344,875

 

282,392

 

 

 

11/27/1985

 

300

Canton

 

GA

 

 

 

1,010,000

 

1,352,903

 

None

 

None

 

1,010,000

 

1,352,903

 

2,362,903

 

191,661

 

 

 

6/30/2014

 

300

Columbus

 

GA

 

 

 

630,244

 

1,171,988

 

None

 

None

 

630,244

 

1,171,988

 

1,802,232

 

521,531

 

 

 

11/22/2006

 

300

Conyers

 

GA

 

 

 

531,935

 

1,180,296

 

None

 

None

 

531,935

 

1,180,296

 

1,712,231

 

741,305

 

3/28/2002

 

11/13/2001

 

300

Conyers

 

GA

 

 

 

635,111

 

1,181,027

 

None

 

None

 

635,111

 

1,181,027

 

1,816,138

 

525,553

 

 

 

11/22/2006

 

300

Douglasville

 

GA

 

 

 

795,842

 

1,643,361

 

None

 

None

 

795,842

 

1,643,361

 

2,439,203

 

325,933

 

 

 

1/22/2013

 

300

Duluth

 

GA

 

 

 

638,509

 

1,186,594

 

None

 

None

 

638,509

 

1,186,594

 

1,825,103

 

670,421

 

 

 

11/29/2003

 

300

Hiram

 

GA

 

 

 

635,111

 

1,181,017

 

None

 

None

 

635,111

 

1,181,017

 

1,816,128

 

525,548

 

 

 

11/22/2006

 

300

Kennesaw

 

GA

 

 

 

519,903

 

967,180

 

None

 

None

 

519,903

 

967,180

 

1,487,083

 

430,391

 

 

 

11/22/2006

 

300

Kennesaw

 

GA

 

 

 

659,964

 

1,827,997

 

None

 

None

 

659,964

 

1,827,997

 

2,487,961

 

362,553

 

 

 

1/22/2013

 

300

Lawrenceville

 

GA

 

 

 

635,111

 

1,181,137

 

None

 

None

 

635,111

 

1,181,137

 

1,816,248

 

525,602

 

 

 

11/22/2006

 

300

Lilburn

 

GA

 

 

 

994,894

 

1,807,565

 

None

 

None

 

994,894

 

1,807,565

 

2,802,459

 

358,500

 

 

 

1/22/2013

 

300

Marietta

 

GA

 

 

 

500,293

 

930,657

 

None

 

None

 

500,293

 

930,657

 

1,430,950

 

414,138

 

 

 

11/22/2006

 

300

McDonough

 

GA

 

 

 

635,111

 

1,181,032

 

None

 

None

 

635,111

 

1,181,032

 

1,816,143

 

525,555

 

 

 

11/22/2006

 

300

McDonough

 

GA

 

 

 

910,000

 

1,400,696

 

None

 

None

 

910,000

 

1,400,696

 

2,310,696

 

198,432

 

 

 

6/30/2014

 

300

Peachtree City

 

GA

 

 

 

625,316

 

1,162,827

 

None

 

None

 

625,316

 

1,162,827

 

1,788,143

 

517,454

 

 

 

11/22/2006

 

300

Roswell

 

GA

 

 

 

515,617

 

959,138

 

None

 

None

 

515,617

 

959,138

 

1,474,755

 

426,812

 

 

 

11/22/2006

 

300

Sandy Springs

 

GA

 

 

 

586,211

 

1,090,241

 

None

 

None

 

586,211

 

1,090,241

 

1,676,452

 

485,153

 

 

 

11/22/2006

 

300

Stockbridge

 

GA

 

 

 

632,128

 

1,175,478

 

None

 

None

 

632,128

 

1,175,478

 

1,807,606

 

523,084

 

 

 

11/22/2006

 

300

Union City

 

GA

 

 

 

970,000

 

938,386

 

None

 

None

 

970,000

 

938,386

 

1,908,386

 

29,716

 

 

 

3/29/2017

 

300

Aurora

 

IL

 

 

 

513,204

 

953,885

 

None

 

None

 

513,204

 

953,885

 

1,467,089

 

538,941

 

 

 

11/29/2003

 

300

Joliet

 

IL

 

 

 

452,267

 

840,716

 

None

 

None

 

452,267

 

840,716

 

1,292,983

 

475,000

 

 

 

11/29/2003

 

300

Lombard

 

IL

 

 

 

428,170

 

795,965

 

None

 

2,000

 

428,170

 

797,965

 

1,226,135

 

451,114

 

 

 

11/29/2003

 

300

Niles

 

IL

 

 

 

366,969

 

682,306

 

None

 

None

 

366,969

 

682,306

 

1,049,275

 

385,499

 

 

 

11/29/2003

 

300

Orland Park

 

IL

 

 

 

663,087

 

1,232,240

 

None

 

None

 

663,087

 

1,232,240

 

1,895,327

 

696,211

 

 

 

11/29/2003

 

300

Round Lake Beach

 

IL

 

 

 

472,132

 

236,585

 

None

 

None

 

472,132

 

236,585

 

708,717

 

147,864

 

 

 

5/14/2002

 

300

Vernon Hills

 

IL

 

 

 

524,948

 

975,668

 

None

 

None

 

524,948

 

975,668

 

1,500,616

 

551,249

 

 

 

11/29/2003

 

300

West Dundee

 

IL

 

 

 

530,835

 

986,628

 

None

 

None

 

530,835

 

986,628

 

1,517,463

 

557,441

 

 

 

11/29/2003

 

300

Overland Park

 

KS

 

 

 

1,101,841

 

2,047,067

 

None

 

None

 

1,101,841

 

2,047,067

 

3,148,908

 

1,156,589

 

 

 

11/29/2003

 

300

Wichita

 

KS

 

 

 

935,607

 

1,989,962

 

6,300

 

None

 

935,607

 

1,996,262

 

2,931,869

 

395,293

 

 

 

1/22/2013

 

300

Winchester

 

KY

 

 

 

355,474

 

929,177

 

20,045

 

22,464

 

355,474

 

971,686

 

1,327,160

 

747,163

 

 

 

6/30/1998

 

300

Baton Rouge

 

LA

 

 

 

1,158,316

 

2,391,847

 

None

 

None

 

1,158,316

 

2,391,847

 

3,550,163

 

474,383

 

 

 

1/22/2013

 

300

Allston

 

MA

 

 

 

576,505

 

1,071,520

 

None

 

None

 

576,505

 

1,071,520

 

1,648,025

 

605,403

 

 

 

11/29/2003

 

300

Billerica

 

MA

 

 

 

399,043

 

462,240

 

None

 

172

 

399,043

 

462,412

 

861,455

 

382,962

 

 

 

4/2/1997

 

300

Shrewsbury

 

MA

 

 

 

721,065

 

1,339,913

 

None

 

None

 

721,065

 

1,339,913

 

2,060,978

 

757,047

 

 

 

11/29/2003

 

300

Waltham

 

MA

 

 

 

338,955

 

630,279

 

None

 

None

 

338,955

 

630,279

 

969,234

 

356,104

 

 

 

11/29/2003

 

300

Weymouth

 

MA

 

 

 

752,234

 

1,397,799

 

None

 

None

 

752,234

 

1,397,799

 

2,150,033

 

789,752

 

 

 

11/29/2003

 

300

Woburn

 

MA

 

 

 

676,968

 

1,258,018

 

None

 

None

 

676,968

 

1,258,018

 

1,934,986

 

710,776

 

 

 

11/29/2003

 

300

Annapolis

 

MD

 

 

 

780,806

 

1,450,860

 

None

 

None

 

780,806

 

1,450,860

 

2,231,666

 

819,732

 

 

 

11/29/2003

 

300

Bowie

 

MD

 

 

 

734,558

 

1,364,970

 

None

 

None

 

734,558

 

1,364,970

 

2,099,528

 

771,204

 

 

 

11/29/2003

 

300

Capitol Heights

 

MD

 

 

 

701,705

 

1,303,958

 

None

 

None

 

701,705

 

1,303,958

 

2,005,663

 

736,732

 

 

 

11/29/2003

 

300

Germantown

 

MD

 

 

 

808,296

 

1,501,913

 

None

 

None

 

808,296

 

1,501,913

 

2,310,209

 

848,577

 

 

 

11/29/2003

 

300

Waldorf

 

MD

 

 

 

427,033

 

793,854

 

None

 

None

 

427,033

 

793,854

 

1,220,887

 

448,523

 

 

 

11/29/2003

 

300

Eagan

 

MN

 

 

 

902,443

 

845,536

 

None

 

None

 

902,443

 

845,536

 

1,747,979

 

655,316

 

6/19/1998

 

2/20/1998

 

300

Bridgeton

 

MO

 

 

 

1,108,074

 

    

 

None

 

None

 

1,108,074

 

-     

 

1,108,074

 

-     

 

 

 

12/15/2017

 

N/A

Grandview

 

MO

 

 

 

347,150

 

711,024

 

None

 

None

 

347,150

 

711,024

 

1,058,174

 

548,707

 

8/20/1998

 

2/20/1998

 

300

Independence

 

MO

 

 

 

721,020

 

1,339,829

 

None

 

None

 

721,020

 

1,339,829

 

2,060,849

 

756,999

 

 

 

11/29/2003

 

300

Lake Saint Louis

 

MO

 

 

 

1,222,303

 

2,019,908

 

57,356

 

None

 

1,222,303

 

2,077,264

 

3,299,567

 

404,080

 

 

 

1/22/2013

 

300

St. Louis

 

MO

 

 

 

386,112

 

717,856

 

None

 

None

 

386,112

 

717,856

 

1,103,968

 

405,585

 

 

 

11/29/2003

 

300

Charlotte

 

NC

 

 

 

508,100

 

457,295

 

None

 

None

 

508,100

 

457,295

 

965,395

 

267,517

 

 

 

5/27/2003

 

300

Charlotte

 

NC

 

 

 

181,662

 

338,164

 

None

 

None

 

181,662

 

338,164

 

519,826

 

191,059

 

 

 

11/29/2003

 

300

Clemmons

 

NC

 

 

 

630,000

 

1,100,160

 

None

 

None

 

630,000

 

1,100,160

 

1,730,160

 

445,565

 

 

 

11/9/2007

 

300

Jamestown

 

NC

 

 

 

650,000

 

857,823

 

None

 

None

 

650,000

 

857,823

 

1,507,823

 

347,418

 

 

 

11/9/2007

 

300

Matthews

 

NC

 

 

 

489,063

 

909,052

 

None

 

None

 

489,063

 

909,052

 

1,398,115

 

513,611

 

 

 

11/29/2003

 

300

Omaha

 

NE

 

 

 

253,128

 

810,922

 

None

 

32

 

253,128

 

810,954

 

1,064,082

 

593,405

 

7/22/1999

 

3/4/1999

 

300

Manchester

 

NH

 

 

 

722,532

 

1,342,636

 

None

 

None

 

722,532

 

1,342,636

 

2,065,168

 

758,585

 

 

 

11/29/2003

 

300

Newington

 

NH

 

 

 

690,753

 

1,283,624

 

None

 

None

 

690,753

 

1,283,624

 

1,974,377

 

725,244

 

 

 

11/29/2003

 

300

Salem

 

NH

 

 

 

597,833

 

1,111,059

 

None

 

None

 

597,833

 

1,111,059

 

1,708,892

 

627,744

 

 

 

11/29/2003

 

300

Deptford

 

NJ

 

 

 

619,376

 

1,151,062

 

None

 

None

 

619,376

 

1,151,062

 

1,770,438

 

650,346

 

 

 

11/29/2003

 

300

Maple Shade

 

NJ

 

 

 

508,285

 

944,750

 

None

 

None

 

508,285

 

944,750

 

1,453,035

 

533,780

 

 

 

11/29/2003

 

300

Northfield

 

NJ

 

 

 

1,364,997

 

2,361,337

 

None

 

None

 

1,364,997

 

2,361,337

 

3,726,334

 

468,332

 

 

 

1/22/2013

 

300

Albuquerque

 

NM

 

 

 

1,210,015

 

2,498,602

 

None

 

None

 

1,210,015

 

2,498,602

 

3,708,617

 

495,556

 

 

 

1/22/2013

 

300

Akron

 

OH

 

 

 

242,133

 

450,467

 

None

 

None

 

242,133

 

450,467

 

692,600

 

254,510

 

 

 

11/29/2003

 

300

Cambridge

 

OH

 

 

 

103,368

 

192,760

 

None

 

None

 

103,368

 

192,760

 

296,128

 

108,905

 

 

 

11/29/2003

 

300

Canton

 

OH

 

 

 

337,161

 

626,948

 

None

 

None

 

337,161

 

626,948

 

964,109

 

354,222

 

 

 

11/29/2003

 

300

Cleveland

 

OH

 

 

 

582,107

 

1,081,848

 

None

 

None

 

582,107

 

1,081,848

 

1,663,955

 

611,240

 

 

 

11/29/2003

 

300

Columbus

 

OH

 

 

 

385,878

 

717,422

 

None

 

None

 

385,878

 

717,422

 

1,103,300

 

405,340

 

 

 

11/29/2003

 

300

Edmond

 

OK

 

 

 

1,240,403

 

2,561,350

 

None

 

None

 

1,240,403

 

2,561,350

 

3,801,753

 

508,001

 

 

 

1/22/2013

 

300

Oklahoma City

 

OK

 

 

 

509,370

 

752,691

 

None

 

None

 

509,370

 

752,691

 

1,262,061

 

558,417

 

4/14/1999

 

9/24/1998

 

300

Oklahoma City

 

OK

 

 

 

1,127,056

 

2,327,297

 

15,950

 

None

 

1,127,056

 

2,343,247

 

3,470,303

 

462,528

 

 

 

1/22/2013

 

300

 



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owasso

 

OK

 

 

 

1,078,296

 

2,226,612

 

5,698

 

None

 

1,078,296

 

2,232,310

 

3,310,606

 

447,309

 

 

 

1/22/2013

 

300

Tulsa

 

OK

 

 

 

964,367

 

1,996,137

 

5,993

 

None

 

964,367

 

2,002,130

 

2,966,497

 

400,938

 

 

 

1/22/2013

 

300

Yukon

 

OK

 

 

 

1,173,070

 

2,422,313

 

10,618

 

None

 

1,173,070

 

2,432,931

 

3,606,001

 

488,074

 

 

 

1/22/2013

 

300

Greensburg

 

PA

 

 

 

594,891

 

1,105,589

 

None

 

None

 

594,891

 

1,105,589

 

1,700,480

 

624,654

 

 

 

11/29/2003

 

300

Lancaster

 

PA

 

 

 

431,050

 

801,313

 

None

 

None

 

431,050

 

801,313

 

1,232,363

 

452,738

 

 

 

11/29/2003

 

300

Mechanicsburg

 

PA

 

 

 

455,854

 

847,377

 

None

 

None

 

455,854

 

847,377

 

1,303,231

 

478,764

 

 

 

11/29/2003

 

300

Monroeville

 

PA

 

 

 

723,660

 

1,344,733

 

None

 

None

 

723,660

 

1,344,733

 

2,068,393

 

759,770

 

 

 

11/29/2003

 

300

Philadelphia

 

PA

 

 

 

334,939

 

622,821

 

None

 

None

 

334,939

 

622,821

 

957,760

 

351,890

 

 

 

11/29/2003

 

300

Pittsburgh

 

PA

 

 

 

384,756

 

715,339

 

None

 

None

 

384,756

 

715,339

 

1,100,095

 

404,162

 

 

 

11/29/2003

 

300

York

 

PA

 

 

 

389,291

 

723,760

 

None

 

None

 

389,291

 

723,760

 

1,113,051

 

408,920

 

 

 

11/29/2003

 

300

East Providence

 

RI

 

 

 

580,000

 

1,459,272

 

None

 

None

 

580,000

 

1,459,272

 

2,039,272

 

46,210

 

 

 

3/29/2017

 

300

Columbia

 

SC

 

 

 

343,785

 

295,001

 

183,130

 

None

 

343,785

 

478,131

 

821,916

 

425,429

 

5/27/1997

 

2/7/1997

 

300

Clover

 

SC

 

 

 

610,000

 

1,360,347

 

None

 

None

 

610,000

 

1,360,347

 

1,970,347

 

43,078

 

 

 

3/29/2017

 

300

Little River

 

SC

 

 

 

340,000

 

868,386

 

None

 

None

 

340,000

 

868,386

 

1,208,386

 

27,499

 

 

 

3/29/2017

 

300

Sioux Falls

 

SD

 

 

 

332,979

 

498,108

 

None

 

None

 

332,979

 

498,108

 

831,087

 

386,048

 

6/1/1999

 

2/27/1998

 

300

Goodlettsville

 

TN

 

 

 

601,306

 

1,117,504

 

None

 

None

 

601,306

 

1,117,504

 

1,718,810

 

631,385

 

 

 

11/29/2003

 

300

Hermitage

 

TN

 

 

 

560,443

 

1,011,799

 

None

 

None

 

560,443

 

1,011,799

 

1,572,242

 

623,739

 

10/15/2001

 

5/9/2001

 

300

Allen

 

TX

 

 

 

1,162,614

 

2,400,722

 

46,748

 

None

 

1,162,614

 

2,447,470

 

3,610,084

 

493,089

 

 

 

1/22/2013

 

300

Arlington

 

TX

 

 

 

599,558

 

1,114,256

 

None

 

None

 

599,558

 

1,114,256

 

1,713,814

 

629,550

 

 

 

11/29/2003

 

300

Austin

 

TX

 

 

 

185,454

 

411,899

 

None

 

None

 

185,454

 

411,899

 

597,353

 

411,899

 

 

 

2/6/1990

 

300

Austin

 

TX

 

 

 

710,485

 

1,320,293

 

None

 

None

 

710,485

 

1,320,293

 

2,030,778

 

745,961

 

 

 

11/29/2003

 

300

Austin

 

TX

 

 

 

590,828

 

1,098,073

 

None

 

None

 

590,828

 

1,098,073

 

1,688,901

 

620,406

 

 

 

11/29/2003

 

300

Austin

 

TX

 

 

 

569,909

 

1,059,195

 

None

 

None

 

569,909

 

1,059,195

 

1,629,104

 

598,441

 

 

 

11/29/2003

 

300

Austin

 

TX

 

 

 

532,497

 

989,715

 

None

 

None

 

532,497

 

989,715

 

1,522,212

 

559,185

 

 

 

11/29/2003

 

300

Austin

 

TX

 

 

 

1,066,021

 

2,201,264

 

None

 

None

 

1,066,021

 

2,201,264

 

3,267,285

 

436,584

 

 

 

1/22/2013

 

300

Carrollton

 

TX

 

 

 

568,401

 

1,056,394

 

None

 

None

 

568,401

 

1,056,394

 

1,624,795

 

596,858

 

 

 

11/29/2003

 

300

Conroe

 

TX

 

 

 

396,068

 

736,346

 

None

 

None

 

396,068

 

736,346

 

1,132,414

 

416,031

 

 

 

11/29/2003

 

300

Crowley

 

TX

 

 

 

1,103,218

 

2,278,074

 

None

 

None

 

1,103,218

 

2,278,074

 

3,381,292

 

451,818

 

 

 

1/22/2013

 

300

Dallas

 

TX

 

 

 

191,267

 

424,811

 

None

 

None

 

191,267

 

424,811

 

616,078

 

424,811

 

 

 

1/26/1990

 

300

Fort Worth

 

TX

 

 

 

543,950

 

1,010,984

 

None

 

None

 

543,950

 

1,010,984

 

1,554,934

 

571,202

 

 

 

11/29/2003

 

300

Garland

 

TX

 

 

 

242,887

 

539,461

 

33,982

 

26,371

 

242,887

 

599,814

 

842,701

 

557,721

 

 

 

1/19/1990

 

300

Houston

 

TX

 

 

 

151,018

 

335,417

 

None

 

58

 

151,018

 

335,475

 

486,493

 

335,456

 

 

 

1/25/1990

 

300

Houston

 

TX

 

 

 

392,113

 

729,002

 

None

 

None

 

392,113

 

729,002

 

1,121,115

 

411,882

 

 

 

11/29/2003

 

300

Houston

 

TX

 

 

 

1,030,379

 

1,914,353

 

None

 

None

 

1,030,379

 

1,914,353

 

2,944,732

 

1,081,605

 

 

 

11/29/2003

 

300

Houston

 

TX

 

 

 

619,101

 

1,150,551

 

None

 

None

 

619,101

 

1,150,551

 

1,769,652

 

650,057

 

 

 

11/29/2003

 

300

Houston

 

TX

 

 

 

642,495

 

1,193,997

 

None

 

None

 

642,495

 

1,193,997

 

1,836,492

 

674,604

 

 

 

11/29/2003

 

300

Houston

 

TX

 

 

 

872,866

 

1,621,829

 

None

 

None

 

872,866

 

1,621,829

 

2,494,695

 

916,329

 

 

 

11/29/2003

 

300

Houston

 

TX

 

 

 

1,100,000

 

613,509

 

None

 

None

 

1,100,000

 

613,509

 

1,713,509

 

19,428

 

 

 

3/29/2017

 

300

Humble

 

TX

 

 

 

612,414

 

1,138,132

 

None

 

None

 

612,414

 

1,138,132

 

1,750,546

 

643,041

 

 

 

11/29/2003

 

300

League City

 

TX

 

 

 

1,032,003

 

2,131,018

 

None

 

None

 

1,032,003

 

2,131,018

 

3,163,021

 

422,652

 

 

 

1/22/2013

 

300

Leon Valley

 

TX

 

 

 

178,221

 

395,834

 

None

 

None

 

178,221

 

395,834

 

574,055

 

395,834

 

 

 

1/17/1990

 

300

Leon Valley

 

TX

 

 

 

529,967

 

985,046

 

None

 

None

 

529,967

 

985,046

 

1,515,013

 

556,546

 

 

 

11/29/2003

 

300

Mesquite

 

TX

 

 

 

591,538

 

1,099,363

 

None

 

None

 

591,538

 

1,099,363

 

1,690,901

 

621,136

 

 

 

11/29/2003

 

300

Pasadena

 

TX

 

 

 

107,391

 

238,519

 

None

 

58

 

107,391

 

238,577

 

345,968

 

238,558

 

 

 

1/24/1990

 

300

Pasedena

 

TX

 

 

 

147,535

 

274,521

 

10,646

 

11,252

 

147,535

 

296,419

 

443,954

 

219,420

 

 

 

12/31/1998

 

300

Pearland

 

TX

 

 

 

935,739

 

1,932,240

 

None

 

None

 

935,739

 

1,932,240

 

2,867,979

 

383,228

 

 

 

1/22/2013

 

300

Plano

 

TX

 

 

 

187,564

 

417,157

 

700

 

91

 

187,564

 

417,948

 

605,512

 

417,119

 

 

 

1/18/1990

 

300

Plano

 

TX

 

 

 

494,407

 

918,976

 

None

 

None

 

494,407

 

918,976

 

1,413,383

 

519,217

 

 

 

11/29/2003

 

300

Richardson

 

TX

 

 

 

555,188

 

1,031,855

 

None

 

None

 

555,188

 

1,031,855

 

1,587,043

 

582,994

 

 

 

11/29/2003

 

300

Rockwall

 

TX

 

 

 

1,178,158

 

2,432,819

 

None

 

None

 

1,178,158

 

2,432,819

 

3,610,977

 

482,509

 

 

 

1/22/2013

 

300

San Antonio

 

TX

 

 

 

245,164

 

544,518

 

None

 

None

 

245,164

 

544,518

 

789,682

 

544,518

 

 

 

2/14/1990

 

300

San Antonio

 

TX

 

 

 

688,249

 

1,278,967

 

None

 

None

 

688,249

 

1,278,967

 

1,967,216

 

722,613

 

 

 

11/29/2003

 

300

Stafford

 

TX

 

 

 

706,786

 

1,313,395

 

None

 

None

 

706,786

 

1,313,395

 

2,020,181

 

742,064

 

 

 

11/29/2003

 

300

Waco

 

TX

 

 

 

401,999

 

747,362

 

None

 

None

 

401,999

 

747,362

 

1,149,361

 

422,255

 

 

 

11/29/2003

 

300

Weatherford

 

TX

 

 

 

971,317

 

2,005,706

 

None

 

None

 

971,317

 

2,005,706

 

2,977,023

 

397,798

 

 

 

1/22/2013

 

300

Webster

 

TX

 

 

 

600,261

 

1,115,563

 

None

 

None

 

600,261

 

1,115,563

 

1,715,824

 

630,289

 

 

 

11/29/2003

 

300

Bountiful

 

UT

 

 

 

183,750

 

408,115

 

None

 

None

 

183,750

 

408,115

 

591,865

 

408,115

 

 

 

1/30/1990

 

300

Alexandria

 

VA

 

 

 

542,791

 

1,008,832

 

None

 

None

 

542,791

 

1,008,832

 

1,551,623

 

569,986

 

 

 

11/29/2003

 

300

Alexandria

 

VA

 

 

 

592,698

 

1,101,517

 

None

 

None

 

592,698

 

1,101,517

 

1,694,215

 

622,353

 

 

 

11/29/2003

 

300

Chesapeake

 

VA

 

 

 

770,000

 

1,112,334

 

None

 

None

 

770,000

 

1,112,334

 

1,882,334

 

450,495

 

 

 

11/9/2007

 

300

Chester

 

VA

 

 

 

1,204,525

 

2,487,265

 

None

 

None

 

1,204,525

 

2,487,265

 

3,691,790

 

493,308

 

 

 

1/22/2013

 

300

Lynchburg

 

VA

 

 

 

342,751

 

637,329

 

None

 

None

 

342,751

 

637,329

 

980,080

 

360,087

 

 

 

11/29/2003

 

300

Virginia Beach

 

VA

 

 

 

780,000

 

1,026,384

 

375

 

None

 

780,000

 

1,026,759

 

1,806,759

 

415,693

 

 

 

11/9/2007

 

300

Woodbridge

 

VA

 

 

 

774,854

 

1,439,806

 

None

 

None

 

774,854

 

1,439,806

 

2,214,660

 

813,486

 

 

 

11/29/2003

 

300

Lakewood

 

WA

 

 

 

187,111

 

415,579

 

None

 

None

 

187,111

 

415,579

 

602,690

 

415,579

 

 

 

1/25/1990

 

300

Brown Deer

 

WI

 

 

 

257,408

 

802,141

 

None

 

None

 

257,408

 

802,141

 

1,059,549

 

611,027

 

12/15/1998

 

7/16/1998

 

300

Delafield

 

WI

 

 

 

324,574

 

772,702

 

None

 

None

 

324,574

 

772,702

 

1,097,276

 

564,706

 

7/29/1999

 

2/26/1999

 

300

Madison

 

WI

 

 

 

452,630

 

811,977

 

None

 

None

 

452,630

 

811,977

 

1,264,607

 

623,925

 

10/20/1998

 

4/7/1998

 

300

Milwaukee

 

WI

 

 

 

1,304,098

 

2,692,877

 

None

 

None

 

1,304,098

 

2,692,877

 

3,996,975

 

534,087

 

 

 

1/22/2013

 

300

Oak Creek

 

WI

 

 

 

420,465

 

852,408

 

None

 

None

 

420,465

 

852,408

 

1,272,873

 

654,993

 

8/7/1998

 

3/20/1998

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beverages

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Calistoga

 

CA

 

 

 

12,677,285

 

2,750,715

 

None

 

None

 

12,677,285

 

2,750,715

 

15,428,000

 

847,828

 

 

 

6/25/2010

 

300

Calistoga

 

CA

 

 

 

5,445,030

 

21,154,970

 

None

 

None

 

5,445,030

 

21,154,970

 

26,600,000

 

6,381,749

 

 

 

6/25/2010

 

300

Calistoga

 

CA

 

 

 

6,039,131

 

1,576,869

 

None

 

None

 

6,039,131

 

1,576,869

 

7,616,000

 

475,689

 

 

 

6/25/2010

 

300

Calistoga

 

CA

 

 

 

4,988,527

 

1,999,473

 

None

 

None

 

4,988,527

 

1,999,473

 

6,988,000

 

606,540

 

 

 

6/25/2010

 

300

Calistoga

 

CA

 

 

 

8,146,907

 

2,067,093

 

None

 

None

 

8,146,907

 

2,067,093

 

10,214,000

 

623,573

 

 

 

6/25/2010

 

300

Calistoga

 

CA

 

 

 

12,675,172

 

4,907,828

 

None

 

None

 

12,675,172

 

4,907,828

 

17,583,000

 

1,483,733

 

 

 

6/25/2010

 

300

Calistoga

 

CA

 

 

 

45,184,528

 

10,437,472

 

None

 

None

 

45,184,528

 

10,437,472

 

55,622,000

 

3,157,051

 

 

 

6/25/2010

 

300

Calistoga

 

CA

 

 

 

10,630,191

 

5,580,929

 

None

 

None

 

10,630,191

 

5,580,929

 

16,211,120

 

1,573,757

 

 

 

12/15/2010

 

300

Calistoga

 

CA

 

 

 

6,860,862

 

524,117

 

None

 

None

 

6,860,862

 

524,117

 

7,384,979

 

126,662

 

 

 

12/15/2011

 

300

Napa

 

CA

 

 

 

6,000,000

 

25,000,000

 

None

 

None

 

6,000,000

 

25,000,000

 

31,000,000

 

7,541,667

 

 

 

6/25/2010

 

300

Napa

 

CA

 

 

 

11,253,989

 

2,846,011

 

None

 

None

 

11,253,989

 

2,846,011

 

14,100,000

 

865,278

 

 

 

6/25/2010

 

300

Napa

 

CA

 

 

 

17,590,091

 

5,898,149

 

None

 

None

 

17,590,091

 

5,898,149

 

23,488,240

 

1,855,238

 

 

 

6/25/2010

 

300

Napa

 

CA

 

 

 

23,471,336

 

6,589,664

 

None

 

None

 

23,471,336

 

6,589,664

 

30,061,000

 

1,999,902

 

 

 

6/25/2010

 

300

Napa

 

CA

 

 

 

10,777,485

 

390,515

 

None

 

None

 

10,777,485

 

390,515

 

11,168,000

 

121,834

 

 

 

9/17/2010

 

300

Napa

 

CA

 

 

 

4,675,262

 

298,928

 

None

 

None

 

4,675,262

 

298,928

 

4,974,190

 

84,198

 

 

 

12/15/2010

 

300

Paicines

 

CA

 

 

 

12,058,127

 

1,607,783

 

None

 

None

 

12,058,127

 

1,607,783

 

13,665,910

 

589,087

 

 

 

12/15/2010

 

300

Saint Helena

 

CA

 

 

 

15,254,700

 

4,150,300

 

None

 

None

 

15,254,700

 

4,150,300

 

19,405,000

 

1,274,892

 

 

 

6/25/2010

 

300

Shreveport

 

LA

 

 

 

1,320,003

 

8,130,438

 

None

 

147

 

1,320,003

 

8,130,585

 

9,450,588

 

2,181,815

 

 

 

4/22/2011

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Book stores

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tampa

 

FL

 

 

 

998,250

 

3,696,707

 

129,751

 

79

 

998,250

 

3,826,537

 

4,824,787

 

3,120,491

 

 

 

3/11/1997

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Child care

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hoover

 

AL

 

 

 

63,800

 

295,791

 

58,263

 

16,414

 

63,800

 

370,468

 

434,268

 

328,430

 

 

 

10/31/1984

 

300

Conway

 

AR

 

 

 

300,000

 

1,200,000

 

None

 

None

 

300,000

 

1,200,000

 

1,500,000

 

18,000

 

 

 

8/29/2017

 

300

Conway

 

AR

 

 

 

580,000

 

785,000

 

None

 

None

 

580,000

 

785,000

 

1,365,000

 

11,775

 

 

 

8/29/2017

 

300

Avondale

 

AZ

 

 

 

242,723

 

1,129,139

 

None

 

None

 

242,723

 

1,129,139

 

1,371,862

 

837,531

 

4/20/1999

 

7/28/1998

 

300

Chandler

 

AZ

 

 

 

291,720

 

647,923

 

None

 

None

 

291,720

 

647,923

 

939,643

 

647,923

 

 

 

12/11/1987

 

300

Chandler

 

AZ

 

 

 

271,695

 

603,446

 

9,758

 

19,469

 

271,695

 

632,673

 

904,368

 

628,973

 

 

 

12/14/1987

 

300

Mesa

 

AZ

 

 

 

308,951

 

1,025,612

 

None

 

None

 

308,951

 

1,025,612

 

1,334,563

 

750,443

 

7/26/1999

 

1/13/1999

 

300

Phoenix

 

AZ

 

 

 

260,719

 

516,181

 

52,737

 

32,125

 

260,719

 

601,043

 

861,762

 

548,523

 

 

 

12/26/1990

 

300

Scottsdale

 

AZ

 

 

 

291,993

 

648,529

 

None

 

None

 

291,993

 

648,529

 

940,522

 

648,529

 

 

 

12/14/1987

 

300

Scottsdale

 

AZ

 

 

 

264,504

 

587,471

 

None

 

27,467

 

264,504

 

614,938

 

879,442

 

614,939

 

 

 

6/29/1990

 

300

Tempe

 

AZ

 

 

 

292,200

 

648,989

 

None

 

164

 

292,200

 

649,153

 

941,353

 

649,153

 

 

 

3/10/1988

 

300

Tucson

 

AZ

 

 

 

283,500

 

546,878

 

7,228

 

299

 

283,500

 

554,405

 

837,905

 

547,869

 

 

 

9/29/1988

 

300

Calabasas

 

CA

 

 

 

156,430

 

725,248

 

100,838

 

58,367

 

156,430

 

884,453

 

1,040,883

 

863,579

 

 

 

9/26/1985

 

300

Carmichael

 

CA

 

 

 

131,035

 

607,507

 

80,368

 

21,673

 

131,035

 

709,548

 

840,583

 

674,021

 

 

 

8/22/1986

 

300

Chino

 

CA

 

 

 

155,000

 

634,071

 

None

 

32,148

 

155,000

 

666,219

 

821,219

 

653,262

 

 

 

10/6/1983

 

180

Chula Vista

 

CA

 

 

 

350,563

 

778,614

 

None

 

43,353

 

350,563

 

821,967

 

1,172,530

 

821,967

 

 

 

10/30/1987

 

300

El Cajon

 

CA

 

 

 

157,804

 

731,621

 

2,540

 

44,802

 

157,804

 

778,963

 

936,767

 

778,000

 

 

 

12/19/1985

 

300

Escondido

 

CA

 

 

 

276,286

 

613,638

 

5,000

 

44,375

 

276,286

 

663,013

 

939,299

 

662,120

 

 

 

12/31/1987

 

300

Folsom

 

CA

 

 

 

281,563

 

625,363

 

None

 

None

 

281,563

 

625,363

 

906,926

 

625,363

 

 

 

10/23/1987

 

300

 



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gold River

 

CA

 

 

 

276,328

 

613,733

 

24,967

 

None

 

276,328

 

638,700

 

915,028

 

637,016

 

 

 

3/22/1989

 

300

Mission Viejo

 

CA

 

 

 

353,891

 

744,367

 

12,500

 

None

 

353,891

 

756,867

 

1,110,758

 

745,635

 

 

 

6/24/1993

 

300

Oceanside

 

CA

 

 

 

145,568

 

674,889

 

76,014

 

51,857

 

145,568

 

802,760

 

948,328

 

694,859

 

 

 

12/23/1985

 

300

Palmdale

 

CA

 

 

 

249,490

 

554,125

 

9,864

 

None

 

249,490

 

563,989

 

813,479

 

563,989

 

 

 

9/14/1988

 

300

Rancho Cucamonga

 

CA

 

 

 

471,733

 

1,047,739

 

292,673

 

170

 

471,733

 

1,340,582

 

1,812,315

 

1,143,405

 

 

 

12/30/1987

 

300

Simi Valley

 

CA

 

 

 

208,585

 

967,055

 

79,082

 

108

 

208,585

 

1,046,245

 

1,254,830

 

1,026,946

 

 

 

12/20/1985

 

300

Valencia

 

CA

 

 

 

301,295

 

669,185

 

70,470

 

46

 

301,295

 

739,701

 

1,040,996

 

724,791

 

 

 

6/23/1988

 

300

Walnut

 

CA

 

 

 

217,365

 

1,007,753

 

57,287

 

51,049

 

217,365

 

1,116,089

 

1,333,454

 

1,063,627

 

 

 

8/22/1986

 

300

Aurora

 

CO

 

 

 

287,000

 

637,440

 

20,313

 

18,188

 

287,000

 

675,941

 

962,941

 

663,207

 

 

 

12/31/1987

 

300

Broomfield

 

CO

 

 

 

155,306

 

344,941

 

25,000

 

82

 

155,306

 

370,023

 

525,329

 

368,420

 

 

 

3/15/1988

 

300

Colorado Springs

 

CO

 

 

 

58,400

 

271,217

 

25,000

 

82

 

58,400

 

296,299

 

354,699

 

293,604

 

 

 

12/22/1982

 

180

Fort Collins

 

CO

 

 

 

55,200

 

256,356

 

15,030

 

79

 

55,200

 

271,465

 

326,665

 

262,635

 

 

 

12/22/1982

 

180

Littleton

 

CO

 

 

 

161,617

 

358,956

 

None

 

82

 

161,617

 

359,038

 

520,655

 

359,038

 

 

 

12/10/1987

 

300

Longmont

 

CO

 

 

 

115,592

 

535,931

 

None

 

71

 

115,592

 

536,002

 

651,594

 

536,002

 

 

 

3/25/1986

 

300

Parker

 

CO

 

 

 

153,551

 

341,042

 

None

 

82

 

153,551

 

341,124

 

494,675

 

341,124

 

 

 

10/19/1987

 

300

Westminster

 

CO

 

 

 

306,387

 

695,737

 

170,091

 

11,233

 

306,387

 

877,061

 

1,183,448

 

732,054

 

 

 

9/27/1989

 

300

Bradenton

 

FL

 

 

 

160,060

 

355,501

 

25,000

 

79

 

160,060

 

380,580

 

540,640

 

378,678

 

 

 

5/5/1988

 

300

Clearwater

 

FL

 

 

 

42,223

 

269,380

 

None

 

79

 

42,223

 

269,459

 

311,682

 

269,459

 

 

 

12/22/1981

 

180

Jacksonville

 

FL

 

 

 

48,000

 

243,060

 

None

 

None

 

48,000

 

243,060

 

291,060

 

243,060

 

 

 

12/22/1981

 

180

Jacksonville

 

FL

 

 

 

184,800

 

410,447

 

22,872

 

None

 

184,800

 

433,319

 

618,119

 

430,319

 

 

 

3/30/1989

 

300

Margate

 

FL

 

 

 

66,686

 

309,183

 

None

 

None

 

66,686

 

309,183

 

375,869

 

309,183

 

 

 

12/16/1986

 

300

Melbourne

 

FL

 

 

 

256,439

 

549,345

 

None

 

79

 

256,439

 

549,424

 

805,863

 

544,581

 

 

 

4/16/1993

 

300

Niceville

 

FL

 

 

 

73,696

 

341,688

 

None

 

None

 

73,696

 

341,688

 

415,384

 

341,688

 

 

 

12/3/1986

 

300

Orlando

 

FL

 

 

 

68,001

 

313,922

 

None

 

140

 

68,001

 

314,062

 

382,063

 

313,994

 

 

 

9/4/1985

 

300

Orlando

 

FL

 

 

 

159,177

 

353,538

 

None

 

154

 

159,177

 

353,692

 

512,869

 

353,691

 

 

 

7/2/1987

 

300

Oviedo

 

FL

 

 

 

166,409

 

369,598

 

38,918

 

19,157

 

166,409

 

427,673

 

594,082

 

382,988

 

 

 

11/20/1987

 

300

Panama City

 

FL

 

 

 

69,500

 

244,314

 

82,701

 

None

 

69,500

 

327,015

 

396,515

 

296,885

 

 

 

6/15/1982

 

180

Pensacola

 

FL

 

 

 

147,000

 

326,492

 

20,000

 

None

 

147,000

 

346,492

 

493,492

 

340,304

 

 

 

3/28/1989

 

300

Royal Palm Beach

 

FL

 

 

 

194,193

 

431,309

 

25,000

 

None

 

194,193

 

456,309

 

650,502

 

452,004

 

 

 

11/15/1988

 

300

Saint Augustine

 

FL

 

 

 

44,800

 

213,040

 

23,090

 

None

 

44,800

 

236,130

 

280,930

 

229,943

 

 

 

12/22/1981

 

180

Sunrise

 

FL

 

 

 

245,000

 

533,280

 

92,266

 

153

 

245,000

 

625,699

 

870,699

 

602,621

 

 

 

5/25/1989

 

300

Tampa

 

FL

 

 

 

53,385

 

199,846

 

None

 

154

 

53,385

 

200,000

 

253,385

 

200,000

 

 

 

12/22/1981

 

180

Dallas

 

GA

 

 

 

150,000

 

1,467,000

 

None

 

None

 

150,000

 

1,467,000

 

1,617,000

 

17,115

 

 

 

9/29/2017

 

300

Dallas

 

GA

 

 

 

480,000

 

2,068,000

 

None

 

None

 

480,000

 

2,068,000

 

2,548,000

 

24,127

 

 

 

9/29/2017

 

300

Duluth

 

GA

 

 

 

310,000

 

1,040,008

 

None

 

None

 

310,000

 

1,040,008

 

1,350,008

 

757,522

 

8/25/1999

 

6/7/1999

 

300

Ellenwood

 

GA

 

 

 

119,678

 

275,414

 

58,545

 

272

 

119,678

 

334,231

 

453,909

 

309,767

 

 

 

11/16/1988

 

300

Hiram

 

GA

 

 

 

100,000

 

2,252,000

 

None

 

None

 

100,000

 

2,252,000

 

2,352,000

 

26,273

 

 

 

9/29/2017

 

300

Lawrenceville

 

GA

 

 

 

141,449

 

314,161

 

156,426

 

14,612

 

141,449

 

485,199

 

626,648

 

435,919

 

 

 

7/7/1988

 

300

Lithia Springs

 

GA

 

 

 

187,444

 

363,358

 

None

 

84

 

187,444

 

363,442

 

550,886

 

363,442

 

 

 

12/28/1989

 

300

Lithonia

 

GA

 

 

 

239,715

 

524,459

 

24,410

 

380

 

239,715

 

549,249

 

788,964

 

540,909

 

 

 

8/20/1991

 

300

Marietta

 

GA

 

 

 

148,620

 

330,090

 

25,000

 

None

 

148,620

 

355,090

 

503,710

 

353,514

 

 

 

9/16/1988

 

300

Marietta

 

GA

 

 

 

295,750

 

596,299

 

76,426

 

None

 

295,750

 

672,725

 

968,475

 

606,357

 

 

 

12/30/1988

 

300

Marietta

 

GA

 

 

 

301,000

 

668,529

 

71,474

 

19,961

 

301,000

 

759,964

 

1,060,964

 

725,780

 

 

 

12/30/1988

 

300

Smyrna

 

GA

 

 

 

274,750

 

610,229

 

None

 

None

 

274,750

 

610,229

 

884,979

 

610,229

 

 

 

11/15/1988

 

300

Stockbridge

 

GA

 

 

 

168,700

 

374,688

 

85,264

 

5,382

 

168,700

 

465,334

 

634,034

 

422,109

 

 

 

3/28/1989

 

300

Villa Rica

 

GA

 

 

 

110,000

 

968,000

 

None

 

None

 

110,000

 

968,000

 

1,078,000

 

11,293

 

 

 

9/29/2017

 

300

Cedar Rapids

 

IA

 

 

 

194,950

 

427,085

 

None

 

None

 

194,950

 

427,085

 

622,035

 

427,085

 

 

 

9/24/1992

 

300

Iowa City

 

IA

 

 

 

186,900

 

408,910

 

None

 

None

 

186,900

 

408,910

 

595,810

 

408,910

 

 

 

9/24/1992

 

300

Addison

 

IL

 

 

 

125,780

 

583,146

 

None

 

132

 

125,780

 

583,278

 

709,058

 

583,278

 

 

 

3/25/1986

 

300

Algonquin

 

IL

 

 

 

241,500

 

509,629

 

61,048

 

583

 

241,500

 

571,260

 

812,760

 

523,898

 

 

 

7/10/1990

 

300

Aurora

 

IL

 

 

 

165,679

 

398,738

 

105,300

 

21,963

 

165,679

 

526,001

 

691,680

 

449,109

 

 

 

12/21/1988

 

300

Aurora

 

IL

 

 

 

468,000

 

1,259,926

 

None

 

None

 

468,000

 

1,259,926

 

1,727,926

 

909,337

 

10/26/1999

 

6/14/1999

 

300

Bartlett

 

IL

 

 

 

120,824

 

560,166

 

81,122

 

12,101

 

120,824

 

653,389

 

774,213

 

602,398

 

 

 

3/25/1986

 

300

Carol Stream

 

IL

 

 

 

122,831

 

586,416

 

None

 

132

 

122,831

 

586,548

 

709,379

 

586,548

 

 

 

3/25/1986

 

300

Crystal Lake

 

IL

 

 

 

400,000

 

1,259,424

 

None

 

None

 

400,000

 

1,259,424

 

1,659,424

 

913,163

 

9/28/1999

 

5/14/1999

 

300

Glendale Heights

 

IL

 

 

 

318,500

 

707,399

 

None

 

None

 

318,500

 

707,399

 

1,025,899

 

707,399

 

 

 

11/16/1988

 

300

Hoffman Estates

 

IL

 

 

 

318,500

 

707,399

 

None

 

85

 

318,500

 

707,484

 

1,025,984

 

707,484

 

 

 

3/31/1989

 

300

Homer Glen

 

IL

 

 

 

189,477

 

442,018

 

None

 

655

 

189,477

 

442,673

 

632,150

 

442,242

 

 

 

10/29/1987

 

300

Lake In The Hills

 

IL

 

 

 

375,000

 

1,127,678

 

None

 

None

 

375,000

 

1,127,678

 

1,502,678

 

817,644

 

9/3/1999

 

5/14/1999

 

300

Naperville

 

IL

 

 

 

425,000

 

1,230,654

 

None

 

None

 

425,000

 

1,230,654

 

1,655,654

 

888,205

 

10/6/1999

 

5/19/1999

 

300

O’Fallon

 

IL

 

 

 

141,250

 

313,722

 

None

 

232

 

141,250

 

313,954

 

455,204

 

313,953

 

 

 

10/30/1987

 

300

Oswego

 

IL

 

 

 

380,000

 

1,165,818

 

None

 

None

 

380,000

 

1,165,818

 

1,545,818

 

849,158

 

8/18/1999

 

6/30/1999

 

300

Palatine

 

IL

 

 

 

121,911

 

565,232

 

None

 

132

 

121,911

 

565,364

 

687,275

 

565,365

 

 

 

3/25/1986

 

300

Roselle

 

IL

 

 

 

297,541

 

561,037

 

None

 

None

 

297,541

 

561,037

 

858,578

 

561,037

 

 

 

12/30/1988

 

300

Schaumburg

 

IL

 

 

 

218,798

 

485,955

 

20,461

 

None

 

218,798

 

506,416

 

725,214

 

499,725

 

 

 

12/17/1987

 

300

Vernon Hills

 

IL

 

 

 

132,523

 

614,430

 

None

 

583

 

132,523

 

615,013

 

747,536

 

614,751

 

 

 

3/25/1986

 

300

Westmont

 

IL

 

 

 

124,742

 

578,330

 

77,621

 

24,741

 

124,742

 

680,692

 

805,434

 

622,880

 

 

 

3/25/1986

 

300

Fishers

 

IN

 

 

 

212,118

 

419,958

 

26,509

 

11,338

 

212,118

 

457,805

 

669,923

 

439,762

 

 

 

12/27/1990

 

300

Highland

 

IN

 

 

 

220,460

 

436,476

 

None

 

None

 

220,460

 

436,476

 

656,936

 

436,476

 

 

 

12/26/1990

 

300

Indianapolis

 

IN

 

 

 

245,000

 

544,153

 

None

 

None

 

245,000

 

544,153

 

789,153

 

544,153

 

 

 

6/29/1990

 

300

Lenexa

 

KS

 

 

 

318,500

 

707,399

 

98,965

 

127

 

318,500

 

806,491

 

1,124,991

 

740,087

 

 

 

3/31/1989

 

300

Olathe

 

KS

 

 

 

304,500

 

676,308

 

87,242

 

44

 

304,500

 

763,594

 

1,068,094

 

723,333

 

 

 

9/28/1988

 

300

Overland Park

 

KS

 

 

 

357,500

 

1,115,171

 

None

 

None

 

357,500

 

1,115,171

 

1,472,671

 

815,970

 

7/23/1999

 

5/14/1999

 

300

Shawnee

 

KS

 

 

 

315,000

 

699,629

 

None

 

251

 

315,000

 

699,880

 

1,014,880

 

699,863

 

 

 

10/27/1988

 

300

Shawnee

 

KS

 

 

 

288,246

 

935,875

 

None

 

127

 

288,246

 

936,002

 

1,224,248

 

706,737

 

12/29/1998

 

8/24/1998

 

300

Wichita

 

KS

 

 

 

209,890

 

415,549

 

33,984

 

16,592

 

209,890

 

466,125

 

676,015

 

458,525

 

 

 

12/26/1990

 

300

Acton

 

MA

 

 

 

315,533

 

700,813

 

None

 

None

 

315,533

 

700,813

 

1,016,346

 

700,813

 

 

 

9/30/1988

 

300

Westborough

 

MA

 

 

 

359,412

 

773,877

 

63,037

 

22,260

 

359,412

 

859,174

 

1,218,586

 

825,575

 

 

 

11/1/1988

 

300

Ellicott City

 

MD

 

 

 

219,368

 

630,839

 

26,550

 

None

 

219,368

 

657,389

 

876,757

 

654,389

 

 

 

12/19/1988

 

300

Frederick

 

MD

 

 

 

203,352

 

1,017,109

 

None

 

2,874

 

203,352

 

1,019,983

 

1,223,335

 

794,236

 

 

 

7/6/1998

 

300

Olney

 

MD

 

 

 

342,500

 

760,701

 

4,400

 

41,272

 

342,500

 

806,373

 

1,148,873

 

801,617

 

 

 

12/18/1987

 

300

Waldorf

 

MD

 

 

 

130,430

 

604,702

 

None

 

508

 

130,430

 

605,210

 

735,640

 

605,050

 

 

 

9/26/1984

 

300

Waldorf

 

MD

 

 

 

237,207

 

526,844

 

None

 

172

 

237,207

 

527,016

 

764,223

 

527,015

 

 

 

12/31/1987

 

300

Canton

 

MI

 

 

 

55,000

 

378,848

 

2,913

 

304

 

55,000

 

382,065

 

437,065

 

381,411

 

 

 

10/6/1982

 

180

Apple Valley

 

MN

 

 

 

113,523

 

526,319

 

87,374

 

13,814

 

113,523

 

627,507

 

741,030

 

558,290

 

 

 

3/26/1986

 

300

Brooklyn Park

 

MN

 

 

 

118,111

 

547,587

 

None

 

197

 

118,111

 

547,784

 

665,895

 

547,784

 

 

 

3/26/1986

 

300

Eden Prairie

 

MN

 

 

 

124,286

 

576,243

 

None

 

197

 

124,286

 

576,440

 

700,726

 

576,440

 

 

 

3/27/1986

 

300

Maple Grove

 

MN

 

 

 

313,250

 

660,149

 

None

 

288

 

313,250

 

660,437

 

973,687

 

660,325

 

 

 

7/11/1990

 

300

Plymouth

 

MN

 

 

 

134,221

 

622,350

 

None

 

197

 

134,221

 

622,547

 

756,768

 

622,547

 

 

 

12/12/1986

 

300

Saint Paul

 

MN

 

 

 

242,165

 

537,856

 

None

 

288

 

242,165

 

538,144

 

780,309

 

538,032

 

 

 

8/30/1990

 

300

Florissant

 

MO

 

 

 

318,500

 

707,399

 

102,410

 

357

 

318,500

 

810,166

 

1,128,666

 

758,196

 

 

 

3/30/1989

 

300

Gladstone

 

MO

 

 

 

294,000

 

652,987

 

66,439

 

2,763

 

294,000

 

722,189

 

1,016,189

 

663,731

 

 

 

9/29/1988

 

300

Kansas City

 

MO

 

 

 

307,784

 

910,401

 

None

 

None

 

307,784

 

910,401

 

1,218,185

 

692,901

 

9/28/1999

 

8/21/1998

 

300

Lee’s Summit

 

MO

 

 

 

239,627

 

532,220

 

97,856

 

15,958

 

239,627

 

646,034

 

885,661

 

545,859

 

 

 

9/27/1989

 

300

Lee’s Summit

 

MO

 

 

 

313,740

 

939,367

 

None

 

None

 

313,740

 

939,367

 

1,253,107

 

684,219

 

9/8/1999

 

6/30/1999

 

300

Jackson

 

MS

 

 

 

248,483

 

572,522

 

54,227

 

17,780

 

248,483

 

644,529

 

893,012

 

456,977

 

 

 

11/16/1999

 

300

Tupelo

 

MS

 

 

 

121,697

 

637,691

 

87,858

 

56

 

121,697

 

725,605

 

847,302

 

571,059

 

 

 

11/26/1996

 

300

Cary

 

NC

 

 

 

75,200

 

262,973

 

15,000

 

None

 

75,200

 

277,973

 

353,173

 

272,182

 

 

 

1/25/1984

 

180

Charlotte

 

NC

 

 

 

134,582

 

268,222

 

24,478

 

None

 

134,582

 

292,700

 

427,282

 

291,170

 

 

 

11/16/1988

 

300

Concord

 

NC

 

 

 

32,441

 

190,859

 

None

 

None

 

32,441

 

190,859

 

223,300

 

190,859

 

 

 

12/23/1981

 

180

Durham

 

NC

 

 

 

175,700

 

390,234

 

26,312

 

None

 

175,700

 

416,546

 

592,246

 

414,572

 

 

 

3/29/1989

 

300

Durham

 

NC

 

 

 

220,728

 

429,380

 

None

 

None

 

220,728

 

429,380

 

650,108

 

429,380

 

 

 

12/29/1989

 

300

Kernersville

 

NC

 

 

 

162,216

 

316,300

 

28,800

 

None

 

162,216

 

345,100

 

507,316

 

318,760

 

 

 

12/14/1989

 

300

Bellevue

 

NE

 

 

 

60,568

 

280,819

 

None

 

None

 

60,568

 

280,819

 

341,387

 

280,819

 

 

 

12/16/1986

 

300

Omaha

 

NE

 

 

 

60,500

 

280,491

 

None

 

32

 

60,500

 

280,523

 

341,023

 

280,524

 

 

 

8/1/1984

 

300

Omaha

 

NE

 

 

 

53,000

 

245,720

 

72,027

 

32

 

53,000

 

317,779

 

370,779

 

266,432

 

 

 

10/11/1984

 

300

Omaha

 

NE

 

 

 

142,867

 

317,315

 

None

 

32

 

142,867

 

317,347

 

460,214

 

317,347

 

 

 

12/9/1987

 

300

Londonderry

 

NH

 

 

 

335,467

 

745,082

 

86,581

 

11,802

 

335,467

 

843,465

 

1,178,932

 

804,052

 

 

 

8/18/1989

 

300

Las Vegas

 

NV

 

 

 

201,250

 

446,983

 

37,014

 

6,657

 

201,250

 

490,654

 

691,904

 

467,154

 

 

 

6/29/1990

 

300

Beavercreek

 

OH

 

 

 

179,552

 

398,786

 

None

 

None

 

179,552

 

398,786

 

578,338

 

398,786

 

 

 

6/30/1987

 

300

Centerville

 

OH

 

 

 

174,519

 

387,613

 

79,900

 

3,249

 

174,519

 

470,762

 

645,281

 

395,852

 

 

 

7/23/1987

 

300

Cincinnati

 

OH

 

 

 

170,778

 

379,305

 

None

 

85

 

170,778

 

379,390

 

550,168

 

379,389

 

 

 

9/28/1987

 

300

Dublin

 

OH

 

 

 

84,000

 

389,446

 

None

 

None

 

84,000

 

389,446

 

473,446

 

389,446

 

 

 

10/8/1985

 

300

Englewood

 

OH

 

 

 

74,000

 

343,083

 

None

 

85

 

74,000

 

343,168

 

417,168

 

343,168

 

 

 

10/23/1985

 

300

 



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Huber Heights

 

OH

 

 

 

245,000

 

544,153

 

None

 

None

 

245,000

 

544,153

 

789,153

 

544,153

 

 

 

9/27/1990

 

300

Pickerington

 

OH

 

 

 

87,580

 

406,055

 

None

 

None

 

87,580

 

406,055

 

493,635

 

406,055

 

 

 

12/11/1986

 

300

Westerville

 

OH

 

 

 

82,000

 

380,173

 

None

 

None

 

82,000

 

380,173

 

462,173

 

380,173

 

 

 

10/8/1985

 

300

Broken Arrow

 

OK

 

 

 

78,705

 

220,434

 

None

 

None

 

78,705

 

220,434

 

299,139

 

220,434

 

 

 

1/27/1983

 

180

Midwest City

 

OK

 

 

 

67,800

 

314,338

 

None

 

None

 

67,800

 

314,338

 

382,138

 

314,338

 

 

 

8/14/1985

 

300

Oklahoma City

 

OK

 

 

 

50,800

 

214,474

 

None

 

None

 

50,800

 

214,474

 

265,274

 

214,474

 

 

 

6/15/1982

 

180

Oklahoma City

 

OK

 

 

 

79,000

 

366,261

 

17,659

 

None

 

79,000

 

383,920

 

462,920

 

383,921

 

 

 

11/14/1984

 

300

Yukon

 

OK

 

 

 

61,000

 

282,812

 

27,000

 

None

 

61,000

 

309,812

 

370,812

 

307,932

 

 

 

5/2/1985

 

300

Charleston

 

SC

 

 

 

140,700

 

312,498

 

25,000

 

153

 

140,700

 

337,651

 

478,351

 

335,187

 

 

 

3/28/1989

 

300

Columbia

 

SC

 

 

 

58,160

 

269,643

 

None

 

None

 

58,160

 

269,643

 

327,803

 

269,643

 

 

 

11/14/1984

 

300

Columbia

 

SC

 

 

 

160,831

 

313,600

 

None

 

None

 

160,831

 

313,600

 

474,431

 

313,600

 

 

 

12/14/1989

 

300

Goose Creek

 

SC

 

 

 

61,635

 

192,905

 

None

 

153

 

61,635

 

193,058

 

254,693

 

193,058

 

 

 

12/22/1981

 

180

North Charleston

 

SC

 

 

 

125,593

 

278,947

 

12,126

 

14,855

 

125,593

 

305,928

 

431,521

 

300,342

 

 

 

5/26/1988

 

300

Summerville

 

SC

 

 

 

44,400

 

174,500

 

None

 

153

 

44,400

 

174,653

 

219,053

 

174,653

 

 

 

12/22/1981

 

180

Memphis

 

TN

 

 

 

238,000

 

528,608

 

164,538

 

9,063

 

238,000

 

702,209

 

940,209

 

559,748

 

 

 

9/30/1988

 

300

Arlington

 

TX

 

 

 

241,500

 

550,559

 

45,046

 

242

 

241,500

 

595,847

 

837,347

 

588,199

 

 

 

9/22/1989

 

300

Austin

 

TX

 

 

 

88,872

 

222,684

 

54,562

 

281

 

88,872

 

277,527

 

366,399

 

268,533

 

 

 

1/12/1983

 

180

Austin

 

TX

 

 

 

134,383

 

623,103

 

2,379

 

21,981

 

134,383

 

647,463

 

781,846

 

639,657

 

 

 

12/23/1986

 

300

Austin

 

TX

 

 

 

191,636

 

425,629

 

15,530

 

None

 

191,636

 

441,159

 

632,795

 

441,159

 

 

 

12/22/1988

 

300

Austin

 

TX

 

 

 

217,878

 

483,913

 

149,228

 

9,167

 

217,878

 

642,308

 

860,186

 

553,049

 

 

 

6/22/1989

 

300

Bedford

 

TX

 

 

 

241,500

 

550,559

 

34,949

 

None

 

241,500

 

585,508

 

827,008

 

585,507

 

 

 

9/22/1989

 

300

Carrollton

 

TX

 

 

 

277,850

 

617,113

 

52,614

 

261

 

277,850

 

669,988

 

947,838

 

644,407

 

 

 

12/11/1987

 

300

Cedar Park

 

TX

 

 

 

168,857

 

375,036

 

5,200

 

139

 

168,857

 

380,375

 

549,232

 

380,375

 

 

 

11/21/1988

 

300

Colleyville

 

TX

 

 

 

250,000

 

1,070,360

 

None

 

102

 

250,000

 

1,070,462

 

1,320,462

 

779,726

 

8/17/1999

 

5/14/1999

 

300

Corinth

 

TX

 

 

 

285,000

 

1,041,626

 

None

 

None

 

285,000

 

1,041,626

 

1,326,626

 

765,590

 

6/4/1999

 

5/19/1999

 

300

Euless

 

TX

 

 

 

234,111

 

519,962

 

None

 

None

 

234,111

 

519,962

 

754,073

 

519,962

 

 

 

5/8/1987

 

300

Flower Mound

 

TX

 

 

 

202,773

 

442,845

 

32,069

 

16,315

 

202,773

 

491,229

 

694,002

 

481,341

 

 

 

4/20/1987

 

300

Flower Mound

 

TX

 

 

 

281,735

 

1,099,726

 

46,581

 

31,678

 

281,735

 

1,177,985

 

1,459,720

 

857,655

 

4/23/1999

 

1/13/1999

 

300

Fort Worth

 

TX

 

 

 

85,518

 

396,495

 

54,750

 

12,923

 

85,518

 

464,168

 

549,686

 

431,705

 

 

 

12/3/1986

 

300

Fort Worth

 

TX

 

 

 

238,000

 

528,608

 

73,662

 

91

 

238,000

 

602,361

 

840,361

 

562,704

 

 

 

9/26/1988

 

300

Fort Worth

 

TX

 

 

 

216,160

 

427,962

 

None

 

54

 

216,160

 

428,016

 

644,176

 

428,015

 

 

 

2/7/1991

 

300

Grand Prairie

 

TX

 

 

 

167,164

 

371,276

 

58,206

 

16,456

 

167,164

 

445,938

 

613,102

 

436,800

 

 

 

12/13/1988

 

300

Houston

 

TX

 

 

 

139,125

 

308,997

 

19,128

 

286

 

139,125

 

328,411

 

467,536

 

328,516

 

 

 

5/22/1987

 

300

Houston

 

TX

 

 

 

149,109

 

323,314

 

27,979

 

245

 

149,109

 

351,538

 

500,647

 

338,729

 

 

 

6/26/1989

 

300

Houston

 

TX

 

 

 

294,582

 

919,276

 

None

 

None

 

294,582

 

919,276

 

1,213,858

 

691,038

 

1/11/1999

 

8/14/1998

 

300

Humble

 

TX

 

 

 

278,915

 

1,034,868

 

None

 

None

 

278,915

 

1,034,868

 

1,313,783

 

757,209

 

7/19/1999

 

5/14/1999

 

300

Katy

 

TX

 

 

 

309,898

 

983,041

 

None

 

None

 

309,898

 

983,041

 

1,292,939

 

745,498

 

11/30/1998

 

8/21/1998

 

300

Lewisville

 

TX

 

 

 

192,777

 

428,121

 

47,371

 

95

 

192,777

 

475,587

 

668,364

 

455,448

 

 

 

1/7/1987

 

300

Mansfield

 

TX

 

 

 

181,375

 

402,839

 

46,878

 

83

 

181,375

 

449,800

 

631,175

 

440,809

 

 

 

12/20/1989

 

300

Mesquite

 

TX

 

 

 

85,000

 

-     

 

None

 

None

 

85,000

 

-     

 

85,000

 

-     

 

 

 

10/24/1984

 

N/A

Mesquite

 

TX

 

 

 

139,466

 

326,525

 

37,647

 

387

 

139,466

 

364,559

 

504,025

 

341,638

 

 

 

10/8/1992

 

300

Plano

 

TX

 

 

 

261,912

 

581,658

 

52,751

 

457

 

261,912

 

634,866

 

896,778

 

614,361

 

 

 

1/6/1987

 

300

Plano

 

TX

 

 

 

250,514

 

556,399

 

33,978

 

425

 

250,514

 

590,802

 

841,316

 

576,069

 

 

 

12/10/1987

 

300

San Antonio

 

TX

 

 

 

130,833

 

606,596

 

43,050

 

22,373

 

130,833

 

672,019

 

802,852

 

642,186

 

 

 

3/24/1986

 

300

San Antonio

 

TX

 

 

 

102,512

 

475,288

 

54,593

 

16,961

 

102,512

 

546,842

 

649,354

 

507,127

 

 

 

12/3/1986

 

300

San Antonio

 

TX

 

 

 

81,530

 

378,007

 

None

 

None

 

81,530

 

378,007

 

459,537

 

378,007

 

 

 

12/11/1986

 

300

San Antonio

 

TX

 

 

 

181,412

 

402,923

 

None

 

139

 

181,412

 

403,062

 

584,474

 

403,063

 

 

 

7/7/1987

 

300

San Antonio

 

TX

 

 

 

234,500

 

520,831

 

None

 

139

 

234,500

 

520,970

 

755,470

 

520,970

 

 

 

12/29/1987

 

300

San Antonio

 

TX

 

 

 

217,000

 

481,967

 

32,529

 

None

 

217,000

 

514,496

 

731,496

 

514,496

 

 

 

10/14/1988

 

300

San Antonio

 

TX

 

 

 

182,868

 

406,155

 

18,940

 

None

 

182,868

 

425,095

 

607,963

 

425,095

 

 

 

12/6/1988

 

300

San Antonio

 

TX

 

 

 

220,500

 

447,108

 

None

 

None

 

220,500

 

447,108

 

667,608

 

447,108

 

 

 

3/30/1989

 

300

Sugar Land

 

TX

 

 

 

339,310

 

1,000,876

 

None

 

None

 

339,310

 

1,000,876

 

1,340,186

 

738,978

 

5/30/1999

 

1/13/1999

 

300

Prosper

 

TX

 

 

 

760,608

 

2,989,392

 

None

 

None

 

760,608

 

2,989,392

 

3,750,000

 

14,947

 

 

 

11/3/2017

 

300

Layton

 

UT

 

 

 

136,574

 

269,008

 

None

 

None

 

136,574

 

269,008

 

405,582

 

269,008

 

 

 

2/1/1990

 

300

Sandy

 

UT

 

 

 

168,089

 

373,330

 

None

 

None

 

168,089

 

373,330

 

541,419

 

373,330

 

 

 

2/1/1990

 

300

Centreville

 

VA

 

 

 

371,000

 

824,003

 

None

 

463

 

371,000

 

824,466

 

1,195,466

 

824,466

 

 

 

9/29/1989

 

300

Chesapeake

 

VA

 

 

 

190,050

 

422,107

 

24,568

 

None

 

190,050

 

446,675

 

636,725

 

444,561

 

 

 

3/28/1989

 

300

Glen Allen

 

VA

 

 

 

74,643

 

346,060

 

None

 

153

 

74,643

 

346,213

 

420,856

 

346,214

 

 

 

6/20/1984

 

300

Portsmouth

 

VA

 

 

 

171,575

 

381,073

 

24,932

 

None

 

171,575

 

406,005

 

577,580

 

403,917

 

 

 

12/21/1988

 

300

Virginia Beach

 

VA

 

 

 

69,080

 

320,270

 

29,024

 

None

 

69,080

 

349,294

 

418,374

 

337,270

 

 

 

11/15/1984

 

300

Federal Way

 

WA

 

 

 

150,785

 

699,101

 

None

 

107

 

150,785

 

699,208

 

849,993

 

699,207

 

 

 

12/17/1986

 

300

Federal Way

 

WA

 

 

 

261,943

 

581,782

 

27,500

 

107

 

261,943

 

609,389

 

871,332

 

606,628

 

 

 

11/21/1988

 

300

Kent

 

WA

 

 

 

128,300

 

539,141

 

None

 

None

 

128,300

 

539,141

 

667,441

 

539,141

 

 

 

6/3/1983

 

180

Kent

 

WA

 

 

 

140,763

 

678,809

 

36,500

 

None

 

140,763

 

715,309

 

856,072

 

715,309

 

 

 

12/17/1986

 

300

Kirkland

 

WA

 

 

 

301,000

 

668,534

 

None

 

107

 

301,000

 

668,641

 

969,641

 

668,641

 

 

 

3/31/1988

 

300

Puyallup

 

WA

 

 

 

195,552

 

434,327

 

27,000

 

107

 

195,552

 

461,434

 

656,986

 

459,019

 

 

 

12/6/1988

 

300

Redmond

 

WA

 

 

 

279,830

 

621,513

 

None

 

107

 

279,830

 

621,620

 

901,450

 

621,620

 

 

 

7/27/1987

 

300

Renton

 

WA

 

 

 

111,183

 

515,490

 

None

 

None

 

111,183

 

515,490

 

626,673

 

515,490

 

 

 

3/24/1986

 

300

Appleton

 

WI

 

 

 

196,000

 

424,038

 

None

 

409

 

196,000

 

424,447

 

620,447

 

424,447

 

 

 

7/10/1990

 

300

Waukesha

 

WI

 

 

 

233,100

 

461,500

 

None

 

211

 

233,100

 

461,711

 

694,811

 

461,711

 

 

 

12/13/1990

 

300

Waukesha

 

WI

 

 

 

215,950

 

427,546

 

None

 

409

 

215,950

 

427,955

 

643,905

 

427,954

 

 

 

12/13/1990

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer appliances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North Liberty

 

IA

 

 

 

6,395,970

 

19,385,806

 

None

 

None

 

6,395,970

 

19,385,806

 

25,781,776

 

2,746,323

 

 

 

1/22/2013

 

420

Greenville

 

OH

 

 

 

1,704,130

 

28,221,803

 

None

 

55

 

1,704,130

 

28,221,858

 

29,925,988

 

3,087,341

 

 

 

7/31/2012

 

420

Marion

 

OH

 

 

 

801,003

 

25,410,810

 

None

 

None

 

801,003

 

25,410,810

 

26,211,813

 

3,599,865

 

 

 

1/22/2013

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer electronics

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tampa

 

FL

 

 

 

401,874

 

933,768

 

103,336

 

32,053

 

401,874

 

1,069,157

 

1,471,031

 

882,956

 

 

 

12/23/1997

 

300

Smyrna

 

GA

 

 

 

1,094,058

 

3,090,236

 

None

 

None

 

1,094,058

 

3,090,236

 

4,184,294

 

2,539,029

 

 

 

6/9/1997

 

300

Columbia

 

MD

 

 

 

3,374,622

 

3,191,242

 

None

 

None

 

3,374,622

 

3,191,242

 

6,565,864

 

15,956

 

 

 

11/3/2017

 

300

Jackson

 

MI

 

 

 

550,162

 

571,590

 

None

 

210

 

550,162

 

571,800

 

1,121,962

 

431,801

 

1/15/1999

 

9/25/1998

 

300

Pineville

 

NC

 

 

 

567,864

 

840,284

 

37,249

 

153

 

567,864

 

877,686

 

1,445,550

 

669,535

 

 

 

12/31/1998

 

300

Albion

 

NY

 

 

 

170,589

 

317,424

 

100,000

 

7,680

 

170,589

 

425,104

 

595,693

 

252,214

 

 

 

3/31/1999

 

300

Wellsville

 

NY

 

 

 

161,331

 

300,231

 

75,000

 

11,520

 

161,331

 

386,751

 

548,082

 

232,993

 

 

 

3/31/1999

 

300

Westbury

 

NY

 

 

 

6,333,590

 

3,952,773

 

318,799

 

None

 

6,333,590

 

4,271,572

 

10,605,162

 

3,334,068

 

 

 

9/29/1997

 

300

Austin

 

TX

 

 

 

3,630,000

 

5,083,734

 

None

 

None

 

3,630,000

 

5,083,734

 

8,713,734

 

686,304

 

 

 

8/19/2014

 

300

Fredericksburg

 

VA

 

 

 

2,060,000

 

3,638,672

 

None

 

None

 

2,060,000

 

3,638,672

 

5,698,672

 

175,869

 

 

 

10/31/2016

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer goods

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

West Branch

 

IA

 

 

 

969,797

 

19,896,576

 

125,814

 

706

 

969,797

 

20,023,096

 

20,992,893

 

4,248,019

 

 

 

9/20/2012

 

300

DeKalb

 

IL

 

 

 

3,507,503

 

50,808,610

 

None

 

None

 

3,507,503

 

50,808,610

 

54,316,113

 

7,197,886

 

 

 

1/22/2013

 

420

Loves Park

 

IL

 

 

 

1,010,778

 

10,068,142

 

None

 

None

 

1,010,778

 

10,068,142

 

11,078,920

 

1,426,320

 

 

 

1/22/2013

 

420

Rural Hall

 

NC

 

 

 

710,000

 

17,739,591

 

75,975

 

None

 

710,000

 

17,815,566

 

18,525,566

 

1,168,418

 

 

 

9/22/2015

 

420

Grantsville

 

UT

 

 

 

1,719,381

 

40,160,295

 

None

 

None

 

1,719,381

 

40,160,295

 

41,879,676

 

5,689,375

 

 

 

1/22/2013

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Convenience stores

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Daphne

 

AL

 

 

 

140,000

 

391,637

 

None

 

None

 

140,000

 

391,637

 

531,637

 

216,050

 

 

 

3/18/2004

 

300

Mobile

 

AL

 

 

 

190,000

 

301,637

 

None

 

None

 

190,000

 

301,637

 

491,637

 

166,400

 

 

 

3/18/2004

 

300

Mobile

 

AL

 

 

 

180,000

 

421,637

 

None

 

None

 

180,000

 

421,637

 

601,637

 

232,600

 

 

 

3/18/2004

 

300

North Little Rock

 

AR

 

 

 

1,138,381

 

2,112,637

 

1,500

 

None

 

1,138,381

 

2,114,137

 

3,252,518

 

405,635

 

 

 

3/29/2013

 

300

Florence

 

AZ

 

 

 

150,000

 

371,637

 

None

 

None

 

150,000

 

371,637

 

521,637

 

205,017

 

 

 

3/18/2004

 

300

Gilbert

 

AZ

 

 

 

680,000

 

1,111,637

 

None

 

None

 

680,000

 

1,111,637

 

1,791,637

 

613,250

 

 

 

3/18/2004

 

300

Glendale

 

AZ

 

 

 

610,000

 

531,637

 

None

 

None

 

610,000

 

531,637

 

1,141,637

 

293,284

 

 

 

3/18/2004

 

300

Glendale

 

AZ

 

 

 

400,000

 

931,637

 

None

 

None

 

400,000

 

931,637

 

1,331,637

 

513,950

 

 

 

3/18/2004

 

300

Maricopa

 

AZ

 

 

 

170,000

 

361,637

 

None

 

None

 

170,000

 

361,637

 

531,637

 

199,500

 

 

 

3/18/2004

 

300

Mesa

 

AZ

 

 

 

560,000

 

821,637

 

None

 

None

 

560,000

 

821,637

 

1,381,637

 

453,267

 

 

 

3/18/2004

 

300

Mesa

 

AZ

 

 

 

750,000

 

1,071,637

 

None

 

None

 

750,000

 

1,071,637

 

1,821,637

 

591,184

 

 

 

3/18/2004

 

300

Mesa

 

AZ

 

 

 

810,000

 

1,061,637

 

None

 

None

 

810,000

 

1,061,637

 

1,871,637

 

585,667

 

 

 

3/18/2004

 

300

Mesa

 

AZ

 

 

 

890,000

 

1,081,637

 

None

 

None

 

890,000

 

1,081,637

 

1,971,637

 

596,700

 

 

 

3/18/2004

 

300

Mesa

 

AZ

 

 

 

780,000

 

1,071,637

 

None

 

None

 

780,000

 

1,071,637

 

1,851,637

 

591,184

 

 

 

3/18/2004

 

300

Mesa

 

AZ

 

 

 

900,000

 

1,191,637

 

None

 

None

 

900,000

 

1,191,637

 

2,091,637

 

657,384

 

 

 

3/18/2004

 

300

Payson

 

AZ

 

 

 

210,000

 

351,637

 

None

 

None

 

210,000

 

351,637

 

561,637

 

193,984

 

 

 

3/18/2004

 

300

Payson

 

AZ

 

 

 

260,000

 

311,637

 

None

 

None

 

260,000

 

311,637

 

571,637

 

171,917

 

 

 

3/18/2004

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peoria

 

AZ

 

 

 

520,000

 

751,637

 

None

 

None

 

520,000

 

751,637

 

1,271,637

 

414,650

 

 

 

3/18/2004

 

300

Phoenix

 

AZ

 

 

 

440,000

 

511,637

 

None

 

None

 

440,000

 

511,637

 

951,637

 

282,250

 

 

 

3/18/2004

 

300

Phoenix

 

AZ

 

 

 

360,000

 

421,637

 

None

 

None

 

360,000

 

421,637

 

781,637

 

232,600

 

 

 

3/18/2004

 

300

Phoenix

 

AZ

 

 

 

710,000

 

591,637

 

None

 

None

 

710,000

 

591,637

 

1,301,637

 

326,384

 

 

 

3/18/2004

 

300

Phoenix

 

AZ

 

 

 

320,000

 

661,637

 

None

 

None

 

320,000

 

661,637

 

981,637

 

365,000

 

 

 

3/18/2004

 

300

Phoenix

 

AZ

 

 

 

450,000

 

651,637

 

None

 

None

 

450,000

 

651,637

 

1,101,637

 

359,484

 

 

 

3/18/2004

 

300

Phoenix

 

AZ

 

 

 

430,000

 

711,637

 

None

 

None

 

430,000

 

711,637

 

1,141,637

 

392,584

 

 

 

3/18/2004

 

300

Phoenix

 

AZ

 

 

 

730,000

 

931,637

 

None

 

None

 

730,000

 

931,637

 

1,661,637

 

513,950

 

 

 

3/18/2004

 

300

Phoenix

 

AZ

 

 

 

790,000

 

1,051,637

 

None

 

None

 

790,000

 

1,051,637

 

1,841,637

 

580,150

 

 

 

3/18/2004

 

300

Pinetop

 

AZ

 

 

 

170,000

 

311,637

 

None

 

None

 

170,000

 

311,637

 

481,637

 

171,917

 

 

 

3/18/2004

 

300

Queen Creek

 

AZ

 

 

 

520,000

 

891,637

 

None

 

None

 

520,000

 

891,637

 

1,411,637

 

491,884

 

 

 

3/18/2004

 

300

Scottsdale

 

AZ

 

 

 

210,000

 

201,637

 

None

 

None

 

210,000

 

201,637

 

411,637

 

111,234

 

 

 

3/18/2004

 

300

Scottsdale

 

AZ

 

 

 

660,000

 

1,031,637

 

None

 

None

 

660,000

 

1,031,637

 

1,691,637

 

569,117

 

 

 

3/18/2004

 

300

Sierra Vista

 

AZ

 

 

 

110,000

 

301,637

 

None

 

None

 

110,000

 

301,637

 

411,637

 

166,400

 

 

 

3/18/2004

 

300

Tempe

 

AZ

 

 

 

620,000

 

1,071,637

 

None

 

None

 

620,000

 

1,071,637

 

1,691,637

 

591,184

 

 

 

3/18/2004

 

300

Tempe

 

AZ

 

 

 

270,000

 

461,637

 

None

 

None

 

270,000

 

461,637

 

731,637

 

254,667

 

 

 

3/18/2004

 

300

Tolleson

 

AZ

 

 

 

460,000

 

1,231,637

 

None

 

None

 

460,000

 

1,231,637

 

1,691,637

 

679,450

 

 

 

3/18/2004

 

300

Tombstone

 

AZ

 

 

 

110,000

 

381,637

 

None

 

None

 

110,000

 

381,637

 

491,637

 

210,534

 

 

 

3/18/2004

 

300

Tucson

 

AZ

 

 

 

220,000

 

311,637

 

None

 

None

 

220,000

 

311,637

 

531,637

 

171,917

 

 

 

3/18/2004

 

300

Tucson

 

AZ

 

 

 

240,000

 

341,637

 

None

 

None

 

240,000

 

341,637

 

581,637

 

188,467

 

 

 

3/18/2004

 

300

Tucson

 

AZ

 

 

 

550,000

 

511,637

 

None

 

None

 

550,000

 

511,637

 

1,061,637

 

282,250

 

 

 

3/18/2004

 

300

Tucson

 

AZ

 

 

 

126,000

 

234,565

 

None

 

None

 

126,000

 

234,565

 

360,565

 

128,620

 

 

 

4/14/2004

 

300

Wellton

 

AZ

 

 

 

120,000

 

291,637

 

None

 

None

 

120,000

 

291,637

 

411,637

 

160,884

 

 

 

3/18/2004

 

300

Wickenburg

 

AZ

 

 

 

150,000

 

291,637

 

None

 

None

 

150,000

 

291,637

 

441,637

 

160,884

 

 

 

3/18/2004

 

300

Clovis

 

CA

 

 

 

990,000

 

823,746

 

None

 

None

 

990,000

 

823,746

 

1,813,746

 

34,154

 

 

 

12/21/2016

 

300

King City

 

CA

 

 

 

2,520,000

 

1,888,720

 

None

 

None

 

2,520,000

 

1,888,720

 

4,408,720

 

78,197

 

 

 

12/21/2016

 

300

Lake Elsinore

 

CA

 

 

 

1,260,000

 

1,570,000

 

None

 

None

 

1,260,000

 

1,570,000

 

2,830,000

 

65,315

 

 

 

12/21/2016

 

300

Merced

 

CA

 

 

 

840,000

 

857,459

 

None

 

None

 

840,000

 

857,459

 

1,697,459

 

35,472

 

 

 

12/21/2016

 

300

Oakhurst

 

CA

 

 

 

740,000

 

930,904

 

None

 

None

 

740,000

 

930,904

 

1,670,904

 

38,511

 

 

 

12/21/2016

 

300

Richmond

 

CA

 

 

 

2,088,655

 

2,611,345

 

None

 

None

 

2,088,655

 

2,611,345

 

4,700,000

 

108,133

 

 

 

12/21/2016

 

300

Sacramento

 

CA

 

 

 

1,737,297

 

2,172,059

 

None

 

None

 

1,737,297

 

2,172,059

 

3,909,356

 

89,942

 

 

 

12/21/2016

 

300

San Jose

 

CA

 

 

 

4,630,000

 

1,020,000

 

None

 

None

 

4,630,000

 

1,020,000

 

5,650,000

 

42,212

 

 

 

12/21/2016

 

300

Sand City

 

CA

 

 

 

2,290,000

 

1,600,000

 

None

 

None

 

2,290,000

 

1,600,000

 

3,890,000

 

66,445

 

 

 

12/21/2016

 

300

Santa Cruz

 

CA

 

 

 

1,210,000

 

636,085

 

None

 

None

 

1,210,000

 

636,085

 

1,846,085

 

26,204

 

 

 

12/21/2016

 

300

Santa Cruz

 

CA

 

 

 

1,200,000

 

563,273

 

None

 

None

 

1,200,000

 

563,273

 

1,763,273

 

23,313

 

 

 

12/21/2016

 

300

Stockton

 

CA

 

 

 

1,051,621

 

1,314,791

 

None

 

None

 

1,051,621

 

1,314,791

 

2,366,412

 

54,444

 

 

 

12/21/2016

 

300

Aurora

 

CO

 

 

 

1,040,000

 

1,928,302

 

None

 

None

 

1,040,000

 

1,928,302

 

2,968,302

 

79,793

 

 

 

12/21/2016

 

300

Brighton

 

CO

 

 

 

510,000

 

1,794,977

 

None

 

None

 

510,000

 

1,794,977

 

2,304,977

 

74,256

 

 

 

12/21/2016

 

300

Colorado Springs

 

CO

 

 

 

1,103,650

 

2,048,135

 

1,500

 

None

 

1,103,650

 

2,049,635

 

3,153,285

 

393,272

 

 

 

3/29/2013

 

300

Colorado Springs

 

CO

 

 

 

800,000

 

1,780,000

 

None

 

None

 

800,000

 

1,780,000

 

2,580,000

 

73,602

 

 

 

12/21/2016

 

300

Colorado Springs

 

CO

 

 

 

1,157,717

 

1,447,438

 

None

 

None

 

1,157,717

 

1,447,438

 

2,605,155

 

59,937

 

 

 

12/21/2016

 

300

Colorado Springs

 

CO

 

 

 

1,424,018

 

1,774,083

 

None

 

None

 

1,424,018

 

1,774,083

 

3,198,101

 

73,437

 

 

 

12/21/2016

 

300

Henderson

 

CO

 

 

 

1,180,000

 

1,845,489

 

None

 

None

 

1,180,000

 

1,845,489

 

3,025,489

 

76,360

 

 

 

12/21/2016

 

300

Peyton

 

CO

 

 

 

1,403,283

 

1,998,753

 

None

 

None

 

1,403,283

 

1,998,753

 

3,402,036

 

82,758

 

 

 

12/21/2016

 

300

Vernon

 

CT

 

 

 

179,646

 

319,372

 

None

 

13

 

179,646

 

319,385

 

499,031

 

291,172

 

 

 

3/9/1995

 

300

Westbrook

 

CT

 

 

 

98,247

 

373,340

 

None

 

None

 

98,247

 

373,340

 

471,587

 

340,361

 

 

 

3/9/1995

 

300

Camden

 

DE

 

 

 

113,811

 

174,435

 

None

 

None

 

113,811

 

174,435

 

288,246

 

103,200

 

 

 

3/19/2003

 

300

Camden

 

DE

 

 

 

250,528

 

379,165

 

None

 

None

 

250,528

 

379,165

 

629,693

 

224,332

 

 

 

3/19/2003

 

300

Dewey

 

DE

 

 

 

147,465

 

224,665

 

None

 

None

 

147,465

 

224,665

 

372,130

 

132,920

 

 

 

3/19/2003

 

300

Dover

 

DE

 

 

 

278,804

 

421,707

 

None

 

None

 

278,804

 

421,707

 

700,511

 

249,503

 

 

 

3/19/2003

 

300

Dover

 

DE

 

 

 

367,137

 

554,207

 

None

 

None

 

367,137

 

554,207

 

921,344

 

327,899

 

 

 

3/19/2003

 

300

Dover

 

DE

 

 

 

367,425

 

554,884

 

None

 

None

 

367,425

 

554,884

 

922,309

 

328,299

 

 

 

3/19/2003

 

300

Felton

 

DE

 

 

 

307,260

 

464,391

 

None

 

None

 

307,260

 

464,391

 

771,651

 

274,758

 

 

 

3/19/2003

 

300

Greenwood

 

DE

 

 

 

632,303

 

1,176,711

 

None

 

None

 

632,303

 

1,176,711

 

1,809,014

 

476,566

 

 

 

11/29/2007

 

300

Harrington

 

DE

 

 

 

563,812

 

849,220

 

None

 

None

 

563,812

 

849,220

 

1,413,032

 

502,448

 

 

 

3/19/2003

 

300

Milford

 

DE

 

 

 

310,049

 

468,575

 

None

 

None

 

310,049

 

468,575

 

778,624

 

277,233

 

 

 

3/19/2003

 

300

New Castle

 

DE

 

 

 

589,325

 

887,488

 

None

 

None

 

589,325

 

887,488

 

1,476,813

 

525,090

 

 

 

3/19/2003

 

300

Smyrna

 

DE

 

 

 

121,774

 

186,436

 

None

 

None

 

121,774

 

186,436

 

308,210

 

110,301

 

 

 

3/19/2003

 

300

Smyrna

 

DE

 

 

 

401,135

 

605,332

 

None

 

None

 

401,135

 

605,332

 

1,006,467

 

358,148

 

 

 

3/19/2003

 

300

Townsend

 

DE

 

 

 

241,416

 

365,749

 

None

 

None

 

241,416

 

365,749

 

607,165

 

216,394

 

 

 

3/19/2003

 

300

Wilmington

 

DE

 

 

 

280,682

 

424,525

 

None

 

None

 

280,682

 

424,525

 

705,207

 

251,170

 

 

 

3/19/2003

 

300

Apopka

 

FL

 

 

 

1,607,879

 

2,003,141

 

None

 

None

 

1,607,879

 

2,003,141

 

3,611,020

 

82,919

 

 

 

12/21/2016

 

300

Archer

 

FL

 

 

 

296,238

 

578,145

 

None

 

None

 

296,238

 

578,145

 

874,383

 

430,717

 

 

 

5/7/1999

 

300

Bradenton

 

FL

 

 

 

946,638

 

1,671,528

 

499

 

None

 

946,638

 

1,672,027

 

2,618,665

 

331,765

 

 

 

1/22/2013

 

300

Bradenton

 

FL

 

 

 

414,000

 

107,500

 

1,500

 

None

 

414,000

 

109,000

 

523,000

 

21,329

 

 

 

3/8/2013

 

300

Bushnell

 

FL

 

 

 

130,000

 

291,637

 

None

 

None

 

130,000

 

291,637

 

421,637

 

160,884

 

 

 

3/18/2004

 

300

Cape Coral

 

FL

 

 

 

1,460,725

 

1,826,274

 

None

 

None

 

1,460,725

 

1,826,274

 

3,286,999

 

75,624

 

 

 

12/21/2016

 

300

Cape Coral

 

FL

 

 

 

260,000

 

1,667,327

 

None

 

None

 

260,000

 

1,667,327

 

1,927,327

 

68,982

 

 

 

12/21/2016

 

300

Casselberry

 

FL

 

 

 

1,370,000

 

2,006,750

 

None

 

None

 

1,370,000

 

2,006,750

 

3,376,750

 

83,046

 

 

 

12/21/2016

 

300

Clearwater

 

FL

 

 

 

359,792

 

311,845

 

None

 

None

 

359,792

 

311,845

 

671,637

 

172,032

 

 

 

3/18/2004

 

300

Cocoa

 

FL

 

 

 

323,827

 

287,810

 

None

 

None

 

323,827

 

287,810

 

611,637

 

158,773

 

 

 

3/18/2004

 

300

Deerfield Beach

 

FL

 

 

 

1,600,000

 

982,745

 

None

 

None

 

1,600,000

 

982,745

 

2,582,745

 

40,693

 

 

 

12/21/2016

 

300

Deltona

 

FL

 

 

 

140,000

 

321,637

 

None

 

None

 

140,000

 

321,637

 

461,637

 

177,434

 

 

 

3/18/2004

 

300

Englewood

 

FL

 

 

 

270,000

 

331,637

 

None

 

None

 

270,000

 

331,637

 

601,637

 

182,950

 

 

 

3/18/2004

 

300

Estero

 

FL

 

 

 

750,000

 

1,926,751

 

None

 

None

 

750,000

 

1,926,751

 

2,676,751

 

79,691

 

 

 

12/21/2016

 

300

Fort Lauderdale

 

FL

 

 

 

1,589,155

 

1,986,844

 

None

 

None

 

1,589,155

 

1,986,844

 

3,575,999

 

82,273

 

 

 

12/21/2016

 

300

Fort Lauderdale

 

FL

 

 

 

2,630,000

 

1,487,205

 

None

 

None

 

2,630,000

 

1,487,205

 

4,117,205

 

61,679

 

 

 

12/21/2016

 

300

Fort Myers

 

FL

 

 

 

1,569,552

 

1,955,392

 

None

 

None

 

1,569,552

 

1,955,392

 

3,524,944

 

80,942

 

 

 

12/21/2016

 

300

Fort Myers

 

FL

 

 

 

1,050,000

 

1,892,065

 

None

 

None

 

1,050,000

 

1,892,065

 

2,942,065

 

78,244

 

 

 

12/21/2016

 

300

Fort Myers

 

FL

 

 

 

1,195,358

 

1,702,597

 

None

 

None

 

1,195,358

 

1,702,597

 

2,897,955

 

70,496

 

 

 

12/21/2016

 

300

Gainesville

 

FL

 

 

 

515,834

 

873,187

 

None

 

None

 

515,834

 

873,187

 

1,389,021

 

650,523

 

 

 

5/7/1999

 

300

Gainesville

 

FL

 

 

 

480,318

 

600,633

 

None

 

None

 

480,318

 

600,633

 

1,080,951

 

447,470

 

 

 

5/7/1999

 

300

Gainesville

 

FL

 

 

 

347,310

 

694,859

 

None

 

None

 

347,310

 

694,859

 

1,042,169

 

517,669

 

 

 

5/7/1999

 

300

Gainesville

 

FL

 

 

 

339,263

 

658,807

 

None

 

None

 

339,263

 

658,807

 

998,070

 

490,810

 

 

 

5/7/1999

 

300

Gainesville

 

FL

 

 

 

351,921

 

552,557

 

None

 

None

 

351,921

 

552,557

 

904,478

 

411,654

 

 

 

5/7/1999

 

300

Gainesville

 

FL

 

 

 

500,032

 

850,291

 

None

 

None

 

500,032

 

850,291

 

1,350,323

 

633,466

 

 

 

5/7/1999

 

300

Homosassa Springs

 

FL

 

 

 

740,000

 

621,637

 

None

 

None

 

740,000

 

621,637

 

1,361,637

 

342,934

 

 

 

3/18/2004

 

300

Hudson

 

FL

 

 

 

300,000

 

351,637

 

None

 

None

 

300,000

 

351,637

 

651,637

 

193,984

 

 

 

3/18/2004

 

300

Intercession City

 

FL

 

 

 

161,776

 

319,861

 

None

 

None

 

161,776

 

319,861

 

481,637

 

176,454

 

 

 

3/18/2004

 

300

Jacksonville

 

FL

 

 

 

266,111

 

494,206

 

None

 

None

 

266,111

 

494,206

 

760,317

 

270,990

 

 

 

4/1/2004

 

300

Jupiter

 

FL

 

 

 

1,591,966

 

2,267,502

 

None

 

None

 

1,591,966

 

2,267,502

 

3,859,468

 

93,886

 

 

 

12/21/2016

 

300

Jupiter

 

FL

 

 

 

2,540,000

 

1,449,889

 

None

 

None

 

2,540,000

 

1,449,889

 

3,989,889

 

60,147

 

 

 

12/21/2016

 

300

Key West

 

FL

 

 

 

873,700

 

627,937

 

None

 

None

 

873,700

 

627,937

 

1,501,637

 

346,409

 

 

 

3/18/2004

 

300

Key West

 

FL

 

 

 

492,785

 

208,852

 

None

 

None

 

492,785

 

208,852

 

701,637

 

115,214

 

 

 

3/18/2004

 

300

Kissimmee

 

FL

 

 

 

920,000

 

2,075,994

 

None

 

None

 

920,000

 

2,075,994

 

2,995,994

 

85,981

 

 

 

12/21/2016

 

300

Kissimmee

 

FL

 

 

 

920,000

 

2,121,172

 

None

 

None

 

920,000

 

2,121,172

 

3,041,172

 

87,829

 

 

 

12/21/2016

 

300

Lake Mary

 

FL

 

 

 

1,720,000

 

1,592,384

 

None

 

None

 

1,720,000

 

1,592,384

 

3,312,384

 

65,881

 

 

 

12/21/2016

 

300

Lake Worth

 

FL

 

 

 

2,440,000

 

1,113,008

 

None

 

None

 

2,440,000

 

1,113,008

 

3,553,008

 

46,120

 

 

 

12/21/2016

 

300

Lakeland

 

FL

 

 

 

527,076

 

464,561

 

None

 

None

 

527,076

 

464,561

 

991,637

 

256,280

 

 

 

3/18/2004

 

300

Lakeland

 

FL

 

 

 

300,000

 

321,637

 

None

 

None

 

300,000

 

321,637

 

621,637

 

177,434

 

 

 

3/18/2004

 

300

Land O Lakes

 

FL

 

 

 

120,000

 

361,637

 

None

 

None

 

120,000

 

361,637

 

481,637

 

199,500

 

 

 

3/18/2004

 

300

Largo

 

FL

 

 

 

900,000

 

1,475,882

 

None

 

None

 

900,000

 

1,475,882

 

2,375,882

 

217,129

 

4/9/2014

 

8/13/2013

 

300

Lehigh Acres

 

FL

 

 

 

1,363,701

 

1,942,375

 

None

 

None

 

1,363,701

 

1,942,375

 

3,306,076

 

80,424

 

 

 

12/21/2016

 

300

Lutz

 

FL

 

 

 

480,000

 

421,637

 

None

 

None

 

480,000

 

421,637

 

901,637

 

232,600

 

 

 

3/18/2004

 

300

Miramar

 

FL

 

 

 

1,691,444

 

2,114,731

 

None

 

None

 

1,691,444

 

2,114,731

 

3,806,175

 

87,568

 

 

 

12/21/2016

 

300

Miramar

 

FL

 

 

 

1,755,308

 

2,500,157

 

None

 

None

 

1,755,308

 

2,500,157

 

4,255,465

 

103,519

 

 

 

12/21/2016

 

300

Moore Haven

 

FL

 

 

 

180,342

 

331,295

 

None

 

None

 

180,342

 

331,295

 

511,637

 

182,762

 

 

 

3/18/2004

 

300

Mount Dora

 

FL

 

 

 

1,423,518

 

2,513,578

 

751

 

None

 

1,423,518

 

2,514,329

 

3,937,847

 

498,896

 

 

 

1/22/2013

 

300

Naples

 

FL

 

 

 

150,000

 

301,637

 

None

 

None

 

150,000

 

301,637

 

451,637

 

166,400

 

 

 

3/18/2004

 

300

Naples

 

FL

 

 

 

620,000

 

381,637

 

None

 

None

 

620,000

 

381,637

 

1,001,637

 

210,534

 

 

 

3/18/2004

 

300

Naples

 

FL

 

 

 

1,372,465

 

1,715,927

 

None

 

None

 

1,372,465

 

1,715,927

 

3,088,392

 

71,055

 

 

 

12/21/2016

 

300

Naples

 

FL

 

 

 

3,600,000

 

1,536,146

 

None

 

None

 

3,600,000

 

1,536,146

 

5,136,146

 

63,696

 

 

 

12/21/2016

 

300

New Port Richey

 

FL

 

 

 

190,000

 

601,637

 

None

 

None

 

190,000

 

601,637

 

791,637

 

331,900

 

 

 

3/18/2004

 

300

North Fort Myers

 

FL

 

 

 

140,000

 

281,637

 

None

 

None

 

140,000

 

281,637

 

421,637

 

155,367

 

 

 

3/18/2004

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ocoee

 

FL

 

 

 

1,421,322

 

1,770,723

 

None

 

None

 

1,421,322

 

1,770,723

 

3,192,045

 

73,298

 

 

 

12/21/2016

 

300

Okeechobee

 

FL

 

 

 

195,075

 

346,562

 

None

 

None

 

195,075

 

346,562

 

541,637

 

191,184

 

 

 

3/18/2004

 

300

Orlando

 

FL

 

 

 

240,000

 

301,637

 

None

 

None

 

240,000

 

301,637

 

541,637

 

166,400

 

 

 

3/18/2004

 

300

Orlando

 

FL

 

 

 

1,326,905

 

1,653,096

 

None

 

None

 

1,326,905

 

1,653,096

 

2,980,001

 

68,429

 

 

 

12/21/2016

 

300

Orlando

 

FL

 

 

 

1,240,000

 

2,690,000

 

None

 

None

 

1,240,000

 

2,690,000

 

3,930,000

 

111,517

 

 

 

12/21/2016

 

300

Orlando

 

FL

 

 

 

1,946,307

 

2,772,205

 

None

 

None

 

1,946,307

 

2,772,205

 

4,718,512

 

114,783

 

 

 

12/21/2016

 

300

Orlando

 

FL

 

 

 

1,217,982

 

1,522,784

 

None

 

None

 

1,217,982

 

1,522,784

 

2,740,766

 

63,057

 

 

 

12/21/2016

 

300

Orlando

 

FL

 

 

 

1,010,000

 

1,421,356

 

None

 

None

 

1,010,000

 

1,421,356

 

2,431,356

 

58,970

 

 

 

12/21/2016

 

300

Orlando

 

FL

 

 

 

1,290,000

 

955,589

 

None

 

None

 

1,290,000

 

955,589

 

2,245,589

 

39,650

 

 

 

12/21/2016

 

300

Oviedo

 

FL

 

 

 

950,897

 

1,184,654

 

None

 

None

 

950,897

 

1,184,654

 

2,135,551

 

49,038

 

 

 

12/21/2016

 

300

Palm Bay

 

FL

 

 

 

230,880

 

300,757

 

None

 

None

 

230,880

 

300,757

 

531,637

 

165,915

 

 

 

3/18/2004

 

300

Palm Beach Gardns

 

FL

 

 

 

2,040,000

 

1,121,312

 

None

 

None

 

2,040,000

 

1,121,312

 

3,161,312

 

46,050

 

 

 

12/21/2016

 

300

Palm Harbor

 

FL

 

 

 

510,000

 

381,637

 

None

 

None

 

510,000

 

381,637

 

891,637

 

210,534

 

 

 

3/18/2004

 

300

Panama City

 

FL

 

 

 

210,000

 

431,637

 

None

 

None

 

210,000

 

431,637

 

641,637

 

238,117

 

 

 

3/18/2004

 

300

Pensacola

 

FL

 

 

 

168,000

 

312,727

 

None

 

None

 

168,000

 

312,727

 

480,727

 

171,476

 

 

 

4/14/2004

 

300

Plantation

 

FL

 

 

 

2,260,000

 

1,617,690

 

None

 

None

 

2,260,000

 

1,617,690

 

3,877,690

 

66,819

 

 

 

12/21/2016

 

300

Port Charlotte

 

FL

 

 

 

170,000

 

311,637

 

None

 

None

 

170,000

 

311,637

 

481,637

 

171,917

 

 

 

3/18/2004

 

300

Port Charlotte

 

FL

 

 

 

200,000

 

356,637

 

None

 

None

 

200,000

 

356,637

 

556,637

 

196,742

 

 

 

3/18/2004

 

300

Port Orange

 

FL

 

 

 

609,438

 

512,199

 

None

 

None

 

609,438

 

512,199

 

1,121,637

 

282,560

 

 

 

3/18/2004

 

300

Port Saint Lucie

 

FL

 

 

 

1,050,000

 

1,968,282

 

None

 

None

 

1,050,000

 

1,968,282

 

3,018,282

 

81,445

 

 

 

12/21/2016

 

300

Punta Gorda

 

FL

 

 

 

400,000

 

511,637

 

None

 

None

 

400,000

 

511,637

 

911,637

 

282,250

 

 

 

3/18/2004

 

300

Riverview

 

FL

 

 

 

1,930,000

 

1,423,752

 

None

 

None

 

1,930,000

 

1,423,752

 

3,353,752

 

235,144

 

8/30/2013

 

8/13/2012

 

300

Sanford

 

FL

 

 

 

1,685,711

 

2,401,027

 

None

 

None

 

1,685,711

 

2,401,027

 

4,086,738

 

99,414

 

 

 

12/21/2016

 

300

Sarasota

 

FL

 

 

 

2,700,000

 

1,406,134

 

None

 

None

 

2,700,000

 

1,406,134

 

4,106,134

 

58,261

 

 

 

12/21/2016

 

300

Stuart

 

FL

 

 

 

2,103,649

 

2,620,787

 

None

 

None

 

2,103,649

 

2,620,787

 

4,724,436

 

108,486

 

 

 

12/21/2016

 

300

Tallahassee

 

FL

 

 

 

600,000

 

341,637

 

None

 

None

 

600,000

 

341,637

 

941,637

 

188,467

 

 

 

3/18/2004

 

300

Tamarac

 

FL

 

 

 

1,551,449

 

2,209,791

 

None

 

None

 

1,551,449

 

2,209,791

 

3,761,240

 

91,496

 

 

 

12/21/2016

 

300

Tampa

 

FL

 

 

 

300,000

 

301,637

 

None

 

None

 

300,000

 

301,637

 

601,637

 

166,400

 

 

 

3/18/2004

 

300

Tampa

 

FL

 

 

 

380,000

 

361,637

 

None

 

None

 

380,000

 

361,637

 

741,637

 

199,500

 

 

 

3/18/2004

 

300

Tampa

 

FL

 

 

 

320,000

 

591,637

 

None

 

None

 

320,000

 

591,637

 

911,637

 

326,384

 

 

 

3/18/2004

 

300

Webster

 

FL

 

 

 

640,000

 

1,071,637

 

None

 

None

 

640,000

 

1,071,637

 

1,711,637

 

591,184

 

 

 

3/18/2004

 

300

West Palm Beach

 

FL

 

 

 

1,080,645

 

1,351,079

 

None

 

None

 

1,080,645

 

1,351,079

 

2,431,724

 

55,947

 

 

 

12/21/2016

 

300

Winter Springs

 

FL

 

 

 

150,000

 

291,637

 

None

 

None

 

150,000

 

291,637

 

441,637

 

160,884

 

 

 

3/18/2004

 

300

Coral Springs

 

FL

 

 

 

842,439

 

1,049,534

 

None

 

None

 

842,439

 

1,049,534

 

1,891,973

 

43,445

 

 

 

12/21/2016

 

300

Augusta

 

GA

 

 

 

620,000

 

383,232

 

None

 

None

 

620,000

 

383,232

 

1,003,232

 

282,948

 

 

 

7/22/1999

 

300

Augusta

 

GA

 

 

 

540,000

 

337,853

 

None

 

None

 

540,000

 

337,853

 

877,853

 

249,444

 

 

 

7/22/1999

 

300

Augusta

 

GA

 

 

 

510,000

 

392,929

 

None

 

None

 

510,000

 

392,929

 

902,929

 

290,108

 

 

 

7/22/1999

 

300

Augusta

 

GA

 

 

 

180,000

 

422,020

 

None

 

None

 

180,000

 

422,020

 

602,020

 

311,588

 

 

 

7/22/1999

 

300

Augusta

 

GA

 

 

 

260,000

 

392,171

 

None

 

None

 

260,000

 

392,171

 

652,171

 

289,550

 

 

 

7/22/1999

 

300

Augusta

 

GA

 

 

 

240,000

 

451,637

 

None

 

None

 

240,000

 

451,637

 

691,637

 

249,150

 

 

 

3/18/2004

 

300

Calhoun

 

GA

 

 

 

122,500

 

228,742

 

None

 

None

 

122,500

 

228,742

 

351,242

 

129,995

 

 

 

10/16/2003

 

300

Calhoun

 

GA

 

 

 

262,500

 

488,742

 

None

 

None

 

262,500

 

488,742

 

751,242

 

277,762

 

 

 

10/16/2003

 

300

Cartersville

 

GA

 

 

 

262,500

 

488,742

 

None

 

None

 

262,500

 

488,742

 

751,242

 

277,762

 

 

 

10/16/2003

 

300

Chatsworth

 

GA

 

 

 

140,000

 

261,242

 

None

 

None

 

140,000

 

261,242

 

401,242

 

148,466

 

 

 

10/16/2003

 

300

Chatsworth

 

GA

 

 

 

140,000

 

261,242

 

None

 

None

 

140,000

 

261,242

 

401,242

 

148,466

 

 

 

10/16/2003

 

300

Chatsworth

 

GA

 

 

 

140,000

 

261,242

 

None

 

None

 

140,000

 

261,242

 

401,242

 

148,466

 

 

 

10/16/2003

 

300

Chickamauga

 

GA

 

 

 

181,731

 

338,742

 

None

 

None

 

181,731

 

338,742

 

520,473

 

192,512

 

 

 

10/16/2003

 

300

Dalton

 

GA

 

 

 

171,500

 

319,742

 

None

 

None

 

171,500

 

319,742

 

491,242

 

181,714

 

 

 

10/16/2003

 

300

Dalton

 

GA

 

 

 

87,500

 

163,742

 

None

 

None

 

87,500

 

163,742

 

251,242

 

93,054

 

 

 

10/16/2003

 

300

Dalton

 

GA

 

 

 

485,650

 

903,162

 

None

 

None

 

485,650

 

903,162

 

1,388,812

 

513,291

 

 

 

10/16/2003

 

300

Dalton

 

GA

 

 

 

146,000

 

272,385

 

None

 

None

 

146,000

 

272,385

 

418,385

 

154,799

 

 

 

10/16/2003

 

300

Dalton

 

GA

 

 

 

420,000

 

781,242

 

None

 

None

 

420,000

 

781,242

 

1,201,242

 

443,999

 

 

 

10/16/2003

 

300

Dalton

 

GA

 

 

 

210,000

 

391,242

 

None

 

None

 

210,000

 

391,242

 

601,242

 

222,349

 

 

 

10/16/2003

 

300

Dalton

 

GA

 

 

 

332,500

 

618,742

 

None

 

None

 

332,500

 

618,742

 

951,242

 

351,645

 

 

 

10/16/2003

 

300

Dalton

 

GA

 

 

 

437,500

 

813,742

 

None

 

None

 

437,500

 

813,742

 

1,251,242

 

462,470

 

 

 

10/16/2003

 

300

Decatur

 

GA

 

 

 

529,383

 

532,429

 

None

 

296

 

529,383

 

532,725

 

1,062,108

 

437,715

 

 

 

6/27/1997

 

300

Decatur

 

GA

 

 

 

1,622,631

 

2,865,162

 

856

 

None

 

1,622,631

 

2,866,018

 

4,488,649

 

568,678

 

 

 

1/22/2013

 

300

Dunwoody

 

GA

 

 

 

545,462

 

724,254

 

None

 

296

 

545,462

 

724,550

 

1,270,012

 

595,323

 

 

 

6/27/1997

 

300

Flintstone

 

GA

 

 

 

157,500

 

293,742

 

None

 

None

 

157,500

 

293,742

 

451,242

 

166,937

 

 

 

10/16/2003

 

300

La Fayette

 

GA

 

 

 

122,500

 

228,742

 

None

 

None

 

122,500

 

228,742

 

351,242

 

129,995

 

 

 

10/16/2003

 

300

Lithonia

 

GA

 

 

 

386,784

 

776,436

 

None

 

None

 

386,784

 

776,436

 

1,163,220

 

637,914

 

 

 

6/27/1997

 

300

Mableton

 

GA

 

 

 

491,069

 

355,957

 

None

 

None

 

491,069

 

355,957

 

847,026

 

292,430

 

 

 

6/27/1997

 

300

Martinez

 

GA

 

 

 

450,000

 

402,777

 

None

 

None

 

450,000

 

402,777

 

852,777

 

297,380

 

 

 

7/22/1999

 

300

Martinez

 

GA

 

 

 

830,000

 

871,637

 

None

 

None

 

830,000

 

871,637

 

1,701,637

 

480,850

 

 

 

3/18/2004

 

300

Norcross

 

GA

 

 

 

384,162

 

651,273

 

None

 

None

 

384,162

 

651,273

 

1,035,435

 

535,069

 

 

 

6/27/1997

 

300

Ringgold

 

GA

 

 

 

234,500

 

1,168,914

 

(7,829

)

None

 

226,671

 

1,168,914

 

1,395,585

 

613,103

 

 

 

10/16/2003

 

300

Ringgold

 

GA

 

 

 

385,000

 

716,242

 

(21,175

)

None

 

363,825

 

716,242

 

1,080,067

 

407,058

 

 

 

10/16/2003

 

300

Ringgold

 

GA

 

 

 

482,251

 

896,851

 

None

 

None

 

482,251

 

896,851

 

1,379,102

 

509,704

 

 

 

10/16/2003

 

300

Rocky Face

 

GA

 

 

 

164,231

 

306,241

 

None

 

None

 

164,231

 

306,241

 

470,472

 

174,041

 

 

 

10/16/2003

 

300

Rome

 

GA

 

 

 

210,000

 

391,242

 

None

 

None

 

210,000

 

391,242

 

601,242

 

222,349

 

 

 

10/16/2003

 

300

Rome

 

GA

 

 

 

199,199

 

371,183

 

None

 

None

 

199,199

 

371,183

 

570,382

 

210,949

 

 

 

10/16/2003

 

300

Rome

 

GA

 

 

 

201,791

 

375,997

 

(22,030

)

None

 

179,761

 

375,997

 

555,758

 

213,686

 

 

 

10/16/2003

 

300

Rome

 

GA

 

 

 

315,000

 

586,242

 

None

 

None

 

315,000

 

586,242

 

901,242

 

333,174

 

 

 

10/16/2003

 

300

Rossville

 

GA

 

 

 

157,500

 

293,742

 

None

 

None

 

157,500

 

293,742

 

451,242

 

166,937

 

 

 

10/16/2003

 

300

Summerville

 

GA

 

 

 

66,231

 

124,242

 

None

 

None

 

66,231

 

124,242

 

190,473

 

70,605

 

 

 

10/16/2003

 

300

Trenton

 

GA

 

 

 

129,231

 

241,242

 

None

 

None

 

129,231

 

241,242

 

370,473

 

137,100

 

 

 

10/16/2003

 

300

Adair

 

IA

 

 

 

779,853

 

1,377,027

 

411

 

None

 

779,853

 

1,377,438

 

2,157,291

 

273,313

 

 

 

1/22/2013

 

300

Ankeny

 

IA

 

 

 

1,050,000

 

1,848,552

 

None

 

None

 

1,050,000

 

1,848,552

 

2,898,552

 

40,052

 

 

 

6/30/2017

 

300

Neola

 

IA

 

 

 

784,675

 

1,385,540

 

414

 

None

 

784,675

 

1,385,954

 

2,170,629

 

275,002

 

 

 

1/22/2013

 

300

Norwalk

 

IA

 

 

 

500,000

 

1,268,448

 

None

 

None

 

500,000

 

1,268,448

 

1,768,448

 

27,483

 

 

 

6/30/2017

 

300

Belvidere

 

IL

 

 

 

768,748

 

1,426,176

 

1,500

 

None

 

768,748

 

1,427,676

 

2,196,424

 

459,953

 

 

 

12/28/2009

 

300

Dekalb

 

IL

 

 

 

661,500

 

1,226,500

 

2,000

 

None

 

661,500

 

1,228,500

 

1,890,000

 

396,124

 

 

 

12/28/2009

 

300

Godfrey

 

IL

 

 

 

374,586

 

733,190

 

None

 

None

 

374,586

 

733,190

 

1,107,776

 

602,373

 

 

 

6/27/1997

 

300

Granite City

 

IL

 

 

 

362,287

 

737,255

 

None

 

None

 

362,287

 

737,255

 

1,099,542

 

605,715

 

 

 

6/27/1997

 

300

Hartford

 

IL

 

 

 

599,172

 

1,110,747

 

2,000

 

None

 

599,172

 

1,112,747

 

1,711,919

 

358,890

 

 

 

12/28/2009

 

300

Loves Park

 

IL

 

 

 

547,582

 

1,016,523

 

1,500

 

None

 

547,582

 

1,018,023

 

1,565,605

 

409,802

 

 

 

12/20/2007

 

300

Loves Park

 

IL

 

 

 

760,725

 

1,410,775

 

2,000

 

None

 

760,725

 

1,412,775

 

2,173,500

 

455,399

 

 

 

12/28/2009

 

300

Machesney Park

 

IL

 

 

 

562,275

 

1,043,225

 

1,000

 

None

 

562,275

 

1,044,225

 

1,606,500

 

336,371

 

 

 

12/28/2009

 

300

Marengo

 

IL

 

 

 

501,948

 

930,688

 

1,500

 

None

 

501,948

 

932,188

 

1,434,136

 

300,571

 

 

 

12/28/2009

 

300

Monee

 

IL

 

 

 

918,332

 

1,148,146

 

None

 

None

 

918,332

 

1,148,146

 

2,066,478

 

47,543

 

 

 

12/21/2016

 

300

Rochelle

 

IL

 

 

 

607,418

 

1,128,145

 

1,000

 

None

 

607,418

 

1,129,145

 

1,736,563

 

454,137

 

 

 

12/20/2007

 

300

Rockford

 

IL

 

 

 

463,050

 

858,450

 

1,500

 

None

 

463,050

 

859,950

 

1,323,000

 

277,335

 

 

 

12/28/2009

 

300

Rockford

 

IL

 

 

 

388,631

 

720,244

 

1,500

 

None

 

388,631

 

721,744

 

1,110,375

 

232,878

 

 

 

12/28/2009

 

300

Tuscola

 

IL

 

 

 

752,456

 

1,394,419

 

3,000

 

None

 

752,456

 

1,397,419

 

2,149,875

 

450,938

 

 

 

12/28/2009

 

300

Albany

 

IN

 

 

 

427,437

 

794,632

 

2,000

 

None

 

427,437

 

796,632

 

1,224,069

 

339,715

 

 

 

5/25/2007

 

300

Alexandria

 

IN

 

 

 

139,219

 

259,369

 

None

 

None

 

139,219

 

259,369

 

398,588

 

110,229

 

 

 

5/25/2007

 

300

Anderson

 

IN

 

 

 

147,263

 

274,307

 

None

 

None

 

147,263

 

274,307

 

421,570

 

116,577

 

 

 

5/25/2007

 

300

Anderson

 

IN

 

 

 

283,430

 

527,190

 

2,000

 

None

 

283,430

 

529,190

 

812,620

 

226,052

 

 

 

5/25/2007

 

300

Elkhart

 

IN

 

 

 

495,914

 

922,471

 

1,500

 

None

 

495,914

 

923,971

 

1,419,885

 

393,547

 

 

 

5/25/2007

 

300

Frankfort

 

IN

 

 

 

208,666

 

388,345

 

2,000

 

None

 

208,666

 

390,345

 

599,011

 

167,043

 

 

 

5/25/2007

 

300

Greenwood

 

IN

 

 

 

173,250

 

323,022

 

None

 

None

 

173,250

 

323,022

 

496,272

 

137,281

 

 

 

5/25/2007

 

300

Hartford City

 

IN

 

 

 

250,310

 

465,702

 

2,000

 

None

 

250,310

 

467,702

 

718,012

 

199,920

 

 

 

5/25/2007

 

300

Indianapolis

 

IN

 

 

 

129,938

 

242,134

 

None

 

None

 

129,938

 

242,134

 

372,072

 

102,904

 

 

 

5/25/2007

 

300

Indianapolis

 

IN

 

 

 

269,294

 

500,939

 

1,500

 

None

 

269,294

 

502,439

 

771,733

 

214,396

 

 

 

5/25/2007

 

300

Indianapolis

 

IN

 

 

 

318,432

 

592,193

 

1,500

 

None

 

318,432

 

593,693

 

912,125

 

253,179

 

 

 

5/25/2007

 

300

Knox

 

IN

 

 

 

341,250

 

633,499

 

1,500

 

None

 

341,250

 

634,999

 

976,249

 

260,179

 

 

 

10/9/2007

 

300

Lafayette

 

IN

 

 

 

147,263

 

274,309

 

None

 

None

 

147,263

 

274,309

 

421,572

 

116,578

 

 

 

5/25/2007

 

300

Lafayette

 

IN

 

 

 

112,613

 

209,959

 

None

 

None

 

112,613

 

209,959

 

322,572

 

89,229

 

 

 

5/25/2007

 

300

Marion

 

IN

 

 

 

209,196

 

389,995

 

1,500

 

None

 

209,196

 

391,495

 

600,691

 

167,245

 

 

 

5/25/2007

 

300

Michigan City

 

IN

 

 

 

227,500

 

422,249

 

1,500

 

None

 

227,500

 

423,749

 

651,249

 

173,918

 

 

 

10/9/2007

 

300

Mishawaka

 

IN

 

 

 

123,983

 

231,743

 

2,000

 

None

 

123,983

 

233,743

 

357,726

 

100,487

 

 

 

5/25/2007

 

300

Morristown

 

IN

 

 

 

366,590

 

682,082

 

2,000

 

None

 

366,590

 

684,082

 

1,050,672

 

291,881

 

 

 

5/25/2007

 

300

Muncie

 

IN

 

 

 

103,950

 

193,870

 

None

 

None

 

103,950

 

193,870

 

297,820

 

82,391

 

 

 

5/25/2007

 

300

Muncie

 

IN

 

 

 

184,237

 

342,974

 

2,000

 

None

 

184,237

 

344,974

 

529,211

 

147,761

 

 

 

5/25/2007

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New Albany

 

IN

 

 

 

181,459

 

289,353

 

None

 

None

 

181,459

 

289,353

 

470,812

 

263,794

 

 

 

3/3/1995

 

300

New Albany

 

IN

 

 

 

262,465

 

331,796

 

None

 

None

 

262,465

 

331,796

 

594,261

 

302,487

 

 

 

3/6/1995

 

300

New Castle

 

IN

 

 

 

138,600

 

258,672

 

None

 

None

 

138,600

 

258,672

 

397,272

 

109,932

 

 

 

5/25/2007

 

300

New Castle

 

IN

 

 

 

79,854

 

149,572

 

1,000

 

None

 

79,854

 

150,572

 

230,426

 

64,565

 

 

 

5/25/2007

 

300

New Castle

 

IN

 

 

 

203,941

 

380,019

 

1,500

 

None

 

203,941

 

381,519

 

585,460

 

163,005

 

 

 

5/25/2007

 

300

Richmond

 

IN

 

 

 

281,248

 

523,589

 

1,500

 

None

 

281,248

 

525,089

 

806,337

 

224,022

 

 

 

5/25/2007

 

300

Richmond

 

IN

 

 

 

255,908

 

476,528

 

2,000

 

None

 

255,908

 

478,528

 

734,436

 

204,521

 

 

 

5/25/2007

 

300

Rushville

 

IN

 

 

 

138,600

 

258,672

 

None

 

None

 

138,600

 

258,672

 

397,272

 

109,932

 

 

 

5/25/2007

 

300

Rushville

 

IN

 

 

 

121,275

 

226,497

 

None

 

None

 

121,275

 

226,497

 

347,772

 

96,258

 

 

 

5/25/2007

 

300

South Bend

 

IN

 

 

 

372,387

 

693,064

 

2,000

 

None

 

372,387

 

695,064

 

1,067,451

 

296,549

 

 

 

5/25/2007

 

300

Wabash

 

IN

 

 

 

430,437

 

800,871

 

2,000

 

None

 

430,437

 

802,871

 

1,233,308

 

342,367

 

 

 

5/25/2007

 

300

Wabash

 

IN

 

 

 

334,923

 

623,488

 

1,500

 

13

 

334,923

 

625,001

 

959,924

 

266,491

 

 

 

5/25/2007

 

300

Warsaw

 

IN

 

 

 

415,275

 

772,713

 

1,500

 

13

 

415,275

 

774,226

 

1,189,501

 

329,911

 

 

 

5/25/2007

 

300

West Lafayette

 

IN

 

 

 

1,052,628

 

1,340,855

 

2,000

 

None

 

1,052,628

 

1,342,855

 

2,395,483

 

571,637

 

 

 

5/25/2007

 

300

Zionsville

 

IN

 

 

 

910,595

 

1,691,926

 

2,000

 

None

 

910,595

 

1,693,926

 

2,604,521

 

721,066

 

 

 

5/25/2007

 

300

Berea

 

KY

 

 

 

252,077

 

360,815

 

None

 

None

 

252,077

 

360,815

 

612,892

 

328,943

 

 

 

3/8/1995

 

300

Elizabethtown

 

KY

 

 

 

286,106

 

286,106

 

None

 

93,004

 

286,106

 

379,110

 

665,216

 

264,559

 

 

 

3/3/1995

 

300

Lebanon

 

KY

 

 

 

158,052

 

316,105

 

None

 

153

 

158,052

 

316,258

 

474,310

 

288,335

 

 

 

3/3/1995

 

300

Louisville

 

KY

 

 

 

198,926

 

368,014

 

None

 

None

 

198,926

 

368,014

 

566,940

 

335,506

 

 

 

3/3/1995

 

300

Louisville

 

KY

 

 

 

216,849

 

605,697

 

None

 

None

 

216,849

 

605,697

 

822,546

 

521,775

 

6/18/1996

 

11/17/1995

 

300

Mount Washington

 

KY

 

 

 

327,245

 

479,593

 

None

 

None

 

327,245

 

479,593

 

806,838

 

405,288

 

12/6/1996

 

5/31/1996

 

300

Baton Rouge

 

LA

 

 

 

500,000

 

521,637

 

None

 

None

 

500,000

 

521,637

 

1,021,637

 

287,767

 

 

 

3/18/2004

 

300

Baton Rouge

 

LA

 

 

 

210,000

 

361,637

 

None

 

None

 

210,000

 

361,637

 

571,637

 

199,500

 

 

 

3/18/2004

 

300

Bossier City

 

LA

 

 

 

230,000

 

431,637

 

None

 

None

 

230,000

 

431,637

 

661,637

 

238,117

 

 

 

3/18/2004

 

300

Destrehan

 

LA

 

 

 

200,000

 

411,637

 

None

 

None

 

200,000

 

411,637

 

611,637

 

227,084

 

 

 

3/18/2004

 

300

Lafayette

 

LA

 

 

 

240,000

 

391,637

 

None

 

None

 

240,000

 

391,637

 

631,637

 

216,050

 

 

 

3/18/2004

 

300

Pineville

 

LA

 

 

 

170,000

 

371,637

 

None

 

None

 

170,000

 

371,637

 

541,637

 

205,017

 

 

 

3/18/2004

 

300

Shreveport

 

LA

 

 

 

192,500

 

358,227

 

None

 

None

 

192,500

 

358,227

 

550,727

 

196,425

 

 

 

4/14/2004

 

300

Amherst

 

MA

 

 

 

110,969

 

639,806

 

None

 

None

 

110,969

 

639,806

 

750,775

 

367,888

 

 

 

8/18/2003

 

300

North Reading

 

MA

 

 

 

574,601

 

756,174

 

None

 

None

 

574,601

 

756,174

 

1,330,775

 

434,800

 

 

 

8/18/2003

 

300

Seekonk

 

MA

 

 

 

298,354

 

268,518

 

None

 

None

 

298,354

 

268,518

 

566,872

 

244,799

 

 

 

3/3/1995

 

300

Berlin

 

MD

 

 

 

255,951

 

387,395

 

None

 

None

 

255,951

 

387,395

 

643,346

 

229,201

 

 

 

3/19/2003

 

300

Crisfield

 

MD

 

 

 

219,704

 

333,024

 

None

 

None

 

219,704

 

333,024

 

552,728

 

197,032

 

 

 

3/19/2003

 

300

Hebron

 

MD

 

 

 

376,251

 

567,844

 

None

 

None

 

376,251

 

567,844

 

944,095

 

335,967

 

 

 

3/19/2003

 

300

La Plata

 

MD

 

 

 

1,017,544

 

2,706,729

 

None

 

None

 

1,017,544

 

2,706,729

 

3,724,273

 

1,664,391

 

 

 

8/6/2002

 

300

Laurel

 

MD

 

 

 

390,000

 

1,653,440

 

None

 

None

 

390,000

 

1,653,440

 

2,043,440

 

68,893

 

 

 

12/21/2016

 

300

Mechanicsville

 

MD

 

 

 

1,540,335

 

2,860,928

 

None

 

None

 

1,540,335

 

2,860,928

 

4,401,263

 

1,778,484

 

 

 

6/27/2002

 

300

Millersville

 

MD

 

 

 

830,737

 

2,696,245

 

None

 

None

 

830,737

 

2,696,245

 

3,526,982

 

1,676,212

 

 

 

6/27/2002

 

300

Breckenridge

 

MI

 

 

 

437,500

 

811,968

 

1,500

 

None

 

437,500

 

813,468

 

1,250,968

 

333,054

 

 

 

10/9/2007

 

300

Carson City

 

MI

 

 

 

262,500

 

486,468

 

2,000

 

None

 

262,500

 

488,468

 

750,968

 

200,641

 

 

 

10/9/2007

 

300

Charlevoix

 

MI

 

 

 

385,000

 

713,013

 

2,500

 

None

 

385,000

 

715,513

 

1,100,513

 

293,647

 

 

 

10/9/2007

 

300

Cheboygan

 

MI

 

 

 

280,000

 

518,013

 

2,500

 

None

 

280,000

 

520,513

 

800,513

 

214,022

 

 

 

10/9/2007

 

300

Clare

 

MI

 

 

 

306,250

 

567,718

 

2,000

 

None

 

306,250

 

569,718

 

875,968

 

233,818

 

 

 

10/9/2007

 

300

Clare

 

MI

 

 

 

229,250

 

426,218

 

500

 

None

 

229,250

 

426,718

 

655,968

 

174,539

 

 

 

10/9/2007

 

300

Comstock Park

 

MI

 

 

 

315,000

 

583,761

 

2,500

 

None

 

315,000

 

586,261

 

901,261

 

240,869

 

 

 

10/9/2007

 

300

Farwell

 

MI

 

 

 

437,500

 

811,468

 

2,000

 

None

 

437,500

 

813,468

 

1,250,968

 

333,350

 

 

 

10/9/2007

 

300

Flint

 

MI

 

 

 

194,492

 

476,504

 

None

 

139

 

194,492

 

476,643

 

671,135

 

420,257

 

 

 

12/21/1995

 

300

Gladwin

 

MI

 

 

 

140,000

 

259,013

 

1,500

 

None

 

140,000

 

260,513

 

400,513

 

107,264

 

 

 

10/9/2007

 

300

Grand Rapids

 

MI

 

 

 

437,500

 

812,261

 

1,500

 

None

 

437,500

 

813,761

 

1,251,261

 

333,173

 

 

 

10/9/2007

 

300

Kalamazoo

 

MI

 

 

 

238,000

 

442,249

 

1,000

 

None

 

238,000

 

443,249

 

681,249

 

181,585

 

 

 

10/9/2007

 

300

Kalkaska

 

MI

 

 

 

437,500

 

809,513

 

3,500

 

None

 

437,500

 

813,013

 

1,250,513

 

334,051

 

 

 

10/9/2007

 

300

Lake City

 

MI

 

 

 

115,500

 

213,513

 

1,500

 

None

 

115,500

 

215,013

 

330,513

 

88,685

 

 

 

10/9/2007

 

300

Lakeview

 

MI

 

 

 

96,250

 

177,718

 

2,000

 

None

 

96,250

 

179,718

 

275,968

 

74,568

 

 

 

10/9/2007

 

300

Mackinaw City

 

MI

 

 

 

455,000

 

844,513

 

1,000

 

None

 

455,000

 

845,513

 

1,300,513

 

345,843

 

 

 

10/9/2007

 

300

Mecosta

 

MI

 

 

 

122,500

 

227,468

 

1,000

 

None

 

122,500

 

228,468

 

350,968

 

93,883

 

 

 

10/9/2007

 

300

Midland

 

MI

 

 

 

437,500

 

811,013

 

2,000

 

None

 

437,500

 

813,013

 

1,250,513

 

333,164

 

 

 

10/9/2007

 

300

Mount Pleasant

 

MI

 

 

 

162,750

 

300,794

 

2,500

 

13

 

162,750

 

303,307

 

466,057

 

125,334

 

 

 

10/9/2007

 

300

Mount Pleasant

 

MI

 

 

 

463,750

 

860,718

 

1,500

 

None

 

463,750

 

862,218

 

1,325,968

 

352,960

 

 

 

10/9/2007

 

300

Mount Pleasant

 

MI

 

 

 

210,000

 

388,968

 

2,000

 

None

 

210,000

 

390,968

 

600,968

 

160,829

 

 

 

10/9/2007

 

300

Mount Pleasant

 

MI

 

 

 

437,500

 

810,968

 

2,500

 

None

 

437,500

 

813,468

 

1,250,968

 

333,645

 

 

 

10/9/2007

 

300

Mount Pleasant

 

MI

 

 

 

350,000

 

649,468

 

1,500

 

None

 

350,000

 

650,968

 

1,000,968

 

266,700

 

 

 

10/9/2007

 

300

Mount Pleasant

 

MI

 

 

 

175,000

 

324,468

 

1,500

 

None

 

175,000

 

325,968

 

500,968

 

133,991

 

 

 

10/9/2007

 

300

Petoskey

 

MI

 

 

 

490,000

 

909,513

 

1,000

 

None

 

490,000

 

910,513

 

1,400,513

 

372,385

 

 

 

10/9/2007

 

300

Prudenville

 

MI

 

 

 

133,000

 

245,013

 

2,500

 

None

 

133,000

 

247,513

 

380,513

 

102,547

 

 

 

10/9/2007

 

300

Saginaw

 

MI

 

 

 

262,500

 

486,513

 

1,500

 

None

 

262,500

 

488,013

 

750,513

 

200,160

 

 

 

10/9/2007

 

300

Standish

 

MI

 

 

 

92,750

 

171,263

 

1,500

 

None

 

92,750

 

172,763

 

265,513

 

71,432

 

 

 

10/9/2007

 

300

Traverse City

 

MI

 

 

 

210,000

 

389,002

 

2,000

 

None

 

210,000

 

391,002

 

601,002

 

160,842

 

 

 

10/9/2007

 

300

Walker

 

MI

 

 

 

586,250

 

1,088,499

 

1,500

 

None

 

586,250

 

1,089,999

 

1,676,249

 

445,971

 

 

 

10/9/2007

 

300

Alexandria

 

MN

 

 

 

132,924

 

244,858

 

2,000

 

None

 

132,924

 

246,858

 

379,782

 

70,385

 

 

 

12/1/2010

 

300

Andover

 

MN

 

 

 

888,706

 

1,648,454

 

2,000

 

None

 

888,706

 

1,650,454

 

2,539,160

 

465,731

 

 

 

12/1/2010

 

300

Apple Valley

 

MN

 

 

 

350,000

 

648,000

 

2,000

 

None

 

350,000

 

650,000

 

1,000,000

 

183,937

 

 

 

12/1/2010

 

300

Baxter

 

MN

 

 

 

350,000

 

648,000

 

2,000

 

None

 

350,000

 

650,000

 

1,000,000

 

183,937

 

 

 

12/1/2010

 

300

Blaine

 

MN

 

 

 

767,270

 

1,422,929

 

2,000

 

None

 

767,270

 

1,424,929

 

2,192,199

 

402,208

 

 

 

12/1/2010

 

300

Bloomington

 

MN

 

 

 

262,500

 

485,500

 

2,000

 

None

 

262,500

 

487,500

 

750,000

 

138,166

 

 

 

12/1/2010

 

300

Bloomington

 

MN

 

 

 

676,771

 

1,255,359

 

1,500

 

None

 

676,771

 

1,256,859

 

1,933,630

 

354,655

 

 

 

12/1/2010

 

300

Brainerd

 

MN

 

 

 

490,000

 

907,000

 

3,000

 

None

 

490,000

 

910,000

 

1,400,000

 

257,597

 

 

 

12/1/2010

 

300

Brooklyn Center

 

MN

 

 

 

979,764

 

1,818,061

 

1,500

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,150

 

 

 

12/1/2010

 

300

Brooklyn Center

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Brooklyn Center

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Brooklyn Park

 

MN

 

 

 

830,336

 

1,540,052

 

2,000

 

None

 

830,336

 

1,542,052

 

2,372,388

 

435,198

 

 

 

12/1/2010

 

300

Brooklyn Park

 

MN

 

 

 

578,964

 

1,073,220

 

2,000

 

None

 

578,964

 

1,075,220

 

1,654,184

 

303,707

 

 

 

12/1/2010

 

300

Brooklyn Park

 

MN

 

 

 

750,697

 

1,391,651

 

2,500

 

None

 

750,697

 

1,394,151

 

2,144,848

 

258,622

 

 

 

5/1/2013

 

300

Burnsville

 

MN

 

 

 

615,240

 

1,141,089

 

1,500

 

None

 

615,240

 

1,142,589

 

1,757,829

 

322,469

 

 

 

12/1/2010

 

300

Burnsville

 

MN

 

 

 

515,298

 

954,981

 

2,000

 

None

 

515,298

 

956,981

 

1,472,279

 

270,403

 

 

 

12/1/2010

 

300

Burnsville

 

MN

 

 

 

350,000

 

648,000

 

2,000

 

None

 

350,000

 

650,000

 

1,000,000

 

183,937

 

 

 

12/1/2010

 

300

Burnsville

 

MN

 

 

 

932,558

 

1,729,892

 

2,000

 

None

 

932,558

 

1,731,892

 

2,664,450

 

488,670

 

 

 

12/1/2010

 

300

Chaska

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Chaska

 

MN

 

 

 

490,000

 

908,000

 

2,000

 

None

 

490,000

 

910,000

 

1,400,000

 

257,170

 

 

 

12/1/2010

 

300

Chaska

 

MN

 

 

 

410,797

 

760,408

 

2,500

 

None

 

410,797

 

762,908

 

1,173,705

 

141,842

 

 

 

5/1/2013

 

300

Columbia Heights

 

MN

 

 

 

673,068

 

1,248,483

 

1,500

 

None

 

673,068

 

1,249,983

 

1,923,051

 

352,719

 

 

 

12/1/2010

 

300

Coon Rapids

 

MN

 

 

 

490,000

 

908,000

 

2,000

 

None

 

490,000

 

910,000

 

1,400,000

 

257,170

 

 

 

12/1/2010

 

300

Cottage Grove

 

MN

 

 

 

805,888

 

1,494,650

 

2,000

 

None

 

805,888

 

1,496,650

 

2,302,538

 

422,410

 

 

 

12/1/2010

 

300

Crystal

 

MN

 

 

 

552,641

 

1,024,332

 

2,000

 

None

 

552,641

 

1,026,332

 

1,578,973

 

289,937

 

 

 

12/1/2010

 

300

Crystal

 

MN

 

 

 

740,518

 

1,373,248

 

2,000

 

None

 

740,518

 

1,375,248

 

2,115,766

 

388,215

 

 

 

12/1/2010

 

300

Eagan

 

MN

 

 

 

906,287

 

1,680,604

 

2,500

 

None

 

906,287

 

1,683,104

 

2,589,391

 

475,141

 

 

 

12/1/2010

 

300

Eagan

 

MN

 

 

 

699,277

 

1,296,658

 

2,000

 

None

 

699,277

 

1,298,658

 

1,997,935

 

366,642

 

 

 

12/1/2010

 

300

Eden Prairie

 

MN

 

 

 

947,702

 

1,758,519

 

1,500

 

None

 

947,702

 

1,760,019

 

2,707,721

 

496,379

 

 

 

12/1/2010

 

300

Eden Prairie

 

MN

 

 

 

485,526

 

899,690

 

2,000

 

None

 

485,526

 

901,690

 

1,387,216

 

254,829

 

 

 

12/1/2010

 

300

Edina

 

MN

 

 

 

568,893

 

1,054,516

 

2,000

 

None

 

568,893

 

1,056,516

 

1,625,409

 

298,439

 

 

 

12/1/2010

 

300

Elk River

 

MN

 

 

 

613,113

 

1,137,137

 

1,500

 

None

 

613,113

 

1,138,637

 

1,751,750

 

321,356

 

 

 

12/1/2010

 

300

Elk River

 

MN

 

 

 

456,850

 

846,435

 

2,000

 

None

 

456,850

 

848,435

 

1,305,285

 

239,829

 

 

 

12/1/2010

 

300

Excelsior

 

MN

 

 

 

262,500

 

485,500

 

2,000

 

None

 

262,500

 

487,500

 

750,000

 

138,166

 

 

 

12/1/2010

 

300

Falcon Heights

 

MN

 

 

 

494,415

 

916,199

 

2,000

 

None

 

494,415

 

918,199

 

1,412,614

 

259,479

 

 

 

12/1/2010

 

300

Farmington

 

MN

 

 

 

437,500

 

810,500

 

2,000

 

None

 

437,500

 

812,500

 

1,250,000

 

229,708

 

 

 

12/1/2010

 

300

Forest Lake

 

MN

 

 

 

398,985

 

739,473

 

1,500

 

None

 

398,985

 

740,973

 

1,139,958

 

209,347

 

 

 

12/1/2010

 

300

Fridley

 

MN

 

 

 

519,325

 

962,461

 

2,000

 

None

 

519,325

 

964,461

 

1,483,786

 

272,510

 

 

 

12/1/2010

 

300

Fridley

 

MN

 

 

 

706,295

 

1,309,691

 

2,000

 

None

 

706,295

 

1,311,691

 

2,017,986

 

370,313

 

 

 

12/1/2010

 

300

Fridley

 

MN

 

 

 

175,000

 

323,000

 

2,000

 

None

 

175,000

 

325,000

 

500,000

 

92,395

 

 

 

12/1/2010

 

300

Golden Valley

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Ham Lake

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Hastings

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Inver Grove Heigh

 

MN

 

 

 

134,705

 

248,666

 

1,500

 

None

 

134,705

 

250,166

 

384,871

 

71,103

 

 

 

12/1/2010

 

300

Inver Grove Heigh

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Lakeville

 

MN

 

 

 

631,855

 

1,171,446

 

2,000

 

None

 

631,855

 

1,173,446

 

1,805,301

 

331,374

 

 

 

12/1/2010

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lakeville

 

MN

 

 

 

654,912

 

1,214,266

 

2,000

 

None

 

654,912

 

1,216,266

 

1,871,178

 

343,435

 

 

 

12/1/2010

 

300

Litchfield

 

MN

 

 

 

388,788

 

720,536

 

1,500

 

None

 

388,788

 

722,036

 

1,110,824

 

204,013

 

 

 

12/1/2010

 

300

Little Falls

 

MN

 

 

 

175,000

 

323,500

 

1,500

 

None

 

175,000

 

325,000

 

500,000

 

92,182

 

 

 

12/1/2010

 

300

Long Lake

 

MN

 

 

 

808,543

 

1,499,579

 

2,000

 

None

 

808,543

 

1,501,579

 

2,310,122

 

423,798

 

 

 

12/1/2010

 

300

Maplewood

 

MN

 

 

 

931,427

 

1,728,293

 

1,500

 

None

 

931,427

 

1,729,793

 

2,661,220

 

487,865

 

 

 

12/1/2010

 

300

Maplewood

 

MN

 

 

 

175,000

 

323,000

 

2,000

 

None

 

175,000

 

325,000

 

500,000

 

92,395

 

 

 

12/1/2010

 

300

Mendota Heights

 

MN

 

 

 

827,026

 

1,533,906

 

2,000

 

None

 

827,026

 

1,535,906

 

2,362,932

 

433,467

 

 

 

12/1/2010

 

300

Mendota Heights

 

MN

 

 

 

717,808

 

1,331,072

 

2,000

 

None

 

717,808

 

1,333,072

 

2,050,880

 

376,335

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

967,640

 

1,795,045

 

2,000

 

None

 

967,640

 

1,797,045

 

2,764,685

 

507,021

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

856,122

 

1,587,941

 

2,000

 

None

 

856,122

 

1,589,941

 

2,446,063

 

448,687

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

938,237

 

1,740,440

 

2,000

 

None

 

938,237

 

1,742,440

 

2,680,677

 

491,641

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

365,977

 

678,171

 

1,500

 

None

 

365,977

 

679,671

 

1,045,648

 

192,081

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

738,535

 

1,370,064

 

1,500

 

None

 

738,535

 

1,371,564

 

2,110,099

 

386,964

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

811,510

 

1,505,590

 

1,500

 

None

 

811,510

 

1,507,090

 

2,318,600

 

425,137

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

539,242

 

999,450

 

2,000

 

None

 

539,242

 

1,001,450

 

1,540,692

 

282,928

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

577,070

 

1,069,702

 

2,000

 

None

 

577,070

 

1,071,702

 

1,648,772

 

302,716

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

175,000

 

323,500

 

1,500

 

None

 

175,000

 

325,000

 

500,000

 

92,182

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

175,000

 

323,000

 

2,000

 

None

 

175,000

 

325,000

 

500,000

 

92,395

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

350,000

 

648,500

 

1,500

 

None

 

350,000

 

650,000

 

1,000,000

 

183,723

 

 

 

12/1/2010

 

300

Minneapolis

 

MN

 

 

 

759,822

 

1,409,597

 

1,500

 

None

 

759,822

 

1,411,097

 

2,170,919

 

398,099

 

 

 

12/1/2010

 

300

Minnetonka

 

MN

 

 

 

582,162

 

1,079,158

 

2,000

 

None

 

582,162

 

1,081,158

 

1,663,320

 

200,578

 

 

 

5/1/2013

 

300

Monticello

 

MN

 

 

 

589,643

 

1,093,051

 

2,000

 

None

 

589,643

 

1,095,051

 

1,684,694

 

309,293

 

 

 

12/1/2010

 

300

Mounds View

 

MN

 

 

 

743,926

 

1,379,578

 

2,000

 

None

 

743,926

 

1,381,578

 

2,125,504

 

389,998

 

 

 

12/1/2010

 

300

New Brighton

 

MN

 

 

 

585,039

 

1,085,002

 

1,500

 

None

 

585,039

 

1,086,502

 

1,671,541

 

306,671

 

 

 

12/1/2010

 

300

New Hope

 

MN

 

 

 

175,000

 

323,500

 

1,500

 

None

 

175,000

 

325,000

 

500,000

 

92,182

 

 

 

12/1/2010

 

300

Newport

 

MN

 

 

 

967,228

 

1,794,280

 

2,000

 

None

 

967,228

 

1,796,280

 

2,763,508

 

506,806

 

 

 

12/1/2010

 

300

Oak Park Heights

 

MN

 

 

 

635,158

 

1,177,579

 

2,000

 

None

 

635,158

 

1,179,579

 

1,814,737

 

333,101

 

 

 

12/1/2010

 

300

Pine City

 

MN

 

 

 

644,412

 

1,194,265

 

2,500

 

None

 

644,412

 

1,196,765

 

1,841,177

 

338,155

 

 

 

12/1/2010

 

300

Princeton

 

MN

 

 

 

546,257

 

1,012,476

 

2,000

 

None

 

546,257

 

1,014,476

 

1,560,733

 

286,597

 

 

 

12/1/2010

 

300

Ramsey

 

MN

 

 

 

650,205

 

1,205,523

 

2,000

 

None

 

650,205

 

1,207,523

 

1,857,728

 

340,972

 

 

 

12/1/2010

 

300

Richfield

 

MN

 

 

 

630,540

 

1,169,003

 

2,000

 

None

 

630,540

 

1,171,003

 

1,801,543

 

330,686

 

 

 

12/1/2010

 

300

Richfield

 

MN

 

 

 

678,216

 

1,257,543

 

2,000

 

None

 

678,216

 

1,259,543

 

1,937,759

 

355,625

 

 

 

12/1/2010

 

300

Richfield

 

MN

 

 

 

436,919

 

809,921

 

1,500

 

None

 

436,919

 

811,421

 

1,248,340

 

229,190

 

 

 

12/1/2010

 

300

Richfield

 

MN

 

 

 

839,497

 

1,557,065

 

2,000

 

None

 

839,497

 

1,559,065

 

2,398,562

 

439,990

 

 

 

12/1/2010

 

300

Rogers

 

MN

 

 

 

781,303

 

1,448,991

 

2,000

 

None

 

781,303

 

1,450,991

 

2,232,294

 

409,549

 

 

 

12/1/2010

 

300

Roseville

 

MN

 

 

 

403,786

 

748,387

 

1,500

 

None

 

403,786

 

749,887

 

1,153,673

 

211,858

 

 

 

12/1/2010

 

300

Roseville

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Roseville

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Roseville

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Saint Cloud

 

MN

 

 

 

786,129

 

1,458,454

 

1,500

 

None

 

786,129

 

1,459,954

 

2,246,083

 

411,860

 

 

 

12/1/2010

 

300

Saint Cloud

 

MN

 

 

 

175,000

 

322,000

 

3,000

 

None

 

175,000

 

325,000

 

500,000

 

92,822

 

 

 

12/1/2010

 

300

Saint Cloud

 

MN

 

 

 

677,052

 

1,255,383

 

2,000

 

None

 

677,052

 

1,257,383

 

1,934,435

 

355,016

 

 

 

12/1/2010

 

300

Saint Michael

 

MN

 

 

 

561,604

 

1,040,480

 

2,500

 

None

 

561,604

 

1,042,980

 

1,604,584

 

294,839

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

808,755

 

1,500,473

 

1,500

 

None

 

808,755

 

1,501,973

 

2,310,728

 

423,696

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

418,774

 

776,223

 

1,500

 

None

 

418,774

 

777,723

 

1,196,497

 

219,699

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

175,000

 

323,500

 

1,500

 

None

 

175,000

 

325,000

 

500,000

 

92,182

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

832,144

 

1,543,409

 

2,000

 

None

 

832,144

 

1,545,409

 

2,377,553

 

436,144

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

175,000

 

323,500

 

1,500

 

None

 

175,000

 

325,000

 

500,000

 

92,182

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

979,764

 

1,818,061

 

1,500

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,150

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

979,764

 

1,818,061

 

1,500

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,150

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

576,820

 

1,069,736

 

1,500

 

None

 

576,820

 

1,071,236

 

1,648,056

 

302,371

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

979,764

 

1,818,061

 

1,500

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,150

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

531,091

 

984,311

 

2,000

 

None

 

531,091

 

986,311

 

1,517,402

 

278,664

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

592,617

 

1,099,075

 

1,500

 

None

 

592,617

 

1,100,575

 

1,693,192

 

310,635

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

739,277

 

1,371,444

 

1,500

 

None

 

739,277

 

1,372,944

 

2,112,221

 

387,353

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

788,752

 

1,463,324

 

1,500

 

None

 

788,752

 

1,464,824

 

2,253,576

 

413,232

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

950,678

 

1,764,046

 

1,500

 

None

 

950,678

 

1,765,546

 

2,716,224

 

497,935

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

175,000

 

323,500

 

1,500

 

None

 

175,000

 

325,000

 

500,000

 

92,182

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

262,500

 

486,000

 

1,500

 

None

 

262,500

 

487,500

 

750,000

 

137,953

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

541,547

 

1,004,231

 

1,500

 

None

 

541,547

 

1,005,731

 

1,547,278

 

283,921

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

827,608

 

1,535,987

 

1,000

 

None

 

827,608

 

1,536,987

 

2,364,595

 

433,345

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

789,790

 

1,464,752

 

2,000

 

None

 

789,790

 

1,466,752

 

2,256,542

 

413,988

 

 

 

12/1/2010

 

300

Saint Paul

 

MN

 

 

 

648,354

 

1,202,586

 

1,500

 

None

 

648,354

 

1,204,086

 

1,852,440

 

223,178

 

 

 

5/1/2013

 

300

Saint Paul Park

 

MN

 

 

 

1,925,000

 

3,575,000

 

None

 

None

 

1,925,000

 

3,575,000

 

5,500,000

 

1,006,958

 

 

 

12/1/2010

 

300

Sauk Rapids

 

MN

 

 

 

175,000

 

323,000

 

2,000

 

None

 

175,000

 

325,000

 

500,000

 

92,395

 

 

 

12/1/2010

 

300

Savage

 

MN

 

 

 

605,220

 

1,122,481

 

1,500

 

None

 

605,220

 

1,123,981

 

1,729,201

 

317,228

 

 

 

12/1/2010

 

300

Savage

 

MN

 

 

 

569,195

 

1,055,575

 

1,500

 

None

 

569,195

 

1,057,075

 

1,626,270

 

298,383

 

 

 

12/1/2010

 

300

Savage

 

MN

 

 

 

175,000

 

323,000

 

2,000

 

None

 

175,000

 

325,000

 

500,000

 

92,395

 

 

 

12/1/2010

 

300

Shakopee

 

MN

 

 

 

522,391

 

966,156

 

4,000

 

None

 

522,391

 

970,156

 

1,492,547

 

274,967

 

 

 

12/1/2010

 

300

Shakopee

 

MN

 

 

 

477,517

 

883,817

 

3,000

 

None

 

477,517

 

886,817

 

1,364,334

 

251,067

 

 

 

12/1/2010

 

300

Shakopee

 

MN

 

 

 

688,324

 

1,276,317

 

2,000

 

None

 

688,324

 

1,278,317

 

1,966,641

 

360,913

 

 

 

12/1/2010

 

300

Shakopee

 

MN

 

 

 

783,764

 

1,454,062

 

1,500

 

None

 

783,764

 

1,455,562

 

2,239,326

 

410,623

 

 

 

12/1/2010

 

300

Vadnais Heights

 

MN

 

 

 

931,400

 

1,727,742

 

2,000

 

None

 

931,400

 

1,729,742

 

2,661,142

 

488,064

 

 

 

12/1/2010

 

300

White Bear Lake

 

MN

 

 

 

943,945

 

1,751,040

 

2,000

 

None

 

943,945

 

1,753,040

 

2,696,985

 

494,626

 

 

 

12/1/2010

 

300

White Bear Lake

 

MN

 

 

 

860,523

 

1,596,113

 

2,000

 

None

 

860,523

 

1,598,113

 

2,458,636

 

450,989

 

 

 

12/1/2010

 

300

Woodbury

 

MN

 

 

 

962,500

 

1,786,000

 

1,500

 

None

 

962,500

 

1,787,500

 

2,750,000

 

504,119

 

 

 

12/1/2010

 

300

Zimmerman

 

MN

 

 

 

979,764

 

1,817,561

 

2,000

 

None

 

979,764

 

1,819,561

 

2,799,325

 

513,363

 

 

 

12/1/2010

 

300

Sherburn

 

MN

 

 

 

110,000

 

2,499,670

 

None

 

None

 

110,000

 

2,499,670

 

2,609,670

 

54,160

 

 

 

6/30/2017

 

300

Bolivar

 

MO

 

 

 

712,586

 

1,258,249

 

376

 

None

 

712,586

 

1,258,625

 

1,971,211

 

249,738

 

 

 

1/22/2013

 

300

Bolivar

 

MO

 

 

 

734,876

 

1,297,609

 

388

 

None

 

734,876

 

1,297,997

 

2,032,873

 

257,550

 

 

 

1/22/2013

 

300

Fair Grove

 

MO

 

 

 

331,197

 

584,812

 

130,479

 

127

 

331,197

 

715,418

 

1,046,615

 

151,336

 

 

 

1/22/2013

 

300

Hollister

 

MO

 

 

 

660,909

 

1,167,001

 

349

 

None

 

660,909

 

1,167,350

 

1,828,259

 

231,627

 

 

 

1/22/2013

 

300

Monett

 

MO

 

 

 

493,610

 

871,592

 

260

 

None

 

493,610

 

871,852

 

1,365,462

 

172,994

 

 

 

1/22/2013

 

300

Springfield

 

MO

 

 

 

471,920

 

833,292

 

249

 

None

 

471,920

 

833,541

 

1,305,461

 

165,392

 

 

 

1/22/2013

 

300

Springfield

 

MO

 

 

 

794,438

 

1,402,780

 

419

 

None

 

794,438

 

1,403,199

 

2,197,637

 

278,424

 

 

 

1/22/2013

 

300

Springfield

 

MO

 

 

 

805,817

 

1,422,872

 

425

 

None

 

805,817

 

1,423,297

 

2,229,114

 

282,412

 

 

 

1/22/2013

 

300

Springfield

 

MO

 

 

 

600,117

 

1,059,657

 

317

 

None

 

600,117

 

1,059,974

 

1,660,091

 

210,321

 

 

 

1/22/2013

 

300

Springfield

 

MO

 

 

 

735,236

 

1,298,243

 

388

 

None

 

735,236

 

1,298,631

 

2,033,867

 

257,676

 

 

 

1/22/2013

 

300

Springfield

 

MO

 

 

 

782,041

 

1,380,889

 

413

 

None

 

782,041

 

1,381,302

 

2,163,343

 

274,079

 

 

 

1/22/2013

 

300

Springfield

 

MO

 

 

 

1,955,824

 

3,453,498

 

1,032

 

None

 

1,955,824

 

3,454,530

 

5,410,354

 

685,451

 

 

 

1/22/2013

 

300

Springfield

 

MO

 

 

 

839,527

 

1,482,396

 

443

 

None

 

839,527

 

1,482,839

 

2,322,366

 

294,226

 

 

 

1/22/2013

 

300

Waynesville

 

MO

 

 

 

511,912

 

903,909

 

270

 

None

 

511,912

 

904,179

 

1,416,091

 

179,408

 

 

 

1/22/2013

 

300

Brandon

 

MS

 

 

 

671,486

 

1,247,588

 

None

 

None

 

671,486

 

1,247,588

 

1,919,074

 

625,874

 

 

 

6/30/2005

 

300

Flowood

 

MS

 

 

 

437,926

 

813,832

 

None

 

None

 

437,926

 

813,832

 

1,251,758

 

408,273

 

 

 

6/30/2005

 

300

Flowood

 

MS

 

 

 

399,972

 

743,347

 

None

 

None

 

399,972

 

743,347

 

1,143,319

 

372,913

 

 

 

6/30/2005

 

300

Jackson

 

MS

 

 

 

329,904

 

613,221

 

None

 

None

 

329,904

 

613,221

 

943,125

 

307,633

 

 

 

6/30/2005

 

300

Jackson

 

MS

 

 

 

540,108

 

1,003,600

 

None

 

None

 

540,108

 

1,003,600

 

1,543,708

 

503,473

 

 

 

6/30/2005

 

300

Marion

 

MS

 

 

 

350,341

 

651,013

 

None

 

None

 

350,341

 

651,013

 

1,001,354

 

326,592

 

 

 

6/30/2005

 

300

Meridian

 

MS

 

 

 

437,926

 

813,671

 

None

 

None

 

437,926

 

813,671

 

1,251,597

 

408,192

 

 

 

6/30/2005

 

300

Meridian

 

MS

 

 

 

405,811

 

754,030

 

None

 

None

 

405,811

 

754,030

 

1,159,841

 

378,272

 

 

 

6/30/2005

 

300

Meridian

 

MS

 

 

 

145,975

 

271,478

 

None

 

None

 

145,975

 

271,478

 

417,453

 

136,192

 

 

 

6/30/2005

 

300

Meridian

 

MS

 

 

 

280,273

 

520,887

 

None

 

None

 

280,273

 

520,887

 

801,160

 

261,312

 

 

 

6/30/2005

 

300

Meridian

 

MS

 

 

 

321,146

 

596,794

 

None

 

None

 

321,146

 

596,794

 

917,940

 

297,402

 

 

 

7/19/2005

 

300

Newton

 

MS

 

 

 

467,121

 

867,891

 

None

 

None

 

467,121

 

867,891

 

1,335,012

 

435,392

 

 

 

6/30/2005

 

300

Pearl

 

MS

 

 

 

544,488

 

1,011,733

 

None

 

None

 

544,488

 

1,011,733

 

1,556,221

 

507,553

 

 

 

6/30/2005

 

300

Philadelphia

 

MS

 

 

 

472,960

 

878,735

 

None

 

None

 

472,960

 

878,735

 

1,351,695

 

440,832

 

 

 

6/30/2005

 

300

Southaven

 

MS

 

 

 

310,000

 

641,637

 

None

 

None

 

310,000

 

641,637

 

951,637

 

353,967

 

 

 

3/18/2004

 

300

Terry

 

MS

 

 

 

583,901

 

1,084,930

 

None

 

None

 

583,901

 

1,084,930

 

1,668,831

 

544,273

 

 

 

6/30/2005

 

300

Waveland

 

MS

 

 

 

180,000

 

331,637

 

None

 

None

 

180,000

 

331,637

 

511,637

 

182,950

 

 

 

3/18/2004

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Archdale

 

NC

 

 

 

410,000

 

731,637

 

None

 

None

 

410,000

 

731,637

 

1,141,637

 

403,617

 

 

 

3/18/2004

 

300

Banner Elk

 

NC

 

 

 

386,993

 

718,861

 

2,000

 

None

 

386,993

 

720,861

 

1,107,854

 

283,503

 

 

 

3/27/2008

 

300

Banner Elk

 

NC

 

 

 

355,330

 

660,558

 

1,500

 

None

 

355,330

 

662,058

 

1,017,388

 

260,180

 

 

 

3/27/2008

 

300

Burgaw

 

NC

 

 

 

198,774

 

369,653

 

1,000

 

None

 

198,774

 

370,653

 

569,427

 

145,755

 

 

 

3/27/2008

 

300

Burgaw

 

NC

 

 

 

457,356

 

849,377

 

1,500

 

None

 

457,356

 

850,877

 

1,308,233

 

334,134

 

 

 

3/27/2008

 

300

Carolina Beach

 

NC

 

 

 

457,356

 

848,929

 

2,000

 

None

 

457,356

 

850,929

 

1,308,285

 

334,446

 

 

 

3/27/2008

 

300

Cary

 

NC

 

 

 

255,064

 

473,349

 

2,500

 

None

 

255,064

 

475,849

 

730,913

 

187,831

 

 

 

3/27/2008

 

300

Charlotte

 

NC

 

 

 

300,000

 

291,637

 

None

 

None

 

300,000

 

291,637

 

591,637

 

160,884

 

 

 

3/18/2004

 

300

Charlotte

 

NC

 

 

 

640,000

 

581,637

 

None

 

None

 

640,000

 

581,637

 

1,221,637

 

320,867

 

 

 

3/18/2004

 

300

Charlotte

 

NC

 

 

 

970,000

 

1,650,000

 

None

 

None

 

970,000

 

1,650,000

 

2,620,000

 

68,183

 

 

 

12/21/2016

 

300

Durham

 

NC

 

 

 

720,000

 

851,637

 

None

 

None

 

720,000

 

851,637

 

1,571,637

 

469,817

 

 

 

3/18/2004

 

300

Goldsboro

 

NC

 

 

 

460,000

 

740,625

 

None

 

None

 

460,000

 

740,625

 

1,200,625

 

502,367

 

 

 

1/25/2001

 

300

Hampstead

 

NC

 

 

 

562,900

 

1,045,971

 

1,000

 

None

 

562,900

 

1,046,971

 

1,609,871

 

410,646

 

 

 

3/27/2008

 

300

Holly Ridge

 

NC

 

 

 

721,215

 

1,339,486

 

1,500

 

None

 

721,215

 

1,340,986

 

2,062,201

 

526,093

 

 

 

3/27/2008

 

300

Hubert

 

NC

 

 

 

404,584

 

750,372

 

2,500

 

None

 

404,584

 

752,872

 

1,157,456

 

296,332

 

 

 

3/27/2008

 

300

Jacksonville

 

NC

 

 

 

180,000

 

371,637

 

None

 

None

 

180,000

 

371,637

 

551,637

 

205,017

 

 

 

3/18/2004

 

300

Jacksonville

 

NC

 

 

 

140,000

 

260,727

 

None

 

None

 

140,000

 

260,727

 

400,727

 

142,963

 

 

 

4/14/2004

 

300

Jacksonville

 

NC

 

 

 

351,812

 

653,367

 

1,500

 

None

 

351,812

 

654,867

 

1,006,679

 

257,364

 

 

 

3/27/2008

 

300

Kinston

 

NC

 

 

 

550,000

 

1,057,833

 

None

 

153

 

550,000

 

1,057,986

 

1,607,986

 

855,162

 

 

 

10/24/1997

 

300

Raleigh

 

NC

 

 

 

740,000

 

791,637

 

None

 

None

 

740,000

 

791,637

 

1,531,637

 

436,717

 

 

 

3/18/2004

 

300

Richlands

 

NC

 

 

 

492,537

 

914,735

 

1,500

 

None

 

492,537

 

916,235

 

1,408,772

 

359,732

 

 

 

3/27/2008

 

300

Richlands

 

NC

 

 

 

376,439

 

698,103

 

2,500

 

None

 

376,439

 

700,603

 

1,077,042

 

275,860

 

 

 

3/27/2008

 

300

Riegelwood

 

NC

 

 

 

-     

 

452,416

 

1,500

 

None

 

-     

 

453,916

 

453,916

 

189,296

 

 

 

3/27/2008

 

283

Roanoke Rapids

 

NC

 

 

 

834,223

 

1,551,226

 

480

 

50,351

 

834,223

 

1,602,057

 

2,436,280

 

702,224

 

 

 

11/1/2006

 

300

Roxboro

 

NC

 

 

 

243,112

 

368,107

 

None

 

None

 

243,112

 

368,107

 

611,219

 

217,789

 

 

 

3/19/2003

 

300

Shallotte

 

NC

 

 

 

492,537

 

914,766

 

1,500

 

None

 

492,537

 

916,266

 

1,408,803

 

359,745

 

 

 

3/27/2008

 

300

Southern Pines

 

NC

 

 

 

600,000

 

300,625

 

None

 

None

 

600,000

 

300,625

 

900,625

 

203,901

 

 

 

1/25/2001

 

300

Wallace

 

NC

 

 

 

-     

 

175,408

 

2,000

 

None

 

-     

 

177,408

 

177,408

 

96,026

 

 

 

3/27/2008

 

219

Wilmington

 

NC

 

 

 

527,718

 

979,145

 

2,500

 

None

 

527,718

 

981,645

 

1,509,363

 

385,935

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

351,812

 

653,930

 

1,000

 

None

 

351,812

 

654,930

 

1,006,742

 

257,096

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

474,946

 

881,640

 

2,000

 

None

 

474,946

 

883,640

 

1,358,586

 

347,258

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

-     

 

351,366

 

2,000

 

None

 

-     

 

353,366

 

353,366

 

244,734

 

 

 

3/27/2008

 

170

Wilmington

 

NC

 

 

 

364,126

 

676,287

 

1,500

 

None

 

364,126

 

677,787

 

1,041,913

 

266,341

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

439,765

 

817,271

 

1,000

 

None

 

439,765

 

818,271

 

1,258,036

 

321,072

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

-     

 

804,196

 

1,500

 

None

 

-     

 

805,696

 

805,696

 

316,438

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

386,993

 

718,788

 

1,500

 

None

 

386,993

 

720,288

 

1,107,281

 

282,987

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

527,718

 

979,102

 

2,500

 

None

 

527,718

 

981,602

 

1,509,320

 

385,918

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

334,222

 

620,284

 

2,000

 

None

 

334,222

 

622,284

 

956,506

 

244,893

 

 

 

3/27/2008

 

300

Wilmington

 

NC

 

 

 

334,222

 

620,751

 

1,500

 

None

 

334,222

 

622,251

 

956,473

 

244,589

 

 

 

3/27/2008

 

300

Winston Salem

 

NC

 

 

 

320,000

 

311,637

 

None

 

None

 

320,000

 

311,637

 

631,637

 

171,917

 

 

 

3/18/2004

 

300

Zebulon

 

NC

 

 

 

306,077

 

568,087

 

2,500

 

None

 

306,077

 

570,587

 

876,664

 

224,937

 

 

 

3/27/2008

 

300

Absecon

 

NJ

 

 

 

1,367,872

 

2,540,604

 

None

 

None

 

1,367,872

 

2,540,604

 

3,908,476

 

1,579,366

 

 

 

6/27/2002

 

300

Mays Landing

 

NJ

 

 

 

1,539,117

 

2,858,630

 

None

 

None

 

1,539,117

 

2,858,630

 

4,397,747

 

1,778,009

 

 

 

6/27/2002

 

300

Millville

 

NJ

 

 

 

953,891

 

1,771,782

 

None

 

None

 

953,891

 

1,771,782

 

2,725,673

 

1,101,448

 

 

 

6/27/2002

 

300

Toms River

 

NJ

 

 

 

1,265,861

 

2,351,154

 

None

 

None

 

1,265,861

 

2,351,154

 

3,617,015

 

1,461,988

 

 

 

6/27/2002

 

300

Toms River

 

NJ

 

 

 

982,526

 

1,824,961

 

None

 

None

 

982,526

 

1,824,961

 

2,807,487

 

1,134,165

 

 

 

6/27/2002

 

300

Wall Township

 

NJ

 

 

 

1,459,957

 

2,712,264

 

None

 

None

 

1,459,957

 

2,712,264

 

4,172,221

 

1,668,003

 

 

 

8/6/2002

 

300

Albuquerque

 

NM

 

 

 

200,000

 

271,637

 

None

 

None

 

200,000

 

271,637

 

471,637

 

149,850

 

 

 

3/18/2004

 

300

Amherst

 

NY

 

 

 

660,000

 

1,820,000

 

None

 

None

 

660,000

 

1,820,000

 

2,480,000

 

75,298

 

 

 

12/21/2016

 

300

Kingston

 

NY

 

 

 

257,763

 

456,042

 

None

 

None

 

257,763

 

456,042

 

713,805

 

414,238

 

 

 

4/6/1995

 

300

Rochester

 

NY

 

 

 

632,586

 

1,116,989

 

334

 

None

 

632,586

 

1,117,323

 

1,749,909

 

221,700

 

 

 

1/22/2013

 

300

Alliance

 

OH

 

 

 

454,440

 

841,460

 

2,500

 

None

 

454,440

 

843,960

 

1,298,400

 

255,715

 

 

 

6/22/2010

 

300

Atwater

 

OH

 

 

 

118,555

 

266,748

 

None

 

None

 

118,555

 

266,748

 

385,303

 

243,185

 

 

 

3/3/1995

 

300

Bellefontaine

 

OH

 

 

 

560,000

 

1,039,610

 

2,500

 

None

 

560,000

 

1,042,110

 

1,602,110

 

413,094

 

 

 

2/29/2008

 

300

Bellefontaine

 

OH

 

 

 

455,000

 

845,610

 

1,500

 

None

 

455,000

 

847,110

 

1,302,110

 

335,480

 

 

 

2/29/2008

 

300

Columbus

 

OH

 

 

 

147,296

 

304,411

 

None

 

None

 

147,296

 

304,411

 

451,707

 

277,522

 

 

 

3/3/1995

 

300

Columbus

 

OH

 

 

 

273,085

 

471,693

 

13,088

 

None

 

273,085

 

484,781

 

757,866

 

423,456

 

 

 

12/21/1995

 

300

Cuyahoga Falls

 

OH

 

 

 

321,792

 

1,144,619

 

None

 

None

 

321,792

 

1,144,619

 

1,466,411

 

669,720

 

 

 

3/3/1995

 

300

De Graff

 

OH

 

 

 

302,750

 

561,860

 

2,500

 

None

 

302,750

 

564,360

 

867,110

 

224,382

 

 

 

2/29/2008

 

300

Eaton

 

OH

 

 

 

164,588

 

306,934

 

None

 

None

 

164,588

 

306,934

 

471,522

 

130,444

 

 

 

5/25/2007

 

300

Galion

 

OH

 

 

 

138,981

 

327,597

 

None

 

None

 

138,981

 

327,597

 

466,578

 

298,660

 

 

 

3/6/1995

 

300

Jackson Center

 

OH

 

 

 

367,500

 

682,110

 

2,500

 

None

 

367,500

 

684,610

 

1,052,110

 

271,881

 

 

 

2/29/2008

 

300

Kenton

 

OH

 

 

 

140,000

 

261,462

 

1,000

 

None

 

140,000

 

262,462

 

402,462

 

98,971

 

 

 

8/29/2008

 

300

Marysville

 

OH

 

 

 

507,500

 

943,110

 

1,500

 

None

 

507,500

 

944,610

 

1,452,110

 

373,993

 

 

 

2/29/2008

 

300

Marysville

 

OH

 

 

 

700,000

 

1,300,610

 

1,500

 

None

 

700,000

 

1,302,110

 

2,002,110

 

515,205

 

 

 

2/29/2008

 

300

Marysville

 

OH

 

 

 

350,000

 

650,610

 

1,500

 

None

 

350,000

 

652,110

 

1,002,110

 

258,455

 

 

 

2/29/2008

 

300

Perrysburg

 

OH

 

 

 

211,678

 

390,680

 

None

 

134

 

211,678

 

390,814

 

602,492

 

329,308

 

1/10/1996

 

9/1/1995

 

300

Russells Point

 

OH

 

 

 

546,000

 

1,013,610

 

2,500

 

None

 

546,000

 

1,016,110

 

1,562,110

 

402,824

 

 

 

2/29/2008

 

300

Streetsboro

 

OH

 

 

 

402,988

 

533,349

 

None

 

114

 

402,988

 

533,463

 

936,451

 

421,459

 

1/27/1997

 

9/3/1996

 

300

Tiffin

 

OH

 

 

 

117,017

 

273,040

 

None

 

None

 

117,017

 

273,040

 

390,057

 

248,921

 

 

 

3/7/1995

 

300

Troy

 

OH

 

 

 

355,009

 

588,111

 

None

 

85

 

355,009

 

588,196

 

943,205

 

469,586

 

1/31/1997

 

6/27/1996

 

300

Wadsworth

 

OH

 

 

 

266,507

 

496,917

 

None

 

116

 

266,507

 

497,033

 

763,540

 

403,612

 

11/26/1996

 

7/1/1996

 

300

Edmond

 

OK

 

 

 

365,152

 

715,425

 

1,000

 

None

 

365,152

 

716,425

 

1,081,577

 

130,419

 

 

 

6/27/2013

 

300

Edmond

 

OK

 

 

 

352,862

 

692,398

 

2,000

 

None

 

352,862

 

694,398

 

1,047,260

 

126,686

 

 

 

6/27/2013

 

300

Edmond

 

OK

 

 

 

519,976

 

1,017,575

 

1,500

 

None

 

519,976

 

1,019,075

 

1,539,051

 

185,535

 

 

 

6/27/2013

 

300

Edmond

 

OK

 

 

 

962,803

 

1,886,389

 

1,000

 

None

 

962,803

 

1,887,389

 

2,850,192

 

343,144

 

 

 

6/27/2013

 

300

Midwest City

 

OK

 

 

 

405,372

 

794,228

 

1,000

 

None

 

405,372

 

795,228

 

1,200,600

 

144,735

 

 

 

6/27/2013

 

300

Midwest City

 

OK

 

 

 

445,188

 

872,239

 

1,000

 

None

 

445,188

 

873,239

 

1,318,427

 

158,907

 

 

 

6/27/2013

 

300

Moore

 

OK

 

 

 

306,341

 

600,193

 

2,000

 

None

 

306,341

 

602,193

 

908,534

 

109,935

 

 

 

6/27/2013

 

300

Moore

 

OK

 

 

 

294,864

 

577,709

 

1,500

 

None

 

294,864

 

579,209

 

874,073

 

105,625

 

 

 

6/27/2013

 

300

Norman

 

OK

 

 

 

248,874

 

487,810

 

2,000

 

None

 

248,874

 

489,810

 

738,684

 

89,519

 

 

 

6/27/2013

 

300

Norman

 

OK

 

 

 

390,000

 

521,739

 

2,000

 

None

 

390,000

 

523,739

 

913,739

 

95,683

 

 

 

6/27/2013

 

300

Norman

 

OK

 

 

 

470,199

 

920,644

 

2,000

 

None

 

470,199

 

922,644

 

1,392,843

 

168,150

 

 

 

6/27/2013

 

300

Norman

 

OK

 

 

 

697,964

 

1,367,492

 

1,500

 

None

 

697,964

 

1,368,992

 

2,066,956

 

249,103

 

 

 

6/27/2013

 

300

Norman

 

OK

 

 

 

163,252

 

319,845

 

1,500

 

None

 

163,252

 

321,345

 

484,597

 

58,780

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

453,873

 

888,815

 

2,000

 

None

 

453,873

 

890,815

 

1,344,688

 

162,368

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

520,386

 

1,019,567

 

1,500

 

None

 

520,386

 

1,021,067

 

1,541,453

 

185,896

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

410,750

 

804,762

 

1,500

 

None

 

410,750

 

806,262

 

1,217,012

 

146,873

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

421,459

 

825,743

 

1,500

 

None

 

421,459

 

827,243

 

1,248,702

 

150,685

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

166,843

 

327,194

 

2,000

 

None

 

166,843

 

329,194

 

496,037

 

60,340

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

426,956

 

836,510

 

2,000

 

None

 

426,956

 

838,510

 

1,265,466

 

152,866

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

456,873

 

895,930

 

2,000

 

None

 

456,873

 

897,930

 

1,354,803

 

163,661

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

220,000

 

510,953

 

2,500

 

None

 

220,000

 

513,453

 

733,453

 

93,948

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

344,347

 

674,656

 

2,000

 

None

 

344,347

 

676,656

 

1,021,003

 

123,462

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

178,588

 

350,229

 

2,000

 

None

 

178,588

 

352,229

 

530,817

 

64,525

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

200,554

 

392,926

 

2,000

 

None

 

200,554

 

394,926

 

595,480

 

72,282

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

479,805

 

940,620

 

1,000

 

None

 

479,805

 

941,620

 

1,421,425

 

171,329

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

388,491

 

761,152

 

1,000

 

None

 

388,491

 

762,152

 

1,150,643

 

138,726

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

514,604

 

1,009,798

 

1,000

 

None

 

514,604

 

1,010,798

 

1,525,402

 

183,897

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

612,698

 

1,200,429

 

2,000

 

None

 

612,698

 

1,202,429

 

1,815,127

 

218,978

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

221,963

 

434,876

 

1,500

 

None

 

221,963

 

436,376

 

658,339

 

79,678

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

306,360

 

599,729

 

1,000

 

None

 

306,360

 

600,729

 

907,089

 

109,401

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

180,000

 

616,260

 

2,000

 

None

 

180,000

 

618,260

 

798,260

 

112,854

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

440,000

 

827,361

 

2,000

 

None

 

440,000

 

829,361

 

1,269,361

 

151,204

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

411,910

 

807,611

 

1,000

 

None

 

411,910

 

808,611

 

1,220,521

 

147,166

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

471,600

 

923,140

 

1,500

 

None

 

471,600

 

924,640

 

1,396,240

 

168,379

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

481,598

 

945,011

 

1,000

 

None

 

481,598

 

946,011

 

1,427,609

 

172,127

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

275,094

 

538,804

 

1,500

 

None

 

275,094

 

540,304

 

815,398

 

98,558

 

 

 

6/27/2013

 

300

Oklahoma City

 

OK

 

 

 

404,894

 

793,287

 

1,500

 

None

 

404,894

 

794,787

 

1,199,681

 

144,789

 

 

 

6/27/2013

 

300

Tulsa

 

OK

 

 

 

126,545

 

508,266

 

None

 

None

 

126,545

 

508,266

 

634,811

 

417,584

 

 

 

6/27/1997

 

300

Yukon

 

OK

 

 

 

618,155

 

1,211,121

 

2,000

 

None

 

618,155

 

1,213,121

 

1,831,276

 

220,920

 

 

 

6/27/2013

 

300

Yukon

 

OK

 

 

 

390,000

 

696,726

 

1,500

 

None

 

390,000

 

698,226

 

1,088,226

 

127,247

 

 

 

6/27/2013

 

300

Yukon

 

OK

 

 

 

713,299

 

1,398,650

 

1,000

 

None

 

713,299

 

1,399,650

 

2,112,949

 

254,538

 

 

 

6/27/2013

 

300

Yukon

 

OK

 

 

 

813,732

 

1,594,318

 

1,000

 

None

 

813,732

 

1,595,318

 

2,409,050

 

290,084

 

 

 

6/27/2013

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gresham

 

OR

 

 

 

1,026,964

 

1,283,964

 

None

 

None

 

1,026,964

 

1,283,964

 

2,310,928

 

53,167

 

 

 

12/21/2016

 

300

Aliquippa

 

PA

 

 

 

226,195

 

452,631

 

None

 

None

 

226,195

 

452,631

 

678,826

 

252,717

 

 

 

1/29/2004

 

300

Allentown

 

PA

 

 

 

3,922,420

 

5,970,215

 

1,565

 

None

 

3,922,420

 

5,971,780

 

9,894,200

 

1,184,862

 

 

 

1/22/2013

 

300

Beaver

 

PA

 

 

 

95,626

 

223,368

 

None

 

None

 

95,626

 

223,368

 

318,994

 

124,712

 

 

 

1/29/2004

 

300

Beaver Falls

 

PA

 

 

 

92,207

 

230,758

 

None

 

None

 

92,207

 

230,758

 

322,965

 

128,838

 

 

 

1/29/2004

 

300

Bensalem

 

PA

 

 

 

569,763

 

387,611

 

None

 

None

 

569,763

 

387,611

 

957,374

 

226,747

 

 

 

5/29/2003

 

300

Downingtown

 

PA

 

 

 

1,722,222

 

576

 

None

 

None

 

1,722,222

 

576

 

1,722,798

 

341

 

 

 

2/25/2003

 

300

Mount Washington

 

PA

 

 

 

118,118

 

231,108

 

None

 

None

 

118,118

 

231,108

 

349,226

 

129,033

 

 

 

1/29/2004

 

300

Penndel

 

PA

 

 

 

739,487

 

1,003,809

 

None

 

None

 

739,487

 

1,003,809

 

1,743,296

 

587,223

 

 

 

5/29/2003

 

300

Perryopolis

 

PA

 

 

 

148,953

 

134,299

 

None

 

None

 

148,953

 

134,299

 

283,252

 

74,981

 

 

 

1/29/2004

 

300

Philadelphia

 

PA

 

 

 

808,681

 

256,843

 

None

 

None

 

808,681

 

256,843

 

1,065,524

 

150,248

 

 

 

5/29/2003

 

300

Philadelphia

 

PA

 

 

 

425,928

 

167,147

 

None

 

None

 

425,928

 

167,147

 

593,075

 

97,775

 

 

 

5/29/2003

 

300

Philadelphia

 

PA

 

 

 

390,342

 

226,919

 

None

 

None

 

390,342

 

226,919

 

617,261

 

132,742

 

 

 

5/29/2003

 

300

Philadelphia

 

PA

 

 

 

541,792

 

236,049

 

None

 

None

 

541,792

 

236,049

 

777,841

 

138,083

 

 

 

5/29/2003

 

300

Philadelphia

 

PA

 

 

 

614,101

 

277,277

 

None

 

None

 

614,101

 

277,277

 

891,378

 

162,201

 

 

 

5/29/2003

 

300

Philadelphia

 

PA

 

 

 

1,011,389

 

491,302

 

None

 

None

 

1,011,389

 

491,302

 

1,502,691

 

287,406

 

 

 

5/29/2003

 

300

Philadelphia

 

PA

 

 

 

935,672

 

448,426

 

None

 

None

 

935,672

 

448,426

 

1,384,098

 

262,324

 

 

 

5/29/2003

 

300

Philadelphia

 

PA

 

 

 

689,172

 

426,596

 

None

 

None

 

689,172

 

426,596

 

1,115,768

 

249,553

 

 

 

5/29/2003

 

300

Philadelphia

 

PA

 

 

 

349,294

 

134,485

 

None

 

None

 

349,294

 

134,485

 

483,779

 

78,668

 

 

 

5/29/2003

 

300

Pittsburgh

 

PA

 

 

 

497,668

 

320,170

 

None

 

None

 

497,668

 

320,170

 

817,838

 

178,760

 

 

 

1/29/2004

 

300

Pittsburgh

 

PA

 

 

 

296,277

 

287,540

 

None

 

None

 

296,277

 

287,540

 

583,817

 

160,541

 

 

 

1/29/2004

 

300

Pittsburgh

 

PA

 

 

 

395,417

 

474,741

 

None

 

None

 

395,417

 

474,741

 

870,158

 

265,062

 

 

 

1/29/2004

 

300

South Park

 

PA

 

 

 

252,247

 

436,182

 

None

 

None

 

252,247

 

436,182

 

688,429

 

243,494

 

 

 

1/29/2004

 

300

Southampton

 

PA

 

 

 

783,279

 

163,721

 

None

 

None

 

783,279

 

163,721

 

947,000

 

95,771

 

 

 

5/29/2003

 

300

Valencia

 

PA

 

 

 

440,565

 

278,492

 

None

 

None

 

440,565

 

278,492

 

719,057

 

155,490

 

 

 

1/29/2004

 

300

Verona

 

PA

 

 

 

1,254,411

 

-     

 

None

 

343

 

1,254,411

 

343

 

1,254,754

 

40

 

 

 

1/29/2004

 

60

Willow Grove

 

PA

 

 

 

329,934

 

73,123

 

None

 

None

 

329,934

 

73,123

 

403,057

 

42,772

 

 

 

5/29/2003

 

300

Aiken

 

SC

 

 

 

400,000

 

402,665

 

None

 

None

 

400,000

 

402,665

 

802,665

 

297,297

 

 

 

7/22/1999

 

300

Aiken

 

SC

 

 

 

320,000

 

432,527

 

None

 

None

 

320,000

 

432,527

 

752,527

 

319,345

 

 

 

7/22/1999

 

300

Aiken

 

SC

 

 

 

330,000

 

472,679

 

None

 

None

 

330,000

 

472,679

 

802,679

 

348,990

 

 

 

7/22/1999

 

300

Aiken

 

SC

 

 

 

560,000

 

543,588

 

None

 

None

 

560,000

 

543,588

 

1,103,588

 

401,343

 

 

 

7/22/1999

 

300

Aiken

 

SC

 

 

 

360,000

 

542,982

 

None

 

None

 

360,000

 

542,982

 

902,982

 

400,897

 

 

 

7/22/1999

 

300

Aiken

 

SC

 

 

 

540,000

 

388,058

 

None

 

None

 

540,000

 

388,058

 

928,058

 

286,511

 

 

 

7/22/1999

 

300

Aiken

 

SC

 

 

 

250,000

 

251,770

 

None

 

None

 

250,000

 

251,770

 

501,770

 

185,887

 

 

 

7/22/1999

 

300

Beech Island

 

SC

 

 

 

330,000

 

481,637

 

None

 

None

 

330,000

 

481,637

 

811,637

 

265,700

 

 

 

3/18/2004

 

300

Belvedere

 

SC

 

 

 

490,000

 

463,080

 

None

 

None

 

490,000

 

463,080

 

953,080

 

341,903

 

 

 

7/22/1999

 

300

Bishopville

 

SC

 

 

 

191,738

 

356,130

 

1,500

 

None

 

191,738

 

357,630

 

549,368

 

140,946

 

 

 

3/27/2008

 

300

Bonneau

 

SC

 

 

 

128,411

 

239,191

 

1,500

 

None

 

128,411

 

240,691

 

369,102

 

95,145

 

 

 

3/27/2008

 

300

Camden

 

SC

 

 

 

269,136

 

499,897

 

1,500

 

None

 

269,136

 

501,397

 

770,533

 

197,254

 

 

 

3/27/2008

 

300

Columbia

 

SC

 

 

 

520,000

 

471,637

 

None

 

None

 

520,000

 

471,637

 

991,637

 

260,184

 

 

 

3/18/2004

 

300

Conway

 

SC

 

 

 

-     

 

251,890

 

1,000

 

None

 

-     

 

252,890

 

252,890

 

154,275

 

 

 

3/27/2008

 

193

Cordova

 

SC

 

 

 

137,207

 

255,025

 

2,000

 

None

 

137,207

 

257,025

 

394,232

 

101,834

 

 

 

3/27/2008

 

300

Eastover

 

SC

 

 

 

138,966

 

258,625

 

1,000

 

None

 

138,966

 

259,625

 

398,591

 

102,269

 

 

 

3/27/2008

 

300

Florence

 

SC

 

 

 

193,497

 

359,413

 

1,500

 

None

 

193,497

 

360,913

 

554,410

 

142,232

 

 

 

3/27/2008

 

300

Florence

 

SC

 

 

 

337,740

 

627,293

 

1,500

 

None

 

337,740

 

628,793

 

966,533

 

247,151

 

 

 

3/27/2008

 

300

Goose Creek

 

SC

 

 

 

150,000

 

241,637

 

None

 

None

 

150,000

 

241,637

 

391,637

 

133,300

 

 

 

3/18/2004

 

300

Greenville

 

SC

 

 

 

390,000

 

462,847

 

None

 

None

 

390,000

 

462,847

 

852,847

 

341,731

 

 

 

7/22/1999

 

300

Greenville

 

SC

 

 

 

300,000

 

402,392

 

None

 

None

 

300,000

 

402,392

 

702,392

 

297,096

 

 

 

7/22/1999

 

300

Greenville

 

SC

 

 

 

370,000

 

432,695

 

None

 

None

 

370,000

 

432,695

 

802,695

 

319,469

 

 

 

7/22/1999

 

300

Greenville

 

SC

 

 

 

620,000

 

483,604

 

None

 

None

 

620,000

 

483,604

 

1,103,604

 

357,055

 

 

 

7/22/1999

 

300

Greenville

 

SC

 

 

 

680,000

 

423,604

 

None

 

None

 

680,000

 

423,604

 

1,103,604

 

312,755

 

 

 

7/22/1999

 

300

Greer

 

SC

 

 

 

400,000

 

502,879

 

None

 

None

 

400,000

 

502,879

 

902,879

 

371,287

 

 

 

7/22/1999

 

300

Hemingway

 

SC

 

 

 

246,269

 

458,069

 

1,500

 

None

 

246,269

 

459,569

 

705,838

 

180,872

 

 

 

3/27/2008

 

300

Hilton Head

 

SC

 

 

 

500,000

 

691,637

 

None

 

None

 

500,000

 

691,637

 

1,191,637

 

381,550

 

 

 

3/18/2004

 

300

Hilton Head

 

SC

 

 

 

185,500

 

344,510

 

None

 

None

 

185,500

 

344,510

 

530,010

 

188,906

 

 

 

4/14/2004

 

300

Irmo

 

SC

 

 

 

690,000

 

461,637

 

None

 

None

 

690,000

 

461,637

 

1,151,637

 

254,667

 

 

 

3/18/2004

 

300

Jackson

 

SC

 

 

 

170,000

 

632,626

 

None

 

None

 

170,000

 

632,626

 

802,626

 

467,085

 

 

 

7/22/1999

 

300

Kingstree

 

SC

 

 

 

-     

 

301,766

 

2,000

 

None

 

-     

 

303,766

 

303,766

 

173,199

 

 

 

3/27/2008

 

207

Kingstree

 

SC

 

 

 

209,328

 

389,965

 

1,000

 

None

 

209,328

 

390,965

 

600,293

 

153,710

 

 

 

3/27/2008

 

300

Lake City

 

SC

 

 

 

202,292

 

376,398

 

1,500

 

None

 

202,292

 

377,898

 

580,190

 

148,884

 

 

 

3/27/2008

 

300

Lexington

 

SC

 

 

 

640,000

 

563,891

 

None

 

None

 

640,000

 

563,891

 

1,203,891

 

416,333

 

 

 

7/22/1999

 

300

Lexington

 

SC

 

 

 

540,000

 

563,588

 

None

 

None

 

540,000

 

563,588

 

1,103,588

 

416,110

 

 

 

7/22/1999

 

300

Lexington

 

SC

 

 

 

360,000

 

843,891

 

None

 

None

 

360,000

 

843,891

 

1,203,891

 

623,067

 

 

 

7/22/1999

 

300

Lugoff

 

SC

 

 

 

200,533

 

372,490

 

1,500

 

None

 

200,533

 

373,990

 

574,523

 

147,353

 

 

 

3/27/2008

 

300

Moncks Corner

 

SC

 

 

 

351,812

 

654,578

 

1,000

 

None

 

351,812

 

655,578

 

1,007,390

 

257,350

 

 

 

3/27/2008

 

300

Mount Pleasant

 

SC

 

 

 

668,443

 

1,241,940

 

1,000

 

None

 

668,443

 

1,242,940

 

1,911,383

 

487,400

 

 

 

3/27/2008

 

300

Myrtle Beach

 

SC

 

 

 

492,537

 

913,807

 

2,500

 

None

 

492,537

 

916,307

 

1,408,844

 

360,344

 

 

 

3/27/2008

 

300

Myrtle Beach

 

SC

 

 

 

703,624

 

1,307,326

 

1,000

 

None

 

703,624

 

1,308,326

 

2,011,950

 

513,010

 

 

 

3/27/2008

 

300

Myrtle Beach

 

SC

 

 

 

-     

 

176,002

 

1,500

 

None

 

-     

 

177,502

 

177,502

 

70,395

 

 

 

3/27/2008

 

300

Myrtle Beach

 

SC

 

 

 

-     

 

753,979

 

1,500

 

None

 

-     

 

755,479

 

755,479

 

296,770

 

 

 

3/27/2008

 

300

Myrtle Beach

 

SC

 

 

 

-     

 

327,278

 

1,000

 

None

 

-     

 

328,278

 

328,278

 

233,959

 

 

 

3/27/2008

 

165

Myrtle Beach

 

SC

 

 

 

-     

 

277,019

 

1,000

 

None

 

-     

 

278,019

 

278,019

 

173,140

 

 

 

3/27/2008

 

189

North Augusta

 

SC

 

 

 

400,000

 

452,777

 

None

 

None

 

400,000

 

452,777

 

852,777

 

334,296

 

 

 

7/22/1999

 

300

North Augusta

 

SC

 

 

 

490,000

 

1,221,637

 

None

 

None

 

490,000

 

1,221,637

 

1,711,637

 

673,934

 

 

 

3/18/2004

 

300

Orangeburg

 

SC

 

 

 

320,000

 

691,637

 

None

 

None

 

320,000

 

691,637

 

1,011,637

 

381,550

 

 

 

3/18/2004

 

300

Pinewood

 

SC

 

 

 

325,426

 

605,076

 

1,500

 

None

 

325,426

 

606,576

 

932,002

 

238,449

 

 

 

3/27/2008

 

300

Simpsonville

 

SC

 

 

 

530,000

 

573,485

 

None

 

None

 

530,000

 

573,485

 

1,103,485

 

423,417

 

 

 

7/22/1999

 

300

Spartanburg

 

SC

 

 

 

470,000

 

432,879

 

None

 

None

 

470,000

 

432,879

 

902,879

 

319,604

 

 

 

7/22/1999

 

300

Summerton

 

SC

 

 

 

142,484

 

265,326

 

1,500

 

None

 

142,484

 

266,826

 

409,310

 

105,381

 

 

 

3/27/2008

 

300

Summerville

 

SC

 

 

 

297,500

 

553,227

 

None

 

None

 

297,500

 

553,227

 

850,727

 

303,350

 

 

 

4/14/2004

 

300

Sumter

 

SC

 

 

 

211,087

 

392,065

 

1,500

 

None

 

211,087

 

393,565

 

604,652

 

155,020

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

263,859

 

490,128

 

1,500

 

None

 

263,859

 

491,628

 

755,487

 

193,428

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

362,367

 

673,012

 

1,500

 

None

 

362,367

 

674,512

 

1,036,879

 

265,058

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

181,183

 

336,587

 

1,500

 

None

 

181,183

 

338,087

 

519,270

 

133,291

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

154,797

 

287,584

 

1,500

 

None

 

154,797

 

289,084

 

443,881

 

114,099

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

351,812

 

653,469

 

1,500

 

None

 

351,812

 

654,969

 

1,006,781

 

257,403

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

334,222

 

620,801

 

1,500

 

None

 

334,222

 

622,301

 

956,523

 

244,608

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

281,450

 

522,796

 

1,500

 

None

 

281,450

 

524,296

 

805,746

 

206,223

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

146,002

 

271,250

 

1,500

 

None

 

146,002

 

272,750

 

418,752

 

107,701

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

372,921

 

693,113

 

1,000

 

None

 

372,921

 

694,113

 

1,067,034

 

272,443

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

149,520

 

277,726

 

1,500

 

None

 

149,520

 

279,226

 

428,746

 

110,237

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

262,100

 

486,861

 

1,500

 

None

 

262,100

 

488,361

 

750,461

 

192,148

 

 

 

3/27/2008

 

300

Sumter

 

SC

 

 

 

184,701

 

344,620

 

None

 

None

 

184,701

 

344,620

 

529,321

 

134,975

 

 

 

3/27/2008

 

300

West Columbia

 

SC

 

 

 

410,000

 

693,574

 

None

 

None

 

410,000

 

693,574

 

1,103,574

 

512,083

 

 

 

7/22/1999

 

300

West Columbia

 

SC

 

 

 

336,000

 

624,727

 

None

 

None

 

336,000

 

624,727

 

960,727

 

342,556

 

 

 

4/14/2004

 

300

Elk Point

 

SD

 

 

 

390,000

 

2,410,066

 

None

 

None

 

390,000

 

2,410,066

 

2,800,066

 

52,218

 

 

 

6/30/2017

 

300

Arrington

 

TN

 

 

 

385,000

 

716,242

 

None

 

None

 

385,000

 

716,242

 

1,101,242

 

407,058

 

 

 

10/16/2003

 

300

Athens

 

TN

 

 

 

175,000

 

326,242

 

None

 

None

 

175,000

 

326,242

 

501,242

 

185,408

 

 

 

10/16/2003

 

300

Athens

 

TN

 

 

 

124,179

 

231,860

 

None

 

None

 

124,179

 

231,860

 

356,039

 

131,767

 

 

 

10/16/2003

 

300

Benton

 

TN

 

 

 

192,500

 

358,742

 

None

 

None

 

192,500

 

358,742

 

551,242

 

203,879

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

181,731

 

338,741

 

None

 

None

 

181,731

 

338,741

 

520,472

 

192,512

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

175,000

 

326,242

 

(79,571

)

None

 

162,879

 

258,792

 

421,671

 

147,074

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

159,979

 

298,346

 

None

 

None

 

159,979

 

298,346

 

458,325

 

169,554

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

105,000

 

196,242

 

None

 

None

 

105,000

 

196,242

 

301,242

 

111,524

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

245,000

 

456,242

 

None

 

None

 

245,000

 

456,242

 

701,242

 

259,291

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

297,500

 

553,742

 

None

 

None

 

297,500

 

553,742

 

851,242

 

314,704

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

323,750

 

822,529

 

None

 

None

 

323,750

 

822,529

 

1,146,279

 

447,551

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

280,000

 

521,242

 

None

 

None

 

280,000

 

521,242

 

801,242

 

296,233

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

257,250

 

478,992

 

None

 

None

 

257,250

 

478,992

 

736,242

 

272,221

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

283,209

 

527,201

 

None

 

None

 

283,209

 

527,201

 

810,410

 

299,620

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

542,500

 

1,008,742

 

None

 

None

 

542,500

 

1,008,742

 

1,551,242

 

573,295

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

332,500

 

618,742

 

None

 

None

 

332,500

 

618,742

 

951,242

 

351,645

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

300,373

 

559,077

 

(39,679

)

None

 

260,694

 

559,077

 

819,771

 

317,736

 

 

 

10/16/2003

 

300

Chattanooga

 

TN

 

 

 

175,000

 

326,242

 

(24,664

)

None

 

150,336

 

326,242

 

476,578

 

185,408

 

 

 

10/16/2003

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cleveland

 

TN

 

 

 

110,009

 

205,545

 

None

 

None

 

110,009

 

205,545

 

315,554

 

116,812

 

 

 

10/16/2003

 

300

Cleveland

 

TN

 

 

 

227,500

 

423,742

 

None

 

None

 

227,500

 

423,742

 

651,242

 

240,820

 

 

 

10/16/2003

 

300

Cleveland

 

TN

 

 

 

280,000

 

521,242

 

None

 

None

 

280,000

 

521,242

 

801,242

 

296,233

 

 

 

10/16/2003

 

300

Cleveland

 

TN

 

 

 

245,000

 

456,242

 

None

 

None

 

245,000

 

456,242

 

701,242

 

259,291

 

 

 

10/16/2003

 

300

Cleveland

 

TN

 

 

 

157,500

 

293,742

 

None

 

None

 

157,500

 

293,742

 

451,242

 

166,937

 

 

 

10/16/2003

 

300

Cleveland

 

TN

 

 

 

122,500

 

228,742

 

None

 

None

 

122,500

 

228,742

 

351,242

 

129,995

 

 

 

10/16/2003

 

300

Cleveland

 

TN

 

 

 

300,373

 

559,077

 

None

 

None

 

300,373

 

559,077

 

859,450

 

317,736

 

 

 

10/16/2003

 

300

Dayton

 

TN

 

 

 

262,500

 

488,742

 

None

 

None

 

262,500

 

488,742

 

751,242

 

277,762

 

 

 

10/16/2003

 

300

Decatur

 

TN

 

 

 

181,731

 

338,742

 

None

 

None

 

181,731

 

338,742

 

520,473

 

192,512

 

 

 

10/16/2003

 

300

Dunlap

 

TN

 

 

 

315,000

 

586,242

 

None

 

None

 

315,000

 

586,242

 

901,242

 

333,174

 

 

 

10/16/2003

 

300

Etowah

 

TN

 

 

 

192,500

 

358,742

 

None

 

None

 

192,500

 

358,742

 

551,242

 

203,879

 

 

 

10/16/2003

 

300

Gallatin

 

TN

 

 

 

525,000

 

976,242

 

None

 

None

 

525,000

 

976,242

 

1,501,242

 

554,824

 

 

 

10/16/2003

 

300

Gray

 

TN

 

 

 

191,151

 

355,563

 

None

 

None

 

191,151

 

355,563

 

546,714

 

144,002

 

 

 

11/29/2007

 

300

Harrison

 

TN

 

 

 

484,313

 

900,680

 

None

 

None

 

484,313

 

900,680

 

1,384,993

 

511,880

 

 

 

10/16/2003

 

300

Hixson

 

TN

 

 

 

350,000

 

651,242

 

None

 

None

 

350,000

 

651,242

 

1,001,242

 

370,116

 

 

 

10/16/2003

 

300

Hixson

 

TN

 

 

 

271,250

 

504,992

 

None

 

None

 

271,250

 

504,992

 

776,242

 

286,997

 

 

 

10/16/2003

 

300

Hixson

 

TN

 

 

 

513,215

 

954,355

 

None

 

None

 

513,215

 

954,355

 

1,467,570

 

542,386

 

 

 

10/16/2003

 

300

Hixson

 

TN

 

 

 

94,500

 

176,742

 

None

 

None

 

94,500

 

176,742

 

271,242

 

100,442

 

 

 

10/16/2003

 

300

Hixson

 

TN

 

 

 

300,373

 

559,077

 

None

 

None

 

300,373

 

559,077

 

859,450

 

317,736

 

 

 

10/16/2003

 

300

Kimball

 

TN

 

 

 

332,500

 

618,742

 

None

 

None

 

332,500

 

618,742

 

951,242

 

351,645

 

 

 

10/16/2003

 

300

Kingsport

 

TN

 

 

 

155,603

 

289,545

 

None

 

None

 

155,603

 

289,545

 

445,148

 

117,264

 

 

 

11/29/2007

 

300

Kingsport

 

TN

 

 

 

310,303

 

576,845

 

None

 

None

 

310,303

 

576,845

 

887,148

 

233,620

 

 

 

11/29/2007

 

300

La Vergne

 

TN

 

 

 

577,500

 

1,073,742

 

(15,745

)

None

 

561,755

 

1,073,742

 

1,635,497

 

610,237

 

 

 

10/16/2003

 

300

Manchester

 

TN

 

 

 

266,119

 

495,463

 

None

 

None

 

266,119

 

495,463

 

761,582

 

281,582

 

 

 

10/16/2003

 

300

Manchester

 

TN

 

 

 

281,675

 

524,352

 

None

 

None

 

281,675

 

524,352

 

806,027

 

298,000

 

 

 

10/16/2003

 

300

Manchester

 

TN

 

 

 

319,846

 

595,242

 

None

 

None

 

319,846

 

595,242

 

915,088

 

338,290

 

 

 

10/16/2003

 

300

Monteagle

 

TN

 

 

 

271,173

 

504,849

 

None

 

None

 

271,173

 

504,849

 

776,022

 

286,916

 

 

 

10/16/2003

 

300

Mount Juliet

 

TN

 

 

 

397,128

 

738,764

 

None

 

None

 

397,128

 

738,764

 

1,135,892

 

419,858

 

 

 

10/16/2003

 

300

Murfreesboro

 

TN

 

 

 

549,500

 

1,021,742

 

None

 

None

 

549,500

 

1,021,742

 

1,571,242

 

580,684

 

 

 

10/16/2003

 

300

Murfreesboro

 

TN

 

 

 

467,810

 

870,032

 

None

 

None

 

467,810

 

870,032

 

1,337,842

 

494,462

 

 

 

10/16/2003

 

300

Murfreesboro

 

TN

 

 

 

300,373

 

559,077

 

None

 

None

 

300,373

 

559,077

 

859,450

 

317,736

 

 

 

10/16/2003

 

300

Nashville

 

TN

 

 

 

498,628

 

927,264

 

None

 

None

 

498,628

 

927,264

 

1,425,892

 

526,989

 

 

 

10/16/2003

 

300

Ocoee

 

TN

 

 

 

119,792

 

223,713

 

(11,239

)

None

 

108,553

 

223,713

 

332,266

 

127,137

 

 

 

10/16/2003

 

300

Ooltewah

 

TN

 

 

 

234,231

 

436,241

 

None

 

None

 

234,231

 

436,241

 

670,472

 

247,924

 

 

 

10/16/2003

 

300

Ooltewah

 

TN

 

 

 

700,000

 

1,301,242

 

(190,623

)

None

 

635,909

 

1,174,710

 

1,810,619

 

670,775

 

 

 

10/16/2003

 

300

Ooltewah

 

TN

 

 

 

105,000

 

196,242

 

None

 

None

 

105,000

 

196,242

 

301,242

 

111,524

 

 

 

10/16/2003

 

300

Roan Mountain

 

TN

 

 

 

286,303

 

532,274

 

None

 

None

 

286,303

 

532,274

 

818,577

 

215,569

 

 

 

11/29/2007

 

300

Shelbyville

 

TN

 

 

 

320,229

 

595,953

 

None

 

None

 

320,229

 

595,953

 

916,182

 

338,694

 

 

 

10/16/2003

 

300

Smyrna

 

TN

 

 

 

426,466

 

793,251

 

None

 

None

 

426,466

 

793,251

 

1,219,717

 

450,824

 

 

 

10/16/2003

 

300

Smyrna

 

TN

 

 

 

630,000

 

1,170,036

 

None

 

None

 

630,000

 

1,170,036

 

1,800,036

 

528,466

 

 

 

9/27/2006

 

300

Soddy Daisy

 

TN

 

 

 

297,500

 

553,732

 

None

 

None

 

297,500

 

553,732

 

851,232

 

314,698

 

 

 

10/16/2003

 

300

Soddy Daisy

 

TN

 

 

 

350,000

 

651,242

 

None

 

None

 

350,000

 

651,242

 

1,001,242

 

370,116

 

 

 

10/16/2003

 

300

Soddy Daisy

 

TN

 

 

 

245,000

 

456,242

 

None

 

None

 

245,000

 

456,242

 

701,242

 

259,291

 

 

 

10/16/2003

 

300

Sweetwater

 

TN

 

 

 

122,500

 

228,742

 

None

 

None

 

122,500

 

228,742

 

351,242

 

129,995

 

 

 

10/16/2003

 

300

Sweetwater

 

TN

 

 

 

339,231

 

1,131,287

 

None

 

None

 

339,231

 

1,131,287

 

1,470,518

 

565,435

 

 

 

10/16/2003

 

300

Sweetwater

 

TN

 

 

 

133,000

 

248,242

 

None

 

None

 

133,000

 

248,242

 

381,242

 

141,078

 

 

 

10/16/2003

 

300

Austin

 

TX

 

 

 

1,430,000

 

1,184,952

 

None

 

None

 

1,430,000

 

1,184,952

 

2,614,952

 

49,068

 

 

 

12/21/2016

 

300

Austin

 

TX

 

 

 

1,190,000

 

1,254,093

 

None

 

None

 

1,190,000

 

1,254,093

 

2,444,093

 

51,949

 

 

 

12/21/2016

 

300

Carrollton

 

TX

 

 

 

910,000

 

1,464,019

 

None

 

None

 

910,000

 

1,464,019

 

2,374,019

 

60,541

 

 

 

12/21/2016

 

300

Dallas

 

TX

 

 

 

1,240,000

 

1,210,248

 

None

 

None

 

1,240,000

 

1,210,248

 

2,450,248

 

50,154

 

 

 

12/21/2016

 

300

Dallas

 

TX

 

 

 

1,407,567

 

1,759,813

 

None

 

None

 

1,407,567

 

1,759,813

 

3,167,380

 

72,872

 

 

 

12/21/2016

 

300

Dallas

 

TX

 

 

 

1,840,000

 

1,217,286

 

None

 

None

 

1,840,000

 

1,217,286

 

3,057,286

 

50,540

 

 

 

12/21/2016

 

300

Duncanville

 

TX

 

 

 

1,460,000

 

1,664,084

 

None

 

None

 

1,460,000

 

1,664,084

 

3,124,084

 

68,900

 

 

 

12/21/2016

 

300

Elmendorf

 

TX

 

 

 

1,910,000

 

771,525

 

None

 

None

 

1,910,000

 

771,525

 

2,681,525

 

32,027

 

 

 

12/21/2016

 

300

Flower Mound

 

TX

 

 

 

1,060,000

 

1,138,688

 

None

 

None

 

1,060,000

 

1,138,688

 

2,198,688

 

47,177

 

 

 

12/21/2016

 

300

Forney

 

TX

 

 

 

860,000

 

1,996,480

 

None

 

None

 

860,000

 

1,996,480

 

2,856,480

 

82,643

 

 

 

12/21/2016

 

300

Fort Worth

 

TX

 

 

 

1,113,705

 

1,586,295

 

None

 

None

 

1,113,705

 

1,586,295

 

2,700,000

 

65,680

 

 

 

12/21/2016

 

300

Fort Worth

 

TX

 

 

 

1,750,000

 

1,673,026

 

None

 

None

 

1,750,000

 

1,673,026

 

3,423,026

 

69,154

 

 

 

12/21/2016

 

300

Fort Worth

 

TX

 

 

 

1,160,000

 

1,030,180

 

None

 

None

 

1,160,000

 

1,030,180

 

2,190,180

 

42,676

 

 

 

12/21/2016

 

300

Fort Worth

 

TX

 

 

 

1,290,000

 

1,509,613

 

None

 

None

 

1,290,000

 

1,509,613

 

2,799,613

 

62,376

 

 

 

12/21/2016

 

300

Garland

 

TX

 

 

 

1,390,000

 

2,050,000

 

None

 

None

 

1,390,000

 

2,050,000

 

3,440,000

 

84,862

 

 

 

12/21/2016

 

300

Grand Prairie

 

TX

 

 

 

1,409,192

 

2,007,169

 

None

 

None

 

1,409,192

 

2,007,169

 

3,416,361

 

83,107

 

 

 

12/21/2016

 

300

Grapevine

 

TX

 

 

 

1,689,293

 

2,112,042

 

None

 

None

 

1,689,293

 

2,112,042

 

3,801,335

 

87,457

 

 

 

12/21/2016

 

300

Irving

 

TX

 

 

 

1,234,395

 

1,537,845

 

None

 

None

 

1,234,395

 

1,537,845

 

2,772,240

 

63,658

 

 

 

12/21/2016

 

300

Irving

 

TX

 

 

 

850,000

 

1,590,527

 

None

 

None

 

850,000

 

1,590,527

 

2,440,527

 

65,775

 

 

 

12/21/2016

 

300

Leander

 

TX

 

 

 

1,780,000

 

833,337

 

None

 

None

 

1,780,000

 

833,337

 

2,613,337

 

34,561

 

 

 

12/21/2016

 

300

Roanoke

 

TX

 

 

 

890,000

 

1,739,413

 

None

 

None

 

890,000

 

1,739,413

 

2,629,413

 

71,932

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

1,230,000

 

988,398

 

None

 

None

 

1,230,000

 

988,398

 

2,218,398

 

40,988

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

1,001,343

 

1,251,931

 

None

 

None

 

1,001,343

 

1,251,931

 

2,253,274

 

51,841

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

1,280,424

 

1,600,853

 

None

 

None

 

1,280,424

 

1,600,853

 

2,881,277

 

66,289

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

1,120,000

 

690,291

 

None

 

None

 

1,120,000

 

690,291

 

1,810,291

 

28,482

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

860,000

 

1,307,803

 

None

 

None

 

860,000

 

1,307,803

 

2,167,803

 

53,955

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

1,190,000

 

1,096,235

 

None

 

None

 

1,190,000

 

1,096,235

 

2,286,235

 

45,371

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

1,190,000

 

1,647,542

 

None

 

None

 

1,190,000

 

1,647,542

 

2,837,542

 

68,189

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

2,130,000

 

1,187,030

 

None

 

None

 

2,130,000

 

1,187,030

 

3,317,030

 

49,258

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

750,008

 

934,382

 

None

 

None

 

750,008

 

934,382

 

1,684,390

 

38,678

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

1,742,453

 

2,178,506

 

None

 

None

 

1,742,453

 

2,178,506

 

3,920,959

 

90,209

 

 

 

12/21/2016

 

300

San Antonio

 

TX

 

 

 

1,125,534

 

1,407,201

 

None

 

None

 

1,125,534

 

1,407,201

 

2,532,735

 

58,271

 

 

 

12/21/2016

 

300

Schertz

 

TX

 

 

 

994,658

 

1,243,574

 

None

 

None

 

994,658

 

1,243,574

 

2,238,232

 

51,495

 

 

 

12/21/2016

 

300

Temple

 

TX

 

 

 

786,180

 

982,923

 

None

 

None

 

786,180

 

982,923

 

1,769,103

 

40,702

 

 

 

12/21/2016

 

300

The Colony

 

TX

 

 

 

1,450,000

 

1,773,719

 

None

 

None

 

1,450,000

 

1,773,719

 

3,223,719

 

73,362

 

 

 

12/21/2016

 

300

Universal City

 

TX

 

 

 

1,000,000

 

799,924

 

None

 

None

 

1,000,000

 

799,924

 

1,799,924

 

33,235

 

 

 

12/21/2016

 

300

Roy

 

UT

 

 

 

1,030,000

 

1,452,886

 

None

 

None

 

1,030,000

 

1,452,886

 

2,482,886

 

60,352

 

 

 

12/21/2016

 

300

Springville

 

UT

 

 

 

1,249,850

 

1,780,213

 

None

 

None

 

1,249,850

 

1,780,213

 

3,030,063

 

73,709

 

 

 

12/21/2016

 

300

West Jordan

 

UT

 

 

 

340,000

 

913,622

 

None

 

None

 

340,000

 

913,622

 

1,253,622

 

38,068

 

 

 

12/21/2016

 

300

Abingdon

 

VA

 

 

 

57,847

 

107,997

 

None

 

None

 

57,847

 

107,997

 

165,844

 

43,737

 

 

 

11/29/2007

 

300

Big Stone Gap

 

VA

 

 

 

527,303

 

979,860

 

None

 

None

 

527,303

 

979,860

 

1,507,163

 

396,842

 

 

 

11/29/2007

 

300

Bristol

 

VA

 

 

 

213,369

 

396,824

 

None

 

None

 

213,369

 

396,824

 

610,193

 

160,712

 

 

 

11/29/2007

 

300

Bristol

 

VA

 

 

 

268,303

 

498,845

 

None

 

None

 

268,303

 

498,845

 

767,148

 

202,031

 

 

 

11/29/2007

 

300

Bristol

 

VA

 

 

 

171,156

 

318,428

 

None

 

None

 

171,156

 

318,428

 

489,584

 

128,962

 

 

 

11/29/2007

 

300

Carrollton

 

VA

 

 

 

1,140,000

 

1,820,000

 

None

 

None

 

1,140,000

 

1,820,000

 

2,960,000

 

75,267

 

 

 

12/21/2016

 

300

Castlewood

 

VA

 

 

 

387,303

 

720,307

 

None

 

None

 

387,303

 

720,307

 

1,107,610

 

291,723

 

 

 

11/29/2007

 

300

Charlottesville

 

VA

 

 

 

817,604

 

1,619,856

 

2,000

 

None

 

817,604

 

1,621,856

 

2,439,460

 

257,261

 

 

 

1/31/2014

 

300

Charlottesville

 

VA

 

 

 

536,443

 

1,062,813

 

2,500

 

None

 

536,443

 

1,065,313

 

1,601,756

 

169,258

 

 

 

1/31/2014

 

300

Charlottesville

 

VA

 

 

 

692,490

 

1,371,977

 

2,000

 

None

 

692,490

 

1,373,977

 

2,066,467

 

218,013

 

 

 

1/31/2014

 

300

Chatham

 

VA

 

 

 

347,728

 

525,031

 

None

 

None

 

347,728

 

525,031

 

872,759

 

310,636

 

 

 

3/19/2003

 

300

Chesapeake

 

VA

 

 

 

225,000

 

400,366

 

None

 

None

 

225,000

 

400,366

 

625,366

 

198,181

 

 

 

8/18/2005

 

300

Clintwood

 

VA

 

 

 

378,553

 

703,610

 

None

 

None

 

378,553

 

703,610

 

1,082,163

 

284,961

 

 

 

11/29/2007

 

300

Coeburn

 

VA

 

 

 

168,934

 

314,764

 

None

 

None

 

168,934

 

314,764

 

483,698

 

127,478

 

 

 

11/29/2007

 

300

Coeburn

 

VA

 

 

 

312,303

 

581,021

 

None

 

None

 

312,303

 

581,021

 

893,324

 

235,312

 

 

 

11/29/2007

 

300

Coeburn

 

VA

 

 

 

282,303

 

525,307

 

None

 

None

 

282,303

 

525,307

 

807,610

 

212,748

 

 

 

11/29/2007

 

300

Collinsville

 

VA

 

 

 

84,465

 

130,137

 

None

 

None

 

84,465

 

130,137

 

214,602

 

76,990

 

 

 

3/19/2003

 

300

Danville

 

VA

 

 

 

149,276

 

227,333

 

None

 

None

 

149,276

 

227,333

 

376,609

 

134,498

 

 

 

3/19/2003

 

300

Danville

 

VA

 

 

 

83,644

 

128,884

 

None

 

None

 

83,644

 

128,884

 

212,528

 

76,249

 

 

 

3/19/2003

 

300

Danville

 

VA

 

 

 

266,722

 

403,501

 

None

 

None

 

266,722

 

403,501

 

670,223

 

238,731

 

 

 

3/19/2003

 

300

Franklin

 

VA

 

 

 

536,667

 

863,699

 

None

 

None

 

536,667

 

863,699

 

1,400,366

 

427,531

 

 

 

8/18/2005

 

300

Gate City

 

VA

 

 

 

422,303

 

784,845

 

None

 

None

 

422,303

 

784,845

 

1,207,148

 

317,861

 

 

 

11/29/2007

 

300

Glen Allen

 

VA

 

 

 

329,698

 

498,015

 

None

 

None

 

329,698

 

498,015

 

827,713

 

294,651

 

 

 

3/19/2003

 

300

Gordonsville

 

VA

 

 

 

770,000

 

1,155,478

 

1,500

 

None

 

770,000

 

1,156,978

 

1,926,978

 

183,538

 

 

 

1/31/2014

 

300

Gordonsville

 

VA

 

 

 

2,190,000

 

2,286,653

 

3,000

 

None

 

2,190,000

 

2,289,653

 

4,479,653

 

363,228

 

 

 

1/31/2014

 

300

Highland Springs

 

VA

 

 

 

396,720

 

598,547

 

None

 

None

 

396,720

 

598,547

 

995,267

 

354,133

 

 

 

3/19/2003

 

300

Honaker

 

VA

 

 

 

492,303

 

915,307

 

None

 

None

 

492,303

 

915,307

 

1,407,610

 

370,698

 

 

 

11/29/2007

 

300

Martinsville

 

VA

 

 

 

246,820

 

373,653

 

None

 

None

 

246,820

 

373,653

 

620,473

 

221,071

 

 

 

3/19/2003

 

300

Martinsville

 

VA

 

 

 

83,521

 

128,706

 

None

 

None

 

83,521

 

128,706

 

212,227

 

76,144

 

 

 

3/19/2003

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Midlothian

 

VA

 

 

 

325,000

 

302,872

 

None

 

153

 

325,000

 

303,025

 

628,025

 

246,947

 

 

 

8/21/1997

 

300

Newport News

 

VA

 

 

 

490,616

 

605,304

 

None

 

None

 

490,616

 

605,304

 

1,095,920

 

447,839

 

1/20/2000

 

4/17/1998

 

300

Newport News

 

VA

 

 

 

1,519,830

 

1,900,170

 

None

 

None

 

1,519,830

 

1,900,170

 

3,420,000

 

78,684

 

 

 

12/21/2016

 

300

Newport News

 

VA

 

 

 

1,053,215

 

1,316,784

 

None

 

None

 

1,053,215

 

1,316,784

 

2,369,999

 

54,527

 

 

 

12/21/2016

 

300

Norfolk

 

VA

 

 

 

1,260,000

 

1,790,000

 

None

 

None

 

1,260,000

 

1,790,000

 

3,050,000

 

74,030

 

 

 

12/21/2016

 

300

Norfolk

 

VA

 

 

 

1,333,184

 

1,666,816

 

None

 

None

 

1,333,184

 

1,666,816

 

3,000,000

 

69,021

 

 

 

12/21/2016

 

300

Norton

 

VA

 

 

 

157,826

 

293,688

 

None

 

None

 

157,826

 

293,688

 

451,514

 

118,942

 

 

 

11/29/2007

 

300

Norton

 

VA

 

 

 

457,303

 

849,860

 

None

 

None

 

457,303

 

849,860

 

1,307,163

 

344,192

 

 

 

11/29/2007

 

300

Norton

 

VA

 

 

 

222,256

 

413,344

 

None

 

None

 

222,256

 

413,344

 

635,600

 

167,403

 

 

 

11/29/2007

 

300

Pound

 

VA

 

 

 

256,170

 

476,327

 

None

 

None

 

256,170

 

476,327

 

732,497

 

192,911

 

 

 

11/29/2007

 

300

Pound

 

VA

 

 

 

276,303

 

513,717

 

None

 

None

 

276,303

 

513,717

 

790,020

 

208,054

 

 

 

11/29/2007

 

300

Richlands

 

VA

 

 

 

492,303

 

915,307

 

None

 

None

 

492,303

 

915,307

 

1,407,610

 

370,698

 

 

 

11/29/2007

 

300

Richlands

 

VA

 

 

 

140,051

 

261,125

 

None

 

None

 

140,051

 

261,125

 

401,176

 

105,754

 

 

 

11/29/2007

 

300

Richmond

 

VA

 

 

 

700,000

 

400,740

 

None

 

None

 

700,000

 

400,740

 

1,100,740

 

315,909

 

 

 

4/17/1998

 

300

Richmond

 

VA

 

 

 

1,000,000

 

740

 

None

 

None

 

1,000,000

 

740

 

1,000,740

 

576

 

 

 

4/17/1998

 

300

Richmond

 

VA

 

 

 

700,000

 

100,695

 

None

 

None

 

700,000

 

100,695

 

800,695

 

79,374

 

 

 

4/17/1998

 

300

Richmond

 

VA

 

 

 

1,144,841

 

3,371,146

 

None

 

None

 

1,144,841

 

3,371,146

 

4,515,987

 

2,071,414

 

 

 

8/22/2002

 

300

Richmond

 

VA

 

 

 

298,227

 

451,014

 

None

 

None

 

298,227

 

451,014

 

749,241

 

266,843

 

 

 

3/19/2003

 

300

Richmond

 

VA

 

 

 

213,982

 

324,659

 

None

 

None

 

213,982

 

324,659

 

538,641

 

192,082

 

 

 

3/19/2003

 

300

Richmond

 

VA

 

 

 

482,735

 

727,776

 

None

 

None

 

482,735

 

727,776

 

1,210,511

 

430,594

 

 

 

3/19/2003

 

300

Richmond

 

VA

 

 

 

350,453

 

529,365

 

None

 

None

 

350,453

 

529,365

 

879,818

 

313,200

 

 

 

3/19/2003

 

300

Richmond

 

VA

 

 

 

323,496

 

488,918

 

None

 

None

 

323,496

 

488,918

 

812,414

 

289,269

 

 

 

3/19/2003

 

300

Richmond

 

VA

 

 

 

278,443

 

421,584

 

None

 

None

 

278,443

 

421,584

 

700,027

 

249,430

 

 

 

3/19/2003

 

300

Roanoke

 

VA

 

 

 

325,000

 

575,366

 

None

 

None

 

325,000

 

575,366

 

900,366

 

284,806

 

 

 

8/18/2005

 

300

Rosedale

 

VA

 

 

 

211,147

 

393,160

 

None

 

None

 

211,147

 

393,160

 

604,307

 

159,228

 

 

 

11/29/2007

 

300

Saint Paul

 

VA

 

 

 

334,803

 

622,807

 

None

 

None

 

334,803

 

622,807

 

957,610

 

252,235

 

 

 

11/29/2007

 

300

Saint Paul

 

VA

 

 

 

422,303

 

785,307

 

None

 

None

 

422,303

 

785,307

 

1,207,610

 

318,048

 

 

 

11/29/2007

 

300

Sandston

 

VA

 

 

 

152,535

 

232,528

 

None

 

None

 

152,535

 

232,528

 

385,063

 

137,572

 

 

 

3/19/2003

 

300

South Boston

 

VA

 

 

 

160,893

 

244,778

 

None

 

None

 

160,893

 

244,778

 

405,671

 

144,820

 

 

 

3/19/2003

 

300

Staunton

 

VA

 

 

 

675,000

 

1,000,366

 

None

 

None

 

675,000

 

1,000,366

 

1,675,366

 

495,181

 

 

 

8/18/2005

 

300

Suffolk

 

VA

 

 

 

700,000

 

1,000,366

 

None

 

None

 

700,000

 

1,000,366

 

1,700,366

 

495,181

 

 

 

8/18/2005

 

300

Tazewell

 

VA

 

 

 

153,382

 

285,882

 

None

 

None

 

153,382

 

285,882

 

439,264

 

115,781

 

 

 

11/29/2007

 

300

Troutville

 

VA

 

 

 

575,000

 

975,366

 

(93,309

)

None

 

481,691

 

975,366

 

1,457,057

 

482,806

 

 

 

8/18/2005

 

300

Virginia Beach

 

VA

 

 

 

1,194,560

 

2,218,773

 

None

 

None

 

1,194,560

 

2,218,773

 

3,413,333

 

1,379,322

 

 

 

6/27/2002

 

300

Virginia Beach

 

VA

 

 

 

738,743

 

1,052,222

 

None

 

None

 

738,743

 

1,052,222

 

1,790,965

 

43,567

 

 

 

12/21/2016

 

300

Warrenton

 

VA

 

 

 

515,971

 

649,125

 

None

 

161

 

515,971

 

649,286

 

1,165,257

 

546,508

 

 

 

12/20/1996

 

300

Weber City

 

VA

 

 

 

369,803

 

687,345

 

None

 

None

 

369,803

 

687,345

 

1,057,148

 

278,373

 

 

 

11/29/2007

 

300

Williamsburg

 

VA

 

 

 

838,172

 

1,556,910

 

None

 

None

 

838,172

 

1,556,910

 

2,395,082

 

967,803

 

 

 

6/27/2002

 

300

Wise

 

VA

 

 

 

334,803

 

622,360

 

None

 

None

 

334,803

 

622,360

 

957,163

 

252,054

 

 

 

11/29/2007

 

300

Wise

 

VA

 

 

 

66,733

 

124,517

 

None

 

None

 

66,733

 

124,517

 

191,250

 

50,428

 

 

 

11/29/2007

 

300

Wise

 

VA

 

 

 

527,303

 

979,860

 

None

 

None

 

527,303

 

979,860

 

1,507,163

 

396,842

 

 

 

11/29/2007

 

300

Wytheville

 

VA

 

 

 

1,222,535

 

1,577,830

 

None

 

None

 

1,222,535

 

1,577,830

 

2,800,365

 

781,026

 

 

 

8/18/2005

 

300

Yorktown

 

VA

 

 

 

309,435

 

447,144

 

None

 

None

 

309,435

 

447,144

 

756,579

 

352,483

 

 

 

4/17/1998

 

300

Yorktown

 

VA

 

 

 

2,121,289

 

4,701,469

 

1,623

 

None

 

2,121,289

 

4,703,092

 

6,824,381

 

933,256

 

 

 

1/22/2013

 

300

Tumwater

 

WA

 

 

 

270,000

 

1,142,229

 

None

 

None

 

270,000

 

1,142,229

 

1,412,229

 

47,593

 

 

 

12/21/2016

 

300

East Troy

 

WI

 

 

 

578,813

 

1,072,938

 

2,000

 

None

 

578,813

 

1,074,938

 

1,653,751

 

346,728

 

 

 

12/28/2009

 

300

Ellsworth

 

WI

 

 

 

175,000

 

323,500

 

1,500

 

None

 

175,000

 

325,000

 

500,000

 

92,182

 

 

 

12/1/2010

 

300

Menomonie

 

WI

 

 

 

770,442

 

1,428,821

 

2,000

 

None

 

770,442

 

1,430,821

 

2,201,263

 

403,868

 

 

 

12/1/2010

 

300

Menomonie

 

WI

 

 

 

175,000

 

323,000

 

2,000

 

None

 

175,000

 

325,000

 

500,000

 

92,395

 

 

 

12/1/2010

 

300

Menomonie

 

WI

 

 

 

441,256

 

817,975

 

1,500

 

None

 

441,256

 

819,475

 

1,260,731

 

231,459

 

 

 

12/1/2010

 

300

Mondovi

 

WI

 

 

 

175,000

 

323,500

 

1,500

 

None

 

175,000

 

325,000

 

500,000

 

92,182

 

 

 

12/1/2010

 

300

Osseo

 

WI

 

 

 

613,373

 

1,136,622

 

2,500

 

None

 

613,373

 

1,139,122

 

1,752,495

 

321,919

 

 

 

12/1/2010

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Crafts and novelties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Enterprise

 

AL

 

 

 

780,000

 

3,201,454

 

None

 

None

 

780,000

 

3,201,454

 

3,981,454

 

133,394

 

 

 

12/29/2016

 

300

Morgan Hill

 

CA

 

 

 

319,063

 

2,518,205

 

None

 

None

 

319,063

 

2,518,205

 

2,837,268

 

533,020

 

 

 

9/18/2012

 

300

Rancho Cucamonga

 

CA

 

 

 

2,790,740

 

4,713,106

 

45,796

 

None

 

2,790,740

 

4,758,902

 

7,549,642

 

1,013,825

 

 

 

9/18/2012

 

300

Roseville

 

CA

 

 

 

1,415,674

 

4,367,269

 

None

 

None

 

1,415,674

 

4,367,269

 

5,782,943

 

924,405

 

 

 

9/18/2012

 

300

Temecula

 

CA

 

 

 

2,027,441

 

4,644,558

 

9,194

 

None

 

2,027,441

 

4,653,752

 

6,681,193

 

984,452

 

 

 

9/18/2012

 

300

Clermont

 

FL

 

 

 

980,500

 

4,587,292

 

None

 

None

 

980,500

 

4,587,292

 

5,567,792

 

867,056

 

5/10/2013

 

6/26/2012

 

300

Cutler Bay

 

FL

 

 

 

743,498

 

657,485

 

511,710

 

205

 

743,498

 

1,169,400

 

1,912,898

 

749,068

 

 

 

12/31/1998

 

300

Albany

 

GA

 

 

 

653,464

 

10,410,873

 

None

 

140,686

 

653,464

 

10,551,559

 

11,205,023

 

5,411

 

 

 

1/22/2013

 

420

Rockford

 

IL

 

 

 

159,587

 

618,398

 

178,656

 

211

 

159,587

 

797,265

 

956,852

 

578,058

 

 

 

11/26/1996

 

300

Hickory

 

NC

 

 

 

1,400,000

 

4,894,632

 

(569

)

None

 

1,400,000

 

4,894,063

 

6,294,063

 

136,818

 

3/8/2017

 

6/8/2016

 

300

Minot

 

ND

 

 

 

500,000

 

2,514,029

 

None

 

None

 

500,000

 

2,514,029

 

3,014,029

 

129,892

 

 

 

9/15/2016

 

300

Clovis

 

NM

 

 

 

150,000

 

2,939,618

 

53,910

 

None

 

150,000

 

2,993,528

 

3,143,528

 

438,459

 

 

 

6/30/2014

 

300

Stony Brook

 

NY

 

 

 

980,000

 

1,801,586

 

78,970

 

None

 

980,000

 

1,880,556

 

2,860,556

 

1,379,583

 

 

 

1/11/1999

 

300

Columbia

 

SC

 

 

 

1,102,910

 

4,391,377

 

None

 

None

 

1,102,910

 

4,391,377

 

5,494,287

 

687,619

 

1/27/2014

 

6/21/2013

 

300

Mt Juliet

 

TN

 

 

 

2,449,395

 

6,074,357

 

None

 

None

 

2,449,395

 

6,074,357

 

8,523,752

 

799,711

 

5/30/2014

 

12/10/2013

 

300

Morgantown

 

WV

 

 

 

1,790,000

 

3,812,134

 

None

 

None

 

1,790,000

 

3,812,134

 

5,602,134

 

82,596

 

 

 

6/30/2017

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diversified industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jacksonville

 

FL

 

 

 

2,210,000

 

41,394,890

 

None

 

None

 

2,210,000

 

41,394,890

 

43,604,890

 

3,198,717

 

10/30/2014

 

2/25/2015

 

420

West Point

 

GA

 

 

 

430,000

 

12,263,738

 

114,454

 

None

 

430,000

 

12,378,192

 

12,808,192

 

664,688

 

 

 

2/3/2016

 

420

Cedar Rapids

 

IA

 

 

 

1,000,000

 

12,981,440

 

None

 

None

 

1,000,000

 

12,981,440

 

13,981,440

 

1,560,864

 

 

 

10/10/2013

 

420

Buffalo Grove

 

IL

 

9,933,951

 

3,130,000

 

17,353,386

 

None

 

None

 

3,130,000

 

17,353,386

 

20,483,386

 

1,838,633

 

 

 

4/1/2014

 

420

Portland

 

TN

 

 

 

1,481,370

 

10,969,189

 

None

 

None

 

1,481,370

 

10,969,189

 

12,450,559

 

2,321,812

 

 

 

9/19/2012

 

300

Deer Park

 

TX

 

9,790,000

 

2,410,000

 

13,364,183

 

None

 

None

 

2,410,000

 

13,364,183

 

15,774,183

 

1,415,967

 

 

 

4/1/2014

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dollar stores

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Andalusia

 

AL

 

 

 

334,025

 

1,085,582

 

None

 

None

 

334,025

 

1,085,582

 

1,419,607

 

215,307

 

 

 

1/22/2013

 

300

Ariton

 

AL

 

 

 

113,182

 

824,898

 

None

 

None

 

113,182

 

824,898

 

938,080

 

130,609

 

 

 

1/31/2014

 

300

Bessemer

 

AL

 

 

 

391,797

 

1,273,339

 

None

 

None

 

391,797

 

1,273,339

 

1,665,136

 

252,546

 

 

 

1/22/2013

 

300

Bessemer

 

AL

 

 

 

279,833

 

1,100,867

 

None

 

None

 

279,833

 

1,100,867

 

1,380,700

 

192,652

 

 

 

8/22/2013

 

300

Birmingham

 

AL

 

 

 

707,673

 

1,314,251

 

None

 

None

 

707,673

 

1,314,251

 

2,021,924

 

291,326

 

 

 

6/1/2012

 

300

Birmingham

 

AL

 

 

 

322,861

 

599,600

 

None

 

None

 

322,861

 

599,600

 

922,461

 

120,919

 

 

 

12/14/2012

 

300

Birmingham

 

AL

 

 

 

248,925

 

979,275

 

None

 

None

 

248,925

 

979,275

 

1,228,200

 

171,373

 

 

 

8/22/2013

 

300

Birmingham

 

AL

 

 

 

235,245

 

925,455

 

None

 

None

 

235,245

 

925,455

 

1,160,700

 

161,955

 

 

 

8/22/2013

 

300

Birmingham

 

AL

 

 

 

265,160

 

1,043,140

 

None

 

None

 

265,160

 

1,043,140

 

1,308,300

 

182,550

 

 

 

8/22/2013

 

300

Birmingham

 

AL

 

 

 

312,444

 

1,229,156

 

None

 

None

 

312,444

 

1,229,156

 

1,541,600

 

215,102

 

 

 

8/22/2013

 

300

Birmingham

 

AL

 

 

 

266,882

 

1,049,918

 

None

 

None

 

266,882

 

1,049,918

 

1,316,800

 

183,736

 

 

 

8/22/2013

 

300

Camp Hill

 

AL

 

 

 

127,780

 

851,515

 

None

 

None

 

127,780

 

851,515

 

979,295

 

134,823

 

 

 

1/24/2014

 

300

Castleberry

 

AL

 

 

 

121,658

 

810,716

 

None

 

None

 

121,658

 

810,716

 

932,374

 

128,363

 

 

 

1/24/2014

 

300

Cedar Bluff

 

AL

 

 

 

160,037

 

836,150

 

None

 

None

 

160,037

 

836,150

 

996,187

 

132,390

 

 

 

1/24/2014

 

300

Center Point

 

AL

 

 

 

232,043

 

912,857

 

None

 

None

 

232,043

 

912,857

 

1,144,900

 

159,750

 

 

 

8/22/2013

 

300

Clanton

 

AL

 

 

 

300,000

 

962,598

 

None

 

None

 

300,000

 

962,598

 

1,262,598

 

152,411

 

 

 

1/31/2014

 

300

Crossville

 

AL

 

 

 

268,814

 

873,647

 

None

 

None

 

268,814

 

873,647

 

1,142,461

 

173,273

 

 

 

1/22/2013

 

300

Cullman

 

AL

 

 

 

277,067

 

685,954

 

None

 

None

 

277,067

 

685,954

 

963,021

 

108,609

 

 

 

1/24/2014

 

300

Decatur

 

AL

 

 

 

301,085

 

559,159

 

None

 

None

 

301,085

 

559,159

 

860,244

 

123,947

 

 

 

6/1/2012

 

300

Decatur

 

AL

 

 

 

269,275

 

765,035

 

None

 

None

 

269,275

 

765,035

 

1,034,310

 

121,131

 

 

 

1/31/2014

 

300

Duncanville

 

AL

 

 

 

162,574

 

786,023

 

None

 

None

 

162,574

 

786,023

 

948,597

 

124,454

 

 

 

1/31/2014

 

300

Enterprise

 

AL

 

 

 

294,944

 

837,962

 

None

 

None

 

294,944

 

837,962

 

1,132,906

 

132,677

 

 

 

1/31/2014

 

300

Eufaula

 

AL

 

 

 

201,712

 

1,053,886

 

None

 

None

 

201,712

 

1,053,886

 

1,255,598

 

166,865

 

 

 

1/24/2014

 

300

Evergreen

 

AL

 

 

 

193,413

 

1,010,529

 

None

 

None

 

193,413

 

1,010,529

 

1,203,942

 

160,000

 

 

 

1/24/2014

 

300

Florence

 

AL

 

 

 

419,440

 

778,959

 

None

 

None

 

419,440

 

778,959

 

1,198,399

 

157,090

 

 

 

12/14/2012

 

300

Forestdale

 

AL

 

 

 

287,839

 

1,132,361

 

None

 

None

 

287,839

 

1,132,361

 

1,420,200

 

198,163

 

 

 

8/22/2013

 

300

Frisco City

 

AL

 

 

 

163,025

 

788,202

 

None

 

None

 

163,025

 

788,202

 

951,227

 

124,799

 

 

 

1/31/2014

 

300

Gilbertown

 

AL

 

 

 

171,006

 

1,246,332

 

None

 

None

 

171,006

 

1,246,332

 

1,417,338

 

197,336

 

 

 

1/31/2014

 

300

Huntsville

 

AL

 

 

 

501,318

 

931,020

 

None

 

None

 

501,318

 

931,020

 

1,432,338

 

206,376

 

 

 

6/1/2012

 

300

Jasper

 

AL

 

 

 

276,246

 

897,800

 

None

 

None

 

276,246

 

897,800

 

1,174,046

 

178,064

 

 

 

1/22/2013

 

300

Jasper

 

AL

 

 

 

282,574

 

918,366

 

None

 

None

 

282,574

 

918,366

 

1,200,940

 

182,143

 

 

 

1/22/2013

 

300

Jasper

 

AL

 

 

 

280,753

 

912,446

 

None

 

None

 

280,753

 

912,446

 

1,193,199

 

180,968

 

 

 

1/22/2013

 

300

Lillian

 

AL

 

 

 

203,832

 

985,500

 

None

 

None

 

203,832

 

985,500

 

1,189,332

 

156,038

 

 

 

1/31/2014

 

300

Livingston

 

AL

 

 

 

239,319

 

941,481

 

None

 

None

 

239,319

 

941,481

 

1,180,800

 

164,759

 

 

 

8/22/2013

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marbury

 

AL

 

 

 

160,000

 

1,006,765

 

None

 

None

 

160,000

 

1,006,765

 

1,166,765

 

159,404

 

 

 

1/31/2014

 

300

Mobile

 

AL

 

 

 

212,971

 

837,829

 

None

 

None

 

212,971

 

837,829

 

1,050,800

 

146,620

 

 

 

8/22/2013

 

300

Montgomery

 

AL

 

 

 

532,170

 

988,317

 

None

 

None

 

532,170

 

988,317

 

1,520,487

 

199,311

 

 

 

12/14/2012

 

300

Montgomery

 

AL

 

 

 

366,980

 

681,533

 

None

 

None

 

366,980

 

681,533

 

1,048,513

 

137,443

 

 

 

12/14/2012

 

300

Moundville

 

AL

 

 

 

230,583

 

907,117

 

None

 

None

 

230,583

 

907,117

 

1,137,700

 

158,745

 

 

 

8/22/2013

 

300

Odenville

 

AL

 

 

 

176,981

 

855,676

 

None

 

None

 

176,981

 

855,676

 

1,032,657

 

135,482

 

 

 

1/31/2014

 

300

Opelika

 

AL

 

 

 

331,598

 

1,077,694

 

None

 

None

 

331,598

 

1,077,694

 

1,409,292

 

213,743

 

 

 

1/22/2013

 

300

Prichard

 

AL

 

 

 

429,411

 

797,478

 

None

 

None

 

429,411

 

797,478

 

1,226,889

 

160,825

 

 

 

12/14/2012

 

300

Remlap

 

AL

 

 

 

177,711

 

859,208

 

None

 

None

 

177,711

 

859,208

 

1,036,919

 

136,041

 

 

 

1/31/2014

 

300

Samson

 

AL

 

 

 

181,064

 

1,319,631

 

None

 

None

 

181,064

 

1,319,631

 

1,500,695

 

208,942

 

 

 

1/31/2014

 

300

Shelby

 

AL

 

 

 

277,350

 

901,388

 

None

 

None

 

277,350

 

901,388

 

1,178,738

 

178,775

 

 

 

1/22/2013

 

300

Slocomb

 

AL

 

 

 

268,240

 

1,055,260

 

None

 

None

 

268,240

 

1,055,260

 

1,323,500

 

184,670

 

 

 

8/22/2013

 

300

Slocomb

 

AL

 

 

 

280,000

 

2,597,341

 

None

 

None

 

280,000

 

2,597,341

 

2,877,341

 

411,246

 

 

 

1/31/2014

 

300

Smiths Station

 

AL

 

 

 

359,391

 

1,168,019

 

None

 

None

 

359,391

 

1,168,019

 

1,527,410

 

231,657

 

 

 

1/22/2013

 

300

Sycamore

 

AL

 

 

 

50,000

 

885,687

 

None

 

None

 

50,000

 

885,687

 

935,687

 

140,234

 

 

 

1/31/2014

 

300

Sylacauga

 

AL

 

 

 

147,110

 

980,328

 

None

 

None

 

147,110

 

980,328

 

1,127,438

 

155,219

 

 

 

1/24/2014

 

300

Thorsby

 

AL

 

 

 

298,516

 

970,178

 

None

 

None

 

298,516

 

970,178

 

1,268,694

 

192,419

 

 

 

1/22/2013

 

300

Troy

 

AL

 

 

 

257,985

 

1,014,915

 

None

 

None

 

257,985

 

1,014,915

 

1,272,900

 

177,610

 

 

 

8/22/2013

 

300

Uriah

 

AL

 

 

 

140,000

 

776,826

 

None

 

None

 

140,000

 

776,826

 

916,826

 

122,997

 

 

 

1/31/2014

 

300

Weaver

 

AL

 

 

 

220,771

 

627,231

 

19,229

 

None

 

220,771

 

646,460

 

867,231

 

106,134

 

 

 

12/20/2013

 

300

Webb

 

AL

 

 

 

173,294

 

905,411

 

None

 

None

 

173,294

 

905,411

 

1,078,705

 

143,357

 

 

 

1/24/2014

 

300

Wedowee

 

AL

 

 

 

251,256

 

988,444

 

None

 

None

 

251,256

 

988,444

 

1,239,700

 

172,978

 

 

 

8/22/2013

 

300

York

 

AL

 

 

 

218,727

 

860,473

 

None

 

None

 

218,727

 

860,473

 

1,079,200

 

150,583

 

 

 

8/22/2013

 

300

Atkins

 

AR

 

 

 

264,657

 

491,507

 

None

 

None

 

264,657

 

491,507

 

756,164

 

99,120

 

 

 

12/14/2012

 

300

Black Rock

 

AR

 

 

 

137,428

 

915,809

 

None

 

None

 

137,428

 

915,809

 

1,053,237

 

145,003

 

 

 

1/24/2014

 

300

Cabot

 

AR

 

 

 

479,323

 

1,186,692

 

None

 

None

 

479,323

 

1,186,692

 

1,666,015

 

187,893

 

 

 

1/24/2014

 

300

Clarendon

 

AR

 

 

 

156,618

 

1,043,684

 

None

 

None

 

156,618

 

1,043,684

 

1,200,302

 

165,250

 

 

 

1/24/2014

 

300

Dermott

 

AR

 

 

 

137,299

 

540,136

 

None

 

None

 

137,299

 

540,136

 

677,435

 

92,723

 

 

 

9/18/2013

 

300

Drasco

 

AR

 

 

 

135,176

 

900,796

 

None

 

None

 

135,176

 

900,796

 

1,035,972

 

142,626

 

 

 

1/24/2014

 

300

England

 

AR

 

 

 

147,813

 

985,008

 

None

 

None

 

147,813

 

985,008

 

1,132,821

 

155,960

 

 

 

1/24/2014

 

300

Greenbrier

 

AR

 

 

 

277,423

 

1,449,455

 

None

 

None

 

277,423

 

1,449,455

 

1,726,878

 

229,497

 

 

 

1/24/2014

 

300

Gurdon

 

AR

 

 

 

99,815

 

727,471

 

None

 

None

 

99,815

 

727,471

 

827,286

 

120,033

 

 

 

11/20/2013

 

300

Hampton

 

AR

 

 

 

128,214

 

854,405

 

None

 

None

 

128,214

 

854,405

 

982,619

 

135,281

 

 

 

1/24/2014

 

300

Haskell

 

AR

 

 

 

191,254

 

999,249

 

None

 

None

 

191,254

 

999,249

 

1,190,503

 

158,214

 

 

 

1/24/2014

 

300

Hope

 

AR

 

 

 

421,413

 

782,623

 

None

 

None

 

421,413

 

782,623

 

1,204,036

 

173,482

 

 

 

6/1/2012

 

300

Huntsville

 

AR

 

 

 

168,806

 

1,124,906

 

None

 

None

 

168,806

 

1,124,906

 

1,293,712

 

178,110

 

 

 

1/24/2014

 

300

Jasper

 

AR

 

 

 

110,000

 

835,511

 

None

 

None

 

110,000

 

835,511

 

945,511

 

132,289

 

 

 

1/24/2014

 

300

Jonesboro

 

AR

 

 

 

240,000

 

867,698

 

None

 

None

 

240,000

 

867,698

 

1,107,698

 

137,385

 

 

 

1/24/2014

 

300

Jonesboro

 

AR

 

 

 

380,000

 

806,115

 

None

 

None

 

380,000

 

806,115

 

1,186,115

 

127,635

 

 

 

1/24/2014

 

300

Little Rock

 

AR

 

 

 

248,520

 

977,680

 

None

 

None

 

248,520

 

977,680

 

1,226,200

 

171,094

 

 

 

8/22/2013

 

300

Little Rock

 

AR

 

 

 

157,195

 

618,405

 

None

 

None

 

157,195

 

618,405

 

775,600

 

108,221

 

 

 

8/22/2013

 

300

Malvern

 

AR

 

 

 

139,776

 

570,280

 

None

 

None

 

139,776

 

570,280

 

710,056

 

113,105

 

 

 

1/24/2013

 

300

Marianna

 

AR

 

 

 

230,373

 

427,836

 

None

 

None

 

230,373

 

427,836

 

658,209

 

86,280

 

 

 

12/14/2012

 

300

Ola

 

AR

 

 

 

126,412

 

842,394

 

None

 

None

 

126,412

 

842,394

 

968,806

 

133,379

 

 

 

1/24/2014

 

300

Pine Bluff

 

AR

 

 

 

562,282

 

1,044,237

 

None

 

None

 

562,282

 

1,044,237

 

1,606,519

 

231,473

 

 

 

6/1/2012

 

300

Pine Bluff

 

AR

 

 

 

579,851

 

1,076,865

 

None

 

None

 

579,851

 

1,076,865

 

1,656,716

 

217,168

 

 

 

12/14/2012

 

300

Pine Bluff

 

AR

 

 

 

243,412

 

602,631

 

None

 

None

 

243,412

 

602,631

 

846,043

 

95,417

 

 

 

1/24/2014

 

300

Pine Bluff

 

AR

 

 

 

279,924

 

693,026

 

None

 

None

 

279,924

 

693,026

 

972,950

 

109,729

 

 

 

1/24/2014

 

300

Prescott

 

AR

 

 

 

119,075

 

793,501

 

None

 

None

 

119,075

 

793,501

 

912,576

 

125,638

 

 

 

1/24/2014

 

300

Sherwood

 

AR

 

 

 

225,665

 

887,766

 

None

 

None

 

225,665

 

887,766

 

1,113,431

 

158,318

 

 

 

7/9/2013

 

300

West Fork

 

AR

 

 

 

281,211

 

1,469,249

 

None

 

None

 

281,211

 

1,469,249

 

1,750,460

 

232,631

 

 

 

1/24/2014

 

300

West Helena

 

AR

 

 

 

331,612

 

615,851

 

None

 

None

 

331,612

 

615,851

 

947,463

 

124,197

 

 

 

12/14/2012

 

300

Bisbee

 

AZ

 

 

 

181,118

 

946,292

 

None

 

None

 

181,118

 

946,292

 

1,127,410

 

149,830

 

 

 

1/24/2014

 

300

Camp Verde

 

AZ

 

 

 

244,826

 

454,678

 

None

 

None

 

244,826

 

454,678

 

699,504

 

100,787

 

 

 

6/1/2012

 

300

Douglas

 

AZ

 

 

 

188,809

 

986,472

 

None

 

None

 

188,809

 

986,472

 

1,175,281

 

156,191

 

 

 

1/24/2014

 

300

Gila Bend

 

AZ

 

 

 

161,460

 

1,075,950

 

None

 

None

 

161,460

 

1,075,950

 

1,237,410

 

170,359

 

 

 

1/24/2014

 

300

Phoenix

 

AZ

 

 

 

712,708

 

1,323,600

 

None

 

None

 

712,708

 

1,323,600

 

2,036,308

 

293,398

 

 

 

6/1/2012

 

300

Phoenix

 

AZ

 

 

 

642,917

 

1,193,990

 

None

 

None

 

642,917

 

1,193,990

 

1,836,907

 

264,668

 

 

 

6/1/2012

 

300

Phoenix

 

AZ

 

 

 

721,637

 

1,340,182

 

None

 

None

 

721,637

 

1,340,182

 

2,061,819

 

297,074

 

 

 

6/1/2012

 

300

Phoenix

 

AZ

 

 

 

580,167

 

1,077,452

 

None

 

None

 

580,167

 

1,077,452

 

1,657,619

 

238,835

 

 

 

6/1/2012

 

300

Phoenix

 

AZ

 

 

 

448,400

 

1,118,063

 

None

 

None

 

448,400

 

1,118,063

 

1,566,463

 

1,863

 

 

 

12/28/2017

 

300

Salome

 

AZ

 

 

 

251,540

 

989,560

 

None

 

None

 

251,540

 

989,560

 

1,241,100

 

173,173

 

 

 

8/22/2013

 

300

Tolleson

 

AZ

 

 

 

581,123

 

1,079,228

 

None

 

None

 

581,123

 

1,079,228

 

1,660,351

 

239,229

 

 

 

6/1/2012

 

300

Tucson

 

AZ

 

 

 

461,061

 

856,257

 

None

 

None

 

461,061

 

856,257

 

1,317,318

 

189,804

 

 

 

6/1/2012

 

300

Tucson

 

AZ

 

 

 

259,447

 

1,020,665

 

None

 

None

 

259,447

 

1,020,665

 

1,280,112

 

185,421

 

 

 

6/21/2013

 

300

Williams

 

AZ

 

 

 

160,391

 

1,168,960

 

None

 

None

 

160,391

 

1,168,960

 

1,329,351

 

196,775

 

 

 

10/15/2013

 

300

Yuma

 

AZ

 

 

 

225,609

 

418,988

 

None

 

None

 

225,609

 

418,988

 

644,597

 

92,876

 

 

 

6/1/2012

 

300

Yuma

 

AZ

 

 

 

276,672

 

1,088,428

 

None

 

None

 

276,672

 

1,088,428

 

1,365,100

 

190,475

 

 

 

8/22/2013

 

300

Yuma

 

AZ

 

 

 

418,158

 

1,188,024

 

None

 

None

 

418,158

 

1,188,024

 

1,606,182

 

180,184

 

 

 

3/14/2014

 

300

Elfrida

 

AZ

 

 

 

185,103

 

1,020,564

 

None

 

None

 

185,103

 

1,020,564

 

1,205,667

 

1,701

 

 

 

12/28/2017

 

300

Meadview

 

AZ

 

 

 

152,210

 

839,209

 

None

 

None

 

152,210

 

839,209

 

991,419

 

1,399

 

 

 

12/28/2017

 

300

Seligman

 

AZ

 

 

 

185,774

 

1,024,264

 

None

 

None

 

185,774

 

1,024,264

 

1,210,038

 

1,707

 

 

 

12/28/2017

 

300

Wittman

 

AZ

 

 

 

223,712

 

1,266,497

 

None

 

None

 

223,712

 

1,266,497

 

1,490,209

 

2,111

 

 

 

12/28/2017

 

300

Akron

 

CO

 

 

 

318,751

 

1,035,939

 

None

 

None

 

318,751

 

1,035,939

 

1,354,690

 

205,461

 

 

 

1/22/2013

 

300

Aurora

 

CO

 

 

 

523,052

 

1,304,202

 

None

 

None

 

523,052

 

1,304,202

 

1,827,254

 

2,174

 

 

 

12/28/2017

 

300

Federal Heights

 

CO

 

 

 

561,752

 

1,043,254

 

None

 

None

 

561,752

 

1,043,254

 

1,605,006

 

231,255

 

 

 

6/1/2012

 

300

Holyoke

 

CO

 

 

 

361,977

 

1,176,425

 

None

 

None

 

361,977

 

1,176,425

 

1,538,402

 

233,324

 

 

 

1/22/2013

 

300

Keenesburg

 

CO

 

 

 

339,959

 

1,104,866

 

None

 

None

 

339,959

 

1,104,866

 

1,444,825

 

219,132

 

 

 

1/22/2013

 

300

Silver Cliff

 

CO

 

 

 

245,520

 

797,939

 

1,950

 

None

 

245,520

 

799,889

 

1,045,409

 

160,208

 

 

 

1/22/2013

 

300

Anthony

 

FL

 

 

 

259,074

 

1,353,588

 

None

 

None

 

259,074

 

1,353,588

 

1,612,662

 

214,318

 

 

 

1/24/2014

 

300

Baldwin

 

FL

 

 

 

252,938

 

995,062

 

None

 

None

 

252,938

 

995,062

 

1,248,000

 

174,136

 

 

 

8/22/2013

 

300

Bartow

 

FL

 

 

 

476,372

 

884,692

 

None

 

None

 

476,372

 

884,692

 

1,361,064

 

178,413

 

 

 

12/14/2012

 

300

Bradenton

 

FL

 

 

 

255,520

 

739,091

 

573

 

None

 

255,520

 

739,664

 

995,184

 

73,928

 

 

 

10/9/2015

 

267

Brandon

 

FL

 

 

 

605,652

 

1,124,782

 

None

 

None

 

605,652

 

1,124,782

 

1,730,434

 

226,831

 

 

 

12/14/2012

 

300

Cape Coral

 

FL

 

 

 

310,235

 

1,220,465

 

None

 

None

 

310,235

 

1,220,465

 

1,530,700

 

213,581

 

 

 

8/22/2013

 

300

Cape Coral

 

FL

 

 

 

299,371

 

1,177,729

 

None

 

None

 

299,371

 

1,177,729

 

1,477,100

 

206,103

 

 

 

8/22/2013

 

300

Casselberry

 

FL

 

 

 

314,673

 

1,237,927

 

None

 

None

 

314,673

 

1,237,927

 

1,552,600

 

216,637

 

 

 

8/22/2013

 

300

Century

 

FL

 

 

 

215,484

 

847,716

 

None

 

None

 

215,484

 

847,716

 

1,063,200

 

148,350

 

 

 

8/22/2013

 

300

Citrus Springs

 

FL

 

 

 

210,810

 

1,101,421

 

None

 

None

 

210,810

 

1,101,421

 

1,312,231

 

174,392

 

 

 

1/24/2014

 

300

Cottondale

 

FL

 

 

 

458,337

 

851,196

 

None

 

None

 

458,337

 

851,196

 

1,309,533

 

171,658

 

 

 

12/14/2012

 

300

Cross City

 

FL

 

 

 

308,087

 

1,609,668

 

None

 

None

 

308,087

 

1,609,668

 

1,917,755

 

254,864

 

 

 

1/24/2014

 

300

Crystal River

 

FL

 

 

 

432,782

 

803,739

 

None

 

None

 

432,782

 

803,739

 

1,236,521

 

162,087

 

 

 

12/14/2012

 

300

Daytona Beach

 

FL

 

 

 

315,423

 

1,240,877

 

None

 

None

 

315,423

 

1,240,877

 

1,556,300

 

217,153

 

 

 

8/22/2013

 

300

Debary

 

FL

 

 

 

257,762

 

1,014,038

 

None

 

None

 

257,762

 

1,014,038

 

1,271,800

 

177,457

 

 

 

8/22/2013

 

300

DeFuniak Springs

 

FL

 

 

 

282,063

 

1,109,637

 

None

 

None

 

282,063

 

1,109,637

 

1,391,700

 

194,187

 

 

 

8/22/2013

 

300

Deland

 

FL

 

 

 

471,921

 

1,168,367

 

None

 

None

 

471,921

 

1,168,367

 

1,640,288

 

184,991

 

 

 

1/24/2014

 

300

Destin

 

FL

 

 

 

420,175

 

2,195,293

 

None

 

None

 

420,175

 

2,195,293

 

2,615,468

 

347,588

 

 

 

1/24/2014

 

300

Dover

 

FL

 

 

 

432,677

 

1,071,208

 

None

 

None

 

432,677

 

1,071,208

 

1,503,885

 

169,608

 

 

 

1/24/2014

 

300

Dundee

 

FL

 

 

 

250,810

 

986,690

 

None

 

None

 

250,810

 

986,690

 

1,237,500

 

172,671

 

 

 

8/22/2013

 

300

Dunedin

 

FL

 

 

 

353,830

 

1,391,970

 

None

 

None

 

353,830

 

1,391,970

 

1,745,800

 

243,595

 

 

 

8/22/2013

 

300

Edgewater

 

FL

 

 

 

579,101

 

1,433,719

 

None

 

None

 

579,101

 

1,433,719

 

2,012,820

 

227,006

 

 

 

1/24/2014

 

300

Eustis

 

FL

 

 

 

572,540

 

1,417,475

 

None

 

None

 

572,540

 

1,417,475

 

1,990,015

 

224,434

 

 

 

1/24/2014

 

300

Fanning Springs

 

FL

 

 

 

440,000

 

1,647,482

 

None

 

None

 

440,000

 

1,647,482

 

2,087,482

 

260,851

 

 

 

1/24/2014

 

300

Fern Park

 

FL

 

 

 

663,492

 

1,232,199

 

None

 

None

 

663,492

 

1,232,199

 

1,895,691

 

248,494

 

 

 

12/14/2012

 

300

Florahome

 

FL

 

 

 

197,567

 

1,316,563

 

None

 

None

 

197,567

 

1,316,563

 

1,514,130

 

208,456

 

 

 

1/24/2014

 

300

Floral City

 

FL

 

 

 

259,079

 

1,019,221

 

None

 

None

 

259,079

 

1,019,221

 

1,278,300

 

178,364

 

 

 

8/22/2013

 

300

Fort Meade

 

FL

 

 

 

261,728

 

1,367,452

 

None

 

None

 

261,728

 

1,367,452

 

1,629,180

 

216,513

 

 

 

1/24/2014

 

300

Fort Myers

 

FL

 

 

 

352,006

 

1,384,794

 

None

 

None

 

352,006

 

1,384,794

 

1,736,800

 

242,339

 

 

 

8/22/2013

 

300

Fort Myers

 

FL

 

 

 

313,964

 

1,235,136

 

None

 

None

 

313,964

 

1,235,136

 

1,549,100

 

216,149

 

 

 

8/22/2013

 

300

Fort Myers

 

FL

 

 

 

282,549

 

1,111,551

 

None

 

None

 

282,549

 

1,111,551

 

1,394,100

 

194,521

 

 

 

8/22/2013

 

300

Ft White

 

FL

 

 

 

200,000

 

947,109

 

61,239

 

None

 

200,000

 

1,008,348

 

1,208,348

 

153,843

 

 

 

1/15/2014

 

300

Ft. Walton Beach

 

FL

 

 

 

294,345

 

1,157,955

 

None

 

None

 

294,345

 

1,157,955

 

1,452,300

 

202,642

 

 

 

8/22/2013

 

300

Ft. White

 

FL

 

 

 

204,195

 

803,305

 

None

 

None

 

204,195

 

803,305

 

1,007,500

 

140,578

 

 

 

8/22/2013

 

300

Gainesville

 

FL

 

 

 

491,957

 

913,635

 

None

 

None

 

491,957

 

913,635

 

1,405,592

 

184,250

 

 

 

12/14/2012

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gainesville

 

FL

 

 

 

578,261

 

1,431,639

 

None

 

None

 

578,261

 

1,431,639

 

2,009,900

 

226,676

 

 

 

1/24/2014

 

300

Gainesville

 

FL

 

 

 

868,725

 

1,621,793

 

None

 

None

 

868,725

 

1,621,793

 

2,490,518

 

256,784

 

 

 

1/24/2014

 

300

Greensboro

 

FL

 

 

 

185,185

 

1,234,053

 

None

 

None

 

185,185

 

1,234,053

 

1,419,238

 

195,392

 

 

 

1/24/2014

 

300

Groveland

 

FL

 

 

 

101,782

 

189,258

 

None

 

None

 

101,782

 

189,258

 

291,040

 

142,256

 

 

 

3/31/1999

 

300

Groveland

 

FL

 

 

 

730,550

 

1,363,839

 

None

 

None

 

730,550

 

1,363,839

 

2,094,389

 

215,941

 

 

 

1/24/2014

 

300

Hilliard

 

FL

 

 

 

461,328

 

1,499,315

 

None

 

None

 

461,328

 

1,499,315

 

1,960,643

 

297,364

 

 

 

1/22/2013

 

300

Holiday

 

FL

 

 

 

287,353

 

1,130,447

 

None

 

None

 

287,353

 

1,130,447

 

1,417,800

 

197,828

 

 

 

8/22/2013

 

300

Holiday

 

FL

 

 

 

296,473

 

1,166,327

 

None

 

None

 

296,473

 

1,166,327

 

1,462,800

 

204,107

 

 

 

8/22/2013

 

300

Homosassa

 

FL

 

 

 

331,697

 

1,733,022

 

None

 

None

 

331,697

 

1,733,022

 

2,064,719

 

274,395

 

 

 

1/24/2014

 

300

Hudson

 

FL

 

 

 

485,785

 

902,173

 

None

 

None

 

485,785

 

902,173

 

1,387,958

 

181,938

 

 

 

12/14/2012

 

300

Hudson

 

FL

 

 

 

917,578

 

1,712,997

 

None

 

None

 

917,578

 

1,712,997

 

2,630,575

 

271,225

 

 

 

1/24/2014

 

300

Immokalee

 

FL

 

 

 

659,438

 

1,224,671

 

None

 

None

 

659,438

 

1,224,671

 

1,884,109

 

271,469

 

 

 

6/1/2012

 

300

Inglis

 

FL

 

 

 

221,544

 

871,556

 

None

 

None

 

221,544

 

871,556

 

1,093,100

 

152,522

 

 

 

8/22/2013

 

300

Inglis

 

FL

 

 

 

231,860

 

1,545,090

 

None

 

None

 

231,860

 

1,545,090

 

1,776,950

 

244,639

 

 

 

1/24/2014

 

300

Jacksonville

 

FL

 

 

 

479,745

 

890,954

 

None

 

None

 

479,745

 

890,954

 

1,370,699

 

197,495

 

 

 

6/1/2012

 

300

Jacksonville

 

FL

 

 

 

635,245

 

1,179,740

 

None

 

None

 

635,245

 

1,179,740

 

1,814,985

 

237,914

 

 

 

12/14/2012

 

300

Jacksonville

 

FL

 

 

 

577,368

 

1,072,255

 

None

 

None

 

577,368

 

1,072,255

 

1,649,623

 

216,238

 

 

 

12/14/2012

 

300

Jacksonville

 

FL

 

 

 

774,832

 

1,438,974

 

None

 

None

 

774,832

 

1,438,974

 

2,213,806

 

290,193

 

 

 

12/14/2012

 

300

Jacksonville

 

FL

 

 

 

580,539

 

1,078,144

 

None

 

None

 

580,539

 

1,078,144

 

1,658,683

 

217,426

 

 

 

12/14/2012

 

300

Jacksonville

 

FL

 

 

 

484,992

 

1,576,223

 

None

 

None

 

484,992

 

1,576,223

 

2,061,215

 

312,617

 

 

 

1/22/2013

 

300

Jacksonville

 

FL

 

 

 

284,535

 

1,119,365

 

None

 

None

 

284,535

 

1,119,365

 

1,403,900

 

195,889

 

 

 

8/22/2013

 

300

Jacksonville

 

FL

 

 

 

316,457

 

1,244,943

 

None

 

None

 

316,457

 

1,244,943

 

1,561,400

 

217,865

 

 

 

8/22/2013

 

300

Jacksonville

 

FL

 

 

 

717,739

 

1,181,877

 

None

 

None

 

717,739

 

1,181,877

 

1,899,616

 

117,743

 

 

 

10/9/2015

 

266

Jacksonville

 

FL

 

 

 

501,314

 

806,878

 

None

 

None

 

501,314

 

806,878

 

1,308,192

 

82,557

 

 

 

10/9/2015

 

259

Jasper

 

FL

 

 

 

397,823

 

738,814

 

None

 

None

 

397,823

 

738,814

 

1,136,637

 

148,994

 

 

 

12/14/2012

 

300

Kissimmee

 

FL

 

 

 

283,238

 

1,114,262

 

None

 

None

 

283,238

 

1,114,262

 

1,397,500

 

194,996

 

 

 

8/22/2013

 

300

Kissimmee

 

FL

 

 

 

444,433

 

1,268,502

 

None

 

None

 

444,433

 

1,268,502

 

1,712,935

 

171,248

 

 

 

8/15/2014

 

300

Lake City

 

FL

 

 

 

262,680

 

1,372,428

 

None

 

None

 

262,680

 

1,372,428

 

1,635,108

 

217,301

 

 

 

1/24/2014

 

300

Lake City

 

FL

 

 

 

275,994

 

1,441,991

 

None

 

None

 

275,994

 

1,441,991

 

1,717,985

 

228,315

 

 

 

1/24/2014

 

300

Lakeland

 

FL

 

 

 

342,755

 

636,546

 

None

 

None

 

342,755

 

636,546

 

979,301

 

141,101

 

 

 

6/1/2012

 

300

Lakeland

 

FL

 

 

 

455,575

 

846,067

 

None

 

None

 

455,575

 

846,067

 

1,301,642

 

170,624

 

 

 

12/14/2012

 

300

Lakeland

 

FL

 

 

 

249,452

 

981,348

 

None

 

None

 

249,452

 

981,348

 

1,230,800

 

171,736

 

 

 

8/22/2013

 

300

Largo

 

FL

 

 

 

567,646

 

1,054,201

 

None

 

None

 

567,646

 

1,054,201

 

1,621,847

 

212,597

 

 

 

12/14/2012

 

300

Laurel Hill

 

FL

 

 

 

330,715

 

1,074,825

 

None

 

None

 

330,715

 

1,074,825

 

1,405,540

 

213,174

 

 

 

1/22/2013

 

300

Lawtey

 

FL

 

 

 

186,088

 

1,240,070

 

None

 

None

 

186,088

 

1,240,070

 

1,426,158

 

196,344

 

 

 

1/24/2014

 

300

Lehigh Acres

 

FL

 

 

 

560,116

 

1,040,215

 

None

 

None

 

560,116

 

1,040,215

 

1,600,331

 

209,777

 

 

 

12/14/2012

 

300

Lehigh Acres

 

FL

 

 

 

391,588

 

1,540,512

 

None

 

None

 

391,588

 

1,540,512

 

1,932,100

 

269,590

 

 

 

8/22/2013

 

300

Masaryktown

 

FL

 

 

 

290,081

 

1,141,181

 

None

 

None

 

290,081

 

1,141,181

 

1,431,262

 

207,314

 

 

 

6/10/2013

 

300

Mascotte

 

FL

 

 

 

279,063

 

1,097,837

 

375

 

None

 

279,063

 

1,098,212

 

1,377,275

 

192,128

 

 

 

8/22/2013

 

300

Miami

 

FL

 

 

 

648,087

 

1,203,591

 

None

 

None

 

648,087

 

1,203,591

 

1,851,678

 

242,724

 

 

 

12/14/2012

 

300

Micco

 

FL

 

 

 

276,043

 

1,085,957

 

None

 

None

 

276,043

 

1,085,957

 

1,362,000

 

190,042

 

 

 

8/22/2013

 

300

Milton

 

FL

 

 

 

150,059

 

784,013

 

None

 

None

 

150,059

 

784,013

 

934,072

 

124,135

 

 

 

1/24/2014

 

300

Milton

 

FL

 

 

 

660,000

 

1,295,281

 

None

 

None

 

660,000

 

1,295,281

 

1,955,281

 

205,086

 

 

 

1/24/2014

 

300

Monticello

 

FL

 

 

 

335,167

 

1,751,150

 

None

 

None

 

335,167

 

1,751,150

 

2,086,317

 

277,265

 

 

 

1/24/2014

 

300

Ocala

 

FL

 

 

 

482,475

 

896,026

 

None

 

None

 

482,475

 

896,026

 

1,378,501

 

180,699

 

 

 

12/14/2012

 

300

Ocala

 

FL

 

 

 

258,877

 

1,018,423

 

None

 

None

 

258,877

 

1,018,423

 

1,277,300

 

178,224

 

 

 

8/22/2013

 

300

Ocala

 

FL

 

 

 

500,472

 

1,239,053

 

None

 

None

 

500,472

 

1,239,053

 

1,739,525

 

196,183

 

 

 

1/24/2014

 

300

Ocala

 

FL

 

 

 

470,580

 

1,165,046

 

None

 

None

 

470,580

 

1,165,046

 

1,635,626

 

184,466

 

 

 

1/24/2014

 

300

Ocklawaha

 

FL

 

 

 

261,265

 

1,365,037

 

None

 

None

 

261,265

 

1,365,037

 

1,626,302

 

216,131

 

 

 

1/24/2014

 

300

Opa Locka

 

FL

 

 

 

665,870

 

1,236,615

 

None

 

None

 

665,870

 

1,236,615

 

1,902,485

 

274,116

 

 

 

6/1/2012

 

300

Orlando

 

FL

 

 

 

351,337

 

1,382,163

 

None

 

None

 

351,337

 

1,382,163

 

1,733,500

 

241,878

 

 

 

8/22/2013

 

300

Orlando

 

FL

 

 

 

401,945

 

1,560,171

 

None

 

None

 

401,945

 

1,560,171

 

1,962,116

 

158,617

 

 

 

8/22/2013

 

300

Pace

 

FL

 

 

 

322,488

 

798,404

 

None

 

None

 

322,488

 

798,404

 

1,120,892

 

126,414

 

 

 

1/24/2014

 

300

Palatka

 

FL

 

 

 

311,775

 

1,226,525

 

None

 

None

 

311,775

 

1,226,525

 

1,538,300

 

214,642

 

 

 

8/22/2013

 

300

Palm Bay

 

FL

 

 

 

290,940

 

1,144,560

 

None

 

None

 

290,940

 

1,144,560

 

1,435,500

 

200,298

 

 

 

8/22/2013

 

300

Panama City

 

FL

 

 

 

468,060

 

869,253

 

None

 

None

 

468,060

 

869,253

 

1,337,313

 

175,299

 

 

 

12/14/2012

 

300

Panama City

 

FL

 

 

 

462,383

 

1,144,753

 

None

 

None

 

462,383

 

1,144,753

 

1,607,136

 

181,253

 

 

 

1/24/2014

 

300

Panama City

 

FL

 

 

 

486,671

 

1,204,883

 

None

 

None

 

486,671

 

1,204,883

 

1,691,554

 

190,773

 

 

 

1/24/2014

 

300

Pensacola

 

FL

 

 

 

324,665

 

1,166,541

 

None

 

None

 

324,665

 

1,166,541

 

1,491,206

 

112,822

 

 

 

10/9/2015

 

274

Perry

 

FL

 

 

 

244,021

 

959,979

 

None

 

None

 

244,021

 

959,979

 

1,204,000

 

167,996

 

 

 

8/22/2013

 

300

Perry

 

FL

 

 

 

213,916

 

1,117,652

 

None

 

None

 

213,916

 

1,117,652

 

1,331,568

 

176,962

 

 

 

1/24/2014

 

300

Pinellas Park

 

FL

 

 

 

324,807

 

1,277,793

 

None

 

None

 

324,807

 

1,277,793

 

1,602,600

 

223,614

 

 

 

8/22/2013

 

300

Port St Joe

 

FL

 

 

 

950,000

 

2,678,477

 

None

 

None

 

950,000

 

2,678,477

 

3,628,477

 

424,092

 

 

 

1/31/2014

 

300

Punta Gorda

 

FL

 

 

 

544,349

 

1,347,680

 

None

 

None

 

544,349

 

1,347,680

 

1,892,029

 

213,383

 

 

 

1/24/2014

 

300

Riverview

 

FL

 

 

 

318,240

 

1,251,960

 

None

 

None

 

318,240

 

1,251,960

 

1,570,200

 

219,093

 

 

 

8/22/2013

 

300

Riviera Beach

 

FL

 

 

 

395,095

 

1,554,305

 

None

 

None

 

395,095

 

1,554,305

 

1,949,400

 

272,003

 

 

 

8/22/2013

 

300

Rockledge

 

FL

 

 

 

246,149

 

968,351

 

None

 

None

 

246,149

 

968,351

 

1,214,500

 

169,461

 

 

 

8/22/2013

 

300

Saint Cloud

 

FL

 

 

 

403,749

 

1,588,351

 

None

 

None

 

403,749

 

1,588,351

 

1,992,100

 

277,961

 

 

 

8/22/2013

 

300

San Antonio

 

FL

 

 

 

258,167

 

1,015,633

 

None

 

None

 

258,167

 

1,015,633

 

1,273,800

 

177,736

 

 

 

8/22/2013

 

300

San Mateo

 

FL

 

 

 

455,279

 

1,479,656

 

None

 

None

 

455,279

 

1,479,656

 

1,934,935

 

293,465

 

 

 

1/22/2013

 

300

Santa Rosa Beach

 

FL

 

 

 

316,256

 

1,652,348

 

None

 

None

 

316,256

 

1,652,348

 

1,968,604

 

261,622

 

 

 

1/24/2014

 

300

Seminole

 

FL

 

 

 

541,317

 

1,005,304

 

None

 

None

 

541,317

 

1,005,304

 

1,546,621

 

202,736

 

 

 

12/14/2012

 

300

Sneads

 

FL

 

 

 

222,497

 

875,303

 

None

 

None

 

222,497

 

875,303

 

1,097,800

 

153,178

 

 

 

8/22/2013

 

300

Sorrento

 

FL

 

 

 

253,303

 

996,497

 

None

 

None

 

253,303

 

996,497

 

1,249,800

 

174,387

 

 

 

8/22/2013

 

300

South Daytona

 

FL

 

 

 

652,903

 

1,212,534

 

None

 

None

 

652,903

 

1,212,534

 

1,865,437

 

244,528

 

 

 

12/14/2012

 

300

Spring Hill

 

FL

 

 

 

315,224

 

1,286,099

 

None

 

None

 

315,224

 

1,286,099

 

1,601,323

 

237,928

 

 

 

5/23/2013

 

300

Spring Hill

 

FL

 

 

 

314,531

 

1,237,369

 

None

 

None

 

314,531

 

1,237,369

 

1,551,900

 

216,540

 

 

 

8/22/2013

 

300

Tampa

 

FL

 

 

 

559,416

 

1,038,915

 

None

 

None

 

559,416

 

1,038,915

 

1,598,331

 

230,293

 

 

 

6/1/2012

 

300

Tampa

 

FL

 

 

 

552,447

 

1,025,973

 

None

 

None

 

552,447

 

1,025,973

 

1,578,420

 

227,424

 

 

 

6/1/2012

 

300

Tampa

 

FL

 

 

 

549,314

 

1,020,154

 

None

 

None

 

549,314

 

1,020,154

 

1,569,468

 

205,731

 

 

 

12/14/2012

 

300

Tampa

 

FL

 

 

 

611,153

 

1,134,998

 

None

 

None

 

611,153

 

1,134,998

 

1,746,151

 

228,891

 

 

 

12/14/2012

 

300

Tampa

 

FL

 

 

 

634,199

 

1,177,799

 

None

 

None

 

634,199

 

1,177,799

 

1,811,998

 

237,523

 

 

 

12/14/2012

 

300

Tampa

 

FL

 

 

 

378,121

 

1,228,892

 

12,109

 

None

 

378,121

 

1,241,001

 

1,619,122

 

245,917

 

 

 

1/22/2013

 

300

Tavares

 

FL

 

 

 

534,612

 

1,323,575

 

None

 

None

 

534,612

 

1,323,575

 

1,858,187

 

209,566

 

 

 

1/24/2014

 

300

Temple Terrace

 

FL

 

 

 

666,400

 

1,237,599

 

None

 

None

 

666,400

 

1,237,599

 

1,903,999

 

274,335

 

 

 

6/1/2012

 

300

Waldo

 

FL

 

 

 

150,203

 

1,000,934

 

None

 

None

 

150,203

 

1,000,934

 

1,151,137

 

158,481

 

 

 

1/24/2014

 

300

Webster

 

FL

 

 

 

244,703

 

962,663

 

12,302

 

None

 

244,703

 

974,965

 

1,219,668

 

171,678

 

 

 

8/2/2013

 

300

Weirsdale

 

FL

 

 

 

440,625

 

1,090,885

 

None

 

None

 

440,625

 

1,090,885

 

1,531,510

 

172,724

 

 

 

1/24/2014

 

300

Wildwood

 

FL

 

 

 

553,758

 

1,370,976

 

None

 

None

 

553,758

 

1,370,976

 

1,924,734

 

217,071

 

 

 

1/24/2014

 

300

Winter Haven

 

FL

 

 

 

441,079

 

819,148

 

None

 

None

 

441,079

 

819,148

 

1,260,227

 

181,578

 

 

 

6/1/2012

 

300

Winter Haven

 

FL

 

 

 

437,109

 

811,775

 

None

 

None

 

437,109

 

811,775

 

1,248,884

 

163,708

 

 

 

12/14/2012

 

300

Winter Springs

 

FL

 

 

 

336,947

 

1,325,553

 

None

 

None

 

336,947

 

1,325,553

 

1,662,500

 

231,972

 

 

 

8/22/2013

 

300

Yulee

 

FL

 

 

 

331,698

 

1,304,902

 

None

 

None

 

331,698

 

1,304,902

 

1,636,600

 

228,358

 

 

 

8/22/2013

 

300

Zephyrhills

 

FL

 

 

 

304,398

 

1,197,502

 

None

 

None

 

304,398

 

1,197,502

 

1,501,900

 

209,563

 

 

 

8/22/2013

 

300

Zolfo Springs

 

FL

 

 

 

420,000

 

1,144,259

 

None

 

None

 

420,000

 

1,144,259

 

1,564,259

 

181,174

 

 

 

1/24/2014

 

300

Athens

 

GA

 

 

 

396,815

 

982,422

 

None

 

None

 

396,815

 

982,422

 

1,379,237

 

155,550

 

 

 

1/24/2014

 

300

Athens

 

GA

 

 

 

361,287

 

901,090

 

None

 

None

 

361,287

 

901,090

 

1,262,377

 

7,509

 

 

 

10/18/2017

 

300

Atlanta

 

GA

 

 

 

368,101

 

1,045,807

 

None

 

None

 

368,101

 

1,045,807

 

1,413,908

 

169,072

 

 

 

12/4/2013

 

300

Atlanta

 

GA

 

 

 

386,653

 

1,098,516

 

None

 

None

 

386,653

 

1,098,516

 

1,485,169

 

166,608

 

 

 

3/28/2014

 

300

Atlanta

 

GA

 

 

 

477,551

 

1,363,030

 

None

 

None

 

477,551

 

1,363,030

 

1,840,581

 

184,009

 

 

 

8/1/2014

 

300

Auburn

 

GA

 

 

 

234,333

 

921,867

 

None

 

None

 

234,333

 

921,867

 

1,156,200

 

161,327

 

 

 

8/22/2013

 

300

Augusta

 

GA

 

 

 

572,784

 

1,063,741

 

None

 

None

 

572,784

 

1,063,741

 

1,636,525

 

235,796

 

 

 

6/1/2012

 

300

Augusta

 

GA

 

 

 

396,046

 

735,513

 

None

 

None

 

396,046

 

735,513

 

1,131,559

 

148,329

 

 

 

12/14/2012

 

300

Augusta

 

GA

 

 

 

244,244

 

960,856

 

None

 

None

 

244,244

 

960,856

 

1,205,100

 

168,150

 

 

 

8/22/2013

 

300

Augusta

 

GA

 

 

 

240,656

 

946,744

 

None

 

None

 

240,656

 

946,744

 

1,187,400

 

165,680

 

 

 

8/22/2013

 

300

Bogart

 

GA

 

 

 

341,583

 

970,468

 

None

 

None

 

341,583

 

970,468

 

1,312,051

 

156,892

 

 

 

12/4/2013

 

300

Brooklet

 

GA

 

 

 

189,211

 

988,573

 

None

 

None

 

189,211

 

988,573

 

1,177,784

 

156,524

 

 

 

1/24/2014

 

300

Brunswick

 

GA

 

 

 

525,784

 

976,455

 

None

 

None

 

525,784

 

976,455

 

1,502,239

 

196,918

 

 

 

12/14/2012

 

300

Brunswick

 

GA

 

 

 

374,722

 

695,913

 

None

 

None

 

374,722

 

695,913

 

1,070,635

 

140,342

 

 

 

12/14/2012

 

300

Carrollton

 

GA

 

 

 

184,110

 

724,290

 

None

 

None

 

184,110

 

724,290

 

908,400

 

126,751

 

 

 

8/22/2013

 

300

Carrollton

 

GA

 

 

 

266,882

 

1,049,918

 

None

 

None

 

266,882

 

1,049,918

 

1,316,800

 

183,736

 

 

 

8/22/2013

 

300

Collins

 

GA

 

 

 

120,219

 

876,179

 

None

 

None

 

120,219

 

876,179

 

996,398

 

138,728

 

 

 

1/31/2014

 

300

Conyers

 

GA

 

 

 

737,753

 

1,370,114

 

None

 

None

 

737,753

 

1,370,114

 

2,107,867

 

303,708

 

 

 

6/1/2012

 

300

Dalton

 

GA

 

 

 

401,120

 

748,837

 

None

 

None

 

401,120

 

748,837

 

1,149,957

 

118,566

 

 

 

1/24/2014

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dawson

 

GA

 

 

 

413,732

 

768,359

 

None

 

None

 

413,732

 

768,359

 

1,182,091

 

154,952

 

 

 

12/14/2012

 

300

Dewy Rose

 

GA

 

 

 

190,003

 

747,472

 

None

 

None

 

190,003

 

747,472

 

937,475

 

130,808

 

 

 

8/20/2013

 

300

Dexter

 

GA

 

 

 

58,236

 

424,437

 

22,815

 

None

 

58,236

 

447,252

 

505,488

 

79,311

 

 

 

12/20/2013

 

300

Dublin

 

GA

 

 

 

208,680

 

1,008,938

 

None

 

None

 

208,680

 

1,008,938

 

1,217,618

 

159,749

 

 

 

1/31/2014

 

300

Elberton

 

GA

 

 

 

194,222

 

764,071

 

None

 

None

 

194,222

 

764,071

 

958,293

 

133,712

 

 

 

8/20/2013

 

300

Forest Park

 

GA

 

 

 

288,001

 

1,132,999

 

None

 

None

 

288,001

 

1,132,999

 

1,421,000

 

198,275

 

 

 

8/22/2013

 

300

Glennville

 

GA

 

 

 

245,706

 

966,610

 

None

 

None

 

245,706

 

966,610

 

1,212,316

 

172,379

 

 

 

7/3/2013

 

300

Gordon

 

GA

 

 

 

179,124

 

704,676

 

None

 

None

 

179,124

 

704,676

 

883,800

 

123,318

 

 

 

8/22/2013

 

300

Greenville

 

GA

 

 

 

170,000

 

880,648

 

None

 

None

 

170,000

 

880,648

 

1,050,648

 

139,436

 

 

 

1/24/2014

 

300

Hartwell

 

GA

 

 

 

222,699

 

876,101

 

None

 

None

 

222,699

 

876,101

 

1,098,800

 

153,318

 

 

 

8/22/2013

 

300

Hoschton

 

GA

 

 

 

312,038

 

1,227,562

 

None

 

None

 

312,038

 

1,227,562

 

1,539,600

 

214,823

 

 

 

8/22/2013

 

300

Irwinton

 

GA

 

 

 

331,310

 

1,076,757

 

None

 

None

 

331,310

 

1,076,757

 

1,408,067

 

213,557

 

 

 

1/22/2013

 

300

Jonesboro

 

GA

 

 

 

316,862

 

1,246,538

 

None

 

None

 

316,862

 

1,246,538

 

1,563,400

 

218,144

 

 

 

8/22/2013

 

300

LaGrange

 

GA

 

 

 

270,000

 

831,559

 

None

 

None

 

270,000

 

831,559

 

1,101,559

 

131,664

 

 

 

1/31/2014

 

300

Lilburn

 

GA

 

 

 

323,652

 

1,273,248

 

None

 

None

 

323,652

 

1,273,248

 

1,596,900

 

222,818

 

 

 

8/22/2013

 

300

Ludowici

 

GA

 

 

 

344,543

 

1,119,765

 

12,235

 

None

 

344,543

 

1,132,000

 

1,476,543

 

231,209

 

 

 

1/22/2013

 

300

Macon

 

GA

 

 

 

245,825

 

967,075

 

None

 

None

 

245,825

 

967,075

 

1,212,900

 

169,238

 

 

 

8/22/2013

 

300

Marietta

 

GA

 

 

 

289,116

 

1,137,384

 

None

 

None

 

289,116

 

1,137,384

 

1,426,500

 

199,042

 

 

 

8/22/2013

 

300

Midway

 

GA

 

 

 

243,028

 

956,072

 

None

 

None

 

243,028

 

956,072

 

1,199,100

 

167,313

 

 

 

8/22/2013

 

300

Milledgeville

 

GA

 

 

 

245,290

 

696,890

 

None

 

None

 

245,290

 

696,890

 

942,180

 

110,341

 

 

 

1/31/2014

 

300

Monticello

 

GA

 

 

 

146,301

 

1,066,274

 

None

 

None

 

146,301

 

1,066,274

 

1,212,575

 

161,718

 

 

 

3/28/2014

 

300

Nicholls

 

GA

 

 

 

198,723

 

781,777

 

None

 

None

 

198,723

 

781,777

 

980,500

 

136,811

 

 

 

8/22/2013

 

300

Pooler

 

GA

 

 

 

279,935

 

1,101,265

 

None

 

None

 

279,935

 

1,101,265

 

1,381,200

 

192,721

 

 

 

8/22/2013

 

300

Powder Springs

 

GA

 

 

 

290,373

 

1,142,327

 

None

 

None

 

290,373

 

1,142,327

 

1,432,700

 

199,907

 

 

 

8/22/2013

 

300

Resaca

 

GA

 

 

 

600,000

 

2,830,403

 

None

 

None

 

600,000

 

2,830,403

 

3,430,403

 

448,147

 

 

 

1/31/2014

 

300

Richmond Hill

 

GA

 

 

 

297,203

 

1,169,197

 

None

 

None

 

297,203

 

1,169,197

 

1,466,400

 

204,610

 

 

 

8/22/2013

 

300

Savannah

 

GA

 

 

 

450,992

 

1,774,208

 

None

 

None

 

450,992

 

1,774,208

 

2,225,200

 

310,486

 

 

 

8/22/2013

 

300

Screven

 

GA

 

 

 

198,288

 

780,067

 

None

 

None

 

198,288

 

780,067

 

978,355

 

136,512

 

 

 

8/8/2013

 

300

Stockbridge

 

GA

 

 

 

348,721

 

863,351

 

None

 

None

 

348,721

 

863,351

 

1,212,072

 

136,697

 

 

 

1/24/2014

 

300

Talbotton

 

GA

 

 

 

128,449

 

855,969

 

None

 

None

 

128,449

 

855,969

 

984,418

 

135,528

 

 

 

1/24/2014

 

300

Thomasville

 

GA

 

 

 

407,954

 

757,629

 

None

 

None

 

407,954

 

757,629

 

1,165,583

 

152,789

 

 

 

12/14/2012

 

300

Tifton

 

GA

 

 

 

202,011

 

824,197

 

None

 

None

 

202,011

 

824,197

 

1,026,208

 

152,476

 

 

 

5/23/2013

 

300

Uvalda

 

GA

 

 

 

187,576

 

737,924

 

None

 

None

 

187,576

 

737,924

 

925,500

 

129,137

 

 

 

8/22/2013

 

300

Vienna

 

GA

 

 

 

340,000

 

2,529,310

 

None

 

None

 

340,000

 

2,529,310

 

2,869,310

 

400,474

 

 

 

1/31/2014

 

300

Warrenton

 

GA

 

 

 

298,668

 

554,669

 

None

 

None

 

298,668

 

554,669

 

853,337

 

111,858

 

 

 

12/14/2012

 

300

Waycross

 

GA

 

 

 

417,843

 

775,994

 

None

 

None

 

417,843

 

775,994

 

1,193,837

 

156,492

 

 

 

12/14/2012

 

300

Waynesville

 

GA

 

 

 

132,112

 

880,378

 

None

 

None

 

132,112

 

880,378

 

1,012,490

 

139,393

 

 

 

1/24/2014

 

300

Whigham

 

GA

 

 

 

123,430

 

822,527

 

None

 

None

 

123,430

 

822,527

 

945,957

 

130,233

 

 

 

1/24/2014

 

300

Wrightsville

 

GA

 

 

 

274,254

 

509,328

 

None

 

None

 

274,254

 

509,328

 

783,582

 

102,715

 

 

 

12/14/2012

 

300

Wrightsville

 

GA

 

 

 

166,239

 

868,552

 

None

 

None

 

166,239

 

868,552

 

1,034,791

 

137,521

 

 

 

1/24/2014

 

300

Des Moines

 

IA

 

 

 

455,336

 

845,625

 

None

 

None

 

455,336

 

845,625

 

1,300,961

 

187,447

 

 

 

6/1/2012

 

300

Des Moines

 

IA

 

 

 

214,167

 

842,533

 

None

 

None

 

214,167

 

842,533

 

1,056,700

 

147,443

 

 

 

8/22/2013

 

300

Mason City

 

IA

 

 

 

242,135

 

449,678

 

None

 

None

 

242,135

 

449,678

 

691,813

 

99,679

 

 

 

6/1/2012

 

300

Montrose

 

IA

 

 

 

307,533

 

999,483

 

None

 

None

 

307,533

 

999,483

 

1,307,016

 

198,231

 

 

 

1/22/2013

 

300

Waterloo

 

IA

 

 

 

366,422

 

1,190,872

 

None

 

None

 

366,422

 

1,190,872

 

1,557,294

 

236,190

 

 

 

1/22/2013

 

300

Calumet City

 

IL

 

 

 

561,828

 

1,043,394

 

None

 

None

 

561,828

 

1,043,394

 

1,605,222

 

231,286

 

 

 

6/1/2012

 

300

Catlin

 

IL

 

 

 

373,096

 

1,212,561

 

None

 

None

 

373,096

 

1,212,561

 

1,585,657

 

240,491

 

 

 

1/22/2013

 

300

Cerro Gordo

 

IL

 

 

 

312,718

 

1,016,334

 

None

 

None

 

312,718

 

1,016,334

 

1,329,052

 

201,573

 

 

 

1/22/2013

 

300

Columbia

 

IL

 

 

 

383,895

 

1,247,660

 

None

 

None

 

383,895

 

1,247,660

 

1,631,555

 

247,453

 

 

 

1/22/2013

 

300

Dwight

 

IL

 

 

 

355,224

 

659,701

 

None

 

None

 

355,224

 

659,701

 

1,014,925

 

133,040

 

 

 

12/14/2012

 

300

East Saint Louis

 

IL

 

 

 

564,367

 

1,048,111

 

None

 

None

 

564,367

 

1,048,111

 

1,612,478

 

211,369

 

 

 

12/14/2012

 

300

Farina

 

IL

 

 

 

161,831

 

1,078,428

 

None

 

None

 

161,831

 

1,078,428

 

1,240,259

 

170,751

 

 

 

1/24/2014

 

300

Galesburg

 

IL

 

 

 

325,959

 

605,353

 

None

 

None

 

325,959

 

605,353

 

931,312

 

134,187

 

 

 

6/1/2012

 

300

Gillespie

 

IL

 

 

 

346,508

 

1,126,153

 

None

 

None

 

346,508

 

1,126,153

 

1,472,661

 

223,354

 

 

 

1/22/2013

 

300

Goreville

 

IL

 

 

 

175,538

 

690,566

 

None

 

None

 

175,538

 

690,566

 

866,104

 

118,547

 

 

 

9/13/2013

 

300

Harvey

 

IL

 

 

 

356,530

 

662,127

 

None

 

None

 

356,530

 

662,127

 

1,018,657

 

133,529

 

 

 

12/14/2012

 

300

Joliet

 

IL

 

 

 

396,961

 

737,212

 

None

 

None

 

396,961

 

737,212

 

1,134,173

 

148,671

 

 

 

12/14/2012

 

300

La Salle

 

IL

 

 

 

457,726

 

1,487,609

 

None

 

None

 

457,726

 

1,487,609

 

1,945,335

 

295,043

 

 

 

1/22/2013

 

300

Marseilles

 

IL

 

 

 

364,551

 

1,184,791

 

None

 

None

 

364,551

 

1,184,791

 

1,549,342

 

234,984

 

 

 

1/22/2013

 

300

Metropolis

 

IL

 

 

 

522,911

 

971,120

 

None

 

None

 

522,911

 

971,120

 

1,494,031

 

195,842

 

 

 

12/14/2012

 

300

Mount Zion

 

IL

 

 

 

344,938

 

1,121,050

 

1,723

 

None

 

344,938

 

1,122,773

 

1,467,711

 

222,970

 

 

 

1/22/2013

 

300

Peoria

 

IL

 

 

 

378,198

 

702,367

 

None

 

None

 

378,198

 

702,367

 

1,080,565

 

155,691

 

 

 

6/1/2012

 

300

Quincy

 

IL

 

 

 

351,325

 

869,798

 

None

 

None

 

351,325

 

869,798

 

1,221,123

 

137,718

 

 

 

1/24/2014

 

300

Virden

 

IL

 

 

 

546,679

 

1,015,261

 

None

 

None

 

546,679

 

1,015,261

 

1,561,940

 

204,744

 

 

 

12/14/2012

 

300

Anderson

 

IN

 

 

 

634,963

 

1,179,216

 

None

 

None

 

634,963

 

1,179,216

 

1,814,179

 

237,809

 

 

 

12/14/2012

 

300

Anderson

 

IN

 

 

 

335,312

 

830,155

 

None

 

None

 

335,312

 

830,155

 

1,165,467

 

131,441

 

 

 

1/24/2014

 

300

Indianapolis

 

IN

 

 

 

454,789

 

844,607

 

None

 

None

 

454,789

 

844,607

 

1,299,396

 

187,221

 

 

 

6/1/2012

 

300

Muncie

 

IN

 

 

 

347,731

 

860,902

 

None

 

None

 

347,731

 

860,902

 

1,208,633

 

136,309

 

 

 

1/24/2014

 

300

Muncie

 

IN

 

 

 

327,861

 

811,707

 

None

 

None

 

327,861

 

811,707

 

1,139,568

 

128,520

 

 

 

1/24/2014

 

300

New Albany

 

IN

 

 

 

437,343

 

812,209

 

None

 

None

 

437,343

 

812,209

 

1,249,552

 

163,795

 

 

 

12/14/2012

 

300

New Carlisle

 

IN

 

 

 

210,347

 

1,099,005

 

None

 

None

 

210,347

 

1,099,005

 

1,309,352

 

174,009

 

 

 

1/24/2014

 

300

Oxford

 

IN

 

 

 

60,000

 

940,000

 

None

 

None

 

60,000

 

940,000

 

1,000,000

 

148,833

 

 

 

1/24/2014

 

300

Parker City

 

IN

 

 

 

266,530

 

494,983

 

None

 

None

 

266,530

 

494,983

 

761,513

 

109,721

 

 

 

6/1/2012

 

300

Rockport

 

IN

 

 

 

203,782

 

378,451

 

None

 

None

 

203,782

 

378,451

 

582,233

 

76,321

 

 

 

12/14/2012

 

300

South Bend

 

IN

 

 

 

507,845

 

943,140

 

None

 

None

 

507,845

 

943,140

 

1,450,985

 

190,200

 

 

 

12/14/2012

 

300

Arma

 

KS

 

 

 

170,875

 

793,860

 

None

 

None

 

170,875

 

793,860

 

964,735

 

170,680

 

 

 

8/30/2012

 

300

Basehor

 

KS

 

 

 

171,627

 

872,548

 

None

 

None

 

171,627

 

872,548

 

1,044,175

 

187,598

 

 

 

8/30/2012

 

300

Burlington

 

KS

 

 

 

173,930

 

806,439

 

None

 

None

 

173,930

 

806,439

 

980,369

 

173,384

 

 

 

8/30/2012

 

300

Cheney

 

KS

 

 

 

161,300

 

770,354

 

None

 

None

 

161,300

 

770,354

 

931,654

 

165,626

 

 

 

8/30/2012

 

300

Cherryvale

 

KS

 

 

 

90,248

 

811,836

 

None

 

None

 

90,248

 

811,836

 

902,084

 

174,545

 

 

 

8/30/2012

 

300

Coffeyville

 

KS

 

 

 

519,254

 

964,328

 

None

 

None

 

519,254

 

964,328

 

1,483,582

 

194,473

 

 

 

12/14/2012

 

300

Edwardsville

 

KS

 

 

 

161,785

 

906,004

 

None

 

None

 

161,785

 

906,004

 

1,067,789

 

194,791

 

 

 

8/30/2012

 

300

Elkhart

 

KS

 

 

 

119,882

 

848,233

 

None

 

None

 

119,882

 

848,233

 

968,115

 

182,370

 

 

 

8/30/2012

 

300

Elwood

 

KS

 

 

 

273,826

 

677,929

 

None

 

None

 

273,826

 

677,929

 

951,755

 

107,339

 

 

 

1/24/2014

 

300

Fort Scott

 

KS

 

 

 

486,062

 

752,183

 

None

 

None

 

486,062

 

752,183

 

1,238,245

 

156,705

 

 

 

10/31/2012

 

300

Fredonia

 

KS

 

 

 

412,134

 

637,779

 

None

 

None

 

412,134

 

637,779

 

1,049,913

 

132,871

 

 

 

10/31/2012

 

300

Galena

 

KS

 

 

 

419,578

 

649,300

 

None

 

None

 

419,578

 

649,300

 

1,068,878

 

135,271

 

 

 

10/31/2012

 

300

Girard

 

KS

 

 

 

129,389

 

862,237

 

None

 

None

 

129,389

 

862,237

 

991,626

 

136,521

 

 

 

1/24/2014

 

300

Great Bend

 

KS

 

 

 

190,000

 

886,627

 

None

 

None

 

190,000

 

886,627

 

1,076,627

 

72,408

 

 

 

12/15/2015

 

300

Herington

 

KS

 

 

 

200,000

 

1,101,329

 

None

 

None

 

200,000

 

1,101,329

 

1,301,329

 

89,942

 

 

 

12/15/2015

 

300

Horton

 

KS

 

 

 

101,571

 

844,142

 

None

 

None

 

101,571

 

844,142

 

945,713

 

181,491

 

 

 

8/30/2012

 

300

Hoxie

 

KS

 

 

 

393,962

 

609,658

 

None

 

None

 

393,962

 

609,658

 

1,003,620

 

127,012

 

 

 

10/31/2012

 

300

Independence

 

KS

 

 

 

370,000

 

671,122

 

None

 

None

 

370,000

 

671,122

 

1,041,122

 

139,817

 

 

 

10/31/2012

 

300

Kansas City

 

KS

 

 

 

577,037

 

1,071,640

 

None

 

None

 

577,037

 

1,071,640

 

1,648,677

 

237,547

 

 

 

6/1/2012

 

300

Kansas City

 

KS

 

 

 

140,147

 

922,934

 

None

 

None

 

140,147

 

922,934

 

1,063,081

 

198,431

 

 

 

8/30/2012

 

300

Kansas City

 

KS

 

 

 

147,689

 

581,011

 

None

 

None

 

147,689

 

581,011

 

728,700

 

101,677

 

 

 

8/22/2013

 

300

Lawrence

 

KS

 

 

 

236,948

 

965,247

 

None

 

None

 

236,948

 

965,247

 

1,202,195

 

207,528

 

 

 

8/30/2012

 

300

Leavenworth

 

KS

 

 

 

430,140

 

665,644

 

None

 

None

 

430,140

 

665,644

 

1,095,784

 

138,676

 

 

 

10/31/2012

 

300

Liberal

 

KS

 

 

 

394,833

 

611,006

 

None

 

None

 

394,833

 

611,006

 

1,005,839

 

127,293

 

 

 

10/31/2012

 

300

Lyndon

 

KS

 

 

 

100,642

 

822,510

 

None

 

None

 

100,642

 

822,510

 

923,152

 

176,840

 

 

 

8/30/2012

 

300

Neodesha

 

KS

 

 

 

124,388

 

867,203

 

None

 

None

 

124,388

 

867,203

 

991,591

 

186,449

 

 

 

8/30/2012

 

300

Newton

 

KS

 

 

 

110,986

 

873,540

 

None

 

None

 

110,986

 

873,540

 

984,526

 

187,811

 

 

 

8/30/2012

 

300

Norton

 

KS

 

 

 

142,749

 

951,265

 

None

 

None

 

142,749

 

951,265

 

1,094,014

 

150,617

 

 

 

1/24/2014

 

300

Oskaloosa

 

KS

 

 

 

152,298

 

1,014,896

 

None

 

None

 

152,298

 

1,014,896

 

1,167,194

 

160,692

 

 

 

1/24/2014

 

300

Phillipsburg

 

KS

 

 

 

146,172

 

974,073

 

None

 

None

 

146,172

 

974,073

 

1,120,245

 

154,228

 

 

 

1/24/2014

 

300

Salina

 

KS

 

 

 

194,508

 

889,894

 

None

 

None

 

194,508

 

889,894

 

1,084,402

 

191,327

 

 

 

8/30/2012

 

300

Topeka

 

KS

 

 

 

395,822

 

612,536

 

None

 

None

 

395,822

 

612,536

 

1,008,358

 

127,612

 

 

 

10/31/2012

 

300

Wakeeney

 

KS

 

 

 

124,960

 

832,723

 

None

 

None

 

124,960

 

832,723

 

957,683

 

131,848

 

 

 

1/24/2014

 

300

Washington

 

KS

 

 

 

81,586

 

828,885

 

None

 

None

 

81,586

 

828,885

 

910,471

 

178,210

 

 

 

8/30/2012

 

300

Wichita

 

KS

 

 

 

533,216

 

825,154

 

None

 

None

 

533,216

 

825,154

 

1,358,370

 

171,907

 

 

 

10/31/2012

 

300

Wichita

 

KS

 

 

 

530,000

 

901,373

 

None

 

None

 

530,000

 

901,373

 

1,431,373

 

187,786

 

 

 

10/31/2012

 

300

Wichita

 

KS

 

 

 

625,585

 

968,095

 

None

 

None

 

625,585

 

968,095

 

1,593,680

 

201,687

 

 

 

10/31/2012

 

300

Wichita

 

KS

 

 

 

541,521

 

838,007

 

None

 

None

 

541,521

 

838,007

 

1,379,528

 

174,585

 

 

 

10/31/2012

 

300

Wichita

 

KS

 

 

 

498,745

 

771,810

 

None

 

None

 

498,745

 

771,810

 

1,270,555

 

160,794

 

 

 

10/31/2012

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Benton

 

KY

 

 

 

132,553

 

883,318

 

None

 

None

 

132,553

 

883,318

 

1,015,871

 

139,859

 

 

 

1/24/2014

 

300

Bronston

 

KY

 

 

 

297,256

 

966,082

 

None

 

None

 

297,256

 

966,082

 

1,263,338

 

191,606

 

 

 

1/22/2013

 

300

Corydon

 

KY

 

 

 

161,985

 

766,073

 

None

 

None

 

161,985

 

766,073

 

928,058

 

121,295

 

 

 

1/24/2014

 

300

Dayton

 

KY

 

 

 

141,508

 

508,446

 

None

 

None

 

141,508

 

508,446

 

649,954

 

49,174

 

 

 

10/9/2015

 

274

Dorton

 

KY

 

 

 

283,556

 

921,558

 

None

 

None

 

283,556

 

921,558

 

1,205,114

 

182,776

 

 

 

1/22/2013

 

300

Fordsville

 

KY

 

 

 

130,000

 

785,971

 

None

 

None

 

130,000

 

785,971

 

915,971

 

124,445

 

 

 

1/24/2014

 

300

Ledbetter

 

KY

 

 

 

100,000

 

771,540

 

None

 

None

 

100,000

 

771,540

 

871,540

 

122,160

 

 

 

1/24/2014

 

300

Louisville

 

KY

 

 

 

499,759

 

928,124

 

None

 

None

 

499,759

 

928,124

 

1,427,883

 

187,172

 

 

 

12/14/2012

 

300

Louisville

 

KY

 

 

 

265,221

 

1,043,379

 

None

 

None

 

265,221

 

1,043,379

 

1,308,600

 

182,591

 

 

 

8/22/2013

 

300

Louisville

 

KY

 

 

 

251,195

 

988,205

 

None

 

None

 

251,195

 

988,205

 

1,239,400

 

172,936

 

 

 

8/22/2013

 

300

Louisville

 

KY

 

 

 

456,605

 

1,297,257

 

None

 

None

 

456,605

 

1,297,257

 

1,753,862

 

218,372

 

 

 

10/11/2013

 

300

Louisville

 

KY

 

 

 

409,904

 

1,164,574

 

None

 

None

 

409,904

 

1,164,574

 

1,574,478

 

168,863

 

 

 

5/28/2014

 

300

Louisville

 

KY

 

 

 

454,587

 

1,133,489

 

None

 

None

 

454,587

 

1,133,489

 

1,588,076

 

1,889

 

 

 

12/28/2017

 

300

Mount Vernon

 

KY

 

 

 

470,619

 

874,008

 

None

 

None

 

470,619

 

874,008

 

1,344,627

 

176,258

 

 

 

12/14/2012

 

300

Paducah

 

KY

 

 

 

200,750

 

789,750

 

None

 

None

 

200,750

 

789,750

 

990,500

 

138,206

 

 

 

8/22/2013

 

300

Prestonsburg

 

KY

 

 

 

223,906

 

1,082,554

 

None

 

None

 

223,906

 

1,082,554

 

1,306,460

 

182,230

 

 

 

10/11/2013

 

300

Providence

 

KY

 

 

 

199,919

 

786,481

 

None

 

None

 

199,919

 

786,481

 

986,400

 

137,634

 

 

 

8/22/2013

 

300

Radcliff

 

KY

 

 

 

280,806

 

1,104,694

 

None

 

None

 

280,806

 

1,104,694

 

1,385,500

 

193,321

 

 

 

8/22/2013

 

300

Sacramento

 

KY

 

 

 

113,547

 

756,668

 

None

 

None

 

113,547

 

756,668

 

870,215

 

119,806

 

 

 

1/24/2014

 

300

Somerset

 

KY

 

 

 

456,467

 

847,725

 

None

 

None

 

456,467

 

847,725

 

1,304,192

 

187,912

 

 

 

6/1/2012

 

300

Somerset

 

KY

 

 

 

330,419

 

818,041

 

None

 

None

 

330,419

 

818,041

 

1,148,460

 

129,523

 

 

 

1/24/2014

 

300

Verona

 

KY

 

 

 

164,305

 

930,178

 

None

 

None

 

164,305

 

930,178

 

1,094,483

 

1,550

 

 

 

12/28/2017

 

300

Wingo

 

KY

 

 

 

106,789

 

711,629

 

None

 

None

 

106,789

 

711,629

 

818,418

 

112,675

 

 

 

1/24/2014

 

300

Abbeville

 

LA

 

 

 

386,990

 

1,257,716

 

None

 

None

 

386,990

 

1,257,716

 

1,644,706

 

249,447

 

 

 

1/22/2013

 

300

Bastrop

 

LA

 

 

 

179,126

 

935,881

 

None

 

None

 

179,126

 

935,881

 

1,115,007

 

148,181

 

 

 

1/24/2014

 

300

Baton Rouge

 

LA

 

 

 

563,114

 

1,045,783

 

None

 

None

 

563,114

 

1,045,783

 

1,608,897

 

231,815

 

 

 

6/1/2012

 

300

Baton Rouge

 

LA

 

 

 

433,213

 

804,539

 

None

 

None

 

433,213

 

804,539

 

1,237,752

 

162,249

 

 

 

12/14/2012

 

300

Baton Rouge

 

LA

 

 

 

279,327

 

1,098,873

 

None

 

None

 

279,327

 

1,098,873

 

1,378,200

 

192,303

 

 

 

8/22/2013

 

300

Baton Rouge

 

LA

 

 

 

188,485

 

535,504

 

20,913

 

None

 

188,485

 

556,417

 

744,902

 

93,802

 

 

 

12/20/2013

 

300

Baton Rouge

 

LA

 

 

 

342,664

 

848,357

 

None

 

None

 

342,664

 

848,357

 

1,191,021

 

134,323

 

 

 

1/24/2014

 

300

Baton Rouge

 

LA

 

 

 

422,535

 

1,046,098

 

None

 

None

 

422,535

 

1,046,098

 

1,468,633

 

165,632

 

 

 

1/24/2014

 

300

Blanchard

 

LA

 

 

 

177,898

 

860,109

 

123,590

 

None

 

177,898

 

983,699

 

1,161,597

 

153,600

 

 

 

12/20/2013

 

300

Colfax

 

LA

 

 

 

148,313

 

583,465

 

None

 

None

 

148,313

 

583,465

 

731,778

 

102,106

 

 

 

8/21/2013

 

300

Deridder

 

LA

 

 

 

250,446

 

985,254

 

None

 

None

 

250,446

 

985,254

 

1,235,700

 

172,420

 

 

 

8/22/2013

 

300

Dixie Inn

 

LA

 

 

 

318,870

 

592,187

 

None

 

None

 

318,870

 

592,187

 

911,057

 

119,424

 

 

 

12/14/2012

 

300

Duson

 

LA

 

 

 

355,640

 

1,155,831

 

None

 

None

 

355,640

 

1,155,831

 

1,511,471

 

229,240

 

 

 

1/22/2013

 

300

Florien

 

LA

 

 

 

323,203

 

1,050,409

 

None

 

None

 

323,203

 

1,050,409

 

1,373,612

 

208,331

 

 

 

1/22/2013

 

300

Franklinton

 

LA

 

 

 

150,109

 

1,000,309

 

None

 

None

 

150,109

 

1,000,309

 

1,150,418

 

158,382

 

 

 

1/24/2014

 

300

Geismar

 

LA

 

 

 

489,660

 

909,368

 

None

 

None

 

489,660

 

909,368

 

1,399,028

 

183,389

 

 

 

12/14/2012

 

300

Gretna

 

LA

 

 

 

880,000

 

839,022

 

None

 

None

 

880,000

 

839,022

 

1,719,022

 

132,845

 

 

 

1/24/2014

 

300

Hammond

 

LA

 

 

 

417,284

 

774,955

 

None

 

None

 

417,284

 

774,955

 

1,192,239

 

171,782

 

 

 

6/1/2012

 

300

Lafayette

 

LA

 

 

 

402,767

 

1,308,994

 

None

 

None

 

402,767

 

1,308,994

 

1,711,761

 

259,617

 

 

 

1/22/2013

 

300

Lafayette

 

LA

 

 

 

262,452

 

745,651

 

31,902

 

None

 

262,452

 

777,553

 

1,040,005

 

131,944

 

 

 

12/20/2013

 

300

Lafitte

 

LA

 

 

 

259,861

 

1,228,959

 

None

 

None

 

259,861

 

1,228,959

 

1,488,820

 

194,585

 

 

 

1/24/2014

 

300

Logansport

 

LA

 

 

 

494,202

 

917,805

 

None

 

None

 

494,202

 

917,805

 

1,412,007

 

185,091

 

 

 

12/14/2012

 

300

Many

 

LA

 

 

 

199,395

 

1,041,784

 

None

 

None

 

199,395

 

1,041,784

 

1,241,179

 

164,949

 

 

 

1/24/2014

 

300

Melville

 

LA

 

 

 

367,000

 

1,192,748

 

None

 

None

 

367,000

 

1,192,748

 

1,559,748

 

236,562

 

 

 

1/22/2013

 

300

Minden

 

LA

 

 

 

339,679

 

630,832

 

None

 

None

 

339,679

 

630,832

 

970,511

 

139,834

 

 

 

6/1/2012

 

300

Monroe

 

LA

 

 

 

667,232

 

1,073,926

 

None

 

None

 

667,232

 

1,073,926

 

1,741,158

 

109,880

 

 

 

10/9/2015

 

259

Moreauville

 

LA

 

 

 

186,423

 

974,008

 

None

 

None

 

186,423

 

974,008

 

1,160,431

 

154,218

 

 

 

1/24/2014

 

300

Morse

 

LA

 

 

 

352,771

 

1,146,506

 

None

 

None

 

352,771

 

1,146,506

 

1,499,277

 

227,390

 

 

 

1/22/2013

 

300

Natchitoches

 

LA

 

 

 

250,162

 

984,138

 

None

 

None

 

250,162

 

984,138

 

1,234,300

 

172,224

 

 

 

8/22/2013

 

300

Opelousas

 

LA

 

 

 

350,277

 

1,138,401

 

None

 

None

 

350,277

 

1,138,401

 

1,488,678

 

225,783

 

 

 

1/22/2013

 

300

Opelousas

 

LA

 

 

 

365,368

 

1,187,446

 

None

 

None

 

365,368

 

1,187,446

 

1,552,814

 

235,510

 

 

 

1/22/2013

 

300

Port Vincent

 

LA

 

 

 

398,039

 

1,293,627

 

None

 

None

 

398,039

 

1,293,627

 

1,691,666

 

256,569

 

 

 

1/22/2013

 

300

Robeline

 

LA

 

 

 

329,964

 

1,072,382

 

None

 

None

 

329,964

 

1,072,382

 

1,402,346

 

212,689

 

 

 

1/22/2013

 

300

Saint Bernard

 

LA

 

 

 

447,884

 

831,784

 

None

 

None

 

447,884

 

831,784

 

1,279,668

 

184,379

 

 

 

6/1/2012

 

300

Shreveport

 

LA

 

 

 

605,336

 

1,124,196

 

None

 

None

 

605,336

 

1,124,196

 

1,729,532

 

249,197

 

 

 

6/1/2012

 

300

Shreveport

 

LA

 

 

 

719,595

 

1,336,390

 

None

 

None

 

719,595

 

1,336,390

 

2,055,985

 

269,505

 

 

 

12/14/2012

 

300

Sibley

 

LA

 

 

 

180,316

 

942,101

 

None

 

None

 

180,316

 

942,101

 

1,122,417

 

149,166

 

 

 

1/24/2014

 

300

Tallulah

 

LA

 

 

 

287,313

 

473,108

 

None

 

None

 

287,313

 

473,108

 

760,421

 

47,133

 

 

 

10/9/2015

 

266

Violet

 

LA

 

 

 

342,764

 

848,603

 

None

 

None

 

342,764

 

848,603

 

1,191,367

 

134,362

 

 

 

1/24/2014

 

300

West Monroe

 

LA

 

 

 

362,591

 

1,178,420

 

None

 

None

 

362,591

 

1,178,420

 

1,541,011

 

233,720

 

 

 

1/22/2013

 

300

West Monroe

 

LA

 

 

 

262,241

 

1,031,659

 

None

 

None

 

262,241

 

1,031,659

 

1,293,900

 

180,540

 

 

 

8/22/2013

 

300

West Monroe

 

LA

 

 

 

160,000

 

755,108

 

None

 

None

 

160,000

 

755,108

 

915,108

 

119,559

 

 

 

1/24/2014

 

300

Pittsfield

 

MA

 

 

 

350,000

 

1,195,114

 

None

 

None

 

350,000

 

1,195,114

 

1,545,114

 

97,601

 

 

 

12/15/2015

 

300

Alanson

 

MI

 

 

 

314,390

 

1,021,767

 

5,337

 

None

 

314,390

 

1,027,104

 

1,341,494

 

203,218

 

 

 

1/22/2013

 

300

Bangor

 

MI

 

 

 

513,772

 

954,149

 

None

 

None

 

513,772

 

954,149

 

1,467,921

 

211,503

 

 

 

6/1/2012

 

300

Battle Creek

 

MI

 

 

 

438,869

 

815,042

 

None

 

None

 

438,869

 

815,042

 

1,253,911

 

180,668

 

 

 

6/1/2012

 

300

Beaverton

 

MI

 

 

 

242,135

 

449,678

 

None

 

None

 

242,135

 

449,678

 

691,813

 

99,679

 

 

 

6/1/2012

 

300

Brockway

 

MI

 

 

 

248,856

 

462,160

 

None

 

None

 

248,856

 

462,160

 

711,016

 

102,446

 

 

 

6/1/2012

 

300

Buckley

 

MI

 

 

 

296,289

 

962,940

 

None

 

None

 

296,289

 

962,940

 

1,259,229

 

190,983

 

 

 

1/22/2013

 

300

Clinton

 

MI

 

 

 

326,088

 

1,059,786

 

None

 

None

 

326,088

 

1,059,786

 

1,385,874

 

210,191

 

 

 

1/22/2013

 

300

Copemish

 

MI

 

 

 

292,975

 

952,167

 

None

 

None

 

292,975

 

952,167

 

1,245,142

 

188,847

 

 

 

1/22/2013

 

300

Croswell

 

MI

 

 

 

387,461

 

719,571

 

None

 

None

 

387,461

 

719,571

 

1,107,032

 

159,505

 

 

 

6/1/2012

 

300

Dearborn

 

MI

 

 

 

522,650

 

970,637

 

None

 

None

 

522,650

 

970,637

 

1,493,287

 

215,158

 

 

 

6/1/2012

 

300

Detroit

 

MI

 

 

 

264,876

 

860,847

 

5,054

 

None

 

264,876

 

865,901

 

1,130,777

 

174,341

 

 

 

1/22/2013

 

300

Farmington

 

MI

 

 

 

325,172

 

1,279,228

 

None

 

None

 

325,172

 

1,279,228

 

1,604,400

 

223,865

 

 

 

8/22/2013

 

300

Flat Rock

 

MI

 

 

 

264,268

 

1,039,632

 

None

 

None

 

264,268

 

1,039,632

 

1,303,900

 

181,936

 

 

 

8/22/2013

 

300

Flint

 

MI

 

 

 

510,751

 

948,537

 

None

 

None

 

510,751

 

948,537

 

1,459,288

 

210,259

 

 

 

6/1/2012

 

300

Gladwin

 

MI

 

 

 

265,925

 

864,258

 

None

 

None

 

265,925

 

864,258

 

1,130,183

 

171,411

 

 

 

1/22/2013

 

300

Grand Rapids

 

MI

 

 

 

526,567

 

977,911

 

None

 

None

 

526,567

 

977,911

 

1,504,478

 

197,212

 

 

 

12/14/2012

 

300

Grand Rapids

 

MI

 

 

 

225,609

 

363,123

 

None

 

None

 

225,609

 

363,123

 

588,732

 

37,154

 

 

 

10/9/2015

 

259

Jackson

 

MI

 

 

 

473,329

 

879,039

 

None

 

None

 

473,329

 

879,039

 

1,352,368

 

194,854

 

 

 

6/1/2012

 

300

Jackson

 

MI

 

 

 

592,388

 

1,100,149

 

None

 

None

 

592,388

 

1,100,149

 

1,692,537

 

221,863

 

 

 

12/14/2012

 

300

Litchfield

 

MI

 

 

 

314,519

 

1,022,185

 

None

 

None

 

314,519

 

1,022,185

 

1,336,704

 

202,733

 

 

 

1/22/2013

 

300

Mancelona

 

MI

 

 

 

294,344

 

956,617

 

None

 

None

 

294,344

 

956,617

 

1,250,961

 

189,729

 

 

 

1/22/2013

 

300

Marion

 

MI

 

 

 

354,869

 

659,042

 

None

 

None

 

354,869

 

659,042

 

1,013,911

 

132,907

 

 

 

12/14/2012

 

300

Muskegon

 

MI

 

 

 

318,001

 

1,033,502

 

None

 

None

 

318,001

 

1,033,502

 

1,351,503

 

204,978

 

 

 

1/22/2013

 

300

New Baltimore

 

MI

 

 

 

237,040

 

932,516

 

375

 

None

 

237,040

 

932,891

 

1,169,931

 

169,412

 

 

 

6/25/2013

 

300

Onaway

 

MI

 

 

 

510,098

 

947,326

 

None

 

None

 

510,098

 

947,326

 

1,457,424

 

191,044

 

 

 

12/14/2012

 

300

Pinckney

 

MI

 

 

 

305,815

 

993,898

 

None

 

None

 

305,815

 

993,898

 

1,299,713

 

197,123

 

 

 

1/22/2013

 

300

Romulus

 

MI

 

 

 

578,474

 

1,074,310

 

None

 

None

 

578,474

 

1,074,310

 

1,652,784

 

238,139

 

 

 

6/1/2012

 

300

Sheridan

 

MI

 

 

 

307,737

 

1,000,144

 

None

 

None

 

307,737

 

1,000,144

 

1,307,881

 

198,362

 

 

 

1/22/2013

 

300

Spring Arbor

 

MI

 

 

 

325,553

 

1,058,048

 

None

 

None

 

325,553

 

1,058,048

 

1,383,601

 

209,846

 

 

 

1/22/2013

 

300

St John’s

 

MI

 

 

 

324,325

 

1,054,055

 

None

 

None

 

324,325

 

1,054,055

 

1,378,380

 

209,054

 

 

 

1/22/2013

 

300

Tekonsha

 

MI

 

 

 

269,258

 

875,089

 

None

 

None

 

269,258

 

875,089

 

1,144,347

 

173,559

 

 

 

1/22/2013

 

300

Wellston

 

MI

 

 

 

270,942

 

880,562

 

None

 

None

 

270,942

 

880,562

 

1,151,504

 

174,645

 

 

 

1/22/2013

 

300

Advance

 

MO

 

 

 

327,985

 

1,065,951

 

None

 

None

 

327,985

 

1,065,951

 

1,393,936

 

211,414

 

 

 

1/22/2013

 

300

Bonne Terre

 

MO

 

 

 

254,437

 

826,921

 

None

 

None

 

254,437

 

826,921

 

1,081,358

 

164,006

 

 

 

1/22/2013

 

300

Buckner

 

MO

 

 

 

188,702

 

985,916

 

None

 

None

 

188,702

 

985,916

 

1,174,618

 

156,103

 

 

 

1/24/2014

 

300

Cole Camp

 

MO

 

 

 

296,537

 

963,746

 

None

 

None

 

296,537

 

963,746

 

1,260,283

 

191,143

 

 

 

1/22/2013

 

300

Crocker

 

MO

 

 

 

139,188

 

927,532

 

None

 

None

 

139,188

 

927,532

 

1,066,720

 

146,859

 

 

 

1/24/2014

 

300

Garden City

 

MO

 

 

 

139,163

 

927,369

 

None

 

None

 

139,163

 

927,369

 

1,066,532

 

146,833

 

 

 

1/24/2014

 

300

Jackson

 

MO

 

 

 

396,040

 

1,287,131

 

None

 

None

 

396,040

 

1,287,131

 

1,683,171

 

255,281

 

 

 

1/22/2013

 

300

Jackson

 

MO

 

 

 

201,264

 

791,776

 

8,228

 

None

 

201,264

 

800,004

 

1,001,268

 

136,007

 

 

 

9/13/2013

 

300

Kansas City

 

MO

 

 

 

443,895

 

824,377

 

None

 

None

 

443,895

 

824,377

 

1,268,272

 

182,737

 

 

 

6/1/2012

 

300

Kansas City

 

MO

 

 

 

557,439

 

1,035,244

 

None

 

None

 

557,439

 

1,035,244

 

1,592,683

 

229,479

 

 

 

6/1/2012

 

300

Kansas City

 

MO

 

 

 

414,347

 

641,204

 

None

 

None

 

414,347

 

641,204

 

1,055,551

 

133,584

 

 

 

10/31/2012

 

300

Kansas City

 

MO

 

 

 

277,016

 

995,336

 

None

 

None

 

277,016

 

995,336

 

1,272,352

 

96,264

 

 

 

10/9/2015

 

274

Louisiana

 

MO

 

 

 

186,741

 

734,640

 

None

 

None

 

186,741

 

734,640

 

921,381

 

133,460

 

 

 

6/28/2013

 

300

Mansfield

 

MO

 

 

 

152,932

 

1,019,125

 

None

 

None

 

152,932

 

1,019,125

 

1,172,057

 

161,362

 

 

 

1/24/2014

 

300

Oronogo

 

MO

 

 

 

327,756

 

1,065,207

 

None

 

None

 

327,756

 

1,065,207

 

1,392,963

 

211,266

 

 

 

1/22/2013

 

300

Queen City

 

MO

 

 

 

309,915

 

1,007,222

 

None

 

None

 

309,915

 

1,007,222

 

1,317,137

 

199,766

 

 

 

1/22/2013

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Richland

 

MO

 

 

 

137,522

 

916,435

 

None

 

None

 

137,522

 

916,435

 

1,053,957

 

145,102

 

 

 

1/24/2014

 

300

Rolla

 

MO

 

 

 

340,000

 

899,367

 

None

 

None

 

340,000

 

899,367

 

1,239,367

 

142,400

 

 

 

1/24/2014

 

300

Russellville

 

MO

 

 

 

122,033

 

813,218

 

None

 

None

 

122,033

 

813,218

 

935,251

 

128,760

 

 

 

1/24/2014

 

300

Sikeston

 

MO

 

 

 

409,114

 

2,005,416

 

None

 

2,579

 

409,114

 

2,007,995

 

2,417,109

 

1,281,664

 

 

 

1/24/2002

 

300

St. Louis

 

MO

 

 

 

647,256

 

1,202,046

 

None

 

None

 

647,256

 

1,202,046

 

1,849,302

 

266,454

 

 

 

6/1/2012

 

300

Unionville

 

MO

 

 

 

324,616

 

1,055,004

 

None

 

None

 

324,616

 

1,055,004

 

1,379,620

 

209,242

 

 

 

1/22/2013

 

300

Amory

 

MS

 

 

 

191,439

 

1,000,215

 

None

 

None

 

191,439

 

1,000,215

 

1,191,654

 

158,367

 

 

 

1/24/2014

 

300

Belzoni

 

MS

 

 

 

222,063

 

873,597

 

None

 

None

 

222,063

 

873,597

 

1,095,660

 

155,791

 

 

 

7/24/2013

 

300

Brookhaven

 

MS

 

 

 

198,152

 

779,533

 

None

 

None

 

198,152

 

779,533

 

977,685

 

133,820

 

 

 

9/30/2013

 

300

Brooksville

 

MS

 

 

 

114,899

 

765,676

 

None

 

None

 

114,899

 

765,676

 

880,575

 

121,232

 

 

 

1/24/2014

 

300

Canton

 

MS

 

 

 

960,000

 

2,510,516

 

None

 

None

 

960,000

 

2,510,516

 

3,470,516

 

397,498

 

 

 

1/31/2014

 

300

Coldwater

 

MS

 

 

 

169,202

 

884,035

 

None

 

None

 

169,202

 

884,035

 

1,053,237

 

139,972

 

 

 

1/24/2014

 

300

Crenshaw

 

MS

 

 

 

129,543

 

863,263

 

None

 

None

 

129,543

 

863,263

 

992,806

 

136,683

 

 

 

1/24/2014

 

300

Durant

 

MS

 

 

 

259,403

 

1,020,492

 

None

 

None

 

259,403

 

1,020,492

 

1,279,895

 

185,389

 

 

 

6/26/2013

 

300

Fayette

 

MS

 

 

 

120,531

 

803,210

 

None

 

None

 

120,531

 

803,210

 

923,741

 

127,175

 

 

 

1/24/2014

 

300

Fulton

 

MS

 

 

 

192,188

 

1,004,128

 

None

 

None

 

192,188

 

1,004,128

 

1,196,316

 

158,987

 

 

 

1/24/2014

 

300

Hickory Flat

 

MS

 

 

 

132,720

 

884,431

 

None

 

None

 

132,720

 

884,431

 

1,017,151

 

140,035

 

 

 

1/24/2014

 

300

Horn Lake

 

MS

 

 

 

369,539

 

914,893

 

None

 

None

 

369,539

 

914,893

 

1,284,432

 

144,858

 

 

 

1/24/2014

 

300

Iuka

 

MS

 

 

 

161,047

 

841,427

 

None

 

None

 

161,047

 

841,427

 

1,002,474

 

133,226

 

 

 

1/24/2014

 

300

Jackson

 

MS

 

 

 

465,674

 

864,824

 

None

 

None

 

465,674

 

864,824

 

1,330,498

 

191,703

 

 

 

6/1/2012

 

300

Jackson

 

MS

 

 

 

668,518

 

1,241,534

 

None

 

None

 

668,518

 

1,241,534

 

1,910,052

 

275,207

 

 

 

6/1/2012

 

300

Jackson

 

MS

 

 

 

219,884

 

865,026

 

None

 

None

 

219,884

 

865,026

 

1,084,910

 

157,146

 

 

 

6/6/2013

 

300

Jackson

 

MS

 

 

 

234,313

 

921,789

 

None

 

None

 

234,313

 

921,789

 

1,156,102

 

167,458

 

 

 

6/26/2013

 

300

Jackson

 

MS

 

 

 

218,911

 

861,196

 

None

 

None

 

218,911

 

861,196

 

1,080,107

 

150,709

 

 

 

8/22/2013

 

300

Jackson

 

MS

 

 

 

220,000

 

807,338

 

None

 

None

 

220,000

 

807,338

 

1,027,338

 

127,829

 

 

 

1/24/2014

 

300

Jackson

 

MS

 

 

 

288,120

 

713,319

 

None

 

None

 

288,120

 

713,319

 

1,001,439

 

112,942

 

 

 

1/24/2014

 

300

Jackson

 

MS

 

 

 

273,913

 

678,145

 

None

 

None

 

273,913

 

678,145

 

952,058

 

107,373

 

 

 

1/24/2014

 

300

Kossuth

 

MS

 

 

 

280,000

 

725,755

 

None

 

None

 

280,000

 

725,755

 

1,005,755

 

114,911

 

 

 

1/24/2014

 

300

Lauderdale

 

MS

 

 

 

141,934

 

945,836

 

None

 

None

 

141,934

 

945,836

 

1,087,770

 

149,757

 

 

 

1/24/2014

 

300

Liberty

 

MS

 

 

 

432,170

 

802,601

 

None

 

None

 

432,170

 

802,601

 

1,234,771

 

177,910

 

 

 

6/1/2012

 

300

Lucedale

 

MS

 

 

 

185,603

 

730,164

 

None

 

None

 

185,603

 

730,164

 

915,767

 

132,647

 

 

 

6/26/2013

 

300

Moselle

 

MS

 

 

 

119,405

 

795,703

 

None

 

None

 

119,405

 

795,703

 

915,108

 

125,986

 

 

 

1/24/2014

 

300

Moss Point

 

MS

 

 

 

205,776

 

809,525

 

None

 

None

 

205,776

 

809,525

 

1,015,301

 

147,064

 

 

 

6/26/2013

 

300

Myrtle

 

MS

 

 

 

112,646

 

750,663

 

None

 

None

 

112,646

 

750,663

 

863,309

 

118,855

 

 

 

1/24/2014

 

300

Oakland

 

MS

 

 

 

143,737

 

957,846

 

None

 

None

 

143,737

 

957,846

 

1,101,583

 

151,659

 

 

 

1/24/2014

 

300

Okolona

 

MS

 

 

 

170,244

 

1,134,490

 

None

 

None

 

170,244

 

1,134,490

 

1,304,734

 

179,628

 

 

 

1/24/2014

 

300

Picayune

 

MS

 

 

 

203,708

 

801,388

 

None

 

None

 

203,708

 

801,388

 

1,005,096

 

145,585

 

 

 

6/26/2013

 

300

Pope

 

MS

 

 

 

170,478

 

890,701

 

None

 

None

 

170,478

 

890,701

 

1,061,179

 

141,028

 

 

 

1/24/2014

 

300

Shaw

 

MS

 

 

 

121,095

 

806,963

 

None

 

None

 

121,095

 

806,963

 

928,058

 

127,769

 

 

 

1/24/2014

 

300

Southaven

 

MS

 

 

 

284,495

 

1,119,205

 

None

 

None

 

284,495

 

1,119,205

 

1,403,700

 

195,861

 

 

 

8/22/2013

 

300

Starkville

 

MS

 

 

 

170,000

 

745,108

 

None

 

None

 

170,000

 

745,108

 

915,108

 

117,975

 

 

 

1/24/2014

 

300

Thaxton

 

MS

 

 

 

122,784

 

818,223

 

None

 

None

 

122,784

 

818,223

 

941,007

 

129,552

 

 

 

1/24/2014

 

300

Tunica

 

MS

 

 

 

166,859

 

656,426

 

24,912

 

None

 

166,859

 

681,338

 

848,197

 

118,026

 

 

 

9/13/2013

 

300

Tupelo

 

MS

 

 

 

350,960

 

868,896

 

None

 

None

 

350,960

 

868,896

 

1,219,856

 

137,575

 

 

 

1/24/2014

 

300

Vicksburg

 

MS

 

 

 

577,491

 

1,072,483

 

None

 

None

 

577,491

 

1,072,483

 

1,649,974

 

237,734

 

 

 

6/1/2012

 

300

Waynesboro

 

MS

 

 

 

126,164

 

840,743

 

None

 

None

 

126,164

 

840,743

 

966,907

 

133,118

 

 

 

1/24/2014

 

300

Benson

 

NC

 

 

 

880,000

 

1,245,899

 

None

 

None

 

880,000

 

1,245,899

 

2,125,899

 

197,267

 

 

 

1/24/2014

 

300

Bridgeton

 

NC

 

 

 

266,399

 

756,863

 

23,662

 

None

 

266,399

 

780,525

 

1,046,924

 

128,972

 

 

 

12/20/2013

 

300

Burgaw

 

NC

 

 

 

239,304

 

1,250,293

 

None

 

None

 

239,304

 

1,250,293

 

1,489,597

 

197,963

 

 

 

1/24/2014

 

300

Candler

 

NC

 

 

 

650,000

 

2,637,579

 

None

 

None

 

650,000

 

2,637,579

 

3,287,579

 

417,617

 

 

 

1/31/2014

 

300

Candor

 

NC

 

 

 

203,498

 

800,561

 

None

 

None

 

203,498

 

800,561

 

1,004,059

 

137,430

 

 

 

9/6/2013

 

300

Charlotte

 

NC

 

 

 

404,476

 

1,149,152

 

None

 

None

 

404,476

 

1,149,152

 

1,553,628

 

166,627

 

 

 

5/8/2014

 

300

Chocowinity

 

NC

 

 

 

225,493

 

920,001

 

None

 

None

 

225,493

 

920,001

 

1,145,494

 

173,267

 

 

 

4/4/2013

 

300

Dublin

 

NC

 

 

 

130,369

 

681,142

 

None

 

None

 

130,369

 

681,142

 

811,511

 

107,847

 

 

 

1/24/2014

 

300

Durham

 

NC

 

 

 

442,367

 

821,540

 

None

 

None

 

442,367

 

821,540

 

1,263,907

 

165,677

 

 

 

12/14/2012

 

300

Engelhard

 

NC

 

 

 

107,915

 

719,135

 

None

 

None

 

107,915

 

719,135

 

827,050

 

113,863

 

 

 

1/24/2014

 

300

Erwin

 

NC

 

 

 

132,370

 

639,988

 

6,335

 

None

 

132,370

 

646,323

 

778,693

 

104,538

 

 

 

12/20/2013

 

300

Fairmont

 

NC

 

 

 

163,886

 

856,258

 

None

 

None

 

163,886

 

856,258

 

1,020,144

 

135,574

 

 

 

1/24/2014

 

300

Gibonsville

 

NC

 

 

 

196,942

 

774,770

 

None

 

None

 

196,942

 

774,770

 

971,712

 

133,002

 

 

 

9/10/2013

 

300

Greensboro

 

NC

 

 

 

325,349

 

1,279,926

 

None

 

None

 

325,349

 

1,279,926

 

1,605,275

 

223,987

 

 

 

8/8/2013

 

300

Greensboro

 

NC

 

 

 

282,204

 

801,768

 

None

 

None

 

282,204

 

801,768

 

1,083,972

 

121,602

 

 

 

3/27/2014

 

300

Greenville

 

NC

 

 

 

516,944

 

1,279,833

 

None

 

None

 

516,944

 

1,279,833

 

1,796,777

 

202,640

 

 

 

1/24/2014

 

300

Henderson

 

NC

 

 

 

428,455

 

1,060,754

 

None

 

None

 

428,455

 

1,060,754

 

1,489,209

 

167,953

 

 

 

1/24/2014

 

300

Hertford

 

NC

 

 

 

213,160

 

1,030,599

 

None

 

None

 

213,160

 

1,030,599

 

1,243,759

 

163,178

 

 

 

1/31/2014

 

300

Hudson

 

NC

 

 

 

222,436

 

875,064

 

None

 

None

 

222,436

 

875,064

 

1,097,500

 

153,136

 

 

 

8/22/2013

 

300

Kannapolis

 

NC

 

 

 

351,788

 

870,946

 

None

 

None

 

351,788

 

870,946

 

1,222,734

 

137,900

 

 

 

1/24/2014

 

300

Kings Mountain

 

NC

 

 

 

492,867

 

915,324

 

None

 

None

 

492,867

 

915,324

 

1,408,191

 

184,590

 

 

 

12/14/2012

 

300

Kinston

 

NC

 

 

 

261,745

 

1,029,709

 

None

 

None

 

261,745

 

1,029,709

 

1,291,454

 

187,064

 

 

 

6/11/2013

 

300

Lexington

 

NC

 

 

 

242,683

 

954,717

 

None

 

None

 

242,683

 

954,717

 

1,197,400

 

167,075

 

 

 

8/22/2013

 

300

Lincolnton

 

NC

 

 

 

343,797

 

638,479

 

None

 

None

 

343,797

 

638,479

 

982,276

 

128,760

 

 

 

12/14/2012

 

300

Lumberton

 

NC

 

 

 

459,702

 

853,731

 

None

 

None

 

459,702

 

853,731

 

1,313,433

 

172,169

 

 

 

12/14/2012

 

300

Marion

 

NC

 

 

 

475,680

 

883,406

 

None

 

None

 

475,680

 

883,406

 

1,359,086

 

178,154

 

 

 

12/14/2012

 

300

Morganton

 

NC

 

 

 

197,304

 

776,196

 

None

 

None

 

197,304

 

776,196

 

973,500

 

135,834

 

 

 

8/22/2013

 

300

Mount Airy

 

NC

 

 

 

336,314

 

832,635

 

None

 

None

 

336,314

 

832,635

 

1,168,949

 

131,834

 

 

 

1/24/2014

 

300

North Wilkesboro

 

NC

 

 

 

147,567

 

770,994

 

None

 

None

 

147,567

 

770,994

 

918,561

 

122,074

 

 

 

1/24/2014

 

300

Rocky Mount

 

NC

 

 

 

218,842

 

860,925

 

None

 

None

 

218,842

 

860,925

 

1,079,767

 

147,792

 

 

 

9/19/2013

 

300

Snow Hill

 

NC

 

 

 

224,094

 

914,294

 

None

 

None

 

224,094

 

914,294

 

1,138,388

 

172,192

 

 

 

4/4/2013

 

300

Spring Hope

 

NC

 

 

 

226,533

 

1,183,568

 

None

 

None

 

226,533

 

1,183,568

 

1,410,101

 

187,398

 

 

 

1/24/2014

 

300

Stantonsburg

 

NC

 

 

 

173,832

 

1,158,398

 

None

 

None

 

173,832

 

1,158,398

 

1,332,230

 

183,413

 

 

 

1/24/2014

 

300

Statesville

 

NC

 

 

 

166,429

 

869,543

 

None

 

None

 

166,429

 

869,543

 

1,035,972

 

137,678

 

 

 

1/24/2014

 

300

Taylorsville

 

NC

 

 

 

336,401

 

624,744

 

None

 

None

 

336,401

 

624,744

 

961,145

 

125,990

 

 

 

12/14/2012

 

300

Taylorsville

 

NC

 

 

 

222,473

 

875,210

 

None

 

None

 

222,473

 

875,210

 

1,097,683

 

156,079

 

 

 

7/3/2013

 

300

Winterville

 

NC

 

 

 

250,429

 

465,082

 

None

 

None

 

250,429

 

465,082

 

715,511

 

103,093

 

 

 

6/1/2012

 

300

Holdrege

 

NE

 

 

 

216,987

 

1,049,100

 

None

 

None

 

216,987

 

1,049,100

 

1,266,087

 

173,102

 

 

 

11/15/2013

 

300

Lexington

 

NE

 

 

 

370,620

 

688,294

 

None

 

None

 

370,620

 

688,294

 

1,058,914

 

138,806

 

 

 

12/14/2012

 

300

Loup City

 

NE

 

 

 

190,000

 

922,534

 

None

 

None

 

190,000

 

922,534

 

1,112,534

 

75,340

 

 

 

12/15/2015

 

300

Minden

 

NE

 

 

 

330,000

 

898,300

 

None

 

None

 

330,000

 

898,300

 

1,228,300

 

73,361

 

 

 

12/15/2015

 

300

Nebraska City

 

NE

 

 

 

190,852

 

354,439

 

None

 

None

 

190,852

 

354,439

 

545,291

 

71,478

 

 

 

12/14/2012

 

300

Norfolk

 

NE

 

 

 

222,044

 

873,523

 

10,147

 

None

 

222,044

 

883,670

 

1,105,714

 

153,443

 

 

 

9/25/2013

 

300

Pierce

 

NE

 

 

 

170,000

 

989,610

 

None

 

None

 

170,000

 

989,610

 

1,159,610

 

80,818

 

 

 

12/15/2015

 

300

Red Cloud

 

NE

 

 

 

160,000

 

957,280

 

None

 

None

 

160,000

 

957,280

 

1,117,280

 

78,178

 

 

 

12/15/2015

 

300

South Sioux City

 

NE

 

 

 

290,379

 

539,274

 

None

 

None

 

290,379

 

539,274

 

829,653

 

119,539

 

 

 

6/1/2012

 

300

Valentine

 

NE

 

 

 

146,625

 

1,068,632

 

None

 

None

 

146,625

 

1,068,632

 

1,215,257

 

176,324

 

 

 

11/15/2013

 

300

Manchester

 

NH

 

 

 

457,288

 

849,249

 

None

 

None

 

457,288

 

849,249

 

1,306,537

 

171,265

 

 

 

12/14/2012

 

300

Walpole

 

NH

 

 

 

477,671

 

887,103

 

None

 

None

 

477,671

 

887,103

 

1,364,774

 

178,899

 

 

 

12/14/2012

 

300

Malaga

 

NJ

 

 

 

513,159

 

953,010

 

None

 

None

 

513,159

 

953,010

 

1,466,169

 

192,190

 

 

 

12/14/2012

 

300

Penns Grove

 

NJ

 

 

 

416,842

 

1,639,858

 

None

 

None

 

416,842

 

1,639,858

 

2,056,700

 

286,975

 

 

 

8/22/2013

 

300

Albuquerque

 

NM

 

 

 

281,887

 

523,504

 

None

 

None

 

281,887

 

523,504

 

805,391

 

116,043

 

 

 

6/1/2012

 

300

Albuquerque

 

NM

 

 

 

395,457

 

1,123,530

 

None

 

None

 

395,457

 

1,123,530

 

1,518,987

 

170,402

 

 

 

3/14/2014

 

300

Albuquerque

 

NM

 

 

 

470,559

 

1,343,072

 

None

 

None

 

470,559

 

1,343,072

 

1,813,631

 

172,361

 

 

 

10/6/2014

 

300

Belen

 

NM

 

 

 

195,662

 

1,022,280

 

None

 

None

 

195,662

 

1,022,280

 

1,217,942

 

161,861

 

 

 

1/24/2014

 

300

Bloomfield

 

NM

 

 

 

458,086

 

850,732

 

None

 

None

 

458,086

 

850,732

 

1,308,818

 

188,579

 

 

 

6/1/2012

 

300

Chama

 

NM

 

 

 

392,836

 

729,552

 

None

 

None

 

392,836

 

729,552

 

1,122,388

 

147,126

 

 

 

12/14/2012

 

300

Clovis

 

NM

 

 

 

194,637

 

765,705

 

None

 

None

 

194,637

 

765,705

 

960,342

 

139,103

 

 

 

6/21/2013

 

300

Cuba

 

NM

 

 

 

543,339

 

1,009,059

 

None

 

None

 

543,339

 

1,009,059

 

1,552,398

 

223,675

 

 

 

6/1/2012

 

300

Kirtland

 

NM

 

 

 

688,532

 

1,278,703

 

None

 

None

 

688,532

 

1,278,703

 

1,967,235

 

283,446

 

 

 

6/1/2012

 

300

Las Cruces

 

NM

 

 

 

331,422

 

615,497

 

None

 

None

 

331,422

 

615,497

 

946,919

 

136,435

 

 

 

6/1/2012

 

300

Los Lunas

 

NM

 

 

 

505,257

 

938,335

 

None

 

None

 

505,257

 

938,335

 

1,443,592

 

207,998

 

 

 

6/1/2012

 

300

Roswell

 

NM

 

 

 

334,874

 

829,069

 

None

 

None

 

334,874

 

829,069

 

1,163,943

 

131,269

 

 

 

1/24/2014

 

300

Tularosa

 

NM

 

 

 

233,037

 

432,782

 

None

 

None

 

233,037

 

432,782

 

665,819

 

87,278

 

 

 

12/14/2012

 

300

Tularosa

 

NM

 

 

 

192,325

 

1,004,841

 

None

 

None

 

192,325

 

1,004,841

 

1,197,166

 

159,100

 

 

 

1/24/2014

 

300

Vanderwagon

 

NM

 

 

 

667,383

 

1,239,426

 

None

 

None

 

667,383

 

1,239,426

 

1,906,809

 

274,739

 

 

 

6/1/2012

 

300

Mesquite

 

NV

 

 

 

225,609

 

418,988

 

None

 

None

 

225,609

 

418,988

 

644,597

 

92,876

 

 

 

6/1/2012

 

300

Mesquite

 

NV

 

 

 

231,028

 

1,116,987

 

None

 

None

 

231,028

 

1,116,987

 

1,348,015

 

180,580

 

 

 

12/10/2013

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sun Valley

 

NV

 

 

 

364,207

 

1,432,793

 

None

 

None

 

364,207

 

1,432,793

 

1,797,000

 

250,739

 

 

 

8/22/2013

 

300

Bath

 

NY

 

 

 

145,625

 

760,850

 

None

 

None

 

145,625

 

760,850

 

906,475

 

120,468

 

 

 

1/24/2014

 

300

Binghamton

 

NY

 

 

 

256,309

 

728,197

 

None

 

None

 

256,309

 

728,197

 

984,506

 

103,161

 

 

 

6/30/2014

 

300

Buffalo

 

NY

 

 

 

356,992

 

1,014,248

 

None

 

None

 

356,992

 

1,014,248

 

1,371,240

 

160,589

 

 

 

1/31/2014

 

300

Chaumont

 

NY

 

 

 

137,438

 

915,872

 

None

 

None

 

137,438

 

915,872

 

1,053,310

 

145,013

 

 

 

1/24/2014

 

300

Falconer

 

NY

 

 

 

541,451

 

1,340,506

 

None

 

None

 

541,451

 

1,340,506

 

1,881,957

 

212,247

 

 

 

1/24/2014

 

300

Gouverneur

 

NY

 

 

 

485,614

 

901,855

 

None

 

None

 

485,614

 

901,855

 

1,387,469

 

181,874

 

 

 

12/14/2012

 

300

Gowanda

 

NY

 

 

 

503,722

 

935,484

 

None

 

None

 

503,722

 

935,484

 

1,439,206

 

207,366

 

 

 

6/1/2012

 

300

Malone

 

NY

 

 

 

119,467

 

577,603

 

70,380

 

None

 

119,467

 

647,983

 

767,450

 

98,586

 

 

 

12/20/2013

 

300

Rochester

 

NY

 

 

 

307,714

 

890,061

 

73,108

 

None

 

307,714

 

963,169

 

1,270,883

 

93,366

 

 

 

10/9/2015

 

267

Schenectady

 

NY

 

 

 

468,077

 

869,287

 

None

 

None

 

468,077

 

869,287

 

1,337,364

 

175,306

 

 

 

12/14/2012

 

300

Schroon Lake

 

NY

 

 

 

106,612

 

777,013

 

22,967

 

None

 

106,612

 

799,980

 

906,592

 

126,909

 

 

 

12/20/2013

 

300

Syracuse

 

NY

 

 

 

376,119

 

619,343

 

None

 

None

 

376,119

 

619,343

 

995,462

 

61,702

 

 

 

10/9/2015

 

266

Andover

 

OH

 

 

 

469,209

 

871,388

 

None

 

None

 

469,209

 

871,388

 

1,340,597

 

175,730

 

 

 

12/14/2012

 

300

Arcanum

 

OH

 

 

 

290,000

 

1,023,516

 

None

 

None

 

290,000

 

1,023,516

 

1,313,516

 

83,587

 

 

 

12/15/2015

 

300

Bettsville

 

OH

 

 

 

60,000

 

1,088,485

 

None

 

None

 

60,000

 

1,088,485

 

1,148,485

 

88,893

 

 

 

12/15/2015

 

300

Blanchester

 

OH

 

 

 

359,899

 

668,383

 

None

 

None

 

359,899

 

668,383

 

1,028,282

 

134,791

 

 

 

12/14/2012

 

300

Bradford

 

OH

 

 

 

172,945

 

836,166

 

None

 

None

 

172,945

 

836,166

 

1,009,111

 

140,755

 

 

 

10/22/2013

 

300

Bremen

 

OH

 

 

 

354,866

 

1,153,316

 

None

 

None

 

354,866

 

1,153,316

 

1,508,182

 

228,741

 

 

 

1/22/2013

 

300

Cardington

 

OH

 

 

 

364,843

 

1,185,739

 

None

 

None

 

364,843

 

1,185,739

 

1,550,582

 

235,172

 

 

 

1/22/2013

 

300

Chillicothe

 

OH

 

 

 

322,923

 

1,049,499

 

74,779

 

None

 

322,923

 

1,124,278

 

1,447,201

 

220,740

 

 

 

1/22/2013

 

300

Cincinnati

 

OH

 

 

 

263,944

 

1,038,356

 

None

 

None

 

263,944

 

1,038,356

 

1,302,300

 

181,712

 

 

 

8/22/2013

 

300

Columbus

 

OH

 

 

 

574,968

 

1,067,799

 

None

 

None

 

574,968

 

1,067,799

 

1,642,767

 

236,695

 

 

 

6/1/2012

 

300

Columbus

 

OH

 

 

 

359,083

 

666,868

 

None

 

None

 

359,083

 

666,868

 

1,025,951

 

147,822

 

 

 

6/1/2012

 

300

Columbus

 

OH

 

 

 

361,678

 

895,430

 

None

 

None

 

361,678

 

895,430

 

1,257,108

 

141,776

 

 

 

1/24/2014

 

300

Conneaut

 

OH

 

 

 

166,644

 

805,700

 

None

 

None

 

166,644

 

805,700

 

972,344

 

135,626

 

 

 

10/22/2013

 

300

Dayton

 

OH

 

 

 

315,477

 

1,025,302

 

None

 

None

 

315,477

 

1,025,302

 

1,340,779

 

203,351

 

 

 

1/22/2013

 

300

Elyria

 

OH

 

 

 

251,256

 

988,444

 

None

 

None

 

251,256

 

988,444

 

1,239,700

 

172,978

 

 

 

8/22/2013

 

300

Fairfield

 

OH

 

 

 

219,943

 

865,257

 

None

 

None

 

219,943

 

865,257

 

1,085,200

 

151,420

 

 

 

8/22/2013

 

300

Fayette

 

OH

 

 

 

316,318

 

1,028,034

 

None

 

None

 

316,318

 

1,028,034

 

1,344,352

 

203,894

 

 

 

1/22/2013

 

300

Findlay

 

OH

 

 

 

238,609

 

938,689

 

None

 

None

 

238,609

 

938,689

 

1,177,298

 

170,529

 

 

 

6/21/2013

 

300

Fostoria

 

OH

 

 

 

262,910

 

1,034,290

 

None

 

None

 

262,910

 

1,034,290

 

1,297,200

 

181,001

 

 

 

8/22/2013

 

300

Georgetown

 

OH

 

 

 

381,051

 

707,665

 

None

 

None

 

381,051

 

707,665

 

1,088,716

 

142,713

 

 

 

12/14/2012

 

300

Grand Rapids

 

OH

 

 

 

80,000

 

1,072,480

 

None

 

None

 

80,000

 

1,072,480

 

1,152,480

 

87,586

 

 

 

12/15/2015

 

300

Greenwich

 

OH

 

 

 

146,371

 

975,399

 

None

 

None

 

146,371

 

975,399

 

1,121,770

 

154,438

 

 

 

1/24/2014

 

300

Howard

 

OH

 

 

 

169,394

 

885,037

 

None

 

None

 

169,394

 

885,037

 

1,054,431

 

140,131

 

 

 

1/24/2014

 

300

Huber Heights

 

OH

 

 

 

230,867

 

908,233

 

None

 

None

 

230,867

 

908,233

 

1,139,100

 

158,941

 

 

 

8/22/2013

 

300

Kenton

 

OH

 

 

 

400,787

 

744,320

 

None

 

None

 

400,787

 

744,320

 

1,145,107

 

164,991

 

 

 

6/1/2012

 

300

Kingston

 

OH

 

 

 

373,121

 

1,212,643

 

None

 

None

 

373,121

 

1,212,643

 

1,585,764

 

240,508

 

 

 

1/22/2013

 

300

LaGrange

 

OH

 

 

 

127,580

 

722,266

 

None

 

None

 

127,580

 

722,266

 

849,846

 

1,204

 

 

 

12/28/2017

 

300

Litchfield

 

OH

 

 

 

110,000

 

1,077,669

 

None

 

None

 

110,000

 

1,077,669

 

1,187,669

 

88,010

 

 

 

12/15/2015

 

300

Lorain

 

OH

 

 

 

248,933

 

979,305

 

None

 

None

 

248,933

 

979,305

 

1,228,238

 

177,907

 

 

 

6/21/2013

 

300

Manchester

 

OH

 

 

 

371,453

 

689,842

 

None

 

None

 

371,453

 

689,842

 

1,061,295

 

139,118

 

 

 

12/14/2012

 

300

Marengo

 

OH

 

 

 

213,500

 

839,910

 

None

 

None

 

213,500

 

839,910

 

1,053,410

 

144,185

 

 

 

9/26/2013

 

300

Mechanicsburg

 

OH

 

 

 

350,151

 

650,280

 

None

 

None

 

350,151

 

650,280

 

1,000,431

 

144,145

 

 

 

6/1/2012

 

300

Nashport

 

OH

 

 

 

319,015

 

1,036,799

 

None

 

None

 

319,015

 

1,036,799

 

1,355,814

 

205,632

 

 

 

1/22/2013

 

300

New Miami

 

OH

 

 

 

212,241

 

834,959

 

None

 

None

 

212,241

 

834,959

 

1,047,200

 

146,118

 

 

 

8/22/2013

 

300

Niles

 

OH

 

 

 

260,000

 

1,164,294

 

None

 

None

 

260,000

 

1,164,294

 

1,424,294

 

95,084

 

 

 

12/15/2015

 

300

Oak Harbor

 

OH

 

 

 

373,483

 

1,213,820

 

None

 

None

 

373,483

 

1,213,820

 

1,587,303

 

240,741

 

 

 

1/22/2013

 

300

Orwell

 

OH

 

 

 

293,628

 

545,309

 

None

 

None

 

293,628

 

545,309

 

838,937

 

120,877

 

 

 

6/1/2012

 

300

Peebles

 

OH

 

 

 

436,054

 

809,815

 

None

 

None

 

436,054

 

809,815

 

1,245,869

 

163,313

 

 

 

12/14/2012

 

300

Perry

 

OH

 

 

 

70,000

 

1,114,353

 

None

 

None

 

70,000

 

1,114,353

 

1,184,353

 

91,005

 

 

 

12/15/2015

 

300

Plymouth

 

OH

 

 

 

103,562

 

586,293

 

None

 

None

 

103,562

 

586,293

 

689,855

 

977

 

 

 

12/28/2017

 

300

Racine

 

OH

 

 

 

183,196

 

957,149

 

None

 

None

 

183,196

 

957,149

 

1,140,345

 

151,549

 

 

 

1/24/2014

 

300

Richwood

 

OH

 

 

 

157,044

 

1,046,524

 

None

 

None

 

157,044

 

1,046,524

 

1,203,568

 

165,700

 

 

 

1/24/2014

 

300

Ripley

 

OH

 

 

 

359,515

 

667,671

 

None

 

None

 

359,515

 

667,671

 

1,027,186

 

148,000

 

 

 

6/1/2012

 

300

Rockford

 

OH

 

 

 

117,012

 

852,812

 

None

 

None

 

117,012

 

852,812

 

969,824

 

140,714

 

 

 

11/15/2013

 

300

Seville

 

OH

 

 

 

335,945

 

1,091,822

 

None

 

None

 

335,945

 

1,091,822

 

1,427,767

 

216,545

 

 

 

1/22/2013

 

300

Springfield

 

OH

 

 

 

246,216

 

968,616

 

None

 

None

 

246,216

 

968,616

 

1,214,832

 

175,965

 

 

 

6/21/2013

 

300

Tarlton

 

OH

 

 

 

190,000

 

1,123,464

 

None

 

None

 

190,000

 

1,123,464

 

1,313,464

 

91,750

 

 

 

12/15/2015

 

300

Thornville

 

OH

 

 

 

285,644

 

928,344

 

64,412

 

None

 

285,644

 

992,756

 

1,278,400

 

194,904

 

 

 

1/22/2013

 

300

Toronto

 

OH

 

 

 

356,055

 

1,011,585

 

None

 

None

 

356,055

 

1,011,585

 

1,367,640

 

163,540

 

 

 

12/17/2013

 

300

Trenton

 

OH

 

 

 

439,388

 

707,205

 

None

 

None

 

439,388

 

707,205

 

1,146,593

 

72,359

 

 

 

10/9/2015

 

259

Warren

 

OH

 

 

 

505,805

 

939,353

 

None

 

None

 

505,805

 

939,353

 

1,445,158

 

208,223

 

 

 

6/1/2012

 

300

West Carrollton

 

OH

 

 

 

440,000

 

1,072,193

 

None

 

None

 

440,000

 

1,072,193

 

1,512,193

 

87,562

 

 

 

12/15/2015

 

300

Withamsville

 

OH

 

 

 

276,510

 

1,087,790

 

None

 

None

 

276,510

 

1,087,790

 

1,364,300

 

190,363

 

 

 

8/22/2013

 

300

Attica

 

OH

 

 

 

95,485

 

526,457

 

None

 

None

 

95,485

 

526,457

 

621,942

 

877

 

 

 

12/28/2017

 

300

Rising Sun

 

OH

 

 

 

88,739

 

502,376

 

None

 

None

 

88,739

 

502,376

 

591,115

 

837

 

 

 

12/28/2017

 

300

Wakeman

 

OH

 

 

 

88,749

 

502,430

 

None

 

None

 

88,749

 

502,430

 

591,179

 

837

 

 

 

12/28/2017

 

300

West Unity

 

OH

 

 

 

113,978

 

628,418

 

None

 

None

 

113,978

 

628,418

 

742,396

 

1,047

 

 

 

12/28/2017

 

300

Afton

 

OK

 

 

 

113,611

 

757,094

 

None

 

None

 

113,611

 

757,094

 

870,705

 

119,873

 

 

 

1/24/2014

 

300

Antlers

 

OK

 

 

 

149,985

 

1,093,124

 

None

 

None

 

149,985

 

1,093,124

 

1,243,109

 

169,434

 

 

 

2/27/2014

 

300

Ardmore

 

OK

 

 

 

347,932

 

646,160

 

None

 

None

 

347,932

 

646,160

 

994,092

 

143,232

 

 

 

6/1/2012

 

300

Broken Arrow

 

OK

 

 

 

356,064

 

881,533

 

None

 

None

 

356,064

 

881,533

 

1,237,597

 

139,576

 

 

 

1/24/2014

 

300

Claremore

 

OK

 

 

 

231,355

 

774,203

 

None

 

None

 

231,355

 

774,203

 

1,005,558

 

166,454

 

 

 

8/30/2012

 

300

Clayton

 

OK

 

 

 

533,789

 

826,041

 

None

 

None

 

533,789

 

826,041

 

1,359,830

 

172,092

 

 

 

10/31/2012

 

300

Cleveland

 

OK

 

 

 

196,277

 

1,307,968

 

None

 

None

 

196,277

 

1,307,968

 

1,504,245

 

207,095

 

 

 

1/24/2014

 

300

Collinsville

 

OK

 

 

 

289,014

 

715,532

 

None

 

None

 

289,014

 

715,532

 

1,004,546

 

113,293

 

 

 

1/24/2014

 

300

Davis

 

OK

 

 

 

569,738

 

881,672

 

None

 

None

 

569,738

 

881,672

 

1,451,410

 

183,682

 

 

 

10/31/2012

 

300

Drumright

 

OK

 

 

 

169,840

 

315,418

 

None

 

None

 

169,840

 

315,418

 

485,258

 

63,609

 

 

 

12/14/2012

 

300

Duncan

 

OK

 

 

 

430,448

 

799,403

 

None

 

None

 

430,448

 

799,403

 

1,229,851

 

161,213

 

 

 

12/14/2012

 

300

Elgin

 

OK

 

 

 

194,959

 

942,597

 

None

 

None

 

194,959

 

942,597

 

1,137,556

 

155,529

 

 

 

11/15/2013

 

300

Eufaula

 

OK

 

 

 

195,573

 

769,386

 

None

 

None

 

195,573

 

769,386

 

964,959

 

137,207

 

 

 

7/9/2013

 

300

Grove

 

OK

 

 

 

424,722

 

657,258

 

None

 

None

 

424,722

 

657,258

 

1,081,980

 

136,929

 

 

 

10/31/2012

 

300

Haskell

 

OK

 

 

 

228,333

 

424,047

 

None

 

None

 

228,333

 

424,047

 

652,380

 

93,997

 

 

 

6/1/2012

 

300

Haskell

 

OK

 

 

 

270,000

 

829,885

 

None

 

None

 

270,000

 

829,885

 

1,099,885

 

131,398

 

 

 

1/24/2014

 

300

Hollis

 

OK

 

 

 

61,713

 

880,041

 

None

 

None

 

61,713

 

880,041

 

941,754

 

189,209

 

 

 

8/30/2012

 

300

Hulbert

 

OK

 

 

 

395,384

 

611,858

 

None

 

None

 

395,384

 

611,858

 

1,007,242

 

127,470

 

 

 

10/31/2012

 

300

Kansas

 

OK

 

 

 

398,387

 

616,506

 

None

 

None

 

398,387

 

616,506

 

1,014,893

 

128,439

 

 

 

10/31/2012

 

300

Kellyville

 

OK

 

 

 

422,292

 

653,499

 

None

 

None

 

422,292

 

653,499

 

1,075,791

 

136,146

 

 

 

10/31/2012

 

300

Konawa

 

OK

 

 

 

390,916

 

604,945

 

None

 

None

 

390,916

 

604,945

 

995,861

 

126,030

 

 

 

10/31/2012

 

300

Lawton

 

OK

 

 

 

445,994

 

690,178

 

None

 

None

 

445,994

 

690,178

 

1,136,172

 

143,787

 

 

 

10/31/2012

 

300

Lexington

 

OK

 

 

 

128,927

 

673,606

 

None

 

None

 

128,927

 

673,606

 

802,533

 

106,654

 

 

 

1/24/2014

 

300

Mooreland

 

OK

 

 

 

140,000

 

934,322

 

None

 

None

 

140,000

 

934,322

 

1,074,322

 

76,303

 

 

 

12/15/2015

 

300

Newkirk

 

OK

 

 

 

100,999

 

673,045

 

None

 

None

 

100,999

 

673,045

 

774,044

 

106,565

 

 

 

1/24/2014

 

300

Norman

 

OK

 

 

 

173,541

 

906,703

 

None

 

None

 

173,541

 

906,703

 

1,080,244

 

143,561

 

 

 

1/24/2014

 

300

Oklahoma City

 

OK

 

 

 

400,000

 

678,788

 

None

 

None

 

400,000

 

678,788

 

1,078,788

 

141,414

 

 

 

10/31/2012

 

300

Oklahoma City

 

OK

 

 

 

318,134

 

590,821

 

None

 

None

 

318,134

 

590,821

 

908,955

 

119,149

 

 

 

12/14/2012

 

300

Shawnee

 

OK

 

 

 

288,016

 

534,887

 

None

 

None

 

288,016

 

534,887

 

822,903

 

118,567

 

 

 

6/1/2012

 

300

Shawnee

 

OK

 

 

 

419,371

 

648,979

 

None

 

None

 

419,371

 

648,979

 

1,068,350

 

135,204

 

 

 

10/31/2012

 

300

Shawnee

 

OK

 

 

 

246,641

 

610,625

 

None

 

None

 

246,641

 

610,625

 

857,266

 

96,682

 

 

 

1/24/2014

 

300

Sperry

 

OK

 

 

 

157,888

 

824,918

 

None

 

None

 

157,888

 

824,918

 

982,806

 

130,612

 

 

 

1/24/2014

 

300

Stratford

 

OK

 

 

 

392,814

 

607,881

 

None

 

None

 

392,814

 

607,881

 

1,000,695

 

126,642

 

 

 

10/31/2012

 

300

Tulsa

 

OK

 

 

 

433,486

 

670,822

 

None

 

None

 

433,486

 

670,822

 

1,104,308

 

139,755

 

 

 

10/31/2012

 

300

Tulsa

 

OK

 

 

 

312,846

 

774,535

 

None

 

None

 

312,846

 

774,535

 

1,087,381

 

122,635

 

 

 

1/24/2014

 

300

Wilson

 

OK

 

 

 

89,538

 

814,202

 

None

 

None

 

89,538

 

814,202

 

903,740

 

175,053

 

 

 

8/30/2012

 

300

Woodward

 

OK

 

 

 

221,150

 

802,563

 

None

 

None

 

221,150

 

802,563

 

1,023,713

 

172,551

 

 

 

8/30/2012

 

300

Lemont Furnace

 

PA

 

 

 

298,795

 

848,903

 

None

 

None

 

298,795

 

848,903

 

1,147,698

 

131,580

 

 

 

2/27/2014

 

300

Smithfield

 

PA

 

 

 

255,705

 

1,005,946

 

None

 

None

 

255,705

 

1,005,946

 

1,261,651

 

172,687

 

 

 

9/26/2013

 

300

Somerset

 

PA

 

 

 

301,986

 

1,188,014

 

None

 

None

 

301,986

 

1,188,014

 

1,490,000

 

207,902

 

 

 

8/22/2013

 

300

Cayce

 

SC

 

 

 

207,965

 

818,135

 

None

 

None

 

207,965

 

818,135

 

1,026,100

 

143,174

 

 

 

8/22/2013

 

300

Denmark

 

SC

 

 

 

220,498

 

867,442

 

18,832

 

None

 

220,498

 

886,274

 

1,106,772

 

148,950

 

 

 

9/30/2013

 

300

Florence

 

SC

 

 

 

190,573

 

777,528

 

9,344

 

None

 

190,573

 

786,872

 

977,445

 

146,921

 

 

 

4/23/2013

 

300

Heath Springs

 

SC

 

 

 

158,107

 

826,065

 

None

 

None

 

158,107

 

826,065

 

984,172

 

130,794

 

 

 

1/24/2014

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kingstree

 

SC

 

 

 

198,491

 

780,866

 

None

 

None

 

198,491

 

780,866

 

979,357

 

134,049

 

 

 

9/18/2013

 

300

Longs

 

SC

 

 

 

239,632

 

1,252,008

 

None

 

None

 

239,632

 

1,252,008

 

1,491,640

 

198,235

 

 

 

1/24/2014

 

300

Myrtle Beach

 

SC

 

 

 

268,056

 

497,817

 

None

 

None

 

268,056

 

497,817

 

765,873

 

100,393

 

 

 

12/14/2012

 

300

N Myrtle Beach

 

SC

 

 

 

155,168

 

610,432

 

None

 

None

 

155,168

 

610,432

 

765,600

 

106,826

 

 

 

8/22/2013

 

300

Newberry

 

SC

 

 

 

383,286

 

711,817

 

None

 

None

 

383,286

 

711,817

 

1,095,103

 

143,550

 

 

 

12/14/2012

 

300

North Charleston

 

SC

 

 

 

254,479

 

1,001,121

 

None

 

None

 

254,479

 

1,001,121

 

1,255,600

 

175,196

 

 

 

8/22/2013

 

300

Orangeburg

 

SC

 

 

 

60,000

 

691,079

 

None

 

None

 

60,000

 

691,079

 

751,079

 

109,421

 

 

 

1/24/2014

 

300

Ridgeland

 

SC

 

 

 

375,699

 

1,349,908

 

None

 

None

 

375,699

 

1,349,908

 

1,725,607

 

130,557

 

 

 

10/9/2015

 

274

Ridgeway

 

SC

 

 

 

126,727

 

844,496

 

None

 

None

 

126,727

 

844,496

 

971,223

 

133,712

 

 

 

1/24/2014

 

300

Timmonsville

 

SC

 

 

 

209,841

 

856,141

 

None

 

None

 

209,841

 

856,141

 

1,065,982

 

161,240

 

 

 

4/23/2013

 

300

Union

 

SC

 

 

 

225,174

 

885,835

 

None

 

None

 

225,174

 

885,835

 

1,111,009

 

152,068

 

 

 

9/30/2013

 

300

Westminster

 

SC

 

 

 

350,000

 

987,266

 

None

 

None

 

350,000

 

987,266

 

1,337,266

 

156,317

 

 

 

1/24/2014

 

300

Chamberlain

 

SD

 

 

 

588,809

 

969,571

 

None

 

None

 

588,809

 

969,571

 

1,558,380

 

96,593

 

 

 

10/9/2015

 

266

Rapid City

 

SD

 

 

 

330,000

 

912,615

 

None

 

None

 

330,000

 

912,615

 

1,242,615

 

74,530

 

 

 

12/15/2015

 

300

Adams

 

TN

 

 

 

121,868

 

812,117

 

None

 

None

 

121,868

 

812,117

 

933,985

 

128,585

 

 

 

1/24/2014

 

300

Bethel Springs

 

TN

 

 

 

134,530

 

702,880

 

None

 

None

 

134,530

 

702,880

 

837,410

 

111,289

 

 

 

1/24/2014

 

300

Bloomington Sprgs

 

TN

 

 

 

173,585

 

906,933

 

None

 

None

 

173,585

 

906,933

 

1,080,518

 

143,598

 

 

 

1/24/2014

 

300

Caryville

 

TN

 

 

 

218,883

 

861,087

 

None

 

None

 

218,883

 

861,087

 

1,079,970

 

147,820

 

 

 

9/24/2013

 

300

Celina

 

TN

 

 

 

157,341

 

1,048,501

 

None

 

None

 

157,341

 

1,048,501

 

1,205,842

 

166,013

 

 

 

1/24/2014

 

300

Church Hill

 

TN

 

 

 

220,676

 

868,141

 

None

 

None

 

220,676

 

868,141

 

1,088,817

 

151,925

 

 

 

8/1/2013

 

300

Cordova

 

TN

 

 

 

362,262

 

896,875

 

None

 

None

 

362,262

 

896,875

 

1,259,137

 

142,005

 

 

 

1/24/2014

 

300

Covington

 

TN

 

 

 

192,392

 

1,005,191

 

None

 

None

 

192,392

 

1,005,191

 

1,197,583

 

159,155

 

 

 

1/24/2014

 

300

Crossville

 

TN

 

 

 

224,273

 

882,294

 

None

 

None

 

224,273

 

882,294

 

1,106,567

 

151,460

 

 

 

9/24/2013

 

300

Dresden

 

TN

 

 

 

169,202

 

884,035

 

None

 

None

 

169,202

 

884,035

 

1,053,237

 

139,972

 

 

 

1/24/2014

 

300

Dyersburg

 

TN

 

 

 

138,691

 

724,619

 

None

 

None

 

138,691

 

724,619

 

863,310

 

114,731

 

 

 

1/24/2014

 

300

Dyersburg

 

TN

 

 

 

134,528

 

702,868

 

None

 

None

 

134,528

 

702,868

 

837,396

 

111,287

 

 

 

1/24/2014

 

300

Friendship

 

TN

 

 

 

129,543

 

863,263

 

None

 

None

 

129,543

 

863,263

 

992,806

 

136,683

 

 

 

1/24/2014

 

300

Grand Junction

 

TN

 

 

 

119,405

 

795,703

 

None

 

None

 

119,405

 

795,703

 

915,108

 

125,986

 

 

 

1/24/2014

 

300

Grimsley

 

TN

 

 

 

190,000

 

832,058

 

None

 

None

 

190,000

 

832,058

 

1,022,058

 

142,837

 

 

 

9/24/2013

 

300

Halls

 

TN

 

 

 

224,485

 

1,172,868

 

None

 

None

 

224,485

 

1,172,868

 

1,397,353

 

185,704

 

 

 

1/24/2014

 

300

Harriman

 

TN

 

 

 

260,000

 

975,515

 

None

 

None

 

260,000

 

975,515

 

1,235,515

 

151,205

 

 

 

2/5/2014

 

300

Humboldt

 

TN

 

 

 

163,042

 

665,204

 

None

 

None

 

163,042

 

665,204

 

828,246

 

127,497

 

 

 

3/19/2013

 

300

Madisonville

 

TN

 

 

 

185,976

 

731,631

 

41,687

 

None

 

185,976

 

773,318

 

959,294

 

131,104

 

 

 

8/30/2013

 

300

Martin

 

TN

 

 

 

160,410

 

838,094

 

None

 

None

 

160,410

 

838,094

 

998,504

 

132,698

 

 

 

1/24/2014

 

300

Mascot

 

TN

 

 

 

428,927

 

663,766

 

None

 

None

 

428,927

 

663,766

 

1,092,693

 

138,285

 

 

 

10/31/2012

 

300

Memphis

 

TN

 

 

 

225,548

 

418,876

 

None

 

None

 

225,548

 

418,876

 

644,424

 

92,851

 

 

 

6/1/2012

 

300

Memphis

 

TN

 

 

 

493,000

 

915,572

 

None

 

None

 

493,000

 

915,572

 

1,408,572

 

202,952

 

 

 

6/1/2012

 

300

Memphis

 

TN

 

 

 

369,950

 

687,049

 

None

 

None

 

369,950

 

687,049

 

1,056,999

 

152,296

 

 

 

6/1/2012

 

300

Memphis

 

TN

 

 

 

563,795

 

1,047,048

 

None

 

None

 

563,795

 

1,047,048

 

1,610,843

 

232,096

 

 

 

6/1/2012

 

300

Memphis

 

TN

 

 

 

552,777

 

1,026,586

 

None

 

None

 

552,777

 

1,026,586

 

1,579,363

 

227,560

 

 

 

6/1/2012

 

300

Memphis

 

TN

 

 

 

253,148

 

626,736

 

None

 

None

 

253,148

 

626,736

 

879,884

 

99,233

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

332,829

 

824,006

 

None

 

None

 

332,829

 

824,006

 

1,156,835

 

130,468

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

299,794

 

742,220

 

None

 

None

 

299,794

 

742,220

 

1,042,014

 

117,518

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

315,786

 

781,812

 

None

 

None

 

315,786

 

781,812

 

1,097,598

 

123,787

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

312,958

 

774,812

 

None

 

None

 

312,958

 

774,812

 

1,087,770

 

122,678

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

330,000

 

1,049,568

 

None

 

None

 

330,000

 

1,049,568

 

1,379,568

 

166,182

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

327,861

 

811,707

 

None

 

None

 

327,861

 

811,707

 

1,139,568

 

128,520

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

312,275

 

773,121

 

None

 

None

 

312,275

 

773,121

 

1,085,396

 

122,411

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

390,000

 

772,302

 

None

 

None

 

390,000

 

772,302

 

1,162,302

 

122,281

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

352,417

 

872,503

 

None

 

None

 

352,417

 

872,503

 

1,224,920

 

138,146

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

409,578

 

1,014,019

 

None

 

None

 

409,578

 

1,014,019

 

1,423,597

 

160,553

 

 

 

1/24/2014

 

300

Memphis

 

TN

 

 

 

405,442

 

1,003,781

 

None

 

None

 

405,442

 

1,003,781

 

1,409,223

 

158,932

 

 

 

1/24/2014

 

300

Michie

 

TN

 

 

 

123,911

 

825,729

 

None

 

None

 

123,911

 

825,729

 

949,640

 

130,741

 

 

 

1/24/2014

 

300

Milledgeville

 

TN

 

 

 

270,000

 

731,439

 

None

 

None

 

270,000

 

731,439

 

1,001,439

 

115,811

 

 

 

1/24/2014

 

300

Nashville

 

TN

 

 

 

589,570

 

948,928

 

None

 

None

 

589,570

 

948,928

 

1,538,498

 

97,091

 

 

 

10/9/2015

 

259

Niota

 

TN

 

 

 

152,948

 

799,110

 

None

 

None

 

152,948

 

799,110

 

952,058

 

126,526

 

 

 

1/24/2014

 

300

Rogersville

 

TN

 

 

 

206,436

 

812,120

 

None

 

None

 

206,436

 

812,120

 

1,018,556

 

142,121

 

 

 

8/14/2013

 

300

Sharon

 

TN

 

 

 

130,332

 

868,517

 

None

 

None

 

130,332

 

868,517

 

998,849

 

137,515

 

 

 

1/24/2014

 

300

Sunbright

 

TN

 

 

 

355,282

 

1,154,668

 

None

 

None

 

355,282

 

1,154,668

 

1,509,950

 

229,009

 

 

 

1/22/2013

 

300

Tennessee Ridge

 

TN

 

 

 

120,926

 

805,837

 

None

 

None

 

120,926

 

805,837

 

926,763

 

127,591

 

 

 

1/24/2014

 

300

Trezevant

 

TN

 

 

 

170,247

 

805,149

 

None

 

None

 

170,247

 

805,149

 

975,396

 

127,482

 

 

 

1/24/2014

 

300

Alpine

 

TX

 

 

 

248,256

 

1,297,068

 

None

 

None

 

248,256

 

1,297,068

 

1,545,324

 

205,369

 

 

 

1/24/2014

 

300

Alton

 

TX

 

 

 

345,945

 

642,468

 

None

 

None

 

345,945

 

642,468

 

988,413

 

142,414

 

 

 

6/1/2012

 

300

Amarillo

 

TX

 

 

 

191,492

 

811,497

 

None

 

None

 

191,492

 

811,497

 

1,002,989

 

174,472

 

 

 

8/30/2012

 

300

Amarillo

 

TX

 

 

 

260,864

 

712,639

 

None

 

None

 

260,864

 

712,639

 

973,503

 

153,217

 

 

 

8/30/2012

 

300

Anahuac

 

TX

 

 

 

531,601

 

987,259

 

None

 

None

 

531,601

 

987,259

 

1,518,860

 

199,097

 

 

 

12/14/2012

 

300

Anson

 

TX

 

608,000

 

139,586

 

1,017,331

 

None

 

None

 

139,586

 

1,017,331

 

1,156,917

 

150,904

 

 

 

4/30/2014

 

300

Arcola

 

TX

 

 

 

309,969

 

961,069

 

None

 

None

 

309,969

 

961,069

 

1,271,038

 

206,630

 

 

 

8/30/2012

 

300

Atlanta

 

TX

 

 

 

427,591

 

661,699

 

None

 

None

 

427,591

 

661,699

 

1,089,290

 

137,854

 

 

 

10/31/2012

 

300

Austin

 

TX

 

 

 

590,000

 

812,479

 

None

 

None

 

590,000

 

812,479

 

1,402,479

 

169,266

 

 

 

10/31/2012

 

300

Austin

 

TX

 

 

 

333,480

 

947,447

 

None

 

None

 

333,480

 

947,447

 

1,280,927

 

159,487

 

 

 

10/24/2013

 

300

Bacliff

 

TX

 

 

 

557,574

 

1,035,495

 

None

 

None

 

557,574

 

1,035,495

 

1,593,069

 

229,535

 

 

 

6/1/2012

 

300

Baytown

 

TX

 

 

 

486,394

 

903,304

 

None

 

None

 

486,394

 

903,304

 

1,389,698

 

200,232

 

 

 

6/1/2012

 

300

Baytown

 

TX

 

 

 

447,005

 

830,152

 

None

 

None

 

447,005

 

830,152

 

1,277,157

 

184,017

 

 

 

6/1/2012

 

300

Beaumont

 

TX

 

 

 

526,746

 

978,243

 

None

 

None

 

526,746

 

978,243

 

1,504,989

 

216,844

 

 

 

6/1/2012

 

300

Beaumont

 

TX

 

 

 

186,877

 

1,007,961

 

None

 

None

 

186,877

 

1,007,961

 

1,194,838

 

216,712

 

 

 

8/30/2012

 

300

Beeville

 

TX

 

 

 

382,613

 

710,566

 

None

 

None

 

382,613

 

710,566

 

1,093,179

 

157,509

 

 

 

6/1/2012

 

300

Bloomington

 

TX

 

 

 

330,656

 

1,074,634

 

None

 

None

 

330,656

 

1,074,634

 

1,405,290

 

213,136

 

 

 

1/22/2013

 

300

Blossom

 

TX

 

 

 

82,320

 

825,297

 

None

 

None

 

82,320

 

825,297

 

907,617

 

177,439

 

 

 

8/30/2012

 

300

Borger

 

TX

 

589,000

 

166,456

 

804,791

 

None

 

None

 

166,456

 

804,791

 

971,247

 

119,377

 

 

 

4/30/2014

 

300

Brookshire

 

TX

 

863,000

 

281,120

 

1,359,173

 

None

 

None

 

281,120

 

1,359,173

 

1,640,293

 

201,611

 

 

 

4/30/2014

 

300

Brownsville

 

TX

 

 

 

287,319

 

533,592

 

None

 

None

 

287,319

 

533,592

 

820,911

 

118,280

 

 

 

6/1/2012

 

300

Bullard

 

TX

 

600,000

 

183,822

 

888,752

 

None

 

None

 

183,822

 

888,752

 

1,072,574

 

131,832

 

 

 

4/30/2014

 

300

Canton

 

TX

 

 

 

165,267

 

1,358,083

 

None

 

None

 

165,267

 

1,358,083

 

1,523,350

 

291,988

 

 

 

8/30/2012

 

300

Canyon Lake

 

TX

 

 

 

424,566

 

788,481

 

None

 

None

 

424,566

 

788,481

 

1,213,047

 

174,780

 

 

 

6/1/2012

 

300

Canyon Lake

 

TX

 

 

 

183,707

 

1,170,581

 

None

 

None

 

183,707

 

1,170,581

 

1,354,288

 

251,675

 

 

 

8/30/2012

 

300

Cedar Creek

 

TX

 

 

 

183,296

 

933,294

 

None

 

None

 

183,296

 

933,294

 

1,116,590

 

200,658

 

 

 

8/30/2012

 

300

Cisco

 

TX

 

531,000

 

139,059

 

1,013,495

 

None

 

None

 

139,059

 

1,013,495

 

1,152,554

 

150,335

 

 

 

4/30/2014

 

300

Corpus Christi

 

TX

 

 

 

460,501

 

855,215

 

None

 

None

 

460,501

 

855,215

 

1,315,716

 

189,573

 

 

 

6/1/2012

 

300

Corpus Christi

 

TX

 

 

 

577,037

 

1,071,640

 

None

 

None

 

577,037

 

1,071,640

 

1,648,677

 

237,547

 

 

 

6/1/2012

 

300

Corpus Christi

 

TX

 

 

 

291,106

 

540,626

 

None

 

None

 

291,106

 

540,626

 

831,732

 

119,839

 

 

 

6/1/2012

 

300

Corpus Christi

 

TX

 

 

 

408,524

 

1,327,703

 

None

 

None

 

408,524

 

1,327,703

 

1,736,227

 

263,328

 

 

 

1/22/2013

 

300

Corpus Christi

 

TX

 

 

 

287,912

 

1,132,648

 

None

 

None

 

287,912

 

1,132,648

 

1,420,560

 

205,764

 

 

 

6/21/2013

 

300

Corpus Christi

 

TX

 

 

 

363,669

 

900,360

 

None

 

None

 

363,669

 

900,360

 

1,264,029

 

142,557

 

 

 

1/24/2014

 

300

Corrigan

 

TX

 

 

 

256,676

 

834,196

 

1,514

 

None

 

256,676

 

835,710

 

1,092,386

 

166,963

 

 

 

1/22/2013

 

300

Cotulla

 

TX

 

 

 

919,863

 

1,708,316

 

None

 

None

 

919,863

 

1,708,316

 

2,628,179

 

344,510

 

 

 

12/14/2012

 

300

Creedmoor

 

TX

 

 

 

490,979

 

759,793

 

None

 

None

 

490,979

 

759,793

 

1,250,772

 

158,290

 

 

 

10/31/2012

 

300

Crystal City

 

TX

 

 

 

549,519

 

1,020,535

 

None

 

None

 

549,519

 

1,020,535

 

1,570,054

 

205,808

 

 

 

12/14/2012

 

300

Dallas

 

TX

 

 

 

660,890

 

1,227,367

 

None

 

None

 

660,890

 

1,227,367

 

1,888,257

 

272,066

 

 

 

6/1/2012

 

300

Dallas

 

TX

 

 

 

474,480

 

881,177

 

None

 

None

 

474,480

 

881,177

 

1,355,657

 

195,328

 

 

 

6/1/2012

 

300

Dallas

 

TX

 

 

 

433,859

 

1,238,325

 

None

 

None

 

433,859

 

1,238,325

 

1,672,184

 

167,174

 

 

 

8/25/2014

 

300

Del Rio

 

TX

 

 

 

507,216

 

784,918

 

None

 

None

 

507,216

 

784,918

 

1,292,134

 

163,525

 

 

 

10/31/2012

 

300

Desoto

 

TX

 

 

 

510,567

 

790,105

 

None

 

None

 

510,567

 

790,105

 

1,300,672

 

164,605

 

 

 

10/31/2012

 

300

Dilley

 

TX

 

 

 

141,101

 

940,281

 

None

 

None

 

141,101

 

940,281

 

1,081,382

 

148,878

 

 

 

1/24/2014

 

300

Eagle Pass

 

TX

 

 

 

516,608

 

959,416

 

None

 

None

 

516,608

 

959,416

 

1,476,024

 

212,670

 

 

 

6/1/2012

 

300

Eagle Pass

 

TX

 

 

 

433,864

 

671,406

 

None

 

None

 

433,864

 

671,406

 

1,105,270

 

139,876

 

 

 

10/31/2012

 

300

East Bernard

 

TX

 

577,000

 

132,881

 

968,462

 

None

 

None

 

132,881

 

968,462

 

1,101,343

 

143,655

 

 

 

4/30/2014

 

300

Edinburg

 

TX

 

 

 

380,000

 

716,403

 

None

 

None

 

380,000

 

716,403

 

1,096,403

 

113,430

 

 

 

1/24/2014

 

300

El Paso

 

TX

 

 

 

270,000

 

940,688

 

None

 

None

 

270,000

 

940,688

 

1,210,688

 

76,823

 

 

 

12/15/2015

 

300

Elsa

 

TX

 

 

 

379,998

 

1,234,994

 

None

 

None

 

379,998

 

1,234,994

 

1,614,992

 

244,941

 

 

 

1/22/2013

 

300

Fort Stockton

 

TX

 

 

 

465,636

 

864,752

 

None

 

None

 

465,636

 

864,752

 

1,330,388

 

174,392

 

 

 

12/14/2012

 

300

Fort Worth

 

TX

 

 

 

547,855

 

1,019,204

 

None

 

None

 

547,855

 

1,019,204

 

1,567,059

 

219,129

 

 

 

8/30/2012

 

300

Fort Worth

 

TX

 

 

 

213,683

 

848,314

 

None

 

None

 

213,683

 

848,314

 

1,061,997

 

182,388

 

 

 

8/30/2012

 

300

Fort Worth

 

TX

 

 

 

600,746

 

1,115,672

 

None

 

None

 

600,746

 

1,115,672

 

1,716,418

 

224,994

 

 

 

12/14/2012

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fort Worth

 

TX

 

 

 

160,563

 

631,657

 

70,358

 

None

 

160,563

 

702,015

 

862,578

 

112,800

 

 

 

8/15/2013

 

300

Freer

 

TX

 

 

 

269,137

 

499,827

 

None

 

None

 

269,137

 

499,827

 

768,964

 

100,798

 

 

 

12/14/2012

 

300

Garland

 

TX

 

 

 

228,333

 

424,047

 

None

 

None

 

228,333

 

424,047

 

652,380

 

93,997

 

 

 

6/1/2012

 

300

Garland

 

TX

 

 

 

298,055

 

737,916

 

None

 

None

 

298,055

 

737,916

 

1,035,971

 

116,837

 

 

 

1/24/2014

 

300

Glen Rose

 

TX

 

903,000

 

269,359

 

1,302,309

 

None

 

None

 

269,359

 

1,302,309

 

1,571,668

 

193,176

 

 

 

4/30/2014

 

300

Glenn Heights

 

TX

 

 

 

297,559

 

736,686

 

None

 

None

 

297,559

 

736,686

 

1,034,245

 

116,642

 

 

 

1/24/2014

 

300

Granite Shoals

 

TX

 

 

 

371,795

 

1,208,334

 

None

 

None

 

371,795

 

1,208,334

 

1,580,129

 

239,653

 

 

 

1/22/2013

 

300

Grape Creek

 

TX

 

 

 

232,999

 

710,940

 

None

 

None

 

232,999

 

710,940

 

943,939

 

152,852

 

 

 

8/30/2012

 

300

Hamilton

 

TX

 

626,000

 

140,174

 

1,021,615

 

None

 

None

 

140,174

 

1,021,615

 

1,161,789

 

151,540

 

 

 

4/30/2014

 

300

Hardin

 

TX

 

 

 

143,336

 

805,614

 

None

 

None

 

143,336

 

805,614

 

948,950

 

173,207

 

 

 

8/30/2012

 

300

Harker Heights

 

TX

 

 

 

488,753

 

907,685

 

None

 

None

 

488,753

 

907,685

 

1,396,438

 

201,203

 

 

 

6/1/2012

 

300

Harker Heights

 

TX

 

 

 

469,370

 

726,352

 

None

 

None

 

469,370

 

726,352

 

1,195,722

 

151,323

 

 

 

10/31/2012

 

300

Hebbronville

 

TX

 

 

 

481,250

 

893,750

 

None

 

None

 

481,250

 

893,750

 

1,375,000

 

180,240

 

 

 

12/14/2012

 

300

Hebbronville

 

TX

 

 

 

240,000

 

1,014,676

 

None

 

None

 

240,000

 

1,014,676

 

1,254,676

 

160,657

 

 

 

1/24/2014

 

300

Hewitt

 

TX

 

 

 

493,299

 

763,382

 

None

 

None

 

493,299

 

763,382

 

1,256,681

 

159,038

 

 

 

10/31/2012

 

300

Hidalgo

 

TX

 

 

 

450,411

 

1,115,114

 

None

 

None

 

450,411

 

1,115,114

 

1,565,525

 

176,560

 

 

 

1/24/2014

 

300

Houston

 

TX

 

 

 

279,181

 

518,479

 

None

 

None

 

279,181

 

518,479

 

797,660

 

114,930

 

 

 

6/1/2012

 

300

Houston

 

TX

 

 

 

434,980

 

807,819

 

None

 

None

 

434,980

 

807,819

 

1,242,799

 

179,067

 

 

 

6/1/2012

 

300

Houston

 

TX

 

 

 

429,081

 

796,866

 

None

 

None

 

429,081

 

796,866

 

1,225,947

 

176,639

 

 

 

6/1/2012

 

300

Houston

 

TX

 

 

 

490,377

 

910,700

 

None

 

None

 

490,377

 

910,700

 

1,401,077

 

201,872

 

 

 

6/1/2012

 

300

Houston

 

TX

 

 

 

565,402

 

874,961

 

None

 

None

 

565,402

 

874,961

 

1,440,363

 

182,284

 

 

 

10/31/2012

 

300

Houston

 

TX

 

 

 

650,000

 

866,899

 

None

 

None

 

650,000

 

866,899

 

1,516,899

 

180,604

 

 

 

10/31/2012

 

300

Houston

 

TX

 

 

 

562,086

 

869,831

 

None

 

None

 

562,086

 

869,831

 

1,431,917

 

181,215

 

 

 

10/31/2012

 

300

Houston

 

TX

 

 

 

467,805

 

868,780

 

None

 

None

 

467,805

 

868,780

 

1,336,585

 

175,204

 

 

 

12/14/2012

 

300

Houston

 

TX

 

 

 

610,149

 

1,133,135

 

None

 

None

 

610,149

 

1,133,135

 

1,743,284

 

228,515

 

 

 

12/14/2012

 

300

Houston

 

TX

 

 

 

474,480

 

881,178

 

None

 

None

 

474,480

 

881,178

 

1,355,658

 

177,704

 

 

 

12/14/2012

 

300

Houston

 

TX

 

 

 

310,255

 

1,220,545

 

None

 

None

 

310,255

 

1,220,545

 

1,530,800

 

213,595

 

 

 

8/22/2013

 

300

Houston

 

TX

 

 

 

283,623

 

1,115,777

 

None

 

None

 

283,623

 

1,115,777

 

1,399,400

 

195,261

 

 

 

8/22/2013

 

300

Houston

 

TX

 

 

 

440,874

 

1,091,500

 

None

 

None

 

440,874

 

1,091,500

 

1,532,374

 

172,821

 

 

 

1/24/2014

 

300

Houston

 

TX

 

 

 

347,071

 

986,059

 

None

 

None

 

347,071

 

986,059

 

1,333,130

 

149,552

 

 

 

3/28/2014

 

300

Houston

 

TX

 

 

 

410,616

 

1,023,849

 

None

 

None

 

410,616

 

1,023,849

 

1,434,465

 

1,706

 

 

 

12/28/2017

 

300

Houston

 

TX

 

 

 

448,422

 

1,118,118

 

None

 

None

 

448,422

 

1,118,118

 

1,566,540

 

1,864

 

 

 

12/28/2017

 

300

Hubbard

 

TX

 

 

 

128,604

 

857,007

 

None

 

None

 

128,604

 

857,007

 

985,611

 

135,693

 

 

 

1/24/2014

 

300

Itasca

 

TX

 

543,000

 

118,010

 

860,081

 

None

 

None

 

118,010

 

860,081

 

978,091

 

127,579

 

 

 

4/1/2014

 

300

Jefferson

 

TX

 

 

 

339,075

 

1,333,925

 

None

 

None

 

339,075

 

1,333,925

 

1,673,000

 

233,437

 

 

 

8/22/2013

 

300

Joaquin

 

TX

 

656,000

 

135,219

 

985,502

 

None

 

None

 

135,219

 

985,502

 

1,120,721

 

146,183

 

 

 

4/1/2014

 

300

Katy

 

TX

 

 

 

554,109

 

857,486

 

None

 

None

 

554,109

 

857,486

 

1,411,595

 

178,643

 

 

 

10/31/2012

 

300

Katy

 

TX

 

 

 

346,827

 

985,367

 

None

 

None

 

346,827

 

985,367

 

1,332,194

 

165,870

 

 

 

10/11/2013

 

300

Kaufman

 

TX

 

 

 

488,687

 

907,561

 

None

 

None

 

488,687

 

907,561

 

1,396,248

 

201,176

 

 

 

6/1/2012

 

300

Kermit

 

TX

 

 

 

234,478

 

922,439

 

None

 

None

 

234,478

 

922,439

 

1,156,917

 

167,576

 

 

 

6/21/2013

 

300

Killeen

 

TX

 

 

 

480,758

 

892,837

 

None

 

None

 

480,758

 

892,837

 

1,373,595

 

197,912

 

 

 

6/1/2012

 

300

Killeen

 

TX

 

 

 

471,572

 

729,760

 

None

 

None

 

471,572

 

729,760

 

1,201,332

 

152,033

 

 

 

10/31/2012

 

300

Killeen

 

TX

 

 

 

380,000

 

881,852

 

None

 

None

 

380,000

 

881,852

 

1,261,852

 

72,018

 

 

 

12/15/2015

 

300

Killeen

 

TX

 

 

 

440,000

 

830,465

 

None

 

None

 

440,000

 

830,465

 

1,270,465

 

67,821

 

 

 

12/15/2015

 

300

Lacy Lakeview

 

TX

 

 

 

429,768

 

798,141

 

None

 

None

 

429,768

 

798,141

 

1,227,909

 

176,921

 

 

 

6/1/2012

 

300

Lakehills

 

TX

 

 

 

183,968

 

795,341

 

None

 

None

 

183,968

 

795,341

 

979,309

 

170,998

 

 

 

8/30/2012

 

300

Lamesa

 

TX

 

 

 

450,012

 

835,736

 

None

 

None

 

450,012

 

835,736

 

1,285,748

 

185,255

 

 

 

6/1/2012

 

300

Leonard

 

TX

 

 

 

277,575

 

515,496

 

None

 

None

 

277,575

 

515,496

 

793,071

 

114,268

 

 

 

6/1/2012

 

300

Llano

 

TX

 

804,000

 

179,332

 

1,307,011

 

None

 

None

 

179,332

 

1,307,011

 

1,486,343

 

193,873

 

 

 

4/1/2014

 

300

Longview

 

TX

 

 

 

435,985

 

809,687

 

None

 

None

 

435,985

 

809,687

 

1,245,672

 

163,287

 

 

 

12/14/2012

 

300

Longview

 

TX

 

 

 

473,119

 

878,650

 

None

 

None

 

473,119

 

878,650

 

1,351,769

 

177,194

 

 

 

12/14/2012

 

300

Longview

 

TX

 

 

 

150,012

 

278,594

 

None

 

None

 

150,012

 

278,594

 

428,606

 

56,183

 

 

 

12/14/2012

 

300

Los Fresnos

 

TX

 

 

 

533,059

 

989,968

 

None

 

None

 

533,059

 

989,968

 

1,523,027

 

219,443

 

 

 

6/1/2012

 

300

Lufkin

 

TX

 

 

 

267,700

 

497,158

 

None

 

None

 

267,700

 

497,158

 

764,858

 

100,260

 

 

 

12/14/2012

 

300

Marfa

 

TX

 

 

 

310,000

 

1,325,712

 

None

 

None

 

310,000

 

1,325,712

 

1,635,712

 

209,904

 

 

 

1/24/2014

 

300

Marshall

 

TX

 

 

 

665,113

 

1,235,211

 

None

 

None

 

665,113

 

1,235,211

 

1,900,324

 

273,805

 

 

 

6/1/2012

 

300

Memphis

 

TX

 

461,000

 

102,312

 

745,672

 

None

 

None

 

102,312

 

745,672

 

847,984

 

110,608

 

 

 

4/1/2014

 

300

Midland

 

TX

 

 

 

544,075

 

1,322,431

 

None

 

None

 

544,075

 

1,322,431

 

1,866,506

 

1,051,220

 

 

 

2/3/1998

 

300

Midland

 

TX

 

 

 

194,594

 

790,843

 

None

 

None

 

194,594

 

790,843

 

985,437

 

170,031

 

 

 

8/30/2012

 

300

Monahans

 

TX

 

 

 

473,723

 

879,770

 

None

 

None

 

473,723

 

879,770

 

1,353,493

 

177,420

 

 

 

12/14/2012

 

300

Monte Alto

 

TX

 

 

 

370,770

 

1,205,004

 

None

 

None

 

370,770

 

1,205,004

 

1,575,774

 

238,993

 

 

 

1/22/2013

 

300

Morton

 

TX

 

 

 

190,918

 

751,074

 

None

 

None

 

190,918

 

751,074

 

941,992

 

136,445

 

 

 

6/21/2013

 

300

Mount Enterprise

 

TX

 

 

 

510,030

 

947,198

 

None

 

None

 

510,030

 

947,198

 

1,457,228

 

191,018

 

 

 

12/14/2012

 

300

Mt Vernon

 

TX

 

641,000

 

132,850

 

968,238

 

None

 

None

 

132,850

 

968,238

 

1,101,088

 

143,622

 

 

 

4/1/2014

 

300

Nacogdoches

 

TX

 

 

 

585,075

 

1,086,567

 

None

 

None

 

585,075

 

1,086,567

 

1,671,642

 

219,124

 

 

 

12/14/2012

 

300

New Boston

 

TX

 

 

 

226,547

 

420,730

 

None

 

None

 

226,547

 

420,730

 

647,277

 

93,262

 

 

 

6/1/2012

 

300

Odessa

 

TX

 

 

 

200,900

 

874,978

 

None

 

None

 

200,900

 

874,978

 

1,075,878

 

188,120

 

 

 

8/30/2012

 

300

Odessa

 

TX

 

 

 

393,275

 

795,622

 

None

 

None

 

393,275

 

795,622

 

1,188,897

 

171,059

 

 

 

8/30/2012

 

300

Odessa

 

TX

 

 

 

299,235

 

687,360

 

None

 

None

 

299,235

 

687,360

 

986,595

 

147,782

 

 

 

8/30/2012

 

300

Onalaska

 

TX

 

 

 

455,522

 

845,970

 

None

 

None

 

455,522

 

845,970

 

1,301,492

 

170,604

 

 

 

12/14/2012

 

300

Orange

 

TX

 

 

 

359,323

 

1,413,577

 

None

 

None

 

359,323

 

1,413,577

 

1,772,900

 

247,376

 

 

 

8/22/2013

 

300

Orange

 

TX

 

 

 

267,166

 

1,051,034

 

None

 

None

 

267,166

 

1,051,034

 

1,318,200

 

183,931

 

 

 

8/22/2013

 

300

Paris

 

TX

 

 

 

194,054

 

844,235

 

None

 

None

 

194,054

 

844,235

 

1,038,289

 

181,511

 

 

 

8/30/2012

 

300

Pasadena

 

TX

 

 

 

274,400

 

1,079,491

 

None

 

None

 

274,400

 

1,079,491

 

1,353,891

 

196,107

 

 

 

6/21/2013

 

300

Pearsall

 

TX

 

 

 

314,465

 

584,006

 

None

 

None

 

314,465

 

584,006

 

898,471

 

129,455

 

 

 

6/1/2012

 

300

Pearsall

 

TX

 

 

 

179,547

 

938,079

 

None

 

None

 

179,547

 

938,079

 

1,117,626

 

148,529

 

 

 

1/24/2014

 

300

Perryton

 

TX

 

 

 

534,489

 

992,623

 

None

 

None

 

534,489

 

992,623

 

1,527,112

 

200,179

 

 

 

12/14/2012

 

300

Pharr

 

TX

 

 

 

506,911

 

941,407

 

None

 

None

 

506,911

 

941,407

 

1,448,318

 

208,679

 

 

 

6/1/2012

 

300

Pinehurst

 

TX

 

 

 

556,823

 

861,686

 

None

 

None

 

556,823

 

861,686

 

1,418,509

 

179,518

 

 

 

10/31/2012

 

300

Pineland

 

TX

 

703,000

 

149,928

 

1,092,708

 

None

 

None

 

149,928

 

1,092,708

 

1,242,636

 

162,085

 

 

 

4/1/2014

 

300

Pittsburg

 

TX

 

 

 

469,724

 

872,344

 

None

 

None

 

469,724

 

872,344

 

1,342,068

 

193,370

 

 

 

6/1/2012

 

300

Port Acres

 

TX

 

 

 

268,899

 

499,384

 

None

 

None

 

268,899

 

499,384

 

768,283

 

110,697

 

 

 

6/1/2012

 

300

Port Arthur

 

TX

 

 

 

253,535

 

828,487

 

None

 

None

 

253,535

 

828,487

 

1,082,022

 

178,125

 

 

 

8/30/2012

 

300

Port Neches

 

TX

 

 

 

498,469

 

925,729

 

None

 

None

 

498,469

 

925,729

 

1,424,198

 

186,689

 

 

 

12/14/2012

 

300

Porter

 

TX

 

 

 

559,462

 

1,039,001

 

None

 

None

 

559,462

 

1,039,001

 

1,598,463

 

209,532

 

 

 

12/14/2012

 

300

Progresso

 

TX

 

 

 

200,597

 

372,537

 

None

 

None

 

200,597

 

372,537

 

573,134

 

75,128

 

 

 

12/14/2012

 

300

Rio Grande City

 

TX

 

 

 

171,514

 

896,112

 

None

 

None

 

171,514

 

896,112

 

1,067,626

 

141,884

 

 

 

1/24/2014

 

300

Rio Vista

 

TX

 

 

 

61,254

 

829,871

 

None

 

None

 

61,254

 

829,871

 

891,125

 

178,422

 

 

 

8/30/2012

 

300

Rockdale

 

TX

 

592,000

 

174,972

 

845,963

 

None

 

None

 

174,972

 

845,963

 

1,020,935

 

125,485

 

 

 

4/1/2014

 

300

Rosenberg

 

TX

 

 

 

408,933

 

759,448

 

None

 

None

 

408,933

 

759,448

 

1,168,381

 

168,344

 

 

 

6/1/2012

 

300

Rusk

 

TX

 

 

 

446,174

 

828,610

 

None

 

None

 

446,174

 

828,610

 

1,274,784

 

167,103

 

 

 

12/14/2012

 

300

Saginaw

 

TX

 

 

 

485,162

 

901,016

 

None

 

None

 

485,162

 

901,016

 

1,386,178

 

199,725

 

 

 

6/1/2012

 

300

San Angelo

 

TX

 

 

 

308,573

 

1,000,504

 

None

 

None

 

308,573

 

1,000,504

 

1,309,077

 

215,108

 

 

 

8/30/2012

 

300

San Antonio

 

TX

 

 

 

663,903

 

1,232,962

 

None

 

None

 

663,903

 

1,232,962

 

1,896,865

 

273,307

 

 

 

6/1/2012

 

300

San Antonio

 

TX

 

 

 

474,828

 

881,824

 

None

 

None

 

474,828

 

881,824

 

1,356,652

 

195,471

 

 

 

6/1/2012

 

300

San Antonio

 

TX

 

 

 

357,827

 

664,536

 

None

 

None

 

357,827

 

664,536

 

1,022,363

 

147,305

 

 

 

6/1/2012

 

300

San Antonio

 

TX

 

 

 

637,451

 

1,183,837

 

None

 

None

 

637,451

 

1,183,837

 

1,821,288

 

262,417

 

 

 

6/1/2012

 

300

San Antonio

 

TX

 

 

 

265,044

 

818,313

 

None

 

None

 

265,044

 

818,313

 

1,083,357

 

175,937

 

 

 

8/30/2012

 

300

San Antonio

 

TX

 

 

 

273,109

 

896,601

 

None

 

None

 

273,109

 

896,601

 

1,169,710

 

192,769

 

 

 

8/30/2012

 

300

San Antonio

 

TX

 

 

 

408,997

 

1,329,239

 

None

 

None

 

408,997

 

1,329,239

 

1,738,236

 

263,632

 

 

 

1/22/2013

 

300

San Antonio

 

TX

 

 

 

325,537

 

1,280,663

 

None

 

None

 

325,537

 

1,280,663

 

1,606,200

 

224,116

 

 

 

8/22/2013

 

300

San Augustine

 

TX

 

 

 

468,018

 

869,176

 

None

 

None

 

468,018

 

869,176

 

1,337,194

 

175,284

 

 

 

12/14/2012

 

300

San Benito

 

TX

 

 

 

149,582

 

781,526

 

None

 

None

 

149,582

 

781,526

 

931,108

 

123,742

 

 

 

1/24/2014

 

300

Santa Fe

 

TX

 

 

 

450,685

 

1,115,790

 

None

 

None

 

450,685

 

1,115,790

 

1,566,475

 

176,667

 

 

 

1/24/2014

 

300

Schertz

 

TX

 

 

 

300,878

 

558,773

 

None

 

None

 

300,878

 

558,773

 

859,651

 

123,861

 

 

 

6/1/2012

 

300

Sealy

 

TX

 

723,000

 

213,880

 

1,034,081

 

None

 

None

 

213,880

 

1,034,081

 

1,247,961

 

153,389

 

 

 

4/1/2014

 

300

Seminole

 

TX

 

 

 

103,470

 

899,122

 

None

 

None

 

103,470

 

899,122

 

1,002,592

 

193,311

 

 

 

8/30/2012

 

300

Seminole

 

TX

 

 

 

364,491

 

1,433,909

 

None

 

None

 

364,491

 

1,433,909

 

1,798,400

 

250,934

 

 

 

8/22/2013

 

300

Sherman

 

TX

 

 

 

242,135

 

449,678

 

None

 

None

 

242,135

 

449,678

 

691,813

 

99,679

 

 

 

6/1/2012

 

300

Sullivan City

 

TX

 

 

 

496,544

 

922,154

 

None

 

None

 

496,544

 

922,154

 

1,418,698

 

185,968

 

 

 

12/14/2012

 

300

Taft

 

TX

 

 

 

177,408

 

926,908

 

None

 

None

 

177,408

 

926,908

 

1,104,316

 

146,760

 

 

 

1/24/2014

 

300

Temple

 

TX

 

 

 

248,015

 

805,588

 

None

 

None

 

248,015

 

805,588

 

1,053,603

 

173,201

 

 

 

8/30/2012

 

300

Temple

 

TX

 

 

 

580,869

 

1,078,758

 

None

 

None

 

580,869

 

1,078,758

 

1,659,627

 

217,549

 

 

 

12/14/2012

 

300

Texas City

 

TX

 

 

 

238,472

 

973,286

 

None

 

None

 

238,472

 

973,286

 

1,211,758

 

209,256

 

 

 

8/30/2012

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Rivers

 

TX

 

 

 

225,995

 

1,068,797

 

None

 

None

 

225,995

 

1,068,797

 

1,294,792

 

169,226

 

 

 

1/24/2014

 

300

Valley View

 

TX

 

 

 

185,843

 

878,905

 

None

 

None

 

185,843

 

878,905

 

1,064,748

 

139,160

 

 

 

1/24/2014

 

300

Van Horn

 

TX

 

707,000

 

147,318

 

1,073,686

 

None

 

None

 

147,318

 

1,073,686

 

1,221,004

 

159,263

 

 

 

4/1/2014

 

300

Waco

 

TX

 

 

 

527,779

 

980,161

 

None

 

None

 

527,779

 

980,161

 

1,507,940

 

217,269

 

 

 

6/1/2012

 

300

Wells

 

TX

 

 

 

141,780

 

840,639

 

None

 

None

 

141,780

 

840,639

 

982,419

 

180,737

 

 

 

8/30/2012

 

300

Wichita Falls

 

TX

 

 

 

297,454

 

552,415

 

None

 

None

 

297,454

 

552,415

 

849,869

 

122,452

 

 

 

6/1/2012

 

300

Willis

 

TX

 

 

 

664,432

 

1,233,946

 

None

 

None

 

664,432

 

1,233,946

 

1,898,378

 

273,525

 

 

 

6/1/2012

 

300

Wills Point

 

TX

 

 

 

417,304

 

774,994

 

None

 

None

 

417,304

 

774,994

 

1,192,298

 

156,290

 

 

 

12/14/2012

 

300

Wilmer

 

TX

 

 

 

489,576

 

909,212

 

None

 

None

 

489,576

 

909,212

 

1,398,788

 

183,358

 

 

 

12/14/2012

 

300

Winnsboro

 

TX

 

 

 

446,940

 

830,031

 

None

 

None

 

446,940

 

830,031

 

1,276,971

 

167,389

 

 

 

12/14/2012

 

300

Winters

 

TX

 

 

 

50,842

 

811,377

 

None

 

None

 

50,842

 

811,377

 

862,219

 

174,446

 

 

 

8/30/2012

 

300

Zapata

 

TX

 

 

 

249,421

 

1,303,154

 

None

 

None

 

249,421

 

1,303,154

 

1,552,575

 

206,333

 

 

 

1/24/2014

 

300

Asherton

 

TX

 

 

 

167,546

 

923,762

 

None

 

None

 

167,546

 

923,762

 

1,091,308

 

1,540

 

 

 

12/28/2017

 

300

Iraan

 

TX

 

 

 

159,749

 

880,777

 

None

 

None

 

159,749

 

880,777

 

1,040,526

 

1,468

 

 

 

12/28/2017

 

300

Kanab

 

UT

 

 

 

563,114

 

1,045,783

 

None

 

None

 

563,114

 

1,045,783

 

1,608,897

 

231,815

 

 

 

6/1/2012

 

300

Mt Pleasant

 

UT

 

 

 

573,530

 

1,065,126

 

None

 

None

 

573,530

 

1,065,126

 

1,638,656

 

236,103

 

 

 

6/1/2012

 

300

Charlotte Ct Hous

 

VA

 

 

 

154,295

 

1,028,208

 

None

 

None

 

154,295

 

1,028,208

 

1,182,503

 

162,800

 

 

 

1/24/2014

 

300

Colonial Heights

 

VA

 

 

 

337,535

 

1,327,865

 

None

 

None

 

337,535

 

1,327,865

 

1,665,400

 

232,376

 

 

 

8/22/2013

 

300

Colonial Heights

 

VA

 

 

 

283,623

 

1,115,777

 

None

 

None

 

283,623

 

1,115,777

 

1,399,400

 

195,261

 

 

 

8/22/2013

 

300

Concord

 

VA

 

 

 

259,997

 

906,036

 

None

 

None

 

259,997

 

906,036

 

1,166,033

 

194,798

 

 

 

8/30/2012

 

300

Craigsville

 

VA

 

 

 

141,713

 

944,359

 

None

 

None

 

141,713

 

944,359

 

1,086,072

 

149,524

 

 

 

1/24/2014

 

300

Danville

 

VA

 

 

 

223,469

 

879,131

 

None

 

None

 

223,469

 

879,131

 

1,102,600

 

153,848

 

 

 

8/22/2013

 

300

Fancy Gap

 

VA

 

 

 

153,509

 

1,022,966

 

None

 

None

 

153,509

 

1,022,966

 

1,176,475

 

161,970

 

 

 

1/24/2014

 

300

Fork Union

 

VA

 

 

 

159,295

 

1,061,525

 

None

 

None

 

159,295

 

1,061,525

 

1,220,820

 

168,075

 

 

 

1/24/2014

 

300

Goshen

 

VA

 

 

 

80,157

 

831,602

 

None

 

None

 

80,157

 

831,602

 

911,759

 

178,794

 

 

 

8/30/2012

 

300

Madison Heights

 

VA

 

 

 

276,413

 

936,546

 

None

 

None

 

276,413

 

936,546

 

1,212,959

 

201,357

 

 

 

8/30/2012

 

300

Mineral

 

VA

 

 

 

202,879

 

1,059,984

 

None

 

None

 

202,879

 

1,059,984

 

1,262,863

 

167,831

 

 

 

1/24/2014

 

300

Onley

 

VA

 

 

 

313,433

 

582,089

 

None

 

None

 

313,433

 

582,089

 

895,522

 

117,388

 

 

 

12/14/2012

 

300

Portsmouth

 

VA

 

 

 

524,294

 

973,688

 

None

 

None

 

524,294

 

973,688

 

1,497,982

 

215,834

 

 

 

6/1/2012

 

300

Rich Creek

 

VA

 

 

 

194,447

 

940,122

 

7,500

 

None

 

194,447

 

947,622

 

1,142,069

 

142,913

 

 

 

3/25/2014

 

300

Richmond

 

VA

 

 

 

709,379

 

1,317,417

 

None

 

None

 

709,379

 

1,317,417

 

2,026,796

 

292,028

 

 

 

6/1/2012

 

300

Richmond

 

VA

 

 

 

344,912

 

1,356,888

 

None

 

None

 

344,912

 

1,356,888

 

1,701,800

 

237,455

 

 

 

8/22/2013

 

300

Roanoke

 

VA

 

 

 

591,344

 

1,098,210

 

None

 

None

 

591,344

 

1,098,210

 

1,689,554

 

243,437

 

 

 

6/1/2012

 

300

Roanoke

 

VA

 

 

 

655,795

 

1,217,906

 

None

 

None

 

655,795

 

1,217,906

 

1,873,701

 

245,611

 

 

 

12/14/2012

 

300

Roanoke

 

VA

 

 

 

478,904

 

889,394

 

None

 

None

 

478,904

 

889,394

 

1,368,298

 

179,361

 

 

 

12/14/2012

 

300

Shawsville

 

VA

 

 

 

334,624

 

1,066,596

 

None

 

None

 

334,624

 

1,066,596

 

1,401,220

 

229,318

 

 

 

8/30/2012

 

300

Shenandoah

 

VA

 

 

 

192,613

 

1,006,351

 

None

 

None

 

192,613

 

1,006,351

 

1,198,964

 

159,339

 

 

 

1/24/2014

 

300

Spotsylvania

 

VA

 

 

 

300,324

 

1,181,476

 

None

 

None

 

300,324

 

1,181,476

 

1,481,800

 

206,758

 

 

 

8/22/2013

 

300

Stanleytown

 

VA

 

 

 

359,846

 

668,286

 

None

 

None

 

359,846

 

668,286

 

1,028,132

 

134,771

 

 

 

12/14/2012

 

300

Stony Creek

 

VA

 

 

 

237,764

 

935,366

 

None

 

None

 

237,764

 

935,366

 

1,173,130

 

169,925

 

 

 

6/21/2013

 

300

Victoria

 

VA

 

 

 

194,099

 

914,642

 

None

 

None

 

194,099

 

914,642

 

1,108,741

 

196,648

 

 

 

8/30/2012

 

300

Eagle River

 

WI

 

 

 

208,955

 

388,060

 

None

 

None

 

208,955

 

388,060

 

597,015

 

78,259

 

 

 

12/14/2012

 

300

Milwaukee

 

WI

 

 

 

538,419

 

999,922

 

None

 

None

 

538,419

 

999,922

 

1,538,341

 

221,649

 

 

 

6/1/2012

 

300

Milwaukee

 

WI

 

 

 

120,000

 

664,289

 

32,249

 

None

 

120,000

 

696,538

 

816,538

 

111,903

 

 

 

3/14/2014

 

300

Milwaukee

 

WI

 

 

 

359,110

 

591,334

 

None

 

None

 

359,110

 

591,334

 

950,444

 

58,911

 

 

 

10/9/2015

 

266

Spooner

 

WI

 

 

 

564,022

 

1,047,470

 

None

 

None

 

564,022

 

1,047,470

 

1,611,492

 

232,189

 

 

 

6/1/2012

 

300

French Creek

 

WV

 

 

 

270,000

 

1,162,377

 

None

 

None

 

270,000

 

1,162,377

 

1,432,377

 

94,927

 

 

 

12/15/2015

 

300

Lewisburg

 

WV

 

 

 

290,000

 

1,063,577

 

None

 

None

 

290,000

 

1,063,577

 

1,353,577

 

86,859

 

 

 

12/15/2015

 

300

Mount Hope

 

WV

 

 

 

186,300

 

732,905

 

None

 

None

 

186,300

 

732,905

 

919,205

 

130,701

 

 

 

7/23/2013

 

300

Princeton

 

WV

 

 

 

280,344

 

911,119

 

8,500

 

None

 

280,344

 

919,619

 

1,199,963

 

186,492

 

 

 

1/22/2013

 

300

Rock

 

WV

 

 

 

332,222

 

1,079,721

 

None

 

None

 

332,222

 

1,079,721

 

1,411,943

 

214,145

 

 

 

1/22/2013

 

300

Shady Spring

 

WV

 

 

 

204,338

 

833,689

 

None

 

None

 

204,338

 

833,689

 

1,038,027

 

159,790

 

 

 

3/27/2013

 

300

Cheyenne

 

WY

 

 

 

521,603

 

968,690

 

None

 

None

 

521,603

 

968,690

 

1,490,293

 

214,726

 

 

 

6/1/2012

 

300

Cheyenne

 

WY

 

 

 

564,022

 

1,047,470

 

None

 

None

 

564,022

 

1,047,470

 

1,611,492

 

232,189

 

 

 

6/1/2012

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Drug stores

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Atmore

 

AL

 

 

 

1,689,229

 

4,025,584

 

None

 

None

 

1,689,229

 

4,025,584

 

5,714,813

 

436,105

 

 

 

4/29/2015

 

300

Auburn

 

AL

 

 

 

1,696,833

 

3,901,754

 

None

 

None

 

1,696,833

 

3,901,754

 

5,598,587

 

773,848

 

 

 

1/22/2013

 

300

Bessemer

 

AL

 

 

 

913,349

 

2,269,571

 

None

 

None

 

913,349

 

2,269,571

 

3,182,920

 

298,827

 

 

 

9/30/2014

 

300

Chelsea

 

AL

 

 

 

1,157,579

 

3,575,632

 

None

 

None

 

1,157,579

 

3,575,632

 

4,733,211

 

709,167

 

 

 

1/22/2013

 

300

Huntsville

 

AL

 

 

 

1,971,282

 

3,528,526

 

None

 

None

 

1,971,282

 

3,528,526

 

5,499,808

 

182,307

 

 

 

9/29/2016

 

300

Montgomery

 

AL

 

 

 

1,150,000

 

1,479,627

 

250

 

None

 

1,150,000

 

1,479,877

 

2,629,877

 

762,020

 

 

 

2/9/2005

 

300

Northport

 

AL

 

 

 

1,650,000

 

4,829,538

 

None

 

None

 

1,650,000

 

4,829,538

 

6,479,538

 

523,200

 

 

 

4/29/2015

 

300

Tuscaloosa

 

AL

 

 

 

2,000,550

 

4,371,497

 

None

 

None

 

2,000,550

 

4,371,497

 

6,372,047

 

473,579

 

 

 

4/29/2015

 

300

Monticello

 

AR

 

 

 

1,990,000

 

3,710,723

 

None

 

None

 

1,990,000

 

3,710,723

 

5,700,723

 

401,995

 

 

 

4/29/2015

 

300

Van Buren

 

AR

 

 

 

1,328,049

 

3,008,245

 

None

 

None

 

1,328,049

 

3,008,245

 

4,336,294

 

516,415

 

 

 

9/25/2013

 

300

Apache Junction

 

AZ

 

 

 

2,147,586

 

3,844,103

 

None

 

None

 

2,147,586

 

3,844,103

 

5,991,689

 

198,612

 

 

 

9/29/2016

 

300

Chandler

 

AZ

 

 

 

-     

 

3,540,215

 

None

 

None

 

-     

 

3,540,215

 

3,540,215

 

702,143

 

 

 

1/22/2013

 

300

Chandler

 

AZ

 

 

 

1,086,262

 

2,460,559

 

None

 

None

 

1,086,262

 

2,460,559

 

3,546,821

 

422,396

 

 

 

9/25/2013

 

300

El Mirage

 

AZ

 

 

 

1,179,770

 

2,672,369

 

None

 

None

 

1,179,770

 

2,672,369

 

3,852,139

 

458,757

 

 

 

9/25/2013

 

300

Mesa

 

AZ

 

 

 

1,347,649

 

3,790,620

 

None

 

None

 

1,347,649

 

3,790,620

 

5,138,269

 

688,629

 

 

 

6/14/2013

 

300

Mesa

 

AZ

 

 

 

1,545,555

 

4,347,285

 

None

 

None

 

1,545,555

 

4,347,285

 

5,892,840

 

789,757

 

 

 

6/14/2013

 

300

Phoenix

 

AZ

 

 

 

-     

 

3,381,632

 

None

 

None

 

-     

 

3,381,632

 

3,381,632

 

670,690

 

 

 

1/22/2013

 

300

Phoenix

 

AZ

 

 

 

1,562,759

 

4,395,676

 

None

 

None

 

1,562,759

 

4,395,676

 

5,958,435

 

798,548

 

 

 

6/14/2013

 

300

Surprise

 

AZ

 

 

 

1,358,528

 

3,821,220

 

None

 

None

 

1,358,528

 

3,821,220

 

5,179,748

 

694,188

 

 

 

6/14/2013

 

300

Tucson

 

AZ

 

 

 

959,875

 

2,350,208

 

138,093

 

None

 

959,875

 

2,488,301

 

3,448,176

 

506,814

 

 

 

8/10/2012

 

300

Bakersfield

 

CA

 

 

 

-     

 

3,501,678

 

None

 

None

 

-     

 

3,501,678

 

3,501,678

 

1,383,162

 

 

 

2/26/2008

 

300

Blythe

 

CA

 

 

 

-     

 

3,762,216

 

None

 

None

 

-     

 

3,762,216

 

3,762,216

 

307,248

 

 

 

12/4/2015

 

300

Clearlake

 

CA

 

 

 

780,000

 

4,571,338

 

None

 

None

 

780,000

 

4,571,338

 

5,351,338

 

373,326

 

 

 

12/4/2015

 

300

Encinitas

 

CA

 

 

 

-     

 

3,751,713

 

None

 

None

 

-     

 

3,751,713

 

3,751,713

 

1,481,926

 

 

 

2/26/2008

 

300

Indio

 

CA

 

 

 

2,205,539

 

4,096,524

 

None

 

None

 

2,205,539

 

4,096,524

 

6,302,063

 

1,618,126

 

 

 

2/21/2008

 

300

Pico Rivera

 

CA

 

 

 

-     

 

4,633,063

 

None

 

None

 

-     

 

4,633,063

 

4,633,063

 

918,891

 

 

 

1/22/2013

 

300

Sacramento

 

CA

 

 

 

1,490,000

 

3,473,583

 

None

 

None

 

1,490,000

 

3,473,583

 

4,963,583

 

1,001,550

 

 

 

10/22/2010

 

300

Salinas

 

CA

 

 

 

1,764,791

 

3,186,409

 

None

 

None

 

1,764,791

 

3,186,409

 

4,951,200

 

5,311

 

 

 

12/21/2017

 

300

Seal Beach

 

CA

 

 

 

-     

 

4,448,814

 

None

 

None

 

-     

 

4,448,814

 

4,448,814

 

363,320

 

 

 

12/4/2015

 

300

Tracy

 

CA

 

 

 

2,467,993

 

4,584,246

 

None

 

None

 

2,467,993

 

4,584,246

 

7,052,239

 

1,841,339

 

 

 

12/20/2007

 

300

Visalia

 

CA

 

 

 

-     

 

4,333,023

 

None

 

None

 

-     

 

4,333,023

 

4,333,023

 

859,383

 

 

 

1/22/2013

 

300

Colorado Springs

 

CO

 

 

 

1,025,000

 

1,645,371

 

36,980

 

79

 

1,025,000

 

1,682,430

 

2,707,430

 

883,769

 

 

 

2/9/2005

 

300

Colorado Springs

 

CO

 

 

 

1,547,023

 

3,504,257

 

151,037

 

None

 

1,547,023

 

3,655,294

 

5,202,317

 

622,370

 

 

 

8/29/2013

 

300

Fort Collins

 

CO

 

 

 

1,100,000

 

1,385,014

 

None

 

79

 

1,100,000

 

1,385,093

 

2,485,093

 

713,352

 

 

 

2/9/2005

 

300

Littleton

 

CO

 

 

 

1,498,300

 

3,393,892

 

306,173

 

None

 

1,498,300

 

3,700,065

 

5,198,365

 

617,799

 

 

 

8/29/2013

 

300

Montrose

 

CO

 

 

 

1,958,248

 

3,505,195

 

None

 

None

 

1,958,248

 

3,505,195

 

5,463,443

 

181,102

 

 

 

9/29/2016

 

300

Berlin

 

CT

 

 

 

1,532,460

 

3,786,614

 

None

 

None

 

1,532,460

 

3,786,614

 

5,319,074

 

574,303

 

 

 

3/31/2014

 

300

Branford

 

CT

 

 

 

1,760,000

 

3,849,409

 

None

 

None

 

1,760,000

 

3,849,409

 

5,609,409

 

583,827

 

 

 

3/31/2014

 

300

Millsboro

 

DE

 

 

 

900,000

 

4,039,490

 

None

 

None

 

900,000

 

4,039,490

 

4,939,490

 

329,892

 

 

 

12/4/2015

 

300

Delray Beach

 

FL

 

 

 

4,893,115

 

3,541,070

 

None

 

None

 

4,893,115

 

3,541,070

 

8,434,185

 

702,312

 

 

 

1/22/2013

 

300

Deltona

 

FL

 

 

 

849,162

 

2,388,495

 

134,664

 

140

 

849,162

 

2,523,299

 

3,372,461

 

445,134

 

 

 

6/4/2013

 

300

Gainesville

 

FL

 

 

 

1,935,853

 

3,620,924

 

None

 

None

 

1,935,853

 

3,620,924

 

5,556,777

 

718,150

 

 

 

1/22/2013

 

300

Jacksonville

 

FL

 

 

 

1,605,187

 

3,691,020

 

None

 

None

 

1,605,187

 

3,691,020

 

5,296,207

 

732,052

 

 

 

1/22/2013

 

300

Milton

 

FL

 

 

 

500,000

 

1,774,311

 

None

 

None

 

500,000

 

1,774,311

 

2,274,311

 

511,593

 

 

 

10/22/2010

 

300

Orlando

 

FL

 

 

 

960,194

 

2,372,580

 

14,576

 

None

 

960,194

 

2,387,156

 

3,347,350

 

390,491

 

 

 

12/10/2013

 

300

Rockledge

 

FL

 

 

 

1,626,972

 

4,576,292

 

8,858

 

None

 

1,626,972

 

4,585,150

 

6,212,122

 

833,009

 

 

 

6/7/2013

 

300

Saint Augustine

 

FL

 

 

 

1,442,096

 

4,056,278

 

None

 

None

 

1,442,096

 

4,056,278

 

5,498,374

 

736,891

 

 

 

6/11/2013

 

300

Winter Park

 

FL

 

 

 

1,075,020

 

1,664,284

 

None

 

None

 

1,075,020

 

1,664,284

 

2,739,304

 

1,284,300

 

 

 

9/30/1998

 

300

Acworth

 

GA

 

 

 

1,534,095

 

3,527,548

 

None

 

None

 

1,534,095

 

3,527,548

 

5,061,643

 

699,630

 

 

 

1/22/2013

 

300

Adel

 

GA

 

 

 

500,000

 

1,056,116

 

48,524

 

None

 

500,000

 

1,104,640

 

1,604,640

 

549,928

 

 

 

4/29/2005

 

300

Austell

 

GA

 

 

 

1,234,384

 

3,610,300

 

None

 

None

 

1,234,384

 

3,610,300

 

4,844,684

 

716,043

 

 

 

1/22/2013

 

300

Blackshear

 

GA

 

 

 

430,000

 

1,005,393

 

46,950

 

None

 

430,000

 

1,052,343

 

1,482,343

 

516,429

 

 

 

4/29/2005

 

300

Bowdon

 

GA

 

 

 

410,000

 

1,010,615

 

68,692

 

None

 

410,000

 

1,079,307

 

1,489,307

 

514,694

 

 

 

4/29/2005

 

300

Cairo

 

GA

 

 

 

330,000

 

1,152,243

 

54,608

 

None

 

330,000

 

1,206,851

 

1,536,851

 

591,076

 

 

 

4/29/2005

 

300

Columbus

 

GA

 

 

 

1,740,000

 

5,024,581

 

1,175

 

None

 

1,740,000

 

5,025,756

 

6,765,756

 

913,412

 

 

 

6/14/2013

 

300

Decatur

 

GA

 

 

 

1,546,047

 

3,555,032

 

64,645

 

None

 

1,546,047

 

3,619,677

 

5,165,724

 

725,132

 

 

 

1/22/2013

 

300

East Ellijay

 

GA

 

 

 

1,317,709

 

3,029,984

 

None

 

None

 

1,317,709

 

3,029,984

 

4,347,693

 

600,947

 

 

 

1/22/2013

 

300

Lawrenceville

 

GA

 

 

 

1,109,742

 

3,121,445

 

71,737

 

None

 

1,109,742

 

3,193,182

 

4,302,924

 

579,633

 

 

 

6/28/2013

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lithia Springs

 

GA

 

 

 

1,543,512

 

3,549,202

 

None

 

None

 

1,543,512

 

3,549,202

 

5,092,714

 

703,925

 

 

 

1/22/2013

 

300

Quitman

 

GA

 

 

 

730,000

 

856,586

 

None

 

None

 

730,000

 

856,586

 

1,586,586

 

441,133

 

 

 

2/9/2005

 

300

Rome

 

GA

 

 

 

-     

 

3,389,465

 

None

 

None

 

-     

 

3,389,465

 

3,389,465

 

672,244

 

 

 

1/22/2013

 

300

Rome

 

GA

 

 

 

1,293,890

 

3,639,408

 

None

 

None

 

1,293,890

 

3,639,408

 

4,933,298

 

661,159

 

 

 

6/12/2013

 

300

Altoona

 

IA

 

 

 

1,440,000

 

3,440,755

 

None

 

None

 

1,440,000

 

3,440,755

 

4,880,755

 

177,772

 

 

 

9/29/2016

 

300

Iowa City

 

IA

 

 

 

1,892,972

 

3,388,354

 

None

 

None

 

1,892,972

 

3,388,354

 

5,281,326

 

175,065

 

 

 

9/29/2016

 

300

Ottumwa

 

IA

 

 

 

1,687,561

 

3,880,433

 

None

 

None

 

1,687,561

 

3,880,433

 

5,567,994

 

769,619

 

 

 

1/22/2013

 

300

Waterloo

 

IA

 

 

 

1,760,000

 

4,023,600

 

None

 

None

 

1,760,000

 

4,023,600

 

5,783,600

 

435,890

 

 

 

4/29/2015

 

300

Blackfoot

 

ID

 

 

 

560,000

 

1,932,186

 

60,641

 

None

 

560,000

 

1,992,827

 

2,552,827

 

998,984

 

 

 

2/9/2005

 

300

Burley

 

ID

 

 

 

700,000

 

2,011,543

 

62,154

 

None

 

700,000

 

2,073,697

 

2,773,697

 

1,039,950

 

 

 

2/9/2005

 

300

Chubbuck

 

ID

 

 

 

890,000

 

1,267,183

 

52,044

 

None

 

890,000

 

1,319,227

 

2,209,227

 

655,735

 

 

 

2/9/2005

 

300

Calumet City

 

IL

 

 

 

874,998

 

1,579,848

 

None

 

None

 

874,998

 

1,579,848

 

2,454,846

 

2,633

 

 

 

12/27/2017

 

300

Chicago

 

IL

 

 

 

1,589,068

 

2,841,507

 

171,423

 

None

 

1,589,068

 

3,012,930

 

4,601,998

 

670,991

 

 

 

6/29/2012

 

300

Chicago

 

IL

 

 

 

1,462,870

 

3,735,267

 

None

 

None

 

1,462,870

 

3,735,267

 

5,198,137

 

740,828

 

 

 

1/22/2013

 

300

Chicago

 

IL

 

 

 

1,744,950

 

3,952,594

 

54,218

 

None

 

1,744,950

 

4,006,812

 

5,751,762

 

681,564

 

 

 

9/3/2013

 

300

Chicago

 

IL

 

 

 

1,584,794

 

4,502,544

 

None

 

None

 

1,584,794

 

4,502,544

 

6,087,338

 

742,920

 

 

 

11/12/2013

 

300

Chicago Heights

 

IL

 

 

 

1,272,921

 

3,580,429

 

40,798

 

None

 

1,272,921

 

3,621,227

 

4,894,148

 

652,725

 

 

 

6/4/2013

 

300

Darien

 

IL

 

 

 

1,198,099

 

3,369,971

 

34,303

 

None

 

1,198,099

 

3,404,274

 

4,602,373

 

625,345

 

 

 

5/31/2013

 

300

Deerfield

 

IL

 

 

 

4,092,687

 

11,511,770

 

None

 

None

 

4,092,687

 

11,511,770

 

15,604,457

 

1,438,971

 

 

 

8/27/2013

 

420

Deerfield

 

IL

 

 

 

4,261,874

 

11,987,653

 

None

 

None

 

4,261,874

 

11,987,653

 

16,249,527

 

1,498,457

 

 

 

8/27/2013

 

420

Deerfield

 

IL

 

 

 

4,082,432

 

11,482,923

 

None

 

None

 

4,082,432

 

11,482,923

 

15,565,355

 

1,435,365

 

 

 

8/27/2013

 

420

Deerfield

 

IL

 

 

 

4,089,453

 

11,502,673

 

None

 

None

 

4,089,453

 

11,502,673

 

15,592,126

 

1,437,834

 

 

 

8/27/2013

 

420

Deerfield

 

IL

 

 

 

2,586,157

 

7,274,253

 

None

 

None

 

2,586,157

 

7,274,253

 

9,860,410

 

909,282

 

 

 

8/27/2013

 

420

Deerfield

 

IL

 

 

 

3,180,926

 

8,947,200

 

None

 

None

 

3,180,926

 

8,947,200

 

12,128,126

 

1,118,400

 

 

 

8/27/2013

 

420

Dolton

 

IL

 

 

 

1,860,000

 

4,204,975

 

None

 

None

 

1,860,000

 

4,204,975

 

6,064,975

 

259,307

 

 

 

6/30/2016

 

300

East Peoria

 

IL

 

 

 

1,217,434

 

2,532,652

 

None

 

None

 

1,217,434

 

2,532,652

 

3,750,086

 

156,180

 

 

 

6/30/2016

 

300

Maryville

 

IL

 

 

 

780,685

 

2,344,436

 

None

 

None

 

780,685

 

2,344,436

 

3,125,121

 

636,905

 

 

 

3/16/2011

 

300

Moline

 

IL

 

 

 

1,104,813

 

3,748,707

 

None

 

None

 

1,104,813

 

3,748,707

 

4,853,520

 

743,494

 

 

 

1/22/2013

 

300

Oak Forest

 

IL

 

 

 

1,562,490

 

4,394,918

 

None

 

None

 

1,562,490

 

4,394,918

 

5,957,408

 

798,410

 

 

 

6/6/2013

 

300

Pekin

 

IL

 

 

 

897,200

 

1,866,462

 

None

 

None

 

897,200

 

1,866,462

 

2,763,662

 

115,098

 

 

 

6/30/2016

 

300

Peoria

 

IL

 

 

 

867,025

 

1,803,689

 

None

 

None

 

867,025

 

1,803,689

 

2,670,714

 

111,227

 

 

 

6/30/2016

 

300

Plainfield

 

IL

 

 

 

1,463,785

 

3,365,876

 

None

 

None

 

1,463,785

 

3,365,876

 

4,829,661

 

667,565

 

 

 

1/22/2013

 

300

Springfield

 

IL

 

 

 

1,343,188

 

3,778,072

 

82,178

 

None

 

1,343,188

 

3,860,250

 

5,203,438

 

695,081

 

 

 

6/7/2013

 

300

Springfield

 

IL

 

 

 

1,227,859

 

3,453,680

 

None

 

None

 

1,227,859

 

3,453,680

 

4,681,539

 

627,418

 

 

 

6/11/2013

 

300

Troy

 

IL

 

 

 

768,515

 

1,991,358

 

None

 

None

 

768,515

 

1,991,358

 

2,759,873

 

540,986

 

 

 

3/16/2011

 

300

Rolling Meadows

 

IL

 

 

 

1,444,292

 

2,607,733

 

None

 

None

 

1,444,292

 

2,607,733

 

4,052,025

 

4,346

 

 

 

12/27/2017

 

300

Anderson

 

IN

 

 

 

937,591

 

2,123,795

 

375

 

None

 

937,591

 

2,124,170

 

3,061,761

 

364,591

 

 

 

9/11/2013

 

300

Aurora

 

IN

 

 

 

980,000

 

2,521,122

 

375

 

None

 

980,000

 

2,521,497

 

3,501,497

 

197,493

 

 

 

1/5/2016

 

300

Chesterton

 

IN

 

 

 

616,498

 

4,930,886

 

None

 

None

 

616,498

 

4,930,886

 

5,547,384

 

977,959

 

 

 

1/22/2013

 

300

Elkhart

 

IN

 

 

 

1,772,161

 

4,074,966

 

None

 

None

 

1,772,161

 

4,074,966

 

5,847,127

 

808,202

 

 

 

1/22/2013

 

300

Fort Wayne

 

IN

 

 

 

1,814,885

 

3,965,792

 

None

 

None

 

1,814,885

 

3,965,792

 

5,780,677

 

429,627

 

 

 

4/29/2015

 

300

Fort Wayne

 

IN

 

 

 

1,163,111

 

2,419,644

 

375

 

None

 

1,163,111

 

2,420,019

 

3,583,130

 

149,218

 

 

 

6/30/2016

 

300

Fort Wayne

 

IN

 

 

 

1,319,890

 

2,745,793

 

None

 

None

 

1,319,890

 

2,745,793

 

4,065,683

 

169,324

 

 

 

6/30/2016

 

300

Fort Wayne

 

IN

 

 

 

1,710,000

 

3,014,685

 

None

 

None

 

1,710,000

 

3,014,685

 

4,724,685

 

155,759

 

 

 

9/29/2016

 

300

Hammond

 

IN

 

 

 

667,821

 

2,656,839

 

375

 

50

 

667,821

 

2,657,264

 

3,325,085

 

606,674

 

 

 

4/12/2012

 

300

Indianapolis

 

IN

 

 

 

1,630,000

 

5,235,915

 

None

 

None

 

1,630,000

 

5,235,915

 

6,865,915

 

951,191

 

 

 

6/4/2013

 

300

Indianapolis

 

IN

 

 

 

1,123,685

 

3,160,662

 

None

 

None

 

1,123,685

 

3,160,662

 

4,284,347

 

574,187

 

 

 

6/28/2013

 

300

Kokomo

 

IN

 

 

 

978,592

 

2,216,668

 

128,344

 

None

 

978,592

 

2,345,012

 

3,323,604

 

395,583

 

 

 

9/11/2013

 

300

La Porte

 

IN

 

 

 

1,765,195

 

3,959,682

 

None

 

None

 

1,765,195

 

3,959,682

 

5,724,877

 

428,966

 

 

 

4/29/2015

 

300

Logansport

 

IN

 

 

 

903,696

 

2,245,585

 

76,549

 

None

 

903,696

 

2,322,134

 

3,225,830

 

283,762

 

 

 

12/30/2014

 

300

Marion

 

IN

 

 

 

1,247,236

 

3,508,184

 

None

 

None

 

1,247,236

 

3,508,184

 

4,755,420

 

637,320

 

 

 

6/27/2013

 

300

Monticello

 

IN

 

 

 

694,032

 

1,952,148

 

175,768

 

None

 

694,032

 

2,127,916

 

2,821,948

 

396,745

 

 

 

6/7/2013

 

300

Monticello

 

IN

 

 

 

1,430,000

 

4,425,257

 

None

 

None

 

1,430,000

 

4,425,257

 

5,855,257

 

479,403

 

 

 

4/29/2015

 

300

New Haven

 

IN

 

 

 

1,140,000

 

2,764,616

 

None

 

None

 

1,140,000

 

2,764,616

 

3,904,616

 

170,485

 

 

 

6/30/2016

 

300

Princeton

 

IN

 

 

 

2,033,742

 

4,676,454

 

None

 

None

 

2,033,742

 

4,676,454

 

6,710,196

 

927,497

 

 

 

1/22/2013

 

300

Salem

 

IN

 

 

 

-     

 

2,351,296

 

None

 

None

 

-     

 

2,351,296

 

2,351,296

 

1,069,840

 

 

 

8/16/2006

 

300

South Bend

 

IN

 

 

 

1,665,544

 

4,684,786

 

None

 

14

 

1,665,544

 

4,684,800

 

6,350,344

 

851,076

 

 

 

6/4/2013

 

300

Emporia

 

KS

 

 

 

2,035,321

 

4,447,479

 

None

 

None

 

2,035,321

 

4,447,479

 

6,482,800

 

481,810

 

 

 

4/29/2015

 

300

Hutchinson

 

KS

 

 

 

1,456,992

 

3,620,465

 

None

 

None

 

1,456,992

 

3,620,465

 

5,077,457

 

440,490

 

 

 

12/23/2014

 

300

Kansas City

 

KS

 

 

 

1,290,000

 

5,192,800

 

None

 

None

 

1,290,000

 

5,192,800

 

6,482,800

 

562,553

 

 

 

4/29/2015

 

300

Liberal

 

KS

 

 

 

2,000,000

 

3,595,400

 

None

 

None

 

2,000,000

 

3,595,400

 

5,595,400

 

185,762

 

 

 

9/29/2016

 

300

Merriam

 

KS

 

 

 

1,441,117

 

4,053,526

 

None

 

None

 

1,441,117

 

4,053,526

 

5,494,643

 

736,390

 

 

 

6/4/2013

 

300

Newton

 

KS

 

 

 

1,340,000

 

3,335,460

 

None

 

None

 

1,340,000

 

3,335,460

 

4,675,460

 

405,814

 

 

 

12/23/2014

 

300

Parsons

 

KS

 

 

 

2,090,000

 

4,248,446

 

None

 

None

 

2,090,000

 

4,248,446

 

6,338,446

 

460,248

 

 

 

4/29/2015

 

300

Lebanon

 

KY

 

 

 

1,718,716

 

4,095,853

 

None

 

None

 

1,718,716

 

4,095,853

 

5,814,569

 

443,717

 

 

 

4/29/2015

 

300

Louisville

 

KY

 

 

 

2,386,891

 

4,017,753

 

None

 

None

 

2,386,891

 

4,017,753

 

6,404,644

 

796,854

 

 

 

1/22/2013

 

300

Louisville

 

KY

 

 

 

1,785,691

 

4,106,077

 

None

 

None

 

1,785,691

 

4,106,077

 

5,891,768

 

814,372

 

 

 

1/22/2013

 

300

Louisville

 

KY

 

 

 

1,565,241

 

3,947,885

 

None

 

None

 

1,565,241

 

3,947,885

 

5,513,126

 

782,997

 

 

 

1/22/2013

 

300

Louisville

 

KY

 

 

 

2,540,000

 

3,918,593

 

None

 

None

 

2,540,000

 

3,918,593

 

6,458,593

 

424,514

 

 

 

4/29/2015

 

300

Mayfield

 

KY

 

 

 

1,782,381

 

4,098,467

 

None

 

None

 

1,782,381

 

4,098,467

 

5,880,848

 

812,863

 

 

 

1/22/2013

 

300

Paducah

 

KY

 

 

 

1,792,850

 

4,021,718

 

None

 

None

 

1,792,850

 

4,021,718

 

5,814,568

 

435,686

 

 

 

4/29/2015

 

300

Radcliff

 

KY

 

 

 

1,305,607

 

3,960,699

 

None

 

None

 

1,305,607

 

3,960,699

 

5,266,306

 

785,539

 

 

 

1/22/2013

 

300

Amite

 

LA

 

 

 

1,633,328

 

3,755,728

 

None

 

None

 

1,633,328

 

3,755,728

 

5,389,056

 

744,886

 

 

 

1/22/2013

 

300

Gretna

 

LA

 

 

 

3,570,000

 

5,037,780

 

None

 

None

 

3,570,000

 

5,037,780

 

8,607,780

 

663,308

 

 

 

9/30/2014

 

300

Morgan City

 

LA

 

 

 

1,378,894

 

3,170,675

 

None

 

None

 

1,378,894

 

3,170,675

 

4,549,569

 

628,851

 

 

 

1/22/2013

 

300

Pineville

 

LA

 

 

 

1,527,708

 

3,593,739

 

None

 

None

 

1,527,708

 

3,593,739

 

5,121,447

 

425,259

 

 

 

1/7/2015

 

300

Brockton

 

MA

 

 

 

1,420,000

 

5,586,439

 

None

 

None

 

1,420,000

 

5,586,439

 

7,006,439

 

847,277

 

 

 

3/31/2014

 

300

Melrose

 

MA

 

 

 

2,450,000

 

5,344,307

 

None

 

None

 

2,450,000

 

5,344,307

 

7,794,307

 

810,553

 

 

 

3/31/2014

 

300

Baltimore

 

MD

 

 

 

-     

 

3,545,162

 

None

 

None

 

-     

 

3,545,162

 

3,545,162

 

289,522

 

 

 

12/4/2015

 

300

Elkton

 

MD

 

 

 

1,751,013

 

3,252,546

 

None

 

None

 

1,751,013

 

3,252,546

 

5,003,559

 

1,284,754

 

 

 

2/21/2008

 

300

Laurel

 

MD

 

 

 

-     

 

2,400,696

 

None

 

None

 

-     

 

2,400,696

 

2,400,696

 

1,092,317

 

 

 

8/16/2006

 

300

Biddeford

 

ME

 

 

 

-     

 

3,587,125

 

None

 

None

 

-     

 

3,587,125

 

3,587,125

 

711,447

 

 

 

1/22/2013

 

300

Brewer

 

ME

 

 

 

2,030,000

 

4,935,503

 

None

 

None

 

2,030,000

 

4,935,503

 

6,965,503

 

896,616

 

 

 

6/6/2013

 

300

Farmington

 

ME

 

 

 

1,310,995

 

3,687,522

 

None

 

None

 

1,310,995

 

3,687,522

 

4,998,517

 

669,900

 

 

 

6/12/2013

 

300

Lisbon

 

ME

 

 

 

1,403,949

 

3,948,979

 

None

 

None

 

1,403,949

 

3,948,979

 

5,352,928

 

717,398

 

 

 

6/13/2013

 

300

Machias

 

ME

 

 

 

1,250,032

 

3,516,047

 

None

 

None

 

1,250,032

 

3,516,047

 

4,766,079

 

638,748

 

 

 

6/5/2013

 

300

Portland

 

ME

 

 

 

2,100,849

 

3,902,402

 

None

 

None

 

2,100,849

 

3,902,402

 

6,003,251

 

1,567,464

 

 

 

12/20/2007

 

300

Charlotte

 

MI

 

 

 

466,474

 

3,640,666

 

None

 

None

 

466,474

 

3,640,666

 

4,107,140

 

722,065

 

 

 

1/22/2013

 

300

Dearborn

 

MI

 

 

 

2,170,000

 

4,413,371

 

None

 

None

 

2,170,000

 

4,413,371

 

6,583,371

 

478,115

 

 

 

4/29/2015

 

300

Gladwin

 

MI

 

 

 

1,365,747

 

2,536,910

 

None

 

None

 

1,365,747

 

2,536,910

 

3,902,657

 

1,002,078

 

 

 

2/21/2008

 

300

Jackson

 

MI

 

 

 

2,140,000

 

4,436,052

 

None

 

None

 

2,140,000

 

4,436,052

 

6,576,052

 

343,266

 

 

 

4/29/2015

 

300

Macomb

 

MI

 

 

 

1,084,185

 

3,049,559

 

None

 

None

 

1,084,185

 

3,049,559

 

4,133,744

 

554,003

 

 

 

6/25/2013

 

300

Metamora

 

MI

 

 

 

859,139

 

2,291,557

 

None

 

None

 

859,139

 

2,291,557

 

3,150,696

 

1,042,659

 

 

 

8/16/2006

 

300

Mount Pleasant

 

MI

 

2,606,445

 

879,419

 

3,713,692

 

None

 

None

 

879,419

 

3,713,692

 

4,593,111

 

736,549

 

 

 

1/22/2013

 

300

Northville

 

MI

 

 

 

982,099

 

3,849,614

 

None

 

None

 

982,099

 

3,849,614

 

4,831,713

 

763,507

 

 

 

1/22/2013

 

300

Norton Shores

 

MI

 

 

 

2,046,387

 

4,471,658

 

None

 

None

 

2,046,387

 

4,471,658

 

6,518,045

 

484,430

 

 

 

4/29/2015

 

300

Port Huron

 

MI

 

 

 

1,908,747

 

4,281,697

 

None

 

None

 

1,908,747

 

4,281,697

 

6,190,444

 

463,851

 

 

 

4/29/2015

 

300

Portage

 

MI

 

 

 

1,640,000

 

4,489,124

 

None

 

None

 

1,640,000

 

4,489,124

 

6,129,124

 

486,322

 

 

 

4/29/2015

 

300

Rockwood

 

MI

 

 

 

972,962

 

2,736,715

 

57,643

 

None

 

972,962

 

2,794,358

 

3,767,320

 

503,260

 

 

 

6/25/2013

 

300

Royal Oak

 

MI

 

 

 

2,550,000

 

4,382,053

 

None

 

None

 

2,550,000

 

4,382,053

 

6,932,053

 

474,722

 

 

 

4/29/2015

 

300

Taylor

 

MI

 

 

 

2,092,605

 

4,572,653

 

None

 

None

 

2,092,605

 

4,572,653

 

6,665,258

 

495,371

 

 

 

4/29/2015

 

300

Troy

 

MI

 

 

 

3,184,828

 

-     

 

9,976

 

None

 

3,184,828

 

9,976

 

3,194,804

 

5,045

 

 

 

6/27/2013

 

120

Washington Townsh

 

MI

 

 

 

1,028,277

 

2,892,301

 

None

 

None

 

1,028,277

 

2,892,301

 

3,920,578

 

525,435

 

 

 

6/25/2013

 

300

Belleville

 

MI

 

 

 

919,400

 

1,660,017

 

None

 

None

 

919,400

 

1,660,017

 

2,579,417

 

2,767

 

 

 

12/27/2017

 

300

Brooklyn Park

 

MN

 

 

 

-     

 

4,106,753

 

None

 

None

 

-     

 

4,106,753

 

4,106,753

 

814,506

 

 

 

1/22/2013

 

300

Cloquet

 

MN

 

 

 

1,220,000

 

5,151,588

 

None

 

None

 

1,220,000

 

5,151,588

 

6,371,588

 

935,872

 

 

 

6/7/2013

 

300

Grand Rapids

 

MN

 

3,371,640

 

499,111

 

4,072,537

 

None

 

None

 

499,111

 

4,072,537

 

4,571,648

 

807,720

 

 

 

1/22/2013

 

300

Dellwood

 

MO

 

 

 

766,461

 

2,438,272

 

None

 

None

 

766,461

 

2,438,272

 

3,204,733

 

662,397

 

 

 

3/16/2011

 

300

Des Peres

 

MO

 

 

 

2,280,000

 

3,811,179

 

None

 

None

 

2,280,000

 

3,811,179

 

6,091,179

 

196,911

 

 

 

9/29/2016

 

300

Farmington

 

MO

 

 

 

1,580,000

 

5,184,052

 

None

 

None

 

1,580,000

 

5,184,052

 

6,764,052

 

941,769

 

 

 

6/27/2013

 

300

Harrisonville

 

MO

 

 

 

1,473,335

 

3,387,834

 

None

 

None

 

1,473,335

 

3,387,834

 

4,861,169

 

671,921

 

 

 

1/22/2013

 

300

Kansas City

 

MO

 

 

 

1,875,478

 

4,207,068

 

None

 

None

 

1,875,478

 

4,207,068

 

6,082,546

 

455,766

 

 

 

4/29/2015

 

300

Lees Summit

 

MO

 

 

 

2,005,545

 

3,589,855

 

None

 

None

 

2,005,545

 

3,589,855

 

5,595,400

 

185,476

 

 

 

9/29/2016

 

300

Rolla

 

MO

 

 

 

1,893,125

 

3,388,626

 

None

 

None

 

1,893,125

 

3,388,626

 

5,281,751

 

175,079

 

 

 

9/29/2016

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Saint Louis

 

MO

 

 

 

2,270,000

 

4,066,675

 

None

 

None

 

2,270,000

 

4,066,675

 

6,336,675

 

210,112

 

 

 

9/29/2016

 

300

St. John

 

MO

 

 

 

2,300,000

 

3,824,235

 

None

 

None

 

2,300,000

 

3,824,235

 

6,124,235

 

414,292

 

 

 

4/29/2015

 

300

St. Joseph

 

MO

 

 

 

1,293,855

 

3,639,311

 

None

 

None

 

1,293,855

 

3,639,311

 

4,933,166

 

661,141

 

 

 

6/7/2013

 

300

St. Louis

 

MO

 

 

 

744,817

 

2,300,087

 

None

 

None

 

744,817

 

2,300,087

 

3,044,904

 

624,857

 

 

 

3/16/2011

 

300

St. Louis

 

MO

 

 

 

1,117,749

 

3,143,966

 

None

 

None

 

1,117,749

 

3,143,966

 

4,261,715

 

571,154

 

 

 

6/14/2013

 

300

St. Louis

 

MO

 

 

 

2,190,000

 

5,109,166

 

None

 

None

 

2,190,000

 

5,109,166

 

7,299,166

 

928,165

 

 

 

6/27/2013

 

300

Wildwood

 

MO

 

 

 

681,200

 

2,649,759

 

12,946

 

None

 

681,200

 

2,662,705

 

3,343,905

 

720,687

 

 

 

3/16/2011

 

300

Byram

 

MS

 

 

 

1,243,088

 

3,425,993

 

None

 

None

 

1,243,088

 

3,425,993

 

4,669,081

 

679,489

 

 

 

1/22/2013

 

300

Flowood

 

MS

 

 

 

1,828,528

 

3,995,605

 

None

 

None

 

1,828,528

 

3,995,605

 

5,824,133

 

432,857

 

 

 

4/29/2015

 

300

Forest

 

MS

 

 

 

-     

 

2,991,069

 

None

 

None

 

-     

 

2,991,069

 

2,991,069

 

593,229

 

 

 

1/22/2013

 

300

Greenwood

 

MS

 

 

 

520,000

 

3,480,407

 

None

 

None

 

520,000

 

3,480,407

 

4,000,407

 

249,429

 

 

 

3/29/2016

 

300

Jackson

 

MS

 

 

 

1,749,695

 

4,347,797

 

None

 

None

 

1,749,695

 

4,347,797

 

6,097,492

 

572,460

 

 

 

9/30/2014

 

300

Philadelphia

 

MS

 

 

 

1,390,000

 

3,636,895

 

None

 

None

 

1,390,000

 

3,636,895

 

5,026,895

 

187,906

 

 

 

9/29/2016

 

300

Picayune

 

MS

 

 

 

1,721,543

 

4,102,591

 

None

 

None

 

1,721,543

 

4,102,591

 

5,824,134

 

444,447

 

 

 

4/29/2015

 

300

Kalispell

 

MT

 

 

 

1,890,000

 

3,629,051

 

None

 

None

 

1,890,000

 

3,629,051

 

5,519,051

 

393,147

 

 

 

4/29/2015

 

300

Asheville

 

NC

 

 

 

-     

 

3,118,366

 

None

 

None

 

-     

 

3,118,366

 

3,118,366

 

618,476

 

 

 

1/22/2013

 

300

Charlotte

 

NC

 

 

 

923,616

 

2,092,139

 

36,891

 

None

 

923,616

 

2,129,030

 

3,052,646

 

375,710

 

 

 

9/27/2013

 

300

Creedmoor

 

NC

 

 

 

1,280,821

 

2,945,163

 

None

 

None

 

1,280,821

 

2,945,163

 

4,225,984

 

584,124

 

 

 

1/22/2013

 

300

High Point

 

NC

 

 

 

1,573,851

 

4,426,874

 

None

 

None

 

1,573,851

 

4,426,874

 

6,000,725

 

804,215

 

 

 

6/11/2013

 

300

Holly Springs

 

NC

 

 

 

1,451,019

 

3,336,520

 

None

 

None

 

1,451,019

 

3,336,520

 

4,787,539

 

661,743

 

 

 

1/22/2013

 

300

Roanoke Rapids

 

NC

 

 

 

1,103,934

 

2,538,422

 

None

 

None

 

1,103,934

 

2,538,422

 

3,642,356

 

503,454

 

 

 

1/22/2013

 

300

Walkertown

 

NC

 

 

 

1,351,535

 

3,107,765

 

None

 

None

 

1,351,535

 

3,107,765

 

4,459,300

 

616,373

 

 

 

1/22/2013

 

300

Whiteville

 

NC

 

 

 

630,049

 

2,183,384

 

None

 

None

 

630,049

 

2,183,384

 

2,813,433

 

90,974

 

 

 

12/13/2016

 

300

Grand Island

 

NE

 

 

 

1,730,000

 

3,792,128

 

None

 

None

 

1,730,000

 

3,792,128

 

5,522,128

 

410,814

 

 

 

4/29/2015

 

300

Omaha

 

NE

 

 

 

1,782,721

 

3,895,510

 

None

 

None

 

1,782,721

 

3,895,510

 

5,678,231

 

422,014

 

 

 

4/29/2015

 

300

Omaha

 

NE

 

 

 

1,651,643

 

3,229,112

 

None

 

None

 

1,651,643

 

3,229,112

 

4,880,755

 

166,837

 

 

 

9/29/2016

 

300

South Sioux City

 

NE

 

 

 

1,789,238

 

3,202,672

 

None

 

None

 

1,789,238

 

3,202,672

 

4,991,910

 

165,471

 

 

 

9/29/2016

 

300

Derry

 

NH

 

 

 

1,210,000

 

4,443,660

 

None

 

None

 

1,210,000

 

4,443,660

 

5,653,660

 

673,955

 

 

 

3/31/2014

 

300

Dover

 

NH

 

 

 

1,844,188

 

4,556,875

 

None

 

None

 

1,844,188

 

4,556,875

 

6,401,063

 

691,126

 

 

 

3/31/2014

 

300

Plaistow

 

NH

 

 

 

940,000

 

4,421,512

 

None

 

None

 

940,000

 

4,421,512

 

5,361,512

 

803,241

 

 

 

6/14/2013

 

300

Carlstadt

 

NJ

 

 

 

2,630,000

 

4,733,522

 

None

 

None

 

2,630,000

 

4,733,522

 

7,363,522

 

623,247

 

 

 

9/30/2014

 

300

Jackson

 

NJ

 

 

 

1,060,000

 

3,040,000

 

None

 

None

 

1,060,000

 

3,040,000

 

4,100,000

 

248,267

 

 

 

12/4/2015

 

300

Ledgewood

 

NJ

 

 

 

2,060,000

 

5,490,100

 

None

 

None

 

2,060,000

 

5,490,100

 

7,550,100

 

832,665

 

 

 

3/31/2014

 

300

Mount Ephraim

 

NJ

 

 

 

2,410,000

 

5,039,976

 

None

 

None

 

2,410,000

 

5,039,976

 

7,449,976

 

764,396

 

 

 

3/31/2014

 

300

Sewell

 

NJ

 

 

 

1,510,000

 

4,969,996

 

None

 

None

 

1,510,000

 

4,969,996

 

6,479,996

 

753,783

 

 

 

3/31/2014

 

300

Hamilton Township

 

NJ

 

 

 

1,079,464

 

1,949,021

 

None

 

None

 

1,079,464

 

1,949,021

 

3,028,485

 

3,248

 

 

 

12/27/2017

 

300

Farmington

 

NM

 

 

 

1,652,630

 

4,106,603

 

None

 

None

 

1,652,630

 

4,106,603

 

5,759,233

 

540,703

 

 

 

9/30/2014

 

300

Carson City

 

NV

 

 

 

800,000

 

2,770,950

 

94,862

 

None

 

800,000

 

2,865,812

 

3,665,812

 

1,431,972

 

 

 

2/9/2005

 

300

Reno

 

NV

 

 

 

1,100,000

 

2,602,911

 

74,159

 

175

 

1,100,000

 

2,677,245

 

3,777,245

 

1,341,742

 

 

 

2/9/2005

 

300

Reno

 

NV

 

 

 

850,000

 

2,306,647

 

74,159

 

None

 

850,000

 

2,380,806

 

3,230,806

 

1,188,992

 

 

 

2/9/2005

 

300

Reno

 

NV

 

 

 

-     

 

3,951,105

 

None

 

None

 

-     

 

3,951,105

 

3,951,105

 

783,636

 

 

 

1/22/2013

 

300

Sparks

 

NV

 

 

 

1,000,000

 

2,271,513

 

None

 

None

 

1,000,000

 

2,271,513

 

3,271,513

 

1,169,820

 

 

 

2/9/2005

 

300

Sun Valley

 

NV

 

 

 

550,000

 

2,678,380

 

82,500

 

None

 

550,000

 

2,760,880

 

3,310,880

 

1,380,556

 

 

 

2/9/2005

 

300

Angola

 

NY

 

 

 

1,644,457

 

3,781,320

 

None

 

None

 

1,644,457

 

3,781,320

 

5,425,777

 

749,962

 

 

 

1/22/2013

 

300

Auburn

 

NY

 

 

 

1,319,171

 

4,557,735

 

None

 

None

 

1,319,171

 

4,557,735

 

5,876,906

 

903,951

 

 

 

1/22/2013

 

300

Brooklyn

 

NY

 

 

 

-     

 

3,169,829

 

None

 

None

 

-     

 

3,169,829

 

3,169,829

 

628,683

 

 

 

1/22/2013

 

300

Brooklyn

 

NY

 

 

 

6,286,888

 

3,091,053

 

None

 

None

 

6,286,888

 

3,091,053

 

9,377,941

 

613,059

 

 

 

1/22/2013

 

300

Cohoes

 

NY

 

 

 

993,687

 

2,284,916

 

48,650

 

None

 

993,687

 

2,333,566

 

3,327,253

 

454,493

 

 

 

1/22/2013

 

300

Flushing

 

NY

 

 

 

-     

 

2,844,843

 

None

 

None

 

-     

 

2,844,843

 

2,844,843

 

564,227

 

 

 

1/22/2013

 

300

Greece

 

NY

 

 

 

1,530,625

 

4,305,290

 

None

 

None

 

1,530,625

 

4,305,290

 

5,835,915

 

782,128

 

 

 

6/12/2013

 

300

Jamaica

 

NY

 

 

 

-     

 

3,265,890

 

None

 

None

 

-     

 

3,265,890

 

3,265,890

 

647,735

 

 

 

1/22/2013

 

300

Le Roy

 

NY

 

 

 

664,571

 

4,160,651

 

None

 

None

 

664,571

 

4,160,651

 

4,825,222

 

825,196

 

 

 

1/22/2013

 

300

Macedon

 

NY

 

 

 

1,010,000

 

2,650,110

 

None

 

None

 

1,010,000

 

2,650,110

 

3,660,110

 

216,426

 

 

 

12/29/2015

 

300

Olean

 

NY

 

 

 

940,000

 

2,626,150

 

None

 

None

 

940,000

 

2,626,150

 

3,566,150

 

188,207

 

 

 

3/30/2016

 

300

Ontario

 

NY

 

 

 

650,000

 

4,099,160

 

None

 

None

 

650,000

 

4,099,160

 

4,749,160

 

334,765

 

 

 

12/4/2015

 

300

Orchard Park

 

NY

 

 

 

715,690

 

4,719,148

 

None

 

None

 

715,690

 

4,719,148

 

5,434,838

 

935,964

 

 

 

1/22/2013

 

300

Patchogue

 

NY

 

 

 

1,717,702

 

5,188,982

 

None

 

None

 

1,717,702

 

5,188,982

 

6,906,684

 

1,029,148

 

 

 

1/22/2013

 

300

Penn Yan

 

NY

 

 

 

843,439

 

3,784,664

 

None

 

None

 

843,439

 

3,784,664

 

4,628,103

 

750,625

 

 

 

1/22/2013

 

300

Plattsburgh

 

NY

 

 

 

2,122,505

 

4,610,552

 

None

 

None

 

2,122,505

 

4,610,552

 

6,733,057

 

914,426

 

 

 

1/22/2013

 

300

Ridgewood

 

NY

 

 

 

6,872,644

 

3,221,483

 

None

 

None

 

6,872,644

 

3,221,483

 

10,094,127

 

638,928

 

 

 

1/22/2013

 

300

Rochester

 

NY

 

 

 

495,551

 

3,585,587

 

None

 

None

 

495,551

 

3,585,587

 

4,081,138

 

711,142

 

 

 

1/22/2013

 

300

Rochester

 

NY

 

 

 

-     

 

4,562,079

 

None

 

None

 

-     

 

4,562,079

 

4,562,079

 

904,812

 

 

 

1/22/2013

 

300

Saint Albans

 

NY

 

 

 

6,550,000

 

4,455,729

 

None

 

None

 

6,550,000

 

4,455,729

 

11,005,729

 

809,457

 

 

 

6/26/2013

 

300

Stony Point

 

NY

 

 

 

2,340,671

 

4,770,714

 

None

 

None

 

2,340,671

 

4,770,714

 

7,111,385

 

946,192

 

 

 

1/22/2013

 

300

Syracuse

 

NY

 

 

 

1,474,646

 

4,898,244

 

None

 

None

 

1,474,646

 

4,898,244

 

6,372,890

 

971,485

 

 

 

1/22/2013

 

300

Wilton

 

NY

 

 

 

1,763,372

 

4,054,756

 

None

 

None

 

1,763,372

 

4,054,756

 

5,818,128

 

804,193

 

 

 

1/22/2013

 

300

Cadiz

 

OH

 

 

 

904,795

 

2,080,515

 

47,152

 

None

 

904,795

 

2,127,667

 

3,032,462

 

418,120

 

 

 

1/22/2013

 

300

Carrollton

 

OH

 

 

 

1,001,306

 

2,302,436

 

375

 

None

 

1,001,306

 

2,302,811

 

3,304,117

 

456,657

 

 

 

1/22/2013

 

300

Centerville

 

OH

 

 

 

1,971,631

 

4,308,306

 

None

 

None

 

1,971,631

 

4,308,306

 

6,279,937

 

466,733

 

 

 

4/29/2015

 

300

Columbus

 

OH

 

 

 

1,153,997

 

3,245,924

 

None

 

None

 

1,153,997

 

3,245,924

 

4,399,921

 

589,676

 

 

 

6/13/2013

 

300

Columbus

 

OH

 

 

 

2,580,000

 

4,383,667

 

None

 

None

 

2,580,000

 

4,383,667

 

6,963,667

 

474,897

 

 

 

4/29/2015

 

300

Cortland

 

OH

 

 

 

1,440,000

 

1,364,725

 

1,250

 

None

 

1,440,000

 

1,365,975

 

2,805,975

 

703,986

 

 

 

2/9/2005

 

300

East Liverpool

 

OH

 

 

 

958,357

 

2,203,679

 

55,758

 

None

 

958,357

 

2,259,437

 

3,217,794

 

443,735

 

 

 

1/22/2013

 

300

Franklin

 

OH

 

 

 

1,320,000

 

4,322,403

 

None

 

None

 

1,320,000

 

4,322,403

 

5,642,403

 

468,260

 

 

 

4/29/2015

 

300

Lakewood

 

OH

 

 

 

1,873,535

 

4,202,711

 

None

 

None

 

1,873,535

 

4,202,711

 

6,076,246

 

455,294

 

 

 

4/29/2015

 

300

Liberty Township

 

OH

 

 

 

1,892,611

 

4,135,636

 

None

 

None

 

1,892,611

 

4,135,636

 

6,028,247

 

448,027

 

 

 

4/29/2015

 

300

Lisbon

 

OH

 

 

 

706,599

 

1,624,777

 

45,482

 

None

 

706,599

 

1,670,259

 

2,376,858

 

327,710

 

 

 

1/22/2013

 

300

Madison

 

OH

 

 

 

580,000

 

1,272,742

 

375

 

None

 

580,000

 

1,273,117

 

1,853,117

 

646,978

 

 

 

4/29/2005

 

300

Mansfield

 

OH

 

 

 

1,653,932

 

3,803,106

 

None

 

None

 

1,653,932

 

3,803,106

 

5,457,038

 

754,283

 

 

 

1/22/2013

 

300

Marysville

 

OH

 

 

 

1,654,400

 

3,804,182

 

None

 

None

 

1,654,400

 

3,804,182

 

5,458,582

 

754,496

 

 

 

1/22/2013

 

300

Mayfield Heights

 

OH

 

 

 

-     

 

2,703,730

 

None

 

None

 

-     

 

2,703,730

 

2,703,730

 

1,067,973

 

 

 

2/21/2008

 

300

Reynoldsburg

 

OH

 

 

 

1,286,721

 

3,619,244

 

284,151

 

None

 

1,286,721

 

3,903,395

 

5,190,116

 

673,977

 

 

 

6/7/2013

 

300

Reynoldsburg

 

OH

 

 

 

1,844,354

 

3,605,879

 

None

 

None

 

1,844,354

 

3,605,879

 

5,450,233

 

186,304

 

 

 

9/29/2016

 

300

Sidney

 

OH

 

 

 

1,359,676

 

3,198,465

 

26,300

 

None

 

1,359,676

 

3,224,765

 

4,584,441

 

378,540

 

 

 

1/7/2015

 

300

Upper Arlington

 

OH

 

 

 

3,010,646

 

5,513,043

 

None

 

None

 

3,010,646

 

5,513,043

 

8,523,689

 

1,093,420

 

 

 

1/22/2013

 

300

Warren

 

OH

 

 

 

960,000

 

1,326,083

 

None

 

None

 

960,000

 

1,326,083

 

2,286,083

 

682,924

 

 

 

2/9/2005

 

300

Warren

 

OH

 

 

 

800,000

 

1,241,503

 

None

 

None

 

800,000

 

1,241,503

 

2,041,503

 

639,365

 

 

 

2/9/2005

 

300

Willowick

 

OH

 

 

 

530,000

 

1,241,308

 

375

 

None

 

530,000

 

1,241,683

 

1,771,683

 

630,999

 

 

 

4/29/2005

 

300

Catoosa

 

OK

 

 

 

1,893,125

 

3,388,626

 

None

 

None

 

1,893,125

 

3,388,626

 

5,281,751

 

175,079

 

 

 

9/29/2016

 

300

Edmond

 

OK

 

 

 

946,988

 

-     

 

None

 

100,000

 

946,988

 

100,000

 

1,046,988

 

8,765

 

 

 

6/27/2013

 

251

El Reno

 

OK

 

 

 

670,000

 

3,457,967

 

None

 

None

 

670,000

 

3,457,967

 

4,127,967

 

420,719

 

 

 

12/23/2014

 

300

Enid

 

OK

 

 

 

1,873,096

 

3,352,776

 

None

 

None

 

1,873,096

 

3,352,776

 

5,225,872

 

173,227

 

 

 

9/29/2016

 

300

Midwest City

 

OK

 

 

 

1,560,000

 

4,215,560

 

None

 

None

 

1,560,000

 

4,215,560

 

5,775,560

 

456,686

 

 

 

4/29/2015

 

300

Moore

 

OK

 

 

 

1,309,620

 

2,919,423

 

None

 

None

 

1,309,620

 

2,919,423

 

4,229,043

 

209,225

 

 

 

3/30/2016

 

300

Oklahoma City

 

OK

 

 

 

1,700,000

 

3,525,872

 

None

 

None

 

1,700,000

 

3,525,872

 

5,225,872

 

182,170

 

 

 

9/29/2016

 

300

Ponca City

 

OK

 

 

 

1,247,744

 

3,100,506

 

None

 

None

 

1,247,744

 

3,100,506

 

4,348,250

 

408,233

 

 

 

9/30/2014

 

300

Tulsa

 

OK

 

 

 

813,500

 

5,707

 

1,500

 

None

 

813,500

 

7,207

 

820,707

 

1,728

 

10/31/2013

 

5/3/2013

 

300

Warr Acres

 

OK

 

 

 

1,813,278

 

3,962,282

 

None

 

None

 

1,813,278

 

3,962,282

 

5,775,560

 

429,247

 

 

 

4/29/2015

 

300

Redmond

 

OR

 

 

 

2,120,000

 

4,351,271

 

None

 

None

 

2,120,000

 

4,351,271

 

6,471,271

 

355,354

 

 

 

12/4/2015

 

300

Beaver

 

PA

 

 

 

1,933,000

 

3,003,160

 

None

 

None

 

1,933,000

 

3,003,160

 

4,936,160

 

1,206,269

 

 

 

12/20/2007

 

300

Carlisle

 

PA

 

 

 

1,687,948

 

3,881,323

 

None

 

None

 

1,687,948

 

3,881,323

 

5,569,271

 

769,796

 

 

 

1/22/2013

 

300

Delmont

 

PA

 

 

 

720,000

 

1,246,023

 

10,850

 

None

 

720,000

 

1,256,873

 

1,976,873

 

651,914

 

 

 

2/9/2005

 

300

Emmaus

 

PA

 

 

 

1,568,237

 

4,411,084

 

None

 

None

 

1,568,237

 

4,411,084

 

5,979,321

 

801,347

 

 

 

6/20/2013

 

300

Export

 

PA

 

 

 

710,000

 

1,666,912

 

56,295

 

None

 

710,000

 

1,723,207

 

2,433,207

 

862,163

 

 

 

2/9/2005

 

300

Girard

 

PA

 

 

 

-     

 

1,352,590

 

188,015

 

None

 

-     

 

1,540,605

 

1,540,605

 

1,384,538

 

 

 

2/9/2005

 

183

Harrisburg

 

PA

 

 

 

2,100,000

 

3,400,000

 

None

 

None

 

2,100,000

 

3,400,000

 

5,500,000

 

277,667

 

 

 

12/4/2015

 

300

Imperial

 

PA

 

 

 

1,255,750

 

2,995,001

 

None

 

None

 

1,255,750

 

2,995,001

 

4,250,751

 

1,362,725

 

 

 

8/16/2006

 

300

Johnstown

 

PA

 

 

 

250,000

 

2,593,436

 

None

 

None

 

250,000

 

2,593,436

 

2,843,436

 

1,335,611

 

 

 

2/9/2005

 

300

Johnstown

 

PA

 

 

 

600,000

 

2,010,255

 

375

 

None

 

600,000

 

2,010,630

 

2,610,630

 

1,035,279

 

 

 

2/9/2005

 

300

Norristown

 

PA

 

 

 

-     

 

3,603,611

 

None

 

None

 

-     

 

3,603,611

 

3,603,611

 

1,423,425

 

 

 

2/21/2008

 

300

Philadelphia

 

PA

 

 

 

-     

 

3,803,732

 

None

 

None

 

-     

 

3,803,732

 

3,803,732

 

1,502,473

 

 

 

2/26/2008

 

300

Phoenixville

 

PA

 

 

 

3,510,000

 

5,123,285

 

None

 

None

 

3,510,000

 

5,123,285

 

8,633,285

 

930,730

 

 

 

6/5/2013

 

300

Pittsburgh

 

PA

 

 

 

2,784,426

 

5,002,215

 

None

 

None

 

2,784,426

 

5,002,215

 

7,786,641

 

992,106

 

 

 

1/22/2013

 

300

Reading

 

PA

 

 

 

1,400,000

 

3,304,996

 

None

 

None

 

1,400,000

 

3,304,996

 

4,704,996

 

1,305,472

 

 

 

2/21/2008

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Saint Marys

 

PA

 

 

 

1,663,632

 

3,090,403

 

None

 

None

 

1,663,632

 

3,090,403

 

4,754,035

 

1,241,312

 

 

 

12/20/2007

 

300

Slippery Rock

 

PA

 

 

 

-     

 

1,295,495

 

205,797

 

None

 

-     

 

1,501,292

 

1,501,292

 

1,369,267

 

 

 

2/9/2005

 

183

Uniontown

 

PA

 

 

 

1,617,507

 

4,549,669

 

None

 

None

 

1,617,507

 

4,549,669

 

6,167,176

 

826,523

 

 

 

6/11/2013

 

300

Wexford

 

PA

 

 

 

2,300,000

 

2,606,080

 

None

 

None

 

2,300,000

 

2,606,080

 

4,906,080

 

1,029,401

 

 

 

2/21/2008

 

300

Yeadon

 

PA

 

 

 

-     

 

3,253,285

 

None

 

None

 

-     

 

3,253,285

 

3,253,285

 

1,306,736

 

 

 

12/20/2007

 

300

Prospect Park

 

PA

 

 

 

1,132,811

 

2,045,340

 

None

 

None

 

1,132,811

 

2,045,340

 

3,178,151

 

3,409

 

 

 

12/27/2017

 

300

Woonsocket

 

RI

 

 

 

1,297,497

 

2,939,041

 

None

 

None

 

1,297,497

 

2,939,041

 

4,236,538

 

514,332

 

 

 

8/1/2013

 

300

Columbia

 

SC

 

 

 

1,430,093

 

3,288,404

 

None

 

None

 

1,430,093

 

3,288,404

 

4,718,497

 

652,200

 

 

 

1/22/2013

 

300

Conway

 

SC

 

 

 

-     

 

3,451,662

 

None

 

None

 

-     

 

3,451,662

 

3,451,662

 

684,580

 

 

 

1/22/2013

 

300

Rapid City

 

SD

 

 

 

1,699,906

 

3,323,470

 

None

 

None

 

1,699,906

 

3,323,470

 

5,023,376

 

171,713

 

 

 

9/29/2016

 

300

Athens

 

TN

 

 

 

1,650,000

 

3,842,297

 

None

 

None

 

1,650,000

 

3,842,297

 

5,492,297

 

416,249

 

 

 

4/29/2015

 

300

Bartlett

 

TN

 

 

 

1,563,355

 

3,677,593

 

None

 

None

 

1,563,355

 

3,677,593

 

5,240,948

 

435,182

 

 

 

1/7/2015

 

300

Brownsville

 

TN

 

 

 

1,490,000

 

3,683,903

 

None

 

None

 

1,490,000

 

3,683,903

 

5,173,903

 

399,089

 

 

 

4/29/2015

 

300

Chattanooga

 

TN

 

 

 

1,090,783

 

2,695,258

 

96,674

 

None

 

1,090,783

 

2,791,932

 

3,882,715

 

427,143

 

 

 

1/9/2014

 

300

Chattanooga

 

TN

 

 

 

844,737

 

1,757,323

 

375

 

None

 

844,737

 

1,757,698

 

2,602,435

 

102,517

 

 

 

7/19/2016

 

300

Colonial Heights

 

TN

 

 

 

1,837,294

 

4,014,760

 

None

 

None

 

1,837,294

 

4,014,760

 

5,852,054

 

434,932

 

 

 

4/29/2015

 

300

Fayetteville

 

TN

 

 

 

1,490,000

 

4,127,381

 

None

 

None

 

1,490,000

 

4,127,381

 

5,617,381

 

447,133

 

 

 

4/29/2015

 

300

Franklin

 

TN

 

 

 

754,510

 

2,122,261

 

59,286

 

None

 

754,510

 

2,181,547

 

2,936,057

 

391,808

 

 

 

6/6/2013

 

300

Hixson

 

TN

 

 

 

973,733

 

2,406,034

 

14,220

 

None

 

973,733

 

2,420,254

 

3,393,987

 

382,259

 

 

 

1/9/2014

 

300

Lawrenceburg

 

TN

 

 

 

1,633,403

 

3,892,546

 

None

 

None

 

1,633,403

 

3,892,546

 

5,525,949

 

421,692

 

 

 

4/29/2015

 

300

Madisonville

 

TN

 

 

 

1,160,000

 

3,656,303

 

None

 

None

 

1,160,000

 

3,656,303

 

4,816,303

 

188,909

 

 

 

9/29/2016

 

300

Memphis

 

TN

 

 

 

350,000

 

2,783,909

 

27,134

 

None

 

350,000

 

2,811,043

 

3,161,043

 

454,973

 

 

 

1/9/2014

 

300

Soddy Daisy

 

TN

 

 

 

1,726,295

 

3,090,008

 

None

 

None

 

1,726,295

 

3,090,008

 

4,816,303

 

159,650

 

 

 

9/29/2016

 

300

White House

 

TN

 

 

 

1,649,422

 

3,930,720

 

None

 

None

 

1,649,422

 

3,930,720

 

5,580,142

 

425,828

 

 

 

4/29/2015

 

300

Austin

 

TX

 

 

 

1,623,904

 

3,734,059

 

None

 

None

 

1,623,904

 

3,734,059

 

5,357,963

 

740,588

 

 

 

1/22/2013

 

300

Coppell

 

TX

 

 

 

1,076,551

 

3,097,830

 

None

 

None

 

1,076,551

 

3,097,830

 

4,174,381

 

614,403

 

 

 

1/22/2013

 

300

Houston

 

TX

 

 

 

1,268,978

 

3,569,338

 

86,512

 

None

 

1,268,978

 

3,655,850

 

4,924,828

 

652,938

 

 

 

6/11/2013

 

300

Houston

 

TX

 

 

 

2,860,000

 

3,490,686

 

None

 

None

 

2,860,000

 

3,490,686

 

6,350,686

 

413,065

 

 

 

1/7/2015

 

300

Houston

 

TX

 

 

 

1,481,177

 

2,450,082

 

None

 

None

 

1,481,177

 

2,450,082

 

3,931,259

 

53,085

 

 

 

6/27/2017

 

300

Lubbock

 

TX

 

 

 

973,713

 

2,738,827

 

3,293

 

None

 

973,713

 

2,742,120

 

3,715,833

 

498,002

 

 

 

6/5/2013

 

300

Odessa

 

TX

 

 

 

2,670,000

 

4,437,377

 

None

 

None

 

2,670,000

 

4,437,377

 

7,107,377

 

229,264

 

 

 

9/29/2016

 

300

Saginaw

 

TX

 

 

 

1,727,698

 

3,851,409

 

None

 

None

 

1,727,698

 

3,851,409

 

5,579,107

 

276,018

 

 

 

3/30/2016

 

300

Sealy

 

TX

 

 

 

1,514,567

 

3,482,644

 

None

 

None

 

1,514,567

 

3,482,644

 

4,997,211

 

690,724

 

 

 

1/22/2013

 

300

Victoria

 

TX

 

 

 

1,969,399

 

3,850,355

 

None

 

None

 

1,969,399

 

3,850,355

 

5,819,754

 

198,935

 

 

 

9/29/2016

 

300

Wichita Falls

 

TX

 

 

 

1,331,410

 

3,131,974

 

None

 

None

 

1,331,410

 

3,131,974

 

4,463,384

 

370,617

 

 

 

1/16/2015

 

300

Fredericksburg

 

VA

 

 

 

-     

 

2,901,815

 

None

 

None

 

-     

 

2,901,815

 

2,901,815

 

1,146,215

 

 

 

2/21/2008

 

300

King George

 

VA

 

 

 

1,772,216

 

4,075,092

 

None

 

None

 

1,772,216

 

4,075,092

 

5,847,308

 

808,226

 

 

 

1/22/2013

 

300

Martinsville

 

VA

 

 

 

560,565

 

3,290,085

 

None

 

None

 

560,565

 

3,290,085

 

3,850,650

 

652,534

 

 

 

1/22/2013

 

300

Richmond

 

VA

 

 

 

1,255,931

 

3,103,326

 

92,118

 

None

 

1,255,931

 

3,195,444

 

4,451,375

 

501,118

 

 

 

1/16/2014

 

300

Richmond

 

VA

 

 

 

1,388,198

 

3,255,705

 

91,059

 

None

 

1,388,198

 

3,346,764

 

4,734,962

 

335,475

 

 

 

6/30/2015

 

300

Burlington

 

VT

 

 

 

2,049,745

 

4,643,003

 

None

 

None

 

2,049,745

 

4,643,003

 

6,692,748

 

828,002

 

 

 

7/19/2013

 

300

Graham

 

WA

 

 

 

1,396,502

 

3,928,032

 

None

 

None

 

1,396,502

 

3,928,032

 

5,324,534

 

713,592

 

 

 

6/4/2013

 

300

Lynnwood

 

WA

 

 

 

1,410,480

 

3,967,350

 

None

 

None

 

1,410,480

 

3,967,350

 

5,377,830

 

720,735

 

 

 

6/28/2013

 

300

Mount Vernon

 

WA

 

 

 

-     

 

3,785,303

 

None

 

None

 

-     

 

3,785,303

 

3,785,303

 

309,133

 

 

 

12/4/2015

 

300

Puyallup

 

WA

 

 

 

1,835,489

 

4,535,379

 

None

 

None

 

1,835,489

 

4,535,379

 

6,370,868

 

733,220

 

 

 

12/11/2013

 

300

Antigo

 

WI

 

 

 

1,540,000

 

4,754,008

 

None

 

None

 

1,540,000

 

4,754,008

 

6,294,008

 

515,018

 

 

 

4/29/2015

 

300

Burlington

 

WI

 

 

 

1,330,000

 

3,994,665

 

None

 

None

 

1,330,000

 

3,994,665

 

5,324,665

 

206,391

 

 

 

9/29/2016

 

300

Glendale

 

WI

 

 

 

1,690,491

 

3,305,064

 

None

 

None

 

1,690,491

 

3,305,064

 

4,995,555

 

170,762

 

 

 

9/29/2016

 

300

Kaukauna

 

WI

 

 

 

1,893,714

 

4,138,045

 

None

 

None

 

1,893,714

 

4,138,045

 

6,031,759

 

448,288

 

 

 

4/29/2015

 

300

Marshfield

 

WI

 

 

 

1,010,000

 

4,175,525

 

None

 

None

 

1,010,000

 

4,175,525

 

5,185,525

 

215,735

 

 

 

9/29/2016

 

300

Mauston

 

WI

 

 

 

1,505,223

 

3,819,442

 

None

 

None

 

1,505,223

 

3,819,442

 

5,324,665

 

197,338

 

 

 

9/29/2016

 

300

Menomonee Falls

 

WI

 

 

 

2,180,000

 

4,235,106

 

None

 

None

 

2,180,000

 

4,235,106

 

6,415,106

 

458,803

 

 

 

4/29/2015

 

300

Menomonie

 

WI

 

 

 

2,200,000

 

3,831,758

 

None

 

None

 

2,200,000

 

3,831,758

 

6,031,758

 

415,107

 

 

 

4/29/2015

 

300

Milwaukee

 

WI

 

 

 

1,830,000

 

4,128,507

 

None

 

None

 

1,830,000

 

4,128,507

 

5,958,507

 

447,255

 

 

 

4/29/2015

 

300

Milwaukee

 

WI

 

 

 

1,801,861

 

3,522,803

 

None

 

None

 

1,801,861

 

3,522,803

 

5,324,664

 

182,011

 

 

 

9/29/2016

 

300

Monona

 

WI

 

 

 

1,135,636

 

2,806,085

 

None

 

None

 

1,135,636

 

2,806,085

 

3,941,721

 

453,650

 

 

 

12/17/2013

 

300

Racine

 

WI

 

 

 

1,976,049

 

4,317,960

 

None

 

None

 

1,976,049

 

4,317,960

 

6,294,009

 

467,779

 

 

 

4/29/2015

 

300

Two Rivers

 

WI

 

 

 

1,280,000

 

4,776,734

 

None

 

None

 

1,280,000

 

4,776,734

 

6,056,734

 

517,480

 

 

 

4/29/2015

 

300

Wisconsin Rapids

 

WI

 

 

 

1,893,714

 

4,138,045

 

None

 

None

 

1,893,714

 

4,138,045

 

6,031,759

 

448,288

 

 

 

4/29/2015

 

300

Buckhannon

 

WV

 

 

 

1,716,898

 

3,189,190

 

None

 

None

 

1,716,898

 

3,189,190

 

4,906,088

 

1,259,728

 

 

 

2/21/2008

 

300

Huntington

 

WV

 

 

 

1,085,818

 

3,802,536

 

None

 

None

 

1,085,818

 

3,802,536

 

4,888,354

 

754,170

 

 

 

1/22/2013

 

300

Rock Springs

 

WY

 

 

 

1,970,000

 

4,644,222

 

None

 

None

 

1,970,000

 

4,644,222

 

6,614,222

 

503,124

 

 

 

4/29/2015

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Education

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peoria

 

AZ

 

 

 

281,750

 

625,779

 

69,854

 

18,665

 

281,750

 

714,298

 

996,048

 

698,188

 

 

 

3/30/1988

 

300

Corona

 

CA

 

 

 

144,856

 

671,584

 

None

 

26,846

 

144,856

 

698,430

 

843,286

 

698,430

 

 

 

12/19/1984

 

300

Santee

 

CA

 

 

 

248,418

 

551,748

 

37,230

 

29,831

 

248,418

 

618,809

 

867,227

 

581,261

 

 

 

7/23/1987

 

300

Coconut Creek

 

FL

 

 

 

310,111

 

1,243,682

 

None

 

None

 

310,111

 

1,243,682

 

1,553,793

 

914,393

 

8/2/1999

 

12/1/1998

 

300

Las Vegas

 

NV

 

 

 

1,080,444

 

3,346,772

 

None

 

73

 

1,080,444

 

3,346,845

 

4,427,289

 

2,649,504

 

 

 

3/4/1998

 

300

Beaverton

 

OR

 

 

 

135,148

 

626,647

 

None

 

26,949

 

135,148

 

653,596

 

788,744

 

653,590

 

 

 

12/17/1986

 

300

Memphis

 

TN

 

 

 

238,263

 

504,897

 

183,216

 

5,352

 

238,263

 

693,465

 

931,728

 

515,529

 

 

 

9/29/1988

 

300

Arlington

 

TX

 

 

 

195,650

 

387,355

 

9,289

 

104

 

195,650

 

396,748

 

592,398

 

391,429

 

 

 

2/7/1991

 

300

Austin

 

TX

 

 

 

238,000

 

528,604

 

90,133

 

22,315

 

238,000

 

641,052

 

879,052

 

607,371

 

 

 

4/6/1989

 

300

Mesquite

 

TX

 

 

 

1,049,287

 

1,949,085

 

233,921

 

63,743

 

1,049,287

 

2,246,749

 

3,296,036

 

1,452,473

 

 

 

3/28/2002

 

300

Southlake

 

TX

 

 

 

228,279

 

511,750

 

None

 

25,283

 

228,279

 

537,033

 

765,312

 

534,156

 

 

 

3/10/1993

 

300

Sugar Land

 

TX

 

 

 

1,600,000

 

6,300,995

 

None

 

None

 

1,600,000

 

6,300,995

 

7,900,995

 

2,908,956

 

 

 

6/28/2006

 

300

Chantilly

 

VA

 

 

 

688,917

 

3,208,607

 

None

 

None

 

688,917

 

3,208,607

 

3,897,524

 

2,322,046

 

5/7/1999

 

9/30/1998

 

300

Kingstowne

 

VA

 

 

 

300,000

 

1,191,396

 

None

 

None

 

300,000

 

1,191,396

 

1,491,396

 

836,264

 

8/22/2000

 

11/8/1999

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electric utilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fairfield

 

CA

 

 

 

1,450,000

 

9,207,989

 

2,000

 

None

 

1,450,000

 

9,209,989

 

10,659,989

 

1,151,865

 

 

 

8/30/2013

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Entertainment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Riverside

 

CA

 

 

 

7,800,000

 

130

 

(416,985

)

None

 

7,383,015

 

130

 

7,383,145

 

78

 

 

 

7/5/2002

 

300

Vista

 

CA

 

 

 

2,300,000

 

22

 

None

 

None

 

2,300,000

 

22

 

2,300,022

 

16

 

 

 

3/31/1999

 

300

Marietta

 

GA

 

 

 

1,500,000

 

768

 

None

 

None

 

1,500,000

 

768

 

1,500,768

 

493

 

 

 

6/29/2001

 

300

Norcross

 

GA

 

 

 

1,600,000

 

768

 

None

 

None

 

1,600,000

 

768

 

1,600,768

 

493

 

 

 

6/29/2001

 

300

Greensboro

 

NC

 

 

 

4,000,000

 

463

 

None

 

None

 

4,000,000

 

463

 

4,000,463

 

278

 

 

 

7/5/2002

 

300

Omaha

 

NE

 

 

 

1,956,296

 

3,949,402

 

208,052

 

140,128

 

1,956,296

 

4,297,582

 

6,253,878

 

3,452,948

 

 

 

4/4/1997

 

300

Calverton

 

NY

 

 

 

6,200,000

 

744

 

None

 

None

 

6,200,000

 

744

 

6,200,744

 

549

 

 

 

7/23/1999

 

300

Medford

 

NY

 

 

 

1,500,000

 

745

 

None

 

None

 

1,500,000

 

745

 

1,500,745

 

550

 

 

 

7/23/1999

 

300

Arlington

 

TX

 

 

 

1,330,000

 

2,776,647

 

None

 

None

 

1,330,000

 

2,776,647

 

4,106,647

 

365,592

 

 

 

9/11/2014

 

300

San Antonio

 

TX

 

 

 

1,310,000

 

1,920,140

 

None

 

None

 

1,310,000

 

1,920,140

 

3,230,140

 

259,219

 

 

 

8/6/2014

 

300

Sandy

 

UT

 

 

 

1,970,000

 

1,983,352

 

None

 

None

 

1,970,000

 

1,983,352

 

3,953,352

 

148,751

 

 

 

2/18/2016

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equipment services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lake Worth

 

FL

 

 

 

679,079

 

1,262,568

 

9,754

 

140

 

679,079

 

1,272,462

 

1,951,541

 

730,766

 

 

 

7/3/2003

 

300

Novi

 

MI

 

 

 

430,000

 

6,661,063

 

None

 

None

 

430,000

 

6,661,063

 

7,091,063

 

689,896

 

 

 

5/9/2014

 

420

Cameron

 

MO

 

 

 

940,000

 

18,280,024

 

624,144

 

None

 

940,000

 

18,904,168

 

19,844,168

 

2,583,358

 

 

 

6/25/2013

 

420

Sanford

 

NC

 

7,498,552

 

226,784

 

15,056,005

 

39,175

 

None

 

226,784

 

15,095,180

 

15,321,964

 

3,190,989

 

 

 

9/25/2012

 

300

Elko

 

NV

 

 

 

1,401,115

 

10,342,501

 

17,091

 

None

 

1,401,115

 

10,359,592

 

11,760,707

 

2,820,745

 

 

 

3/15/2011

 

300

Lewisville

 

TX

 

 

 

1,010,134

 

1,877,384

 

None

 

None

 

1,010,134

 

1,877,384

 

2,887,518

 

1,085,754

 

 

 

7/3/2003

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Phoenix

 

AZ

 

 

 

245,137

 

456,324

 

None

 

None

 

245,137

 

456,324

 

701,461

 

180,248

 

 

 

2/1/2008

 

300

El Cajon

 

CA

 

 

 

1,620,871

 

-     

 

None

 

None

 

1,620,871

 

-     

 

1,620,871

 

-     

 

 

 

6/19/2014

 

N/A

Turlock

 

CA

 

 

 

222,250

 

493,627

 

9,911

 

19,400

 

222,250

 

522,938

 

745,188

 

508,507

 

 

 

12/30/1987

 

300

Colorado Springs

 

CO

 

 

 

313,250

 

695,730

 

40,500

 

79

 

313,250

 

736,309

 

1,049,559

 

736,309

 

 

 

3/10/1987

 

300

Fort Myers

 

FL

 

 

 

1,025,624

 

2,407,011

 

None

 

None

 

1,025,624

 

2,407,011

 

3,432,635

 

477,391

 

 

 

1/22/2013

 

300

Orlando

 

FL

 

 

 

532,556

 

940,177

 

None

 

None

 

532,556

 

940,177

 

1,472,733

 

430,882

 

6/9/2006

 

12/15/2005

 

300

Palm Coast

 

FL

 

 

 

713,370

 

2,421,133

 

None

 

None

 

713,370

 

2,421,133

 

3,134,503

 

480,191

 

 

 

1/22/2013

 

300

Plantation

 

FL

 

 

 

1,160,000

 

1,049,443

 

None

 

None

 

1,160,000

 

1,049,443

 

2,209,443

 

166,162

 

 

 

1/31/2014

 

300

Pompano Beach

 

FL

 

 

 

1,563,202

 

2,354,641

 

None

 

None

 

1,563,202

 

2,354,641

 

3,917,843

 

467,004

 

 

 

1/22/2013

 

300

Acworth

 

GA

 

 

 

650,000

 

992,950

 

None

 

None

 

650,000

 

992,950

 

1,642,950

 

157,217

 

 

 

1/31/2014

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alpharetta

 

GA

 

 

 

940,000

 

1,305,410

 

None

 

None

 

940,000

 

1,305,410

 

2,245,410

 

206,690

 

 

 

1/31/2014

 

300

Hinesville

 

GA

 

 

 

172,611

 

383,376

 

48,800

 

3,796

 

172,611

 

435,972

 

608,583

 

405,356

 

 

 

12/22/1987

 

300

Coeur D Alene

 

ID

 

 

 

165,900

 

368,468

 

None

 

None

 

165,900

 

368,468

 

534,368

 

368,468

 

 

 

9/21/1987

 

300

Addison

 

IL

 

 

 

205,794

 

1,138,488

 

None

 

None

 

205,794

 

1,138,488

 

1,344,282

 

51,232

 

 

 

11/9/2016

 

300

Addison

 

IL

 

 

 

206,518

 

1,142,496

 

None

 

None

 

206,518

 

1,142,496

 

1,349,014

 

51,412

 

 

 

11/9/2016

 

300

Aurora

 

IL

 

 

 

255,961

 

1,416,021

 

None

 

None

 

255,961

 

1,416,021

 

1,671,982

 

63,721

 

 

 

11/9/2016

 

300

Aurora

 

IL

 

 

 

345,808

 

1,913,072

 

None

 

None

 

345,808

 

1,913,072

 

2,258,880

 

86,088

 

 

 

11/9/2016

 

300

Aurora

 

IL

 

 

 

276,403

 

1,529,109

 

None

 

None

 

276,403

 

1,529,109

 

1,805,512

 

68,810

 

 

 

11/9/2016

 

300

Bensenville

 

IL

 

 

 

295,732

 

1,636,044

 

None

 

None

 

295,732

 

1,636,044

 

1,931,776

 

73,622

 

 

 

11/9/2016

 

300

Bolingbrook

 

IL

 

 

 

201,048

 

1,112,232

 

None

 

None

 

201,048

 

1,112,232

 

1,313,280

 

50,050

 

 

 

11/9/2016

 

300

Buffalo Grove

 

IL

 

 

 

204,350

 

1,130,501

 

None

 

None

 

204,350

 

1,130,501

 

1,334,851

 

50,873

 

 

 

11/9/2016

 

300

Calumet City

 

IL

 

 

 

158,237

 

875,395

 

None

 

None

 

158,237

 

875,395

 

1,033,632

 

39,393

 

 

 

11/9/2016

 

300

Carpentersville

 

IL

 

 

 

1,752,080

 

-     

 

None

 

None

 

1,752,080

 

-     

 

1,752,080

 

-     

 

 

 

1/22/2013

 

N/A

Carpentersville

 

IL

 

 

 

289,337

 

1,600,663

 

None

 

None

 

289,337

 

1,600,663

 

1,890,000

 

72,030

 

 

 

11/9/2016

 

300

Cary

 

IL

 

 

 

478,057

 

1,623,383

 

None

 

None

 

478,057

 

1,623,383

 

2,101,440

 

73,052

 

 

 

11/9/2016

 

300

Chicago

 

IL

 

 

 

1,110,000

 

816,582

 

None

 

None

 

1,110,000

 

816,582

 

1,926,582

 

36,746

 

 

 

11/9/2016

 

300

Chicago Heights

 

IL

 

 

 

155,048

 

857,752

 

None

 

None

 

155,048

 

857,752

 

1,012,800

 

38,599

 

 

 

11/9/2016

 

300

Crete

 

IL

 

 

 

430,000

 

1,224,782

 

None

 

None

 

430,000

 

1,224,782

 

1,654,782

 

55,115

 

 

 

11/9/2016

 

300

Des Plaines

 

IL

 

 

 

278,273

 

1,539,455

 

None

 

None

 

278,273

 

1,539,455

 

1,817,728

 

69,275

 

 

 

11/9/2016

 

300

Fox Lake

 

IL

 

 

 

178,690

 

988,542

 

None

 

None

 

178,690

 

988,542

 

1,167,232

 

44,484

 

 

 

11/9/2016

 

300

Frankfort

 

IL

 

 

 

335,057

 

1,853,591

 

None

 

None

 

335,057

 

1,853,591

 

2,188,648

 

83,412

 

 

 

11/9/2016

 

300

Frankfort

 

IL

 

 

 

200,460

 

1,108,980

 

None

 

None

 

200,460

 

1,108,980

 

1,309,440

 

49,904

 

 

 

11/9/2016

 

300

Hoffman Estates

 

IL

 

 

 

171,507

 

948,808

 

None

 

None

 

171,507

 

948,808

 

1,120,315

 

42,696

 

 

 

11/9/2016

 

300

Hoffman Estates

 

IL

 

 

 

173,804

 

961,511

 

None

 

None

 

173,804

 

961,511

 

1,135,315

 

43,268

 

 

 

11/9/2016

 

300

Homer Glen

 

IL

 

 

 

335,399

 

1,855,483

 

None

 

None

 

335,399

 

1,855,483

 

2,190,882

 

83,497

 

 

 

11/9/2016

 

300

Homewood

 

IL

 

 

 

262,700

 

1,453,300

 

None

 

None

 

262,700

 

1,453,300

 

1,716,000

 

65,399

 

 

 

11/9/2016

 

300

Huntley

 

IL

 

 

 

229,618

 

1,270,286

 

None

 

None

 

229,618

 

1,270,286

 

1,499,904

 

57,163

 

 

 

11/9/2016

 

300

Huntley

 

IL

 

 

 

254,359

 

1,407,161

 

None

 

None

 

254,359

 

1,407,161

 

1,661,520

 

63,322

 

 

 

11/9/2016

 

300

La Grange

 

IL

 

 

 

210,000

 

1,117,079

 

None

 

None

 

210,000

 

1,117,079

 

1,327,079

 

50,269

 

 

 

11/9/2016

 

300

Machesney Park

 

IL

 

 

 

279,211

 

1,544,642

 

None

 

None

 

279,211

 

1,544,642

 

1,823,853

 

69,509

 

 

 

11/9/2016

 

300

Montgomery

 

IL

 

 

 

1,636,238

 

-     

 

None

 

None

 

1,636,238

 

-     

 

1,636,238

 

-     

 

 

 

1/22/2013

 

N/A

Mount Prospect

 

IL

 

 

 

236,444

 

1,308,052

 

None

 

None

 

236,444

 

1,308,052

 

1,544,496

 

58,862

 

 

 

11/9/2016

 

300

Mundelein

 

IL

 

 

 

212,178

 

1,173,804

 

None

 

None

 

212,178

 

1,173,804

 

1,385,982

 

52,821

 

 

 

11/9/2016

 

300

Naperville

 

IL

 

 

 

321,687

 

1,779,628

 

None

 

None

 

321,687

 

1,779,628

 

2,101,315

 

80,083

 

 

 

11/9/2016

 

300

Naperville

 

IL

 

 

 

87,533

 

484,246

 

None

 

None

 

87,533

 

484,246

 

571,779

 

21,791

 

 

 

11/9/2016

 

300

New Lenox

 

IL

 

 

 

226,751

 

1,254,429

 

None

 

None

 

226,751

 

1,254,429

 

1,481,180

 

56,449

 

 

 

11/9/2016

 

300

Niles

 

IL

 

 

 

285,484

 

1,579,348

 

None

 

None

 

285,484

 

1,579,348

 

1,864,832

 

71,071

 

 

 

11/9/2016

 

300

North Riverside

 

IL

 

 

 

346,333

 

1,176,076

 

None

 

None

 

346,333

 

1,176,076

 

1,522,409

 

52,923

 

 

 

11/9/2016

 

300

Northlake

 

IL

 

 

 

1,461,799

 

-     

 

None

 

None

 

1,461,799

 

-     

 

1,461,799

 

-     

 

 

 

1/22/2013

 

N/A

Oak Lawn

 

IL

 

 

 

2,052,944

 

2,383,995

 

21,000

 

41,052

 

2,052,944

 

2,446,047

 

4,498,991

 

491,946

 

 

 

1/22/2013

 

300

Oak Lawn

 

IL

 

 

 

503,500

 

1,709,780

 

None

 

None

 

503,500

 

1,709,780

 

2,213,280

 

76,940

 

 

 

11/9/2016

 

300

Orland Park

 

IL

 

 

 

208,095

 

1,151,220

 

None

 

None

 

208,095

 

1,151,220

 

1,359,315

 

51,805

 

 

 

11/9/2016

 

300

Orland Park

 

IL

 

 

 

173,038

 

957,277

 

None

 

None

 

173,038

 

957,277

 

1,130,315

 

43,077

 

 

 

11/9/2016

 

300

Oswego

 

IL

 

 

 

224,272

 

1,240,710

 

None

 

None

 

224,272

 

1,240,710

 

1,464,982

 

55,832

 

 

 

11/9/2016

 

300

Palos Heights

 

IL

 

 

 

276,603

 

1,530,213

 

None

 

None

 

276,603

 

1,530,213

 

1,806,816

 

68,860

 

 

 

11/9/2016

 

300

Plainfield

 

IL

 

 

 

254,604

 

1,408,511

 

None

 

None

 

254,604

 

1,408,511

 

1,663,115

 

63,383

 

 

 

11/9/2016

 

300

Plainfield

 

IL

 

 

 

98,242

 

543,491

 

None

 

None

 

98,242

 

543,491

 

641,733

 

24,457

 

 

 

11/9/2016

 

300

Romeoville

 

IL

 

 

 

82,070

 

454,026

 

None

 

None

 

82,070

 

454,026

 

536,096

 

20,431

 

 

 

11/9/2016

 

300

Round Lake Hghts

 

IL

 

 

 

301,660

 

1,668,836

 

None

 

None

 

301,660

 

1,668,836

 

1,970,496

 

75,098

 

 

 

11/9/2016

 

300

Schaumburg

 

IL

 

 

 

3,252,143

 

-     

 

None

 

None

 

3,252,143

 

-     

 

3,252,143

 

-     

 

 

 

1/22/2013

 

N/A

Schaumburg

 

IL

 

 

 

410,019

 

2,268,296

 

None

 

None

 

410,019

 

2,268,296

 

2,678,315

 

102,073

 

 

 

11/9/2016

 

300

Schaumburg

 

IL

 

 

 

298,389

 

1,650,743

 

None

 

None

 

298,389

 

1,650,743

 

1,949,132

 

74,283

 

 

 

11/9/2016

 

300

Shorewood

 

IL

 

 

 

60,000

 

466,592

 

None

 

None

 

60,000

 

466,592

 

526,592

 

20,997

 

 

 

11/9/2016

 

300

South Elgin

 

IL

 

 

 

250,348

 

1,384,967

 

None

 

None

 

250,348

 

1,384,967

 

1,635,315

 

62,324

 

 

 

11/9/2016

 

300

Stickney

 

IL

 

 

 

743,660

 

1,363,377

 

None

 

None

 

743,660

 

1,363,377

 

2,107,037

 

270,403

 

 

 

1/22/2013

 

300

Summit

 

IL

 

 

 

238,157

 

1,317,523

 

None

 

None

 

238,157

 

1,317,523

 

1,555,680

 

59,289

 

 

 

11/9/2016

 

300

Villa Park

 

IL

 

 

 

231,531

 

1,280,869

 

None

 

None

 

231,531

 

1,280,869

 

1,512,400

 

57,639

 

 

 

11/9/2016

 

300

West Dundee

 

IL

 

 

 

279,836

 

1,548,100

 

None

 

None

 

279,836

 

1,548,100

 

1,827,936

 

69,665

 

 

 

11/9/2016

 

300

Woodstock

 

IL

 

 

 

160,000

 

1,480,600

 

None

 

None

 

160,000

 

1,480,600

 

1,640,600

 

61,692

 

 

 

12/2/2016

 

300

Brockton

 

MA

 

 

 

229,846

 

741,196

 

None

 

None

 

229,846

 

741,196

 

971,042

 

147,004

 

 

 

1/22/2013

 

300

Centerville

 

MA

 

 

 

378,555

 

1,220,743

 

None

 

None

 

378,555

 

1,220,743

 

1,599,298

 

242,114

 

 

 

1/22/2013

 

300

Chatham

 

MA

 

 

 

513,702

 

1,656,556

 

None

 

None

 

513,702

 

1,656,556

 

2,170,258

 

328,550

 

 

 

1/22/2013

 

300

Duxbury

 

MA

 

 

 

411,113

 

1,325,735

 

None

 

None

 

411,113

 

1,325,735

 

1,736,848

 

262,938

 

 

 

1/22/2013

 

300

Hanover

 

MA

 

 

 

434,396

 

1,400,817

 

None

 

None

 

434,396

 

1,400,817

 

1,835,213

 

277,829

 

 

 

1/22/2013

 

300

Hull

 

MA

 

 

 

242,499

 

781,996

 

None

 

None

 

242,499

 

781,996

 

1,024,495

 

155,096

 

 

 

1/22/2013

 

300

Hyannis

 

MA

 

 

 

830,700

 

2,678,796

 

None

 

None

 

830,700

 

2,678,796

 

3,509,496

 

531,295

 

 

 

1/22/2013

 

300

Middleborough

 

MA

 

 

 

1,225,841

 

3,953,025

 

None

 

None

 

1,225,841

 

3,953,025

 

5,178,866

 

784,017

 

 

 

1/22/2013

 

300

Middleborough

 

MA

 

 

 

625,848

 

724,941

 

None

 

None

 

625,848

 

724,941

 

1,350,789

 

143,780

 

 

 

1/22/2013

 

300

Orleans

 

MA

 

 

 

496,997

 

1,602,690

 

None

 

None

 

496,997

 

1,602,690

 

2,099,687

 

317,867

 

 

 

1/22/2013

 

300

Pembroke

 

MA

 

 

 

520,463

 

1,678,359

 

None

 

None

 

520,463

 

1,678,359

 

2,198,822

 

332,874

 

 

 

1/22/2013

 

300

Plymouth

 

MA

 

 

 

555,446

 

7,109,710

 

None

 

None

 

555,446

 

7,109,710

 

7,665,156

 

1,410,093

 

 

 

1/22/2013

 

300

Quincy

 

MA

 

 

 

289,121

 

539,719

 

50,595

 

15,595

 

289,121

 

605,909

 

895,030

 

259,619

 

 

 

8/30/2007

 

300

Randolph

 

MA

 

 

 

530,316

 

1,710,132

 

None

 

None

 

530,316

 

1,710,132

 

2,240,448

 

339,176

 

 

 

1/22/2013

 

300

Rockland

 

MA

 

 

 

1,341,048

 

6,112,682

 

None

 

None

 

1,341,048

 

6,112,682

 

7,453,730

 

1,212,349

 

 

 

1/22/2013

 

300

Scituate

 

MA

 

 

 

403,299

 

1,300,535

 

None

 

None

 

403,299

 

1,300,535

 

1,703,834

 

257,940

 

 

 

1/22/2013

 

300

South Yarmouth

 

MA

 

 

 

477,020

 

1,538,269

 

None

 

None

 

477,020

 

1,538,269

 

2,015,289

 

305,090

 

 

 

1/22/2013

 

300

West Dennis

 

MA

 

 

 

1,065,353

 

898,827

 

None

 

None

 

1,065,353

 

898,827

 

1,964,180

 

178,267

 

 

 

1/22/2013

 

300

Blue Springs

 

MO

 

 

 

222,569

 

494,333

 

None

 

None

 

222,569

 

494,333

 

716,902

 

494,333

 

 

 

7/31/1989

 

300

Wilmington

 

NC

 

 

 

470,000

 

995,035

 

None

 

None

 

470,000

 

995,035

 

1,465,035

 

157,547

 

 

 

1/31/2014

 

300

Bloomfield

 

NJ

 

 

 

392,983

 

1,267,269

 

None

 

None

 

392,983

 

1,267,269

 

1,660,252

 

251,342

 

 

 

1/22/2013

 

300

Cedar Grove

 

NJ

 

 

 

409,890

 

1,321,792

 

None

 

None

 

409,890

 

1,321,792

 

1,731,682

 

262,155

 

 

 

1/22/2013

 

300

Clementon

 

NJ

 

 

 

424,795

 

1,369,857

 

None

 

None

 

424,795

 

1,369,857

 

1,794,652

 

271,688

 

 

 

1/22/2013

 

300

Dayton

 

NJ

 

 

 

376,731

 

1,214,861

 

None

 

None

 

376,731

 

1,214,861

 

1,591,592

 

240,947

 

 

 

1/22/2013

 

300

Deptford

 

NJ

 

 

 

308,425

 

994,592

 

None

 

None

 

308,425

 

994,592

 

1,303,017

 

197,261

 

 

 

1/22/2013

 

300

East Brunswick

 

NJ

 

 

 

445,430

 

1,436,398

 

None

 

None

 

445,430

 

1,436,398

 

1,881,828

 

284,886

 

 

 

1/22/2013

 

300

Fairfield

 

NJ

 

 

 

612,188

 

1,974,149

 

None

 

None

 

612,188

 

1,974,149

 

2,586,337

 

391,540

 

 

 

1/22/2013

 

300

Fanwood

 

NJ

 

 

 

376,731

 

1,214,861

 

None

 

None

 

376,731

 

1,214,861

 

1,591,592

 

240,947

 

 

 

1/22/2013

 

300

Garfield

 

NJ

 

 

 

372,910

 

1,202,541

 

None

 

None

 

372,910

 

1,202,541

 

1,575,451

 

238,504

 

 

 

1/22/2013

 

300

Green Brook

 

NJ

 

 

 

319,003

 

1,028,702

 

None

 

None

 

319,003

 

1,028,702

 

1,347,705

 

204,026

 

 

 

1/22/2013

 

300

Haddonfield

 

NJ

 

 

 

312,763

 

1,008,581

 

None

 

None

 

312,763

 

1,008,581

 

1,321,344

 

200,035

 

 

 

1/22/2013

 

300

Kearny

 

NJ

 

 

 

278,653

 

898,584

 

None

 

None

 

278,653

 

898,584

 

1,177,237

 

178,219

 

 

 

1/22/2013

 

300

Lawrenceville

 

NJ

 

 

 

459,146

 

1,480,629

 

None

 

None

 

459,146

 

1,480,629

 

1,939,775

 

293,658

 

 

 

1/22/2013

 

300

Mahwah

 

NJ

 

 

 

253,447

 

817,302

 

None

 

None

 

253,447

 

817,302

 

1,070,749

 

162,098

 

 

 

1/22/2013

 

300

Martinsville

 

NJ

 

 

 

447,368

 

1,442,647

 

None

 

None

 

447,368

 

1,442,647

 

1,890,015

 

286,125

 

 

 

1/22/2013

 

300

Millstone Townshi

 

NJ

 

 

 

270,310

 

871,681

 

None

 

None

 

270,310

 

871,681

 

1,141,991

 

172,883

 

 

 

1/22/2013

 

300

Mountain Lakes

 

NJ

 

 

 

531,890

 

887,417

 

None

 

None

 

531,890

 

887,417

 

1,419,307

 

176,004

 

 

 

1/22/2013

 

300

Northvale

 

NJ

 

 

 

259,002

 

835,217

 

None

 

None

 

259,002

 

835,217

 

1,094,219

 

165,651

 

 

 

1/22/2013

 

300

Orange

 

NJ

 

 

 

450,522

 

1,452,819

 

None

 

None

 

450,522

 

1,452,819

 

1,903,341

 

288,142

 

 

 

1/22/2013

 

300

Parlin

 

NJ

 

 

 

345,431

 

1,113,926

 

None

 

None

 

345,431

 

1,113,926

 

1,459,357

 

220,929

 

 

 

1/22/2013

 

300

Paterson

 

NJ

 

 

 

122,722

 

395,747

 

None

 

None

 

122,722

 

395,747

 

518,469

 

78,490

 

 

 

1/22/2013

 

300

Paterson

 

NJ

 

 

 

469,318

 

639,560

 

None

 

None

 

469,318

 

639,560

 

1,108,878

 

126,846

 

 

 

1/22/2013

 

300

Pompton Plains

 

NJ

 

 

 

226,298

 

729,755

 

None

 

None

 

226,298

 

729,755

 

956,053

 

144,735

 

 

 

1/22/2013

 

300

Raritan

 

NJ

 

 

 

370,127

 

1,193,564

 

None

 

None

 

370,127

 

1,193,564

 

1,563,691

 

236,724

 

 

 

1/22/2013

 

300

Tenafly

 

NJ

 

 

 

463,499

 

1,494,667

 

None

 

None

 

463,499

 

1,494,667

 

1,958,166

 

296,442

 

 

 

1/22/2013

 

300

Vineland

 

NJ

 

 

 

236,628

 

763,064

 

None

 

None

 

236,628

 

763,064

 

999,692

 

151,341

 

 

 

1/22/2013

 

300

West Orange

 

NJ

 

 

 

174,486

 

562,673

 

None

 

None

 

174,486

 

562,673

 

737,159

 

111,597

 

 

 

1/22/2013

 

300

West Orange

 

NJ

 

 

 

259,916

 

838,164

 

None

 

None

 

259,916

 

838,164

 

1,098,080

 

166,236

 

 

 

1/22/2013

 

300

Westwood

 

NJ

 

 

 

205,094

 

661,375

 

None

 

None

 

205,094

 

661,375

 

866,469

 

131,173

 

 

 

1/22/2013

 

300

Woodland Park

 

NJ

 

 

 

206,695

 

666,539

 

None

 

None

 

206,695

 

666,539

 

873,234

 

132,197

 

 

 

1/22/2013

 

300

Branchburg

 

NJ

 

 

 

376,597

 

1,214,429

 

None

 

None

 

376,597

 

1,214,429

 

1,591,026

 

240,862

 

 

 

1/22/2013

 

300

Albuquerque

 

NM

 

 

 

80,500

 

178,794

 

8,003

 

None

 

80,500

 

186,797

 

267,297

 

186,697

 

 

 

10/29/1987

 

300

Santa Fe

 

NM

 

 

 

70,000

 

155,473

 

None

 

None

 

70,000

 

155,473

 

225,473

 

155,473

 

 

 

10/29/1987

 

300

Stony Point

 

NY

 

 

 

950,455

 

2,963,243

 

None

 

None

 

950,455

 

2,963,243

 

3,913,698

 

587,710

 

 

 

1/22/2013

 

300

Beachwood

 

OH

 

 

 

980,000

 

1,062,628

 

None

 

None

 

980,000

 

1,062,628

 

2,042,628

 

168,249

 

 

 

1/31/2014

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Columbus

 

OH

 

 

 

214,737

 

85,425

 

25,900

 

5,330

 

214,737

 

116,655

 

331,392

 

68,298

 

 

 

9/17/2004

 

300

Dublin

 

OH

 

 

 

2,399,969

 

17,044,099

 

None

 

None

 

2,399,969

 

17,044,099

 

19,444,068

 

4,630,314

 

 

 

3/31/2011

 

300

Euclid

 

OH

 

 

 

130,000

 

1,027,248

 

None

 

None

 

130,000

 

1,027,248

 

1,157,248

 

162,648

 

 

 

1/31/2014

 

300

Groveport

 

OH

 

 

 

277,198

 

445,497

 

53,191

 

11,520

 

277,198

 

510,208

 

787,406

 

415,901

 

 

 

12/21/1995

 

300

Mentor

 

OH

 

 

 

350,000

 

1,276,241

 

None

 

None

 

350,000

 

1,276,241

 

1,626,241

 

202,072

 

 

 

1/31/2014

 

300

Milford

 

OH

 

 

 

353,324

 

269,997

 

(15,631

)

8,576

 

314,484

 

301,782

 

616,266

 

232,460

 

 

 

9/18/1997

 

300

Pepper Pike

 

OH

 

 

 

530,000

 

865,808

 

None

 

None

 

530,000

 

865,808

 

1,395,808

 

137,086

 

 

 

1/31/2014

 

300

Shaker Heights

 

OH

 

 

 

650,000

 

792,759

 

None

 

None

 

650,000

 

792,759

 

1,442,759

 

125,520

 

 

 

1/31/2014

 

300

West Chester

 

OH

 

 

 

618,270

 

1,055,888

 

None

 

None

 

618,270

 

1,055,888

 

1,674,158

 

209,418

 

 

 

1/22/2013

 

300

Ambler

 

PA

 

 

 

1,374,943

 

4,862,810

 

None

 

None

 

1,374,943

 

4,862,810

 

6,237,753

 

964,457

 

 

 

1/22/2013

 

300

Blairsville

 

PA

 

 

 

297,140

 

958,202

 

(727,020

)

None

 

297,140

 

231,182

 

528,322

 

190,860

 

 

 

1/22/2013

 

300

Clarks Summit

 

PA

 

 

 

165,407

 

533,394

 

None

 

None

 

165,407

 

533,394

 

698,801

 

105,790

 

 

 

1/22/2013

 

300

Dillsburg

 

PA

 

 

 

157,114

 

506,653

 

None

 

None

 

157,114

 

506,653

 

663,767

 

100,486

 

 

 

1/22/2013

 

300

Harleysville

 

PA

 

 

 

1,486,141

 

16,590,526

 

None

 

None

 

1,486,141

 

16,590,526

 

18,076,667

 

3,290,454

 

 

 

1/22/2013

 

300

Lansdale

 

PA

 

 

 

582,679

 

1,878,990

 

None

 

None

 

582,679

 

1,878,990

 

2,461,669

 

372,666

 

 

 

1/22/2013

 

300

Lansford

 

PA

 

 

 

724,643

 

2,336,788

 

None

 

None

 

724,643

 

2,336,788

 

3,061,431

 

463,463

 

 

 

1/22/2013

 

300

Lehighton

 

PA

 

 

 

353,743

 

1,140,729

 

None

 

None

 

353,743

 

1,140,729

 

1,494,472

 

226,245

 

 

 

1/22/2013

 

300

Limerick

 

PA

 

 

 

1,198,208

 

1,141,397

 

None

 

None

 

1,198,208

 

1,141,397

 

2,339,605

 

226,377

 

 

 

1/22/2013

 

300

Media

 

PA

 

 

 

93,870

 

302,705

 

None

 

None

 

93,870

 

302,705

 

396,575

 

60,037

 

 

 

1/22/2013

 

300

Media

 

PA

 

 

 

312,084

 

1,006,391

 

None

 

None

 

312,084

 

1,006,391

 

1,318,475

 

199,601

 

 

 

1/22/2013

 

300

North Wales

 

PA

 

 

 

658,040

 

2,122,012

 

None

 

None

 

658,040

 

2,122,012

 

2,780,052

 

420,866

 

 

 

1/22/2013

 

300

Palmerton

 

PA

 

 

 

1,152,944

 

3,717,949

 

None

 

None

 

1,152,944

 

3,717,949

 

4,870,893

 

737,393

 

 

 

1/22/2013

 

300

Philadelphia

 

PA

 

 

 

680,814

 

938,913

 

None

 

None

 

680,814

 

938,913

 

1,619,727

 

186,218

 

 

 

1/22/2013

 

300

Philadelphia

 

PA

 

 

 

287,110

 

925,857

 

None

 

None

 

287,110

 

925,857

 

1,212,967

 

183,628

 

 

 

1/22/2013

 

300

Philadelphia

 

PA

 

 

 

300,032

 

967,528

 

None

 

None

 

300,032

 

967,528

 

1,267,560

 

191,893

 

 

 

1/22/2013

 

300

Philadelphia

 

PA

 

 

 

200,022

 

645,020

 

None

 

None

 

200,022

 

645,020

 

845,042

 

127,929

 

 

 

1/22/2013

 

300

Philadelphia

 

PA

 

 

 

130,580

 

421,086

 

None

 

None

 

130,580

 

421,086

 

551,666

 

83,515

 

 

 

1/22/2013

 

300

Philadelphia

 

PA

 

 

 

270,560

 

872,488

 

None

 

None

 

270,560

 

872,488

 

1,143,048

 

173,043

 

 

 

1/22/2013

 

300

Pittsburgh

 

PA

 

 

 

203,808

 

657,230

 

None

 

None

 

203,808

 

657,230

 

861,038

 

130,351

 

 

 

1/22/2013

 

300

Sellersville

 

PA

 

 

 

436,843

 

1,408,706

 

None

 

None

 

436,843

 

1,408,706

 

1,845,549

 

279,393

 

 

 

1/22/2013

 

300

Skippack

 

PA

 

 

 

484,437

 

1,562,185

 

None

 

None

 

484,437

 

1,562,185

 

2,046,622

 

309,833

 

 

 

1/22/2013

 

300

Slatington

 

PA

 

 

 

467,608

 

1,507,917

 

None

 

None

 

467,608

 

1,507,917

 

1,975,525

 

299,070

 

 

 

1/22/2013

 

300

Slatington

 

PA

 

 

 

1,331,882

 

4,294,979

 

None

 

None

 

1,331,882

 

4,294,979

 

5,626,861

 

851,838

 

 

 

1/22/2013

 

300

Somerset

 

PA

 

 

 

369,856

 

1,192,691

 

None

 

None

 

369,856

 

1,192,691

 

1,562,547

 

236,550

 

 

 

1/22/2013

 

300

Summit Hill

 

PA

 

 

 

94,816

 

2,266,101

 

None

 

None

 

94,816

 

2,266,101

 

2,360,917

 

449,443

 

 

 

1/22/2013

 

300

Swarthmore

 

PA

 

 

 

165,423

 

533,447

 

None

 

None

 

165,423

 

533,447

 

698,870

 

105,800

 

 

 

1/22/2013

 

300

Tannersville

 

PA

 

 

 

277,284

 

894,170

 

None

 

None

 

277,284

 

894,170

 

1,171,454

 

177,344

 

 

 

1/22/2013

 

300

Walnutport

 

PA

 

 

 

1,068,012

 

1,437,132

 

None

 

None

 

1,068,012

 

1,437,132

 

2,505,144

 

285,031

 

 

 

1/22/2013

 

300

Warren

 

PA

 

 

 

253,725

 

818,198

 

None

 

None

 

253,725

 

818,198

 

1,071,923

 

162,276

 

 

 

1/22/2013

 

300

Wyomissing

 

PA

 

 

 

553,724

 

1,785,618

 

None

 

None

 

553,724

 

1,785,618

 

2,339,342

 

354,147

 

 

 

1/22/2013

 

300

Mount Pleasant

 

SC

 

13,800,000

 

10,803,051

 

25,511,279

 

None

 

None

 

10,803,051

 

25,511,279

 

36,314,330

 

3,614,098

 

 

 

1/22/2013

 

420

Lubbock

 

TX

 

 

 

49,000

 

108,831

 

57,941

 

6,264

 

49,000

 

173,036

 

222,036

 

152,038

 

 

 

10/29/1987

 

300

Pasadena

 

TX

 

 

 

385,199

 

716,468

 

None

 

None

 

385,199

 

716,468

 

1,101,667

 

283,005

 

 

 

2/1/2008

 

300

Appleton

 

WI

 

 

 

265,269

 

1,467,513

 

None

 

None

 

265,269

 

1,467,513

 

1,732,782

 

66,038

 

 

 

11/9/2016

 

300

Ashland

 

WI

 

 

 

400,000

 

1,490,432

 

None

 

None

 

400,000

 

1,490,432

 

1,890,432

 

67,069

 

 

 

11/9/2016

 

300

Brookfield

 

WI

 

 

 

275,556

 

1,524,426

 

None

 

None

 

275,556

 

1,524,426

 

1,799,982

 

68,599

 

 

 

11/9/2016

 

300

Burlington

 

WI

 

 

 

290,000

 

1,805,776

 

None

 

None

 

290,000

 

1,805,776

 

2,095,776

 

81,260

 

 

 

11/9/2016

 

300

Cedarburg

 

WI

 

 

 

275,657

 

1,524,983

 

None

 

None

 

275,657

 

1,524,983

 

1,800,640

 

68,624

 

 

 

11/9/2016

 

300

Delafield

 

WI

 

 

 

581,097

 

1,973,285

 

None

 

None

 

581,097

 

1,973,285

 

2,554,382

 

88,798

 

 

 

11/9/2016

 

300

Delavan

 

WI

 

 

 

350,000

 

731,920

 

None

 

None

 

350,000

 

731,920

 

1,081,920

 

32,936

 

 

 

11/9/2016

 

300

DePere

 

WI

 

 

 

152,366

 

842,914

 

None

 

None

 

152,366

 

842,914

 

995,280

 

37,931

 

 

 

11/9/2016

 

300

Eagle River

 

WI

 

 

 

450,000

 

1,471,232

 

None

 

None

 

450,000

 

1,471,232

 

1,921,232

 

66,205

 

 

 

11/9/2016

 

300

Fitchburg

 

WI

 

 

 

211,507

 

1,170,093

 

None

 

None

 

211,507

 

1,170,093

 

1,381,600

 

52,654

 

 

 

11/9/2016

 

300

Fond du Lac

 

WI

 

 

 

193,288

 

1,069,304

 

None

 

None

 

193,288

 

1,069,304

 

1,262,592

 

48,119

 

 

 

11/9/2016

 

300

Fox Point

 

WI

 

 

 

274,237

 

1,517,128

 

None

 

None

 

274,237

 

1,517,128

 

1,791,365

 

68,271

 

 

 

11/9/2016

 

300

Green Bay

 

WI

 

 

 

293,789

 

1,625,293

 

None

 

None

 

293,789

 

1,625,293

 

1,919,082

 

73,138

 

 

 

11/9/2016

 

300

Green Bay

 

WI

 

 

 

339,237

 

1,876,720

 

None

 

None

 

339,237

 

1,876,720

 

2,215,957

 

84,452

 

 

 

11/9/2016

 

300

Greendale

 

WI

 

 

 

1,270,000

 

2,936,482

 

None

 

None

 

1,270,000

 

2,936,482

 

4,206,482

 

132,142

 

 

 

11/9/2016

 

300

Janesville

 

WI

 

 

 

130,000

 

564,880

 

None

 

None

 

130,000

 

564,880

 

694,880

 

25,420

 

 

 

11/9/2016

 

300

La Crosse

 

WI

 

 

 

194,725

 

1,077,254

 

None

 

None

 

194,725

 

1,077,254

 

1,271,979

 

48,476

 

 

 

11/9/2016

 

300

Marshfield

 

WI

 

 

 

420,000

 

792,148

 

None

 

None

 

420,000

 

792,148

 

1,212,148

 

35,647

 

 

 

11/9/2016

 

300

Mequon

 

WI

 

 

 

533,480

 

2,951,302

 

None

 

None

 

533,480

 

2,951,302

 

3,484,782

 

132,809

 

 

 

11/9/2016

 

300

Milwaukee

 

WI

 

 

 

265,985

 

495,071

 

None

 

None

 

265,985

 

495,071

 

761,056

 

195,553

 

 

 

2/1/2008

 

300

Muskego

 

WI

 

 

 

224,464

 

1,241,776

 

None

 

None

 

224,464

 

1,241,776

 

1,466,240

 

55,880

 

 

 

11/9/2016

 

300

Oak Creek

 

WI

 

 

 

273,122

 

1,510,960

 

None

 

None

 

273,122

 

1,510,960

 

1,784,082

 

67,993

 

 

 

11/9/2016

 

300

Oregon

 

WI

 

 

 

393,490

 

1,066,830

 

None

 

None

 

393,490

 

1,066,830

 

1,460,320

 

48,007

 

 

 

11/9/2016

 

300

Pleasant Prairie

 

WI

 

 

 

172,510

 

954,353

 

None

 

None

 

172,510

 

954,353

 

1,126,863

 

42,946

 

 

 

11/9/2016

 

300

Racine

 

WI

 

 

 

217,944

 

1,205,704

 

None

 

None

 

217,944

 

1,205,704

 

1,423,648

 

54,257

 

 

 

11/9/2016

 

300

Salem

 

WI

 

 

 

312,895

 

848,321

 

None

 

None

 

312,895

 

848,321

 

1,161,216

 

38,174

 

 

 

11/9/2016

 

300

Saukville

 

WI

 

 

 

163,312

 

903,470

 

None

 

None

 

163,312

 

903,470

 

1,066,782

 

49,691

 

 

 

11/9/2016

 

300

Sussex

 

WI

 

 

 

201,136

 

1,112,720

 

None

 

None

 

201,136

 

1,112,720

 

1,313,856

 

50,072

 

 

 

11/9/2016

 

300

Thiensville

 

WI

 

 

 

321,236

 

1,777,132

 

None

 

None

 

321,236

 

1,777,132

 

2,098,368

 

79,971

 

 

 

11/9/2016

 

300

Verona

 

WI

 

 

 

180,000

 

1,394,112

 

None

 

None

 

180,000

 

1,394,112

 

1,574,112

 

62,735

 

 

 

11/9/2016

 

300

Waukesha

 

WI

 

 

 

307,638

 

1,701,910

 

None

 

None

 

307,638

 

1,701,910

 

2,009,548

 

76,586

 

 

 

11/9/2016

 

300

Waukesha

 

WI

 

 

 

246,467

 

1,363,501

 

None

 

None

 

246,467

 

1,363,501

 

1,609,968

 

61,358

 

 

 

11/9/2016

 

300

West Allis

 

WI

 

 

 

303,615

 

1,679,650

 

None

 

None

 

303,615

 

1,679,650

 

1,983,265

 

75,584

 

 

 

11/9/2016

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Food processing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cedar Rapids

 

IA

 

29,307,500

 

1,784,980

 

36,815,951

 

None

 

None

 

1,784,980

 

36,815,951

 

38,600,931

 

7,792,710

 

 

 

9/26/2012

 

300

Weldon Springs

 

MO

 

 

 

3,675,034

 

13,827,581

 

None

 

None

 

3,675,034

 

13,827,581

 

17,502,615

 

3,710,401

 

 

 

4/1/2011

 

300

York

 

NE

 

 

 

450,000

 

7,442,416

 

None

 

None

 

450,000

 

7,442,416

 

7,892,416

 

859,615

 

 

 

12/13/2013

 

420

Oklahoma City

 

OK

 

 

 

201,507

 

1,828,803

 

None

 

None

 

201,507

 

1,828,803

 

2,030,310

 

259,080

 

 

 

1/22/2013

 

420

Memphis

 

TN

 

 

 

1,568,476

 

13,510,652

 

42,601

 

None

 

1,568,476

 

13,553,253

 

15,121,729

 

1,930,180

 

 

 

12/20/2012

 

420

Weslaco

 

TX

 

 

 

207,384

 

1,882,135

 

None

 

None

 

207,384

 

1,882,135

 

2,089,519

 

266,636

 

 

 

1/22/2013

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General merchandise

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Demopolis

 

AL

 

 

 

658,601

 

2,140,452

 

14,135

 

None

 

658,601

 

2,154,587

 

2,813,188

 

438,099

 

 

 

1/22/2013

 

300

Batesville

 

AR

 

 

 

360,000

 

1,839,677

 

None

 

None

 

360,000

 

1,839,677

 

2,199,677

 

340,340

 

 

 

5/23/2013

 

300

Blytheville

 

AR

 

 

 

772,319

 

15,370,177

 

None

 

None

 

772,319

 

15,370,177

 

16,142,496

 

3,048,419

 

 

 

1/22/2013

 

300

Hot Springs

 

AR

 

 

 

413,337

 

1,865,839

 

143,935

 

None

 

413,337

 

2,009,774

 

2,423,111

 

153,403

 

 

 

1/15/2016

 

300

Coolidge

 

AZ

 

 

 

380,000

 

1,865,375

 

134,700

 

None

 

380,000

 

2,000,075

 

2,380,075

 

235,541

 

 

 

12/11/2014

 

300

Douglas

 

AZ

 

 

 

320,000

 

2,812,308

 

None

 

None

 

320,000

 

2,812,308

 

3,132,308

 

370,287

 

 

 

9/24/2014

 

300

Sonora

 

CA

 

 

 

1,199,554

 

3,898,549

 

18,956

 

None

 

1,199,554

 

3,917,505

 

5,117,059

 

777,396

 

 

 

1/22/2013

 

300

Tustin

 

CA

 

 

 

10,530,000

 

9,883,431

 

None

 

None

 

10,530,000

 

9,883,431

 

20,413,431

 

1,334,263

 

 

 

8/19/2014

 

300

Monte Vista

 

CO

 

 

 

47,652

 

582,159

 

58,774

 

1,584

 

47,652

 

642,517

 

690,169

 

457,755

 

 

 

12/23/1998

 

300

Pawcatuck

 

CT

 

 

 

1,090,816

 

3,545,153

 

13,565

 

None

 

1,090,816

 

3,558,718

 

4,649,534

 

716,687

 

 

 

1/22/2013

 

300

Fort Myers

 

FL

 

 

 

957,428

 

777,883

 

None

 

None

 

957,428

 

777,883

 

1,735,311

 

-     

 

In-progress

 

12/21/2017

 

N/A

North Ft Myers

 

FL

 

 

 

729,366

 

3,292,417

 

None

 

None

 

729,366

 

3,292,417

 

4,021,783

 

334,729

 

 

 

6/4/2015

 

300

Orange Park

 

FL

 

 

 

478,314

 

618,348

 

138,348

 

None

 

478,314

 

756,696

 

1,235,010

 

556,195

 

 

 

12/31/1998

 

300

Orlando

 

FL

 

 

 

1,420,000

 

3,062,831

 

None

 

None

 

1,420,000

 

3,062,831

 

4,482,831

 

66,361

 

 

 

6/30/2017

 

300

Austell

 

GA

 

 

 

6,020,000

 

11,970,530

 

None

 

None

 

6,020,000

 

11,970,530

 

17,990,530

 

498,772

 

 

 

12/1/2016

 

300

Madison

 

GA

 

 

 

597,637

 

1,942,320

 

20,582

 

None

 

597,637

 

1,962,902

 

2,560,539

 

401,352

 

 

 

1/22/2013

 

300

Clarinda

 

IA

 

 

 

439,267

 

816,010

 

16,832

 

25,838

 

439,267

 

858,680

 

1,297,947

 

386,666

 

 

 

5/25/2006

 

300

Columbia City

 

IN

 

 

 

470,000

 

1,319,981

 

None

 

None

 

470,000

 

1,319,981

 

1,789,981

 

81,399

 

 

 

6/30/2016

 

300

Greensburg

 

IN

 

 

 

1,970,000

 

9,022,549

 

None

 

None

 

1,970,000

 

9,022,549

 

10,992,549

 

375,940

 

 

 

12/2/2016

 

300

Garnett

 

KS

 

 

 

59,690

 

628,516

 

90,686

 

38

 

59,690

 

719,240

 

778,930

 

416,924

 

 

 

12/23/1998

 

300

Hillsboro

 

KS

 

 

 

335,292

 

622,914

 

(126,000

)

38

 

335,292

 

496,952

 

832,244

 

283,708

 

 

 

5/25/2006

 

300

Phillipsburg

 

KS

 

 

 

423,725

 

787,146

 

31,216

 

8,938

 

423,725

 

827,300

 

1,251,025

 

369,811

 

 

 

5/25/2006

 

300

Lawrenceburg

 

KY

 

 

 

410,000

 

503,126

 

135,108

 

None

 

410,000

 

638,234

 

1,048,234

 

75,575

 

 

 

12/12/2014

 

300

Maysville

 

KY

 

 

 

1,030,000

 

1,440,622

 

None

 

None

 

1,030,000

 

1,440,622

 

2,470,622

 

266,515

 

 

 

5/28/2013

 

300

Mansura

 

LA

 

 

 

557,316

 

1,811,276

 

11,163

 

None

 

557,316

 

1,822,439

 

2,379,755

 

370,399

 

 

 

1/22/2013

 

300

Oakland

 

MD

 

 

 

990,000

 

2,555,782

 

None

 

None

 

990,000

 

2,555,782

 

3,545,782

 

310,953

 

 

 

12/4/2014

 

300

Pocomoke City

 

MD

 

 

 

1,093,923

 

9,777,743

 

None

 

None

 

1,093,923

 

9,777,743

 

10,871,666

 

48,889

 

 

 

11/27/2017

 

300

Calais

 

ME

 

 

 

440,000

 

2,236,794

 

None

 

None

 

440,000

 

2,236,794

 

2,676,794

 

294,511

 

 

 

9/26/2014

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Coldwater

 

MI

 

 

 

380,000

 

2,589,000

 

None

 

None

 

380,000

 

2,589,000

 

2,969,000

 

211,435

 

 

 

12/16/2015

 

300

Kalamazoo

 

MI

 

 

 

-     

 

2,547,854

 

71,591

 

None

 

-     

 

2,619,445

 

2,619,445

 

522,323

 

 

 

1/22/2013

 

300

St John’s

 

MI

 

 

 

350,000

 

2,292,729

 

None

 

None

 

350,000

 

2,292,729

 

2,642,729

 

278,949

 

 

 

12/12/2014

 

300

Stevensville

 

MI

 

 

 

404,904

 

2,547,727

 

900

 

None

 

404,904

 

2,548,627

 

2,953,531

 

335,929

 

 

 

9/26/2014

 

300

Faribault

 

MN

 

 

 

1,270,000

 

16,730,000

 

None

 

None

 

1,270,000

 

16,730,000

 

18,000,000

 

736,917

 

 

 

6/29/2016

 

420

Paynesville

 

MN

 

 

 

49,483

 

525,406

 

35,306

 

38

 

49,483

 

560,750

 

610,233

 

406,202

 

 

 

12/23/1998

 

300

Rogers

 

MN

 

 

 

1,230,000

 

2,049,498

 

None

 

None

 

1,230,000

 

2,049,498

 

3,279,498

 

51,237

 

 

 

5/10/2017

 

300

Warroad

 

MN

 

 

 

70,000

 

580,000

 

None

 

46

 

70,000

 

580,046

 

650,046

 

441,795

 

 

 

12/23/1998

 

300

Independence

 

MO

 

 

 

210,643

 

467,844

 

None

 

127

 

210,643

 

467,971

 

678,614

 

467,956

 

 

 

7/31/1989

 

300

Kansas City

 

MO

 

 

 

210,070

 

466,571

 

None

 

None

 

210,070

 

466,571

 

676,641

 

466,571

 

 

 

5/13/1988

 

300

Kansas City

 

MO

 

 

 

168,350

 

373,910

 

None

 

None

 

168,350

 

373,910

 

542,260

 

373,910

 

 

 

5/26/1988

 

300

Corinth

 

MS

 

 

 

387,489

 

1,749,157

 

176,639

 

None

 

387,489

 

1,925,796

 

2,313,285

 

285,869

 

 

 

12/4/2013

 

300

Billings

 

MT

 

 

 

617,235

 

2,786,247

 

None

 

None

 

617,235

 

2,786,247

 

3,403,482

 

283,268

 

 

 

6/24/2015

 

300

Glendive

 

MT

 

 

 

567,581

 

2,529,794

 

None

 

None

 

567,581

 

2,529,794

 

3,097,375

 

257,196

 

 

 

6/4/2015

 

300

Greensboro

 

NC

 

 

 

676,201

 

3,052,428

 

None

 

None

 

676,201

 

3,052,428

 

3,728,629

 

381,553

 

 

 

11/17/2014

 

300

Raleigh

 

NC

 

 

 

484,913

 

2,188,937

 

None

 

None

 

484,913

 

2,188,937

 

2,673,850

 

331,989

 

 

 

3/11/2014

 

300

Winston-Salem

 

NC

 

 

 

8,414,599

 

9,299,785

 

None

 

None

 

8,414,599

 

9,299,785

 

17,714,384

 

15,500

 

 

 

12/21/2017

 

300

Mayville

 

ND

 

 

 

59,333

 

565,562

 

160,301

 

5,087

 

59,333

 

730,950

 

790,283

 

439,557

 

 

 

12/23/1998

 

300

Ainsworth

 

NE

 

 

 

362,675

 

673,768

 

None

 

94

 

362,675

 

673,862

 

1,036,537

 

313,360

 

 

 

5/25/2006

 

300

Imperial

 

NE

 

 

 

388,599

 

721,914

 

146,288

 

38

 

388,599

 

868,240

 

1,256,839

 

354,333

 

 

 

6/28/2006

 

300

Bloomfield

 

NM

 

 

 

59,559

 

616,252

 

14,805

 

84

 

59,559

 

631,141

 

690,700

 

478,540

 

 

 

12/23/1998

 

300

Clovis

 

NM

 

 

 

50,000

 

918,965

 

33,694

 

None

 

50,000

 

952,659

 

1,002,659

 

143,945

 

 

 

6/30/2014

 

300

Alliance

 

OH

 

 

 

4,140,000

 

10,084,855

 

None

 

None

 

4,140,000

 

10,084,855

 

14,224,855

 

218,505

 

 

 

6/29/2017

 

300

Pickerington

 

OH

 

 

 

317,010

 

1,431,011

 

None

 

None

 

317,010

 

1,431,011

 

1,748,021

 

202,727

 

 

 

6/12/2014

 

300

Edmond

 

OK

 

 

 

1,390,000

 

3,009,650

 

284,935

 

None

 

1,390,000

 

3,294,585

 

4,684,585

 

931,561

 

 

 

10/22/2010

 

300

Milwaukie

 

OR

 

 

 

180,250

 

400,336

 

49,088

 

58

 

180,250

 

449,482

 

629,732

 

441,993

 

 

 

8/6/1987

 

300

Dubois

 

PA

 

1,363,003

 

682,202

 

2,217,155

 

10,440

 

None

 

682,202

 

2,227,595

 

2,909,797

 

444,303

 

 

 

1/22/2013

 

300

Ebensburg

 

PA

 

 

 

581,699

 

16,421,564

 

None

 

None

 

581,699

 

16,421,564

 

17,003,263

 

3,256,943

 

 

 

1/22/2013

 

300

Elizabethville

 

PA

 

1,267,354

 

691,197

 

2,246,390

 

5,000

 

None

 

691,197

 

2,251,390

 

2,942,587

 

450,534

 

 

 

1/22/2013

 

300

Mansfield

 

PA

 

1,267,354

 

759,190

 

2,467,367

 

3,651

 

None

 

759,190

 

2,471,018

 

3,230,208

 

492,044

 

 

 

1/22/2013

 

300

Milford

 

PA

 

 

 

438,715

 

1,955,421

 

104,700

 

None

 

438,715

 

2,060,121

 

2,498,836

 

204,690

 

 

 

6/9/2015

 

300

Providence

 

RI

 

 

 

2,550,000

 

21,717,123

 

24,938

 

None

 

2,550,000

 

21,742,061

 

24,292,061

 

2,460,721

 

 

 

1/31/2014

 

420

Florence

 

SC

 

 

 

712,114

 

2,314,371

 

13,000

 

None

 

712,114

 

2,327,371

 

3,039,485

 

471,081

 

 

 

1/22/2013

 

300

Greenville

 

SC

 

 

 

4,622,653

 

12,451,202

 

None

 

None

 

4,622,653

 

12,451,202

 

17,073,855

 

62,256

 

 

 

11/29/2017

 

300

Athens

 

TN

 

 

 

290,000

 

1,948,179

 

None

 

None

 

290,000

 

1,948,179

 

2,238,179

 

263,004

 

 

 

8/18/2014

 

300

Carthage

 

TN

 

 

 

555,547

 

2,476,158

 

128,226

 

None

 

555,547

 

2,604,384

 

3,159,931

 

210,261

 

 

 

12/17/2015

 

300

Johnson City

 

TN

 

 

 

1,460,000

 

1,608,119

 

None

 

None

 

1,460,000

 

1,608,119

 

3,068,119

 

61,645

 

 

 

1/11/2017

 

300

Memphis

 

TN

 

 

 

197,708

 

507,647

 

17,670

 

23,118

 

197,708

 

548,435

 

746,143

 

430,685

 

 

 

9/30/1998

 

300

Murfreesboro

 

TN

 

 

 

1,010,000

 

2,797,770

 

None

 

None

 

1,010,000

 

2,797,770

 

3,807,770

 

172,529

 

 

 

6/20/2016

 

300

Coleman

 

TX

 

 

 

243,060

 

451,661

 

14,375

 

41,385

 

243,060

 

507,421

 

750,481

 

215,439

 

 

 

5/25/2006

 

300

Colorado City

 

TX

 

 

 

92,535

 

505,276

 

63,690

 

84

 

92,535

 

569,050

 

661,585

 

391,417

 

 

 

12/23/1998

 

300

Devine

 

TX

 

 

 

212,408

 

394,735

 

39,377

 

101

 

212,408

 

434,213

 

646,621

 

192,742

 

 

 

5/25/2006

 

300

New Boston

 

TX

 

 

 

564,285

 

1,833,926

 

51,100

 

None

 

564,285

 

1,885,026

 

2,449,311

 

387,724

 

 

 

1/22/2013

 

300

Orange

 

TX

 

 

 

492,842

 

2,224,730

 

None

 

None

 

492,842

 

2,224,730

 

2,717,572

 

359,665

 

 

 

12/20/2013

 

300

Presidio

 

TX

 

 

 

407,657

 

757,362

 

None

 

15,300

 

407,657

 

772,662

 

1,180,319

 

355,257

 

 

 

5/25/2006

 

300

Winnsboro

 

TX

 

 

 

94,380

 

1,299,056

 

8,500

 

41,151

 

94,380

 

1,348,707

 

1,443,087

 

584,283

 

10/19/2006

 

9/7/2006

 

300

Yoakum

 

TX

 

 

 

390,147

 

724,821

 

35,515

 

87

 

390,147

 

760,423

 

1,150,570

 

340,356

 

 

 

5/25/2006

 

300

Salem

 

UT

 

 

 

439,889

 

1,985,696

 

152,529

 

None

 

439,889

 

2,138,225

 

2,578,114

 

212,941

 

 

 

5/21/2015

 

300

Salem

 

VA

 

 

 

670,000

 

1,870,698

 

None

 

None

 

670,000

 

1,870,698

 

2,540,698

 

115,360

 

 

 

6/29/2016

 

300

Puyallup

 

WA

 

 

 

173,250

 

384,795

 

None

 

22,814

 

173,250

 

407,609

 

580,859

 

407,609

 

 

 

9/15/1987

 

300

Redmond

 

WA

 

 

 

196,000

 

435,317

 

42,356

 

29,168

 

196,000

 

506,841

 

702,841

 

480,810

 

 

 

9/17/1987

 

300

Tacoma

 

WA

 

 

 

189,000

 

419,777

 

None

 

19,146

 

189,000

 

438,923

 

627,923

 

438,922

 

 

 

8/25/1987

 

300

Green Bay

 

WI

 

 

 

1,510,000

 

5,852,883

 

None

 

None

 

1,510,000

 

5,852,883

 

7,362,883

 

1,063,274

 

 

 

6/25/2013

 

300

Sussex

 

WI

 

 

 

650,000

 

7,106,415

 

33,439

 

None

 

650,000

 

7,139,854

 

7,789,854

 

1,291,347

 

 

 

6/25/2013

 

300

Ronceverte

 

WV

 

1,363,003

 

772,945

 

2,512,071

 

5,445

 

None

 

772,945

 

2,517,516

 

3,290,461

 

499,465

 

 

 

1/22/2013

 

300

Douglas

 

WY

 

 

 

571,162

 

2,545,759

 

1,650

 

None

 

571,162

 

2,547,409

 

3,118,571

 

259,352

 

 

 

6/4/2015

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sierra Vista

 

AZ

 

 

 

368,655

 

9,028,151

 

275,775

 

None

 

368,655

 

9,303,926

 

9,672,581

 

1,362,514

 

 

 

1/22/2013

 

420

El Centro

 

CA

 

 

 

520,000

 

2,185,899

 

None

 

None

 

520,000

 

2,185,899

 

2,705,899

 

724,990

 

 

 

9/17/2009

 

300

Redding

 

CA

 

 

 

675,805

 

20,005,327

 

292,149

 

None

 

675,805

 

20,297,476

 

20,973,281

 

2,966,684

 

 

 

1/22/2013

 

420

Colorado Springs

 

CO

 

 

 

672,578

 

9,520,731

 

370,394

 

None

 

672,578

 

9,891,125

 

10,563,703

 

1,491,853

 

 

 

1/22/2013

 

420

New Port Richey

 

FL

 

 

 

779,626

 

9,708,313

 

150,459

 

None

 

779,626

 

9,858,772

 

10,638,398

 

1,412,310

 

 

 

1/22/2013

 

420

Sioux City

 

IA

 

 

 

77,340

 

4,538,558

 

175,759

 

None

 

77,340

 

4,714,317

 

4,791,657

 

663,701

 

 

 

1/22/2013

 

420

Caldwell

 

ID

 

 

 

666,412

 

2,891,593

 

29,913

 

None

 

666,412

 

2,921,506

 

3,587,918

 

420,607

 

 

 

1/22/2013

 

420

Minneapolis

 

MN

 

 

 

1,045,866

 

8,587,804

 

None

 

None

 

1,045,866

 

8,587,804

 

9,633,670

 

1,216,606

 

 

 

1/22/2013

 

420

Malone

 

NY

 

 

 

823,630

 

9,270,887

 

115,299

 

None

 

823,630

 

9,386,186

 

10,209,816

 

1,332,722

 

 

 

1/22/2013

 

420

Knoxville

 

TN

 

 

 

760,745

 

8,994,542

 

17,310

 

None

 

760,745

 

9,011,852

 

9,772,597

 

1,282,333

 

 

 

1/22/2013

 

420

Brownsville

 

TX

 

 

 

320,661

 

6,564,200

 

21,941

 

None

 

320,661

 

6,586,141

 

6,906,802

 

931,074

 

 

 

1/22/2013

 

420

Dallas

 

TX

 

 

 

399,222

 

9,540,572

 

4,139

 

None

 

399,222

 

9,544,711

 

9,943,933

 

1,354,491

 

 

 

1/22/2013

 

420

Eagle Pass

 

TX

 

 

 

146,259

 

1,880,444

 

187,465

 

None

 

146,259

 

2,067,909

 

2,214,168

 

324,465

 

 

 

1/22/2013

 

420

Eagle Pass

 

TX

 

 

 

68,097

 

708,427

 

92,549

 

None

 

68,097

 

800,976

 

869,073

 

128,136

 

 

 

1/22/2013

 

420

Paris

 

TX

 

 

 

274,223

 

5,385,490

 

1,750

 

None

 

274,223

 

5,387,240

 

5,661,463

 

764,009

 

 

 

1/22/2013

 

420

Parkersburg

 

WV

 

 

 

494,436

 

12,703,842

 

26,020

 

None

 

494,436

 

12,729,862

 

13,224,298

 

1,810,808

 

 

 

1/22/2013

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grocery stores

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Montgomery

 

AL

 

 

 

1,620,000

 

7,788,810

 

1,000

 

None

 

1,620,000

 

7,789,810

 

9,409,810

 

246,721

 

 

 

3/22/2017

 

300

Phenix City

 

AL

 

 

 

2,451,765

 

8,591,273

 

None

 

None

 

2,451,765

 

8,591,273

 

11,043,038

 

14,319

 

 

 

12/28/2017

 

300

Mesa

 

AZ

 

 

 

807,252

 

1,499,183

 

None

 

None

 

807,252

 

1,499,183

 

2,306,435

 

362,303

 

 

 

12/21/2011

 

300

Phoenix

 

AZ

 

 

 

664,796

 

1,234,621

 

None

 

None

 

664,796

 

1,234,621

 

1,899,417

 

298,367

 

 

 

12/21/2011

 

300

Phoenix

 

AZ

 

 

 

546,083

 

1,014,153

 

None

 

None

 

546,083

 

1,014,153

 

1,560,236

 

245,087

 

 

 

12/21/2011

 

300

Yuma

 

AZ

 

 

 

783,510

 

1,455,089

 

None

 

None

 

783,510

 

1,455,089

 

2,238,599

 

351,647

 

 

 

12/21/2011

 

300

Buena Park

 

CA

 

 

 

2,136,844

 

3,968,425

 

None

 

None

 

2,136,844

 

3,968,425

 

6,105,269

 

959,036

 

 

 

12/21/2011

 

300

Burbank

 

CA

 

 

 

2,193,827

 

4,074,250

 

None

 

None

 

2,193,827

 

4,074,250

 

6,268,077

 

984,610

 

 

 

12/21/2011

 

300

Carson

 

CA

 

 

 

949,709

 

1,763,744

 

None

 

None

 

949,709

 

1,763,744

 

2,713,453

 

426,238

 

 

 

12/21/2011

 

300

Chula Vista

 

CA

 

 

 

1,044,679

 

1,940,119

 

None

 

None

 

1,044,679

 

1,940,119

 

2,984,798

 

468,862

 

 

 

12/21/2011

 

300

Cloverdale

 

CA

 

 

 

1,505,000

 

2,795,321

 

None

 

None

 

1,505,000

 

2,795,321

 

4,300,321

 

1,597,992

 

 

 

9/30/2003

 

300

El Centro

 

CA

 

 

 

394,903

 

733,392

 

None

 

None

 

394,903

 

733,392

 

1,128,295

 

177,236

 

 

 

12/21/2011

 

300

Fortuna

 

CA

 

 

 

1,190,000

 

2,210,308

 

None

 

None

 

1,190,000

 

2,210,308

 

3,400,308

 

1,263,559

 

 

 

9/30/2003

 

300

Glendale

 

CA

 

 

 

3,270,797

 

6,074,336

 

None

 

None

 

3,270,797

 

6,074,336

 

9,345,133

 

1,467,965

 

 

 

12/21/2011

 

300

Hanford

 

CA

 

 

 

1,234,621

 

2,292,868

 

None

 

None

 

1,234,621

 

2,292,868

 

3,527,489

 

554,110

 

 

 

12/21/2011

 

300

Inglewood

 

CA

 

 

 

1,661,990

 

3,086,553

 

None

 

None

 

1,661,990

 

3,086,553

 

4,748,543

 

745,917

 

 

 

12/21/2011

 

300

Los Angeles

 

CA

 

 

 

712,282

 

1,322,809

 

None

 

None

 

712,282

 

1,322,809

 

2,035,091

 

319,679

 

 

 

12/21/2011

 

300

Los Angeles

 

CA

 

 

 

1,424,563

 

2,645,617

 

None

 

None

 

1,424,563

 

2,645,617

 

4,070,180

 

639,357

 

 

 

12/21/2011

 

300

Los Angeles

 

CA

 

 

 

1,576,516

 

2,927,816

 

None

 

None

 

1,576,516

 

2,927,816

 

4,504,332

 

707,555

 

 

 

12/21/2011

 

300

Los Angeles

 

CA

 

 

 

1,638,247

 

3,042,460

 

None

 

None

 

1,638,247

 

3,042,460

 

4,680,707

 

735,261

 

 

 

12/21/2011

 

300

Los Angeles

 

CA

 

 

 

1,994,388

 

3,703,864

 

None

 

None

 

1,994,388

 

3,703,864

 

5,698,252

 

895,100

 

 

 

12/21/2011

 

300

Los Angeles

 

CA

 

 

 

3,111,111

 

5,777,778

 

None

 

None

 

3,111,111

 

5,777,778

 

8,888,889

 

1,396,296

 

 

 

12/21/2011

 

300

Monrovia

 

CA

 

 

 

1,139,650

 

2,116,494

 

None

 

None

 

1,139,650

 

2,116,494

 

3,256,144

 

511,486

 

 

 

12/21/2011

 

300

North Hollywood

 

CA

 

 

 

4,036,263

 

7,495,917

 

None

 

None

 

4,036,263

 

7,495,917

 

11,532,180

 

1,811,513

 

 

 

12/21/2011

 

300

Oakland

 

CA

 

 

 

2,374,272

 

4,409,361

 

None

 

None

 

2,374,272

 

4,409,361

 

6,783,633

 

1,065,596

 

 

 

12/21/2011

 

300

Pacoima

 

CA

 

 

 

949,709

 

1,763,744

 

None

 

None

 

949,709

 

1,763,744

 

2,713,453

 

426,238

 

 

 

12/21/2011

 

300

Pasadena

 

CA

 

 

 

2,113,102

 

3,924,331

 

None

 

None

 

2,113,102

 

3,924,331

 

6,037,433

 

948,380

 

 

 

12/21/2011

 

300

Redlands

 

CA

 

 

 

1,187,136

 

2,204,680

 

None

 

None

 

1,187,136

 

2,204,680

 

3,391,816

 

532,798

 

 

 

12/21/2011

 

300

Redondo Beach

 

CA

 

 

 

1,306,667

 

2,426,666

 

None

 

None

 

1,306,667

 

2,426,666

 

3,733,333

 

586,444

 

 

 

12/21/2011

 

300

Redwood City

 

CA

 

 

 

1,638,247

 

3,042,460

 

None

 

None

 

1,638,247

 

3,042,460

 

4,680,707

 

735,261

 

 

 

12/21/2011

 

300

Riverside

 

CA

 

 

 

1,068,422

 

1,984,213

 

None

 

None

 

1,068,422

 

1,984,213

 

3,052,635

 

479,518

 

 

 

12/21/2011

 

300

Sacramento

 

CA

 

 

 

759,767

 

1,410,995

 

None

 

None

 

759,767

 

1,410,995

 

2,170,762

 

340,991

 

 

 

12/21/2011

 

300

Sacramento

 

CA

 

 

 

1,139,650

 

2,116,494

 

None

 

None

 

1,139,650

 

2,116,494

 

3,256,144

 

511,486

 

 

 

12/21/2011

 

300

Salinas

 

CA

 

 

 

1,044,679

 

1,940,119

 

None

 

None

 

1,044,679

 

1,940,119

 

2,984,798

 

468,862

 

 

 

12/21/2011

 

300

San Diego

 

CA

 

 

 

1,633,333

 

3,033,334

 

None

 

None

 

1,633,333

 

3,033,334

 

4,666,667

 

733,056

 

 

 

12/21/2011

 

300

Stockton

 

CA

 

 

 

1,424,563

 

2,645,617

 

None

 

None

 

1,424,563

 

2,645,617

 

4,070,180

 

639,357

 

 

 

12/21/2011

 

300

Thousand Oaks

 

CA

 

 

 

2,018,131

 

3,747,957

 

None

 

None

 

2,018,131

 

3,747,957

 

5,766,088

 

905,756

 

 

 

12/21/2011

 

300

Boulder

 

CO

 

 

 

426,675

 

1,199,508

 

None

 

600

 

426,675

 

1,200,108

 

1,626,783

 

1,112,480

 

 

 

1/5/1984

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pueblo

 

CO

 

 

 

1,700,000

 

8,440,070

 

1,000

 

None

 

1,700,000

 

8,441,070

 

10,141,070

 

492,479

 

 

 

7/29/2016

 

300

Wilmington

 

DE

 

4,825,479

 

1,020,000

 

5,192,590

 

None

 

None

 

1,020,000

 

5,192,590

 

6,212,590

 

752,926

 

 

 

5/9/2014

 

300

Orlando

 

FL

 

 

 

1,530,000

 

9,749,600

 

245,067

 

None

 

1,530,000

 

9,994,667

 

11,524,667

 

213,934

 

 

 

6/30/2017

 

300

Tampa

 

FL

 

 

 

2,610,000

 

5,769,576

 

145,462

 

None

 

2,610,000

 

5,915,038

 

8,525,038

 

1,739,966

 

 

 

10/22/2010

 

300

Albany

 

GA

 

 

 

2,190,000

 

8,689,607

 

1,000

 

None

 

2,190,000

 

8,690,607

 

10,880,607

 

449,088

 

 

 

9/19/2016

 

300

Athens

 

GA

 

 

 

2,190,000

 

9,423,928

 

1,000

 

None

 

2,190,000

 

9,424,928

 

11,614,928

 

487,028

 

 

 

9/19/2016

 

300

Augusta

 

GA

 

 

 

3,270,000

 

7,509,563

 

1,500

 

None

 

3,270,000

 

7,511,063

 

10,781,063

 

463,315

 

 

 

6/30/2016

 

300

Columbus

 

GA

 

 

 

2,469,283

 

8,652,660

 

None

 

None

 

2,469,283

 

8,652,660

 

11,121,943

 

14,421

 

 

 

12/28/2017

 

300

Dalton

 

GA

 

 

 

2,198,557

 

7,704,005

 

None

 

None

 

2,198,557

 

7,704,005

 

9,902,562

 

12,840

 

 

 

12/28/2017

 

300

Gainesville

 

GA

 

 

 

2,550,000

 

7,339,116

 

1,500

 

None

 

2,550,000

 

7,340,616

 

9,890,616

 

452,804

 

 

 

6/30/2016

 

300

LaGrange

 

GA

 

 

 

1,740,000

 

8,162,125

 

1,000

 

None

 

1,740,000

 

8,163,125

 

9,903,125

 

421,835

 

 

 

9/19/2016

 

300

Des Plaines

 

IL

 

 

 

6,360,000

 

20,525,360

 

None

 

None

 

6,360,000

 

20,525,360

 

26,885,360

 

649,970

 

 

 

3/31/2017

 

300

Frankfort

 

IL

 

 

 

5,780,000

 

20,409,156

 

None

 

None

 

5,780,000

 

20,409,156

 

26,189,156

 

646,290

 

 

 

3/31/2017

 

300

Lake Zurich

 

IL

 

 

 

4,720,000

 

21,200,960

 

None

 

None

 

4,720,000

 

21,200,960

 

25,920,960

 

671,364

 

 

 

3/31/2017

 

300

Harwood Heights

 

IL

 

 

 

7,510,000

 

19,150,146

 

None

 

None

 

7,510,000

 

19,150,146

 

26,660,146

 

606,421

 

 

 

3/31/2017

 

300

Bannockburn

 

IL

 

 

 

7,961,095

 

27,920,243

 

None

 

None

 

7,961,095

 

27,920,243

 

35,881,338

 

46,534

 

 

 

12/28/2017

 

300

Elkhart

 

IN

 

 

 

835,890

 

-     

 

None

 

125,216

 

835,890

 

125,216

 

961,106

 

2,959

 

 

 

11/1/2006

 

120

Terre Haute

 

IN

 

 

 

767,189

 

1,426,532

 

64,431

 

45,099

 

767,189

 

1,536,062

 

2,303,251

 

1,491,432

 

 

 

11/1/2006

 

124

Warsaw

 

IN

 

 

 

2,140,000

 

4,689,646

 

None

 

None

 

2,140,000

 

4,689,646

 

6,829,646

 

2,039,984

 

 

 

2/9/2007

 

300

Lawrence

 

KS

 

 

 

706,512

 

5,338,974

 

140

 

None

 

706,512

 

5,339,114

 

6,045,626

 

1,058,966

 

 

 

1/22/2013

 

300

Wichita

 

KS

 

 

 

1,672,828

 

7,617,013

 

1,539

 

None

 

1,672,828

 

7,618,552

 

9,291,380

 

1,511,464

 

 

 

1/22/2013

 

300

Bossier City

 

LA

 

 

 

2,345,109

 

8,217,538

 

None

 

None

 

2,345,109

 

8,217,538

 

10,562,647

 

13,696

 

 

 

12/28/2017

 

300

Monroe

 

LA

 

 

 

2,270,000

 

7,627,418

 

1,000

 

None

 

2,270,000

 

7,628,418

 

9,898,418

 

470,507

 

 

 

6/30/2016

 

300

Monroe

 

LA

 

 

 

2,260,000

 

7,849,069

 

1,000

 

None

 

2,260,000

 

7,850,069

 

10,110,069

 

484,176

 

 

 

6/30/2016

 

300

Monroe

 

LA

 

 

 

2,273,164

 

7,965,437

 

None

 

None

 

2,273,164

 

7,965,437

 

10,238,601

 

13,276

 

 

 

12/28/2017

 

300

Pineville

 

LA

 

 

 

2,233,856

 

7,827,694

 

None

 

None

 

2,233,856

 

7,827,694

 

10,061,550

 

13,046

 

 

 

12/28/2017

 

300

Ruston

 

LA

 

 

 

2,471,264

 

8,659,601

 

None

 

None

 

2,471,264

 

8,659,601

 

11,130,865

 

14,433

 

 

 

12/28/2017

 

300

Portland

 

ME

 

 

 

-     

 

6,357,617

 

7,937

 

None

 

-     

 

6,365,554

 

6,365,554

 

1,262,729

 

 

 

1/22/2013

 

300

Lapeer

 

MI

 

 

 

763,454

 

4,473,651

 

None

 

None

 

763,454

 

4,473,651

 

5,237,105

 

216,226

 

 

 

10/19/2016

 

300

Aurora

 

MO

 

 

 

440,000

 

3,398,717

 

None

 

None

 

440,000

 

3,398,717

 

3,838,717

 

424,840

 

 

 

11/17/2014

 

300

Festus

 

MO

 

 

 

1,120,000

 

5,163,355

 

1,000

 

None

 

1,120,000

 

5,164,355

 

6,284,355

 

817,923

 

 

 

1/31/2014

 

300

Republic

 

MO

 

 

 

930,000

 

3,036,180

 

None

 

None

 

930,000

 

3,036,180

 

3,966,180

 

379,523

 

 

 

11/17/2014

 

300

Springfield

 

MO

 

 

 

1,167,312

 

3,207,718

 

None

 

None

 

1,167,312

 

3,207,718

 

4,375,030

 

400,965

 

 

 

11/17/2014

 

300

Springfield

 

MO

 

 

 

1,635,901

 

4,495,381

 

None

 

None

 

1,635,901

 

4,495,381

 

6,131,282

 

561,923

 

 

 

11/17/2014

 

300

St. Louis

 

MO

 

 

 

1,150,000

 

4,580,300

 

None

 

None

 

1,150,000

 

4,580,300

 

5,730,300

 

725,214

 

 

 

1/31/2014

 

300

St. Louis

 

MO

 

 

 

890,000

 

5,765,303

 

None

 

None

 

890,000

 

5,765,303

 

6,655,303

 

912,840

 

 

 

1/31/2014

 

300

Rio Rancho

 

NM

 

 

 

1,290,000

 

6,521,932

 

None

 

None

 

1,290,000

 

6,521,932

 

7,811,932

 

206,528

 

 

 

3/29/2017

 

300

Reno

 

NV

 

 

 

456,000

 

562,344

 

19,733

 

175

 

456,000

 

582,252

 

1,038,252

 

580,854

 

 

 

5/26/1988

 

300

Reno

 

NV

 

 

 

721,365

 

1,339,679

 

None

 

None

 

721,365

 

1,339,679

 

2,061,044

 

323,756

 

 

 

12/21/2011

 

300

Canandaigua

 

NY

 

 

 

757,160

 

13,354,409

 

None

 

None

 

757,160

 

13,354,409

 

14,111,569

 

2,648,625

 

 

 

1/22/2013

 

300

Nanuet

 

NY

 

 

 

3,149,527

 

20,960,357

 

None

 

None

 

3,149,527

 

20,960,357

 

24,109,884

 

4,157,138

 

 

 

1/22/2013

 

300

Seaford

 

NY

 

13,806,243

 

6,180,000

 

6,058,740

 

None

 

None

 

6,180,000

 

6,058,740

 

12,238,740

 

878,517

 

 

 

5/9/2014

 

300

Cincinnati

 

OH

 

 

 

1,860,000

 

5,009,049

 

None

 

None

 

1,860,000

 

5,009,049

 

6,869,049

 

258,801

 

 

 

9/28/2016

 

300

Wooster

 

OH

 

 

 

763,642

 

1,419,901

 

None

 

None

 

763,642

 

1,419,901

 

2,183,543

 

631,855

 

 

 

11/1/2006

 

300

Bartlesville

 

OK

 

 

 

1,650,000

 

1,573,823

 

1,000

 

None

 

1,650,000

 

1,574,823

 

3,224,823

 

454,460

 

 

 

10/22/2010

 

300

Norman

 

OK

 

 

 

1,580,000

 

1,900,618

 

1,000

 

None

 

1,580,000

 

1,901,618

 

3,481,618

 

548,686

 

 

 

10/22/2010

 

300

Norman

 

OK

 

 

 

3,000,000

 

2,474,669

 

1,000

 

None

 

3,000,000

 

2,475,669

 

5,475,669

 

713,710

 

 

 

10/22/2010

 

300

Stillwater

 

OK

 

 

 

2,590,000

 

2,472,123

 

1,000

 

None

 

2,590,000

 

2,473,123

 

5,063,123

 

713,470

 

 

 

10/22/2010

 

300

Tulsa

 

OK

 

 

 

1,550,000

 

203,990

 

None

 

None

 

1,550,000

 

203,990

 

1,753,990

 

58,817

 

 

 

10/22/2010

 

300

Tulsa

 

OK

 

 

 

2,000,000

 

753,609

 

None

 

None

 

2,000,000

 

753,609

 

2,753,609

 

217,291

 

 

 

10/22/2010

 

300

Tulsa

 

OK

 

 

 

3,000,000

 

3,485,618

 

1,000

 

None

 

3,000,000

 

3,486,618

 

6,486,618

 

1,005,694

 

 

 

10/22/2010

 

300

Central Point

 

OR

 

 

 

840,000

 

1,560,308

 

None

 

None

 

840,000

 

1,560,308

 

2,400,308

 

891,976

 

 

 

9/30/2003

 

300

Pendleton

 

OR

 

 

 

546,083

 

1,014,153

 

None

 

None

 

546,083

 

1,014,153

 

1,560,236

 

245,087

 

 

 

12/21/2011

 

300

Phoenix

 

OR

 

 

 

840,000

 

1,560,308

 

111,006

 

None

 

840,000

 

1,671,314

 

2,511,314

 

893,581

 

 

 

9/30/2003

 

300

Upper Darby

 

PA

 

8,836,277

 

3,300,000

 

7,383,261

 

None

 

None

 

3,300,000

 

7,383,261

 

10,683,261

 

1,070,573

 

 

 

5/9/2014

 

300

Columbia

 

SC

 

 

 

1,610,000

 

7,776,781

 

1,000

 

None

 

1,610,000

 

7,777,781

 

9,387,781

 

246,340

 

 

 

3/22/2017

 

300

Goose Creek

 

SC

 

 

 

2,160,000

 

8,653,787

 

1,000

 

None

 

2,160,000

 

8,654,787

 

10,814,787

 

274,112

 

 

 

3/22/2017

 

300

Greenville

 

SC

 

 

 

3,020,000

 

7,906,103

 

1,000

 

None

 

3,020,000

 

7,907,103

 

10,927,103

 

250,435

 

 

 

3/22/2017

 

300

Myrtle Beach

 

SC

 

 

 

4,866,449

 

1,544,000

 

1,000

 

None

 

4,866,449

 

1,545,000

 

6,411,449

 

79,907

 

 

 

9/8/2016

 

300

Orangeburg

 

SC

 

 

 

1,430,000

 

7,955,493

 

1,000

 

None

 

1,430,000

 

7,956,493

 

9,386,493

 

251,999

 

 

 

3/22/2017

 

300

Simpsonville

 

SC

 

 

 

2,380,000

 

8,116,512

 

1,000

 

None

 

2,380,000

 

8,117,512

 

10,497,512

 

257,098

 

 

 

3/22/2017

 

300

Simpsonville

 

SC

 

 

 

2,030,000

 

7,348,991

 

1,000

 

None

 

2,030,000

 

7,349,991

 

9,379,991

 

232,793

 

 

 

3/22/2017

 

300

Ladson

 

SC

 

 

 

2,630,000

 

8,278,600

 

1,000

 

None

 

2,630,000

 

8,279,600

 

10,909,600

 

262,231

 

 

 

3/22/2017

 

300

Rapid City

 

SD

 

 

 

2,140,000

 

1,465,451

 

None

 

None

 

2,140,000

 

1,465,451

 

3,605,451

 

422,538

 

 

 

10/22/2010

 

300

Clarksville

 

TN

 

 

 

1,450,000

 

8,573,328

 

1,000

 

None

 

1,450,000

 

8,574,328

 

10,024,328

 

443,080

 

 

 

9/19/2016

 

300

Morristown

 

TN

 

 

 

2,220,190

 

7,779,807

 

None

 

None

 

2,220,190

 

7,779,807

 

9,999,997

 

12,966

 

 

 

12/28/2017

 

300

Hixon

 

TN

 

 

 

2,189,485

 

7,672,213

 

None

 

None

 

2,189,485

 

7,672,213

 

9,861,698

 

12,787

 

 

 

12/28/2017

 

300

Colchester

 

VT

 

 

 

983,640

 

13,718,577

 

None

 

None

 

983,640

 

13,718,577

 

14,702,217

 

2,720,851

 

 

 

1/22/2013

 

300

Richland

 

WA

 

 

 

1,756,961

 

3,262,927

 

None

 

None

 

1,756,961

 

3,262,927

 

5,019,888

 

788,541

 

 

 

12/21/2011

 

300

Burlington

 

WI

 

4,490,000

 

840,000

 

6,515,145

 

None

 

None

 

840,000

 

6,515,145

 

7,355,145

 

966,413

 

 

 

4/30/2014

 

300

Fond du Lac

 

WI

 

 

 

1,260,000

 

5,823,350

 

None

 

None

 

1,260,000

 

5,823,350

 

7,083,350

 

126,173

 

 

 

6/29/2017

 

300

Neenah

 

WI

 

3,480,000

 

1,070,000

 

4,648,820

 

None

 

None

 

1,070,000

 

4,648,820

 

5,718,820

 

689,575

 

 

 

4/30/2014

 

300

Shorewood

 

WI

 

 

 

7,110,000

 

28,692,187

 

None

 

None

 

7,110,000

 

28,692,187

 

35,802,187

 

1,195,508

 

 

 

12/21/2016

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Health and fitness

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gilbert

 

AZ

 

 

 

2,324,742

 

635,758

 

None

 

None

 

2,324,742

 

635,758

 

2,960,500

 

-     

 

In-progress

 

8/17/2017

 

N/A

Goodyear

 

AZ

 

 

 

2,010,000

 

20,928,681

 

None

 

None

 

2,010,000

 

20,928,681

 

22,938,681

 

2,127,749

 

 

 

6/10/2015

 

300

Phoenix

 

AZ

 

 

 

2,608,389

 

3,418,783

 

None

 

None

 

2,608,389

 

3,418,783

 

6,027,172

 

2,170,893

 

6/6/2002

 

6/26/2001

 

300

Phoenix

 

AZ

 

 

 

2,100,000

 

6,556,549

 

None

 

None

 

2,100,000

 

6,556,549

 

8,656,549

 

1,400,882

 

3/20/2012

 

6/29/2011

 

300

Antioch

 

CA

 

 

 

5,375,000

 

9,982,143

 

None

 

None

 

5,375,000

 

9,982,143

 

15,357,143

 

2,512,173

 

 

 

9/21/2011

 

300

Bakersfield

 

CA

 

 

 

2,259,649

 

4,698,845

 

None

 

None

 

2,259,649

 

4,698,845

 

6,958,494

 

1,182,543

 

 

 

9/21/2011

 

300

Bakersfield

 

CA

 

 

 

3,260,933

 

6,056,019

 

None

 

None

 

3,260,933

 

6,056,019

 

9,316,952

 

1,524,098

 

 

 

9/21/2011

 

300

Carmichael

 

CA

 

 

 

812,570

 

3,467,558

 

None

 

None

 

812,570

 

3,467,558

 

4,280,128

 

606,823

 

 

 

8/30/2013

 

300

Carmichael

 

CA

 

 

 

755,676

 

3,224,770

 

None

 

None

 

755,676

 

3,224,770

 

3,980,446

 

564,335

 

 

 

8/30/2013

 

300

Ceres

 

CA

 

 

 

2,145,750

 

3,984,963

 

None

 

None

 

2,145,750

 

3,984,963

 

6,130,713

 

1,002,882

 

 

 

9/21/2011

 

300

Chula Vista

 

CA

 

 

 

4,226,250

 

7,848,750

 

None

 

None

 

4,226,250

 

7,848,750

 

12,075,000

 

2,446,194

 

 

 

3/30/2010

 

300

Diamond Bar

 

CA

 

 

 

3,038,879

 

5,494,141

 

None

 

777

 

3,038,879

 

5,494,918

 

8,533,797

 

3,443,798

 

3/21/2000

 

9/29/1998

 

300

Elk Grove

 

CA

 

 

 

2,570,000

 

10,206,994

 

116,025

 

3,274

 

2,570,000

 

10,326,293

 

12,896,293

 

1,765,825

 

 

 

9/27/2013

 

300

Fairfield

 

CA

 

 

 

836,500

 

2,053,894

 

None

 

None

 

836,500

 

2,053,894

 

2,890,394

 

379,525

 

 

 

10/3/2012

 

300

Folsom

 

CA

 

 

 

1,290,000

 

13,537,029

 

26,013

 

None

 

1,290,000

 

13,563,042

 

14,853,042

 

2,370,443

 

 

 

8/30/2013

 

300

Los Banos

 

CA

 

 

 

1,378,343

 

2,559,779

 

None

 

None

 

1,378,343

 

2,559,779

 

3,938,122

 

644,211

 

 

 

9/21/2011

 

300

McClellan

 

CA

 

 

 

396,459

 

1,691,850

 

None

 

None

 

396,459

 

1,691,850

 

2,088,309

 

296,074

 

 

 

8/30/2013

 

300

Merced

 

CA

 

 

 

910,000

 

2,440,523

 

None

 

None

 

910,000

 

2,440,523

 

3,350,523

 

435,895

 

 

 

10/3/2012

 

300

Norco

 

CA

 

 

 

1,247,243

 

4,907,430

 

None

 

27

 

1,247,243

 

4,907,457

 

6,154,700

 

2,977,729

 

12/13/2000

 

6/29/1999

 

300

Rancho Cordova

 

CA

 

 

 

1,040,000

 

6,791,316

 

38,541

 

None

 

1,040,000

 

6,829,857

 

7,869,857

 

1,190,488

 

 

 

8/30/2013

 

300

Rocklin

 

CA

 

 

 

1,165,243

 

4,972,558

 

None

 

None

 

1,165,243

 

4,972,558

 

6,137,801

 

870,198

 

 

 

8/30/2013

 

300

Roseville

 

CA

 

 

 

1,970,000

 

7,743,081

 

138,677

 

None

 

1,970,000

 

7,881,758

 

9,851,758

 

1,382,863

 

 

 

9/27/2013

 

300

Sacramento

 

CA

 

 

 

449,230

 

1,917,043

 

None

 

None

 

449,230

 

1,917,043

 

2,366,273

 

335,483

 

 

 

8/30/2013

 

300

Sacramento

 

CA

 

 

 

2,400,000

 

14,079,539

 

None

 

None

 

2,400,000

 

14,079,539

 

16,479,539

 

2,416,988

 

 

 

9/30/2013

 

300

Shingle Springs

 

CA

 

 

 

1,575,000

 

3,675,307

 

None

 

None

 

1,575,000

 

3,675,307

 

5,250,307

 

693,161

 

 

 

10/3/2012

 

300

Stockton

 

CA

 

 

 

2,320,442

 

4,309,392

 

None

 

None

 

2,320,442

 

4,309,392

 

6,629,834

 

1,084,530

 

 

 

9/21/2011

 

300

Stockton

 

CA

 

 

 

1,602,459

 

2,975,994

 

None

 

None

 

1,602,459

 

2,975,994

 

4,578,453

 

748,959

 

 

 

9/21/2011

 

300

Tracy

 

CA

 

 

 

556,906

 

1,034,254

 

None

 

None

 

556,906

 

1,034,254

 

1,591,160

 

260,287

 

 

 

9/21/2011

 

300

Tracy

 

CA

 

 

 

3,228,902

 

5,996,532

 

None

 

None

 

3,228,902

 

5,996,532

 

9,225,434

 

1,509,127

 

 

 

9/21/2011

 

300

Vacaville

 

CA

 

 

 

1,575,000

 

3,675,429

 

None

 

None

 

1,575,000

 

3,675,429

 

5,250,429

 

693,175

 

 

 

10/3/2012

 

300

Vallejo

 

CA

 

 

 

756,000

 

3,404,487

 

None

 

None

 

756,000

 

3,404,487

 

4,160,487

 

515,890

 

 

 

10/3/2012

 

300

Montebello

 

CA

 

 

 

3,320,000

 

7,793,644

 

None

 

None

 

3,320,000

 

7,793,644

 

11,113,644

 

168,862

 

 

 

6/15/2017

 

300

Colorado Springs

 

CO

 

 

 

5,002,116

 

25,438,974

 

None

 

None

 

5,002,116

 

25,438,974

 

30,441,090

 

42,398

 

 

 

12/19/2017

 

300

South Windsor

 

CT

 

4,961,441

 

1,410,000

 

8,239,228

 

None

 

None

 

1,410,000

 

8,239,228

 

9,649,228

 

1,167,224

 

 

 

6/27/2014

 

300

Hialeah

 

FL

 

 

 

2,104,393

 

3,910,500

 

None

 

None

 

2,104,393

 

3,910,500

 

6,014,893

 

1,688,016

 

 

 

3/26/2007

 

300

Miami

 

FL

 

 

 

3,115,101

 

5,670,715

 

None

 

106

 

3,115,101

 

5,670,821

 

8,785,922

 

3,404,278

 

5/19/2000

 

6/7/1999

 

300

Oakland Park

 

FL

 

 

 

2,800,000

 

2,196,480

 

None

 

None

 

2,800,000

 

2,196,480

 

4,996,480

 

1,354,687

 

7/6/2001

 

3/27/2001

 

300

Orlando

 

FL

 

 

 

2,144,778

 

3,755,905

 

None

 

None

 

2,144,778

 

3,755,905

 

5,900,683

 

2,125,321

 

8/7/2003

 

11/26/2002

 

300

Pembroke Pines

 

FL

 

 

 

1,714,388

 

4,387,824

 

None

 

None

 

1,714,388

 

4,387,824

 

6,102,212

 

2,999,617

 

12/11/2000

 

10/1/1999

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stuart

 

FL

 

 

 

1,150,000

 

8,258,878

 

None

 

None

 

1,150,000

 

8,258,878

 

9,408,878

 

1,500,363

 

 

 

6/28/2013

 

300

Sunrise

 

FL

 

 

 

2,850,000

 

3,601,884

 

None

 

None

 

2,850,000

 

3,601,884

 

6,451,884

 

1,038,543

 

 

 

10/22/2010

 

300

Winter Park

 

FL

 

 

 

1,979,598

 

8,256,394

 

51,788

 

167,804

 

1,979,598

 

8,475,986

 

10,455,584

 

5,754,879

 

12/30/2003

 

5/31/1995

 

300

Conyers

 

GA

 

 

 

1,200,000

 

7,835,546

 

11,507

 

None

 

1,200,000

 

7,847,053

 

9,047,053

 

1,215,564

 

 

 

2/27/2014

 

300

Morrow

 

GA

 

 

 

1,680,000

 

5,108,661

 

74,158

 

None

 

1,680,000

 

5,182,819

 

6,862,819

 

675,510

 

 

 

9/30/2014

 

300

Urbandale

 

IA

 

 

 

4,720,000

 

27,389,120

 

None

 

None

 

4,720,000

 

27,389,120

 

32,109,120

 

2,784,561

 

 

 

6/10/2015

 

300

Alsip

 

IL

 

 

 

2,944,221

 

5,467,839

 

375

 

None

 

2,944,221

 

5,468,214

 

8,412,435

 

1,758,829

 

 

 

12/30/2009

 

300

Bolingbrook

 

IL

 

 

 

3,010,512

 

8,161,186

 

None

 

None

 

3,010,512

 

8,161,186

 

11,171,698

 

3,286,755

 

10/26/2007

 

1/24/2007

 

300

Glendale Heights

 

IL

 

 

 

1,963,770

 

10,038,516

 

None

 

None

 

1,963,770

 

10,038,516

 

12,002,286

 

2,101,729

 

 

 

3/26/2007

 

300

Lansing

 

IL

 

 

 

460,000

 

6,648,839

 

375

 

None

 

460,000

 

6,649,214

 

7,109,214

 

1,074,903

 

 

 

12/12/2013

 

300

Waukegan

 

IL

 

 

 

2,961,951

 

5,500,766

 

375

 

None

 

2,961,951

 

5,501,141

 

8,463,092

 

1,769,420

 

 

 

12/30/2009

 

300

Elmhurst

 

IL

 

 

 

3,410,000

 

8,185,617

 

None

 

None

 

3,410,000

 

8,185,617

 

11,595,617

 

231,926

 

 

 

4/14/2017

 

300

Carmel

 

IN

 

 

 

3,675,000

 

6,825,000

 

None

 

None

 

3,675,000

 

6,825,000

 

10,500,000

 

2,127,125

 

 

 

3/29/2010

 

300

Indianapolis

 

IN

 

 

 

3,008,186

 

6,999,881

 

None

 

None

 

3,008,186

 

6,999,881

 

10,008,067

 

2,977,565

 

3/20/2007

 

8/3/2006

 

300

Southport

 

IN

 

 

 

2,121,873

 

7,522,735

 

None

 

None

 

2,121,873

 

7,522,735

 

9,644,608

 

2,981,472

 

12/20/2007

 

6/8/2007

 

300

Lenexa

 

KS

 

 

 

1,410,000

 

25,283,643

 

None

 

None

 

1,410,000

 

25,283,643

 

26,693,643

 

2,570,504

 

 

 

6/10/2015

 

300

Florence

 

KY

 

 

 

2,560,000

 

8,523,096

 

None

 

None

 

2,560,000

 

8,523,096

 

11,083,096

 

1,747,235

 

 

 

11/30/2012

 

300

Louisville

 

KY

 

 

 

1,480,000

 

13,081,657

 

525,498

 

None

 

1,480,000

 

13,607,155

 

15,087,155

 

2,588,141

 

 

 

2/1/2013

 

300

Nottingham

 

MD

 

 

 

3,055,453

 

5,675,230

 

None

 

None

 

3,055,453

 

5,675,230

 

8,730,683

 

2,449,807

 

 

 

3/26/2007

 

300

Rochester Hills

 

MI

 

 

 

1,980,000

 

31,441,153

 

None

 

None

 

1,980,000

 

31,441,153

 

33,421,153

 

3,196,517

 

 

 

6/10/2015

 

300

Roseville

 

MN

 

 

 

3,611,925

 

8,804,654

 

None

 

None

 

3,611,925

 

8,804,654

 

12,416,579

 

3,493,454

 

6/5/2008

 

4/18/2007

 

300

St. Louis Park

 

MN

 

 

 

1,160,000

 

36,979,042

 

None

 

None

 

1,160,000

 

36,979,042

 

38,139,042

 

3,759,536

 

 

 

6/10/2015

 

300

Charlotte

 

NC

 

 

 

2,420,000

 

7,649,004

 

59,780

 

None

 

2,420,000

 

7,708,784

 

10,128,784

 

1,211,238

 

 

 

1/29/2014

 

300

Raleigh

 

NC

 

 

 

4,890,000

 

21,252,496

 

None

 

None

 

4,890,000

 

21,252,496

 

26,142,496

 

2,160,670

 

 

 

6/10/2015

 

300

Omaha

 

NE

 

 

 

1,130,000

 

10,814,154

 

None

 

None

 

1,130,000

 

10,814,154

 

11,944,154

 

1,712,241

 

 

 

1/29/2014

 

300

East Brunswick

 

NJ

 

 

 

1,654,529

 

3,073,912

 

None

 

58

 

1,654,529

 

3,073,970

 

4,728,499

 

1,337,172

 

 

 

2/16/2007

 

300

Montvale

 

NJ

 

 

 

7,980,000

 

35,070,170

 

None

 

None

 

7,980,000

 

35,070,170

 

43,050,170

 

3,565,467

 

 

 

6/10/2015

 

300

Harrison

 

NY

 

 

 

16,710,000

 

50,611,800

 

None

 

None

 

16,710,000

 

50,611,800

 

67,321,800

 

5,145,533

 

 

 

6/10/2015

 

300

Patchogue

 

NY

 

 

 

2,540,000

 

9,285,822

 

None

 

None

 

2,540,000

 

9,285,822

 

11,825,822

 

201,193

 

 

 

6/16/2017

 

300

Yonkers

 

NY

 

 

 

1,488,894

 

2,765,894

 

None

 

None

 

1,488,894

 

2,765,894

 

4,254,788

 

1,193,943

 

 

 

3/26/2007

 

300

Brooklyn

 

OH

 

 

 

900,000

 

10,393,798

 

375

 

None

 

900,000

 

10,394,173

 

11,294,173

 

744,895

 

 

 

3/30/2016

 

300

Columbus

 

OH

 

 

 

-     

 

6,891,202

 

111,587

 

None

 

-     

 

7,002,789

 

7,002,789

 

1,350,936

 

 

 

11/30/2012

 

300

Columbus

 

OH

 

 

 

-     

 

11,662,219

 

34,160

 

99

 

-     

 

11,696,478

 

11,696,478

 

2,289,950

 

 

 

2/1/2013

 

300

Columbus

 

OH

 

 

 

-     

 

7,517,501

 

None

 

None

 

-     

 

7,517,501

 

7,517,501

 

1,365,679

 

 

 

6/28/2013

 

300

Hilliard

 

OH

 

 

 

1,010,000

 

10,307,569

 

375

 

None

 

1,010,000

 

10,307,944

 

11,317,944

 

2,009,982

 

 

 

2/1/2013

 

300

Maumee

 

OH

 

 

 

1,390,000

 

10,042,422

 

None

 

None

 

1,390,000

 

10,042,422

 

11,432,422

 

1,590,050

 

 

 

1/29/2014

 

300

Toledo

 

OH

 

 

 

620,000

 

10,933,936

 

None

 

None

 

620,000

 

10,933,936

 

11,553,936

 

1,731,207

 

 

 

1/29/2014

 

300

West Chester

 

OH

 

 

 

1,670,000

 

7,738,611

 

375

 

None

 

1,670,000

 

7,738,986

 

9,408,986

 

1,509,036

 

 

 

2/22/2013

 

300

Allentown

 

PA

 

 

 

2,340,000

 

8,863,815

 

None

 

None

 

2,340,000

 

8,863,815

 

11,203,815

 

221,595

 

 

 

5/1/2017

 

300

Philadelphia

 

PA

 

 

 

2,254,830

 

4,188,725

 

None

 

None

 

2,254,830

 

4,188,725

 

6,443,555

 

1,822,095

 

 

 

2/16/2007

 

300

Pittsburgh

 

PA

 

 

 

4,420,799

 

5,543,009

 

None

 

None

 

4,420,799

 

5,543,009

 

9,963,808

 

1,338,461

 

9/1/2011

 

1/12/2011

 

300

Bartlett

 

TN

 

 

 

2,475,000

 

7,147,610

 

None

 

None

 

2,475,000

 

7,147,610

 

9,622,610

 

15

 

In-progress

 

10/18/2016

 

N/A

Franklin

 

TN

 

 

 

4,493,168

 

22,850,645

 

None

 

None

 

4,493,168

 

22,850,645

 

27,343,813

 

38,084

 

 

 

12/29/2017

 

300

Cypress

 

TX

 

 

 

1,417,377

 

5,696,789

 

None

 

None

 

1,417,377

 

5,696,789

 

7,114,166

 

2,629,936

 

5/15/2006

 

9/14/2005

 

300

Fort Worth

 

TX

 

 

 

1,445,901

 

5,277,886

 

None

 

None

 

1,445,901

 

5,277,886

 

6,723,787

 

3,709,210

 

6/2/2000

 

6/30/1999

 

300

Keller

 

TX

 

 

 

1,478,222

 

5,679,604

 

None

 

None

 

1,478,222

 

5,679,604

 

7,157,826

 

2,769,184

 

9/8/2005

 

12/16/2004

 

300

Plano

 

TX

 

 

 

3,178,115

 

5,832,224

 

None

 

None

 

3,178,115

 

5,832,224

 

9,010,339

 

2,790,891

 

12/6/2005

 

4/22/2005

 

300

Sachse

 

TX

 

 

 

540,000

 

8,144,846

 

3,902

 

None

 

540,000

 

8,148,748

 

8,688,748

 

448,170

 

 

 

8/16/2016

 

300

San Antonio

 

TX

 

 

 

1,120,000

 

2,075,196

 

None

 

None

 

1,120,000

 

2,075,196

 

3,195,196

 

702,108

 

 

 

7/29/2009

 

300

San Antonio

 

TX

 

 

 

1,200,000

 

2,489,568

 

12,965

 

None

 

1,200,000

 

2,502,533

 

3,702,533

 

842,331

 

 

 

7/29/2009

 

300

San Antonio

 

TX

 

 

 

1,200,000

 

6,552,188

 

None

 

None

 

1,200,000

 

6,552,188

 

7,752,188

 

141,964

 

 

 

6/22/2017

 

300

South Jordan

 

UT

 

 

 

6,260,000

 

19,565,376

 

None

 

None

 

6,260,000

 

19,565,376

 

25,825,376

 

1,989,147

 

 

 

6/10/2015

 

300

Federal Way

 

WA

 

 

 

2,650,000

 

8,480,517

 

None

 

None

 

2,650,000

 

8,480,517

 

11,130,517

 

749,112

 

 

 

10/14/2015

 

300

Kent

 

WA

 

 

 

4,086,250

 

7,588,750

 

None

 

None

 

4,086,250

 

7,588,750

 

11,675,000

 

2,441,048

 

 

 

12/21/2009

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Health care

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Enterprise

 

AL

 

 

 

697,210

 

2,265,932

 

None

 

None

 

697,210

 

2,265,932

 

2,963,142

 

449,410

 

 

 

1/22/2013

 

300

Hot Springs

 

AR

 

860,844

 

210,979

 

2,003,689

 

None

 

None

 

210,979

 

2,003,689

 

2,214,668

 

283,856

 

 

 

1/22/2013

 

420

Hot Springs

 

AR

 

956,494

 

235,299

 

2,234,659

 

None

 

None

 

235,299

 

2,234,659

 

2,469,958

 

316,577

 

 

 

1/22/2013

 

420

Hot Springs

 

AR

 

2,415,146

 

904,597

 

5,821,180

 

None

 

None

 

904,597

 

5,821,180

 

6,725,777

 

824,667

 

 

 

1/22/2013

 

420

Apple Valley

 

CA

 

 

 

486,371

 

15,383,518

 

None

 

None

 

486,371

 

15,383,518

 

15,869,889

 

2,033,208

 

 

 

1/22/2013

 

420

Shasta Lake

 

CA

 

 

 

390,906

 

9,754,092

 

None

 

None

 

390,906

 

9,754,092

 

10,144,998

 

1,381,830

 

 

 

1/22/2013

 

420

Augusta

 

GA

 

 

 

526,247

 

1,710,304

 

None

 

None

 

526,247

 

1,710,304

 

2,236,551

 

339,210

 

 

 

1/22/2013

 

300

Brunswick

 

GA

 

 

 

290,369

 

788,880

 

83,729

 

31,059

 

290,369

 

903,668

 

1,194,037

 

686,969

 

 

 

12/31/1997

 

300

Valdosta

 

GA

 

 

 

432,035

 

1,404,115

 

None

 

None

 

432,035

 

1,404,115

 

1,836,150

 

278,483

 

 

 

1/22/2013

 

300

Valdosta

 

GA

 

 

 

413,489

 

1,343,840

 

None

 

None

 

413,489

 

1,343,840

 

1,757,329

 

266,528

 

 

 

1/22/2013

 

300

Blackfoot

 

ID

 

 

 

494,854

 

1,608,277

 

None

 

None

 

494,854

 

1,608,277

 

2,103,131

 

318,975

 

 

 

1/22/2013

 

300

Chicago

 

IL

 

 

 

250,000

 

1,307,607

 

30,997

 

None

 

250,000

 

1,338,604

 

1,588,604

 

95,455

 

 

 

3/25/2016

 

300

New Castle

 

IN

 

 

 

564,055

 

1,833,180

 

None

 

None

 

564,055

 

1,833,180

 

2,397,235

 

363,581

 

 

 

1/22/2013

 

300

Kansas City

 

KS

 

 

 

521,988

 

1,696,460

 

None

 

None

 

521,988

 

1,696,460

 

2,218,448

 

336,465

 

 

 

1/22/2013

 

300

Shreveport

 

LA

 

 

 

423,234

 

1,375,511

 

None

 

None

 

423,234

 

1,375,511

 

1,798,745

 

272,810

 

 

 

1/22/2013

 

300

Billerica

 

MA

 

 

 

398,292

 

740,107

 

21,044

 

15,024

 

398,292

 

776,175

 

1,174,467

 

329,830

 

 

 

11/14/2007

 

300

Kansas City

 

MO

 

 

 

340,000

 

1,523,155

 

None

 

None

 

340,000

 

1,523,155

 

1,863,155

 

246,243

 

 

 

12/20/2013

 

300

St. Louis

 

MO

 

 

 

2,852,903

 

38,694,147

 

71,714

 

None

 

2,852,903

 

38,765,861

 

41,618,764

 

5,480,535

 

 

 

1/22/2013

 

420

St. Louis

 

MO

 

 

 

4,278,685

 

19,900,592

 

None

 

None

 

4,278,685

 

19,900,592

 

24,179,277

 

2,819,250

 

 

 

1/22/2013

 

420

Gulfport

 

MS

 

 

 

299,464

 

502,326

 

224,556

 

46,809

 

299,464

 

773,691

 

1,073,155

 

516,661

 

 

 

11/26/1996

 

300

Wilmington

 

NC

 

 

 

811,533

 

5,498,659

 

None

 

None

 

811,533

 

5,498,659

 

6,310,192

 

1,090,567

 

 

 

1/22/2013

 

300

Lincoln

 

NE

 

 

 

707,636

 

2,299,818

 

None

 

None

 

707,636

 

2,299,818

 

3,007,454

 

456,131

 

 

 

1/22/2013

 

300

Mount Vernon

 

OH

 

 

 

726,626

 

1,351,151

 

None

 

22,995

 

726,626

 

1,374,146

 

2,100,772

 

612,345

 

 

 

11/1/2006

 

300

Okmulgee

 

OK

 

 

 

397,605

 

1,292,216

 

None

 

None

 

397,605

 

1,292,216

 

1,689,821

 

256,290

 

 

 

1/22/2013

 

300

Sellersville

 

PA

 

 

 

763,355

 

2,480,903

 

None

 

None

 

763,355

 

2,480,903

 

3,244,258

 

492,046

 

 

 

1/22/2013

 

300

Abbeville

 

SC

 

 

 

446,204

 

1,450,164

 

None

 

None

 

446,204

 

1,450,164

 

1,896,368

 

287,616

 

 

 

1/22/2013

 

300

North Augusta

 

SC

 

 

 

498,284

 

1,619,423

 

None

 

None

 

498,284

 

1,619,423

 

2,117,707

 

321,186

 

 

 

1/22/2013

 

300

Dickson

 

TN

 

 

 

531,717

 

1,728,079

 

None

 

None

 

531,717

 

1,728,079

 

2,259,796

 

342,736

 

 

 

1/22/2013

 

300

Memphis

 

TN

 

 

 

602,208

 

1,957,176

 

None

 

None

 

602,208

 

1,957,176

 

2,559,384

 

388,173

 

 

 

1/22/2013

 

300

Memphis

 

TN

 

 

 

822,791

 

2,674,071

 

None

 

None

 

822,791

 

2,674,071

 

3,496,862

 

530,357

 

 

 

1/22/2013

 

300

Bedford

 

TX

 

 

 

1,607,524

 

56,219,108

 

None

 

None

 

1,607,524

 

56,219,108

 

57,826,632

 

7,964,374

 

 

 

1/22/2013

 

420

Hampton

 

VA

 

 

 

373,499

 

836,071

 

7,601

 

33,022

 

373,499

 

876,694

 

1,250,193

 

710,871

 

 

 

12/19/1997

 

300

Muskego

 

WI

 

 

 

1,528,232

 

26,297,695

 

92,891

 

None

 

1,528,232

 

26,390,586

 

27,918,818

 

3,732,382

 

 

 

1/22/2013

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home furnishings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Little Rock

 

AR

 

 

 

1,079,232

 

2,594,956

 

132,816

 

116

 

1,079,232

 

2,727,888

 

3,807,120

 

2,110,423

 

 

 

7/21/1998

 

300

Osceola

 

AR

 

 

 

88,759

 

520,047

 

4,083

 

None

 

88,759

 

524,130

 

612,889

 

410,585

 

 

 

6/30/1998

 

300

Wynne

 

AR

 

 

 

70,000

 

547,576

 

58,039

 

2,024

 

70,000

 

607,639

 

677,639

 

459,428

 

11/10/1998

 

2/24/1999

 

300

Jackson

 

CA

 

 

 

300,000

 

390,849

 

6,775

 

57

 

300,000

 

397,681

 

697,681

 

397,661

 

 

 

5/17/1988

 

300

Pueblo

 

CO

 

 

 

371,645

 

1,207,845

 

None

 

None

 

371,645

 

1,207,845

 

1,579,490

 

239,556

 

 

 

1/22/2013

 

300

Danbury

 

CT

 

 

 

643,736

 

3,621,163

 

324,674

 

243,250

 

643,736

 

4,189,087

 

4,832,823

 

3,196,902

 

 

 

9/30/1997

 

300

Brandon

 

FL

 

 

 

430,000

 

1,020,608

 

None

 

None

 

430,000

 

1,020,608

 

1,450,608

 

797,773

 

 

 

6/26/1998

 

300

Hudson

 

FL

 

 

 

397,101

 

1,290,578

 

None

 

None

 

397,101

 

1,290,578

 

1,687,679

 

255,965

 

 

 

1/22/2013

 

300

Ocala

 

FL

 

 

 

339,690

 

543,504

 

5,040

 

None

 

339,690

 

548,544

 

888,234

 

459,838

 

 

 

11/26/1996

 

300

Palm Harbor

 

FL

 

 

 

364,939

 

1,186,052

 

None

 

None

 

364,939

 

1,186,052

 

1,550,991

 

235,234

 

 

 

1/22/2013

 

300

Pensacola

 

FL

 

 

 

370,809

 

1,205,128

 

None

 

None

 

370,809

 

1,205,128

 

1,575,937

 

239,017

 

 

 

1/22/2013

 

300

Spring Hill

 

FL

 

 

 

370,810

 

1,205,131

 

None

 

None

 

370,810

 

1,205,131

 

1,575,941

 

239,018

 

 

 

1/22/2013

 

300

Tampa

 

FL

 

 

 

685,000

 

885,624

 

None

 

None

 

685,000

 

885,624

 

1,570,624

 

692,261

 

 

 

6/26/1998

 

300

Tampa

 

FL

 

 

 

494,763

 

767,737

 

71,880

 

373

 

494,763

 

839,990

 

1,334,753

 

656,938

 

 

 

12/31/1998

 

300

West Palm Beach

 

FL

 

 

 

347,651

 

706,081

 

69,111

 

373

 

347,651

 

775,565

 

1,123,216

 

584,286

 

 

 

12/31/1998

 

300

Rome

 

GA

 

 

 

254,902

 

486,812

 

115,742

 

84

 

254,902

 

602,638

 

857,540

 

434,875

 

 

 

11/26/1996

 

300

Joliet

 

IL

 

 

 

440,000

 

910,689

 

None

 

94

 

440,000

 

910,783

 

1,350,783

 

711,947

 

 

 

6/26/1998

 

300

Anderson

 

IN

 

 

 

180,628

 

653,162

 

108,685

 

179

 

180,628

 

762,026

 

942,654

 

637,393

 

 

 

11/26/1996

 

300

Mishawaka

 

IN

 

 

 

1,070,000

 

4,321,944

 

375

 

None

 

1,070,000

 

4,322,319

 

5,392,319

 

554,656

 

 

 

10/28/2014

 

300

Kansas City

 

KS

 

 

 

185,955

 

413,014

 

31,870

 

8,583

 

185,955

 

453,467

 

639,422

 

448,505

 

 

 

5/13/1988

 

300

Overland Park

 

KS

 

6,310,177

 

2,600,000

 

4,566,981

 

59,948

 

None

 

2,600,000

 

4,626,929

 

7,226,929

 

332,177

 

 

 

3/31/2016

 

300

Overland Park

 

KS

 

3,389,823

 

1,480,000

 

2,672,995

 

32,001

 

None

 

1,480,000

 

2,704,996

 

4,184,996

 

194,317

 

 

 

3/31/2016

 

300

Alexandria

 

LA

 

 

 

400,000

 

810,608

 

None

 

168

 

400,000

 

810,776

 

1,210,776

 

633,791

 

 

 

6/26/1998

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monroe

 

LA

 

 

 

450,000

 

835,608

 

None

 

None

 

450,000

 

835,608

 

1,285,608

 

653,165

 

 

 

6/26/1998

 

300

Battle Creek

 

MI

 

 

 

485,000

 

895,689

 

None

 

266

 

485,000

 

895,955

 

1,380,955

 

700,310

 

 

 

6/26/1998

 

300

Bay City

 

MI

 

 

 

397,531

 

1,291,976

 

None

 

None

 

397,531

 

1,291,976

 

1,689,507

 

256,242

 

 

 

1/22/2013

 

300

Eden Prairie

 

MN

 

 

 

500,502

 

1,055,244

 

None

 

None

 

500,502

 

1,055,244

 

1,555,746

 

796,673

 

 

 

3/1/1999

 

300

Hattiesburg

 

MS

 

 

 

300,000

 

660,608

 

None

 

168

 

300,000

 

660,776

 

960,776

 

516,541

 

 

 

6/26/1998

 

300

Ridgeland

 

MS

 

 

 

306,460

 

995,995

 

None

 

None

 

306,460

 

995,995

 

1,302,455

 

197,539

 

 

 

1/22/2013

 

300

Asheboro

 

NC

 

 

 

373,128

 

1,212,666

 

None

 

None

 

373,128

 

1,212,666

 

1,585,794

 

240,512

 

 

 

1/22/2013

 

300

Matthews

 

NC

 

 

 

768,222

 

843,401

 

46,414

 

37,821

 

768,222

 

927,636

 

1,695,858

 

719,294

 

 

 

12/31/1998

 

300

Grand Island

 

NE

 

 

 

455,921

 

1,481,742

 

None

 

None

 

455,921

 

1,481,742

 

1,937,663

 

293,879

 

 

 

1/22/2013

 

300

Cortland

 

NY

 

 

 

448,156

 

1,456,507

 

None

 

None

 

448,156

 

1,456,507

 

1,904,663

 

288,874

 

 

 

1/22/2013

 

300

Green Island

 

NY

 

 

 

1,181,947

 

20,808,780

 

84,849

 

None

 

1,181,947

 

20,893,629

 

22,075,576

 

2,958,411

 

 

 

1/22/2013

 

420

Middletown

 

NY

 

 

 

2,700,000

 

14,093,893

 

None

 

None

 

2,700,000

 

14,093,893

 

16,793,893

 

587,246

 

 

 

12/8/2016

 

300

Oneonta

 

NY

 

 

 

354,283

 

1,151,419

 

None

 

None

 

354,283

 

1,151,419

 

1,505,702

 

228,365

 

 

 

1/22/2013

 

300

Rotterdam

 

NY

 

 

 

390,926

 

1,270,510

 

None

 

None

 

390,926

 

1,270,510

 

1,661,436

 

251,985

 

 

 

1/22/2013

 

300

Ashtabula

 

OH

 

 

 

359,857

 

1,169,537

 

None

 

None

 

359,857

 

1,169,537

 

1,529,394

 

231,958

 

 

 

1/22/2013

 

300

Dayton

 

OH

 

 

 

401,723

 

698,872

 

48,970

 

206

 

401,723

 

748,048

 

1,149,771

 

564,760

 

 

 

6/29/1998

 

300

Kettering

 

OH

 

 

 

316,341

 

1,028,109

 

None

 

None

 

316,341

 

1,028,109

 

1,344,450

 

203,908

 

 

 

1/22/2013

 

300

Lancaster

 

OH

 

 

 

250,000

 

830,689

 

None

 

None

 

250,000

 

830,689

 

1,080,689

 

649,320

 

 

 

6/26/1998

 

300

Piqua

 

OH

 

 

 

375,833

 

1,221,457

 

None

 

None

 

375,833

 

1,221,457

 

1,597,290

 

242,256

 

 

 

1/22/2013

 

300

Altoona

 

PA

 

 

 

455,000

 

745,694

 

None

 

None

 

455,000

 

745,694

 

1,200,694

 

582,882

 

 

 

6/26/1998

 

300

Cranberry

 

PA

 

 

 

369,761

 

1,201,723

 

None

 

None

 

369,761

 

1,201,723

 

1,571,484

 

238,342

 

 

 

1/22/2013

 

300

Erie

 

PA

 

 

 

510,000

 

900,689

 

None

 

None

 

510,000

 

900,689

 

1,410,689

 

704,036

 

 

 

6/26/1998

 

300

Pennsdale

 

PA

 

 

 

315,000

 

835,648

 

None

 

None

 

315,000

 

835,648

 

1,150,648

 

653,196

 

 

 

6/26/1998

 

300

Whitehall

 

PA

 

 

 

515,525

 

1,146,868

 

375

 

None

 

515,525

 

1,147,243

 

1,662,768

 

896,473

 

 

 

6/30/1998

 

300

Columbia

 

SC

 

 

 

600,000

 

900,725

 

None

 

296

 

600,000

 

901,021

 

1,501,021

 

704,361

 

 

 

6/26/1998

 

300

Murrells Inlet

 

SC

 

 

 

296,236

 

962,766

 

None

 

None

 

296,236

 

962,766

 

1,259,002

 

190,949

 

 

 

1/22/2013

 

300

Abilene

 

TX

 

 

 

400,000

 

680,616

 

None

 

None

 

400,000

 

680,616

 

1,080,616

 

532,012

 

 

 

6/26/1998

 

300

Amarillo

 

TX

 

 

 

140,000

 

419,734

 

None

 

None

 

140,000

 

419,734

 

559,734

 

420,865

 

 

 

9/12/1988

 

300

Plainview

 

TX

 

 

 

125,000

 

734,558

 

40,000

 

49

 

125,000

 

774,607

 

899,607

 

587,816

 

 

 

1/24/1984

 

300

San Antonio

 

TX

 

 

 

323,451

 

637,991

 

47,914

 

None

 

323,451

 

685,905

 

1,009,356

 

533,835

 

 

 

12/31/1998

 

300

Victoria

 

TX

 

 

 

291,380

 

946,984

 

None

 

None

 

291,380

 

946,984

 

1,238,364

 

187,819

 

 

 

1/22/2013

 

300

Webster

 

TX

 

 

 

283,604

 

538,002

 

107,359

 

186

 

283,604

 

645,547

 

929,151

 

444,860

 

 

 

6/13/1997

 

300

Pasco

 

WA

 

 

 

161,700

 

359,142

 

56,707

 

None

 

161,700

 

415,849

 

577,549

 

405,990

 

 

 

8/18/1987

 

300

Eau Claire

 

WI

 

 

 

260,000

 

820,689

 

None

 

211

 

260,000

 

820,900

 

1,080,900

 

641,714

 

 

 

6/26/1998

 

300

La Crosse

 

WI

 

 

 

372,883

 

877,812

 

None

 

250

 

372,883

 

878,062

 

1,250,945

 

686,404

 

 

 

6/26/1998

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home improvement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kenai

 

AK

 

 

 

2,350,000

 

5,400,025

 

None

 

None

 

2,350,000

 

5,400,025

 

7,750,025

 

729,003

 

 

 

8/19/2014

 

300

Birmingham

 

AL

 

 

 

717,675

 

1,774,814

 

3,700

 

None

 

717,675

 

1,778,514

 

2,496,189

 

198,424

 

 

 

3/31/2015

 

300

Enterprise

 

AL

 

 

 

850,000

 

5,757,559

 

None

 

None

 

850,000

 

5,757,559

 

6,607,559

 

67,172

 

 

 

9/28/2017

 

300

Phoenix

 

AZ

 

 

 

10,901,934

 

-     

 

None

 

None

 

10,901,934

 

-     

 

10,901,934

 

-     

 

 

 

9/29/2017

 

N/A

Tucson

 

AZ

 

 

 

4,170,000

 

14,213,818

 

None

 

None

 

4,170,000

 

14,213,818

 

18,383,818

 

2,013,624

 

 

 

6/19/2014

 

300

Tucson

 

AZ

 

6,571,041

 

4,280,000

 

15,094,661

 

None

 

None

 

4,280,000

 

15,094,661

 

19,374,661

 

2,037,779

 

 

 

8/7/2014

 

300

Lawndale

 

CA

 

 

 

667,007

 

1,238,841

 

None

 

49

 

667,007

 

1,238,890

 

1,905,897

 

943,625

 

 

 

12/31/1998

 

300

Los Angeles

 

CA

 

 

 

163,668

 

304,097

 

None

 

49

 

163,668

 

304,146

 

467,814

 

231,661

 

 

 

12/31/1998

 

300

Morgan Hill

 

CA

 

 

 

5,100,000

 

7,219,244

 

None

 

None

 

5,100,000

 

7,219,244

 

12,319,244

 

1,022,726

 

 

 

6/19/2014

 

300

Van Nuys

 

CA

 

 

 

750,293

 

1,393,545

 

None

 

49

 

750,293

 

1,393,594

 

2,143,887

 

1,061,458

 

 

 

12/31/1998

 

300

Greenwood Village

 

CO

 

 

 

9,700,000

 

13,352,870

 

None

 

None

 

9,700,000

 

13,352,870

 

23,052,870

 

1,891,657

 

 

 

6/19/2014

 

300

Augusta

 

GA

 

 

 

2,701,584

 

18,072,555

 

171,032

 

None

 

2,701,584

 

18,243,587

 

20,945,171

 

3,695,089

 

 

 

1/22/2013

 

300

Austell

 

GA

 

 

 

9,161,124

 

-     

 

None

 

None

 

9,161,124

 

-     

 

9,161,124

 

-     

 

 

 

1/22/2013

 

N/A

Conley

 

GA

 

 

 

727,106

 

904,138

 

29,754

 

None

 

727,106

 

933,892

 

1,660,998

 

131,357

 

 

 

8/7/2014

 

300

Valdosta

 

GA

 

 

 

2,550,000

 

11,989,018

 

None

 

800

 

2,550,000

 

11,989,818

 

14,539,818

 

1,658,513

 

 

 

7/15/2014

 

300

Cedar Rapids

 

IA

 

 

 

294,195

 

732,929

 

None

 

None

 

294,195

 

732,929

 

1,027,124

 

67,185

 

 

 

9/24/2015

 

300

Kansas City

 

KS

 

 

 

854,158

 

1,810,915

 

375

 

None

 

854,158

 

1,811,290

 

2,665,448

 

220,335

 

 

 

12/22/2014

 

300

Lenexa

 

KS

 

 

 

1,051,077

 

1,952,233

 

None

 

None

 

1,051,077

 

1,952,233

 

3,003,310

 

933,818

 

 

 

1/6/2006

 

300

Overland Park

 

KS

 

 

 

3,400,000

 

12,372,646

 

None

 

None

 

3,400,000

 

12,372,646

 

15,772,646

 

762,980

 

 

 

6/29/2016

 

300

Topeka

 

KS

 

11,800,100

 

2,189,122

 

35,657,677

 

None

 

None

 

2,189,122

 

35,657,677

 

37,846,799

 

5,100,410

 

 

 

1/22/2013

 

420

Winchester

 

KY

 

 

 

590,000

 

5,879,333

 

None

 

None

 

590,000

 

5,879,333

 

6,469,333

 

68,592

 

 

 

9/26/2017

 

300

Gretna

 

LA

 

 

 

4,260,000

 

8,738,059

 

None

 

None

 

4,260,000

 

8,738,059

 

12,998,059

 

393,213

 

 

 

11/30/2016

 

300

Jefferson

 

LA

 

 

 

610,004

 

1,293,280

 

None

 

None

 

610,004

 

1,293,280

 

1,903,284

 

157,349

 

 

 

12/31/2014

 

300

Midland

 

MI

 

 

 

3,408,134

 

2,684,505

 

None

 

None

 

3,408,134

 

2,684,505

 

6,092,639

 

13,423

 

 

 

11/20/2017

 

300

Forest Lake

 

MN

 

 

 

1,952,135

 

4,757,481

 

None

 

None

 

1,952,135

 

4,757,481

 

6,709,616

 

23,787

 

 

 

11/27/2017

 

300

Chillicothe

 

MO

 

 

 

804,948

 

1,495,138

 

None

 

None

 

804,948

 

1,495,138

 

2,300,086

 

715,174

 

 

 

1/6/2006

 

300

Columbia

 

MO

 

 

 

2,039,436

 

3,787,757

 

None

 

None

 

2,039,436

 

3,787,757

 

5,827,193

 

1,811,810

 

 

 

1/6/2006

 

300

Columbia

 

MO

 

 

 

1,080,521

 

2,006,915

 

None

 

None

 

1,080,521

 

2,006,915

 

3,087,436

 

959,974

 

 

 

1/6/2006

 

300

Fulton

 

MO

 

 

 

791,603

 

1,470,353

 

None

 

None

 

791,603

 

1,470,353

 

2,261,956

 

703,319

 

 

 

1/6/2006

 

300

Jefferson City

 

MO

 

 

 

1,481,299

 

2,751,217

 

250,000

 

34,933

 

1,481,299

 

3,036,150

 

4,517,449

 

1,336,318

 

 

 

1/6/2006

 

300

Kirksville

 

MO

 

 

 

1,421,788

 

2,640,696

 

None

 

None

 

1,421,788

 

2,640,696

 

4,062,484

 

1,263,133

 

 

 

1/6/2006

 

300

Macon

 

MO

 

 

 

493,394

 

916,537

 

None

 

None

 

493,394

 

916,537

 

1,409,931

 

438,410

 

 

 

1/6/2006

 

300

Moberly

 

MO

 

 

 

1,293,387

 

2,402,283

 

None

 

None

 

1,293,387

 

2,402,283

 

3,695,670

 

1,149,091

 

 

 

1/6/2006

 

300

Charlotte

 

NC

 

 

 

2,880,000

 

5,771,974

 

None

 

None

 

2,880,000

 

5,771,974

 

8,651,974

 

125,059

 

 

 

6/23/2017

 

300

Matthews

 

NC

 

 

 

610,177

 

1,394,743

 

86,087

 

68,013

 

610,177

 

1,548,843

 

2,159,020

 

1,145,319

 

 

 

7/17/1998

 

300

Omaha

 

NE

 

 

 

1,515,773

 

2,816,678

 

None

 

32

 

1,515,773

 

2,816,710

 

4,332,483

 

1,347,344

 

 

 

1/6/2006

 

300

Haddon Heights

 

NJ

 

 

 

80,000

 

534,400

 

124,945

 

None

 

80,000

 

659,345

 

739,345

 

64,330

 

 

 

5/21/2015

 

300

Voorhees Township

 

NJ

 

 

 

11,002,336

 

4,280,000

 

None

 

None

 

11,002,336

 

4,280,000

 

15,282,336

 

192,600

 

 

 

11/30/2016

 

300

Reno

 

NV

 

 

 

1,300,428

 

23,765,102

 

None

 

None

 

1,300,428

 

23,765,102

 

25,065,530

 

84,875

 

 

 

11/30/2017

 

420

Rochester

 

NY

 

 

 

158,168

 

294,456

 

None

 

None

 

158,168

 

294,456

 

452,624

 

224,288

 

 

 

12/31/1998

 

300

Akron

 

OH

 

 

 

359,775

 

762,765

 

None

 

None

 

359,775

 

762,765

 

1,122,540

 

92,803

 

 

 

12/31/2014

 

300

Canton

 

OH

 

 

 

70,000

 

908,666

 

None

 

None

 

70,000

 

908,666

 

978,666

 

110,554

 

 

 

12/31/2014

 

300

Columbus

 

OH

 

 

 

230,000

 

538,088

 

None

 

None

 

230,000

 

538,088

 

768,088

 

65,467

 

 

 

12/18/2014

 

300

Massillon

 

OH

 

 

 

6,523,018

 

939,016

 

None

 

None

 

6,523,018

 

939,016

 

7,462,034

 

57,906

 

 

 

6/30/2016

 

300

Youngstown

 

OH

 

 

 

2,260,000

 

10,662,835

 

None

 

None

 

2,260,000

 

10,662,835

 

12,922,835

 

231,028

 

 

 

6/27/2017

 

300

Wheelersburg

 

OH

 

 

 

1,765,883

 

9,211,996

 

None

 

None

 

1,765,883

 

9,211,996

 

10,977,879

 

15,353

 

 

 

12/22/2017

 

300

Edmond

 

OK

 

 

 

1,030,000

 

1,317,842

 

None

 

None

 

1,030,000

 

1,317,842

 

2,347,842

 

147,159

 

 

 

3/11/2015

 

300

Columbia

 

TN

 

 

 

610,000

 

985,954

 

375

 

None

 

610,000

 

986,329

 

1,596,329

 

129,824

 

 

 

9/9/2014

 

300

Johnson City

 

TN

 

 

 

467,167

 

580,911

 

None

 

None

 

467,167

 

580,911

 

1,048,078

 

78,423

 

 

 

8/7/2014

 

300

Knoxville

 

TN

 

 

 

6,486,801

 

-     

 

None

 

None

 

6,486,801

 

-     

 

6,486,801

 

-     

 

 

 

1/22/2013

 

N/A

Nashville

 

TN

 

 

 

9,928,019

 

-     

 

None

 

None

 

9,928,019

 

-     

 

9,928,019

 

-     

 

 

 

5/24/2017

 

N/A

Amarillo

 

TX

 

 

 

1,140,000

 

1,082,966

 

None

 

None

 

1,140,000

 

1,082,966

 

2,222,966

 

117,321

 

 

 

3/28/2014

 

420

Carrollton

 

TX

 

 

 

201,569

 

374,342

 

None

 

102

 

201,569

 

374,444

 

576,013

 

210,357

 

 

 

12/5/2003

 

300

Cedar Park

 

TX

 

 

 

253,591

 

827,237

 

126,892

 

41,396

 

253,591

 

995,525

 

1,249,116

 

794,552

 

 

 

3/26/1997

 

300

Longview

 

TX

 

 

 

300,000

 

980,898

 

None

 

None

 

300,000

 

980,898

 

1,280,898

 

102,994

 

 

 

5/15/2015

 

300

Midland

 

TX

 

 

 

1,590,052

 

2,953,473

 

None

 

None

 

1,590,052

 

2,953,473

 

4,543,525

 

1,412,745

 

 

 

1/6/2006

 

300

Odessa

 

TX

 

 

 

1,346,834

 

2,501,783

 

None

 

None

 

1,346,834

 

2,501,783

 

3,848,617

 

1,196,686

 

 

 

1/6/2006

 

300

San Antonio

 

TX

 

 

 

367,890

 

683,750

 

None

 

None

 

367,890

 

683,750

 

1,051,640

 

520,792

 

 

 

12/31/1998

 

300

Stafford

 

TX

 

 

 

1,025,959

 

1,275,756

 

None

 

None

 

1,025,959

 

1,275,756

 

2,301,715

 

172,227

 

 

 

8/7/2014

 

300

Webster

 

TX

 

 

 

770,000

 

976,851

 

8,565

 

None

 

770,000

 

985,416

 

1,755,416

 

106,515

 

 

 

3/28/2014

 

420

Wichita Falls

 

TX

 

 

 

120,000

 

464,338

 

None

 

None

 

120,000

 

464,338

 

584,338

 

50,303

 

 

 

3/28/2014

 

420

Chesapeake

 

VA

 

 

 

144,014

 

649,869

 

None

 

11,754

 

144,014

 

661,623

 

805,637

 

661,193

 

 

 

12/22/1986

 

300

Richmond

 

VA

 

 

 

713,319

 

886,996

 

None

 

None

 

713,319

 

886,996

 

1,600,315

 

119,744

 

 

 

8/7/2014

 

300

Bellingham

 

WA

 

 

 

4,140,000

 

16,417,981

 

None

 

None

 

4,140,000

 

16,417,981

 

20,557,981

 

1,669,161

 

 

 

6/9/2015

 

300

Spokane

 

WA

 

 

 

4,930,000

 

15,428,206

 

None

 

None

 

4,930,000

 

15,428,206

 

20,358,206

 

1,568,534

 

 

 

6/30/2015

 

300

Baraboo

 

WI

 

 

 

110,000

 

719,613

 

None

 

None

 

110,000

 

719,613

 

829,613

 

77,958

 

 

 

3/28/2014

 

420

Mukwonago

 

WI

 

 

 

180,000

 

938,997

 

29,462

 

None

 

180,000

 

968,459

 

1,148,459

 

82,729

 

 

 

11/5/2015

 

300

Neenah

 

WI

 

 

 

200,000

 

1,343,343

 

None

 

None

 

200,000

 

1,343,343

 

1,543,343

 

163,440

 

 

 

12/31/2014

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cedar Falls

 

IA

 

 

 

634,343

 

6,331,030

 

None

 

None

 

634,343

 

6,331,030

 

6,965,373

 

1,361,171

 

 

 

8/28/2012

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Jewelry

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plymouth

 

MA

 

 

 

-     

 

1,809,315

 

None

 

None

 

-     

 

1,809,315

 

1,809,315

 

358,847

 

 

 

1/22/2013

 

300

Watchung

 

NJ

 

 

 

-     

 

2,446,115

 

None

 

None

 

-     

 

2,446,115

 

2,446,115

 

485,146

 

 

 

1/22/2013

 

300

Amherst

 

NY

 

 

 

-     

 

1,841,863

 

None

 

None

 

-     

 

1,841,863

 

1,841,863

 

365,303

 

 

 

1/22/2013

 

300

Lake Grove

 

NY

 

 

 

-     

 

2,171,696

 

None

 

None

 

-     

 

2,171,696

 

2,171,696

 

430,720

 

 

 

1/22/2013

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Machinery

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tomah

 

WI

 

 

 

1,630,917

 

12,938,430

 

None

 

None

 

1,630,917

 

12,938,430

 

14,569,347

 

2,824,891

 

 

 

7/31/2012

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Motor vehicle dealerships

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Robertsdale

 

AL

 

 

 

3,026,015

 

6,117,490

 

None

 

None

 

3,026,015

 

6,117,490

 

9,143,505

 

2,694,558

 

1/29/2007

 

4/7/2006

 

300

West Covina

 

CA

 

 

 

311,040

 

577,733

 

305,294

 

45,714

 

311,040

 

928,741

 

1,239,781

 

529,255

 

 

 

12/31/1998

 

300

Longmont

 

CO

 

 

 

2,502,092

 

6,906,609

 

None

 

115

 

2,502,092

 

6,906,724

 

9,408,816

 

3,695,150

 

 

 

8/25/2004

 

300

Clearwater

 

FL

 

 

 

9,110,000

 

8,215,668

 

500

 

None

 

9,110,000

 

8,216,168

 

17,326,168

 

588,833

 

 

 

3/23/2016

 

300

Gulf Breeze

 

FL

 

 

 

3,518,413

 

905,480

 

None

 

None

 

3,518,413

 

905,480

 

4,423,893

 

424,066

 

 

 

4/7/2006

 

300

Sanford

 

FL

 

 

 

5,380,000

 

4,387,546

 

None

 

None

 

5,380,000

 

4,387,546

 

9,767,546

 

314,441

 

 

 

3/23/2016

 

300

Stockbridge

 

GA

 

 

 

2,470,000

 

8,693,515

 

None

 

None

 

2,470,000

 

8,693,515

 

11,163,515

 

1,550,344

 

 

 

7/18/2013

 

300

Woodstock

 

GA

 

 

 

2,509,102

 

2,509,993

 

None

 

None

 

2,509,102

 

2,509,993

 

5,019,095

 

1,225,713

 

 

 

10/25/2005

 

300

Island Lake

 

IL

 

 

 

2,107,134

 

6,383,412

 

None

 

None

 

2,107,134

 

6,383,412

 

8,490,546

 

3,211,216

 

 

 

12/31/2004

 

300

Louisville

 

KY

 

 

 

4,070,000

 

11,863,002

 

500

 

None

 

4,070,000

 

11,863,502

 

15,933,502

 

1,087,554

 

 

 

9/29/2015

 

300

Danvers

 

MA

 

 

 

15,602,817

 

-     

 

None

 

None

 

15,602,817

 

-     

 

15,602,817

 

-     

 

 

 

2/1/2017

 

N/A

South Portland

 

ME

 

 

 

5,415,622

 

-     

 

None

 

None

 

5,415,622

 

-     

 

5,415,622

 

-     

 

 

 

12/22/2016

 

N/A

Charlotte

 

NC

 

 

 

3,560,000

 

5,847,436

 

None

 

None

 

3,560,000

 

5,847,436

 

9,407,436

 

964,827

 

 

 

11/26/2013

 

300

Colfax

 

NC

 

 

 

1,125,979

 

2,196,033

 

None

 

None

 

1,125,979

 

2,196,033

 

3,322,012

 

1,143,183

 

 

 

12/31/2004

 

300

Statesville

 

NC

 

 

 

2,353,825

 

4,159,653

 

None

 

None

 

2,353,825

 

4,159,653

 

6,513,478

 

2,141,702

 

 

 

5/13/2004

 

300

Chichester

 

NH

 

 

 

578,314

 

4,546,307

 

None

 

None

 

578,314

 

4,546,307

 

5,124,621

 

2,354,692

 

 

 

10/1/2004

 

300

Churchville

 

NY

 

 

 

1,000,000

 

5,755,166

 

None

 

None

 

1,000,000

 

5,755,166

 

6,755,166

 

2,662,742

 

6/6/2006

 

3/23/2006

 

300

Akron

 

OH

 

 

 

715,953

 

554,589

 

None

 

None

 

715,953

 

554,589

 

1,270,542

 

273,105

 

2/13/2006

 

1/19/2005

 

300

Hillsboro

 

OR

 

 

 

1,611,084

 

1,936,755

 

None

 

58

 

1,611,084

 

1,936,813

 

3,547,897

 

874,819

 

 

 

9/1/2006

 

300

Wood Village

 

OR

 

 

 

3,822,277

 

5,687,110

 

None

 

58

 

3,822,277

 

5,687,168

 

9,509,445

 

2,504,174

 

 

 

9/1/2006

 

300

Myrtle Beach

 

SC

 

 

 

4,099,824

 

2,081,997

 

(1,800,804

)

None

 

2,299,020

 

2,081,997

 

4,381,017

 

1,065,173

 

7/28/2000

 

3/3/2005

 

300

Fort Worth

 

TX

 

 

 

5,210,000

 

10,504,651

 

500

 

None

 

5,210,000

 

10,505,151

 

15,715,151

 

647,862

 

 

 

6/30/2016

 

300

Garland

 

TX

 

 

 

3,233,329

 

12,064,417

 

500

 

None

 

3,233,329

 

12,064,917

 

15,298,246

 

2,473,460

 

 

 

11/19/2012

 

300

Houston

 

TX

 

 

 

3,630,000

 

9,733,649

 

500

 

None

 

3,630,000

 

9,734,149

 

13,364,149

 

892,307

 

 

 

9/21/2015

 

300

Houston

 

TX

 

 

 

3,850,000

 

2,884,228

 

None

 

None

 

3,850,000

 

2,884,228

 

6,734,228

 

177,861

 

 

 

6/24/2016

 

300

Katy

 

TX

 

 

 

1,347,454

 

8,564,135

 

None

 

None

 

1,347,454

 

8,564,135

 

9,911,589

 

4,160,646

 

10/28/2005

 

1/25/2005

 

300

Plano

 

TX

 

 

 

5,040,000

 

3,520,851

 

None

 

None

 

5,040,000

 

3,520,851

 

8,560,851

 

217,119

 

 

 

6/24/2016

 

300

San Antonio

 

TX

 

 

 

4,337,454

 

7,312,625

 

500

 

None

 

4,337,454

 

7,313,125

 

11,650,579

 

1,474,967

 

 

 

12/13/2012

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Office supplies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lakewood

 

CA

 

 

 

1,398,387

 

3,098,607

 

181,351

 

10,284

 

1,398,387

 

3,290,242

 

4,688,629

 

2,610,347

 

 

 

1/29/1997

 

300

Riverside

 

CA

 

 

 

1,410,177

 

1,659,850

 

None

 

80

 

1,410,177

 

1,659,930

 

3,070,107

 

1,347,216

 

 

 

9/17/1997

 

300

Casselberry

 

FL

 

 

 

-     

 

1,277,112

 

123,718

 

268

 

-     

 

1,401,098

 

1,401,098

 

661,890

 

7/14/2005

 

1/25/2005

 

300

Hutchinson

 

KS

 

 

 

269,964

 

1,704,013

 

103,877

 

None

 

269,964

 

1,807,890

 

2,077,854

 

1,461,198

 

 

 

6/25/1997

 

300

Salina

 

KS

 

 

 

240,423

 

1,829,837

 

111,873

 

None

 

240,423

 

1,941,710

 

2,182,133

 

1,582,736

 

 

 

6/25/1997

 

300

Asheboro

 

NC

 

 

 

465,557

 

2,176,416

 

21,418

 

153

 

465,557

 

2,197,987

 

2,663,544

 

1,744,435

 

 

 

3/27/1998

 

300

Westbury

 

NY

 

 

 

3,808,076

 

2,377,932

 

221,028

 

338,968

 

3,808,076

 

2,937,928

 

6,746,004

 

2,201,112

 

 

 

9/29/1997

 

300

New Philadelphia

 

OH

 

 

 

726,636

 

1,650,672

 

29,715

 

114

 

726,636

 

1,680,501

 

2,407,137

 

1,390,316

 

 

 

5/30/1997

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other manufacturing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prescott

 

AR

 

 

 

593,604

 

11,944,641

 

None

 

None

 

593,604

 

11,944,641

 

12,538,245

 

1,692,157

 

 

 

1/22/2013

 

420

Tucson

 

AZ

 

14,707,325

 

3,799,899

 

32,101,539

 

249,227

 

468

 

3,799,899

 

32,351,234

 

36,151,133

 

4,640,950

 

 

 

1/22/2013

 

420

East Windsor

 

NJ

 

9,625,000

 

240,000

 

13,307,041

 

22,563

 

None

 

240,000

 

13,329,604

 

13,569,604

 

1,417,669

 

 

 

4/30/2014

 

420

Marysville

 

OH

 

 

 

540,000

 

14,900,974

 

None

 

None

 

540,000

 

14,900,974

 

15,440,974

 

918,893

 

 

 

12/3/2015

 

420

Duncan

 

SC

 

 

 

490,000

 

2,292,068

 

114,521

 

None

 

490,000

 

2,406,589

 

2,896,589

 

291,320

 

 

 

8/29/2013

 

420

El Paso

 

TX

 

 

 

1,769,633

 

17,892,956

 

633,600

 

239,723

 

1,769,633

 

18,766,279

 

20,535,912

 

2,836,619

 

 

 

1/22/2013

 

420

McAllen

 

TX

 

6,012,467

 

1,460,000

 

11,847,054

 

None

 

None

 

1,460,000

 

11,847,054

 

13,307,054

 

352,591

 

 

 

12/21/2016

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Packaging

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denver

 

CO

 

 

 

2,680,000

 

5,645,000

 

None

 

None

 

2,680,000

 

5,645,000

 

8,325,000

 

87,363

 

 

 

6/20/2017

 

420

Mundelein

 

IL

 

 

 

1,900,000

 

12,899,000

 

1,000

 

None

 

1,900,000

 

12,900,000

 

14,800,000

 

383,999

 

 

 

12/22/2016

 

420

Nicholasville

 

KY

 

 

 

1,000,000

 

15,932,000

 

None

 

None

 

1,000,000

 

15,932,000

 

16,932,000

 

625,900

 

 

 

8/22/2016

 

420

Nicholasville

 

KY

 

 

 

3,451,710

 

6,343,890

 

None

 

None

 

3,451,710

 

6,343,890

 

9,795,600

 

7,552

 

 

 

12/1/2017

 

420

Asheville

 

NC

 

 

 

2,482,832

 

9,955,668

 

None

 

None

 

2,482,832

 

9,955,668

 

12,438,500

 

11,852

 

 

 

12/20/2017

 

420

Lewisburg

 

OH

 

2,829,379

 

641,174

 

11,787,510

 

None

 

None

 

641,174

 

11,787,510

 

12,428,684

 

2,455,731

 

 

 

10/19/2012

 

300

Chester

 

VA

 

 

 

1,770,000

 

14,922,913

 

None

 

None

 

1,770,000

 

14,922,913

 

16,692,913

 

1,296,872

 

 

 

12/17/2014

 

420

Raphine

 

VA

 

 

 

2,679,884

 

21,236,904

 

None

 

None

 

2,679,884

 

21,236,904

 

23,916,788

 

5,556,990

 

 

 

6/3/2011

 

300

Wytheville

 

VA

 

 

 

2,175,524

 

33,138,859

 

2,255,121

 

None

 

2,175,524

 

35,393,980

 

37,569,504

 

7,034,732

 

 

 

11/29/2012

 

300

Madison

 

WI

 

 

 

1,500,000

 

14,719,500

 

None

 

None

 

1,500,000

 

14,719,500

 

16,219,500

 

227,802

 

 

 

6/23/2017

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Paper

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marianna

 

FL

 

 

 

1,473,182

 

6,930,359

 

None

 

None

 

1,473,182

 

6,930,359

 

8,403,541

 

1,836,545

 

 

 

5/2/2011

 

300

Columbia

 

SC

 

 

 

989,232

 

5,004,326

 

None

 

None

 

989,232

 

5,004,326

 

5,993,558

 

720,861

 

 

 

12/21/2012

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pet supplies and services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Los Angeles

 

CA

 

 

 

902,494

 

1,676,204

 

437,070

 

182,667

 

902,494

 

2,295,941

 

3,198,435

 

1,378,744

 

 

 

12/31/1998

 

300

Duluth

 

GA

 

 

 

361,058

 

1,591,629

 

None

 

None

 

361,058

 

1,591,629

 

1,952,687

 

1,147,743

 

1/27/1999

 

9/29/1998

 

300

Marietta

 

GA

 

 

 

495,412

 

1,526,370

 

None

 

None

 

495,412

 

1,526,370

 

2,021,782

 

1,084,030

 

5/28/1999

 

9/29/1998

 

300

Ottawa

 

IL

 

 

 

2,351,842

 

52,407,677

 

237,848

 

None

 

2,351,842

 

52,645,525

 

54,997,367

 

7,571,396

 

 

 

1/22/2013

 

420

Indianapolis

 

IN

 

 

 

427,000

 

1,296,901

 

None

 

None

 

427,000

 

1,296,901

 

1,723,901

 

915,122

 

3/10/2000

 

1/19/1999

 

300

Sudbury

 

MA

 

 

 

543,038

 

2,477,213

 

None

 

None

 

543,038

 

2,477,213

 

3,020,251

 

1,728,988

 

11/12/1999

 

9/30/1998

 

300

Tyngsboro

 

MA

 

 

 

312,204

 

1,222,522

 

None

 

None

 

312,204

 

1,222,522

 

1,534,726

 

955,598

 

 

 

6/12/1998

 

300

Warren

 

MI

 

 

 

356,348

 

903,351

 

155,408

 

31,687

 

356,348

 

1,090,446

 

1,446,794

 

860,541

 

 

 

1/9/1998

 

300

Lee’s Summit

 

MO

 

 

 

330,000

 

993,787

 

40,769

 

20,450

 

330,000

 

1,055,006

 

1,385,006

 

734,966

 

7/26/1999

 

6/17/1999

 

300

North Plainfield

 

NJ

 

 

 

985,430

 

1,590,447

 

None

 

None

 

985,430

 

1,590,447

 

2,575,877

 

1,159,287

 

 

 

9/24/1998

 

300

Albuquerque

 

NM

 

 

 

684,036

 

874,914

 

309,469

 

None

 

684,036

 

1,184,383

 

1,868,419

 

900,050

 

 

 

12/31/1998

 

300

Middletown

 

OH

 

 

 

337,572

 

777,943

 

41,328

 

22,683

 

337,572

 

841,954

 

1,179,526

 

675,043

 

 

 

12/30/1997

 

300

Mount Pleasant

 

SC

 

 

 

40,700

 

180,400

 

111,572

 

6,545

 

40,700

 

298,517

 

339,217

 

236,407

 

 

 

12/22/1981

 

180

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restaurants - casual dining

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boaz

 

AL

 

 

 

829,001

 

1,541,245

 

480

 

14,413

 

829,001

 

1,556,138

 

2,385,139

 

699,943

 

 

 

11/1/2006

 

300

Gadsden

 

AL

 

 

 

242,194

 

449,977

 

6,042

 

12,255

 

242,194

 

468,274

 

710,468

 

205,994

 

 

 

9/14/2006

 

300

Gadsden

 

AL

 

 

 

851,124

 

1,582,332

 

83,171

 

25,239

 

851,124

 

1,690,742

 

2,541,866

 

746,084

 

 

 

11/1/2006

 

300

Sylacauga

 

AL

 

 

 

801,413

 

1,490,012

 

71,434

 

19,187

 

801,413

 

1,580,633

 

2,382,046

 

696,337

 

 

 

11/1/2006

 

300

El Dorado

 

AR

 

 

 

907,534

 

1,687,608

 

117,309

 

20,759

 

907,534

 

1,825,676

 

2,733,210

 

795,791

 

 

 

11/1/2006

 

300

Jacksonville

 

AR

 

 

 

267,376

 

497,124

 

29,762

 

11,529

 

267,376

 

538,415

 

805,791

 

228,084

 

 

 

9/14/2006

 

300

Russellville

 

AR

 

 

 

864,497

 

-     

 

None

 

24,800

 

864,497

 

24,800

 

889,297

 

6,167

 

 

 

11/1/2006

 

120

Flagstaff

 

AZ

 

 

 

846,045

 

1,980,383

 

None

 

None

 

846,045

 

1,980,383

 

2,826,428

 

141,927

 

 

 

3/30/2016

 

300

Glendale

 

AZ

 

 

 

624,761

 

895,976

 

120,347

 

50,906

 

624,761

 

1,067,229

 

1,691,990

 

849,382

 

 

 

3/6/1996

 

300

Glendale

 

AZ

 

 

 

1,940,000

 

1,889,732

 

None

 

None

 

1,940,000

 

1,889,732

 

3,829,732

 

135,431

 

 

 

3/30/2016

 

300

Goodyear

 

AZ

 

 

 

794,360

 

1,274,445

 

None

 

None

 

794,360

 

1,274,445

 

2,068,805

 

574,689

 

2/23/2006

 

4/8/2005

 

300

Surprise

 

AZ

 

 

 

681,288

 

1,008,310

 

None

 

None

 

681,288

 

1,008,310

 

1,689,598

 

518,047

 

9/29/2004

 

4/16/2004

 

300

Barstow

 

CA

 

 

 

689,842

 

690,204

 

3,820

 

33,670

 

689,842

 

727,694

 

1,417,536

 

535,782

 

 

 

9/24/1998

 

300

La Verne

 

CA

 

 

 

-     

 

1,477,413

 

None

 

None

 

-     

 

1,477,413

 

1,477,413

 

293,020

 

 

 

1/22/2013

 

300

Rancho Cucamonga

 

CA

 

 

 

95,192

 

441,334

 

None

 

15,946

 

95,192

 

457,280

 

552,472

 

441,512

 

 

 

12/20/1985

 

300

San Dimas

 

CA

 

 

 

240,562

 

445,521

 

91,821

 

2,690

 

240,562

 

540,032

 

780,594

 

531,146

 

 

 

3/12/1981

 

180

Denver

 

CO

 

 

 

540,250

 

1,132,450

 

None

 

None

 

540,250

 

1,132,450

 

1,672,700

 

588,309

 

7/29/2004

 

3/29/2004

 

300

Fort Collins

 

CO

 

 

 

898,688

 

2,103,607

 

None

 

None

 

898,688

 

2,103,607

 

3,002,295

 

150,759

 

 

 

3/30/2016

 

300

Lakewood

 

CO

 

 

 

1,606,511

 

5,865

 

None

 

None

 

1,606,511

 

5,865

 

1,612,376

 

3,139

 

7/26/2006

 

12/31/2002

 

300

Louisville

 

CO

 

 

 

997,040

 

1,721,700

 

None

 

None

 

997,040

 

1,721,700

 

2,718,740

 

123,389

 

 

 

3/30/2016

 

300

Parker

 

CO

 

 

 

778,054

 

1,148,443

 

None

 

4,363

 

778,054

 

1,152,806

 

1,930,860

 

576,443

 

6/10/2005

 

2/23/2005

 

300

Parker

 

CO

 

 

 

-     

 

1,789,040

 

None

 

None

 

-     

 

1,789,040

 

1,789,040

 

354,826

 

 

 

1/22/2013

 

300

Cromwell

 

CT

 

 

 

531,861

 

989,638

 

None

 

None

 

531,861

 

989,638

 

1,521,499

 

397,499

 

 

 

12/19/2007

 

300

East Windsor

 

CT

 

 

 

-     

 

1,235,134

 

None

 

None

 

-     

 

1,235,134

 

1,235,134

 

1,235,134

 

 

 

8/30/2007

 

124

Manchester

 

CT

 

 

 

890,000

 

1,353,727

 

None

 

None

 

890,000

 

1,353,727

 

2,243,727

 

561,774

 

 

 

8/30/2007

 

300

New Milford

 

CT

 

 

 

-     

 

705,127

 

24,437

 

26,125

 

-     

 

755,689

 

755,689

 

326,502

 

 

 

8/30/2007

 

300

Plainville

 

CT

 

 

 

-     

 

1,452,933

 

None

 

None

 

-     

 

1,452,933

 

1,452,933

 

602,945

 

 

 

8/30/2007

 

300

Tewksbury

 

CT

 

 

 

392,079

 

730,927

 

19,598

 

14,701

 

392,079

 

765,226

 

1,157,305

 

313,076

 

 

 

8/30/2007

 

300

Torrington

 

CT

 

 

 

504,167

 

939,051

 

75,434

 

10,000

 

504,167

 

1,024,485

 

1,528,652

 

439,447

 

 

 

8/30/2007

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Windsor Locks

 

CT

 

 

 

844,967

 

1,571,965

 

None

 

None

 

844,967

 

1,571,965

 

2,416,932

 

652,348

 

 

 

8/30/2007

 

300

Jacksonville

 

FL

 

 

 

1,451,180

 

658,461

 

59,396

 

13

 

1,451,180

 

717,870

 

2,169,050

 

329,110

 

8/4/2006

 

5/9/2006

 

300

Lakeland

 

FL

 

 

 

1,018,551

 

1,273,189

 

None

 

None

 

1,018,551

 

1,273,189

 

2,291,740

 

252,516

 

 

 

1/22/2013

 

300

Land O’ Lakes

 

FL

 

 

 

770,136

 

1,190,937

 

None

 

None

 

770,136

 

1,190,937

 

1,961,073

 

566,384

 

10/21/2005

 

3/24/2005

 

300

Melbourne

 

FL

 

 

 

-     

 

790,083

 

18,074

 

285

 

-     

 

808,442

 

808,442

 

808,442

 

 

 

8/30/2007

 

124

New Port Richey

 

FL

 

 

 

929,402

 

1,459,392

 

56,969

 

32,400

 

929,402

 

1,548,761

 

2,478,163

 

718,792

 

11/13/2006

 

8/1/2006

 

300

Orange City

 

FL

 

 

 

1,290,082

 

1,612,603

 

None

 

None

 

1,290,082

 

1,612,603

 

2,902,685

 

319,833

 

 

 

1/22/2013

 

300

Orlando

 

FL

 

 

 

230,000

 

1,066,339

 

None

 

None

 

230,000

 

1,066,339

 

1,296,339

 

1,066,339

 

 

 

11/18/1985

 

300

Orlando

 

FL

 

 

 

1,135,310

 

1,306,940

 

78,395

 

18,309

 

1,135,310

 

1,403,644

 

2,538,954

 

587,516

 

1/10/2007

 

6/30/2006

 

300

Orlando

 

FL

 

 

 

735,000

 

1,367,891

 

None

 

None

 

735,000

 

1,367,891

 

2,102,891

 

567,658

 

 

 

8/30/2007

 

300

Orlando

 

FL

 

 

 

-     

 

790,583

 

24,415

 

38,527

 

-     

 

853,525

 

853,525

 

371,225

 

 

 

8/30/2007

 

300

Sebring

 

FL

 

 

 

737,465

 

921,832

 

None

 

None

 

737,465

 

921,832

 

1,659,297

 

182,830

 

 

 

1/22/2013

 

300

Spring Hill

 

FL

 

 

 

1,100,000

 

2,128,182

 

None

 

None

 

1,100,000

 

2,128,182

 

3,228,182

 

46,111

 

 

 

6/28/2017

 

300

Vero Beach

 

FL

 

 

 

1,381,247

 

1,726,559

 

None

 

None

 

1,381,247

 

1,726,559

 

3,107,806

 

342,434

 

 

 

1/22/2013

 

300

Winter Haven

 

FL

 

 

 

2,040,000

 

1,830,126

 

None

 

None

 

2,040,000

 

1,830,126

 

3,870,126

 

39,653

 

 

 

6/28/2017

 

300

Leesburg

 

FL

 

 

 

1,060,000

 

1,914,025

 

None

 

None

 

1,060,000

 

1,914,025

 

2,974,025

 

41,471

 

 

 

6/28/2017

 

300

Americus

 

GA

 

 

 

709,624

 

1,319,578

 

146,843

 

6,036

 

709,624

 

1,472,457

 

2,182,081

 

642,309

 

 

 

11/1/2006

 

300

Buford

 

GA

 

 

 

1,229,933

 

1,537,417

 

2,000

 

None

 

1,229,933

 

1,539,417

 

2,769,350

 

305,067

 

 

 

1/22/2013

 

300

Conyers

 

GA

 

 

 

1,047,499

 

2,451,936

 

None

 

None

 

1,047,499

 

2,451,936

 

3,499,435

 

175,722

 

 

 

3/30/2016

 

300

Douglasville

 

GA

 

 

 

1,345,928

 

2,324,166

 

None

 

None

 

1,345,928

 

2,324,166

 

3,670,094

 

166,565

 

 

 

3/30/2016

 

300

Gainesville

 

GA

 

 

 

922,954

 

2,160,409

 

None

 

None

 

922,954

 

2,160,409

 

3,083,363

 

154,829

 

 

 

3/30/2016

 

300

Garden City

 

GA

 

 

 

197,225

 

438,043

 

142,590

 

3,257

 

197,225

 

583,890

 

781,115

 

501,609

 

 

 

4/20/1989

 

300

Lithonia

 

GA

 

 

 

89,220

 

-     

 

None

 

246

 

89,220

 

246

 

89,466

 

168

 

 

 

1/4/1985

 

60

Norcross

 

GA

 

 

 

827,707

 

1,538,875

 

115,596

 

16,522

 

827,707

 

1,670,993

 

2,498,700

 

763,448

 

 

 

11/1/2006

 

300

Savannah

 

GA

 

 

 

719,188

 

1,337,352

 

93,855

 

23,190

 

719,188

 

1,454,397

 

2,173,585

 

644,783

 

 

 

11/1/2006

 

300

Savannah

 

GA

 

 

 

1,204,088

 

2,079,235

 

None

 

None

 

1,204,088

 

2,079,235

 

3,283,323

 

149,012

 

 

 

3/30/2016

 

300

Statesboro

 

GA

 

 

 

926,462

 

1,722,290

 

None

 

19,800

 

926,462

 

1,742,090

 

2,668,552

 

772,152

 

 

 

11/1/2006

 

300

Suwanee

 

GA

 

 

 

1,490,000

 

2,065,314

 

None

 

None

 

1,490,000

 

2,065,314

 

3,555,314

 

148,014

 

 

 

3/30/2016

 

300

Thomasville

 

GA

 

 

 

894,504

 

1,662,939

 

87,387

 

26,155

 

894,504

 

1,776,481

 

2,670,985

 

809,545

 

 

 

11/1/2006

 

300

Valdosta

 

GA

 

 

 

901,658

 

1,676,225

 

4,820

 

30,696

 

901,658

 

1,711,741

 

2,613,399

 

779,206

 

 

 

11/1/2006

 

300

Warner Robins

 

GA

 

 

 

896,841

 

1,667,267

 

(1,259,913

)

349

 

896,841

 

407,703

 

1,304,544

 

794,865

 

 

 

11/1/2006

 

300

Warner Robins

 

GA

 

 

 

1,286,698

 

2,221,885

 

None

 

None

 

1,286,698

 

2,221,885

 

3,508,583

 

159,235

 

 

 

3/30/2016

 

300

Waycross

 

GA

 

 

 

956,765

 

1,778,566

 

None

 

None

 

956,765

 

1,778,566

 

2,735,331

 

791,461

 

 

 

11/1/2006

 

300

Ankeny

 

IA

 

 

 

100,000

 

349,218

 

25,075

 

642

 

100,000

 

374,935

 

474,935

 

374,442

 

 

 

7/28/1983

 

180

Burlington

 

IA

 

 

 

653,057

 

1,214,571

 

(578,090

)

757

 

653,057

 

637,238

 

1,290,295

 

547,405

 

 

 

11/1/2006

 

300

Cedar Rapids

 

IA

 

 

 

822,331

 

1,528,939

 

None

 

202

 

822,331

 

1,529,141

 

2,351,472

 

680,397

 

 

 

11/1/2006

 

300

Clive

 

IA

 

 

 

840,697

 

1,563,046

 

(861,900

)

558

 

840,697

 

701,704

 

1,542,401

 

680,671

 

 

 

11/1/2006

 

300

Sioux City

 

IA

 

 

 

979,171

 

1,690,845

 

None

 

None

 

979,171

 

1,690,845

 

2,670,016

 

121,177

 

 

 

3/30/2016

 

300

Nampa

 

ID

 

 

 

74,156

 

343,820

 

28,206

 

None

 

74,156

 

372,026

 

446,182

 

358,783

 

 

 

12/31/1986

 

300

Rexburg

 

ID

 

 

 

90,760

 

420,787

 

59,798

 

None

 

90,760

 

480,585

 

571,345

 

450,740

 

 

 

11/25/1985

 

300

Alton

 

IL

 

 

 

225,785

 

419,315

 

75,320

 

23,817

 

225,785

 

518,452

 

744,237

 

437,104

 

 

 

10/18/1988

 

300

Champaign

 

IL

 

 

 

805,888

 

1,498,402

 

3,419

 

None

 

805,888

 

1,501,821

 

2,307,709

 

667,101

 

 

 

11/1/2006

 

300

Champaign

 

IL

 

 

 

590,000

 

2,081,355

 

None

 

None

 

590,000

 

2,081,355

 

2,671,355

 

149,164

 

 

 

3/30/2016

 

300

Effingham

 

IL

 

 

 

783,528

 

1,456,874

 

None

 

None

 

783,528

 

1,456,874

 

2,240,402

 

648,308

 

 

 

11/1/2006

 

300

Mount Vernon

 

IL

 

 

 

883,110

 

1,641,741

 

None

 

None

 

883,110

 

1,641,741

 

2,524,851

 

730,574

 

 

 

11/1/2006

 

300

Oswego

 

IL

 

 

 

953,394

 

1,208,677

 

1,988

 

32,467

 

953,394

 

1,243,132

 

2,196,526

 

610,367

 

6/15/2005

 

6/24/2005

 

300

Peoria

 

IL

 

 

 

662,460

 

1,060,577

 

14,651

 

12,085

 

662,460

 

1,087,313

 

1,749,773

 

571,864

 

10/13/2004

 

6/15/2004

 

300

Swansea

 

IL

 

 

 

890,625

 

1,655,743

 

288,559

 

21,851

 

890,625

 

1,966,153

 

2,856,778

 

915,122

 

 

 

11/1/2006

 

300

Waukegan

 

IL

 

 

 

1,330,000

 

2,470,909

 

None

 

150

 

1,330,000

 

2,471,059

 

3,801,059

 

992,509

 

 

 

12/21/2007

 

300

Anderson

 

IN

 

 

 

831,077

 

1,545,131

 

16,655

 

30,694

 

831,077

 

1,592,480

 

2,423,557

 

719,881

 

 

 

11/1/2006

 

300

Evansville

 

IN

 

 

 

999,824

 

1,726,507

 

None

 

None

 

999,824

 

1,726,507

 

2,726,331

 

123,733

 

 

 

3/30/2016

 

300

Lafayette

 

IN

 

 

 

1,273,149

 

2,198,489

 

None

 

None

 

1,273,149

 

2,198,489

 

3,471,638

 

157,558

 

 

 

3/30/2016

 

300

Marion

 

IN

 

 

 

685,194

 

1,274,206

 

45,372

 

19,275

 

685,194

 

1,338,853

 

2,024,047

 

606,938

 

 

 

11/1/2006

 

300

El Dorado

 

KS

 

 

 

87,400

 

405,206

 

50,518

 

None

 

87,400

 

455,724

 

543,124

 

427,250

 

 

 

4/10/1986

 

300

Salina

 

KS

 

 

 

683,265

 

1,647,429

 

None

 

None

 

683,265

 

1,647,429

 

2,330,694

 

160,129

 

7/27/2015

 

12/17/2014

 

300

Shawnee

 

KS

 

 

 

953,916

 

1,773,245

 

None

 

None

 

953,916

 

1,773,245

 

2,727,161

 

789,093

 

 

 

11/1/2006

 

300

Shawnee

 

KS

 

 

 

-     

 

1,573,049

 

None

 

None

 

-     

 

1,573,049

 

1,573,049

 

311,988

 

 

 

1/22/2013

 

300

Topeka

 

KS

 

 

 

1,005,484

 

1,256,855

 

None

 

None

 

1,005,484

 

1,256,855

 

2,262,339

 

249,276

 

 

 

1/22/2013

 

300

Wichita

 

KS

 

 

 

900,768

 

2,108,474

 

None

 

None

 

900,768

 

2,108,474

 

3,009,242

 

151,107

 

 

 

3/30/2016

 

300

Murray

 

KY

 

 

 

831,246

 

1,545,422

 

111,189

 

None

 

831,246

 

1,656,611

 

2,487,857

 

723,884

 

 

 

11/1/2006

 

300

Richmond

 

KY

 

 

 

913,770

 

1,698,726

 

None

 

183

 

913,770

 

1,698,909

 

2,612,679

 

755,996

 

 

 

11/1/2006

 

300

Alexandria

 

LA

 

 

 

-     

 

1,118,270

 

None

 

None

 

-     

 

1,118,270

 

1,118,270

 

221,790

 

 

 

1/22/2013

 

300

Alexandria

 

LA

 

 

 

740,000

 

1,800,869

 

None

 

None

 

740,000

 

1,800,869

 

2,540,869

 

129,062

 

 

 

3/30/2016

 

300

Baton Rouge

 

LA

 

 

 

-     

 

1,748,499

 

None

 

None

 

-     

 

1,748,499

 

1,748,499

 

346,786

 

 

 

1/22/2013

 

300

Covington

 

LA

 

 

 

1,250,677

 

2,159,685

 

None

 

None

 

1,250,677

 

2,159,685

 

3,410,362

 

154,777

 

 

 

3/30/2016

 

300

Houma

 

LA

 

 

 

1,061,671

 

1,973,864

 

12,063

 

48,189

 

1,061,671

 

2,034,116

 

3,095,787

 

907,646

 

 

 

11/1/2006

 

300

Lafayette

 

LA

 

 

 

980,000

 

2,171,859

 

None

 

None

 

980,000

 

2,171,859

 

3,151,859

 

47,057

 

 

 

6/28/2017

 

300

Lake Charles

 

LA

 

 

 

790,398

 

1,850,125

 

None

 

None

 

790,398

 

1,850,125

 

2,640,523

 

132,592

 

 

 

3/30/2016

 

300

New Iberia

 

LA

 

 

 

917,582

 

1,706,269

 

80,944

 

30,339

 

917,582

 

1,817,552

 

2,735,134

 

822,758

 

 

 

11/1/2006

 

300

Opelousas

 

LA

 

 

 

949,157

 

1,764,908

 

(1,243,612

)

567

 

949,157

 

521,863

 

1,471,020

 

829,225

 

 

 

11/1/2006

 

300

Ruston

 

LA

 

 

 

982,427

 

1,826,696

 

None

 

None

 

982,427

 

1,826,696

 

2,809,123

 

812,878

 

 

 

11/1/2006

 

300

Shreveport

 

LA

 

 

 

269,130

 

500,382

 

None

 

10,357

 

269,130

 

510,739

 

779,869

 

227,671

 

 

 

9/14/2006

 

300

Slidell

 

LA

 

 

 

1,340,000

 

2,019,213

 

None

 

None

 

1,340,000

 

2,019,213

 

3,359,213

 

124,518

 

 

 

6/29/2016

 

300

West Monroe

 

LA

 

 

 

839,404

 

1,964,836

 

None

 

None

 

839,404

 

1,964,836

 

2,804,240

 

140,813

 

 

 

3/30/2016

 

300

Zachary

 

LA

 

 

 

898,306

 

1,670,527

 

51,691

 

28,442

 

898,306

 

1,750,660

 

2,648,966

 

767,324

 

 

 

11/1/2006

 

300

Amesbury

 

MA

 

 

 

-     

 

790,494

 

None

 

None

 

-     

 

790,494

 

790,494

 

546,361

 

 

 

8/30/2007

 

180

Attleboro

 

MA

 

 

 

369,815

 

693,655

 

None

 

None

 

369,815

 

693,655

 

1,063,470

 

445,094

 

 

 

12/19/2001

 

300

Auburn

 

MA

 

 

 

418,250

 

779,623

 

500

 

None

 

418,250

 

780,123

 

1,198,373

 

324,026

 

 

 

8/30/2007

 

300

Chicopee

 

MA

 

 

 

761,606

 

1,417,624

 

None

 

None

 

761,606

 

1,417,624

 

2,179,230

 

588,297

 

 

 

8/30/2007

 

300

Chicopee Falls

 

MA

 

 

 

302,982

 

565,894

 

65,789

 

7,544

 

302,982

 

639,227

 

942,209

 

272,486

 

 

 

8/30/2007

 

300

East Longmeadow

 

MA

 

 

 

614,319

 

1,144,128

 

None

 

None

 

614,319

 

1,144,128

 

1,758,447

 

474,796

 

 

 

8/30/2007

 

300

Gardner

 

MA

 

 

 

625,000

 

828,564

 

None

 

None

 

625,000

 

828,564

 

1,453,564

 

523,320

 

 

 

8/30/2007

 

197

Great Barrington

 

MA

 

 

 

422,625

 

788,089

 

91,875

 

10,347

 

422,625

 

890,311

 

1,312,936

 

369,990

 

 

 

8/30/2007

 

300

Greenfield

 

MA

 

 

 

761,417

 

1,417,273

 

None

 

None

 

761,417

 

1,417,273

 

2,178,690

 

588,151

 

 

 

8/30/2007

 

300

Haverhill

 

MA

 

 

 

568,635

 

1,058,815

 

None

 

None

 

568,635

 

1,058,815

 

1,627,450

 

439,391

 

 

 

8/30/2007

 

300

Holyoke

 

MA

 

 

 

577,667

 

1,076,023

 

None

 

None

 

577,667

 

1,076,023

 

1,653,690

 

446,533

 

 

 

8/30/2007

 

300

Lee

 

MA

 

 

 

540,506

 

1,007,010

 

None

 

None

 

540,506

 

1,007,010

 

1,547,516

 

417,892

 

 

 

8/30/2007

 

300

North Adams

 

MA

 

 

 

377,300

 

703,914

 

(646,163

)

351

 

377,300

 

58,102

 

435,402

 

300,835

 

 

 

8/30/2007

 

300

Norwood

 

MA

 

 

 

840,616

 

1,563,923

 

None

 

None

 

840,616

 

1,563,923

 

2,404,539

 

649,011

 

 

 

8/30/2007

 

300

Palmer

 

MA

 

 

 

141,524

 

598,480

 

None

 

None

 

141,524

 

598,480

 

740,004

 

384,023

 

 

 

12/19/2001

 

300

Pittsfield

 

MA

 

 

 

286,241

 

950,022

 

None

 

None

 

286,241

 

950,022

 

1,236,263

 

609,596

 

 

 

12/19/2001

 

300

Raynham

 

MA

 

 

 

761,417

 

1,417,287

 

None

 

None

 

761,417

 

1,417,287

 

2,178,704

 

588,156

 

 

 

8/30/2007

 

300

Sagamore Beach

 

MA

 

 

 

620,188

 

1,155,007

 

None

 

None

 

620,188

 

1,155,007

 

1,775,195

 

479,311

 

 

 

8/30/2007

 

300

Saugus

 

MA

 

 

 

-     

 

737,971

 

None

 

None

 

-     

 

737,971

 

737,971

 

411,363

 

 

 

8/30/2007

 

300

Seekonk

 

MA

 

 

 

614,417

 

1,144,267

 

None

 

None

 

614,417

 

1,144,267

 

1,758,684

 

474,854

 

 

 

8/30/2007

 

300

South Dartmouth

 

MA

 

 

 

379,217

 

707,492

 

15,163

 

79

 

379,217

 

722,734

 

1,101,951

 

295,939

 

 

 

8/30/2007

 

300

Springfield

 

MA

 

 

 

230,030

 

865,572

 

None

 

None

 

230,030

 

865,572

 

1,095,602

 

555,407

 

 

 

12/19/2001

 

300

Springfield

 

MA

 

 

 

227,207

 

958,444

 

None

 

None

 

227,207

 

958,444

 

1,185,651

 

615,000

 

 

 

12/19/2001

 

300

Stoneham

 

MA

 

 

 

397,544

 

191,717

 

None

 

None

 

397,544

 

191,717

 

589,261

 

123,017

 

 

 

12/19/2001

 

300

Sudbury

 

MA

 

 

 

-     

 

633,843

 

100,354

 

28,761

 

-     

 

762,958

 

762,958

 

362,375

 

 

 

8/30/2007

 

224

Swansea

 

MA

 

 

 

173,853

 

488,699

 

None

 

None

 

173,853

 

488,699

 

662,552

 

313,580

 

 

 

12/19/2001

 

300

West Springfield

 

MA

 

 

 

243,556

 

455,532

 

128,262

 

9,894

 

243,556

 

593,688

 

837,244

 

237,327

 

 

 

8/30/2007

 

300

West Springfield

 

MA

 

 

 

761,417

 

1,417,273

 

None

 

None

 

761,417

 

1,417,273

 

2,178,690

 

588,151

 

 

 

8/30/2007

 

300

Wilbraham

 

MA

 

 

 

9,626,112

 

19,964,016

 

2,500

 

None

 

9,626,112

 

19,966,516

 

29,592,628

 

7,613,075

 

 

 

8/30/2007

 

300

Wollaston

 

MA

 

 

 

411,366

 

766,745

 

None

 

None

 

411,366

 

766,745

 

1,178,111

 

318,182

 

 

 

8/30/2007

 

300

Worcester

 

MA

 

 

 

578,336

 

1,077,426

 

None

 

None

 

578,336

 

1,077,426

 

1,655,762

 

447,115

 

 

 

8/30/2007

 

300

Windham

 

ME

 

 

 

-     

 

831,301

 

1,000

 

None

 

-     

 

832,301

 

832,301

 

345,967

 

 

 

8/30/2007

 

300

Flint

 

MI

 

 

 

827,853

 

-     

 

5,631

 

94

 

827,853

 

5,725

 

833,578

 

1,141

 

 

 

4/13/1995

 

120

Flint

 

MI

 

 

 

885,144

 

1,645,531

 

70,987

 

32,018

 

885,144

 

1,748,536

 

2,633,680

 

797,247

 

 

 

11/1/2006

 

300

Lansing

 

MI

 

 

 

873,536

 

1,623,973

 

None

 

55,078

 

873,536

 

1,679,051

 

2,552,587

 

728,207

 

 

 

11/1/2006

 

300

Saginaw

 

MI

 

 

 

766,531

 

1,425,263

 

14,030

 

23,051

 

766,531

 

1,462,344

 

2,228,875

 

662,836

 

 

 

11/1/2006

 

300

Saginaw

 

MI

 

 

 

1,153,595

 

1,992,043

 

None

 

None

 

1,153,595

 

1,992,043

 

3,145,638

 

142,763

 

 

 

3/30/2016

 

300

Champlin

 

MN

 

 

 

583,515

 

729,394

 

None

 

None

 

583,515

 

729,394

 

1,312,909

 

144,663

 

 

 

1/22/2013

 

300

Inver Grove Hghts

 

MN

 

 

 

1,010,000

 

2,344,614

 

None

 

None

 

1,010,000

 

2,344,614

 

3,354,614

 

168,031

 

 

 

3/30/2016

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Roseville

 

MN

 

 

 

281,600

 

1,305,560

 

None

 

288

 

281,600

 

1,305,848

 

1,587,448

 

1,305,736

 

 

 

12/18/1984

 

300

Bridgeton

 

MO

 

 

 

743,559

 

1,585,207

 

295,301

 

21,240

 

743,559

 

1,901,748

 

2,645,307

 

796,049

 

 

 

11/1/2006

 

300

Farmington

 

MO

 

 

 

780,812

 

1,451,767

 

214,865

 

25,259

 

780,812

 

1,691,891

 

2,472,703

 

732,928

 

 

 

11/1/2006

 

300

Festus

 

MO

 

 

 

808,595

 

1,503,364

 

(664,610

)

2,875

 

808,595

 

841,629

 

1,650,224

 

632,386

 

 

 

11/1/2006

 

300

Hazelwood

 

MO

 

 

 

157,117

 

725,327

 

(104,329

)

None

 

157,117

 

620,998

 

778,115

 

620,998

 

 

 

8/28/1985

 

480

Jefferson City

 

MO

 

 

 

713,088

 

1,325,993

 

98,612

 

22,035

 

713,088

 

1,446,640

 

2,159,728

 

621,507

 

 

 

11/1/2006

 

300

Kansas City

 

MO

 

 

 

715,640

 

894,550

 

None

 

None

 

715,640

 

894,550

 

1,610,190

 

177,419

 

 

 

1/22/2013

 

300

Kansas City

 

MO

 

 

 

872,364

 

1,090,455

 

None

 

None

 

872,364

 

1,090,455

 

1,962,819

 

216,274

 

 

 

1/22/2013

 

300

Ozark

 

MO

 

 

 

140,000

 

292,482

 

None

 

None

 

140,000

 

292,482

 

432,482

 

235,438

 

 

 

11/20/1997

 

300

Poplar Bluff

 

MO

 

 

 

774,256

 

1,439,603

 

None

 

None

 

774,256

 

1,439,603

 

2,213,859

 

640,622

 

 

 

11/1/2006

 

300

Raymore

 

MO

 

 

 

726,583

 

1,351,055

 

12,549

 

23,779

 

726,583

 

1,387,383

 

2,113,966

 

606,038

 

 

 

11/1/2006

 

300

Sedalia

 

MO

 

 

 

269,798

 

599,231

 

11,556

 

None

 

269,798

 

610,787

 

880,585

 

610,787

 

 

 

7/31/1989

 

300

Springfield

 

MO

 

 

 

-     

 

1,390,167

 

None

 

None

 

-     

 

1,390,167

 

1,390,167

 

275,716

 

 

 

1/22/2013

 

300

St. Charles

 

MO

 

 

 

175,413

 

809,791

 

None

 

81

 

175,413

 

809,872

 

985,285

 

809,839

 

 

 

8/28/1985

 

300

St. Charles

 

MO

 

 

 

695,121

 

1,001,878

 

None

 

1,149

 

695,121

 

1,003,027

 

1,698,148

 

883,751

 

12/22/1995

 

3/16/1995

 

300

St. Robert

 

MO

 

 

 

744,158

 

1,383,694

 

None

 

31,455

 

744,158

 

1,415,149

 

2,159,307

 

638,711

 

 

 

11/1/2006

 

300

Sullivan

 

MO

 

 

 

85,500

 

396,400

 

(40,743

)

13,500

 

85,500

 

369,157

 

454,657

 

367,128

 

 

 

12/27/1984

 

480

Columbus

 

MS

 

 

 

720,310

 

1,339,963

 

None

 

None

 

720,310

 

1,339,963

 

2,060,273

 

596,282

 

 

 

11/1/2006

 

300

Corinth

 

MS

 

 

 

867,086

 

1,612,029

 

None

 

81

 

867,086

 

1,612,110

 

2,479,196

 

717,400

 

 

 

11/1/2006

 

300

Hattiesburg

 

MS

 

 

 

856,070

 

1,592,088

 

None

 

None

 

856,070

 

1,592,088

 

2,448,158

 

708,478

 

 

 

11/1/2006

 

300

Meridian

 

MS

 

 

 

-     

 

2,481,172

 

234,694

 

19,128

 

-     

 

2,734,994

 

2,734,994

 

1,113,062

 

 

 

11/1/2006

 

300

Vicksburg

 

MS

 

 

 

698,189

 

1,298,881

 

(736,106

)

690

 

698,189

 

563,465

 

1,261,654

 

637,524

 

 

 

11/1/2006

 

300

Durham

 

NC

 

 

 

1,034,787

 

2,422,182

 

None

 

None

 

1,034,787

 

2,422,182

 

3,456,969

 

173,590

 

 

 

3/30/2016

 

300

Forest City

 

NC

 

 

 

872,424

 

1,621,940

 

(1,305,000

)

183

 

872,424

 

317,123

 

1,189,547

 

721,826

 

 

 

11/1/2006

 

300

Gastonia

 

NC

 

 

 

1,340,000

 

2,655,512

 

None

 

None

 

1,340,000

 

2,655,512

 

3,995,512

 

57,536

 

 

 

6/28/2017

 

300

Goldsboro

 

NC

 

 

 

811,502

 

1,509,029

 

72,109

 

35,050

 

811,502

 

1,616,188

 

2,427,690

 

736,887

 

 

 

11/1/2006

 

300

Greenville

 

NC

 

 

 

760,000

 

1,837,890

 

None

 

None

 

760,000

 

1,837,890

 

2,597,890

 

131,715

 

 

 

3/30/2016

 

300

Highpoint

 

NC

 

 

 

1,170,000

 

2,301,150

 

None

 

None

 

1,170,000

 

2,301,150

 

3,471,150

 

141,904

 

 

 

6/29/2016

 

300

Lumberton

 

NC

 

 

 

1,560,000

 

2,521,795

 

None

 

None

 

1,560,000

 

2,521,795

 

4,081,795

 

180,729

 

 

 

3/30/2016

 

300

Rocky Mount

 

NC

 

 

 

996,506

 

2,332,575

 

None

 

None

 

996,506

 

2,332,575

 

3,329,081

 

167,168

 

 

 

3/30/2016

 

300

Salisbury

 

NC

 

 

 

777,412

 

1,445,863

 

(821,200

)

None

 

777,412

 

624,663

 

1,402,075

 

615,584

 

 

 

11/1/2006

 

300

Salisbury

 

NC

 

 

 

650,000

 

2,103,127

 

None

 

None

 

650,000

 

2,103,127

 

2,753,127

 

129,693

 

 

 

6/29/2016

 

300

Southern Pines

 

NC

 

 

 

1,444,847

 

2,494,980

 

None

 

None

 

1,444,847

 

2,494,980

 

3,939,827

 

178,807

 

 

 

3/30/2016

 

300

Sylva

 

NC

 

 

 

919,724

 

1,709,783

 

None

 

131

 

919,724

 

1,709,914

 

2,629,638

 

760,983

 

 

 

11/1/2006

 

300

Winston-Salem

 

NC

 

 

 

1,093,829

 

2,560,382

 

None

 

None

 

1,093,829

 

2,560,382

 

3,654,211

 

183,494

 

 

 

3/30/2016

 

300

Bellevue

 

NE

 

 

 

656,061

 

1,004,384

 

None

 

None

 

656,061

 

1,004,384

 

1,660,445

 

488,353

 

9/20/2005

 

2/24/2005

 

300

Omaha

 

NE

 

 

 

592,716

 

1,009,253

 

None

 

32

 

592,716

 

1,009,285

 

1,602,001

 

502,301

 

5/5/2005

 

12/21/2004

 

300

Papillion

 

NE

 

 

 

654,788

 

908,685

 

None

 

None

 

654,788

 

908,685

 

1,563,473

 

456,561

 

3/9/2005

 

1/12/2005

 

300

Concord

 

NH

 

 

 

577,667

 

1,075,628

 

None

 

None

 

577,667

 

1,075,628

 

1,653,295

 

446,369

 

 

 

8/30/2007

 

300

Concord

 

NH

 

 

 

849,884

 

1,581,175

 

None

 

None

 

849,884

 

1,581,175

 

2,431,059

 

656,171

 

 

 

8/30/2007

 

300

Dover

 

NH

 

 

 

687,917

 

1,280,378

 

None

 

None

 

687,917

 

1,280,378

 

1,968,295

 

531,340

 

 

 

8/30/2007

 

300

Laconia

 

NH

 

 

 

330,520

 

467,594

 

None

 

None

 

330,520

 

467,594

 

798,114

 

300,038

 

 

 

12/19/2001

 

300

Manchester

 

NH

 

 

 

266,337

 

486,676

 

None

 

None

 

266,337

 

486,676

 

753,013

 

312,282

 

 

 

12/19/2001

 

300

Portsmouth

 

NH

 

 

 

391,650

 

730,167

 

37,475

 

18,167

 

391,650

 

785,809

 

1,177,459

 

339,020

 

 

 

8/30/2007

 

300

Rochester

 

NH

 

 

 

262,059

 

695,771

 

None

 

None

 

262,059

 

695,771

 

957,830

 

446,451

 

 

 

12/19/2001

 

300

Clark

 

NJ

 

 

 

541,792

 

1,009,085

 

None

 

None

 

541,792

 

1,009,085

 

1,550,877

 

418,753

 

 

 

8/30/2007

 

300

Hackettstown

 

NJ

 

 

 

307,186

 

525,142

 

None

 

None

 

307,186

 

525,142

 

832,328

 

336,964

 

 

 

12/19/2001

 

300

Middletown

 

NJ

 

 

 

-     

 

640,403

 

31,043

 

7

 

-     

 

671,453

 

671,453

 

671,453

 

 

 

8/30/2007

 

124

Mount Holly

 

NJ

 

 

 

-     

 

1,092,178

 

None

 

None

 

-     

 

1,092,178

 

1,092,178

 

438,688

 

 

 

12/17/2007

 

300

Pompton Plains

 

NJ

 

 

 

455,700

 

849,125

 

88,127

 

17,448

 

455,700

 

954,700

 

1,410,400

 

367,511

 

 

 

8/30/2007

 

300

Toms River

 

NJ

 

 

 

826,449

 

1,537,659

 

None

 

None

 

826,449

 

1,537,659

 

2,364,108

 

638,111

 

 

 

8/30/2007

 

300

Albuquerque

 

NM

 

 

 

-     

 

1,307,933

 

None

 

None

 

-     

 

1,307,933

 

1,307,933

 

259,407

 

 

 

1/22/2013

 

300

Albany

 

NY

 

 

 

457,538

 

852,510

 

42,302

 

13,692

 

457,538

 

908,504

 

1,366,042

 

387,799

 

 

 

8/30/2007

 

300

Clifton Park

 

NY

 

 

 

1,040,997

 

1,936,100

 

None

 

None

 

1,040,997

 

1,936,100

 

2,977,097

 

803,464

 

 

 

8/30/2007

 

300

Delmar

 

NY

 

 

 

316,382

 

590,387

 

24,178

 

14,789

 

316,382

 

629,354

 

945,736

 

276,860

 

 

 

8/30/2007

 

300

East Greenbush

 

NY

 

 

 

623,313

 

1,160,389

 

None

 

None

 

623,313

 

1,160,389

 

1,783,702

 

481,544

 

 

 

8/30/2007

 

300

New Hartford

 

NY

 

 

 

226,041

 

422,563

 

None

 

None

 

226,041

 

422,563

 

648,604

 

175,346

 

 

 

8/30/2007

 

300

Plattsburgh

 

NY

 

 

 

977,012

 

1,817,269

 

None

 

None

 

977,012

 

1,817,269

 

2,794,281

 

754,150

 

 

 

8/30/2007

 

300

Rochester

 

NY

 

 

 

-     

 

1,911,958

 

None

 

None

 

-     

 

1,911,958

 

1,911,958

 

379,205

 

 

 

1/22/2013

 

300

Akron

 

OH

 

 

 

723,347

 

17

 

249,106

 

23,690

 

723,347

 

272,813

 

996,160

 

56,360

 

 

 

12/22/1994

 

180

Akron

 

OH

 

 

 

318,182

 

593,654

 

39,113

 

None

 

318,182

 

632,767

 

950,949

 

250,134

 

 

 

8/30/2007

 

300

Dayton

 

OH

 

 

 

1,284,902

 

2,218,783

 

None

 

None

 

1,284,902

 

2,218,783

 

3,503,685

 

159,013

 

 

 

3/30/2016

 

300

Defiance

 

OH

 

 

 

71,273

 

135,109

 

None

 

None

 

71,273

 

135,109

 

206,382

 

56,053

 

 

 

8/30/2007

 

300

Elyria

 

OH

 

 

 

79,545

 

150,491

 

None

 

None

 

79,545

 

150,491

 

230,036

 

62,436

 

 

 

8/30/2007

 

300

Marion

 

OH

 

 

 

739,651

 

1,375,358

 

186,367

 

21,626

 

739,651

 

1,583,351

 

2,323,002

 

618,581

 

 

 

11/1/2006

 

300

Mason

 

OH

 

 

 

770,000

 

2,246,001

 

None

 

None

 

770,000

 

2,246,001

 

3,016,001

 

138,503

 

 

 

6/29/2016

 

300

Maumee

 

OH

 

 

 

296,970

 

555,134

 

None

 

None

 

296,970

 

555,134

 

852,104

 

230,360

 

 

 

8/30/2007

 

300

Mount Vernon

 

OH

 

 

 

147,212

 

276,407

 

None

 

4,600

 

147,212

 

281,007

 

428,219

 

114,744

 

 

 

8/30/2007

 

300

Parma Heights

 

OH

 

 

 

275,758

 

514,866

 

None

 

None

 

275,758

 

514,866

 

790,624

 

213,652

 

 

 

8/30/2007

 

300

Sandusky

 

OH

 

 

 

824,270

 

1,532,494

 

None

 

None

 

824,270

 

1,532,494

 

2,356,764

 

681,958

 

 

 

11/1/2006

 

300

Sandusky

 

OH

 

 

 

128,158

 

240,761

 

None

 

None

 

128,158

 

240,761

 

368,919

 

99,898

 

 

 

8/30/2007

 

300

Springdale

 

OH

 

 

 

1,895,200

 

2,369,000

 

None

 

None

 

1,895,200

 

2,369,000

 

4,264,200

 

469,852

 

 

 

1/22/2013

 

300

Stow

 

OH

 

 

 

317,546

 

712,455

 

None

 

114

 

317,546

 

712,569

 

1,030,115

 

712,569

 

 

 

12/31/1987

 

300

Westlake

 

OH

 

 

 

922,871

 

2,160,212

 

None

 

None

 

922,871

 

2,160,212

 

3,083,083

 

154,815

 

 

 

3/30/2016

 

300

Norman

 

OK

 

 

 

734,335

 

335,097

 

None

 

78,164

 

734,335

 

413,261

 

1,147,596

 

209,095

 

9/29/1995

 

6/5/1995

 

300

Norman

 

OK

 

 

 

1,260,559

 

2,176,748

 

None

 

None

 

1,260,559

 

2,176,748

 

3,437,307

 

156,000

 

 

 

3/30/2016

 

300

Oklahoma City

 

OK

 

 

 

759,826

 

-     

 

235,726

 

34,874

 

759,826

 

270,600

 

1,030,426

 

33,710

 

 

 

7/6/1995

 

240

Oklahoma City

 

OK

 

 

 

1,165,405

 

2,165,989

 

None

 

45,131

 

1,165,405

 

2,211,120

 

3,376,525

 

984,666

 

 

 

11/1/2006

 

300

Ponca City

 

OK

 

 

 

625,000

 

1,454,300

 

None

 

None

 

625,000

 

1,454,300

 

2,079,300

 

127,657

 

10/7/2015

 

1/20/2015

 

300

Tulsa

 

OK

 

 

 

490,000

 

910,004

 

None

 

None

 

490,000

 

910,004

 

1,400,004

 

435,285

 

 

 

1/24/2006

 

300

Tulsa

 

OK

 

 

 

360,500

 

669,605

 

14,520

 

None

 

360,500

 

684,125

 

1,044,625

 

314,714

 

 

 

5/10/2006

 

300

Tulsa

 

OK

 

 

 

1,021,904

 

1,899,486

 

29,140

 

21,989

 

1,021,904

 

1,950,615

 

2,972,519

 

866,406

 

 

 

11/1/2006

 

300

Beaverton

 

OR

 

 

 

-     

 

1,689,352

 

None

 

None

 

-     

 

1,689,352

 

1,689,352

 

335,055

 

 

 

1/22/2013

 

300

Hermiston

 

OR

 

 

 

85,560

 

396,675

 

73,725

 

None

 

85,560

 

470,400

 

555,960

 

424,589

 

 

 

12/18/1984

 

300

Lake Oswego

 

OR

 

 

 

175,899

 

815,508

 

181,383

 

41,962

 

175,899

 

1,038,853

 

1,214,752

 

894,009

 

 

 

5/16/1984

 

300

Salem

 

OR

 

 

 

-     

 

865,668

 

None

 

None

 

-     

 

865,668

 

865,668

 

171,691

 

 

 

1/22/2013

 

300

Feasterville Trev

 

PA

 

 

 

236,303

 

441,673

 

None

 

None

 

236,303

 

441,673

 

677,976

 

183,277

 

 

 

8/30/2007

 

300

Gap

 

PA

 

 

 

-     

 

1,012,812

 

1,000

 

None

 

-     

 

1,013,812

 

1,013,812

 

421,295

 

 

 

8/30/2007

 

300

Gettysburg

 

PA

 

 

 

289,040

 

809,676

 

None

 

None

 

289,040

 

809,676

 

1,098,716

 

519,540

 

 

 

12/19/2001

 

300

Harrisburg

 

PA

 

 

 

577,667

 

1,075,635

 

None

 

22,033

 

577,667

 

1,097,668

 

1,675,335

 

457,239

 

 

 

8/30/2007

 

300

Horsham

 

PA

 

 

 

554,361

 

1,032,352

 

None

 

None

 

554,361

 

1,032,352

 

1,586,713

 

428,409

 

 

 

8/30/2007

 

300

Indiana

 

PA

 

 

 

828,653

 

1,540,630

 

61,487

 

17,739

 

828,653

 

1,619,856

 

2,448,509

 

725,351

 

 

 

11/1/2006

 

300

Lancaster

 

PA

 

 

 

170,304

 

413,960

 

None

 

None

 

170,304

 

413,960

 

584,264

 

265,623

 

 

 

12/19/2001

 

300

Lebanon

 

PA

 

 

 

-     

 

1,292,172

 

None

 

None

 

-     

 

1,292,172

 

1,292,172

 

623,434

 

 

 

8/30/2007

 

258

Philadelphia

 

PA

 

 

 

503,556

 

937,999

 

None

 

None

 

503,556

 

937,999

 

1,441,555

 

389,253

 

 

 

8/30/2007

 

300

North Providence

 

RI

 

 

 

-     

 

790,921

 

None

 

None

 

-     

 

790,921

 

790,921

 

473,141

 

 

 

8/30/2007

 

208

Columbia

 

SC

 

 

 

1,100,000

 

1,829,980

 

None

 

None

 

1,100,000

 

1,829,980

 

2,929,980

 

131,149

 

 

 

3/30/2016

 

300

Florence

 

SC

 

 

 

956,430

 

2,238,768

 

None

 

None

 

956,430

 

2,238,768

 

3,195,198

 

160,445

 

 

 

3/30/2016

 

300

Gaffney

 

SC

 

 

 

727,738

 

1,353,238

 

57,635

 

235

 

727,738

 

1,411,108

 

2,138,846

 

639,586

 

 

 

11/1/2006

 

300

Greenwood

 

SC

 

 

 

822,783

 

1,420,792

 

None

 

None

 

822,783

 

1,420,792

 

2,243,575

 

101,823

 

 

 

3/30/2016

 

300

Hilton Head

 

SC

 

 

 

1,218,232

 

1,522,790

 

None

 

None

 

1,218,232

 

1,522,790

 

2,741,022

 

302,020

 

 

 

1/22/2013

 

300

Lancaster

 

SC

 

 

 

778,616

 

1,448,099

 

(1,012,154

)

493

 

778,616

 

436,438

 

1,215,054

 

650,197

 

 

 

11/1/2006

 

300

N Myrtle Beach

 

SC

 

 

 

945,478

 

2,213,132

 

None

 

None

 

945,478

 

2,213,132

 

3,158,610

 

158,608

 

 

 

3/30/2016

 

300

Rock Hill

 

SC

 

 

 

826,216

 

1,536,499

 

480

 

46,661

 

826,216

 

1,583,640

 

2,409,856

 

703,279

 

 

 

11/1/2006

 

300

Rock Hill

 

SC

 

 

 

1,150,000

 

2,178,624

 

None

 

None

 

1,150,000

 

2,178,624

 

3,328,624

 

156,135

 

 

 

3/30/2016

 

300

Sumter

 

SC

 

 

 

1,232,145

 

2,127,682

 

None

 

None

 

1,232,145

 

2,127,682

 

3,359,827

 

152,484

 

 

 

3/30/2016

 

300

Sioux Falls

 

SD

 

 

 

1,046,609

 

1,807,297

 

None

 

None

 

1,046,609

 

1,807,297

 

2,853,906

 

129,523

 

 

 

3/30/2016

 

300

Bartlett

 

TN

 

 

 

420,000

 

674,437

 

76,972

 

20,326

 

420,000

 

771,735

 

1,191,735

 

543,731

 

5/12/1999

 

2/23/1999

 

300

Chattanooga

 

TN

 

 

 

827,594

 

1,538,633

 

(1,138,182

)

535

 

827,594

 

400,986

 

1,228,580

 

737,000

 

 

 

11/1/2006

 

300

Dyersburg

 

TN

 

 

 

695,135

 

1,292,644

 

222,368

 

None

 

695,135

 

1,515,012

 

2,210,147

 

654,303

 

 

 

11/1/2006

 

300

Greeneville

 

TN

 

 

 

936,669

 

1,741,253

 

None

 

131

 

936,669

 

1,741,384

 

2,678,053

 

774,988

 

 

 

11/1/2006

 

300

Johnson City

 

TN

 

 

 

881,225

 

1,638,285

 

167,447

 

16,066

 

881,225

 

1,821,798

 

2,703,023

 

784,505

 

 

 

11/1/2006

 

300

Kingsport

 

TN

 

 

 

786,332

 

1,462,055

 

(1,002,020

)

476

 

786,332

 

460,511

 

1,246,843

 

738,370

 

 

 

11/1/2006

 

300

Memphis

 

TN

 

 

 

871,951

 

1,621,017

 

349,106

 

10

 

871,951

 

1,970,133

 

2,842,084

 

787,032

 

 

 

11/1/2006

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Memphis

 

TN

 

 

 

1,217,412

 

1,521,765

 

None

 

None

 

1,217,412

 

1,521,765

 

2,739,177

 

301,817

 

 

 

1/22/2013

 

300

Memphis

 

TN

 

 

 

-     

 

1,336,687

 

None

 

None

 

-     

 

1,336,687

 

1,336,687

 

265,110

 

 

 

1/22/2013

 

300

Morristown

 

TN

 

 

 

182,935

 

340,274

 

None

 

10,826

 

182,935

 

351,100

 

534,035

 

166,605

 

 

 

12/22/2005

 

300

Murfreesboro

 

TN

 

 

 

1,428,122

 

2,466,098

 

None

 

None

 

1,428,122

 

2,466,098

 

3,894,220

 

176,737

 

 

 

3/30/2016

 

300

Newport

 

TN

 

 

 

640,841

 

1,191,858

 

71,563

 

None

 

640,841

 

1,263,421

 

1,904,262

 

563,757

 

 

 

11/1/2006

 

300

Amarillo

 

TX

 

 

 

763,283

 

1,995,460

 

None

 

None

 

763,283

 

1,995,460

 

2,758,743

 

726,616

 

9/12/2008

 

3/3/2008

 

300

Amarillo

 

TX

 

 

 

609,000

 

1,486,302

 

None

 

None

 

609,000

 

1,486,302

 

2,095,302

 

145,298

 

7/13/2015

 

10/3/2014

 

300

Austin

 

TX

 

 

 

699,395

 

1,167,223

 

None

 

144

 

699,395

 

1,167,367

 

1,866,762

 

545,784

 

2/15/2006

 

9/15/2005

 

300

Austin

 

TX

 

 

 

976,803

 

1,361,281

 

36,880

 

30,504

 

976,803

 

1,428,665

 

2,405,468

 

659,707

 

10/23/2006

 

6/19/2006

 

300

Bedford

 

TX

 

 

 

919,303

 

98,231

 

23,966

 

258

 

919,303

 

122,455

 

1,041,758

 

112,955

 

 

 

12/27/1994

 

180

Cedar Park

 

TX

 

 

 

634,489

 

1,472,504

 

None

 

266

 

634,489

 

1,472,770

 

2,107,259

 

673,141

 

6/19/2006

 

1/13/2006

 

300

El Campo

 

TX

 

 

 

98,060

 

454,631

 

None

 

None

 

98,060

 

454,631

 

552,691

 

454,631

 

 

 

11/25/1985

 

300

El Paso

 

TX

 

 

 

-     

 

1,399,487

 

None

 

None

 

-     

 

1,399,487

 

1,399,487

 

277,565

 

 

 

1/22/2013

 

300

El Paso

 

TX

 

 

 

-     

 

1,591,758

 

None

 

None

 

-     

 

1,591,758

 

1,591,758

 

315,699

 

 

 

1/22/2013

 

300

Georgetown

 

TX

 

 

 

870,981

 

1,177,824

 

205,817

 

56,236

 

870,981

 

1,439,877

 

2,310,858

 

681,274

 

6/2/2006

 

1/13/2006

 

300

Greenville

 

TX

 

 

 

909,311

 

1,690,848

 

34,606

 

27,914

 

909,311

 

1,753,368

 

2,662,679

 

808,229

 

 

 

11/1/2006

 

300

Harker Heights

 

TX

 

 

 

943,812

 

1,897,644

 

None

 

None

 

943,812

 

1,897,644

 

2,841,456

 

697,372

 

8/28/2008

 

3/20/2008

 

300

Hillsboro

 

TX

 

 

 

75,992

 

352,316

 

158,254

 

9,364

 

75,992

 

519,934

 

595,926

 

438,132

 

 

 

8/1/1984

 

300

Houston

 

TX

 

 

 

194,994

 

386,056

 

None

 

9,044

 

194,994

 

395,100

 

590,094

 

386,634

 

 

 

6/25/1991

 

300

Houston

 

TX

 

 

 

1,096,376

 

2,300,690

 

235,500

 

102,443

 

1,096,376

 

2,638,633

 

3,735,009

 

2,178,521

 

 

 

9/5/1997

 

300

Houston

 

TX

 

 

 

989,152

 

1,838,713

 

None

 

25,823

 

989,152

 

1,864,536

 

2,853,688

 

842,724

 

 

 

11/1/2006

 

300

Irving

 

TX

 

 

 

1,500,411

 

2,156

 

None

 

None

 

1,500,411

 

2,156

 

1,502,567

 

1,283

 

 

 

2/5/2003

 

300

Killeen

 

TX

 

 

 

1,327,348

 

2,467,204

 

17,494

 

28,845

 

1,327,348

 

2,513,543

 

3,840,891

 

1,120,227

 

 

 

11/1/2006

 

300

Live Oak

 

TX

 

 

 

727,956

 

1,214,835

 

181,920

 

42,902

 

727,956

 

1,439,657

 

2,167,613

 

739,652

 

9/27/2005

 

6/1/2005

 

300

Longview

 

TX

 

 

 

1,231,857

 

2,289,864

 

None

 

113

 

1,231,857

 

2,289,977

 

3,521,834

 

1,019,013

 

 

 

11/1/2006

 

300

Lufkin

 

TX

 

 

 

105,904

 

490,998

 

None

 

None

 

105,904

 

490,998

 

596,902

 

490,998

 

 

 

10/8/1985

 

300

Mesquite

 

TX

 

 

 

729,596

 

120,820

 

None

 

91

 

729,596

 

120,911

 

850,507

 

120,895

 

 

 

12/23/1994

 

180

Mexia

 

TX

 

 

 

93,620

 

434,046

 

50,273

 

11,861

 

93,620

 

496,180

 

589,800

 

474,585

 

 

 

12/18/1985

 

300

New Braunfels

 

TX

 

 

 

860,262

 

1,169,016

 

250,000

 

56,399

 

860,262

 

1,475,415

 

2,335,677

 

819,827

 

2/14/2006

 

10/12/2005

 

300

Palestine

 

TX

 

 

 

825,066

 

1,534,394

 

59,064

 

26,449

 

825,066

 

1,619,907

 

2,444,973

 

712,893

 

 

 

11/1/2006

 

300

Plano

 

TX

 

 

 

2,420,222

 

769

 

None

 

None

 

2,420,222

 

769

 

2,420,991

 

477

 

3/12/2003

 

6/27/2002

 

300

San Antonio

 

TX

 

 

 

835,431

 

1,185,257

 

None

 

49,500

 

835,431

 

1,234,757

 

2,070,188

 

611,394

 

12/2/2005

 

6/24/2005

 

300

San Antonio

 

TX

 

 

 

690,443

 

1,109,136

 

None

 

40,500

 

690,443

 

1,149,636

 

1,840,079

 

569,441

 

10/24/2005

 

6/27/2005

 

300

San Antonio

 

TX

 

 

 

835,586

 

1,227,220

 

None

 

45,000

 

835,586

 

1,272,220

 

2,107,806

 

591,004

 

9/14/2006

 

5/9/2006

 

300

Sugar Land

 

TX

 

 

 

1,376,186

 

1,720,233

 

None

 

None

 

1,376,186

 

1,720,233

 

3,096,419

 

341,180

 

 

 

1/22/2013

 

300

Temple

 

TX

 

 

 

797,574

 

1,193,813

 

1,350

 

144

 

797,574

 

1,195,307

 

1,992,881

 

542,451

 

9/14/2006

 

4/7/2006

 

300

Waxahachie

 

TX

 

 

 

326,935

 

726,137

 

65,992

 

20,790

 

326,935

 

812,919

 

1,139,854

 

767,640

 

 

 

12/29/1987

 

300

Waxahachie

 

TX

 

 

 

1,035,794

 

1,925,746

 

None

 

165

 

1,035,794

 

1,925,911

 

2,961,705

 

857,121

 

 

 

11/1/2006

 

300

College Station

 

TX

 

 

 

530,000

 

1,583,306

 

None

 

None

 

530,000

 

1,583,306

 

2,113,306

 

34,305

 

 

 

6/28/2017

 

300

Centerville

 

UT

 

 

 

1,056,314

 

1,320,393

 

None

 

None

 

1,056,314

 

1,320,393

 

2,376,707

 

261,878

 

 

 

1/22/2013

 

300

Charlottesville

 

VA

 

 

 

-     

 

1,283,010

 

None

 

None

 

-     

 

1,283,010

 

1,283,010

 

254,464

 

 

 

1/22/2013

 

300

Chester

 

VA

 

 

 

541,628

 

1,008,771

 

None

 

None

 

541,628

 

1,008,771

 

1,550,399

 

418,623

 

 

 

8/30/2007

 

300

Christiansburg

 

VA

 

 

 

1,335,724

 

2,306,544

 

None

 

None

 

1,335,724

 

2,306,544

 

3,642,268

 

165,302

 

 

 

3/30/2016

 

300

Danville

 

VA

 

 

 

751,055

 

1,396,772

 

66,062

 

18,130

 

751,055

 

1,480,964

 

2,232,019

 

678,363

 

 

 

11/1/2006

 

300

Martinsville

 

VA

 

 

 

833,114

 

1,549,167

 

71,660

 

13,084

 

833,114

 

1,633,911

 

2,467,025

 

715,478

 

 

 

11/1/2006

 

300

Midlothian

 

VA

 

 

 

421,479

 

785,639

 

248,110

 

27,205

 

421,479

 

1,060,954

 

1,482,433

 

471,566

 

 

 

8/30/2007

 

300

Roanoke

 

VA

 

 

 

-     

 

1,660,095

 

None

 

None

 

-     

 

1,660,095

 

1,660,095

 

329,252

 

 

 

1/22/2013

 

300

Staunton

 

VA

 

 

 

867,684

 

1,613,368

 

39,262

 

None

 

867,684

 

1,652,630

 

2,520,314

 

745,043

 

 

 

11/1/2006

 

300

Williamsburg

 

VA

 

 

 

651,167

 

1,212,201

 

16,985

 

105

 

651,167

 

1,229,291

 

1,880,458

 

507,082

 

 

 

8/30/2007

 

300

Williamsburg

 

VA

 

 

 

1,550,000

 

1,836,709

 

None

 

None

 

1,550,000

 

1,836,709

 

3,386,709

 

113,264

 

 

 

6/29/2016

 

300

Chesterfield

 

VA

 

 

 

740,000

 

2,258,709

 

None

 

None

 

740,000

 

2,258,709

 

2,998,709

 

48,939

 

 

 

6/28/2017

 

300

Bennington

 

VT

 

 

 

118,823

 

673,551

 

None

 

None

 

118,823

 

673,551

 

792,374

 

432,193

 

 

 

12/19/2001

 

300

Rutland

 

VT

 

 

 

812,197

 

1,511,184

 

None

 

None

 

812,197

 

1,511,184

 

2,323,381

 

627,124

 

 

 

8/30/2007

 

300

Williston

 

VT

 

 

 

-     

 

1,197,659

 

None

 

None

 

-     

 

1,197,659

 

1,197,659

 

618,548

 

 

 

8/30/2007

 

241

Madison

 

WI

 

 

 

770,000

 

2,243,040

 

None

 

None

 

770,000

 

2,243,040

 

3,013,040

 

160,751

 

 

 

3/30/2016

 

300

Martinsburg

 

WV

 

 

 

1,169,275

 

2,019,119

 

None

 

None

 

1,169,275

 

2,019,119

 

3,188,394

 

144,704

 

 

 

3/30/2016

 

300

Parkersburg

 

WV

 

 

 

722,732

 

1,343,920

 

63,217

 

33,305

 

722,732

 

1,440,442

 

2,163,174

 

677,897

 

 

 

11/1/2006

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restaurants - quick service

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alabaster

 

AL

 

 

 

335,197

 

622,697

 

17,519

 

None

 

335,197

 

640,216

 

975,413

 

282,164

 

 

 

9/14/2006

 

300

Alabaster

 

AL

 

 

 

550,000

 

1,588,482

 

None

 

None

 

550,000

 

1,588,482

 

2,138,482

 

129,726

 

 

 

12/16/2015

 

300

Aliceville

 

AL

 

 

 

950,000

 

1,215,379

 

None

 

None

 

950,000

 

1,215,379

 

2,165,379

 

99,256

 

 

 

12/16/2015

 

300

Andalusia

 

AL

 

 

 

252,403

 

468,949

 

None

 

None

 

252,403

 

468,949

 

721,352

 

211,809

 

 

 

9/14/2006

 

300

Athens

 

AL

 

 

 

560,000

 

1,324,359

 

None

 

None

 

560,000

 

1,324,359

 

1,884,359

 

103,741

 

 

 

1/5/2016

 

300

Atmore

 

AL

 

 

 

272,044

 

505,636

 

None

 

None

 

272,044

 

505,636

 

777,680

 

331,186

 

 

 

8/31/2001

 

300

Attalla

 

AL

 

 

 

148,993

 

276,890

 

None

 

None

 

148,993

 

276,890

 

425,883

 

125,062

 

 

 

9/14/2006

 

300

Bessemer

 

AL

 

 

 

172,438

 

320,429

 

None

 

None

 

172,438

 

320,429

 

492,867

 

144,727

 

 

 

9/14/2006

 

300

Birmingham

 

AL

 

 

 

251,434

 

467,185

 

None

 

None

 

251,434

 

467,185

 

718,619

 

306,003

 

 

 

8/31/2001

 

300

Birmingham

 

AL

 

 

 

650,000

 

1,426,647

 

None

 

None

 

650,000

 

1,426,647

 

2,076,647

 

111,754

 

 

 

1/5/2016

 

300

Brent

 

AL

 

 

 

134,432

 

249,846

 

None

 

None

 

134,432

 

249,846

 

384,278

 

112,847

 

 

 

9/14/2006

 

300

Chelsea

 

AL

 

 

 

490,000

 

1,347,268

 

None

 

None

 

490,000

 

1,347,268

 

1,837,268

 

136,972

 

 

 

6/26/2015

 

300

Clanton

 

AL

 

 

 

230,036

 

427,391

 

None

 

None

 

230,036

 

427,391

 

657,427

 

279,939

 

 

 

8/31/2001

 

300

Clanton

 

AL

 

 

 

570,000

 

1,308,215

 

None

 

None

 

570,000

 

1,308,215

 

1,878,215

 

106,838

 

 

 

12/16/2015

 

300

Clanton

 

AL

 

 

 

770,000

 

1,594,248

 

None

 

None

 

770,000

 

1,594,248

 

2,364,248

 

124,883

 

 

 

1/5/2016

 

300

Demopolis

 

AL

 

 

 

251,349

 

466,972

 

None

 

None

 

251,349

 

466,972

 

718,321

 

305,865

 

 

 

8/31/2001

 

300

Evergreen

 

AL

 

 

 

148,982

 

276,881

 

None

 

None

 

148,982

 

276,881

 

425,863

 

125,058

 

 

 

9/14/2006

 

300

Fayette

 

AL

 

 

 

1,160,000

 

1,208,911

 

None

 

None

 

1,160,000

 

1,208,911

 

2,368,911

 

86,639

 

 

 

3/18/2016

 

300

Fort Payne

 

AL

 

 

 

303,056

 

563,001

 

None

 

None

 

303,056

 

563,001

 

866,057

 

368,763

 

 

 

8/31/2001

 

300

Fort Payne

 

AL

 

 

 

814,113

 

-     

 

None

 

36,593

 

814,113

 

36,593

 

850,706

 

1,575

 

 

 

11/1/2006

 

119

Gardendale

 

AL

 

 

 

398,669

 

740,568

 

None

 

None

 

398,669

 

740,568

 

1,139,237

 

485,070

 

 

 

8/31/2001

 

300

Greenville

 

AL

 

 

 

226,108

 

420,117

 

None

 

None

 

226,108

 

420,117

 

646,225

 

189,753

 

 

 

9/14/2006

 

300

Haleyville

 

AL

 

 

 

262,500

 

488,357

 

None

 

None

 

262,500

 

488,357

 

750,857

 

196,156

 

 

 

12/21/2007

 

300

Hamilton

 

AL

 

 

 

214,198

 

397,991

 

None

 

None

 

214,198

 

397,991

 

612,189

 

179,759

 

 

 

9/14/2006

 

300

Hanceville

 

AL

 

 

 

290,000

 

1,426,914

 

None

 

None

 

290,000

 

1,426,914

 

1,716,914

 

116,531

 

 

 

12/16/2015

 

300

Hartselle

 

AL

 

 

 

820,000

 

1,232,323

 

None

 

None

 

820,000

 

1,232,323

 

2,052,323

 

100,640

 

 

 

12/16/2015

 

300

Henagar

 

AL

 

 

 

530,000

 

1,688,777

 

None

 

None

 

530,000

 

1,688,777

 

2,218,777

 

121,029

 

 

 

3/18/2016

 

300

Hokes Bluff

 

AL

 

 

 

720,000

 

1,748,671

 

None

 

None

 

720,000

 

1,748,671

 

2,468,671

 

142,808

 

 

 

12/16/2015

 

300

Jacksonville

 

AL

 

 

 

680,000

 

1,270,736

 

None

 

None

 

680,000

 

1,270,736

 

1,950,736

 

129,191

 

 

 

6/26/2015

 

300

Jasper

 

AL

 

 

 

850,000

 

1,219,115

 

None

 

None

 

850,000

 

1,219,115

 

2,069,115

 

99,561

 

 

 

12/16/2015

 

300

Leeds

 

AL

 

 

 

171,145

 

318,028

 

None

 

None

 

171,145

 

318,028

 

489,173

 

143,643

 

 

 

9/14/2006

 

300

Lincoln

 

AL

 

 

 

1,200,000

 

1,392,694

 

None

 

None

 

1,200,000

 

1,392,694

 

2,592,694

 

109,094

 

 

 

1/5/2016

 

300

Lineville

 

AL

 

 

 

900,000

 

1,251,388

 

None

 

None

 

900,000

 

1,251,388

 

2,151,388

 

102,197

 

 

 

12/16/2015

 

300

McCalla

 

AL

 

 

 

610,000

 

1,303,425

 

None

 

None

 

610,000

 

1,303,425

 

1,913,425

 

132,515

 

 

 

6/26/2015

 

300

Meridianville

 

AL

 

 

 

250,000

 

1,430,680

 

None

 

None

 

250,000

 

1,430,680

 

1,680,680

 

112,070

 

 

 

1/5/2016

 

300

Millbrook

 

AL

 

 

 

650,000

 

1,691,984

 

None

 

None

 

650,000

 

1,691,984

 

2,341,984

 

138,179

 

 

 

12/16/2015

 

300

Mobile

 

AL

 

 

 

286,333

 

531,950

 

None

 

None

 

286,333

 

531,950

 

818,283

 

240,264

 

 

 

9/14/2006

 

300

Montgomery

 

AL

 

 

 

143,693

 

267,060

 

None

 

None

 

143,693

 

267,060

 

410,753

 

120,622

 

 

 

9/14/2006

 

300

Montgomery

 

AL

 

 

 

145,206

 

269,870

 

None

 

None

 

145,206

 

269,870

 

415,076

 

121,891

 

 

 

9/14/2006

 

300

Moody

 

AL

 

 

 

530,000

 

1,819,472

 

None

 

None

 

530,000

 

1,819,472

 

2,349,472

 

130,395

 

 

 

3/18/2016

 

300

Northport

 

AL

 

 

 

832,541

 

1,040,676

 

None

 

None

 

832,541

 

1,040,676

 

1,873,217

 

206,401

 

 

 

1/22/2013

 

300

Oneonta

 

AL

 

 

 

1,190,000

 

1,151,263

 

None

 

None

 

1,190,000

 

1,151,263

 

2,341,263

 

94,020

 

 

 

12/16/2015

 

300

Opp

 

AL

 

 

 

160,778

 

298,782

 

None

 

None

 

160,778

 

298,782

 

459,560

 

133,954

 

 

 

10/12/2006

 

300

Pell City

 

AL

 

 

 

490,000

 

1,288,925

 

None

 

None

 

490,000

 

1,288,925

 

1,778,925

 

131,041

 

 

 

6/26/2015

 

300

Russellville

 

AL

 

 

 

630,000

 

1,184,964

 

None

 

None

 

630,000

 

1,184,964

 

1,814,964

 

92,822

 

 

 

1/5/2016

 

300

Selma

 

AL

 

 

 

910,000

 

969,042

 

None

 

None

 

910,000

 

969,042

 

1,879,042

 

75,908

 

 

 

1/5/2016

 

300

Southside

 

AL

 

 

 

681,987

 

-     

 

None

 

None

 

681,987

 

-     

 

681,987

 

-     

 

 

 

12/16/2015

 

N/A

Thomasville

 

AL

 

 

 

190,000

 

490,466

 

None

 

None

 

190,000

 

490,466

 

680,466

 

40,055

 

 

 

12/22/2015

 

300

Trussville

 

AL

 

 

 

256,485

 

476,510

 

None

 

None

 

256,485

 

476,510

 

732,995

 

213,635

 

 

 

10/12/2006

 

300

Vernon

 

AL

 

 

 

680,000

 

1,125,994

 

None

 

None

 

680,000

 

1,125,994

 

1,805,994

 

91,956

 

 

 

12/16/2015

 

300

Warrior

 

AL

 

 

 

159,109

 

295,676

 

None

 

None

 

159,109

 

295,676

 

454,785

 

133,547

 

 

 

9/14/2006

 

300

Warrior

 

AL

 

 

 

1,070,000

 

932,540

 

None

 

None

 

1,070,000

 

932,540

 

2,002,540

 

73,049

 

 

 

1/5/2016

 

300

Winfield

 

AL

 

 

 

770,000

 

1,237,048

 

None

 

None

 

770,000

 

1,237,048

 

2,007,048

 

88,655

 

 

 

3/18/2016

 

300

Arkadelphia

 

AR

 

 

 

248,868

 

462,744

 

None

 

None

 

248,868

 

462,744

 

711,612

 

207,464

 

 

 

10/12/2006

 

300

Arkadelphia

 

AR

 

 

 

190,760

 

924,125

 

None

 

None

 

190,760

 

924,125

 

1,114,885

 

4,621

 

 

 

11/15/2017

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bentonville

 

AR

 

 

 

377,086

 

700,582

 

None

 

None

 

377,086

 

700,582

 

1,077,668

 

458,878

 

 

 

8/31/2001

 

300

Camden

 

AR

 

 

 

290,938

 

871,737

 

None

 

None

 

290,938

 

871,737

 

1,162,675

 

4,359

 

 

 

11/15/2017

 

300

Clarksville

 

AR

 

 

 

274,497

 

615,506

 

None

 

None

 

274,497

 

615,506

 

890,003

 

3,078

 

 

 

11/15/2017

 

300

Conway

 

AR

 

 

 

537,470

 

949,473

 

None

 

None

 

537,470

 

949,473

 

1,486,943

 

4,747

 

 

 

11/15/2017

 

300

Greenwood

 

AR

 

 

 

676,398

 

812,768

 

None

 

None

 

676,398

 

812,768

 

1,489,166

 

4,064

 

 

 

11/15/2017

 

300

Hope

 

AR

 

 

 

288,643

 

536,715

 

None

 

None

 

288,643

 

536,715

 

825,358

 

351,539

 

 

 

8/31/2001

 

300

Hope

 

AR

 

 

 

416,893

 

753,699

 

None

 

None

 

416,893

 

753,699

 

1,170,592

 

3,768

 

 

 

11/15/2017

 

300

Hot Springs

 

AR

 

 

 

547,820

 

967,757

 

None

 

None

 

547,820

 

967,757

 

1,515,577

 

4,839

 

 

 

11/15/2017

 

300

Jacksonville

 

AR

 

 

 

512,872

 

906,018

 

None

 

None

 

512,872

 

906,018

 

1,418,890

 

4,530

 

 

 

11/15/2017

 

300

Jonesboro

 

AR

 

 

 

173,984

 

323,371

 

99,392

 

11,807

 

173,984

 

434,570

 

608,554

 

153,069

 

 

 

11/16/2007

 

300

Malvern

 

AR

 

 

 

219,703

 

408,588

 

None

 

None

 

219,703

 

408,588

 

628,291

 

184,546

 

 

 

9/14/2006

 

300

Malvern

 

AR

 

 

 

476,533

 

786,860

 

None

 

None

 

476,533

 

786,860

 

1,263,393

 

3,934

 

 

 

11/15/2017

 

300

North Little Rock

 

AR

 

 

 

317,000

 

589,377

 

None

 

None

 

317,000

 

589,377

 

906,377

 

386,033

 

 

 

8/31/2001

 

300

Ozark

 

AR

 

 

 

253,674

 

941,638

 

None

 

None

 

253,674

 

941,638

 

1,195,312

 

4,708

 

 

 

11/15/2017

 

300

Pine Bluff

 

AR

 

 

 

408,243

 

721,186

 

None

 

None

 

408,243

 

721,186

 

1,129,429

 

3,606

 

 

 

11/15/2017

 

300

Pine Bluff

 

AR

 

 

 

396,670

 

700,741

 

None

 

None

 

396,670

 

700,741

 

1,097,411

 

1,168

 

 

 

12/20/2017

 

300

Pocahontas

 

AR

 

 

 

241,128

 

447,988

 

None

 

None

 

241,128

 

447,988

 

689,116

 

200,848

 

 

 

10/12/2006

 

300

Sherwood

 

AR

 

 

 

395,899

 

699,380

 

None

 

None

 

395,899

 

699,380

 

1,095,279

 

3,497

 

 

 

11/15/2017

 

300

Siloam Springs

 

AR

 

 

 

190,000

 

352,808

 

None

 

None

 

190,000

 

352,808

 

542,808

 

284,000

 

 

 

11/20/1997

 

300

Springdale

 

AR

 

 

 

540,216

 

954,323

 

None

 

None

 

540,216

 

954,323

 

1,494,539

 

4,772

 

 

 

11/15/2017

 

300

Van Buren

 

AR

 

 

 

578,726

 

1,022,354

 

None

 

None

 

578,726

 

1,022,354

 

1,601,080

 

5,112

 

 

 

11/15/2017

 

300

Heber Springs

 

AR

 

 

 

564,804

 

465,697

 

None

 

None

 

564,804

 

465,697

 

1,030,501

 

2,328

 

 

 

11/15/2017

 

300

Stuttgart

 

AR

 

 

 

337,334

 

761,109

 

None

 

None

 

337,334

 

761,109

 

1,098,443

 

3,806

 

 

 

11/15/2017

 

300

Phoenix

 

AZ

 

 

 

704,014

 

1,307,998

 

(145,542

)

None

 

558,472

 

1,307,998

 

1,866,470

 

542,817

 

 

 

8/28/2007

 

300

Tucson

 

AZ

 

 

 

107,393

 

500,154

 

None

 

None

 

107,393

 

500,154

 

607,547

 

498,882

 

 

 

1/17/1986

 

300

Tucson

 

AZ

 

 

 

463,231

 

860,982

 

None

 

None

 

463,231

 

860,982

 

1,324,213

 

357,305

 

 

 

8/28/2007

 

300

Yuma

 

AZ

 

 

 

236,121

 

541,651

 

None

 

None

 

236,121

 

541,651

 

777,772

 

425,192

 

 

 

5/28/1998

 

300

Fresno

 

CA

 

 

 

561,502

 

1,043,688

 

None

 

None

 

561,502

 

1,043,688

 

1,605,190

 

433,127

 

 

 

8/28/2007

 

300

Livermore

 

CA

 

 

 

662,161

 

823,242

 

None

 

None

 

662,161

 

823,242

 

1,485,403

 

635,272

 

 

 

9/23/1998

 

300

Riverside

 

CA

 

 

 

90,000

 

170,394

 

135,301

 

None

 

90,000

 

305,695

 

395,695

 

256,142

 

 

 

12/9/1976

 

300

Sacramento

 

CA

 

 

 

386,793

 

417,290

 

None

 

None

 

386,793

 

417,290

 

804,083

 

324,790

 

 

 

7/31/1998

 

300

San Ramon

 

CA

 

 

 

406,000

 

1,126,930

 

None

 

None

 

406,000

 

1,126,930

 

1,532,930

 

1,126,930

 

 

 

12/8/1983

 

180

Aurora

 

CO

 

 

 

288,558

 

537,322

 

None

 

None

 

288,558

 

537,322

 

825,880

 

222,984

 

 

 

8/28/2007

 

300

Aurora

 

CO

 

 

 

210,000

 

540,346

 

None

 

None

 

210,000

 

540,346

 

750,346

 

137,788

 

 

 

8/29/2011

 

300

Broomfield

 

CO

 

 

 

444,277

 

-     

 

None

 

None

 

444,277

 

-     

 

444,277

 

-     

 

 

 

8/29/2011

 

N/A

Brush

 

CO

 

 

 

90,000

 

220,976

 

None

 

None

 

90,000

 

220,976

 

310,976

 

56,349

 

 

 

8/29/2011

 

300

Castle Rock

 

CO

 

 

 

670,000

 

744,760

 

None

 

77

 

670,000

 

744,837

 

1,414,837

 

73,264

 

 

 

7/21/2015

 

300

Colorado Springs

 

CO

 

 

 

152,000

 

704,736

 

None

 

None

 

152,000

 

704,736

 

856,736

 

704,736

 

 

 

9/30/1986

 

300

Fort Morgan

 

CO

 

 

 

80,000

 

350,452

 

None

 

None

 

80,000

 

350,452

 

430,452

 

89,365

 

 

 

8/29/2011

 

300

Greenwood Village

 

CO

 

 

 

1,681,038

 

-     

 

None

 

None

 

1,681,038

 

-     

 

1,681,038

 

-     

 

 

 

6/19/2014

 

N/A

Lafayette

 

CO

 

 

 

450,000

 

59,281

 

None

 

None

 

450,000

 

59,281

 

509,281

 

15,117

 

 

 

8/29/2011

 

300

Lakewood

 

CO

 

 

 

510,000

 

124,971

 

None

 

None

 

510,000

 

124,971

 

634,971

 

31,868

 

 

 

8/29/2011

 

300

Littleton

 

CO

 

 

 

260,000

 

508,347

 

None

 

None

 

260,000

 

508,347

 

768,347

 

129,628

 

 

 

8/29/2011

 

300

Littleton

 

CO

 

 

 

470,000

 

207,744

 

None

 

None

 

470,000

 

207,744

 

677,744

 

52,975

 

 

 

8/29/2011

 

300

Westminster

 

CO

 

 

 

261,466

 

487,102

 

None

 

None

 

261,466

 

487,102

 

748,568

 

202,145

 

 

 

8/28/2007

 

300

Meriden

 

CT

 

 

 

369,482

 

687,116

 

None

 

None

 

369,482

 

687,116

 

1,056,598

 

285,151

 

 

 

8/28/2007

 

300

Bartow

 

FL

 

 

 

480,000

 

500,603

 

None

 

None

 

480,000

 

500,603

 

980,603

 

49,226

 

 

 

7/21/2015

 

300

Chipley

 

FL

 

 

 

270,439

 

502,655

 

None

 

None

 

270,439

 

502,655

 

773,094

 

329,234

 

 

 

8/31/2001

 

300

Clearwater

 

FL

 

 

 

484,090

 

899,658

 

None

 

None

 

484,090

 

899,658

 

1,383,748

 

373,356

 

 

 

8/28/2007

 

300

Clearwater

 

FL

 

 

 

370,000

 

512,393

 

None

 

None

 

370,000

 

512,393

 

882,393

 

130,660

 

 

 

8/29/2011

 

300

Dade City

 

FL

 

 

 

140,000

 

387,991

 

None

 

None

 

140,000

 

387,991

 

527,991

 

98,938

 

 

 

8/29/2011

 

300

Defuniak Springs

 

FL

 

 

 

269,554

 

501,010

 

None

 

None

 

269,554

 

501,010

 

770,564

 

328,156

 

 

 

8/31/2001

 

300

Dunedin

 

FL

 

 

 

440,000

 

100,727

 

None

 

None

 

440,000

 

100,727

 

540,727

 

25,685

 

 

 

8/29/2011

 

300

Jacksonville

 

FL

 

 

 

150,210

 

693,445

 

None

 

None

 

150,210

 

693,445

 

843,655

 

693,445

 

 

 

9/13/1985

 

300

Lake Placid

 

FL

 

 

 

220,000

 

206,076

 

None

 

None

 

220,000

 

206,076

 

426,076

 

52,549

 

 

 

8/29/2011

 

300

Lakeland

 

FL

 

 

 

310,000

 

519,387

 

None

 

None

 

310,000

 

519,387

 

829,387

 

132,444

 

 

 

8/29/2011

 

300

Lakeland

 

FL

 

 

 

530,000

 

556,704

 

None

 

None

 

530,000

 

556,704

 

1,086,704

 

141,960

 

 

 

8/29/2011

 

300

Lakeland

 

FL

 

 

 

170,000

 

288,777

 

None

 

None

 

170,000

 

288,777

 

458,777

 

73,638

 

 

 

8/29/2011

 

300

New Port Richey

 

FL

 

 

 

260,000

 

579,385

 

None

 

None

 

260,000

 

579,385

 

839,385

 

147,743

 

 

 

8/29/2011

 

300

Orlando

 

FL

 

 

 

600,000

 

949,489

 

None

 

None

 

600,000

 

949,489

 

1,549,489

 

707,591

 

5/27/1999

 

12/18/1998

 

300

Oviedo

 

FL

 

 

 

204,200

 

911,338

 

None

 

None

 

204,200

 

911,338

 

1,115,538

 

648,723

 

3/27/2000

 

8/24/1999

 

300

Oviedo

 

FL

 

 

 

456,108

 

847,515

 

None

 

None

 

456,108

 

847,515

 

1,303,623

 

411,045

 

 

 

11/21/2005

 

300

Oviedo

 

FL

 

 

 

465,993

 

866,048

 

None

 

None

 

465,993

 

866,048

 

1,332,041

 

359,408

 

 

 

8/28/2007

 

300

Palm Bay

 

FL

 

 

 

330,000

 

556,668

 

None

 

None

 

330,000

 

556,668

 

886,668

 

418,550

 

2/17/1999

 

12/29/1998

 

300

Panama City

 

FL

 

 

 

202,047

 

375,424

 

None

 

None

 

202,047

 

375,424

 

577,471

 

168,315

 

 

 

10/12/2006

 

300

Pensacola

 

FL

 

 

 

767,303

 

1,424,991

 

None

 

None

 

767,303

 

1,424,991

 

2,192,294

 

296,873

 

 

 

10/15/2012

 

300

Port Richey

 

FL

 

 

 

848,210

 

1,575,247

 

None

 

None

 

848,210

 

1,575,247

 

2,423,457

 

328,176

 

 

 

10/15/2012

 

300

Saint Petersburg

 

FL

 

 

 

379,455

 

705,487

 

None

 

None

 

379,455

 

705,487

 

1,084,942

 

292,775

 

 

 

8/28/2007

 

300

Saint Petersburg

 

FL

 

 

 

370,000

 

675,403

 

None

 

None

 

370,000

 

675,403

 

1,045,403

 

172,228

 

 

 

8/29/2011

 

300

Seffner

 

FL

 

 

 

200,000

 

209,679

 

None

 

None

 

200,000

 

209,679

 

409,679

 

53,468

 

 

 

8/29/2011

 

300

Tallahassee

 

FL

 

 

 

385,000

 

715,857

 

None

 

None

 

385,000

 

715,857

 

1,100,857

 

287,535

 

 

 

12/25/2007

 

300

Tallahassee

 

FL

 

 

 

175,000

 

325,857

 

None

 

None

 

175,000

 

325,857

 

500,857

 

130,885

 

 

 

12/25/2007

 

300

Tampa

 

FL

 

 

 

545,211

 

1,013,321

 

None

 

None

 

545,211

 

1,013,321

 

1,558,532

 

420,526

 

 

 

8/28/2007

 

300

Tampa

 

FL

 

 

 

470,000

 

208,666

 

None

 

None

 

470,000

 

208,666

 

678,666

 

53,210

 

 

 

8/29/2011

 

300

Tampa

 

FL

 

 

 

430,000

 

589,949

 

None

 

None

 

430,000

 

589,949

 

1,019,949

 

150,437

 

 

 

8/29/2011

 

300

Temple Terrace

 

FL

 

 

 

962,500

 

1,788,133

 

None

 

None

 

962,500

 

1,788,133

 

2,750,633

 

742,074

 

 

 

8/28/2007

 

300

Venice

 

FL

 

 

 

340,000

 

28,239

 

None

 

None

 

340,000

 

28,239

 

368,239

 

7,201

 

 

 

8/29/2011

 

300

Wauchula

 

FL

 

 

 

260,000

 

324,525

 

None

 

None

 

260,000

 

324,525

 

584,525

 

82,754

 

 

 

8/29/2011

 

300

Zephyrhills

 

FL

 

 

 

220,000

 

662,046

 

None

 

None

 

220,000

 

662,046

 

882,046

 

168,822

 

 

 

8/29/2011

 

300

Augusta

 

GA

 

 

 

410,000

 

722,093

 

None

 

None

 

410,000

 

722,093

 

1,132,093

 

71,006

 

 

 

7/27/2015

 

300

Bowdon

 

GA

 

 

 

760,000

 

1,388,891

 

None

 

None

 

760,000

 

1,388,891

 

2,148,891

 

113,426

 

 

 

12/16/2015

 

300

Bremen

 

GA

 

 

 

600,000

 

1,682,353

 

None

 

None

 

600,000

 

1,682,353

 

2,282,353

 

114,961

 

 

 

4/26/2016

 

300

Buford

 

GA

 

 

 

400,000

 

361,957

 

None

 

None

 

400,000

 

361,957

 

761,957

 

92,299

 

 

 

8/29/2011

 

300

Buford

 

GA

 

 

 

1,085,401

 

1,356,752

 

None

 

None

 

1,085,401

 

1,356,752

 

2,442,153

 

269,089

 

 

 

1/22/2013

 

300

Cairo

 

GA

 

 

 

210,000

 

390,566

 

None

 

None

 

210,000

 

390,566

 

600,566

 

156,877

 

 

 

12/25/2007

 

300

Cumming

 

GA

 

 

 

520,000

 

248,510

 

None

 

None

 

520,000

 

248,510

 

768,510

 

63,370

 

 

 

8/29/2011

 

300

Duluth

 

GA

 

 

 

536,205

 

996,521

 

None

 

None

 

536,205

 

996,521

 

1,532,726

 

413,555

 

 

 

8/28/2007

 

300

Evans

 

GA

 

 

 

416,474

 

849,080

 

None

 

None

 

416,474

 

849,080

 

1,265,554

 

83,493

 

 

 

7/27/2015

 

300

Grovetown

 

GA

 

 

 

540,000

 

1,223,410

 

None

 

None

 

540,000

 

1,223,410

 

1,763,410

 

120,302

 

 

 

7/27/2015

 

300

Hartwell

 

GA

 

 

 

869,716

 

1,087,145

 

None

 

None

 

869,716

 

1,087,145

 

1,956,861

 

215,617

 

 

 

1/22/2013

 

300

Lawrenceville

 

GA

 

 

 

220,000

 

384,908

 

None

 

None

 

220,000

 

384,908

 

604,908

 

98,152

 

 

 

8/29/2011

 

300

Lilburn

 

GA

 

 

 

237,822

 

442,409

 

None

 

None

 

237,822

 

442,409

 

680,231

 

183,597

 

 

 

8/28/2007

 

300

Lilburn

 

GA

 

 

 

380,000

 

338,634

 

None

 

None

 

380,000

 

338,634

 

718,634

 

86,352

 

 

 

8/29/2011

 

300

Loganville

 

GA

 

 

 

340,000

 

422,840

 

None

 

None

 

340,000

 

422,840

 

762,840

 

107,824

 

 

 

8/29/2011

 

300

Marietta

 

GA

 

 

 

423,132

 

786,530

 

None

 

None

 

423,132

 

786,530

 

1,209,662

 

326,408

 

 

 

8/28/2007

 

300

Martinez

 

GA

 

 

 

517,290

 

1,054,618

 

None

 

None

 

517,290

 

1,054,618

 

1,571,908

 

103,704

 

 

 

7/27/2015

 

300

Norcross

 

GA

 

 

 

310,000

 

286,762

 

None

 

None

 

310,000

 

286,762

 

596,762

 

73,124

 

 

 

8/29/2011

 

300

Oakwood

 

GA

 

 

 

440,000

 

100,481

 

None

 

None

 

440,000

 

100,481

 

540,481

 

25,623

 

 

 

8/29/2011

 

300

Roswell

 

GA

 

 

 

310,767

 

578,088

 

None

 

None

 

310,767

 

578,088

 

888,855

 

239,903

 

 

 

8/28/2007

 

300

Tallapoosa

 

GA

 

 

 

1,110,000

 

1,300,294

 

None

 

None

 

1,110,000

 

1,300,294

 

2,410,294

 

106,191

 

 

 

12/16/2015

 

300

Thomasville

 

GA

 

 

 

300,211

 

558,074

 

None

 

None

 

300,211

 

558,074

 

858,285

 

268,805

 

 

 

12/22/2005

 

300

Washington

 

GA

 

 

 

292,628

 

543,862

 

None

 

None

 

292,628

 

543,862

 

836,490

 

356,224

 

 

 

8/31/2001

 

300

Waycross

 

GA

 

 

 

223,475

 

415,563

 

None

 

None

 

223,475

 

415,563

 

639,038

 

200,162

 

 

 

12/22/2005

 

300

Winder

 

GA

 

 

 

230,000

 

429,116

 

None

 

None

 

230,000

 

429,116

 

659,116

 

109,425

 

 

 

8/29/2011

 

300

Altoona

 

IA

 

 

 

426,834

 

792,693

 

None

 

None

 

426,834

 

792,693

 

1,219,527

 

180,998

 

 

 

4/17/2012

 

300

Cedar Falls

 

IA

 

 

 

208,411

 

387,971

 

None

 

None

 

208,411

 

387,971

 

596,382

 

186,872

 

 

 

12/22/2005

 

300

Cedar Falls

 

IA

 

 

 

187,250

 

349,057

 

None

 

278

 

187,250

 

349,335

 

536,585

 

140,375

 

 

 

12/21/2007

 

300

Fort Dodge

 

IA

 

 

 

388,815

 

722,573

 

None

 

None

 

388,815

 

722,573

 

1,111,388

 

326,362

 

 

 

9/14/2006

 

300

Oelwein

 

IA

 

 

 

84,244

 

157,375

 

None

 

1,778

 

84,244

 

159,153

 

243,397

 

76,112

 

 

 

12/22/2005

 

300

Ottumwa

 

IA

 

 

 

393,010

 

729,875

 

None

 

None

 

393,010

 

729,875

 

1,122,885

 

164,222

 

 

 

5/25/2012

 

300

Urbandale

 

IA

 

 

 

395,896

 

735,724

 

None

 

None

 

395,896

 

735,724

 

1,131,620

 

332,302

 

 

 

9/14/2006

 

300

Waterloo

 

IA

 

 

 

397,055

 

1,613,053

 

None

 

None

 

397,055

 

1,613,053

 

2,010,108

 

40,850

 

 

 

2/28/2006

 

300

Boise

 

ID

 

 

 

190,894

 

824,305

 

None

 

None

 

190,894

 

824,305

 

1,015,199

 

527,925

 

 

 

5/17/1988

 

300

Boise

 

ID

 

 

 

161,352

 

735,104

 

None

 

None

 

161,352

 

735,104

 

896,456

 

438,145

 

 

 

10/7/1988

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antioch

 

IL

 

 

 

340,000

 

1,073,929

 

None

 

None

 

340,000

 

1,073,929

 

1,413,929

 

12,529

 

 

 

9/29/2017

 

300

Aurora

 

IL

 

 

 

240,000

 

1,223,861

 

None

 

None

 

240,000

 

1,223,861

 

1,463,861

 

14,278

 

 

 

9/29/2017

 

300

Bethalto

 

IL

 

 

 

180,000

 

166,596

 

None

 

None

 

180,000

 

166,596

 

346,596

 

42,482

 

 

 

8/29/2011

 

300

Buffalo Grove

 

IL

 

 

 

306,250

 

569,693

 

None

 

None

 

306,250

 

569,693

 

875,943

 

236,420

 

 

 

8/28/2007

 

300

Cahokia

 

IL

 

 

 

70,000

 

613,995

 

None

 

None

 

70,000

 

613,995

 

683,995

 

156,569

 

 

 

8/29/2011

 

300

Carlyle

 

IL

 

 

 

80,000

 

428,860

 

None

 

None

 

80,000

 

428,860

 

508,860

 

109,359

 

 

 

8/29/2011

 

300

Centralia

 

IL

 

 

 

225,966

 

420,573

 

None

 

None

 

225,966

 

420,573

 

646,539

 

202,575

 

 

 

12/22/2005

 

300

Chicago

 

IL

 

 

 

880,000

 

944,848

 

None

 

None

 

880,000

 

944,848

 

1,824,848

 

11,023

 

 

 

9/29/2017

 

300

Chicago

 

IL

 

 

 

523,427

 

764,020

 

None

 

None

 

523,427

 

764,020

 

1,287,447

 

1,273

 

 

 

12/12/2017

 

300

Chicago

 

IL

 

 

 

375,413

 

823,161

 

None

 

None

 

375,413

 

823,161

 

1,198,574

 

1,372

 

 

 

12/12/2017

 

300

Countryside

 

IL

 

 

 

301,000

 

559,824

 

None

 

None

 

301,000

 

559,824

 

860,824

 

232,323

 

 

 

8/28/2007

 

300

Countryside

 

IL

 

 

 

700,000

 

1,033,775

 

None

 

None

 

700,000

 

1,033,775

 

1,733,775

 

12,061

 

 

 

9/29/2017

 

300

Edwardsville

 

IL

 

 

 

360,000

 

328,978

 

None

 

None

 

360,000

 

328,978

 

688,978

 

83,889

 

 

 

8/29/2011

 

300

Effingham

 

IL

 

 

 

806,117

 

978,383

 

None

 

None

 

806,117

 

978,383

 

1,784,500

 

1,631

 

 

 

12/15/2017

 

300

Elgin

 

IL

 

 

 

700,000

 

1,300,943

 

None

 

None

 

700,000

 

1,300,943

 

2,000,943

 

539,889

 

 

 

8/28/2007

 

300

Fairview Heights

 

IL

 

 

 

660,652

 

1,227,321

 

None

 

None

 

660,652

 

1,227,321

 

1,887,973

 

595,251

 

 

 

11/21/2005

 

300

Godfrey

 

IL

 

 

 

200,000

 

282,701

 

None

 

None

 

200,000

 

282,701

 

482,701

 

72,089

 

 

 

8/29/2011

 

300

Gurnee

 

IL

 

 

 

735,000

 

1,365,747

 

None

 

None

 

735,000

 

1,365,747

 

2,100,747

 

566,783

 

 

 

8/28/2007

 

300

Harrisburg

 

IL

 

 

 

401,819

 

1,303,225

 

None

 

None

 

401,819

 

1,303,225

 

1,705,044

 

236,753

 

 

 

6/14/2013

 

300

Highland

 

IL

 

 

 

130,000

 

454,866

 

None

 

None

 

130,000

 

454,866

 

584,866

 

115,991

 

 

 

8/29/2011

 

300

Jerseyville

 

IL

 

 

 

150,000

 

420,481

 

None

 

None

 

150,000

 

420,481

 

570,481

 

107,223

 

 

 

8/29/2011

 

300

Joliet

 

IL

 

 

 

280,903

 

522,424

 

None

 

None

 

280,903

 

522,424

 

803,327

 

216,804

 

 

 

8/28/2007

 

300

Lake in the Hills

 

IL

 

 

 

360,000

 

1,057,839

 

None

 

None

 

360,000

 

1,057,839

 

1,417,839

 

12,341

 

 

 

9/29/2017

 

300

Lincoln

 

IL

 

 

 

206,532

 

383,970

 

None

 

None

 

206,532

 

383,970

 

590,502

 

251,495

 

 

 

8/31/2001

 

300

Litchfield

 

IL

 

 

 

130,000

 

363,760

 

None

 

None

 

130,000

 

363,760

 

493,760

 

92,759

 

 

 

8/29/2011

 

300

Marion

 

IL

 

 

 

423,340

 

1,373,026

 

None

 

None

 

423,340

 

1,373,026

 

1,796,366

 

249,433

 

 

 

6/14/2013

 

300

Mascoutah

 

IL

 

 

 

80,000

 

435,792

 

None

 

None

 

80,000

 

435,792

 

515,792

 

111,127

 

 

 

8/29/2011

 

300

Mount Vernon

 

IL

 

 

 

385,304

 

1,249,662

 

None

 

None

 

385,304

 

1,249,662

 

1,634,966

 

227,022

 

 

 

6/14/2013

 

300

Naperville

 

IL

 

 

 

540,000

 

981,648

 

None

 

None

 

540,000

 

981,648

 

1,521,648

 

11,453

 

 

 

9/29/2017

 

300

Red Bud

 

IL

 

 

 

180,000

 

251,200

 

None

 

None

 

180,000

 

251,200

 

431,200

 

64,056

 

 

 

8/29/2011

 

300

Rock Island

 

IL

 

 

 

138,463

 

258,066

 

None

 

None

 

138,463

 

258,066

 

396,529

 

124,301

 

 

 

12/22/2005

 

300

Romeoville

 

IL

 

 

 

460,000

 

1,209,137

 

None

 

None

 

460,000

 

1,209,137

 

1,669,137

 

14,107

 

 

 

9/29/2017

 

300

Sparta

 

IL

 

 

 

240,000

 

236,571

 

None

 

None

 

240,000

 

236,571

 

476,571

 

60,325

 

 

 

8/29/2011

 

300

Sparta

 

IL

 

 

 

228,687

 

741,703

 

None

 

None

 

228,687

 

741,703

 

970,390

 

134,743

 

 

 

6/14/2013

 

300

Troy

 

IL

 

 

 

230,000

 

281,230

 

None

 

None

 

230,000

 

281,230

 

511,230

 

71,714

 

 

 

8/29/2011

 

300

Waukegan

 

IL

 

 

 

496,908

 

923,576

 

None

 

None

 

496,908

 

923,576

 

1,420,484

 

383,282

 

 

 

8/28/2007

 

300

Westmont

 

IL

 

 

 

475,300

 

883,468

 

None

 

None

 

475,300

 

883,468

 

1,358,768

 

366,637

 

 

 

8/28/2007

 

300

Wood River

 

IL

 

 

 

180,000

 

369,377

 

None

 

None

 

180,000

 

369,377

 

549,377

 

94,191

 

 

 

8/29/2011

 

300

Woodridge

 

IL

 

 

 

660,000

 

859,196

 

None

 

None

 

660,000

 

859,196

 

1,519,196

 

10,024

 

 

 

9/29/2017

 

300

Downers Grove

 

IL

 

 

 

460,000

 

805,310

 

None

 

None

 

460,000

 

805,310

 

1,265,310

 

9,395

 

 

 

9/29/2017

 

300

Peru

 

IL

 

 

 

480,000

 

959,452

 

None

 

None

 

480,000

 

959,452

 

1,439,452

 

11,194

 

 

 

9/29/2017

 

300

Streamwood

 

IL

 

 

 

370,000

 

1,141,816

 

None

 

None

 

370,000

 

1,141,816

 

1,511,816

 

13,321

 

 

 

9/29/2017

 

300

Tinley Park

 

IL

 

 

 

580,000

 

1,131,450

 

None

 

None

 

580,000

 

1,131,450

 

1,711,450

 

13,200

 

 

 

9/29/2017

 

300

Angola

 

IN

 

 

 

510,000

 

1,120,000

 

None

 

None

 

510,000

 

1,120,000

 

1,630,000

 

136,267

 

 

 

12/31/2014

 

300

Angola

 

IN

 

 

 

390,000

 

1,170,039

 

None

 

None

 

390,000

 

1,170,039

 

1,560,039

 

138,455

 

 

 

1/22/2015

 

300

Auburn

 

IN

 

 

 

394,008

 

1,383,992

 

None

 

None

 

394,008

 

1,383,992

 

1,778,000

 

168,386

 

 

 

12/31/2014

 

300

Bluffton

 

IN

 

 

 

377,609

 

1,326,391

 

None

 

None

 

377,609

 

1,326,391

 

1,704,000

 

161,378

 

 

 

12/31/2014

 

300

Bluffton

 

IN

 

 

 

240,910

 

689,892

 

None

 

None

 

240,910

 

689,892

 

930,802

 

81,637

 

 

 

1/22/2015

 

300

Chesterton

 

IN

 

 

 

480,000

 

1,140,302

 

None

 

None

 

480,000

 

1,140,302

 

1,620,302

 

66,518

 

 

 

7/6/2016

 

300

Columbia City

 

IN

 

 

 

520,000

 

1,480,000

 

None

 

None

 

520,000

 

1,480,000

 

2,000,000

 

180,067

 

 

 

12/31/2014

 

300

Connersville

 

IN

 

 

 

360,000

 

1,286,631

 

None

 

None

 

360,000

 

1,286,631

 

1,646,631

 

66,476

 

 

 

9/30/2016

 

300

Crawfordsville

 

IN

 

 

 

300,000

 

1,552,000

 

None

 

None

 

300,000

 

1,552,000

 

1,852,000

 

188,827

 

 

 

12/31/2014

 

300

Crown Point

 

IN

 

 

 

230,000

 

1,275,660

 

None

 

None

 

230,000

 

1,275,660

 

1,505,660

 

74,414

 

 

 

7/6/2016

 

300

Decatur

 

IN

 

 

 

361,211

 

1,331,429

 

None

 

None

 

361,211

 

1,331,429

 

1,692,640

 

19,971

 

 

 

12/31/2014

 

300

Decatur

 

IN

 

 

 

270,000

 

876,597

 

None

 

None

 

270,000

 

876,597

 

1,146,597

 

103,731

 

 

 

1/22/2015

 

300

Elkhart

 

IN

 

 

 

496,306

 

922,168

 

None

 

None

 

496,306

 

922,168

 

1,418,474

 

447,251

 

 

 

11/21/2005

 

300

Elkhart

 

IN

 

 

 

420,000

 

1,261,274

 

None

 

None

 

420,000

 

1,261,274

 

1,681,274

 

27,328

 

 

 

6/20/2017

 

300

Evansville

 

IN

 

 

 

136,738

 

806,529

 

None

 

454

 

136,738

 

806,983

 

943,721

 

144,016

 

 

 

12/22/2005

 

300

Evansville

 

IN

 

 

 

490,000

 

1,267,188

 

None

 

None

 

490,000

 

1,267,188

 

1,757,188

 

52,800

 

 

 

12/8/2016

 

300

Fort Wayne

 

IN

 

 

 

270,000

 

1,211,000

 

None

 

None

 

270,000

 

1,211,000

 

1,481,000

 

147,338

 

 

 

12/31/2014

 

300

Fort Wayne

 

IN

 

 

 

390,000

 

973,000

 

None

 

None

 

390,000

 

973,000

 

1,363,000

 

118,382

 

 

 

12/31/2014

 

300

Fort Wayne

 

IN

 

 

 

377,668

 

1,326,332

 

None

 

None

 

377,668

 

1,326,332

 

1,704,000

 

161,370

 

 

 

12/31/2014

 

300

Fort Wayne

 

IN

 

 

 

476,075

 

1,671,925

 

None

 

None

 

476,075

 

1,671,925

 

2,148,000

 

203,418

 

 

 

12/31/2014

 

300

Fort Wayne

 

IN

 

 

 

328,243

 

1,152,757

 

None

 

None

 

328,243

 

1,152,757

 

1,481,000

 

140,252

 

 

 

12/31/2014

 

300

Fort Wayne

 

IN

 

 

 

860,000

 

1,436,000

 

None

 

None

 

860,000

 

1,436,000

 

2,296,000

 

174,713

 

 

 

12/31/2014

 

300

Fort Wayne

 

IN

 

 

 

328,243

 

1,152,757

 

None

 

None

 

328,243

 

1,152,757

 

1,481,000

 

140,252

 

 

 

12/31/2014

 

300

Fort Wayne

 

IN

 

 

 

330,000

 

1,579,222

 

None

 

None

 

330,000

 

1,579,222

 

1,909,222

 

186,875

 

 

 

1/22/2015

 

300

Fort Wayne

 

IN

 

 

 

600,000

 

764,942

 

None

 

None

 

600,000

 

764,942

 

1,364,942

 

59,920

 

 

 

1/14/2016

 

300

Fort Wayne

 

IN

 

 

 

730,000

 

778,621

 

None

 

None

 

730,000

 

778,621

 

1,508,621

 

60,992

 

 

 

1/14/2016

 

300

Fort Wayne

 

IN

 

 

 

460,000

 

1,127,460

 

None

 

None

 

460,000

 

1,127,460

 

1,587,460

 

46,978

 

 

 

12/8/2016

 

300

Fort Wayne

 

IN

 

 

 

290,000

 

786,867

 

None

 

None

 

290,000

 

786,867

 

1,076,867

 

32,786

 

 

 

12/8/2016

 

300

Fort Wayne

 

IN

 

 

 

560,000

 

1,073,587

 

None

 

None

 

560,000

 

1,073,587

 

1,633,587

 

44,733

 

 

 

12/8/2016

 

300

Frankfort

 

IN

 

 

 

140,000

 

897,000

 

None

 

None

 

140,000

 

897,000

 

1,037,000

 

109,135

 

 

 

12/31/2014

 

300

Hobart

 

IN

 

 

 

510,000

 

1,179,227

 

None

 

None

 

510,000

 

1,179,227

 

1,689,227

 

68,788

 

 

 

7/6/2016

 

300

Huntington

 

IN

 

 

 

377,609

 

1,326,391

 

None

 

None

 

377,609

 

1,326,391

 

1,704,000

 

161,378

 

 

 

12/31/2014

 

300

Indianapolis

 

IN

 

 

 

437,500

 

813,225

 

None

 

None

 

437,500

 

813,225

 

1,250,725

 

337,487

 

 

 

8/28/2007

 

300

Jasper

 

IN

 

 

 

129,919

 

242,199

 

None

 

None

 

129,919

 

242,199

 

372,118

 

116,658

 

 

 

12/22/2005

 

300

Kendallville

 

IN

 

 

 

630,000

 

1,889,000

 

None

 

None

 

630,000

 

1,889,000

 

2,519,000

 

229,828

 

 

 

12/31/2014

 

300

Kokomo

 

IN

 

 

 

417,330

 

775,555

 

None

 

None

 

417,330

 

775,555

 

1,192,885

 

365,803

 

 

 

3/28/2006

 

300

Lafayette

 

IN

 

 

 

344,866

 

1,211,134

 

None

 

None

 

344,866

 

1,211,134

 

1,556,000

 

147,355

 

 

 

12/31/2014

 

300

Lebanon

 

IN

 

 

 

350,000

 

1,131,000

 

None

 

None

 

350,000

 

1,131,000

 

1,481,000

 

137,605

 

 

 

12/31/2014

 

300

Logansport

 

IN

 

 

 

170,000

 

1,311,000

 

None

 

None

 

170,000

 

1,311,000

 

1,481,000

 

159,505

 

 

 

12/31/2014

 

300

Marion

 

IN

 

 

 

426,384

 

792,314

 

None

 

None

 

426,384

 

792,314

 

1,218,698

 

381,631

 

 

 

12/13/2005

 

300

Michigan City

 

IN

 

 

 

620,000

 

1,414,291

 

None

 

None

 

620,000

 

1,414,291

 

2,034,291

 

82,500

 

 

 

7/6/2016

 

300

Muncie

 

IN

 

 

 

136,400

 

632,380

 

8,000

 

None

 

136,400

 

640,380

 

776,780

 

632,380

 

 

 

3/18/1986

 

300

Muncie

 

IN

 

 

 

67,156

 

149,157

 

265

 

3,408

 

67,156

 

152,830

 

219,986

 

171,931

 

 

 

3/30/1988

 

300

Muncie

 

IN

 

 

 

644,177

 

1,196,786

 

None

 

None

 

644,177

 

1,196,786

 

1,840,963

 

580,441

 

 

 

11/21/2005

 

300

Munster

 

IN

 

 

 

560,000

 

1,040,943

 

None

 

None

 

560,000

 

1,040,943

 

1,600,943

 

431,989

 

 

 

8/28/2007

 

300

New Haven

 

IN

 

 

 

328,243

 

1,152,757

 

None

 

None

 

328,243

 

1,152,757

 

1,481,000

 

140,252

 

 

 

12/31/2014

 

300

Noblesville

 

IN

 

 

 

430,000

 

977,000

 

None

 

None

 

430,000

 

977,000

 

1,407,000

 

118,868

 

 

 

12/31/2014

 

300

North Manchester

 

IN

 

 

 

210,000

 

679,000

 

None

 

None

 

210,000

 

679,000

 

889,000

 

82,612

 

 

 

12/31/2014

 

300

Plymouth

 

IN

 

 

 

370,000

 

1,006,612

 

None

 

None

 

370,000

 

1,006,612

 

1,376,612

 

58,719

 

 

 

7/6/2016

 

300

Portland

 

IN

 

 

 

262,598

 

922,402

 

None

 

None

 

262,598

 

922,402

 

1,185,000

 

112,226

 

 

 

12/31/2014

 

300

Rensselaer

 

IN

 

 

 

270,000

 

1,123,344

 

None

 

None

 

270,000

 

1,123,344

 

1,393,344

 

65,528

 

 

 

7/6/2016

 

300

Saint John

 

IN

 

 

 

360,000

 

1,236,085

 

None

 

None

 

360,000

 

1,236,085

 

1,596,085

 

72,105

 

 

 

7/6/2016

 

300

South Bend

 

IN

 

 

 

133,200

 

617,545

 

None

 

134

 

133,200

 

617,679

 

750,879

 

617,679

 

 

 

4/28/1986

 

300

Valparaiso

 

IN

 

 

 

365,612

 

679,507

 

None

 

None

 

365,612

 

679,507

 

1,045,119

 

325,031

 

 

 

1/11/2006

 

300

Valparaiso

 

IN

 

 

 

660,000

 

1,218,171

 

None

 

None

 

660,000

 

1,218,171

 

1,878,171

 

71,060

 

 

 

7/6/2016

 

300

Valparaiso

 

IN

 

 

 

920,000

 

1,348,113

 

None

 

None

 

920,000

 

1,348,113

 

2,268,113

 

78,640

 

 

 

7/6/2016

 

300

Wabash

 

IN

 

 

 

210,000

 

679,505

 

None

 

None

 

210,000

 

679,505

 

889,505

 

80,408

 

 

 

1/22/2015

 

300

Warsaw

 

IN

 

 

 

328,243

 

1,152,757

 

None

 

None

 

328,243

 

1,152,757

 

1,481,000

 

140,252

 

 

 

12/31/2014

 

300

Washington

 

IN

 

 

 

155,856

 

290,368

 

None

 

None

 

155,856

 

290,368

 

446,224

 

139,860

 

 

 

12/22/2005

 

300

West Lafayette

 

IN

 

 

 

344,866

 

1,211,134

 

None

 

None

 

344,866

 

1,211,134

 

1,556,000

 

147,355

 

 

 

12/31/2014

 

300

Chanute

 

KS

 

 

 

330,852

 

615,008

 

None

 

None

 

330,852

 

615,008

 

945,860

 

277,779

 

 

 

9/14/2006

 

300

Fort Scott

 

KS

 

 

 

269,301

 

500,698

 

None

 

None

 

269,301

 

500,698

 

769,999

 

226,149

 

 

 

9/14/2006

 

300

Kansas City

 

KS

 

 

 

190,000

 

700,039

 

None

 

None

 

190,000

 

700,039

 

890,039

 

178,510

 

 

 

8/29/2011

 

300

Kansas City

 

KS

 

 

 

170,000

 

214,040

 

None

 

None

 

170,000

 

214,040

 

384,040

 

54,580

 

 

 

8/29/2011

 

300

Kansas City

 

KS

 

 

 

210,000

 

624,304

 

None

 

None

 

210,000

 

624,304

 

834,304

 

159,198

 

 

 

8/29/2011

 

300

Kansas City

 

KS

 

 

 

140,000

 

767,812

 

None

 

None

 

140,000

 

767,812

 

907,812

 

195,792

 

 

 

8/29/2011

 

300

Lawrence

 

KS

 

 

 

410,000

 

338,788

 

None

 

None

 

410,000

 

338,788

 

748,788

 

86,391

 

 

 

8/29/2011

 

300

Overland Park

 

KS

 

 

 

754,020

 

1,401,069

 

None

 

None

 

754,020

 

1,401,069

 

2,155,089

 

581,441

 

 

 

8/28/2007

 

300

Overland Park

 

KS

 

 

 

570,000

 

2,432,143

 

None

 

None

 

570,000

 

2,432,143

 

3,002,143

 

44,589

 

 

 

7/12/2017

 

300

Parsons

 

KS

 

 

 

318,516

 

592,099

 

(518,185

)

None

 

318,516

 

73,914

 

392,430

 

266,639

 

 

 

9/14/2006

 

300

Mission

 

KS

 

 

 

460,000

 

2,441,296

 

None

 

None

 

460,000

 

2,441,296

 

2,901,296

 

44,757

 

 

 

7/12/2017

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bowling Green

 

KY

 

 

 

685,246

 

1,273,002

 

None

 

None

 

685,246

 

1,273,002

 

1,958,248

 

617,406

 

 

 

11/21/2005

 

300

Hazard

 

KY

 

 

 

243,836

 

453,025

 

None

 

8

 

243,836

 

453,033

 

696,869

 

204,625

 

 

 

9/14/2006

 

300

Lexington

 

KY

 

 

 

122,200

 

1,400

 

None

 

31,495

 

122,200

 

32,895

 

155,095

 

17,476

 

 

 

12/3/1986

 

240

Madisonville

 

KY

 

 

 

422,501

 

784,831

 

None

 

None

 

422,501

 

784,831

 

1,207,332

 

354,482

 

 

 

9/14/2006

 

300

Madisonville

 

KY

 

 

 

360,000

 

1,172,182

 

None

 

None

 

360,000

 

1,172,182

 

1,532,182

 

72,285

 

 

 

6/29/2016

 

300

Paducah

 

KY

 

 

 

673,551

 

1,251,276

 

None

 

None

 

673,551

 

1,251,276

 

1,924,827

 

606,869

 

 

 

11/21/2005

 

300

Deridder

 

LA

 

 

 

371,127

 

690,819

 

None

 

None

 

371,127

 

690,819

 

1,061,946

 

291,282

 

 

 

6/22/2007

 

300

Jonesboro

 

LA

 

 

 

163,651

 

304,492

 

None

 

None

 

163,651

 

304,492

 

468,143

 

137,529

 

 

 

9/14/2006

 

300

Natchitoches

 

LA

 

 

 

291,675

 

541,890

 

None

 

None

 

291,675

 

541,890

 

833,565

 

354,936

 

 

 

8/31/2001

 

300

Ruston

 

LA

 

 

 

170,274

 

316,792

 

None

 

None

 

170,274

 

316,792

 

487,066

 

143,085

 

 

 

9/14/2006

 

300

Shreveport

 

LA

 

 

 

359,268

 

667,417

 

None

 

None

 

359,268

 

667,417

 

1,026,685

 

437,156

 

 

 

8/31/2001

 

300

Shreveport

 

LA

 

 

 

154,671

 

287,815

 

None

 

None

 

154,671

 

287,815

 

442,486

 

129,996

 

 

 

9/14/2006

 

300

Shreveport

 

LA

 

 

 

200,033

 

372,059

 

None

 

None

 

200,033

 

372,059

 

572,092

 

168,047

 

 

 

9/14/2006

 

300

Shreveport

 

LA

 

 

 

259,987

 

790,739

 

None

 

None

 

259,987

 

790,739

 

1,050,726

 

38,219

 

 

 

9/14/2006

 

300

Vivian

 

LA

 

 

 

135,568

 

252,338

 

None

 

None

 

135,568

 

252,338

 

387,906

 

113,973

 

 

 

9/14/2006

 

300

Winnfield

 

LA

 

 

 

145,973

 

271,661

 

None

 

None

 

145,973

 

271,661

 

417,634

 

122,700

 

 

 

9/14/2006

 

300

Fall River

 

MA

 

 

 

962,500

 

1,787,831

 

None

 

None

 

962,500

 

1,787,831

 

2,750,331

 

741,949

 

 

 

8/28/2007

 

300

Hagerstown

 

MD

 

 

 

499,396

 

928,250

 

None

 

None

 

499,396

 

928,250

 

1,427,646

 

385,222

 

 

 

8/28/2007

 

300

Auburn

 

ME

 

 

 

330,000

 

1,011,206

 

None

 

None

 

330,000

 

1,011,206

 

1,341,206

 

42,134

 

 

 

12/8/2016

 

300

Bath

 

ME

 

 

 

370,000

 

909,934

 

None

 

None

 

370,000

 

909,934

 

1,279,934

 

37,914

 

 

 

12/8/2016

 

300

Lewiston

 

ME

 

 

 

560,000

 

993,437

 

None

 

None

 

560,000

 

993,437

 

1,553,437

 

41,393

 

 

 

12/8/2016

 

300

Lewiston

 

ME

 

 

 

370,000

 

1,015,482

 

None

 

None

 

370,000

 

1,015,482

 

1,385,482

 

42,312

 

 

 

12/8/2016

 

300

South Paris

 

ME

 

 

 

320,000

 

948,019

 

None

 

None

 

320,000

 

948,019

 

1,268,019

 

39,501

 

 

 

12/8/2016

 

300

Alma

 

MI

 

 

 

430,000

 

958,127

 

None

 

None

 

430,000

 

958,127

 

1,388,127

 

113,378

 

 

 

1/22/2015

 

300

Alma

 

MI

 

 

 

240,000

 

1,140,714

 

None

 

None

 

240,000

 

1,140,714

 

1,380,714

 

134,984

 

 

 

1/22/2015

 

300

Alpena

 

MI

 

 

 

630,000

 

773,434

 

None

 

None

 

630,000

 

773,434

 

1,403,434

 

91,523

 

 

 

1/22/2015

 

300

Bridgeport

 

MI

 

 

 

200,000

 

687,178

 

None

 

None

 

200,000

 

687,178

 

887,178

 

81,316

 

 

 

1/22/2015

 

300

Brownstown Twnshp

 

MI

 

 

 

380,000

 

1,072,130

 

None

 

None

 

380,000

 

1,072,130

 

1,452,130

 

66,115

 

 

 

6/29/2016

 

300

Cadillac

 

MI

 

 

 

180,000

 

1,372,789

 

None

 

None

 

180,000

 

1,372,789

 

1,552,789

 

162,447

 

 

 

1/22/2015

 

300

Canton

 

MI

 

 

 

279,923

 

521,223

 

None

 

None

 

279,923

 

521,223

 

801,146

 

216,305

 

 

 

8/28/2007

 

300

Clare

 

MI

 

 

 

360,000

 

1,544,858

 

None

 

None

 

360,000

 

1,544,858

 

1,904,858

 

182,808

 

 

 

1/22/2015

 

300

Commerce Township

 

MI

 

 

 

720,000

 

781,679

 

None

 

None

 

720,000

 

781,679

 

1,501,679

 

40,387

 

 

 

9/30/2016

 

300

Fraser

 

MI

 

 

 

470,000

 

1,061,927

 

None

 

None

 

470,000

 

1,061,927

 

1,531,927

 

69,025

 

 

 

5/18/2016

 

300

Gaylord

 

MI

 

 

 

680,000

 

1,344,159

 

None

 

None

 

680,000

 

1,344,159

 

2,024,159

 

159,059

 

 

 

1/22/2015

 

300

Grand Rapids

 

MI

 

 

 

600,000

 

969,204

 

None

 

None

 

600,000

 

969,204

 

1,569,204

 

114,689

 

 

 

1/22/2015

 

300

Grand Rapids

 

MI

 

 

 

490,000

 

1,090,246

 

None

 

None

 

490,000

 

1,090,246

 

1,580,246

 

129,012

 

 

 

1/22/2015

 

300

Grayling

 

MI

 

 

 

130,000

 

665,292

 

None

 

None

 

130,000

 

665,292

 

795,292

 

78,726

 

 

 

1/22/2015

 

300

Houghton Lake

 

MI

 

 

 

170,000

 

664,188

 

None

 

None

 

170,000

 

664,188

 

834,188

 

78,596

 

 

 

1/22/2015

 

300

Imlay City

 

MI

 

 

 

240,000

 

1,605,299

 

None

 

None

 

240,000

 

1,605,299

 

1,845,299

 

66,887

 

 

 

12/8/2016

 

300

Ithaca

 

MI

 

 

 

350,000

 

812,266

 

None

 

None

 

350,000

 

812,266

 

1,162,266

 

96,118

 

 

 

1/22/2015

 

300

Jackson

 

MI

 

 

 

1,420,000

 

1,162,384

 

None

 

None

 

1,420,000

 

1,162,384

 

2,582,384

 

83,304

 

 

 

3/23/2016

 

300

Kentwood

 

MI

 

 

 

480,000

 

1,025,674

 

None

 

None

 

480,000

 

1,025,674

 

1,505,674

 

100,858

 

 

 

7/21/2015

 

300

Lansing

 

MI

 

 

 

1,090,000

 

1,333,712

 

None

 

None

 

1,090,000

 

1,333,712

 

2,423,712

 

95,583

 

 

 

3/23/2016

 

300

Livonia

 

MI

 

 

 

350,000

 

651,446

 

None

 

None

 

350,000

 

651,446

 

1,001,446

 

270,348

 

 

 

8/28/2007

 

300

Ludington

 

MI

 

 

 

460,000

 

1,043,729

 

None

 

None

 

460,000

 

1,043,729

 

1,503,729

 

123,508

 

 

 

1/22/2015

 

300

Plymouth

 

MI

 

 

 

670,000

 

900,391

 

None

 

None

 

670,000

 

900,391

 

1,570,391

 

46,520

 

 

 

9/30/2016

 

300

Royal Oak

 

MI

 

 

 

380,000

 

911,591

 

None

 

None

 

380,000

 

911,591

 

1,291,591

 

37,983

 

 

 

12/8/2016

 

300

Saginaw

 

MI

 

 

 

200,000

 

897,681

 

None

 

None

 

200,000

 

897,681

 

1,097,681

 

106,226

 

 

 

1/22/2015

 

300

Sault St. Marie

 

MI

 

 

 

380,000

 

1,326,583

 

None

 

None

 

380,000

 

1,326,583

 

1,706,583

 

156,979

 

 

 

1/22/2015

 

300

Southfield

 

MI

 

 

 

520,000

 

1,482,762

 

None

 

None

 

520,000

 

1,482,762

 

2,002,762

 

91,437

 

 

 

6/29/2016

 

300

St John’s

 

MI

 

 

 

670,000

 

1,154,736

 

None

 

None

 

670,000

 

1,154,736

 

1,824,736

 

82,756

 

 

 

3/23/2016

 

300

St. Clair Shores

 

MI

 

 

 

670,000

 

948,391

 

None

 

None

 

670,000

 

948,391

 

1,618,391

 

49,000

 

 

 

9/30/2016

 

300

Sterling Heights

 

MI

 

 

 

910,000

 

832,868

 

None

 

None

 

910,000

 

832,868

 

1,742,868

 

43,032

 

 

 

9/30/2016

 

300

Taylor

 

MI

 

 

 

250,000

 

925,883

 

None

 

None

 

250,000

 

925,883

 

1,175,883

 

57,096

 

 

 

6/29/2016

 

300

Traverse City

 

MI

 

 

 

280,000

 

1,092,232

 

None

 

None

 

280,000

 

1,092,232

 

1,372,232

 

129,247

 

 

 

1/22/2015

 

300

Walker

 

MI

 

 

 

590,000

 

1,132,002

 

None

 

None

 

590,000

 

1,132,002

 

1,722,002

 

133,954

 

 

 

1/22/2015

 

300

West Branch

 

MI

 

 

 

680,038

 

1,947,424

 

None

 

None

 

680,038

 

1,947,424

 

2,627,462

 

230,445

 

 

 

1/22/2015

 

300

Affton

 

MO

 

 

 

120,000

 

171,955

 

None

 

None

 

120,000

 

171,955

 

291,955

 

43,849

 

 

 

8/29/2011

 

300

Bolivar

 

MO

 

 

 

237,094

 

440,596

 

None

 

None

 

237,094

 

440,596

 

677,690

 

288,587

 

 

 

8/31/2001

 

300

Bolivar

 

MO

 

 

 

319,203

 

851,208

 

None

 

None

 

319,203

 

851,208

 

1,170,411

 

4,256

 

 

 

11/15/2017

 

300

Bridgeton

 

MO

 

 

 

570,000

 

228,347

 

None

 

None

 

570,000

 

228,347

 

798,347

 

58,228

 

 

 

8/29/2011

 

300

Buffalo

 

MO

 

 

 

159,346

 

296,519

 

None

 

None

 

159,346

 

296,519

 

455,865

 

133,928

 

 

 

9/14/2006

 

300

Cape Girardeau

 

MO

 

 

 

450,078

 

836,372

 

None

 

None

 

450,078

 

836,372

 

1,286,450

 

400,065

 

 

 

1/11/2006

 

300

Desloge

 

MO

 

 

 

1,020,010

 

1,275,012

 

None

 

None

 

1,020,010

 

1,275,012

 

2,295,022

 

252,877

 

 

 

1/22/2013

 

300

Dexter

 

MO

 

 

 

315,830

 

1,024,338

 

None

 

None

 

315,830

 

1,024,338

 

1,340,168

 

186,088

 

 

 

6/14/2013

 

300

Farmington

 

MO

 

 

 

340,042

 

1,102,863

 

None

 

None

 

340,042

 

1,102,863

 

1,442,905

 

200,354

 

 

 

6/14/2013

 

300

Florissant

 

MO

 

 

 

290,000

 

86,396

 

None

 

None

 

290,000

 

86,396

 

376,396

 

22,031

 

 

 

8/29/2011

 

300

Florissant

 

MO

 

 

 

250,000

 

239,221

 

None

 

None

 

250,000

 

239,221

 

489,221

 

61,001

 

 

 

8/29/2011

 

300

Grandview

 

MO

 

 

 

280,000

 

235,370

 

None

 

None

 

280,000

 

235,370

 

515,370

 

60,019

 

 

 

8/29/2011

 

300

Harrisonville

 

MO

 

 

 

590,192

 

899,293

 

None

 

None

 

590,192

 

899,293

 

1,489,485

 

4,496

 

 

 

11/15/2017

 

300

Independence

 

MO

 

 

 

1,090,000

 

2,257,513

 

None

 

None

 

1,090,000

 

2,257,513

 

3,347,513

 

41,388

 

 

 

7/12/2017

 

300

Jennings

 

MO

 

 

 

1,068,827

 

-     

 

None

 

None

 

1,068,827

 

-     

 

1,068,827

 

-     

 

 

 

9/26/2017

 

N/A

Jennings

 

MO

 

 

 

546,307

 

823,044

 

None

 

None

 

546,307

 

823,044

 

1,369,351

 

9,602

 

 

 

9/26/2017

 

300

Joplin

 

MO

 

 

 

301,207

 

749,000

 

None

 

None

 

301,207

 

749,000

 

1,050,207

 

171,511

 

 

 

9/14/2006

 

300

Joplin

 

MO

 

 

 

281,001

 

522,428

 

None

 

None

 

281,001

 

522,428

 

803,429

 

235,963

 

 

 

9/14/2006

 

300

Kansas City

 

MO

 

 

 

230,000

 

484,010

 

None

 

None

 

230,000

 

484,010

 

714,010

 

123,422

 

 

 

8/29/2011

 

300

Kansas City

 

MO

 

 

 

200,000

 

339,994

 

None

 

None

 

200,000

 

339,994

 

539,994

 

86,698

 

 

 

8/29/2011

 

300

Kansas City

 

MO

 

 

 

390,000

 

2,177,667

 

None

 

None

 

390,000

 

2,177,667

 

2,567,667

 

39,924

 

 

 

7/12/2017

 

300

Lee’s Summit

 

MO

 

 

 

500,000

 

450,156

 

None

 

None

 

500,000

 

450,156

 

950,156

 

114,790

 

 

 

8/29/2011

 

300

Monett

 

MO

 

 

 

296,578

 

1,115,517

 

None

 

None

 

296,578

 

1,115,517

 

1,412,095

 

5,578

 

 

 

11/15/2017

 

300

Mount Vernon

 

MO

 

 

 

160,000

 

282,586

 

None

 

None

 

160,000

 

282,586

 

442,586

 

227,472

 

 

 

11/20/1997

 

300

Mountain Grove

 

MO

 

 

 

219,704

 

408,591

 

None

 

None

 

219,704

 

408,591

 

628,295

 

184,547

 

 

 

9/14/2006

 

300

Nevada

 

MO

 

 

 

290,795

 

540,616

 

None

 

None

 

290,795

 

540,616

 

831,411

 

244,178

 

 

 

9/14/2006

 

300

Nixa

 

MO

 

 

 

251,387

 

467,430

 

None

 

None

 

251,387

 

467,430

 

718,817

 

211,123

 

 

 

9/14/2006

 

300

Olivette

 

MO

 

 

 

319,958

 

1,037,725

 

None

 

None

 

319,958

 

1,037,725

 

1,357,683

 

188,520

 

 

 

6/14/2013

 

300

Poplar Bluff

 

MO

 

 

 

362,265

 

1,174,938

 

None

 

None

 

362,265

 

1,174,938

 

1,537,203

 

213,447

 

 

 

6/14/2013

 

300

Poplar Bluff

 

MO

 

 

 

383,603

 

1,244,145

 

None

 

None

 

383,603

 

1,244,145

 

1,627,748

 

226,020

 

 

 

6/14/2013

 

300

Potosi

 

MO

 

 

 

242,154

 

785,383

 

None

 

None

 

242,154

 

785,383

 

1,027,537

 

142,678

 

 

 

6/14/2013

 

300

Raymore

 

MO

 

 

 

460,000

 

663,580

 

None

 

None

 

460,000

 

663,580

 

1,123,580

 

169,213

 

 

 

8/29/2011

 

300

Sedalia

 

MO

 

 

 

696,604

 

1,295,380

 

39,992

 

834

 

696,604

 

1,336,206

 

2,032,810

 

590,910

 

 

 

11/1/2006

 

300

Sikeston

 

MO

 

 

 

327,805

 

1,063,176

 

None

 

None

 

327,805

 

1,063,176

 

1,390,981

 

193,144

 

 

 

6/14/2013

 

300

Springfield

 

MO

 

 

 

251,381

 

467,418

 

None

 

None

 

251,381

 

467,418

 

718,799

 

211,117

 

 

 

9/14/2006

 

300

Springfield

 

MO

 

 

 

225,939

 

420,162

 

None

 

None

 

225,939

 

420,162

 

646,101

 

188,373

 

 

 

10/12/2006

 

300

St. Louis

 

MO

 

 

 

340,000

 

88,519

 

None

 

None

 

340,000

 

88,519

 

428,519

 

22,572

 

 

 

8/29/2011

 

300

St. Louis

 

MO

 

 

 

500,000

 

184,049

 

None

 

None

 

500,000

 

184,049

 

684,049

 

46,933

 

 

 

8/29/2011

 

300

St. Louis

 

MO

 

 

 

263,107

 

853,340

 

None

 

None

 

263,107

 

853,340

 

1,116,447

 

155,023

 

 

 

6/14/2013

 

300

St. Robert

 

MO

 

 

 

329,242

 

611,728

 

None

 

None

 

329,242

 

611,728

 

940,970

 

400,678

 

 

 

8/31/2001

 

300

Webb City

 

MO

 

 

 

337,647

 

627,628

 

None

 

None

 

337,647

 

627,628

 

965,275

 

283,479

 

 

 

9/14/2006

 

300

St Louis

 

MO

 

 

 

730,000

 

692,046

 

None

 

None

 

730,000

 

692,046

 

1,422,046

 

14,994

 

 

 

6/15/2017

 

300

St Louis

 

MO

 

 

 

390,000

 

702,638

 

None

 

None

 

390,000

 

702,638

 

1,092,638

 

15,224

 

 

 

6/15/2017

 

300

Cassville

 

MO

 

 

 

408,481

 

958,856

 

None

 

None

 

408,481

 

958,856

 

1,367,337

 

4,794

 

 

 

11/15/2017

 

300

Neosho

 

MO

 

 

 

451,217

 

797,102

 

None

 

None

 

451,217

 

797,102

 

1,248,319

 

3,986

 

 

 

11/15/2017

 

300

Hannibal

 

MO

 

 

 

761,593

 

1,070,807

 

None

 

None

 

761,593

 

1,070,807

 

1,832,400

 

1,785

 

 

 

12/14/2017

 

300

Biloxi

 

MS

 

 

 

414,902

 

770,725

 

None

 

None

 

414,902

 

770,725

 

1,185,627

 

348,111

 

 

 

9/14/2006

 

300

Brandon

 

MS

 

 

 

-     

 

1,155,325

 

None

 

None

 

-     

 

1,155,325

 

1,155,325

 

28,883

 

 

 

5/9/2017

 

300

Canton

 

MS

 

 

 

163,193

 

303,268

 

None

 

None

 

163,193

 

303,268

 

466,461

 

136,976

 

 

 

9/14/2006

 

300

Carthage

 

MS

 

 

 

157,803

 

293,257

 

None

 

None

 

157,803

 

293,257

 

451,060

 

132,454

 

 

 

9/14/2006

 

300

Columbus

 

MS

 

 

 

128,409

 

238,775

 

10,873

 

None

 

128,409

 

249,648

 

378,057

 

115,644

 

 

 

12/22/2005

 

300

Columbus

 

MS

 

 

 

117,411

 

218,350

 

None

 

None

 

117,411

 

218,350

 

335,761

 

105,171

 

 

 

12/22/2005

 

300

Columbus

 

MS

 

 

 

470,000

 

1,438,148

 

None

 

None

 

470,000

 

1,438,148

 

1,908,148

 

112,655

 

 

 

1/5/2016

 

300

Corinth

 

MS

 

 

 

285,607

 

530,598

 

None

 

None

 

285,607

 

530,598

 

816,205

 

239,653

 

 

 

9/14/2006

 

300

Flowood

 

MS

 

 

 

470,000

 

1,456,444

 

None

 

None

 

470,000

 

1,456,444

 

1,926,444

 

118,943

 

 

 

12/22/2015

 

300

Flowood

 

MS

 

 

 

330,000

 

845,175

 

None

 

None

 

330,000

 

845,175

 

1,175,175

 

21,129

 

 

 

5/9/2017

 

300

Forest

 

MS

 

 

 

106,457

 

198,007

 

None

 

None

 

106,457

 

198,007

 

304,464

 

95,373

 

 

 

12/22/2005

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fulton

 

MS

 

 

 

239,686

 

445,337

 

None

 

None

 

239,686

 

445,337

 

685,023

 

291,693

 

 

 

8/31/2001

 

300

Gautier

 

MS

 

 

 

241,995

 

449,607

 

None

 

None

 

241,995

 

449,607

 

691,602

 

203,073

 

 

 

9/14/2006

 

300

Greenville

 

MS

 

 

 

311,324

 

578,378

 

None

 

None

 

311,324

 

578,378

 

889,702

 

378,835

 

 

 

8/31/2001

 

300

Greenwood

 

MS

 

 

 

177,329

 

329,520

 

None

 

None

 

177,329

 

329,520

 

506,849

 

148,833

 

 

 

9/14/2006

 

300

Grenada

 

MS

 

 

 

450,000

 

922,929

 

None

 

None

 

450,000

 

922,929

 

1,372,929

 

75,373

 

 

 

12/22/2015

 

300

Hattiesburg

 

MS

 

 

 

210,000

 

408,549

 

None

 

None

 

210,000

 

408,549

 

618,549

 

10,214

 

 

 

5/9/2017

 

300

Hattiesburg

 

MS

 

 

 

330,000

 

695,614

 

None

 

None

 

330,000

 

695,614

 

1,025,614

 

17,390

 

 

 

5/9/2017

 

300

Houston

 

MS

 

 

 

226,962

 

421,695

 

None

 

None

 

226,962

 

421,695

 

648,657

 

190,466

 

 

 

9/14/2006

 

300

Indianola

 

MS

 

 

 

270,639

 

502,822

 

None

 

None

 

270,639

 

502,822

 

773,461

 

329,346

 

 

 

8/31/2001

 

300

Iuka

 

MS

 

 

 

139,243

 

258,779

 

None

 

None

 

139,243

 

258,779

 

398,022

 

116,882

 

 

 

9/14/2006

 

300

Jackson

 

MS

 

 

 

237,982

 

442,154

 

None

 

None

 

237,982

 

442,154

 

680,136

 

199,706

 

 

 

9/14/2006

 

300

Jackson

 

MS

 

 

 

352,003

 

653,900

 

None

 

None

 

352,003

 

653,900

 

1,005,903

 

293,165

 

 

 

10/12/2006

 

300

Jackson

 

MS

 

 

 

500,000

 

548,535

 

None

 

None

 

500,000

 

548,535

 

1,048,535

 

44,797

 

 

 

12/22/2015

 

300

Jackson

 

MS

 

 

 

440,000

 

1,139,753

 

None

 

None

 

440,000

 

1,139,753

 

1,579,753

 

93,080

 

 

 

12/22/2015

 

300

Jackson

 

MS

 

 

 

480,000

 

618,357

 

None

 

None

 

480,000

 

618,357

 

1,098,357

 

50,499

 

 

 

12/22/2015

 

300

Jackson

 

MS

 

 

 

500,000

 

754,718

 

None

 

None

 

500,000

 

754,718

 

1,254,718

 

18,868

 

 

 

5/9/2017

 

300

Kosciusko

 

MS

 

 

 

311,422

 

578,550

 

None

 

None

 

311,422

 

578,550

 

889,972

 

261,312

 

 

 

9/14/2006

 

300

Magee

 

MS

 

 

 

264,395

 

491,206

 

None

 

None

 

264,395

 

491,206

 

755,601

 

221,861

 

 

 

9/14/2006

 

300

Moss Point

 

MS

 

 

 

287,821

 

534,713

 

None

 

None

 

287,821

 

534,713

 

822,534

 

241,512

 

 

 

9/14/2006

 

300

Natchez

 

MS

 

 

 

402,589

 

747,934

 

None

 

None

 

402,589

 

747,934

 

1,150,523

 

330,338

 

 

 

12/21/2006

 

300

Newton

 

MS

 

 

 

284,350

 

528,311

 

None

 

None

 

284,350

 

528,311

 

812,661

 

346,040

 

 

 

8/31/2001

 

300

Olive Branch

 

MS

 

 

 

332,234

 

617,192

 

None

 

None

 

332,234

 

617,192

 

949,426

 

278,765

 

 

 

9/14/2006

 

300

Olive Branch

 

MS

 

 

 

362,276

 

673,055

 

None

 

None

 

362,276

 

673,055

 

1,035,331

 

272,587

 

 

 

11/16/2007

 

300

Oxford

 

MS

 

 

 

297,182

 

552,097

 

None

 

26

 

297,182

 

552,123

 

849,305

 

247,534

 

 

 

10/12/2006

 

300

Pearl

 

MS

 

 

 

265,646

 

722,221

 

None

 

None

 

265,646

 

722,221

 

987,867

 

58,981

 

 

 

12/22/2015

 

300

Pearl

 

MS

 

 

 

180,000

 

833,668

 

None

 

None

 

180,000

 

833,668

 

1,013,668

 

20,842

 

 

 

5/9/2017

 

300

Philadelphia

 

MS

 

 

 

292,868

 

543,912

 

None

 

None

 

292,868

 

543,912

 

836,780

 

245,667

 

 

 

9/14/2006

 

300

Pontotoc

 

MS

 

 

 

285,006

 

529,492

 

None

 

68

 

285,006

 

529,560

 

814,566

 

239,162

 

 

 

9/14/2006

 

300

Richland

 

MS

 

 

 

364,900

 

897,118

 

None

 

None

 

364,900

 

897,118

 

1,262,018

 

73,265

 

 

 

12/22/2015

 

300

Richland

 

MS

 

 

 

280,000

 

732,641

 

None

 

None

 

280,000

 

732,641

 

1,012,641

 

18,316

 

 

 

5/9/2017

 

300

Ridgeland

 

MS

 

 

 

460,000

 

1,021,885

 

None

 

None

 

460,000

 

1,021,885

 

1,481,885

 

73,235

 

 

 

3/11/2016

 

300

Ridgeland

 

MS

 

 

 

140,000

 

799,493

 

None

 

None

 

140,000

 

799,493

 

939,493

 

19,987

 

 

 

5/9/2017

 

300

Southaven

 

MS

 

 

 

498,426

 

925,905

 

None

 

None

 

498,426

 

925,905

 

1,424,331

 

374,991

 

 

 

11/16/2007

 

300

Southaven

 

MS

 

 

 

300,000

 

889,884

 

None

 

None

 

300,000

 

889,884

 

1,189,884

 

72,674

 

 

 

12/22/2015

 

300

Southaven

 

MS

 

 

 

468,858

 

1,152,703

 

None

 

None

 

468,858

 

1,152,703

 

1,621,561

 

94,137

 

 

 

12/22/2015

 

300

Starkville

 

MS

 

 

 

175,436

 

326,005

 

None

 

None

 

175,436

 

326,005

 

501,441

 

147,246

 

 

 

9/14/2006

 

300

Starkville

 

MS

 

 

 

490,000

 

771,939

 

None

 

None

 

490,000

 

771,939

 

1,261,939

 

19,298

 

 

 

5/9/2017

 

300

Tupelo

 

MS

 

 

 

166,869

 

310,095

 

None

 

None

 

166,869

 

310,095

 

476,964

 

140,059

 

 

 

9/14/2006

 

300

Tupelo

 

MS

 

 

 

225,934

 

419,857

 

None

 

None

 

225,934

 

419,857

 

645,791

 

189,635

 

 

 

9/28/2006

 

300

Tupelo

 

MS

 

 

 

340,000

 

921,939

 

None

 

None

 

340,000

 

921,939

 

1,261,939

 

23,048

 

 

 

5/9/2017

 

300

Vicksburg

 

MS

 

 

 

275,895

 

512,632

 

None

 

None

 

275,895

 

512,632

 

788,527

 

231,539

 

 

 

9/28/2006

 

300

Vicksburg

 

MS

 

 

 

410,000

 

608,682

 

None

 

None

 

410,000

 

608,682

 

1,018,682

 

49,709

 

 

 

12/22/2015

 

300

Vicksburg

 

MS

 

 

 

230,000

 

1,046,278

 

None

 

None

 

230,000

 

1,046,278

 

1,276,278

 

26,157

 

 

 

5/9/2017

 

300

Wiggins

 

MS

 

 

 

268,104

 

498,095

 

None

 

None

 

268,104

 

498,095

 

766,199

 

224,973

 

 

 

9/14/2006

 

300

Butte

 

MT

 

 

 

1,070,000

 

786,953

 

None

 

None

 

1,070,000

 

786,953

 

1,856,953

 

43,282

 

 

 

8/4/2016

 

300

Great Falls

 

MT

 

 

 

940,000

 

810,900

 

None

 

None

 

940,000

 

810,900

 

1,750,900

 

44,599

 

 

 

8/4/2016

 

300

Helena

 

MT

 

 

 

760,000

 

816,231

 

None

 

None

 

760,000

 

816,231

 

1,576,231

 

44,893

 

 

 

8/4/2016

 

300

Kalispell

 

MT

 

 

 

650,000

 

1,009,793

 

None

 

None

 

650,000

 

1,009,793

 

1,659,793

 

62,271

 

 

 

6/30/2016

 

300

Kalispell

 

MT

 

 

 

810,000

 

835,779

 

None

 

None

 

810,000

 

835,779

 

1,645,779

 

51,540

 

 

 

6/30/2016

 

300

Missoula

 

MT

 

 

 

-     

 

837,402

 

None

 

None

 

-     

 

837,402

 

837,402

 

51,640

 

 

 

6/30/2016

 

300

Missoula

 

MT

 

 

 

860,000

 

822,122

 

None

 

None

 

860,000

 

822,122

 

1,682,122

 

50,698

 

 

 

6/30/2016

 

300

Asheville

 

NC

 

 

 

264,226

 

491,419

 

None

 

None

 

264,226

 

491,419

 

755,645

 

203,937

 

 

 

8/28/2007

 

300

Charlotte

 

NC

 

 

 

468,859

 

955,879

 

None

 

None

 

468,859

 

955,879

 

1,424,738

 

93,995

 

 

 

7/27/2015

 

300

Charlotte

 

NC

 

 

 

210,000

 

662,231

 

None

 

None

 

210,000

 

662,231

 

872,231

 

65,119

 

 

 

7/27/2015

 

300

Charlotte

 

NC

 

 

 

460,000

 

988,464

 

None

 

None

 

460,000

 

988,464

 

1,448,464

 

97,199

 

 

 

7/27/2015

 

300

Charlotte

 

NC

 

 

 

458,612

 

934,988

 

None

 

None

 

458,612

 

934,988

 

1,393,600

 

91,940

 

 

 

7/27/2015

 

300

Clinton

 

NC

 

 

 

380,000

 

962,394

 

None

 

None

 

380,000

 

962,394

 

1,342,394

 

107,467

 

 

 

3/25/2015

 

300

Concord

 

NC

 

 

 

830,000

 

985,176

 

None

 

None

 

830,000

 

985,176

 

1,815,176

 

44,333

 

 

 

11/22/2016

 

300

Connelly Springs

 

NC

 

 

 

390,000

 

1,002,204

 

None

 

None

 

390,000

 

1,002,204

 

1,392,204

 

45,099

 

 

 

11/22/2016

 

300

Dallas

 

NC

 

 

 

500,000

 

1,003,642

 

None

 

None

 

500,000

 

1,003,642

 

1,503,642

 

45,164

 

 

 

11/22/2016

 

300

Erwin

 

NC

 

 

 

514,814

 

1,087,544

 

None

 

None

 

514,814

 

1,087,544

 

1,602,358

 

1,813

 

 

 

12/12/2017

 

300

Gastonia

 

NC

 

 

 

810,000

 

766,062

 

None

 

None

 

810,000

 

766,062

 

1,576,062

 

34,473

 

 

 

11/22/2016

 

300

Granite Falls

 

NC

 

 

 

1,412,026

 

1,765,032

 

None

 

None

 

1,412,026

 

1,765,032

 

3,177,058

 

350,065

 

 

 

1/22/2013

 

300

High Point

 

NC

 

 

 

872,587

 

1,090,734

 

None

 

None

 

872,587

 

1,090,734

 

1,963,321

 

216,329

 

 

 

1/22/2013

 

300

Hildebran

 

NC

 

 

 

966,417

 

1,208,021

 

None

 

None

 

966,417

 

1,208,021

 

2,174,438

 

239,591

 

 

 

1/22/2013

 

300

Kernersville

 

NC

 

 

 

836,896

 

1,556,334

 

None

 

None

 

836,896

 

1,556,334

 

2,393,230

 

692,568

 

 

 

11/1/2006

 

300

Kinston

 

NC

 

 

 

320,000

 

836,583

 

None

 

None

 

320,000

 

836,583

 

1,156,583

 

93,418

 

 

 

3/25/2015

 

300

Lincolnton

 

NC

 

 

 

1,811,063

 

2,263,829

 

None

 

None

 

1,811,063

 

2,263,829

 

4,074,892

 

448,993

 

 

 

1/22/2013

 

300

N Wilkesboro

 

NC

 

 

 

400,000

 

955,379

 

None

 

None

 

400,000

 

955,379

 

1,355,379

 

39,807

 

 

 

12/8/2016

 

300

Newton

 

NC

 

 

 

960,000

 

1,010,399

 

None

 

None

 

960,000

 

1,010,399

 

1,970,399

 

45,468

 

 

 

11/22/2016

 

300

Raeford

 

NC

 

 

 

773,505

 

966,881

 

None

 

None

 

773,505

 

966,881

 

1,740,386

 

191,765

 

 

 

1/22/2013

 

300

Salisbury

 

NC

 

 

 

570,000

 

1,205,415

 

None

 

None

 

570,000

 

1,205,415

 

1,775,415

 

54,244

 

 

 

11/22/2016

 

300

Southport

 

NC

 

 

 

460,000

 

1,214,095

 

None

 

None

 

460,000

 

1,214,095

 

1,674,095

 

135,574

 

 

 

3/11/2015

 

300

Stanley

 

NC

 

 

 

360,000

 

858,000

 

None

 

None

 

360,000

 

858,000

 

1,218,000

 

35,750

 

 

 

12/8/2016

 

300

Thomasville

 

NC

 

 

 

983,522

 

1,229,402

 

None

 

None

 

983,522

 

1,229,402

 

2,212,924

 

243,831

 

 

 

1/22/2013

 

300

Walkertown

 

NC

 

 

 

1,033,636

 

1,292,046

 

None

 

None

 

1,033,636

 

1,292,046

 

2,325,682

 

256,256

 

 

 

1/22/2013

 

300

Wallace

 

NC

 

 

 

230,000

 

905,484

 

None

 

None

 

230,000

 

905,484

 

1,135,484

 

101,112

 

 

 

3/25/2015

 

300

Winston Salem

 

NC

 

 

 

353,239

 

656,427

 

None

 

None

 

353,239

 

656,427

 

1,009,666

 

429,954

 

 

 

8/31/2001

 

300

Winston Salem

 

NC

 

 

 

126,423

 

235,323

 

None

 

None

 

126,423

 

235,323

 

361,746

 

113,347

 

 

 

12/22/2005

 

300

Devils Lake

 

ND

 

 

 

150,390

 

279,798

 

None

 

None

 

150,390

 

279,798

 

430,188

 

134,769

 

 

 

12/22/2005

 

300

Fargo

 

ND

 

 

 

217,057

 

403,609

 

None

 

None

 

217,057

 

403,609

 

620,666

 

194,405

 

 

 

12/22/2005

 

300

Minot

 

ND

 

 

 

153,870

 

286,260

 

None

 

None

 

153,870

 

286,260

 

440,130

 

137,882

 

 

 

12/22/2005

 

300

Omaha

 

NE

 

 

 

444,460

 

825,938

 

None

 

32

 

444,460

 

825,970

 

1,270,430

 

395,106

 

 

 

1/11/2006

 

300

Omaha

 

NE

 

 

 

350,000

 

650,877

 

None

 

32

 

350,000

 

650,909

 

1,000,909

 

270,144

 

 

 

8/28/2007

 

300

Amherst

 

NY

 

 

 

412,349

 

767,082

 

None

 

None

 

412,349

 

767,082

 

1,179,431

 

318,337

 

 

 

8/28/2007

 

300

Buffalo

 

NY

 

 

 

317,454

 

591,060

 

None

 

None

 

317,454

 

591,060

 

908,514

 

245,286

 

 

 

8/28/2007

 

300

Falconer

 

NY

 

 

 

350,000

 

751,481

 

None

 

None

 

350,000

 

751,481

 

1,101,481

 

31,312

 

 

 

12/8/2016

 

300

Syracuse

 

NY

 

 

 

190,000

 

1,407,444

 

None

 

None

 

190,000

 

1,407,444

 

1,597,444

 

58,644

 

 

 

12/16/2016

 

300

Bowling Green

 

OH

 

 

 

490,000

 

1,233,026

 

None

 

None

 

490,000

 

1,233,026

 

1,723,026

 

63,706

 

 

 

9/30/2016

 

300

Cincinnati

 

OH

 

 

 

299,187

 

556,978

 

None

 

None

 

299,187

 

556,978

 

856,165

 

231,122

 

 

 

8/28/2007

 

300

Delaware

 

OH

 

 

 

580,000

 

845,272

 

None

 

None

 

580,000

 

845,272

 

1,425,272

 

38,037

 

 

 

11/30/2016

 

300

Galion

 

OH

 

 

 

260,000

 

867,572

 

None

 

None

 

260,000

 

867,572

 

1,127,572

 

39,041

 

 

 

11/30/2016

 

300

Kenton

 

OH

 

 

 

390,000

 

775,990

 

None

 

None

 

390,000

 

775,990

 

1,165,990

 

34,920

 

 

 

11/30/2016

 

300

Marion

 

OH

 

 

 

550,000

 

833,387

 

None

 

None

 

550,000

 

833,387

 

1,383,387

 

37,502

 

 

 

11/30/2016

 

300

Marion

 

OH

 

 

 

580,000

 

984,776

 

None

 

None

 

580,000

 

984,776

 

1,564,776

 

41,032

 

 

 

12/28/2016

 

300

Mentor

 

OH

 

 

 

394,450

 

734,205

 

None

 

None

 

394,450

 

734,205

 

1,128,655

 

304,681

 

 

 

8/28/2007

 

300

Parma

 

OH

 

 

 

473,710

 

881,038

 

None

 

None

 

473,710

 

881,038

 

1,354,748

 

365,629

 

 

 

8/28/2007

 

300

Toledo

 

OH

 

 

 

633,461

 

1,177,718

 

None

 

None

 

633,461

 

1,177,718

 

1,811,179

 

488,751

 

 

 

8/28/2007

 

300

Upper Sandusky

 

OH

 

 

 

260,000

 

731,454

 

None

 

None

 

260,000

 

731,454

 

991,454

 

32,915

 

 

 

11/30/2016

 

300

Van Wert

 

OH

 

 

 

330,000

 

907,061

 

None

 

None

 

330,000

 

907,061

 

1,237,061

 

107,336

 

 

 

1/22/2015

 

300

Van Wert

 

OH

 

 

 

710,000

 

798,621

 

None

 

None

 

710,000

 

798,621

 

1,508,621

 

62,559

 

 

 

1/14/2016

 

300

Bixby

 

OK

 

 

 

145,791

 

271,272

 

None

 

None

 

145,791

 

271,272

 

417,063

 

130,663

 

 

 

12/22/2005

 

300

Checotah

 

OK

 

 

 

153,232

 

285,092

 

None

 

None

 

153,232

 

285,092

 

438,324

 

137,319

 

 

 

12/22/2005

 

300

Claremore

 

OK

 

 

 

487,369

 

860,967

 

None

 

None

 

487,369

 

860,967

 

1,348,336

 

4,305

 

 

 

11/15/2017

 

300

Idabel

 

OK

 

 

 

214,244

 

398,545

 

None

 

None

 

214,244

 

398,545

 

612,789

 

261,038

 

 

 

8/31/2001

 

300

Owasso

 

OK

 

 

 

327,043

 

607,645

 

None

 

None

 

327,043

 

607,645

 

934,688

 

398,004

 

 

 

8/31/2001

 

300

Tahlequah

 

OK

 

 

 

224,982

 

418,341

 

None

 

None

 

224,982

 

418,341

 

643,323

 

201,501

 

 

 

12/22/2005

 

300

Tahlequah

 

OK

 

 

 

439,539

 

836,196

 

None

 

None

 

439,539

 

836,196

 

1,275,735

 

4,181

 

 

 

11/15/2017

 

300

Tulsa

 

OK

 

 

 

295,993

 

549,981

 

None

 

None

 

295,993

 

549,981

 

845,974

 

360,234

 

 

 

8/31/2001

 

300

Sand Springs

 

OK

 

 

 

457,598

 

808,373

 

None

 

None

 

457,598

 

808,373

 

1,265,971

 

4,042

 

 

 

11/15/2017

 

300

Salem

 

OR

 

 

 

198,540

 

689,507

 

None

 

None

 

198,540

 

689,507

 

888,047

 

517,145

 

 

 

5/23/1989

 

300

The Dalles

 

OR

 

 

 

1,034,805

 

1,293,506

 

None

 

None

 

1,034,805

 

1,293,506

 

2,328,311

 

256,545

 

 

 

1/22/2013

 

300

Allentown

 

PA

 

 

 

533,123

 

944,074

 

None

 

None

 

533,123

 

944,074

 

1,477,197

 

1,573

 

 

 

12/27/2017

 

300

Bethlehem

 

PA

 

 

 

740,000

 

1,362,228

 

None

 

None

 

740,000

 

1,362,228

 

2,102,228

 

38,596

 

 

 

4/19/2017

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Camp Hill

 

PA

 

 

 

1,090,000

 

923,201

 

None

 

None

 

1,090,000

 

923,201

 

2,013,201

 

26,157

 

 

 

4/19/2017

 

300

Carlisle

 

PA

 

 

 

980,000

 

1,307,912

 

None

 

None

 

980,000

 

1,307,912

 

2,287,912

 

37,058

 

 

 

4/19/2017

 

300

Columbia

 

PA

 

 

 

750,000

 

1,273,626

 

None

 

None

 

750,000

 

1,273,626

 

2,023,626

 

36,086

 

 

 

4/19/2017

 

300

Dillsburg

 

PA

 

 

 

960,000

 

1,103,393

 

None

 

None

 

960,000

 

1,103,393

 

2,063,393

 

31,263

 

 

 

4/19/2017

 

300

Elizabethtown

 

PA

 

 

 

930,000

 

867,819

 

None

 

None

 

930,000

 

867,819

 

1,797,819

 

24,588

 

 

 

4/19/2017

 

300

Greensburg

 

PA

 

 

 

315,000

 

586,368

 

None

 

None

 

315,000

 

586,368

 

901,368

 

243,339

 

 

 

8/28/2007

 

300

Harrisburg

 

PA

 

 

 

430,000

 

1,386,921

 

None

 

None

 

430,000

 

1,386,921

 

1,816,921

 

39,296

 

 

 

4/19/2017

 

300

Harrisburg

 

PA

 

 

 

1,020,000

 

982,970

 

None

 

None

 

1,020,000

 

982,970

 

2,002,970

 

27,851

 

 

 

4/19/2017

 

300

Lebanon

 

PA

 

 

 

450,000

 

1,150,660

 

None

 

None

 

450,000

 

1,150,660

 

1,600,660

 

32,602

 

 

 

4/19/2017

 

300

Lebanon

 

PA

 

 

 

590,000

 

1,481,159

 

None

 

None

 

590,000

 

1,481,159

 

2,071,159

 

41,966

 

 

 

4/19/2017

 

300

Middletown

 

PA

 

 

 

630,000

 

1,441,144

 

None

 

None

 

630,000

 

1,441,144

 

2,071,144

 

40,832

 

 

 

4/19/2017

 

300

Philadelphia

 

PA

 

 

 

423,333

 

787,125

 

None

 

None

 

423,333

 

787,125

 

1,210,458

 

326,655

 

 

 

8/28/2007

 

300

York

 

PA

 

 

 

780,000

 

1,216,767

 

None

 

None

 

780,000

 

1,216,767

 

1,996,767

 

34,475

 

 

 

4/19/2017

 

300

Hamburg

 

PA

 

 

 

810,000

 

1,323,432

 

None

 

None

 

810,000

 

1,323,432

 

2,133,432

 

37,497

 

 

 

4/19/2017

 

300

Sinking Spring

 

PA

 

 

 

380,000

 

973,135

 

None

 

None

 

380,000

 

973,135

 

1,353,135

 

27,572

 

 

 

4/19/2017

 

300

Ephrata

 

PA

 

 

 

770,000

 

844,372

 

None

 

None

 

770,000

 

844,372

 

1,614,372

 

23,924

 

 

 

4/19/2017

 

300

Red Lion

 

PA

 

 

 

1,050,000

 

1,005,451

 

None

 

None

 

1,050,000

 

1,005,451

 

2,055,451

 

28,488

 

 

 

4/19/2017

 

300

Jonestown

 

PA

 

 

 

1,050,000

 

1,030,109

 

None

 

None

 

1,050,000

 

1,030,109

 

2,080,109

 

29,186

 

 

 

4/19/2017

 

300

Aiken

 

SC

 

 

 

240,937

 

447,656

 

None

 

None

 

240,937

 

447,656

 

688,593

 

202,191

 

 

 

9/14/2006

 

300

Aiken

 

SC

 

 

 

618,572

 

1,261,105

 

None

 

None

 

618,572

 

1,261,105

 

1,879,677

 

124,009

 

 

 

7/27/2015

 

300

Camden

 

SC

 

 

 

450,000

 

986,046

 

None

 

None

 

450,000

 

986,046

 

1,436,046

 

96,961

 

 

 

7/27/2015

 

300

Columbia

 

SC

 

 

 

952,423

 

1,190,529

 

None

 

None

 

952,423

 

1,190,529

 

2,142,952

 

236,122

 

 

 

1/22/2013

 

300

Columbia

 

SC

 

 

 

812,611

 

1,015,764

 

None

 

None

 

812,611

 

1,015,764

 

1,828,375

 

201,460

 

 

 

1/22/2013

 

300

Columbia

 

SC

 

 

 

710,000

 

1,137,369

 

None

 

None

 

710,000

 

1,137,369

 

1,847,369

 

111,841

 

 

 

7/27/2015

 

300

Columbia

 

SC

 

 

 

344,602

 

702,552

 

None

 

None

 

344,602

 

702,552

 

1,047,154

 

69,084

 

 

 

7/27/2015

 

300

Columbia

 

SC

 

 

 

350,000

 

982,465

 

None

 

None

 

350,000

 

982,465

 

1,332,465

 

96,609

 

 

 

7/27/2015

 

300

Greer

 

SC

 

 

 

580,000

 

721,854

 

None

 

None

 

580,000

 

721,854

 

1,301,854

 

80,607

 

 

 

3/25/2015

 

300

Inman

 

SC

 

 

 

809,987

 

1,012,483

 

None

 

None

 

809,987

 

1,012,483

 

1,822,470

 

200,809

 

 

 

1/22/2013

 

300

Irmo

 

SC

 

 

 

330,000

 

1,008,769

 

None

 

None

 

330,000

 

1,008,769

 

1,338,769

 

99,196

 

 

 

7/27/2015

 

300

Leesville

 

SC

 

 

 

899,686

 

1,124,607

 

None

 

None

 

899,686

 

1,124,607

 

2,024,293

 

223,047

 

 

 

1/22/2013

 

300

Lexington

 

SC

 

 

 

530,000

 

1,278,314

 

None

 

None

 

530,000

 

1,278,314

 

1,808,314

 

125,701

 

 

 

7/27/2015

 

300

Lexington

 

SC

 

 

 

720,000

 

978,176

 

None

 

None

 

720,000

 

978,176

 

1,698,176

 

40,757

 

 

 

12/6/2016

 

300

Newberry

 

SC

 

 

 

708,489

 

885,611

 

None

 

None

 

708,489

 

885,611

 

1,594,100

 

175,646

 

 

 

1/22/2013

 

300

Piedmont

 

SC

 

 

 

841,862

 

1,052,327

 

None

 

None

 

841,862

 

1,052,327

 

1,894,189

 

208,712

 

 

 

1/22/2013

 

300

Rock Hill

 

SC

 

 

 

400,000

 

950,185

 

None

 

None

 

400,000

 

950,185

 

1,350,185

 

93,435

 

 

 

7/27/2015

 

300

Spartanburg

 

SC

 

 

 

957,339

 

1,196,673

 

None

 

None

 

957,339

 

1,196,673

 

2,154,012

 

237,340

 

 

 

1/22/2013

 

300

Walterboro

 

SC

 

 

 

240,000

 

779,500

 

None

 

None

 

240,000

 

779,500

 

1,019,500

 

94,839

 

 

 

12/8/2014

 

300

Chamberlain

 

SD

 

 

 

139,587

 

259,627

 

None

 

None

 

139,587

 

259,627

 

399,214

 

125,053

 

 

 

12/22/2005

 

300

Madison

 

SD

 

 

 

112,143

 

208,660

 

None

 

None

 

112,143

 

208,660

 

320,803

 

100,504

 

 

 

12/22/2005

 

300

Rapid City

 

SD

 

 

 

197,967

 

368,047

 

None

 

None

 

197,967

 

368,047

 

566,014

 

177,275

 

 

 

12/22/2005

 

300

Sioux Falls

 

SD

 

 

 

340,718

 

633,332

 

None

 

None

 

340,718

 

633,332

 

974,050

 

277,611

 

 

 

1/19/2007

 

300

Spearfish

 

SD

 

 

 

142,114

 

264,320

 

None

 

None

 

142,114

 

264,320

 

406,434

 

127,314

 

 

 

12/22/2005

 

300

Winner

 

SD

 

 

 

115,591

 

215,063

 

None

 

None

 

115,591

 

215,063

 

330,654

 

103,588

 

 

 

12/22/2005

 

300

Antioch

 

TN

 

 

 

244,470

 

454,016

 

None

 

None

 

244,470

 

454,016

 

698,486

 

203,551

 

 

 

10/2/2006

 

300

Brownsville

 

TN

 

 

 

289,379

 

538,081

 

None

 

None

 

289,379

 

538,081

 

827,460

 

352,435

 

 

 

8/31/2001

 

300

Chattanooga

 

TN

 

 

 

490,000

 

740,474

 

2,640

 

None

 

490,000

 

743,114

 

1,233,114

 

105,753

 

 

 

6/30/2014

 

300

Collierville

 

TN

 

 

 

433,503

 

805,339

 

None

 

None

 

433,503

 

805,339

 

1,238,842

 

326,162

 

 

 

11/16/2007

 

300

Columbia

 

TN

 

 

 

410,242

 

761,878

 

None

 

None

 

410,242

 

761,878

 

1,172,120

 

341,575

 

 

 

10/2/2006

 

300

Germantown

 

TN

 

 

 

356,774

 

662,837

 

None

 

None

 

356,774

 

662,837

 

1,019,611

 

268,449

 

 

 

11/16/2007

 

300

Henderson

 

TN

 

 

 

155,954

 

289,815

 

None

 

None

 

155,954

 

289,815

 

445,769

 

130,900

 

 

 

9/14/2006

 

300

Hermitage

 

TN

 

 

 

341,251

 

633,753

 

None

 

26

 

341,251

 

633,779

 

975,030

 

284,136

 

 

 

10/2/2006

 

300

Jackson

 

TN

 

 

 

312,734

 

581,049

 

224,858

 

11,559

 

312,734

 

817,466

 

1,130,200

 

260,767

 

 

 

11/16/2007

 

300

Manchester

 

TN

 

 

 

411,504

 

764,222

 

None

 

22,500

 

411,504

 

786,722

 

1,198,226

 

344,465

 

 

 

10/2/2006

 

300

Martin

 

TN

 

 

 

173,616

 

322,616

 

None

 

None

 

173,616

 

322,616

 

496,232

 

145,715

 

 

 

9/14/2006

 

300

McMinnville

 

TN

 

 

 

442,735

 

635,260

 

None

 

None

 

442,735

 

635,260

 

1,077,995

 

280,555

 

 

 

12/21/2006

 

300

Memphis

 

TN

 

 

 

148,386

 

275,760

 

None

 

None

 

148,386

 

275,760

 

424,146

 

124,551

 

 

 

9/14/2006

 

300

Memphis

 

TN

 

 

 

254,423

 

472,680

 

None

 

None

 

254,423

 

472,680

 

727,103

 

211,918

 

 

 

10/12/2006

 

300

Memphis

 

TN

 

 

 

309,358

 

574,779

 

None

 

None

 

309,358

 

574,779

 

884,137

 

232,786

 

 

 

11/16/2007

 

300

Memphis

 

TN

 

 

 

361,660

 

983,255

 

None

 

None

 

361,660

 

983,255

 

1,344,915

 

80,299

 

 

 

12/22/2015

 

300

Memphis

 

TN

 

 

 

550,000

 

821,983

 

None

 

None

 

550,000

 

821,983

 

1,371,983

 

67,129

 

 

 

12/22/2015

 

300

Memphis

 

TN

 

 

 

445,782

 

1,095,968

 

None

 

None

 

445,782

 

1,095,968

 

1,541,750

 

89,504

 

 

 

12/22/2015

 

300

Memphis

 

TN

 

 

 

660,000

 

1,253,473

 

None

 

None

 

660,000

 

1,253,473

 

1,913,473

 

102,367

 

 

 

12/22/2015

 

300

Milan

 

TN

 

 

 

138,159

 

256,766

 

None

 

None

 

138,159

 

256,766

 

394,925

 

115,973

 

 

 

9/14/2006

 

300

Millington

 

TN

 

 

 

285,613

 

530,630

 

None

 

None

 

285,613

 

530,630

 

816,243

 

347,560

 

 

 

8/31/2001

 

300

Murfreesboro

 

TN

 

 

 

376,568

 

699,340

 

None

 

None

 

376,568

 

699,340

 

1,075,908

 

313,538

 

 

 

10/2/2006

 

300

Murfreesboro

 

TN

 

 

 

383,266

 

712,027

 

None

 

None

 

383,266

 

712,027

 

1,095,293

 

314,478

 

 

 

12/21/2006

 

300

Nashville

 

TN

 

 

 

147,915

 

274,700

 

None

 

None

 

147,915

 

274,700

 

422,615

 

123,157

 

 

 

10/2/2006

 

300

Nashville

 

TN

 

 

 

432,494

 

803,203

 

None

 

None

 

432,494

 

803,203

 

1,235,697

 

360,103

 

 

 

10/2/2006

 

300

Nashville

 

TN

 

 

 

350,983

 

651,825

 

None

 

44,175

 

350,983

 

696,000

 

1,046,983

 

296,248

 

 

 

10/2/2006

 

300

Nashville

 

TN

 

 

 

500,000

 

653,785

 

6,900

 

None

 

500,000

 

660,685

 

1,160,685

 

94,704

 

 

 

6/30/2014

 

300

Ripley

 

TN

 

 

 

231,552

 

430,232

 

None

 

None

 

231,552

 

430,232

 

661,784

 

281,799

 

 

 

8/31/2001

 

300

Sevierville

 

TN

 

 

 

423,790

 

787,301

 

None

 

None

 

423,790

 

787,301

 

1,211,091

 

355,598

 

 

 

9/28/2006

 

300

Shelbyville

 

TN

 

 

 

245,370

 

455,687

 

None

 

None

 

245,370

 

455,687

 

701,057

 

204,300

 

 

 

10/2/2006

 

300

Trenton

 

TN

 

 

 

174,379

 

324,032

 

None

 

None

 

174,379

 

324,032

 

498,411

 

146,354

 

 

 

9/14/2006

 

300

Allen

 

TX

 

 

 

165,000

 

306,771

 

None

 

None

 

165,000

 

306,771

 

471,771

 

226,499

 

7/9/1999

 

5/28/1999

 

300

Arlington

 

TX

 

 

 

560,000

 

1,040,667

 

None

 

None

 

560,000

 

1,040,667

 

1,600,667

 

431,875

 

 

 

8/28/2007

 

300

Arlington

 

TX

 

 

 

269,284

 

500,766

 

None

 

None

 

269,284

 

500,766

 

770,050

 

207,816

 

 

 

8/28/2007

 

300

Aubrey

 

TX

 

 

 

140,000

 

726,739

 

122,905

 

None

 

140,000

 

849,644

 

989,644

 

71,119

 

 

 

12/7/2015

 

300

Beaumont

 

TX

 

 

 

1,175,014

 

1,468,768

 

None

 

None

 

1,175,014

 

1,468,768

 

2,643,782

 

291,306

 

 

 

1/22/2013

 

300

Centerville

 

TX

 

 

 

340,000

 

873,035

 

None

 

None

 

340,000

 

873,035

 

1,213,035

 

85,848

 

 

 

7/21/2015

 

300

Coppell

 

TX

 

 

 

212,875

 

396,007

 

None

 

None

 

212,875

 

396,007

 

608,882

 

164,341

 

 

 

8/28/2007

 

300

Corpus Christi

 

TX

 

 

 

826,321

 

1,032,902

 

None

 

None

 

826,321

 

1,032,902

 

1,859,223

 

204,859

 

 

 

1/22/2013

 

300

Crossroads

 

TX

 

 

 

310,000

 

706,609

 

114,605

 

None

 

310,000

 

821,214

 

1,131,214

 

68,680

 

 

 

12/21/2015

 

300

Dallas

 

TX

 

 

 

386,451

 

718,361

 

None

 

None

 

386,451

 

718,361

 

1,104,812

 

298,118

 

 

 

8/28/2007

 

300

Denton

 

TX

 

 

 

380,000

 

700,572

 

110,497

 

None

 

380,000

 

811,069

 

1,191,069

 

67,793

 

 

 

12/7/2015

 

300

Desoto

 

TX

 

 

 

133,393

 

714,604

 

None

 

None

 

133,393

 

714,604

 

847,997

 

1,191

 

 

 

12/14/2017

 

300

Ennis

 

TX

 

 

 

173,250

 

384,793

 

45,798

 

12,600

 

173,250

 

443,191

 

616,441

 

420,333

 

 

 

12/28/1987

 

300

Farmersville

 

TX

 

 

 

190,000

 

677,920

 

117,515

 

None

 

190,000

 

795,435

 

985,435

 

66,617

 

 

 

12/21/2015

 

300

Ferris

 

TX

 

 

 

922,690

 

1,153,363

 

None

 

None

 

922,690

 

1,153,363

 

2,076,053

 

228,750

 

 

 

1/22/2013

 

300

Forney

 

TX

 

 

 

1,141,991

 

1,427,489

 

None

 

None

 

1,141,991

 

1,427,489

 

2,569,480

 

283,119

 

 

 

1/22/2013

 

300

Fort Worth

 

TX

 

 

 

223,195

 

492,067

 

None

 

54

 

223,195

 

492,121

 

715,316

 

492,121

 

 

 

6/26/1991

 

300

Fort Worth

 

TX

 

 

 

423,281

 

382,059

 

None

 

None

 

423,281

 

382,059

 

805,340

 

349,584

 

 

 

2/10/1995

 

300

Grand Prairie

 

TX

 

 

 

280,000

 

520,197

 

None

 

None

 

280,000

 

520,197

 

800,197

 

215,882

 

 

 

8/28/2007

 

300

Houston

 

TX

 

 

 

113,693

 

-     

 

None

 

58

 

113,693

 

58

 

113,751

 

39

 

 

 

3/7/1997

 

60

Houston

 

TX

 

 

 

335,664

 

624,233

 

None

 

None

 

335,664

 

624,233

 

959,897

 

259,055

 

 

 

8/28/2007

 

300

Houston

 

TX

 

 

 

1,003,721

 

1,254,651

 

None

 

None

 

1,003,721

 

1,254,651

 

2,258,372

 

248,839

 

 

 

1/22/2013

 

300

Hurst

 

TX

 

 

 

215,623

 

401,245

 

None

 

None

 

215,623

 

401,245

 

616,868

 

166,515

 

 

 

8/28/2007

 

300

Irving

 

TX

 

 

 

291,971

 

543,094

 

None

 

None

 

291,971

 

543,094

 

835,065

 

225,382

 

 

 

8/28/2007

 

300

Irving

 

TX

 

 

 

692,977

 

891,832

 

None

 

None

 

692,977

 

891,832

 

1,584,809

 

1,486

 

 

 

12/14/2017

 

300

Irving

 

TX

 

 

 

452,388

 

504,864

 

None

 

None

 

452,388

 

504,864

 

957,252

 

841

 

 

 

12/14/2017

 

300

Irving

 

TX

 

 

 

380,807

 

940,381

 

None

 

None

 

380,807

 

940,381

 

1,321,188

 

1,567

 

 

 

12/14/2017

 

300

Irving

 

TX

 

 

 

307,353

 

562,158

 

None

 

None

 

307,353

 

562,158

 

869,511

 

937

 

 

 

12/14/2017

 

300

Justin

 

TX

 

 

 

200,000

 

792,249

 

120,814

 

None

 

200,000

 

913,063

 

1,113,063

 

76,269

 

 

 

12/7/2015

 

300

Krum

 

TX

 

 

 

120,000

 

753,238

 

156,281

 

None

 

120,000

 

909,519

 

1,029,519

 

76,481

 

 

 

12/7/2015

 

300

Lewisville

 

TX

 

 

 

448,000

 

832,667

 

None

 

None

 

448,000

 

832,667

 

1,280,667

 

345,555

 

 

 

8/28/2007

 

300

Lufkin

 

TX

 

 

 

128,842

 

239,585

 

None

 

None

 

128,842

 

239,585

 

368,427

 

115,400

 

 

 

12/22/2005

 

300

Lumberton

 

TX

 

 

 

111,146

 

206,720

 

None

 

17,061

 

111,146

 

223,781

 

334,927

 

100,039

 

 

 

12/22/2005

 

300

Porter

 

TX

 

 

 

227,067

 

333,031

 

None

 

None

 

227,067

 

333,031

 

560,098

 

304,724

 

 

 

2/9/1995

 

300

Sanger

 

TX

 

 

 

150,000

 

702,524

 

119,691

 

None

 

150,000

 

822,215

 

972,215

 

68,834

 

 

 

12/7/2015

 

300

Santa Fe

 

TX

 

 

 

304,414

 

623,331

 

None

 

None

 

304,414

 

623,331

 

927,745

 

493,412

 

 

 

3/23/1998

 

300

South Houston

 

TX

 

 

 

1,139,426

 

1,424,283

 

None

 

None

 

1,139,426

 

1,424,283

 

2,563,709

 

282,483

 

 

 

1/22/2013

 

300

Stafford

 

TX

 

 

 

214,024

 

423,733

 

None

 

128

 

214,024

 

423,861

 

637,885

 

423,861

 

 

 

6/26/1991

 

300

Temple

 

TX

 

 

 

302,505

 

291,414

 

None

 

None

 

302,505

 

291,414

 

593,919

 

266,643

 

 

 

2/9/1995

 

300

Texarkana

 

TX

 

 

 

311,263

 

578,266

 

None

 

None

 

311,263

 

578,266

 

889,529

 

378,761

 

 

 

8/31/2001

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Victoria

 

TX

 

 

 

1,062,212

 

1,327,765

 

None

 

None

 

1,062,212

 

1,327,765

 

2,389,977

 

263,340

 

 

 

1/22/2013

 

300

Victoria

 

TX

 

 

 

884,385

 

1,105,481

 

None

 

None

 

884,385

 

1,105,481

 

1,989,866

 

219,254

 

 

 

1/22/2013

 

300

Vidor

 

TX

 

 

 

146,291

 

271,990

 

None

 

None

 

146,291

 

271,990

 

418,281

 

131,009

 

 

 

12/22/2005

 

300

Hampton

 

VA

 

 

 

433,985

 

459,108

 

None

 

None

 

433,985

 

459,108

 

893,093

 

361,919

 

 

 

4/17/1998

 

300

Hampton

 

VA

 

 

 

805,000

 

1,495,800

 

None

 

None

 

805,000

 

1,495,800

 

2,300,800

 

620,755

 

 

 

8/28/2007

 

300

Lynchburg

 

VA

 

 

 

308,824

 

573,529

 

None

 

None

 

308,824

 

573,529

 

882,353

 

167,279

 

 

 

9/14/2010

 

300

Spokane

 

WA

 

 

 

479,531

 

646,719

 

None

 

None

 

479,531

 

646,719

 

1,126,250

 

511,933

 

 

 

3/27/1998

 

300

Vancouver

 

WA

 

 

 

1,302,457

 

1,628,071

 

None

 

None

 

1,302,457

 

1,628,071

 

2,930,528

 

322,901

 

 

 

1/22/2013

 

300

Appleton

 

WI

 

 

 

340,126

 

631,662

 

None

 

None

 

340,126

 

631,662

 

971,788

 

144,230

 

 

 

4/17/2012

 

300

Beaver Dam

 

WI

 

 

 

230,000

 

980,309

 

None

 

None

 

230,000

 

980,309

 

1,210,309

 

99,665

 

 

 

6/25/2015

 

300

Grafton

 

WI

 

 

 

149,778

 

332,664

 

None

 

None

 

149,778

 

332,664

 

482,442

 

332,664

 

 

 

10/29/1987

 

300

Green Bay

 

WI

 

 

 

308,131

 

572,756

 

None

 

None

 

308,131

 

572,756

 

880,887

 

273,968

 

 

 

1/11/2006

 

300

Kenosha

 

WI

 

 

 

140,000

 

1,261,738

 

None

 

None

 

140,000

 

1,261,738

 

1,401,738

 

65,190

 

 

 

9/30/2016

 

300

Oshkosh

 

WI

 

 

 

385,870

 

716,616

 

None

 

None

 

385,870

 

716,616

 

1,102,486

 

163,627

 

 

 

4/17/2012

 

300

Pewaukee

 

WI

 

 

 

590,000

 

1,125,653

 

None

 

None

 

590,000

 

1,125,653

 

1,715,653

 

58,159

 

 

 

9/30/2016

 

300

Waukesha

 

WI

 

 

 

380,000

 

1,430,547

 

None

 

None

 

380,000

 

1,430,547

 

1,810,547

 

73,912

 

 

 

9/30/2016

 

300

Cody

 

WY

 

 

 

740,000

 

729,300

 

None

 

None

 

740,000

 

729,300

 

1,469,300

 

44,974

 

 

 

6/30/2016

 

300

Sheridan

 

WY

 

 

 

680,000

 

835,246

 

None

 

None

 

680,000

 

835,246

 

1,515,246

 

51,507

 

 

 

6/30/2016

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shoe stores

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lebec

 

CA

 

8,818,869

 

2,357,234

 

30,943,343

 

None

 

None

 

2,357,234

 

30,943,343

 

33,300,577

 

4,383,640

 

 

 

1/22/2013

 

420

Staten Island

 

NY

 

 

 

3,190,883

 

3,413,933

 

128,082

 

207,431

 

3,190,883

 

3,749,446

 

6,940,329

 

2,484,202

 

 

 

3/26/1998

 

300

Brookville

 

OH

 

18,509,933

 

2,577,129

 

48,823,456

 

None

 

None

 

2,577,129

 

48,823,456

 

51,400,585

 

6,916,656

 

 

 

1/22/2013

 

420

McMinnville

 

TN

 

 

 

703,355

 

1,432,903

 

29,784

 

7,275

 

703,355

 

1,469,962

 

2,173,317

 

614,771

 

 

 

11/1/2006

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sporting goods

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anchorage

 

AK

 

 

 

1,486,000

 

5,045,244

 

6,306

 

84,689

 

1,486,000

 

5,136,239

 

6,622,239

 

3,274,374

 

 

 

10/17/2001

 

300

Tuscaloosa

 

AL

 

 

 

2,270,000

 

6,727,302

 

None

 

None

 

2,270,000

 

6,727,302

 

8,997,302

 

302,729

 

 

 

11/9/2016

 

300

Mesa

 

AZ

 

 

 

984,890

 

1,536,269

 

None

 

None

 

984,890

 

1,536,269

 

2,521,159

 

668,259

 

 

 

2/12/2007

 

300

Fresno

 

CA

 

 

 

1,650,000

 

3,321,244

 

1,961,816

 

92,395

 

1,650,000

 

5,375,455

 

7,025,455

 

2,333,499

 

 

 

10/17/2001

 

300

Augusta

 

GA

 

 

 

1,460,000

 

5,953,083

 

None

 

None

 

1,460,000

 

5,953,083

 

7,413,083

 

754,569

 

9/17/2014

 

4/16/2014

 

300

Gainesville

 

GA

 

 

 

1,830,000

 

6,944,636

 

None

 

None

 

1,830,000

 

6,944,636

 

8,774,636

 

289,360

 

 

 

12/7/2016

 

300

Pooler

 

GA

 

 

 

1,339,957

 

1,831,350

 

None

 

None

 

1,339,957

 

1,831,350

 

3,171,307

 

857,347

 

 

 

3/1/2006

 

300

Algonquin

 

IL

 

 

 

1,360,000

 

7,255,745

 

None

 

None

 

1,360,000

 

7,255,745

 

8,615,745

 

893,417

 

10/6/2014

 

4/22/2014

 

300

Marion

 

IL

 

 

 

-     

 

6,630,238

 

None

 

None

 

-     

 

6,630,238

 

6,630,238

 

541,514

 

5/7/2015

 

11/13/2014

 

300

Avon

 

IN

 

 

 

2,200,000

 

5,299,303

 

5,039

 

None

 

2,200,000

 

5,304,342

 

7,504,342

 

759,882

 

4/8/2014

 

10/11/2013

 

300

Greenwood

 

IN

 

 

 

1,490,000

 

5,241,516

 

None

 

None

 

1,490,000

 

5,241,516

 

6,731,516

 

794,963

 

 

 

3/25/2014

 

300

Houma

 

LA

 

 

 

1,598,298

 

4,493,174

 

None

 

None

 

1,598,298

 

4,493,174

 

6,091,472

 

322,011

 

 

 

3/30/2016

 

300

Thibodaux

 

LA

 

 

 

930,000

 

9,470,000

 

None

 

None

 

930,000

 

9,470,000

 

10,400,000

 

394,583

 

 

 

12/6/2016

 

300

Winston Salem

 

NC

 

 

 

2,390,000

 

3,416,323

 

None

 

None

 

2,390,000

 

3,416,323

 

5,806,323

 

643,408

 

 

 

4/12/2013

 

300

Kearney

 

NE

 

 

 

173,950

 

344,393

 

None

 

None

 

173,950

 

344,393

 

518,343

 

344,393

 

 

 

5/1/1990

 

300

Glendale

 

NY

 

 

 

5,559,686

 

4,447,566

 

3,100,000

 

85,811

 

5,559,686

 

7,633,377

 

13,193,063

 

2,519,083

 

 

 

12/29/2004

 

300

Huber Heights

 

OH

 

 

 

2,280,000

 

5,814,036

 

None

 

None

 

2,280,000

 

5,814,036

 

8,094,036

 

687,994

 

 

 

1/27/2015

 

300

Reynoldsburg

 

OH

 

 

 

850,000

 

2,770,492

 

250

 

None

 

850,000

 

2,770,742

 

3,620,742

 

392,491

 

 

 

6/19/2014

 

300

Owasso

 

OK

 

 

 

2,140,000

 

6,780,084

 

None

 

None

 

2,140,000

 

6,780,084

 

8,920,084

 

372,905

 

 

 

8/1/2016

 

300

Eugene

 

OR

 

 

 

720,000

 

7,434,760

 

49,978

 

None

 

720,000

 

7,484,738

 

8,204,738

 

1,455,158

 

 

 

3/22/2013

 

300

Mechanicsburg

 

PA

 

 

 

2,101,415

 

3,902,912

 

None

 

125

 

2,101,415

 

3,903,037

 

6,004,452

 

2,517,400

 

 

 

11/8/2001

 

300

Columbia

 

SC

 

 

 

1,145,120

 

2,770,957

 

None

 

None

 

1,145,120

 

2,770,957

 

3,916,077

 

1,130,162

 

 

 

3/3/2005

 

300

Spartanburg

 

SC

 

 

 

1,234,815

 

3,111,921

 

(428,405

)

None

 

806,410

 

3,111,921

 

3,918,331

 

1,591,035

 

 

 

3/3/2005

 

300

Baytown

 

TX

 

 

 

1,750,000

 

7,070,132

 

None

 

None

 

1,750,000

 

7,070,132

 

8,820,132

 

247,455

 

 

 

2/28/2017

 

300

El Paso

 

TX

 

 

 

700,000

 

2,501,244

 

1,478,677

 

103,253

 

700,000

 

4,083,174

 

4,783,174

 

1,776,913

 

 

 

10/17/2001

 

300

Houston

 

TX

 

 

 

1,140,982

 

4,253,818

 

None

 

None

 

1,140,982

 

4,253,818

 

5,394,800

 

446,651

 

 

 

5/28/2015

 

300

Huntsville

 

TX

 

 

 

580,000

 

5,720,000

 

None

 

None

 

580,000

 

5,720,000

 

6,300,000

 

753,133

 

 

 

9/29/2014

 

300

Port Arthur

 

TX

 

 

 

1,609,120

 

4,523,600

 

None

 

None

 

1,609,120

 

4,523,600

 

6,132,720

 

324,191

 

 

 

3/30/2016

 

300

San Antonio

 

TX

 

 

 

3,730,000

 

4,666,465

 

None

 

None

 

3,730,000

 

4,666,465

 

8,396,465

 

334,430

 

 

 

3/30/2016

 

300

Wichita Falls

 

TX

 

 

 

1,100,000

 

5,556,669

 

None

 

None

 

1,100,000

 

5,556,669

 

6,656,669

 

805,717

 

 

 

5/13/2014

 

300

Fredericksburg

 

VA

 

 

 

1,941,000

 

2,979,888

 

None

 

89

 

1,941,000

 

2,979,977

 

4,920,977

 

1,931,992

 

 

 

10/17/2001

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Telecommunications

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Augusta

 

GA

 

 

 

2,720,359

 

11,128,077

 

None

 

147

 

2,720,359

 

11,128,224

 

13,848,583

 

2,986,181

 

 

 

4/1/2011

 

300

Davenport

 

IA

 

 

 

270,000

 

930,689

 

184,246

 

11,270

 

270,000

 

1,126,205

 

1,396,205

 

749,571

 

 

 

6/26/1998

 

300

Harmans

 

MD

 

 

 

3,411,391

 

11,757,946

 

428,235

 

None

 

3,411,391

 

12,186,181

 

15,597,572

 

1,781,779

 

 

 

1/22/2013

 

420

East Syracuse

 

NY

 

8,858,274

 

880,000

 

15,816,613

 

None

 

None

 

880,000

 

15,816,613

 

16,696,613

 

1,675,808

 

 

 

4/30/2014

 

420

Portland

 

OR

 

 

 

1,246,233

 

7,769,297

 

None

 

None

 

1,246,233

 

7,769,297

 

9,015,530

 

279,629

 

9/12/2016

 

12/10/2015

 

420

Salem

 

OR

 

 

 

1,721,686

 

9,387,216

 

2,750

 

58

 

1,721,686

 

9,390,024

 

11,111,710

 

2,458,057

 

 

 

6/22/2011

 

300

Brownsville

 

TX

 

 

 

1,740,479

 

11,570,294

 

None

 

147

 

1,740,479

 

11,570,441

 

13,310,920

 

3,104,843

 

 

 

4/1/2011

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Theaters

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fairbanks

 

AK

 

 

 

2,586,879

 

9,575

 

None

 

154

 

2,586,879

 

9,729

 

2,596,608

 

6,548

 

 

 

9/27/2000

 

300

Huntsville

 

AL

 

 

 

2,810,868

 

14,308

 

None

 

None

 

2,810,868

 

14,308

 

2,825,176

 

9,753

 

 

 

9/27/2000

 

300

Chula Vista

 

CA

 

 

 

2,060,287

 

8,914,162

 

None

 

None

 

2,060,287

 

8,914,162

 

10,974,449

 

2,273,111

 

 

 

8/8/2011

 

300

Norwalk

 

CA

 

 

 

2,466,208

 

18,293,125

 

None

 

None

 

2,466,208

 

18,293,125

 

20,759,333

 

3,670,629

 

 

 

8/8/2011

 

300

Denver

 

CO

 

 

 

5,150,000

 

9,056,647

 

602,403

 

None

 

5,150,000

 

9,659,050

 

14,809,050

 

1,347,143

 

 

 

6/27/2014

 

300

Englewood

 

CO

 

 

 

2,009,483

 

6,027,241

 

None

 

None

 

2,009,483

 

6,027,241

 

8,036,724

 

24,849

 

 

 

11/30/2017

 

300

Naples

 

FL

 

 

 

2,618,441

 

8,979,199

 

None

 

None

 

2,618,441

 

8,979,199

 

11,597,640

 

6,210,593

 

 

 

9/27/2000

 

300

Austell

 

GA

 

 

 

2,497,504

 

10,148,237

 

None

 

None

 

2,497,504

 

10,148,237

 

12,645,741

 

2,587,800

 

 

 

8/8/2011

 

300

Chamblee

 

GA

 

 

 

4,329,404

 

14,942

 

None

 

None

 

4,329,404

 

14,942

 

4,344,346

 

9,997

 

 

 

9/27/2000

 

300

Morrow

 

GA

 

 

 

2,962,468

 

17,068,280

 

115,230

 

None

 

2,962,468

 

17,183,510

 

20,145,978

 

3,656,302

 

 

 

8/8/2011

 

300

Council Bluffs

 

IA

 

 

 

4,924,553

 

14,207,916

 

None

 

None

 

4,924,553

 

14,207,916

 

19,132,469

 

4,944,575

 

 

 

1/31/2008

 

300

Dubuque

 

IA

 

 

 

3,185,053

 

5,915,983

 

None

 

None

 

3,185,053

 

5,915,983

 

9,101,036

 

2,356,533

 

 

 

1/31/2008

 

300

Edwardsville

 

IL

 

 

 

4,270,500

 

9,070,885

 

None

 

None

 

4,270,500

 

9,070,885

 

13,341,385

 

4,459,842

 

 

 

9/28/2005

 

300

Lake In The Hills

 

IL

 

 

 

3,297,566

 

11,716,314

 

None

 

None

 

3,297,566

 

11,716,314

 

15,013,880

 

4,913,781

 

 

 

9/28/2005

 

300

Lombard

 

IL

 

 

 

3,650,000

 

19,098,041

 

None

 

None

 

3,650,000

 

19,098,041

 

22,748,041

 

413,791

 

 

 

6/27/2017

 

300

Marion

 

IL

 

 

 

832,500

 

3,499,885

 

None

 

None

 

832,500

 

3,499,885

 

4,332,385

 

1,720,767

 

 

 

9/28/2005

 

300

Mattoon

 

IL

 

 

 

543,183

 

5,110,193

 

None

 

None

 

543,183

 

5,110,193

 

5,653,376

 

2,512,502

 

 

 

9/28/2005

 

300

North Pekin

 

IL

 

 

 

1,575,231

 

9,183,100

 

None

 

None

 

1,575,231

 

9,183,100

 

10,758,331

 

4,515,015

 

 

 

9/28/2005

 

300

Rockford

 

IL

 

 

 

4,270,500

 

16,675,954

 

(1,779

)

None

 

4,268,721

 

16,675,954

 

20,944,675

 

8,199,001

 

 

 

9/28/2005

 

300

Springfield

 

IL

 

 

 

3,151,838

 

10,404,452

 

None

 

None

 

3,151,838

 

10,404,452

 

13,556,290

 

5,115,512

 

 

 

9/28/2005

 

300

Woodridge

 

IL

 

 

 

2,940,000

 

12,166,530

 

None

 

None

 

2,940,000

 

12,166,530

 

15,106,530

 

263,608

 

 

 

6/29/2017

 

300

Bloomington

 

IN

 

 

 

2,498,642

 

7,934,745

 

None

 

None

 

2,498,642

 

7,934,745

 

10,433,387

 

3,901,240

 

 

 

9/28/2005

 

300

Columbus

 

IN

 

 

 

1,999,812

 

7,234,361

 

None

 

None

 

1,999,812

 

7,234,361

 

9,234,173

 

3,556,885

 

 

 

9/28/2005

 

300

Indianapolis

 

IN

 

 

 

2,700,395

 

17,672,980

 

2,592,447

 

None

 

2,700,395

 

20,265,427

 

22,965,822

 

8,652,542

 

 

 

9/28/2005

 

300

Terre Haute

 

IN

 

 

 

1,249,321

 

9,835,885

 

None

 

None

 

1,249,321

 

9,835,885

 

11,085,206

 

4,835,967

 

 

 

9/28/2005

 

300

Schererville

 

IN

 

 

 

1,500,000

 

12,982,759

 

None

 

None

 

1,500,000

 

12,982,759

 

14,482,759

 

151,466

 

 

 

9/13/2017

 

300

Coon Rapids

 

MN

 

 

 

2,460,040

 

17,641,170

 

None

 

None

 

2,460,040

 

17,641,170

 

20,101,210

 

7,709,969

 

 

 

9/28/2005

 

300

Inver Grove

 

MN

 

 

 

2,863,272

 

18,471,062

 

None

 

None

 

2,863,272

 

18,471,062

 

21,334,334

 

7,888,114

 

 

 

9/28/2005

 

300

Poplar Bluff

 

MO

 

 

 

1,106,618

 

4,872,502

 

None

 

None

 

1,106,618

 

4,872,502

 

5,979,120

 

2,395,637

 

 

 

9/28/2005

 

300

Richmond Heights

 

MO

 

 

 

970,000

 

4,565,760

 

None

 

None

 

970,000

 

4,565,760

 

5,535,760

 

98,925

 

 

 

6/29/2017

 

300

Deptford

 

NJ

 

 

 

9,660,000

 

12,546,897

 

None

 

None

 

9,660,000

 

12,546,897

 

22,206,897

 

146,380

 

 

 

9/13/2017

 

300

Rockaway

 

NJ

 

 

 

8,634,576

 

14,679,823

 

None

 

None

 

8,634,576

 

14,679,823

 

23,314,399

 

6,487,613

 

12/6/2006

 

4/13/2005

 

300

Wayne

 

NJ

 

 

 

1,411,282

 

6,688,718

 

None

 

None

 

1,411,282

 

6,688,718

 

8,100,000

 

11,148

 

 

 

12/18/2017

 

300

Marlton

 

NJ

 

 

 

4,330,000

 

12,842,414

 

None

 

None

 

4,330,000

 

12,842,414

 

17,172,414

 

149,828

 

 

 

9/13/2017

 

300

Amherst

 

NY

 

 

 

3,740,000

 

11,734,981

 

None

 

None

 

3,740,000

 

11,734,981

 

15,474,981

 

136,908

 

 

 

9/13/2017

 

300

Binghamton

 

NY

 

 

 

2,700,000

 

5,570,505

 

47,777

 

None

 

2,700,000

 

5,618,282

 

8,318,282

 

2,780,326

 

 

 

9/29/2005

 

300

Henrietta

 

NY

 

 

 

2,152,546

 

8,953,645

 

None

 

None

 

2,152,546

 

8,953,645

 

11,106,191

 

2,283,180

 

 

 

8/8/2011

 

300

Webster

 

NY

 

 

 

1,490,000

 

18,510,000

 

None

 

None

 

1,490,000

 

18,510,000

 

20,000,000

 

215,950

 

 

 

9/13/2017

 

300

Rockville Centre

 

NY

 

 

 

1,920,000

 

8,562,759

 

None

 

None

 

1,920,000

 

8,562,759

 

10,482,759

 

99,899

 

 

 

9/13/2017

 

300

Levittown

 

NY

 

 

 

5,270,000

 

22,316,207

 

None

 

None

 

5,270,000

 

22,316,207

 

27,586,207

 

260,356

 

 

 

9/13/2017

 

300

Akron

 

OH

 

 

 

1,511,018

 

1,386

 

None

 

None

 

1,511,018

 

1,386

 

1,512,404

 

945

 

 

 

9/27/2000

 

300

Beavercreek

 

OH

 

 

 

2,062,545

 

8,467,551

 

620,044

 

None

 

2,062,545

 

9,087,595

 

11,150,140

 

2,388,378

 

 

 

8/8/2011

 

300

Columbus

 

OH

 

 

 

2,103,351

 

5,161,550

 

None

 

None

 

2,103,351

 

5,161,550

 

7,264,901

 

3,122,725

 

 

 

11/1/2002

 

300

Hillsboro

 

OR

 

 

 

4,915,032

 

16,377

 

None

 

58

 

4,915,032

 

16,435

 

4,931,467

 

11,215

 

 

 

9/27/2000

 

300

Portland

 

OR

 

 

 

2,793,001

 

9,942

 

None

 

58

 

2,793,001

 

10,000

 

2,803,001

 

6,829

 

 

 

9/27/2000

 

300

Spartanburg

 

SC

 

 

 

2,072,738

 

8,340,814

 

87,111

 

None

 

2,072,738

 

8,427,925

 

10,500,663

 

1,846,209

 

 

 

7/31/2012

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Burleson

 

TX

 

 

 

2,280,000

 

6,195,734

 

421,144

 

None

 

2,280,000

 

6,616,878

 

8,896,878

 

1,461,438

 

 

 

7/26/2006

 

300

Dallas

 

TX

 

 

 

1,483,281

 

7,029,956

 

None

 

None

 

1,483,281

 

7,029,956

 

8,513,237

 

11,717

 

 

 

12/27/2017

 

300

Fort Worth

 

TX

 

 

 

1,483,281

 

7,029,956

 

None

 

None

 

1,483,281

 

7,029,956

 

8,513,237

 

11,717

 

 

 

12/27/2017

 

300

Laredo

 

TX

 

 

 

2,161,477

 

5,561,558

 

None

 

None

 

2,161,477

 

5,561,558

 

7,723,035

 

2,476,450

 

10/11/2006

 

8/9/2005

 

300

Live Oak

 

TX

 

 

 

2,910,035

 

12,674,850

 

None

 

None

 

2,910,035

 

12,674,850

 

15,584,885

 

3,232,087

 

 

 

8/8/2011

 

300

Longview

 

TX

 

 

 

2,887,500

 

5,363,826

 

None

 

None

 

2,887,500

 

5,363,826

 

8,251,326

 

2,583,576

 

 

 

12/21/2005

 

300

Lubbock

 

TX

 

 

 

1,642,533

 

6,984,372

 

None

 

None

 

1,642,533

 

6,984,372

 

8,626,905

 

1,781,015

 

 

 

8/8/2011

 

300

Waco

 

TX

 

 

 

1,013,706

 

5,880,539

 

None

 

None

 

1,013,706

 

5,880,539

 

6,894,245

 

2,636,442

 

 

 

10/6/2006

 

300

Wichita Falls

 

TX

 

 

 

660,000

 

8,940,000

 

None

 

None

 

660,000

 

8,940,000

 

9,600,000

 

104,300

 

 

 

9/29/2017

 

300

Glen Allen

 

VA

 

 

 

1,314,065

 

9,748,457

 

None

 

None

 

1,314,065

 

9,748,457

 

11,062,522

 

6,742,647

 

 

 

9/27/2000

 

300

Roanoke

 

VA

 

 

 

2,212,494

 

9,324,958

 

None

 

None

 

2,212,494

 

9,324,958

 

11,537,452

 

2,377,864

 

 

 

8/8/2011

 

300

Sterling

 

VA

 

 

 

4,546,305

 

33,325

 

None

 

None

 

4,546,305

 

33,325

 

4,579,630

 

22,156

 

 

 

9/27/2000

 

300

Marysville

 

WA

 

 

 

1,988,142

 

-     

 

None

 

None

 

1,988,142

 

-     

 

1,988,142

 

-     

 

 

 

7/27/2000

 

N/A

Fitchburg

 

WI

 

 

 

5,540,553

 

13,924,709

 

None

 

None

 

5,540,553

 

13,924,709

 

19,465,262

 

4,359,495

 

 

 

1/31/2008

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transportation services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Phoenix

 

AZ

 

 

 

4,106,903

 

23,819,301

 

None

 

None

 

4,106,903

 

23,819,301

 

27,926,204

 

3,374,401

 

 

 

1/22/2013

 

420

West Sacramento

 

CA

 

 

 

12,277,918

 

29,165,650

 

17,616

 

None

 

12,277,918

 

29,183,266

 

41,461,184

 

4,136,053

 

 

 

1/22/2013

 

420

Palmetto

 

FL

 

 

 

1,853,907

 

14,815,927

 

30,263

 

None

 

1,853,907

 

14,846,190

 

16,700,097

 

2,955,612

 

 

 

3/17/2011

 

300

Conley

 

GA

 

 

 

420,000

 

780,000

 

None

 

None

 

420,000

 

780,000

 

1,200,000

 

217,100

 

 

 

1/10/2011

 

300

Chicago

 

IL

 

 

 

612,500

 

1,137,500

 

None

 

None

 

612,500

 

1,137,500

 

1,750,000

 

316,604

 

 

 

1/10/2011

 

300

Grayslake

 

IL

 

 

 

5,044,195

 

26,218,048

 

500

 

None

 

5,044,195

 

26,218,548

 

31,262,743

 

5,761,402

 

 

 

4/21/2011

 

300

Evansville

 

IN

 

 

 

959,651

 

4,053,122

 

None

 

None

 

959,651

 

4,053,122

 

5,012,773

 

1,020,036

 

 

 

9/13/2011

 

300

Zionsville

 

IN

 

 

 

2,450,000

 

29,831,530

 

500

 

None

 

2,450,000

 

29,832,030

 

32,282,030

 

1,100,992

 

 

 

9/6/2016

 

420

Dodge City

 

KS

 

 

 

244,811

 

3,713,789

 

8,765

 

None

 

244,811

 

3,722,554

 

3,967,365

 

487,876

 

 

 

1/22/2013

 

420

Hays

 

KS

 

 

 

171,304

 

2,701,222

 

10,568

 

None

 

171,304

 

2,711,790

 

2,883,094

 

332,551

 

 

 

1/22/2013

 

420

Wichita

 

KS

 

 

 

2,840,499

 

7,375,302

 

1,000

 

None

 

2,840,499

 

7,376,302

 

10,216,801

 

2,004,299

 

 

 

3/16/2011

 

300

Louisville

 

KY

 

 

 

472,500

 

877,500

 

None

 

None

 

472,500

 

877,500

 

1,350,000

 

244,238

 

 

 

1/10/2011

 

300

Louisville

 

KY

 

 

 

5,732,055

 

30,841,995

 

None

 

None

 

5,732,055

 

30,841,995

 

36,574,050

 

4,369,283

 

 

 

1/22/2013

 

420

Saint Rose

 

LA

 

 

 

3,147,428

 

8,283,048

 

21,892

 

None

 

3,147,428

 

8,304,940

 

11,452,368

 

2,007,312

 

 

 

12/20/2011

 

300

Baltimore

 

MD

 

 

 

1,740,080

 

4,580,068

 

None

 

None

 

1,740,080

 

4,580,068

 

6,320,148

 

2,641,874

 

12/24/2003

 

4/1/2003

 

300

Baltimore

 

MD

 

 

 

4,499,317

 

50,857,761

 

36,500

 

None

 

4,499,317

 

50,894,261

 

55,393,578

 

7,014,923

 

 

 

1/22/2013

 

420

Detroit

 

MI

 

 

 

280,000

 

520,000

 

None

 

None

 

280,000

 

520,000

 

800,000

 

144,733

 

 

 

1/10/2011

 

300

Gibraltar

 

MI

 

 

 

245,000

 

455,000

 

None

 

None

 

245,000

 

455,000

 

700,000

 

126,642

 

 

 

1/10/2011

 

300

Novi

 

MI

 

 

 

210,000

 

677,324

 

None

 

None

 

210,000

 

677,324

 

887,324

 

75,635

 

 

 

3/31/2015

 

300

Saginaw

 

MI

 

 

 

219,564

 

10,638,391

 

10,464

 

2,597

 

219,564

 

10,651,452

 

10,871,016

 

1,509,620

 

 

 

1/22/2013

 

420

Saline

 

MI

 

 

 

1,275,995

 

17,421,877

 

5,127

 

None

 

1,275,995

 

17,427,004

 

18,702,999

 

2,271,007

 

 

 

1/22/2013

 

420

Rogers

 

MN

 

 

 

5,330,000

 

32,179,760

 

500

 

None

 

5,330,000

 

32,180,260

 

37,510,260

 

1,417,517

 

 

 

6/30/2016

 

420

Saint Cloud

 

MN

 

 

 

474,860

 

4,309,642

 

7,133

 

None

 

474,860

 

4,316,775

 

4,791,635

 

611,172

 

 

 

1/22/2013

 

420

Shakopee

 

MN

 

 

 

2,451,948

 

12,666,361

 

None

 

98,424

 

2,451,948

 

12,764,785

 

15,216,733

 

2,762,780

 

 

 

3/17/2011

 

300

Springfield

 

MO

 

 

 

2,669,300

 

19,440,332

 

102,640

 

None

 

2,669,300

 

19,542,972

 

22,212,272

 

2,769,068

 

 

 

1/22/2013

 

420

Petal

 

MS

 

 

 

315,000

 

3,657,281

 

None

 

None

 

315,000

 

3,657,281

 

3,972,281

 

471,147

 

5/24/2013

 

7/12/2012

 

420

Charlotte

 

NC

 

 

 

735,000

 

1,365,000

 

None

 

None

 

735,000

 

1,365,000

 

2,100,000

 

379,925

 

 

 

1/10/2011

 

300

Grand Forks

 

ND

 

 

 

366,876

 

4,592,558

 

19,030

 

None

 

366,876

 

4,611,588

 

4,978,464

 

501,489

 

 

 

1/22/2013

 

420

Lincoln

 

NE

 

 

 

792,802

 

9,619,413

 

12,500

 

None

 

792,802

 

9,631,913

 

10,424,715

 

1,239,854

 

 

 

1/22/2013

 

420

West Lebanon

 

NH

 

 

 

996,755

 

10,367,090

 

None

 

None

 

996,755

 

10,367,090

 

11,363,845

 

1,144,232

 

 

 

1/22/2013

 

420

Bronx

 

NY

 

11,185,995

 

-     

 

19,765,973

 

123,919

 

None

 

-     

 

19,889,892

 

19,889,892

 

2,877,173

 

 

 

1/22/2013

 

420

Rensselaer

 

NY

 

 

 

5,393,842

 

67,289,268

 

None

 

142,250

 

5,393,842

 

67,431,518

 

72,825,360

 

8,963,094

 

 

 

1/22/2013

 

420

Columbus

 

OH

 

 

 

245,000

 

455,000

 

None

 

None

 

245,000

 

455,000

 

700,000

 

126,642

 

 

 

1/10/2011

 

300

North Canton

 

OH

 

 

 

-     

 

10,641,063

 

None

 

None

 

-     

 

10,641,063

 

10,641,063

 

1,507,484

 

 

 

1/22/2013

 

420

Uniontown

 

OH

 

 

 

2,237,958

 

53,040,112

 

None

 

None

 

2,237,958

 

53,040,112

 

55,278,070

 

7,514,016

 

 

 

1/22/2013

 

420

Vandalia

 

OH

 

 

 

719,985

 

10,102,113

 

8,352

 

None

 

719,985

 

10,110,465

 

10,830,450

 

2,307,189

 

 

 

4/10/2012

 

300

Walbridge

 

OH

 

 

 

210,000

 

390,000

 

None

 

None

 

210,000

 

390,000

 

600,000

 

108,550

 

 

 

1/10/2011

 

300

Whitehall

 

OH

 

 

 

1,400,000

 

24,053,357

 

15,694

 

None

 

1,400,000

 

24,069,051

 

25,469,051

 

1,632,552

 

 

 

8/26/2015

 

420

Coraopolis

 

PA

 

 

 

350,000

 

650,000

 

None

 

None

 

350,000

 

650,000

 

1,000,000

 

180,917

 

 

 

1/10/2011

 

300

Franklin

 

PA

 

 

 

405,243

 

4,797,771

 

22,294

 

None

 

405,243

 

4,820,065

 

5,225,308

 

705,960

 

 

 

3/15/2011

 

420

Parker

 

PA

 

 

 

210,000

 

390,000

 

None

 

None

 

210,000

 

390,000

 

600,000

 

108,550

 

 

 

1/10/2011

 

300

Snow Shoe

 

PA

 

 

 

591,101

 

12,994,366

 

None

 

None

 

591,101

 

12,994,366

 

13,585,467

 

1,840,869

 

 

 

1/22/2013

 

420

Sioux Falls

 

SD

 

1,554,302

 

416,023

 

3,775,664

 

None

 

None

 

416,023

 

3,775,664

 

4,191,687

 

531,686

 

 

 

1/22/2013

 

420

Chattanooga

 

TN

 

 

 

2,024,239

 

8,974,591

 

11,169

 

106,018

 

2,024,239

 

9,091,778

 

11,116,017

 

2,443,362

 

 

 

3/17/2011

 

300

Memphis

 

TN

 

 

 

3,570,000

 

16,398,303

 

202,533

 

None

 

3,570,000

 

16,600,836

 

20,170,836

 

2,350,154

 

 

 

2/27/2013

 

420

Mt Juliet

 

TN

 

16,383,730

 

3,290,000

 

24,709,876

 

None

 

None

 

3,290,000

 

24,709,876

 

27,999,876

 

1,264,910

 

 

 

3/31/2016

 

420

Freeport

 

TX

 

 

 

245,000

 

455,000

 

None

 

None

 

245,000

 

455,000

 

700,000

 

126,642

 

 

 

1/10/2011

 

300

Houston

 

TX

 

 

 

5,802,459

 

45,111,656

 

None

 

None

 

5,802,459

 

45,111,656

 

50,914,115

 

6,390,818

 

 

 

1/22/2013

 

420

Houston

 

TX

 

 

 

3,140,000

 

11,319,877

 

None

 

None

 

3,140,000

 

11,319,877

 

14,459,877

 

1,280,878

 

 

 

1/31/2014

 

420

Houston

 

TX

 

 

 

3,910,000

 

16,504,232

 

None

 

None

 

3,910,000

 

16,504,232

 

20,414,232

 

1,867,434

 

 

 

1/31/2014

 

420

La Porte

 

TX

 

 

 

875,000

 

1,625,000

 

None

 

None

 

875,000

 

1,625,000

 

2,500,000

 

452,292

 

 

 

1/10/2011

 

300

Missouri City

 

TX

 

 

 

5,360,000

 

27,203,138

 

None

 

None

 

5,360,000

 

27,203,138

 

32,563,138

 

1,198,233

 

9/30/2016

 

6/30/2016

 

420

Sherman

 

TX

 

 

 

439,127

 

9,850,580

 

None

 

None

 

439,127

 

9,850,580

 

10,289,707

 

1,395,496

 

 

 

1/22/2013

 

420

Vineyard

 

UT

 

 

 

1,732,107

 

7,525,979

 

None

 

None

 

1,732,107

 

7,525,979

 

9,258,086

 

1,634,538

 

 

 

3/17/2011

 

300

Spokane Valley

 

WA

 

 

 

805,923

 

13,722,626

 

None

 

12

 

805,923

 

13,722,638

 

14,528,561

 

1,524,215

 

 

 

1/22/2013

 

420

Beaver

 

WV

 

 

 

497,198

 

6,060,449

 

13,245

 

None

 

497,198

 

6,073,694

 

6,570,892

 

784,381

 

 

 

1/22/2013

 

420

Charleston

 

WV

 

 

 

2,251,894

 

6,527,770

 

None

 

None

 

2,251,894

 

6,527,770

 

8,779,664

 

790,275

 

 

 

12/28/2012

 

420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wholesale clubs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Colorado Springs

 

CO

 

 

 

3,540,000

 

6,206,964

 

1,500

 

None

 

3,540,000

 

6,208,464

 

9,748,464

 

1,128,273

 

 

 

6/28/2013

 

300

Derby

 

CT

 

 

 

5,699,931

 

10,584,586

 

1,000

 

None

 

5,699,931

 

10,585,586

 

16,285,517

 

2,240,929

 

 

 

9/20/2012

 

300

Waterford

 

CT

 

 

 

11,841,797

 

21,990,910

 

1,000

 

None

 

11,841,797

 

21,991,910

 

33,833,707

 

4,655,268

 

 

 

9/20/2012

 

300

Sanford

 

FL

 

 

 

5,788,032

 

10,748,203

 

1,000

 

None

 

5,788,032

 

10,749,203

 

16,537,235

 

2,275,561

 

 

 

9/20/2012

 

300

Augusta

 

GA

 

 

 

4,673,148

 

9,903,758

 

2,072

 

None

 

4,673,148

 

9,905,830

 

14,578,978

 

1,965,264

 

 

 

1/22/2013

 

300

Louisville

 

KY

 

 

 

2,760,000

 

4,164,146

 

1,500

 

None

 

2,760,000

 

4,165,646

 

6,925,646

 

757,162

 

 

 

6/28/2013

 

300

Kenner

 

LA

 

 

 

2,570,000

 

6,294,719

 

1,500

 

None

 

2,570,000

 

6,296,219

 

8,866,219

 

1,144,216

 

 

 

6/28/2013

 

300

Abingdon

 

MD

 

 

 

8,965,840

 

16,649,846

 

1,000

 

None

 

8,965,840

 

16,650,846

 

25,616,686

 

3,524,742

 

 

 

9/20/2012

 

300

Capitol Heights

 

MD

 

17,820,000

 

2,900,000

 

19,570,396

 

1,000

 

None

 

2,900,000

 

19,571,396

 

22,471,396

 

2,903,317

 

 

 

4/1/2014

 

300

Columbia

 

MD

 

 

 

10,208,201

 

18,958,088

 

None

 

None

 

10,208,201

 

18,958,088

 

29,166,289

 

4,771,119

 

 

 

9/30/2011

 

300

Nashua

 

NH

 

 

 

7,204,581

 

13,379,935

 

None

 

None

 

7,204,581

 

13,379,935

 

20,584,516

 

3,367,284

 

 

 

9/30/2011

 

300

Clay

 

NY

 

 

 

6,902,476

 

12,817,384

 

1,500

 

None

 

6,902,476

 

12,818,884

 

19,721,360

 

2,713,800

 

 

 

9/20/2012

 

300

Freeport

 

NY

 

 

 

13,122,718

 

24,369,763

 

1,000

 

None

 

13,122,718

 

24,370,763

 

37,493,481

 

6,133,682

 

 

 

9/30/2011

 

300

Yorktown Heights

 

NY

 

 

 

11,225,391

 

20,847,154

 

None

 

None

 

11,225,391

 

20,847,154

 

32,072,545

 

5,246,534

 

 

 

9/30/2011

 

300

Oklahoma City

 

OK

 

 

 

3,130,000

 

6,607,526

 

1,500

 

None

 

3,130,000

 

6,609,026

 

9,739,026

 

1,201,042

 

 

 

6/28/2013

 

300

Tulsa

 

OK

 

 

 

3,100,000

 

6,280,893

 

1,500

 

None

 

3,100,000

 

6,282,393

 

9,382,393

 

1,141,704

 

 

 

6/28/2013

 

300

Conshohocken

 

PA

 

 

 

7,231,557

 

13,430,034

 

None

 

None

 

7,231,557

 

13,430,034

 

20,661,591

 

3,379,892

 

 

 

9/30/2011

 

300

Stroudsburg

 

PA

 

 

 

5,192,837

 

9,642,340

 

1,500

 

None

 

5,192,837

 

9,643,840

 

14,836,677

 

2,041,749

 

 

 

9/20/2012

 

300

York

 

PA

 

 

 

5,433,864

 

10,090,462

 

1,000

 

None

 

5,433,864

 

10,091,462

 

15,525,326

 

2,136,339

 

 

 

9/20/2012

 

300

Memphis

 

TN

 

 

 

4,810,000

 

4,880,207

 

None

 

None

 

4,810,000

 

4,880,207

 

9,690,207

 

886,571

 

 

 

6/28/2013

 

300

Nashville

 

TN

 

 

 

3,750,000

 

6,190,754

 

1,500

 

None

 

3,750,000

 

6,192,254

 

9,942,254

 

1,125,329

 

 

 

6/28/2013

 

300

Amarillo

 

TX

 

 

 

1,190,000

 

5,820,158

 

1,000

 

None

 

1,190,000

 

5,821,158

 

7,011,158

 

1,057,779

 

 

 

6/28/2013

 

300

El Paso

 

TX

 

 

 

2,720,000

 

6,293,142

 

1,000

 

None

 

2,720,000

 

6,294,142

 

9,014,142

 

1,143,704

 

 

 

6/28/2013

 

300

Houston

 

TX

 

 

 

3,410,000

 

5,759,623

 

1,500

 

None

 

3,410,000

 

5,761,123

 

9,171,123

 

1,047,007

 

 

 

6/28/2013

 

300

Jersey Village

 

TX

 

 

 

3,370,000

 

5,865,635

 

1,500

 

None

 

3,370,000

 

5,867,135

 

9,237,135

 

1,066,265

 

 

 

6/28/2013

 

300

Plano

 

TX

 

 

 

6,750,000

 

7,580,624

 

1,000

 

None

 

6,750,000

 

7,581,624

 

14,331,624

 

1,377,597

 

 

 

6/28/2013

 

300

San Antonio

 

TX

 

 

 

3,660,000

 

5,213,163

 

1,500

 

None

 

3,660,000

 

5,214,663

 

8,874,663

 

947,733

 

 

 

6/28/2013

 

300

San Antonio

 

TX

 

 

 

3,830,000

 

5,019,869

 

1,500

 

None

 

3,830,000

 

5,021,369

 

8,851,369

 

912,618

 

 

 

6/28/2013

 

300

Tyler

 

TX

 

 

 

1,940,000

 

4,638,872

 

1,500

 

None

 

1,940,000

 

4,640,372

 

6,580,372

 

843,403

 

 

 

6/28/2013

 

300

Waco

 

TX

 

 

 

2,000,000

 

4,262,780

 

1,500

 

None

 

2,000,000

 

4,264,280

 

6,264,280

 

775,080

 

 

 

6/28/2013

 

300

Mechanicsville

 

VA

 

 

 

5,650,222

 

10,493,270

 

None

 

None

 

5,650,222

 

10,493,270

 

16,143,492

 

2,221,075

 

 

 

9/20/2012

 

300

Woodbridge

 

VA

 

 

 

5,659,285

 

10,509,101

 

1,000

 

None

 

5,659,285

 

10,510,101

 

16,169,386

 

2,645,415

 

 

 

9/30/2011

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

San Diego

 

CA

 

 

 

5,699,757

 

22,539,067

 

586,694

 

24

 

5,699,757

 

23,125,785

 

28,825,542

 

2,543,457

 

 

 

9/13/2013

 

420

San Diego

 

CA

 

 

 

5,810,243

 

15,603,737

 

1,448,858

 

68,181

 

5,810,243

 

17,120,776

 

22,931,019

 

2,087,165

 

 

 

9/13/2013

 

420

Venice

 

FL

 

 

 

259,686

 

362,562

 

59,435

 

154

 

259,686

 

422,151

 

681,837

 

329,656

 

 

 

11/26/1996

 

300

Jackson

 

MS

 

 

 

405,360

 

656,296

 

(124,313

)

None

 

405,360

 

531,983

 

937,343

 

567,885

 

 

 

11/26/1996

 

300

Meridian

 

MS

 

 

 

181,156

 

515,598

 

131,997

 

602

 

181,156

 

648,197

 

829,353

 

542,960

 

 

 

11/26/1996

 

300



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF DECEMBER 31, 2017

 

 

 

 

 

 

 

 

 

Cost Capitalized

 

 

 

 

 

 

 

 

 

Life on

 

 

 

 

 

 

 

 

Subsequent

 

Gross Amount at Which Carried

 

 

 

 

 

 

 

which

 

 

 

 

 

 

Initial Cost to Company

 

to Acquisition

 

at Close of Period (Notes 3, 4, 6 and 7)

 

 

 

 

 

 

 

depreciation

 

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

Buildings,

 

 

 

 

 

 

 

 

 

in latest

 

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

Improvements

 

 

 

 

 

 

 

 

 

Income

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

and

 

 

 

Accumulated

 

 

 

 

 

Statement

Description

 

 

 

Encumbrances

 

 

 

Acquisition

 

 

 

Carrying

 

 

 

Acquisition

 

 

 

Depreciation

 

Date of

 

Date

 

is Computed

(Note 1)

 

 

 

(Note 2)

 

Land

 

Fees

 

Improvements

 

Costs

 

Land

 

Fees

 

Total

 

(Note 5)

 

Construction

 

Acquired

 

(in Months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Clementon

 

NJ

 

 

 

279,851

 

554,060

 

78,768

 

11,821

 

279,851

 

644,649

 

924,500

 

580,514

 

 

 

9/9/1991

 

300

Watertown

 

NY

 

 

 

139,199

 

-     

 

None

 

None

 

139,199

 

-     

 

139,199

 

-     

 

 

 

8/18/1986

 

N/A

Virginia Beach

 

VA

 

 

 

551,588

 

797,260

 

60,210

 

22

 

551,588

 

857,492

 

1,409,080

 

660,661

 

 

 

2/23/1998

 

300

Tacoma

 

WA

 

 

 

198,857

 

-     

 

None

 

None

 

198,857

 

-     

 

198,857

 

-     

 

 

 

5/29/1984

 

N/A

Crest Net Lease

 

 

 

 

 

3,442,468

 

16,534,681

 

1,220

 

8

 

3,442,469

 

16,535,908

 

19,978,377

 

744,197

 

 

 

Various

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

320,282,759

 

4,086,800,791

 

10,887,309,413

 

44,803,561

 

8,129,650

 

4,083,622,819

 

10,943,420,596

 

15,027,043,415

 

2,350,544,126

 

 

 

 

 

 



Table of Contents

 

REALTY INCOME CORPORATION AND SUBSIDIARIES

SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION

 

 

Note 1.

Realty Income Corporation owns 5,124 single-tenant properties and one corporate headquarters property. Crest Net Lease, Inc. owns 20 properties.

 

 

 

Realty Income Corporation also owns 28 multi-tenant properties located in each of the following cities: Anchorage, AK; El Cajon, CA; Elk Grove, CA; Hanford, CA; Sacramento, CA; San Diego, CA; Danbury, CT; Brandon, FL; Cutler Bay, FL; Deerfield Beach, FL; Winter Park, FL; Columbus, GA; Valdosta, GA; Davenport, IA; Waterloo, IA; Elmhurst, IL; Columbia, MD; Fair Grove, MO; Jefferson City, MO; Columbus, OH; Edmond, OK; Jackson, TN; Memphis, TN; Cedar Park, TX; Dallas, TX; Fort Worth, TX; The Colony, TX; and Virginia Beach, VA.

 

 

Note 2.

Includes mortgages payable secured by 62 properties, but excludes unamortized net debt premiums of $5.9 million.

 

 

 

 

Note 3.

 

 

The aggregate cost for federal income tax purposes for Realty Income Corporation is $14,998,669,583 and for Crest Net Lease, Inc. is $20,376,778.

 

 

 

 

 

Note 4.

The following is a reconciliation of total real estate carrying value for the years ended December 31:

2017

2016

2015

 

 

 

 

 

 

Balance at Beginning of Period

13,904,519,436

12,310,846,785

11,172,348,415

 

 

 

 

 

 

Additions During Period:

 

 

 

 

Acquisitions

1,531,960,811

1,857,783,837

1,279,388,017

 

Less amounts allocated to acquired lease intangible assets and liabilities on our Consolidated Balance Sheets

(238,556,294)

(139,341,205)

(63,808,207)

 

Equipment

0

0

0

 

Improvements, Etc.

11,067,322

16,405,486

10,803,029

 

Other (Leasing Costs and Building Adjustments as a result of net debt premiums)

1,584,152

1,495,439

748,126

 

 

 

 

 

 

Total Additions

1,306,055,991

1,736,343,557

1,227,130,965

 

 

 

 

 

 

Deductions During Period:

 

 

 

 

Cost of Real Estate sold or disposed of

150,394,756

118,792,948

76,659,381

 

Cost of Equipment sold

0

0

0

 

Releasing costs

109,986

418,772

592,815

 

Other (including Provisions for Impairment)

33,027,270

23,459,186

11,380,399

 

 

 

 

 

 

Total Deductions

183,532,012

142,670,906

88,632,595

 

 

 

 

 

 

Balance at Close of Period

15,027,043,415

13,904,519,436

12,310,846,785

 

 

 

 

 

Note 5.

The following is a reconciliation of accumulated depreciation for the years ended:

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

2,000,728,517

1,691,963,148

1,390,808,700

 

 

 

 

 

 

Additions During Period - Provision for Depreciation

393,415,491

355,030,226

320,512,807

 

 

 

 

 

 

Deductions During Period:

 

 

 

 

Accumulated depreciation of real estate and equipment sold or disposed of

43,599,882

46,264,857

19,358,359

 

 

 

 

 

 

Balance at Close of Period

2,350,544,126

2,000,728,517

1,691,963,148

 

 

 

 

 

Note 6.

In 2017, provisions for impairment were recorded on twenty-six Realty Income properties.

 

 

 

 

In 2016, provisions for impairment were recorded on thirty-nine Realty Income properties.

 

 

 

 

In 2015, provisions for impairment were recorded on fifteen Realty Income properties.

 

 

 

 

 

 

 

 

Note 7.

In accordance with Accounting Standards Codification 410, Asset Retirement and Environmental Obligations, we recorded in aggregate $9,774 in 2017, $6,525 in 2016, and negative $820,166 in 2015 to two buildings for the fair value of legal obligations to perform asset-retirement activities that are conditional on future events. These two properties are reported in the drug store industry and are located in Girard, PA and Slippery Rock, PA.

 

 

 

 

 

 

See report of independent registered public accounting firm.