of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Results of Operations and Financial Condition

of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Other Events On January 29, 2026, we acquired a 637,633 square foot portfolio of ten industrial properties for $56.7 million. The properties are fully-leased to six tenants – Mondelez Global, Husqvarna U.S. Holdings, L&W Supply Corporation, Owens & Minor Distribution, Bimbo Bakeries USA, and HABE USA. The tenants have averaged more than 16 years at these properties, the weighted average remaining lease term is 3.1 years. The contracted for base rent for the 12 months ending January 31, 2027 i…

of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Other Events On or about September 10, 2025, we and our ground lease tenant entered into a contract to sell the entire collective interest in The Vue, a multi-family project located in Beachwood, Ohio, and in connection therewith, the buyer deposited $2.5 million into escrow. We have not generated any rental income from this property for the past several years. We expect that this transaction will be completed in the fourth quarter of 2025, and (i) estimate that net proceeds to us will range…

of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Results of Operations and Financial Condition

Other Events During the second quarter of 2025, a consolidated joint venture in which we hold a 90% interest entered into definitive agreements to sell the Marston Park Plaza Shopping Center in Lakewood, Colorado, for $21.4 million. Upon closing these transactions, we expect to realize net proceeds of approximately $12 million and generate an aggregate gain of approximately $5.0 million. In 2024, these assets generated $2.2 million in rental income, and incurred $853,000 in real estate operat…

of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Other Events On November 19, 2024 we entered into an agreement to acquire two industrial properties located in Theodore, Alabama for $49 million. The two properties comprise an aggregate of 371,586 square feet and are located on approximately 31 acres. Each property has one building which is leased to two tenants. The aggregate annual base rent is approximately $3.1 million, with annual rental increases generally ranging from 2.3% to 3.5%, and the weighted average remaining lease term is appr…

of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Results of Operations and Financial Condition

of Form 8-K and are not to be considered "filed" under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Other Events Contracted for Purchase On June 13, 2024, we entered into a contract to acquire an approximate 302,000 square foot recently constructed industrial building located on approximately 16 acres near Omaha, Nebraska for $33.0 million. The current aggregate base rent of the several tenants at the property is approximately $2.2 million (with annual increases ranging from 1.9% to 3.25% beginning in late 2024/early 2025), and the remaining weighted average lease term is 4.7 years. The ten…

of Form 8-K and are not to be considered "filed" under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Results of Operations and Financial Condition

of Form 8-K and are not to be considered "filed" under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Other Events. Sale of Manahawkin, NJ property We indicated in our Current Report on Form 8-K filed on September 8, 2023 and our Quarterly Report on Form 10-Q for the period ended September 30, 2023, that a venture in which we have a 50% equity interest had entered into an agreement to sell a multi-tenant shopping center in Manahawkin, NJ. On December 15, 2023, the venture completed the sale of this property for a sales price of $36.5 million. Our share of the net proceeds from the sale, after…

Other Events. Completed Property Sales We indicated in our Quarterly Report on Form 10-Q for the period ended September 30, 2023 (the “Quarterly Report”) that we anticipate completing certain property sales. Set forth below is information regarding properties sold subsequent to November 6, 2023 (the “Completed Sales”) (dollars in thousands): Nine Months Ended Estimated September 30, 2023 Gross Gain on Sale of Rental Operating Description of Property Date Sold Sales Price Real Estate, Net Inco…

of Form 8-K and are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any previous or future filing by the registrant under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Other Information. On or about October 6, 2023, our Board approved a share repurchase plan authorizing us to repurchase up to $10 million of shares of our common stock in the open market or privately negotiated transactions (including related party transactions). Since July 1, 2023, the Company, pursuant to its prior repurchase plan, as amended, repurchased approximately $6.3 million of shares.

Entry into a Material Definitive Agreement. On September 21, 2023 (the “Commencement Date”), we entered into an Equity Distribution Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (the “Sales Agent”), to sell shares of our common stock, par value $0.01 per share (the “Shares”) having an aggregate sales price of up to $50 million, from time to time, through or to the Sales Agent, acting as agent or principal. The sales, if any, of the Shares made under the Sales Agreement will…