Third Quarter 2023 Results

Net Income Attributable to Common Stockholders of $1.07 Per Diluted Share for Third Quarter 2023 Compared to $0.87 Per Diluted Share for Third Quarter 2022Funds from Operations ("FFO") of $2.00 Per Share for Third Quarter 2023 Compared to $1.77 Per Share for Third Quarter 2022, an Increase of 13.0%FFO Excluding Gain on Involuntary Conversion and Business Interruption Claims ($0.05 Per Share in Third Quarter 2023) of $1.95 Per Share Compared to $1.77 Per Share for the Same Quarter Last Year, an Increase of 10.2%Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations Increased 6.0% on a Straight-Line Basis and 6.9% on a Cash Basis for Third Quarter 2023 Compared to the Same Period in 2022Operating Portfolio was 98.5% Leased and 97.7% Occupied as of September 30, 2023; Average Occupancy of Operating Portfolio was 97.7% for Third Quarter 2023 as Compared to 98.3% for Third Quarter 2022Rental Rates on New and Renewal Leases Increased an Average of 55.4% on a Straight-Line BasisAcquired an Operating Property Containing 254,000 Square Feet for Approximately $53 MillionAcquired 93.4 Acres of Development Land for Approximately $27 MillionStarted Construction of Three Development Projects Containing 793,000 Square Feet with Projected Total Costs of Approximately $132 MillionTransferred Six Development and Value-Add Projects Totaling 1,134,000 Square Feet to the Operating Portfolio, which are Collectively 93% LeasedDevelopment and Value-Add Program Consisted of 18 Projects in 12 Markets (3.9 Million Square Feet) at September 30, 2023 with a Projected Total Investment of Approximately $548 MillionDeclared 175th Consecutive Quarterly Cash Dividend: $1.27 Per Share. Projected Total Dividends Per Share for 2023 are Expected to Increase 7.2% as Compared to 2022Repaid $50 Million of Unsecured Debt at Maturity with a Fixed Interest Rate of 3.8%Repaid a Mortgage with a Principal Balance of Approximately $2 Million and a Fixed Interest Rate of 3.9%, Leaving No Remaining Secured Debt in the PortfolioRefinanced a $100 Million Senior Unsecured Term Loan with Five Years Remaining, Reducing the Effective Fixed Interest Rate by 45 Basis Points to 2.61%Sold 931,418 Shares of Common Stock Pursuant to the Company's Continuous Common Equity Offering Program at a Weighted Average Price of $177.14 Per Share for Aggregate Net Proceeds of Approximately $163 Million