Concentrations Risk |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Risks and Uncertainties [Abstract] | |
| Concentrations Risk | 14. Concentrations Risk Concentrations of credit risk arise for us when multiple of our tenants are engaged in similar business activities, are located in the same geographic region or have similar economic features that impact in a similar manner their ability to meet contractual obligations, including obligations owed to us. We regularly monitor our tenant base to assess potential concentrations of credit risk. As stated in Note 1 above, we lease commercial space to the U.S. Government or non-governmental tenants. At March 31, 2026, the U.S. Government accounted for approximately 86.2% of our total annualized lease income, state and local government tenants accounted for approximately 8.4% of our annualized lease income and non-governmental tenants accounted for the remaining approximately 5.4%. Seventeen of our 106 wholly-owned and unconsolidated operating properties are located in California, accounting for approximately 12.9% of our total leased square feet and approximately 16.7% of our total annualized lease income as of March 31, 2026. To the extent that weak economic or real estate conditions or natural disasters affect California more severely than other areas of the country, our business, financial condition and results of operations could be significantly impacted. |