As of December 31, 2000, we owned a diversified portfolio of 1,068 properties located in 46 states with over 9.0 million square feet of leasable space. In addition to our real estate portfolio, our subsidiary, Crest Net Lease, owned seven properties. Our property portfolio is leased to 72 retail chains doing business in 23 retail industries. At December 31, 2000, 1,038 or 97.2% of the 1,068 properties were under net-lease agreements. Net leases typically require the tenant to be responsible for minimum monthly rent and property operating expenses including property taxes, insurance and maintenance plus, typically, future rent increases (generally subject to ceilings) based on increases in the consumer price index, fixed increases or additional rent calculated as a percentage of the tenant's gross sales above a specified level.

Our net-leased retail properties are primarily leased to regional and national retail chain store operators. The average leasable retail space of the 1,068 properties is approximately 8,400 square feet on approximately 60,200 square feet of land. Generally, buildings are single-story properties with adequate parking on site to accommodate peak retail traffic periods. The properties tend to be on major thoroughfares with relatively high traffic counts and adequate access, egress and proximity to a sufficient population base to constitute a suitable market or trade area for the retailer's business.

The following table sets forth certain information regarding our 1,068 properties classified according to the business of the respective tenants: