One Liberty Properties Inc (NYSE: OLP) is a self-administered and self-managed real estate investment trust that acquires, owns, and manages a geographically diversified portfolio consisting primarily of industrial properties. Revenue comes from net rental income collected under leases across its property portfolio, supplemented by lease termination fees and gains on property sales. As of February 1, 2026, after acquiring ten industrial properties in January 2026, OLP owns 113 properties totaling approximately 12.5 million square feet, including 79 industrial properties with approximately 11.0 million square feet. Industrial properties are anticipated to generate approximately 81.6% of 2026 base rent. The remaining portfolio includes retail, restaurant, veterinary hospital, and ground-leased properties. OLP is structured as a REIT, requiring distribution of at least 90% of annual ordinary taxable income to stockholders. The company is affiliated with Gould Investors L.P., BRT Apartments Corp. (NYSE: BRT), and Majestic Property Management LLC through shared executive personnel and ownership.

Revenue model

Net rental income from leases across industrial and other commercial properties, supplemented by lease termination fees, gains on sale of real estate, and equity in earnings from unconsolidated joint ventures.

Products and services

Industrial property leasing, retail property leasing, net lease arrangements, non-recourse mortgage financing on individual properties, joint venture property investments.

Customers and end markets

Commercial tenants across industrial, retail, restaurant, veterinary, and multi-unit residential ground-lease end markets. Portfolio includes multi-tenant properties (community shopping centers, properties with two to five tenants) and single-tenant net-leased assets.

Value-chain role

Property owner and landlord. Acquires, finances, and manages real property assets, then leases space to commercial tenants. Uses a revolving credit facility (expiring December 31, 2026) and non-recourse property-level mortgage debt to fund acquisitions and operations.

Geographic exposure

Geographically diversified across the United States, with properties in multiple states including North Carolina and Virginia among disclosed locations (per 10-K filed 2026-03-06).

Source: SEC 10-K, filed 2026-03-06

Industry: Real Estate Investment Trusts Peers: Alpine Income Property Trust Inc American Healthcare REIT Inc Belpointe PREP LLC W.p. Carey Inc CTO Realty Growth Inc Gladstone Commercial Corp NexPoint Diversified Real Estate Trust Safehold Inc Pacific Oak Strategic Opportunity REIT, Inc.