SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events until the date the accompanying unaudited condensed consolidated financial statements are issued. Significant subsequent events are described below: Preferred Dividends On October 15, 2024, the Company paid its Series A Preferred Stock dividends of $921,875 for the third quarter of 2024, which were declared by the Company’s board of directors on July 31, 2024. On November 4, 2024, the Company’s board of directors declared Series A Preferred Stock dividends payable of $921,875 for the fourth quarter of 2024, which are scheduled to be paid on January 15, 2025. Common Stock and Class C OP Unit Distributions On October 25, 2024, the Company paid its monthly distributions of $0.095833 per share to common stockholders and Class C OP Unit holders of record as of September 30, 2024, which were authorized by the Company's board of directors on May 1, 2024. On July 31, 2024, the Company’s board of directors authorized monthly distributions payable to common stockholders and Class C OP Unit holders of record as of October 31, 2024, November 29, 2024 and December 31, 2024, which will paid on or about November 25, 2024, December 24, 2024 and January 27, 2025, respectively. The monthly distribution amount of $0.095833 per share represents an annualized distribution rate of $1.15 per share of common stock. On November 4, 2024, the Company’s board of directors authorized a 1.7% increase in the annual distribution rate from $1.15 per share to $1.17 per share commencing with monthly distributions payable to common stockholders and Class C OP Unit holders of record as of January 31, 2025, February 28, 2025 and March 31, 2025, which will be paid on or about February 25, 2025, March 25, 2025 and April 25, 2025, respectively. On November 4, 2024, the Company, with the authorization of the board of directors of the Company, increased the discount for the purchase price of shares of Class C Common Stock under the Company’s DRP from 3% to 5%, which will go into effect on December 7, 2024. ATM Offering From October 1, 2024 through October 15, 2024, the Company sold and issued 81,236 shares of Class C Common Stock at an average price of $16.26 for $1,291,619 net of sales commissions of $29,055, in connection with the ATM Offering. Lease Extension On October 31, 2024, the Company received a notice from Labcorp that it is exercising its first option to extend its lease on the Company’s San Carlos, California property for an additional five years, from November 1, 2025 through October 31, 2030 with annual rate increases of 2.00%. Labcorp has one remaining option to extend its lease for an additional five years. Real Estate Acquisition On October 31, 2024, the Company entered into an agreement to acquire an industrial property through an “UPREIT” transaction wherein the contributor is scheduled to receive 358,824 Class C OP Units valued at $6,100,000, based on an agreed upon value of $17.00 per Class C OP Unit. The property is located in the Jacksonville, Florida metropolitan statistical area and is subject to an existing lease that expires on December 31, 2032, with annual rent escalations based on the consumer price index. The tenant, Science Interactive Group, LLC, specializes in educational science equipment, providing resources designed to support hands-on learning for students from K-12 to higher education. The Company priced this transaction at an 8.00% cap rate in conjunction with a rent increase effective July 1, 2025. The transaction remains subject to completion of due diligence and customary closing conditions. The contributor is not affiliated with the Company or its affiliates.