GTJ REIT, INC.

New York

103 Fairview Park Drive, Elmsford, NY · Industrial · 112,447 · 5.6

412 Fairview Park Drive, Elmsford, NY (1) · Industrial · 439,956 · 10.1

401 Fieldcrest Drive, Elmsford, NY (1) · Industrial · 313,632 · 7.2

404 Fieldcrest Drive, Elmsford, NY · Industrial · 78,674 · 8.7

199 Ridgewood Drive, Elmsford, NY · Industrial · 28,050 · 5.4

203 Ridgewood Drive, Elmsford, NY · Industrial · 32,000 · 7.0

36 Midland Avenue, Port Chester, NY · Industrial · 79,443 · 3.6

100-110 Midland Avenue, Port Chester, NY · Industrial · 162,444 · 7.5

112 Midland Avenue, Port Chester, NY · Retail · 3,200 · 1.1

8 Slater Street, Port Chester, NY · Industrial · 67,927 · 2.3

165-25 147th Avenue, Jamaica, NY · Industrial · 151,068 · 6.6

114-15 Guy Brewer Boulevard, Jamaica, NY · Industrial · 75,800 · 4.6

49-19 Rockaway Beach Boulevard, Far Rockaway, NY · Industrial · 28,790 · 3.0

23-85 87th Street, East Elmhurst, NY (1) · Industrial · 363,500 · 7.1

85-01 24th Avenue, East Elmhurst, NY · Industrial · 118,430 · 6.4

612 Wortman Avenue, Brooklyn, NY (1) · Industrial · 453,435 · 10.4

28-20 Borden Avenue, Long Island City, NY (1) · Industrial · 83,635 · 1.9

606 Cozine Avenue, Brooklyn, NY · Industrial · 57,786 · 1.3

201 Neelytown Road, Montgomery, NY · Industrial · 248,370 · 43.7

New Jersey

100 American Road, Morris Plains, NJ · Industrial · 127,797 · 7.0

200 American Road, Morris Plains, NJ · Industrial · 45,898 · 6.0

300 American Road, Morris Plains, NJ · Industrial · 84,863 · 10.3

400 American Road, Morris Plains, NJ · Industrial · 93,039 · 9.2

500 American Road, Morris Plains, NJ · Industrial · 98,169 · 11.4

20 East Halsey Road, Parsippany, NJ · Industrial · 60,600 · 7.8

1110 Centennial Avenue, Piscataway, NJ · Industrial · 21,189 · 2.8

11 Constitution Avenue, Piscataway, NJ · Industrial · 60,516 · 5.6

21 Constitution Avenue, Piscataway, NJ · Industrial · 288,140 · 21.1

4 Corporate Place, Piscataway, NJ · Industrial · 151,641 · 8.4

8 Corporate Place, Piscataway, NJ · Industrial · 143,115 · 8.4

1938 Olney Avenue, Cherry Hill, NJ · Industrial · 109,771 · 7.2

Connecticut

466 Bridgeport Avenue, Shelton, CT · Industrial · 46,649 · 4.3

470 Bridgeport Avenue, Shelton, CT · Industrial · 152,610 · 12.8

15 Progress Drive/ 30 Commerce Drive, Shelton, CT · Industrial · 45,000 · 10.0

33 Platt Road, Shelton, CT · Industrial · 125,794 · 21.5

950 Bridgeport Avenue, Milford, CT · Industrial · 104,126 · 5.2

12 Cascade Boulevard, Orange, CT · Industrial · 98,634 · 4.8

15 Executive Boulevard, Orange, CT · Industrial · 112,093 · 5.2

25 Executive Boulevard, Orange, CT · Industrial · 27,151 · 2.8

35 Executive Boulevard, Orange, CT · Industrial · 41,600 · 3.8

22 Marsh Hill Road, Orange, CT · Industrial · 89,630 · 6.4

269 Lambert Road, Orange, CT · Industrial · 102,610 · 6.3

110 Old County Circle, Windsor Locks, CT · Industrial · 226,695 · 15.6

120 Old County Circle, Windsor Locks, CT · Industrial · 83,200 · 7.0

4 Meadow Street, Norwalk, CT · Industrial · 50,460 · 2.9

777 Brook Street, Rocky Hill, CT · Industrial · 92,500 · 12.1

Delaware

300 McIntire Drive, Newark, DE · Industrial · 208,656 · 12.4

North Carolina

1000 Exchange Street, Charlotte, NC (1) · Industrial · 435,600 · 10.0

9305 Pioneer Avenue, Charlotte, NC (1) · Industrial · 233,481 · 5.4

Florida

9111 Cheetos Circle, Fort Myers, FL · Industrial · 104,160 · 10.5

2998 Bannon Island Road, Haines City, FL · Industrial · 174,000 · 39.9

Total · 6,737,974 · 447.6

The square footage reflects the total leased area of land, building or land and building.

Our Leases

Substantially all of our leases are net or ground leases under which the tenant, in addition to its rental obligation, typically is responsible for expenses attributable to the operation of the property, such as real estate taxes and operating costs. The tenant is also generally responsible for maintaining the property and for restoration following a casualty or partial condemnation. The tenant is typically obligated to indemnify us for claims arising from the property and is responsible for maintaining insurance coverage for the property it leases and naming us an additional insured. The Company typically evaluates a tenant’s credit quality by reviewing the tenant’s financial information, rating agency reports and credit reports, when available, and other sources of information that can be useful in determining a tenant’s credit worthiness and financial condition. The Company monitors the tenants’ credit worthiness and financial condition throughout the term of their leases by requiring them to provide financial and other information necessary as per the terms of their respective leases, by reviewing rating agency reports and credit reports, when available and reviewing other available sources of information.

Our typical lease provides for contractual rent increases periodically throughout the term of the lease or for rent increases pursuant to a formula based on the consumer price index. Our policy has been to acquire properties that are subject to existing long-term leases or to enter into long-term leases with our tenants. Our leases generally provide the tenant with one or more renewal options.

The following table sets forth scheduled lease expirations of leases for our properties as of December 31, 2025:

Year of Lease Expiration(1) · Number of Expiring Leases · Square Feet of Expiring Leases · 2026 ContractualRental Income Under ExpiringLeases · Percent of 2026Contractual RentalIncomeRepresented byExpiring Leases

2026 · 8 · 439,185 · 4,061,383 · 6

2027 · 9 · 958,861 · 7,631,583 · 11

2028 · 6 · 751,507 · 10,630,529 · 15

2029 · 4 · 170,433 · 2,659,358 · 4

2030 · 8 · 693,361 · 7,205,813 · 10

2031 · 7 · 616,269 · 6,410,832 · 9

2032 · 5 · 972,304 · 5,079,214 · 7

2033 · 5 · 566,337 · 10,065,553 · 14

2034 · 1 · 104,160 · 2,123,423 · 3

• A number of risks to which our properties may be exposed may not be covered by insurance.
• We may be unable to renew our current leases, lease vacant space, or re-lease space.
• Declining real estate valuations and impairment charges could adversely affect us.
• If we sell a property and provide financing to the purchaser, it may adversely affect our ability to make distributions to stockholders from the sale of the property.
• Disruptions in the financial markets could adversely affect us.
• Our cash and cash equivalents could be adversely affected if financial institutions fail.
• Many real estate costs are fixed, even if income from properties decreases.
• We may be unable to complete development and re-development projects on advantageous terms.
• We are subject to general economic conditions and risks associated with our real estate assets.
• We may become subject to material litigation.
• Eminent domain could lead to material losses on our investments in our properties.
• Terrorist attacks and other acts of violence or war may affect the value of our common stock, the industry in which we conduct our operations and our profitability.
• We face network and system risks including those related to cybersecurity attacks, and the use of artificial intelligence presents risks and challenges.
• Political and economic uncertainty could have an adverse effect on our business.
• Changes to U.S. tariff and import/export regulations may have an adverse effect on our business.
• A pandemic or outbreak of a contagious disease may adversely affect our business and our tenants’ businesses.
• Actions by our competitors may adversely affect the occupancy and rental rates of our properties.
• A property that incurs a vacancy could be difficult to sell or re‑lease.
• We may not have funding for future tenant improvements.
• Bankruptcy laws will limit our remedies if a tenant becomes bankrupt and rejects its lease.
• Environmentally hazardous conditions and climate change may adversely affect our business.
• Our properties are subject to transitional risks related to climate-related policy change.
• We incur costs associated with complying with the Americans with Disabilities Act.
• Our officers and directors may have other interests which may conflict with their duties to us and our stockholders.
• If any deficiencies or material weaknesses exist in our internal control over financial reporting, our financial statements may be adversely affected.
• Our UPREIT structure may result in potential conflicts of interest.
• Our Board of Directors may adopt changes to the valuation procedures and how we calculate our net asset value ("NAV").
• If we set aside insufficient capital reserves, we may be required to defer necessary capital improvements.
• If we enter into long-term leases with tenants, those leases may not result in fair value over time.
• Risks Related to our Common Stock
• The absence of a public market for our common stock will make it difficult for a stockholder to sell shares.
• Our stockholders’ interests may be diluted by issuances under our 2007 Incentive Award Plan and 2017 Incentive Award Plan and other common stock or preferred stock issuances.
• Real estate investments are not as liquid as other types of assets.
• Our stockholders are limited in their ability to sell shares of common stock pursuant to our share redemption program.
• Our stockholders may not be able to sell any shares of common stock pursuant to the share redemption program.
• The actual value of shares that we repurchase under the share redemption program may be substantially less than what we pay.
• Our NAV per share may not reflect the amount that would be realized upon a sale of each of our properties or the precise amount that might be paid to stockholders for their shares in a transaction.
• Tax Risks Related to our Business and Structure
• The requirement to distribute at least 90% of our taxable REIT income may require us to incur debt, sell assets, or issue additional securities for cash.
• If we fail to remain qualified as a REIT for federal income tax purposes, we will not be able to deduct our distributions, and our income will be subject to taxation.
• Dividends payable by REITs do not qualify for the reduced tax rates available for some dividends.
• We may be subject to adverse legislative or regulatory tax changes affecting REITs.
• If the Operating Partnership fails to maintain its status as a partnership for federal income tax purposes, its income would be subject to taxation and our REIT status would be terminated.
• If the Operating Partnership is classified as a “publicly traded partnership” under the Code, our operations and our ability to pay distributions to our stockholders could be adversely affected.
• We would fail to qualify as a REIT if leases of our properties are not respected as true leases for federal income tax purposes.
• The “prohibited transactions” tax may limit our ability to dispose of our properties.
• Distributions to tax-exempt stockholders may be classified as unrelated business taxable income.
• Non-U.S. stockholders may be subject to FIRPTA taxation upon the sale of their shares of our common stock.
• Capital gain distributions to non-U.S. stockholders attributable to sales of U.S. real property may be taxed under FIRPTA.
• Transactions with our taxable REIT subsidiary (“TRS”) could cause us to be subject to a 100% penalty tax.
• Acquisition and Divestiture Risks
• We may be unable to acquire properties on advantageous terms or acquisitions may not perform as expected.
• We may not be able to diversify our real property portfolio due to the number and size of our competitors.
• We have obtained only limited warranties when we purchase properties and may have limited recourse if any issue arises.
• Lack of liquidity of real estate could make it difficult for us to sell properties within our desired time frame.
• We may be unable to sell a property if or when we decide to do so.
• Our inability to identify or find funding for acquisitions could prevent us from diversification or growth.
• Investing in or owning properties through joint ventures creates a risk of loss to us.
• Risks Related to Our Use of Borrowed Funds
• Mortgage and indebtedness could result in material risk to our business if a default occurs, including loss of real property.
• The incurrence of indebtedness for operations will increase expenses which could decrease cash available for dividends.
• Debt financing, the degree of leverage and rising interest rates could reduce our cash flow.
• Prolonged disruptions in the financial markets could adversely affect our ability to obtain financing on reasonable terms.
• Indebtedness secured by our properties may subject our properties to foreclosure in the event of a default.
• Possible Adverse Consequences of Limits on Ownership and Transfer of our Shares
• The stock ownership limitation in our charter will prevent you from acquiring more than 9.9% of our common stock and may force you to sell common stock back to us.
• Anti-takeover Provisions Related to Us
• Limitations on share ownership and transfer may deter a sale of our company in which you could profit.