Cole Credit Property Trust V, Inc. (the "Company," "we," "our" or "us") is a non-exchange traded REIT formed as a Maryland corporation on December 12, 2012. We elected to be taxed, and currently qualify, as a REIT for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2014. We operate a diversified portfolio of core commercial real estate assets primarily consisting of net leased properties located throughout the United States. As of December 31, 2018, we owned 141 properties, comprising 3.5 million rentable square feet of commercial space located in 34 states. As of December 31, 2018, the rentable square feet at these properties was 98.8% leased, including month-to-month agreements, if any.
Substantially all of our business is conducted through our operating partnership, Cole Operating Partnership V, LP, a Delaware limited partnership ("CR V OP"), of which we are the sole general partner and own, directly or indirectly, 100% of the partnership interests.
We are externally managed by Cole REIT Management V, LLC ("CR V Management") (formerly known as Cole REIT Advisors V, LLC), an affiliate of CIM Group, LLC ("CIM"), a vertically-integrated owner and operator of real assets with multidisciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and asset management capabilities, headquartered in Los Angeles, California with offices in Oakland, California; Bethesda, Maryland; Dallas, Texas; New York, New York; Chicago, Illinois; and Phoenix, Arizona. We have no paid employees and rely upon our advisor and its affiliates to provide substantially all of our day-to-day management. Pursuant to an advisory agreement with us, CR V Management is responsible for managing our affairs on a day-to-day basis and for identifying and making acquisitions and investments on our behalf. Pursuant to the advisory agreement, CR V Management has fiduciary obligations to us and our stockholders. Our advisory agreement with CR V Management is for a one-year term and is considered for renewal on an annual basis by our board of directors (our "Board").