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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended
--- | --- | --- | ---
Jun. 30, 2024 USD ($) ft² | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) ft² | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) ft²
Asset Acquisition [Line Items] |  |  |  |  |  |
Amortization expense for lease intangibles |  | $ 1,893,000 | $ 2,174,000 | $ 3,819,000 | $ 4,136,000 |
Amortization of above and below market leases |  | 546,000 | $ 696,000 | 1,153,000 | $ 1,295,000 |
Land |  | 850,349,000 |  | 850,349,000 |  | $ 814,364,000
Building and building improvements |  | 3,459,744,000 |  | 3,459,744,000 |  | 3,336,615,000
Tenant and other improvements |  | 711,773,000 |  | 711,773,000 |  | 684,573,000
In-place lease intangibles |  | 41,691,000 |  | 41,691,000 |  | 39,600,000
Below market lease intangibles |  | 11,063,000 |  | 11,063,000 |  | 11,451,000
2024 Acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Land |  | 28,251,000 |  | 28,251,000 |  |
Building and building improvements |  | 69,476,000 |  | 69,476,000 |  |
Tenant and other improvements |  | 4,267,000 |  | 4,267,000 |  |
Total real estate properties acquired |  | 101,994,000 |  | 101,994,000 |  |
In-place lease intangibles | [1] | 6,269,000 |  | 6,269,000 |  |
Below market lease intangibles | [2] | (580,000) |  | (580,000) |  |
Assets acquired, net of liabilities assumed |  | $ 107,804,000 |  | $ 107,804,000 |  |
Weighted average remaining lease term of acquired properties |  | 5 years 10 months 24 days |  | 5 years 10 months 24 days |  |
Above market lease intangibles | [1] | $ 121,000 |  | $ 121,000 |  |
2024 Operating Property Acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] | 505,000 |  | 505,000 |  |
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  | $ 107,804,000 |  |
2024 Operating Property Acquisitions | Spanish Ridge Industrial Park |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] | 231,000 |  | 231,000 |  |
Date Acquired | [3],[4] |  |  | Jan. 23, 2024 |  |
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  | $ 54,859,000 |  |
2024 Operating Property Acquisitions | 147 Exchange |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] | 274,000 |  | 274,000 |  |
Date Acquired | [3],[4] |  |  | May 03, 2024 |  |
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  | $ 52,945,000 |  |
2024 development land acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Acres of real estate investment property | ft² |  | 34.3 |  | 34.3 |  |
Payments to Acquire Land |  |  |  | $ 3,302,000 |  |
2023 Acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Land |  |  |  |  |  | 44,676,000
Building and building improvements |  |  |  |  |  | 111,082,000
Tenant and other improvements |  |  |  |  |  | 4,346,000
Total real estate properties acquired |  |  |  |  |  | 160,104,000
In-place lease intangibles | [1] |  |  |  |  | 7,242,000
Below market lease intangibles | [2] |  |  |  |  | (2,230,000)
Assets acquired, net of liabilities assumed |  |  |  |  |  | $ 165,116,000
Weighted average remaining lease term of acquired properties |  |  |  |  |  | 8 years
2023 Operating Property Acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] |  |  |  |  | 987,000
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  |  |  | $ 165,116,000
2023 Operating Property Acquisitions | Craig Corporate Center |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] |  |  |  |  | 156,000
Date Acquired | [3],[4] |  |  |  |  | Apr. 18, 2023
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  |  |  | $ 34,365,000
2023 Operating Property Acquisitions | Blue Diamond Business Park |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] |  |  |  |  | 254,000
Date Acquired | [3],[4] |  |  |  |  | Sep. 05, 2023
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  |  |  | $ 52,973,000
2023 Operating Property Acquisitions | McKinney Logistics Center |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] |  |  |  |  | 193,000
Date Acquired | [3],[4] |  |  |  |  | Oct. 02, 2023
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  |  |  | $ 25,739,000
2023 Operating Property Acquisitions | Park at Myatt |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] |  |  |  |  | 171,000
Date Acquired | [3],[4] |  |  |  |  | Nov. 03, 2023
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  |  |  | $ 30,793,000
2023 Operating Property Acquisitions | Pelzer Point Commerce Center 1 |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Size (square feet) | ft² | [3],[4] |  |  |  |  | 213,000
Date Acquired | [3],[4] |  |  |  |  | Dec. 21, 2023
Asset Acquisition, Consideration Transferred | [3],[4],[5] |  |  |  |  | $ 21,246,000
2023 development land acquisitions |  |  |  |  |  |
Asset Acquisition [Line Items] |  |  |  |  |  |
Acres of real estate investment property | ft² |  |  |  |  |  | 328.3
Payments to Acquire Land |  |  |  |  |  | $ 70,664,000
[1] | In-place lease intangibles and above market lease intangibles are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
[2] | Below market lease intangibles are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining terms of the associated leases in place at the time of acquisition.
[3] | Excludes acquired development land as discussed below.
[4] | Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets.
[5] | Cost is calculated in accordance with FASB ASC 805, Business Combinations, and represents the sum of the purchase price, closing costs and capitalized acquisition costs.

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- Definition Amount of non-cash amortization of intangible asset (liability) for above and below market leases. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28 + Details
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