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Investment in Real Estate (Tables) | 3 Months Ended
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Mar. 31, 2012
Investment in Real Estate [Abstract] |
Summary of intangible assets subject to amortization in the period of acquisition |
|  | Three Months Ended March 31, 2012 |  |  | Three Months Ended March 31, 2011 |
In-Place Leases |  | $ | 1,750 |  |  |  | N/A |
Tenant Relationships |  | $ | 1,012 |  |  |  | N/A |
Below Market Leases |  | $ | (102 | ) |  |  | N/A |
|  | Three Months Ended March 31, 2012 |  |  | Three Months Ended March 31, 2011 |
In-Place Leases |  |  | 118 |  |  |  | N/A |
Tenant Relationships |  |  | 178 |  |  |  | N/A |
Below Market Leases |  |  | 118 |  |  |  | N/A |
Summary regarding the industrial properties included in our discontinued operations |
|  | Three Months Ended March 31, 2012 |  |  | Three Months Ended March 31, 2011 |
Total Revenues |  | $ | 1,848 |  |  | $ | 4,522 |
Property Expenses |  |  | (773 | ) |  |  | (1,996 | )
Impairment of Real Estate |  |  | (1,260 | ) |  |  | (2,727 | )
Depreciation and Amortization |  |  | (129 | ) |  |  | (864 | )
Interest Expense |  |  | — |  |  |  | (63 | )
Gain on Sale of Real Estate |  |  | 6,199 |  |  |  | 3,804 |
Provision for Income Taxes |  |  | — |  |  |  | (509 | )
Income from Discontinued Operations |  | $ | 5,885 |  |  | $ | 2,167 |
Net non-cash impairment charges |
|  | Three Months Ended March 31, 2012 |  |  | Three Months Ended March 31, 2011 |
Operating Properties—Held for Sale and Sold Assets |  | $ | 1,260 |  |  | $ | 2,727 |
Impairment—Discontinued Operations |  | $ | 1,260 |  |  | $ | 2,727 |
Land Parcels—Held for Sale and Sold Assets |  | $ | — |  |  | $ | — |
Operating Properties—Held for Use |  |  | (14 | ) |  |  | (2,184 | )
Land Parcels—Held for Use |  |  | — |  |  |  | (595 | )
Impairment—Continuing Operations |  | $ | (14 | ) |  | $ | (2,779 | )
Total Net Impairment |  | $ | 1,246 |  |  | $ | (52 | )
Fair Value Measurements on a Non-Recurring Basis |
|  |  |  |  | Fair Value Measurements on a Non-Recurring Basis Using: |  |  |  |
Description |  | Three Months Ended March 31, 2012 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Unobservable Inputs (Level 3) |  |  | Total Impairment |
Long-lived Assets Held for Sale* |  | $ | 20,470 |  |  |  | — |  |  |  | — |  |  | $ | 20,470 |  |  | $ | (1,360 | )
Long-lived Assets Held and Used* |  | $ | 16,290 |  |  |  | — |  |  |  | — |  |  | $ | 16,290 |  |  |  | (190 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,550 | )
|  |  |  |  | Fair Value Measurements on a Non-Recurring Basis Using: |  |  |  |
Description |  | Three Months Ended March 31, 2011 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Unobservable Inputs (Level 3) |  |  | Total Impairment |
Long-lived Assets Held for Sale** |  | $ | 42,945 |  |  |  | — |  |  |  | — |  |  | $ | 42,945 |  |  | $ | (2,755 | )
Long-lived Assets Held and Used** |  | $ | 95,120 |  |  |  | — |  |  |  | — |  |  | $ | 95,120 |  |  |  | 1,894 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (861 | )
* | Excludes industrial properties for which an impairment reversal of $304 was recorded during the three months ended March 31, 2012, since the related assets are recorded at carrying value, which is lower than estimated fair value at March 31, 2012.
** | Excludes industrial properties and land parcels for which an impairment reversal of $913 was recorded during the three months ended March 31, 2011, since the related assets are recorded at carrying value, which is lower than estimated fair value at March 31, 2011.
Quantitative information about Level 3 fair value measurements |
Quantitative Information about Level 3 Fair Value Measurements:
Description |  | Fair Value at March 31, 2012 |  |  | Valuation Technique |  | Unobservable Inputs |  | Range
One Industrial Property comprising approximately 0.01 million square feet of GLA |  | $ | 585 |  |  | Discounted Cash Flow |  | Discount Rate |  | 11.75%
|  |  |  |  |  |  |  | Market Rent Growth Rate |  | 2%
|  |  |  |  |  |  |  | Expense Growth Rate |  | 2%
|  |  |  |  |  |  |  | Rental Rates Per Square Foot (A) |  | $4.25
|  |  |  |  |  |  |  | Terminal Capitalization Rate |  | 10.00%
Fourteen Industrial Properties comprising approximately 2.1 million square feet of GLA |  | $ | 36,175 |  |  | 3 rd Party Pricing |  | (B) |  | N/A
(A) | Estimates for market rental rates upon stabilization of the property.
(B) | The fair value for the properties is based upon the value of either a third party purchase contract or third party letters of intent, both of which are subject to our corroboration for reasonableness. Certain of the properties are included in a portfolio whereby the letter of intent pricing related to the portfolio. The estimated purchase price for the portfolio was allocated to the individual properties within the portfolio based upon their relative fair value.

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- Definition Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43, 44, 45, 47, 48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6390789&loc=d3e2443-110228 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 + Details
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