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Investment in Real Estate (Tables)

9 Months Ended

Sep. 30, 2012

Summary of Intangible Assets (Liabilities) Subject to Amortization in the Period of Acquisition

The fair value at the date of acquisition of in-place leases, tenant relationships, above market leases and below market leases recorded due to the real estate property acquired during the nine months ended September 30, 2012 and 2011, which is recorded as deferred leasing intangibles, is as follows:

		Nine Months Ended September 30, 2012				Nine Months Ended September 30, 2011
In-Place Leases		$	1,750			$	2,511
Tenant Relationships		$	1,012			$	1,553
Above Market Leases		$	—			$	2,883
Below Market Leases		$	(102	)		$	—

The weighted average life in months of in-place leases, tenant relationships, above market leases and below market leases recorded at the time of acquisition as a result of the real estate property acquired during the nine months ended September 30, 2012 and 2011 is as follows:

		Nine Months Ended September 30, 2012				Nine Months Ended September 30, 2011
In-Place Leases			118				56
Tenant Relationships			178				116
Above Market Leases			N/A				56
Below Market Leases			118				N/A

Summary Regarding Industrial Properties Included in Discontinued Operations

		Three Months Ended September 30, 2012				Three Months Ended September 30, 2011				Nine Months Ended September 30, 2012				Nine Months Ended September 30, 2011
Total Revenues		$	1,778			$	4,271			$	7,121			$	14,394
Property Expenses			(635	)			(1,640	)			(2,852	)			(5,838	)
Impairment of Real Estate			—				(1,387	)			(1,411	)			(4,828	)
Depreciation and Amortization			(137	)			(1,150	)			(1,263	)			(3,320	)
Interest Expense			—				—				—				(63	)
Gain on Sale of Real Estate			4,420				6,010				12,005				13,351
Provision for Income Taxes			—				—				—				(2,048	)
Income from Discontinued Operations		$	5,426			$	6,104			$	13,600			$	11,648

Net Non-Cash Impairment Charges

		Three Months Ended September 30, 2012				Three Months Ended September 30, 2011				Nine Months Ended September 30, 2012				Nine Months Ended September 30, 2011
Operating Properties—Held for Sale and Sold Assets		$	—			$	1,387			$	1,411			$	4,828
Impairment—Discontinued Operations		$	—			$	1,387			$	1,411			$	4,828
Land Parcels—Sold Assets		$	—			$	—			$	—			$	(5,879	)
Operating Properties—Held for Use			—				1,173				(165	)			(617	)
Land Parcels—Held for Use			—				(40	)			—				(635	)
Impairment—Continuing Operations		$	—			$	1,133			$	(165	)		$	(7,131	)
Total Net Impairment		$	—			$	2,520			$	1,246			$	(2,303	)

Fair Value Measurements on Non-Recurring Basis

						Fair Value Measurements on a Non-Recurring Basis Using:
Description		Nine Months Ended September 30, 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 or Sold*		$	25,502				—				—			$	25,502			$	(5,444	)
Long-lived Assets Held and Used*		$	64,604				—				—			$	64,604				(3,369	)
																		$	(8,813	)

* Excludes industrial properties and land parcels for which an impairment reversal of $11,116 was recorded during the nine months ended September 30, 2011, since the related assets are recorded at carrying value, which is lower than estimated fair value at September 30, 2011.

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