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Investment in Real Estate (Tables) | 3 Months Ended
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Mar. 31, 2013
Investment in Real Estate [Abstract] |
Summary Regarding Industrial Properties Included in Discontinued Operations | The following table discloses certain information regarding the industrial properties included in discontinued operations for the three months ended March 31, 2013 and 2012:
| Three Months Ended March 31, 2013 |  | Three Months Ended March 31, 2012
Total Revenues | $ | 1,009 |  |  | $ | 4,015 |
Property Expenses | (244 | ) |  | (1,674 | )
Impairment of Real Estate | — |  |  | (1,410 | )
Depreciation and Amortization | (318 | ) |  | (1,060 | )
(Loss) Gain on Sale of Real Estate | (3,074 | ) |  | 6,199 |
(Loss) Income from Discontinued Operations | $ | (2,627 | ) |  | $ | 6,070 |
Net Non-Cash Impairment Charges | During the three months ended March 31, 2012, we recorded the following net non-cash impairment charges:
| Three Months Ended March 31, 2013 |  | Three Months Ended March 31, 2012
Sold Operating Properties—Discontinued Operations | $ | — |  |  | $ | 1,410 |
Held for Use Operating Properties—Continuing Operations | — |  |  | (164 | )
Total Net Impairment | $ | — |  |  | $ | 1,246 |
Fair Value Measurements on a Nonrecurring Basis | The following table presents information about our real estate assets that were measured at fair value on a non-recurring basis during the three months ended March 31, 2012. The table indicates the fair value hierarchy of the valuation techniques we utilized to determine fair value.
|  |  | 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 or Sold* | $ | 28,457 |  |  | — |  |  | — |  |  | $ | 28,457 |  |  | $ | (1,511 | )
Long-lived Assets Held and Used* | $ | 8,303 |  |  | — |  |  | — |  |  | $ | 8,303 |  |  | (39 | )
|  |  |  |  |  |  |  |  | $ | (1,550 | )
_____________________ |  |  |  |  |  |  |  |  |
* 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.
Quantitative Information about Level 3 Fair Value Measurements | The following table presents quantitative information about the Level 3 fair value measurements at March 31, 2012.
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%
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 portfolios whereby the letter of intent pricing relates to the respective 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 shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + 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 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + 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 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 2: 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=8077374&loc=d3e2443-110228 Reference 3: 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 4: 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 5: 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 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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