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Investment in Real Estate (Tables) | 6 Months Ended
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Jun. 30, 2014
Real Estate Investment Property, Net [Abstract] |
Summary of Acquisition Purchase Price Allocation | The purchase price of the industrial properties and land parcels acquired was allocated as follows:
| Six Months Ended June 30, 2014
Land | $ | 7,695 |
Building and Improvements | 16,946 |
Other Assets | 897 |
Deferred Leasing Intangibles, Net | 5,563 |
Total Purchase Price | $ | 31,101 |
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, a below market ground lease obligation and above and below market leases recorded due to the real estate properties acquired for the six months ended June 30, 2014, which are recorded as deferred leasing intangibles, are as follows:
| Six Months Ended June 30, 2014
In-Place Leases | $ | 2,660 |
Tenant Relationships | $ | 1,620 |
Above Market Leases | $ | 219 |
Below Market Ground Lease Obligation | $ | 1,854 |
Below Market Leases | $ | (790 | )
The weighted average life, in months, of in-place leases, tenant relationships, a below market ground lease obligation and above and below market leases recorded at the time of acquisition as a result of the real estate properties acquired for the six months ended June 30, 2014 is as follows:
| Six Months Ended June 30, 2014
In-Place Leases | 71
Tenant Relationships | 130
Above Market Leases | 83
Below Market Ground Lease Obligation | 480
Below Market Leases | 71
Summary of Industrial Properties Included in Discontinued Operations | The following table discloses certain information regarding the industrial properties included in our discontinued operations for the three and six months ended June 30, 2014 and 2013:
| Three Months Ended June 30, 2014 |  | Three Months Ended June 30, 2013 |  | Six Months Ended June 30, 2014 |  | Six Months Ended June 30, 2013
Total Revenues | $ | 180 |  |  | $ | 3,456 |  |  | $ | 356 |  |  | $ | 7,302 |
Property Expenses | 161 |  |  | (1,447 | ) |  | 114 |  |  | (3,031 | )
Impairment of Real Estate | — |  |  | (1,605 | ) |  | — |  |  | (1,605 | )
Depreciation and Other Amortization | (63 | ) |  | (1,168 | ) |  | (146 | ) |  | (2,569 | )
Gain on Sale of Real Estate | 320 |  |  | 13,481 |  |  | 1,055 |  |  | 10,407 |
Income from Discontinued Operations | $ | 598 |  |  | $ | 12,717 |  |  | $ | 1,379 |  |  | $ | 10,504 |
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 and for which impairment charges were recorded during the six months ended June 30, 2013. 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 | At June 30, 2013 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Unobservable Inputs (Level 3) |  | Total Impairment for the Six Months Ended
Sold Operating Properties | $ | 6,993 |  |  | — |  |  | — |  |  | $ | 6,993 |  |  | $ | (1,605 | )
Quantitative Information about Level 3 Fair Value Measurements | The following table presents quantitative information about the Level 3 fair value measurements at June 30, 2013.
Quantitative Information about Level 3 Fair Value Measurements:
Description |  | Fair Value |  | Valuation Technique |  | Unobservable Inputs |  | Range
Four industrial properties comprising approximately 0.3 million square feet of GLA |  | $ | 6,993 |  |  | Contracted Price |  | (A) |  | N/A
(A) | The fair value for the properties was based upon the value of a third party purchase contract or letter of intent, which was subject to our corroboration for reasonableness.

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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 Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25499696&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=25499696&loc=d3e19207-110258 + 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 Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463 + 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 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: 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 3: 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 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=8077374&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 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 + Details
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