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Investment in Real Estate (Tables) | 9 Months Ended
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Sep. 30, 2016
Real Estate [Abstract] |
Summary of the Fair Value of Assets and Liabilities Acquired | The following table summarizes the fair value of amounts recognized for each major class of asset and liability for the industrial properties and land parcels acquired during the nine months ended September 30, 2016:
| Purchase Price |  | Weighted Average Life (in Months)
Land | $ | 66,803 |  |  | N/A
Building and Improvements | 29,303 |  |  | (A)
Other Assets | 495 |  |  | (B)
In-Place Leases | 2,356 |  |  | 88
Above Market Leases | 197 |  |  | 32
Assumed Mortgage Loan Premium (See Note 4) | (529 | ) |  | 44
Total Purchase Price | $ | 98,625 |  |  |
Assumed Mortgage Loan (See Note 4) | (4,513 | ) |  |
Total Net Assets Acquired | $ | 94,112 |  |  |
(A) See Note 2 to the consolidated financial statements in our 2015 Form 10-K for the disclosure of useful lives of our Investment in Real Estate and our Depreciation policy. (B) Represents leasing commissions, which are included in prepaid expenses and other assets, net on the consolidated balance sheets and amortized over the remaining term of each lease.

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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 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: 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=65885119&loc=d3e1392-128463 + Details
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