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Investment in Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2017
Real Estate [Abstract] |
Summary of Industrial Property Acquisitions | The following table summarizes our acquisition of industrial properties from third parties for the years ended December 31, 2017, 2016 and 2015. The revenue and net income associated with the acquisition of the industrial properties, since their respective acquisition dates, are not significant for years ended December 31, 2017, 2016 or 2015.
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Number of Industrial Properties Acquired | 8 |  |  | 6 |  |  | 8 |
GLA (in millions) | 1.1 |  |  | 0.7 |  |  | 1.9 |
Purchase Price (A) | $ | 174,209 |  |  | $ | 111,130 |  |  | $ | 169,218 |
(A) Purchase price includes the acquisition of several land parcels for the years ended December 31, 2017, 2016 and 2015 and excludes closing costs incurred with the acquisition of the industrial properties and land parcels.
Summary of Acquisition Purchase Price Allocation | 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 years ended December 31, 2017 and 2016:
| Year Ended December 31,
| 2017 |  | 2016
Land | $ | 92,810 |  |  | $ | 70,380 |
Building and Improvements | 73,028 |  |  | 37,031 |
Other Assets | 1,659 |  |  | 781 |
In-Place Leases | 7,905 |  |  | 3,253 |
Above Market Leases | 227 |  |  | 214 |
Below Market Leases | (1,420 | ) |  | — |
Assumed Mortgage Loan Premium (See Note 4) | — |  |  | (529 | )
Total Purchase Price | $ | 174,209 |  |  | $ | 111,130 |
Assumed Mortgage Loan (See Note 4) | — |  |  | (4,513 | )
Total Net Assets Acquired | $ | 174,209 |  |  | $ | 106,617 |
Summary of Industrial Property Dispositions | The following table summarizes our property dispositions for the years ended December 31, 2017, 2016 and 2015:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Number of Industrial Properties Sold | 60 |  |  | 63 |  |  | 66 |
GLA (in millions) | 4.6 |  |  | 3.9 |  |  | 3.8 |
Gross Proceeds from the Sale of Real Estate (A) | $ | 236,059 |  |  | $ | 169,911 |  |  | $ | 158,429 |
Gain on Sale of Real Estate (A) | $ | 131,269 |  |  | $ | 68,202 |  |  | $ | 48,906 |
(A) Gross proceeds and gain on sale of real estate includes the sale of several land parcels for the years ended December 31, 2017 and 2015.

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- Definition Schedule of Dispositions of Industrial Properties [Table Text Block] + References No definition available. + Details
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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
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