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Investment in Real Estate | 6 Months Ended
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Jun. 30, 2021
Real Estate [Abstract] |
Investment in Real Estate | Investment in Real Estate Acquisitions During the six months ended June 30, 2021, we acquired three industrial properties comprised of approximately 0.2 million square feet of GLA and five land parcels, one of which was acquired from our Joint Venture I (see Note 5). We accounted for the property and land parcels as asset acquisitions and therefore capitalized transaction costs to the basis of the acquired assets. The following table summarizes the allocation of the aggregate purchase price to each major asset class for the industrial properties and land parcels acquired during the six months ended June 30, 2021:
Land | $ | 120,640 |
Building and Improvements/Construction in Progress | 23,977 |
In-Place Leases | 789 |
Other Assets | 1,592 |
Total Purchase Price | $ | 146,998 |
The revenue and net income associated with the acquisition of the industrial properties and land parcels, since their respective acquisition dates, are not significant to the six months ended June 30, 2021. Real Estate Held for Sale As of June 30, 2021, we had four industrial properties and two industrial condominium units comprised of approximately 0.1 million square feet of GLA held for sale. Sales During the six months ended June 30, 2021, we sold six industrial properties and three industrial condominium units comprised of approximately 1.5 million square feet of GLA and one land parcel. Gross proceeds from the sales were $104,372. The gain on sale of real estate attributable to these sales was $57,499.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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