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Investment in Real Estate | 9 Months Ended
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Sep. 30, 2022
Real Estate [Abstract] |
Investment in Real Estate | Investment in Real Estate Acquisitions During the nine months ended September 30, 2022, we acquired ten industrial properties comprised of approximately 0.4 million square feet of GLA and 11 land parcels. We accounted for the properties 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, excluding transaction costs, to each major asset class for the industrial properties and land parcels acquired during the nine months ended September 30, 2022:
Land | $ | 220,634 |
Building and Improvements | 42,982 |
In-Place Leases | 8,664 |
Above Market Leases | 23 |
Below Market Leases | (8,260) |
Other Assets | 2,867 |
Total Purchase Price | $ | 266,910 |
Sales During the nine months ended September 30, 2022, we sold eight industrial buildings comprised of approximately 1.6 million square feet of GLA and one land parcel. Gross proceeds from the sales was $124,340 and the gain on sale of real estate attributable to these sales was $84,204.

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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 https://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 https://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 https://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 https://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 https://asc.fasb.org/topic&trid=2134617 + Details
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