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Investment in Real Estate | 12 Months Ended
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Dec. 31, 2022
Real Estate [Abstract] |
Investment in Real Estate | Investment in Real Estate Acquisitions The following table summarizes our acquisition of industrial properties and land parcels for the years ended December 31, 2022, 2021 and 2020. We accounted for the properties and land parcels as asset acquisitions and therefore capitalized transaction costs to the basis of the acquired assets. 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, 2022, 2021 or 2020.
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Number of Industrial Properties Acquired | 11 |  |  | 4 |  |  | 8 |
GLA (in millions) | 0.5 |  |  | 0.2 |  |  | 1.5 |
Purchase Price of Industrial Properties Acquired | $ | 137,126 |  |  | $ | 38,727 |  |  | $ | 154,410 |
Purchase Price of Income Producing Land Parcels Acquired (A) | 56,525 |  |  | — |  |  | — |
Purchase Price of Land Parcels Acquired (B) | 105,486 |  |  | 302,223 |  |  | 69,617 |
Total Purchase Price (C) | $ | 299,137 |  |  | $ | 340,950 |  |  | $ | 224,027 |
(A) For the year ended December 31, 2022, includes $11,676, $1,577, $3,850 and ($4,950) allocated to building improvements/construction in progress, other assets, in-place leases and below market leases, respectively. (B) For the year ended December 31, 2021, includes $3,857, $1,434 and $183 allocated to building improvements/construction in progress, other assets and in-place leases, respectively. (C) Purchase price excludes closing costs. 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, 2022 and 2021:
| Year Ended December 31,
| 2022 |  | 2021
Land | $ | 252,158 |  |  | $ | 309,475 |
Building and Improvements/Construction in Progress | 43,685 |  |  | 28,839 |
Other Assets | 2,975 |  |  | 1,663 |
In-Place Leases | 9,246 |  |  | 973 |
Above Market Leases | 23 |  |  | — |
Below Market Leases | (8,950) |  |  | — |
Total Purchase Price | $ | 299,137 |  |  | $ | 340,950 |
Sales The following table summarizes our property and land dispositions for the years ended December 31, 2022, 2021 and 2020:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Number of Industrial Properties Sold (A) | 9 |  |  | 29 |  |  | 29 |
GLA (in millions)(B) | 2.2 |  |  | 2.9 |  |  | 1.9 |
Gross Proceeds from the Sale of Real Estate (B) | $ | 178,340 |  |  | $ | 243,407 |  |  | $ | 153,351 |
Gain on Sale of Real Estate (B) | $ | 128,268 |  |  | $ | 150,310 |  |  | $ | 86,751 |
(A) Included as one industrial property for each of the years ended December 31, 2021 and 2020 was the sale of multiple industrial condominium units. (B) Gross proceeds and gain on sale of real estate include the sale of one land parcel for each of the years ended December 31, 2022 and 2021.

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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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