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Commitments And Contingencies | 3 Months Ended
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Mar. 31, 2014
Commitments And Contingencies [Abstract] |
Commitments And Contingencies | Note 9. Commitments and Contingencies Contractual Commitments. As of May 12, 2014, the Company had five outstanding contracts with third-party sellers to acquire five industrial properties consisting of 494,726 square feet. There is no assurance that the Company will acquire the properties under contract because the proposed acquisitions are subject to the completion of satisfactory due diligence, various closing conditions and with respect to one of the properties, the consent of the mortgage lender. The following table summarizes certain information with respect to the properties the Company has under contract 1:
Market |  | Number of Buildings |  | Square Feet |  |  | Purchase Price (in thousands) |  |  | Assumed Debt (in thousands)
Los Angeles |  | 2 |  | 113,497 |  | $ | 11,835 |  | $ | -
Northern New Jersey/New York City |  | - |  | - |  |  | - |  |  | -
San Francisco Bay Area |  | 3 |  | 129,279 |  |  | 13,328 |  |  | -
Seattle |  | 1 |  | 113,170 |  |  | 10,025 |  |  | 5,813
Miami |  | - |  | - |  |  | - |  |  | -
Washington, D.C./Baltimore |  | 1 |  | 138,780 |  |  | 18,050 |  |  | -
Total |  | 7 |  | 494,726 |  | $ | 53,238 |  | $ | 5,813
1 Excludes unfunded capital commitments of $7.5 million to expand an existing 413,000 square foot facility by approximately 190,000 square feet. As of May 12, 2014, the Company has executed four non-binding letters of intent with third-party sellers to acquire four industrial properties consisting of 255,070 square feet. The total purchase price for these industrial properties is approximately $27.8 million. In the normal course of its business, the Company enters into non-binding letters of intent to purchase properties from third parties that may obligate the Company to make payments or perform other obligations upon the occurrence of certain events, including the execution of a purchase and sale agreement and satisfactory completion of various due diligence matters. There can be no assurance that the Company will enter into purchase and sale agreements with respect to these properties or otherwise complete any such prospective purchases on the terms described or at all.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 14 -Paragraph 3 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 9, 10, 11, 12 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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