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Commitments And Contingencies | 3 Months Ended
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Mar. 31, 2015
Commitments And Contingencies [Abstract] |
Commitments And Contingencies | Note 9. Commitments and Contingencies Contractual Commitments. As of May 6, 2015, the Company has three outstanding contracts with third-party sellers to acquire three industrial properties consisting of 438,774 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:
Market |  | Number of Buildings |  | Square Feet |  |  | Purchase Price (in thousands) |  |  | Assumed Debt (in thousands)
Los Angeles |  | - |  | - |  | $ | - |  | $ | -
Northern New Jersey/New York City 1 |  | - |  | - |  |  | 9,416 |  |  | -
San Francisco Bay Area |  | 4 |  | 300,620 |  |  | 37,200 |  |  | -
Seattle |  | 4 |  | 138,154 |  |  | 12,250 |  |  | 4,808
Miami |  | - |  | - |  |  | - |  |  | -
Washington, D.C./Baltimore |  | - |  | - |  |  | - |  |  | -
Total |  | 8 |  | 438,774 |  | $ | 58,866 |  | $ | 4,808
1 Represents one improved land parcel consisting of 4.5 acres. As of May 6, 2015, the Company has executed one non-binding letter of intent with a third-party seller to acquire one industrial property consisting of 58,564 square feet. The total purchase price for this industrial property is approximately $6.8 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 a purchase and sale agreement with respect to this property or otherwise complete any such prospective purchase on the terms described or at all. As of May 6, 2015, the Company has two outstanding contracts with third-party purchasers to sell two properties, consisting of 225,427 square feet, located in the Washington, D.C./Baltimore and S an Francisco Bay Area markets for an aggregate sales price of approximately $24.6 million (net book value of approximately $13.0 million). There is no assurance that the Company will sell the properties under contract because the proposed dispositions are subject to the completion of satisfactory due diligence and various closing conditions.

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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 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 2: 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 3: 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 4: 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=25496072&loc=d3e14435-108349 Reference 5: 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 + Details
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