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Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Contractual Commitments. As of October 30, 2019, the Company has three outstanding contracts with third-party sellers to acquire three industrial properties consisting of approximately 91,000 square feet and one improved land parcel containing approximately 0.9 acres. 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 and various closing conditions.

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	50,256	12,000		—
San Francisco Bay Area	—	—	—		—
Seattle ¹	1	40,500	9,575		—
Miami	—	—	—		—
Washington, D.C.	—	—	—		—
Total	2	90,756	$	21,575	$	—

¹Includes one improved land parcel containing approximately 0.9 acres.

As of October 30, 2019, the Company has one outstanding contract with a third-party purchaser to sell one property for a sales price of approximately $7.5 million (net book value of approximately $6.0 million). There is no assurance the Company will sell the property under contract because the proposed disposition is subject to various closing conditions.