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Acquisitions
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
Operating Property Acquisitions

During the nine months ended September 30, 2025, we acquired the operating property listed below from an unrelated third party:

PropertyDate of AcquisitionNumber of
Buildings		Rentable
Square Feet
Purchase Price (in millions) (1)
335-345 N. Maple Drive (Maple Plaza)September 9, 20251306,366$205.3 
________________________ 
(1)Excludes acquisition-related costs and purchase price credits.

The related assets, liabilities, and results of operations of the acquired properties are included in the consolidated financial statements as of the date of acquisition. The following table summarizes the estimated relative fair values of the assets acquired and liabilities assumed as of the date of acquisition, excluding acquisition-related costs:

Total 2025 Operating
Property Acquisitions (1)
(in thousands)
Assets
Land and improvements$28,921 
Buildings and improvements (2)
143,833 
Deferred leasing costs and acquisition-related intangible assets (3)
31,865 
Total assets acquired$204,619 
Liabilities
Acquisition-related intangible liabilities (4)
$82 
Total liabilities assumed$82 
Net assets and liabilities acquired$204,537 
________________________ 
(1)Represents purchase price net of credits. Excludes acquisition-related costs of $0.5 million.
(2)Represents buildings, building improvements, and tenant improvements.
(3)Represents in-place leases (approximately $28.7 million with a weighted average amortization period of 4.2 years) and above-market leases (approximately $3.2 million with a weighted average amortization period of 4.8 years).
(4)Represents below-market leases (approximately $0.1 million with a weighted average amortization period of 1.4 years).