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Properties, net (Tables) | 12 Months Ended
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Dec. 31, 2013
Real Estate [Abstract] |
Schedule of operating properties, net | Operating properties, net consisted of the following (in thousands):
| December 31,
| 2013 |  | 2012
Land | $ | 430,472 |  |  | $ | 427,766 |
Buildings and improvements | 2,869,870 |  |  | 2,725,875 |
Less: accumulated depreciation | (597,649 | ) |  | (555,975 | )
Operating properties, net | $ | 2,702,693 |  |  | $ | 2,597,666 |
Schedule of projects in development or held for future development | Projects we had in development or held for future development consisted of the following (in thousands):
| December 31,
| 2013 |  | 2012
Land | $ | 245,676 |  |  | $ | 236,324 |
Construction in progress, excluding land | 265,932 |  |  | 329,054 |
Projects in development or held for future development | $ | 511,608 |  |  | $ | 565,378 |
Schedule of operating property dispositions | We completed dispositions of the following properties in 2013 primarily in connection with the Strategic Reallocation Plan (dollars in thousands):
Project Name |  | Location |  | Date of Sale |  | Number of Buildings |  | Total Rentable Square Feet |  | Transaction Value |  | Gain on Disposition
920 Elkridge Landing Road |  | Linthicum, MD |  | 6/25/2013 |  | 1 |  |  | 103,000 |  |  | $ | 6,900 |  |  | $ | — |
4230 Forbes Boulevard |  | Lanham, MD |  | 12/11/2013 |  | 1 |  |  | 56,000 |  |  | 5,600 |  |  | 1,507 |
December 2013 Colorado Springs Portfolio Disposition |  | Colorado Springs, CO |  | 12/12/2013 |  | 15 |  |  | 1,165,000 |  |  | 133,925 |  |  | 1,164 |
December 2013 Portfolio Conveyance |  | Colorado Springs, CO and Linthicum, MD |  | 12/23/2013 |  | 14 |  |  | 1,021,000 |  |  | 146,876 |  |  | — |
|  |  |  |  |  | 31 |  |  | 2,345,000 |  |  | $ | 293,301 |  |  | $ | 2,671 |
We completed dispositions of the following properties in 2012 primarily in connection with the Strategic Reallocation Plan (dollars in thousands):
Project Name |  | Location |  | Date of Sale |  | Number of Buildings |  | Total Rentable Square Feet |  | Transaction Value |  | Gain on Disposition
White Marsh Portfolio Disposition |  | White Marsh, MD |  | 1/30/2012 |  | 5 |  |  | 163,000 |  |  | $ | 19,100 |  |  | $ | 2,445 |
1101 Sentry Gateway |  | San Antonio, TX |  | 1/31/2012 |  | 1 |  |  | 95,000 |  |  | 13,500 |  |  | 1,739 |
222 and 224 Schilling Circle |  | Hunt Valley, MD |  | 2/10/2012 |  | 2 |  |  | 56,000 |  |  | 4,400 |  |  | 102 |
15 and 45 West Gude Drive |  | Rockville, MD |  | 5/2/2012 |  | 2 |  |  | 231,000 |  |  | 49,107 |  |  | — |
11800 Tech Road |  | Silver Spring, MD |  | 6/14/2012 |  | 1 |  |  | 240,000 |  |  | 21,300 |  |  | — |
400 Professional Drive |  | Gaithersburg, MD |  | 7/2/2012 |  | 1 |  |  | 130,000 |  |  | 16,198 |  |  | — |
July 2012 Portfolio Disposition |  | Baltimore/Washington Corridor and Greater Baltimore |  | 7/24/2012 |  | 23 |  |  | 1,387,000 |  |  | 161,901 |  |  | 16,900 |
|  |  |  |  |  | 35 |  |  | 2,302,000 |  |  | $ | 285,506 |  |  | $ | 21,186 |
Schedule of operating property allocation costs | The table below sets forth the allocation of the acquisition costs of this property (in thousands):
Land, operating properties |  | $ | 3,507 |
Building and improvements |  | 30,177 |
Intangible assets on real estate acquisitions |  | 14,993 |
Total assets |  | 48,677 |
Below-market leases |  | (369 | )
Total acquisition cost |  | $ | 48,308 |
Schedule of allocation of intangible assets on acquisition of property | Intangible assets recorded in connection with the above acquisition included the following (dollars in thousands):
|  |  | Weighted Average Amortization Period (in Years)
Tenant relationship value | $ | 7,472 |  |  | 10
In-place lease value | 7,109 |  |  | 5
Above-market leases | 412 |  |  | 5
| $ | 14,993 |  |  | 7

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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
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