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Investments in Real Estate (Tables) | 3 Months Ended
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Mar. 31, 2022
Real Estate [Abstract] |
Schedule of Acquired Properties | The Company completed the following warehouse/distribution acquisition transactions during the three months ended March 31, 2022:
Market | Acquisition Date | Initial Cost Basis | Primary Lease Expiration at Acquisition Date | Land |  | Building and Improvements |  | Lease in-place Intangible |  |
Cincinnati/Dayton, OH(1) | February 2022 | $ | 23,382 |  | N/A | $ | 2,010 |  |  | $ | 21,372 |  |  | $ | — |  |  |
Cincinnati/Dayton, OH | February 2022 | 48,660 |  | 04/2032 | 4,197 |  |  | 40,944 |  |  | 3,519 |  |  |
|  | $ | 72,042 |  |  | $ | 6,207 |  |  | $ | 62,316 |  |  | $ | 3,519 |  |  |
(1) Subsequent to acquisition, property was fully leased for approximately nine years.
Schedule of Real Estate Properties | As of March 31, 2022, the details of the warehouse/distribution real estate under construction are as follows (in $000's, except square feet):
Project (% owned) | # of Buildings | Market | Estimated Sq. Ft. | Estimated Project Cost | GAAP Investment Balance as of 3/31/2022 | LXP Amount Funded as of 3/31/2022(3) | Estimated Building Completion Date | % Leased as of 3/31/2022
The Cubes at Etna East (95%)(1) | 1 | Columbus, OH | 1,074,840 |  | $ | 72,100 |  | $ | 44,205 |  | $ | 37,446 |  | 3Q 2022 | — | %
Ocala (80%)(1) | 1 | Central Florida | 1,085,280 |  | 81,200 |  | 51,808 |  | 36,151 |  | 3Q 2022 | — | %
Cotton 303 (93%)(1) | 2 | Phoenix, AZ | 880,678 |  | 84,200 |  | 40,176 |  | 35,306 |  | 4Q 2022 | — | %
Mt. Comfort (80%)(1) | 1 | Indianapolis, IN | 1,053,360 |  | 66,400 |  | 32,388 |  | 24,462 |  | 4Q 2022 | — | %
Smith Farms (90%)(1)(2) | 3 | Greenville-Spartanburg, SC | 2,194,820 |  | 162,500 |  | 62,681 |  | 46,968 |  | 4Q 2022 - 2Q 2023 | 36 | %
|  |  |  | $ | 466,400 |  | $ | 231,258 |  | $ | 180,333 |  |  |
(1) Estimated project cost includes estimated tenant improvements and leasing costs and excludes potential developer partner promote. (2) Pre-leased 797,936 square foot facility subject to a 12-year lease commencing upon substantial completion of the facility. (3) Excludes noncontrolling interests' share. As of March 31, 2022, the details of the land held for development are as follows (in $000's, except acres):
Project (% owned) |  | Market |  | Approx. Developable Acres |  | GAAP Investment Balance as of 3/31/2022 |  | LXP Amount Funded as of 3/31/2022 (1)
Consolidated: |  |  |  |  |  |  |  |
Reems & Olive (95.5%) |  | Phoenix, AZ |  | 420 |  | $ | 101,047 |  |  | $ | 96,544 |
Mt. Comfort Phase II (80%) |  | Indianapolis, IN |  | 70 |  | 3,300 |  |  | 2,612 |
|  |  |  | 490 |  | $ | 104,347 |  |  | $ | 99,156 |
(1) Excludes noncontrolling interests' share.

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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
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