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Investments in Real Estate (Tables) | 6 Months Ended
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Jun. 30, 2022
Real Estate [Abstract] |
Schedule of Acquired Properties | The Company acquired the following warehouse/distribution facilities during the six months ended June 30, 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 |  |  |
Phoenix, AZ | April 2022 | 59,140 |  | 05/2037 | 5,366 |  |  | 50,281 |  |  | 3,493 |  |  |
|  | $ | 131,182 |  |  | $ | 11,573 |  |  | $ | 112,597 |  |  | $ | 7,012 |  |  |
(1) Subsequent to acquisition, property was fully leased for approximately nine years.
Schedule of Real Estate Properties | As of June 30, 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(1) | GAAP Investment Balance as of 6/30/2022 | LXP Amount Funded as of 6/30/2022(2) | Estimated Building Completion Date | % Leased as of 6/30/2022
The Cubes at Etna East (95%) | 1 | Columbus, OH | 1,074,840 |  | $ | 72,100 |  | $ | 52,136 |  | $ | 44,449 |  | 3Q 2022 | — | %
Ocala (80%) | 1 | Central Florida | 1,085,280 |  | 83,100 |  | 60,483 |  | 49,711 |  | 4Q 2022 | — | %
Cotton 303 (93%)(3) | 2 | Phoenix, AZ | 880,678 |  | 84,200 |  | 47,798 |  | 39,150 |  | 4Q 2022 | 45 | %
Mt. Comfort (80%) | 1 | Indianapolis, IN | 1,053,360 |  | 65,500 |  | 38,598 |  | 29,581 |  | 4Q 2022 | — | %
Smith Farms (90%)(4) | 3 | Greenville-Spartanburg, SC | 2,194,820 |  | 170,400 |  | 85,704 |  | 60,704 |  | 4Q 2022 - 2Q 2023 | 36 | %
South Shore (100%) | 2 | Central Florida | 270,885 |  | 40,500 |  | 9,680 |  | 9,367 |  | 2Q 2023 | — | %
|  |  |  | $ | 515,800 |  | $ | 294,399 |  | $ | 232,962 |  |  |
(1) Estimated project cost includes estimated tenant improvements and leasing costs and excludes potential developer partner promote, if any. (2) Excludes noncontrolling interests' share. (3) Pre-leased 392,278 square foot facility subject to a 10-year lease commencing upon substantial completion of the facility. (4) Pre-leased 797,936 square foot facility subject to a 12-year lease commencing upon substantial completion of the facility. As of June 30, 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 6/30/2022 |  | LXP Amount Funded as of 6/30/2022 (1)
Consolidated: |  |  |  |  |  |  |  |
Reems & Olive (95.5%) |  | Phoenix, AZ |  | 420 |  | $ | 101,227 |  |  | $ | 96,788 |
Mt. Comfort Phase II (80%) |  | Indianapolis, IN |  | 116 |  | 5,076 |  |  | 4,033 |
ATL Fairburn JV (100%) |  | Atlanta, GA |  | 14 |  | $ | 1,729 |  |  | $ | 1,727 |
|  |  |  | 550 |  | $ | 108,032 |  |  | $ | 102,548 |
(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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