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v3.23.2

Investments in Real Estate (Tables) | 6 Months Ended
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Jun. 30, 2023
Real Estate [Abstract] |
Schedule of Acquired Properties | The Company completed and placed in service the following warehouse/distribution facility during the six months ended June 30, 2023:
Market | Placed in Service Date | Initial Cost Basis | Lease Expiration Date | Land |  | Building and Improvements |  |  |
Phoenix, Arizona(1) | March 2023 | $ | 37,118 |  | 08/2033 | $ | 7,552 |  |  | $ | 29,566 |  |  |  |
(1) Initial basis excludes certain remaining costs, including developer partner promote, if any.
Schedule of Real Estate Properties | As of June 30, 2023, the details of the development arrangements outstanding 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 6/30/2023(2) | LXP Amount Funded as of 6/30/2023(3) | Actual/Estimated Base Building Completion Date | % Leased as of 6/30/2023 | Estimated Placed in Service Date
Development Projects Leased: |  |  |  |  |  |  |  |
ETNA Cubes(95%) | 1 | Columbus, OH | 1,074,840 |  | $ | 76,600 |  | $ | 63,370 |  | $ | 66,148 |  | 3Q 2022 | 100 | % | 4Q 2023
Cotton 303 (93%) | 1 | Phoenix, AZ | 488,400 |  | 55,300 |  | 39,182 |  | 32,652 |  | 3Q 2023 | 100 | % | 1Q 2024
| 2 |  | 1,563,240 |  | $ | 131,900 |  | $ | 102,552 |  | $ | 98,800 |  |  |  |
Development Projects Available for Lease: |  |  |  |  |  |  |
Ocala (80%) | 1 | Central Florida | 1,085,280 |  | $ | 83,200 |  | $ | 77,209 |  | $ | 67,984 |  | 1Q 2023 | — | % | — |
Mt. Comfort (80%) | 1 | Indianapolis, IN | 1,053,360 |  | 65,900 |  | 63,790 |  | 55,312 |  | 1Q 2023 | — | % | — |
Smith Farms (90%) | 2 | Greenville-Spartanburg, SC | 1,396,772 |  | 101,600 |  | 92,213 |  | 79,975 |  | 2Q 2023 | — | % | — |
South Shore (100%) | 2 | Central Florida | 270,885 |  | 42,500 |  | 36,578 |  | 30,313 |  | 2Q 2023 - 3Q 2023 | — | % | — |
| 6 |  | 3,806,297 |  | $ | 293,200 |  | $ | 269,790 |  | $ | 233,584 |  |  |  |
| 8 |  | 5,369,537 |  | $ | 425,100 |  | $ | 372,342 |  | $ | 332,384 |  |  |  |
(1) Estimated project cost includes estimated tenant improvements and leasing costs and excludes potential developer partner promote, if any. (2) Excludes leasing costs. (3) Excludes noncontrolling interests' share. As of June 30, 2023, the details of the land held for industrial development are as follows (in $000's, except acres):
Project (% owned) |  | Market |  | Approx. Developable Acres |  | GAAP Investment Balance as of 6/30/2023 |  | LXP Amount Funded as of 6/30/2023 (1)
Reems & Olive (95.5%) |  | Phoenix, AZ |  | 320 |  | $ | 77,538 |  |  | $ | 74,177 |
Mt. Comfort Phase II (80%) |  | Indianapolis, IN |  | 116 |  | 5,321 |  |  | 4,266 |
ATL Fairburn JV (100%) |  | Atlanta, GA |  | 14 |  | 1,732 |  |  | 1,737 |
|  |  |  | 450 |  | $ | 84,591 |  |  | $ | 80,180 |
(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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