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Disposed Properties | 3 Months Ended
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Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Disposed Properties | Disposed Properties Continuing operations During the three months ended March 31, 2018, the Company recognized a net gain on sale of $18,280 related to three retail properties, a gain on transfer of asset of $1,777 related to the surrender of Stonecrest Marketplace, and a gain on sale of $248 related to the completion of a partial condemnation at a retail property. In aggregate the Company recognized net proceeds of $119,825 from the sales, surrender, and condemnation of these properties on the condensed consolidated statement of cash flows during the three months ended March 31, 2018. On March 21, 2018, the Company surrendered one retail property, Stonecrest Marketplace, with a carrying value of $23,932, to the lender (in satisfaction of non-recourse debt with an initial maturity date of March 1, 2017). The Company is not aware of any material outstanding commitments and contingencies related to this asset. The Company recognized a gain on debt extinguishment of $10,751 related to this transaction as part of income from continuing operations for the three months ended March 31, 2018. The following retail properties were sold during the three months ended March 31, 2018.
Asset |  | MSA |  | Disposition Date |  | Gross Disposition Price |  | Square Feet
Sherman Town Center I & II |  | Dallas-Fort Worth, TX |  | January 9, 2018 |  | $ | 63,000 |  |  | 485,000 |
Grafton Commons |  | Milwaukee-Racine-Waukesha, WI |  | January 25, 2018 |  | 33,500 |  |  | 239,000 |
Lakeport Commons |  | Sioux City-Vermillion, IA-SD |  | March 8, 2018 |  | 31,000 |  |  | 283,000 |
|  |  |  |  |  | $ | 127,500 |  |  | 1,007,000 |
During the three months ended March 31, 2017, the Company disposed of Penn Park, a 242,000 square foot retail property, on January 31, 2017 for a gross disposition price of $29,050, which resulted in a net gain on sale of $1,021 and generated net proceeds of $28,474. Discontinued operations On August 30, 2017 the Company sold Worldgate Plaza, the Company's remaining non-core office property. Discontinued operations in the condensed consolidated statement of operations and comprehensive loss for the three months ended March 31, 2017 reflects the operations of Worldgate Plaza.
| Three months ended March 31, 2017
Total income | $ | 1,806 |
Less: |
Depreciation and amortization expense | 448 |
General and administrative, property operating, and real estate tax expenses | 1,083 |
Operating income from discontinued operations | 275 |
Interest expense, income taxes, and other miscellaneous expenses | (849 | )
Net loss from discontinued operations | $ | (574 | )
Net loss per common share, from discontinued operations, basic and diluted | $ | 0.00 |
Weighted average number of common shares outstanding, basic and diluted | 773,316,262 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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