Assets Held for Sale

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]

Note 3. ASSETS HELD FOR SALE

We have classified four sites and three sites as held for sale at June 30, 2023 and December 31, 2022, respectively, which are expected to be sold within one year of such classification. Assets held for sale were as follows (in thousands):


	June 30,			December 31,
	2023			2022
Land	$	698		$	758
Buildings and site improvements		723			457
Equipment		971			333
Total		2,392			1,548
Less accumulated depreciation		(1,391	)		(565	)
Assets held for sale	$	1,001		$	983

The Partnership has continued to focus on divesting lower performing assets. During the three and six months ended June 30, 2023, we sold six and seven properties for $7.8 million and $8.2 million in proceeds (both of which include $3.8 million of proceeds held in a Section 1031 exchange escrow account), resulting in net gains of $6.1 million and $6.2 million, respectively. During the three and six months ended June 30, 2022, we sold five and nine properties for $2.3 million and $3.8 million in proceeds, resulting in net gains of $0.5 million and $0.9 million, respectively.

See Note 5 for information regarding impairment charges primarily recorded upon classifying sites within assets held for sale.