Assets Held for Sale

6 Months Ended

Jun. 30, 2024

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

Note 3. ASSETS HELD FOR SALE

We have classified seven sites and two sites as held for sale at June 30, 2024 and December 31, 2023, 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,
	2024			2023
Land	$	1,656		$	240
Buildings and site improvements		1,200			380
Equipment		1,387			418
Total		4,243			1,038
Less accumulated depreciation		(1,757	)		(638	)
Assets held for sale	$	2,486		$	400

The Partnership has continued to focus on divesting lower performing assets. During the three and six months ended June 30, 2024, we sold ten sites for $11.9 million in proceeds (which includes $1.3 million of proceeds initially placed in a Section 1031 exchange escrow account), resulting in a net gain of $6.5 million. 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 initially placed in a Section 1031 exchange escrow account), resulting in net gains of $6.1 million and $6.2 million, respectively.

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