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Real Estate Dispositions, Held for Sale, and Impairment Charges (Tables)

12 Months Ended

Dec. 31, 2020

Real Estate [Abstract]

Summary Properties Sold

During the year ended December 31, 2020, we sold six non-core properties, located in Charlotte, North Carolina, Maple Heights, Ohio, Champaign, Illinois, and Austin, Texas, which are summarized in the table below (dollars in thousands):

Aggregate Square Footage Sold						Sales Price						Sales Costs												Gain on Sale of Real Estate, net
551,743						$	37,532					$	1,698											$	8,096

Components of Operating Income from Real Estate and Related Assets Disposed

The table below summarizes the components of operating income from the real estate and related assets disposed of during the years ended December 31, 2020, 2019, and 2018, respectively (dollars in thousands):

						For the year ended December 31,
						2020						2019						2018
Operating revenue						$	2,703					$	3,176					$	3,919
Operating expense						1,534						3,697						1,609
Other income (expense), net						8,181			(1)			(54)						(586)
Income (expense) from real estate and related assets sold						$	9,350					$	(575)					$	1,724

(1)Includes an $8.1 million gain on sale of real estate, net.

Components of Income from Real Estate and Related Assets Held for Sale

The table below summarizes the components of income from real estate and related assets held for sale at December 31, 2020 (dollars in thousands):

						For the year ended December 31,
						2020						2019						2018
Operating revenue						$	1,861					$	1,769					$	1,288
Operating expense						2,938			(1)			985						792
Other expense, net						(388)						(364)						(394)
(Loss) income from real estate and related assets held for sale						$	(1,465)					$	420					$	102

(1) Includes a $1.9 million impairment charge.

Components of Assets and Liabilities Held for Sale

The table below summarizes the components of the assets and liabilities held for sale reflected on the accompanying consolidated balance sheet (dollars in thousands):

						December 31, 2020						December 31, 2019
Assets Held for Sale
Total real estate held for sale						$	8,114					$	3,990
Lease intangibles, net						384						—
Total Assets Held for Sale						$	8,498					$	3,990
Liabilities Held for Sale
Asset retirement obligation						$	—					$	21
Total Liabilities Held for Sale						$	—					$	21

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