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SALES OF PROPERTIES (Tables) | 12 Months Ended
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Dec. 31, 2018
SALES OF PROPERTIES |
Schedule of sales of real estate | The following chart details the Company’s sales of real estate during 2018, 2017 and 2016 (amounts in thousands):
|  |  |  | Gross |  | Gain (loss) on Sale of |
Description of Property |  | Date Sold |  | Sales Price |  | Real Estate, Net |
Retail property, |  |  |  |  |  |  |  |  |
Fort Bend, Texas (a) |  | January 30, 2018 |  | $ | 9,200 |  | $ | 2,408 |
Land, |  |  |  |  |  |  |  |  |
Lakemoor, Illinois |  | September 14, 2018 |  |  | 8,459 |  |  | 4,585 | (b)
Retail property, |  |  |  |  |  |  |  |  |
Lincoln, Nebraska |  | December 13, 2018 |  |  | 10,000 |  |  | (1,731) |
Totals for 2018 |  |  |  | $ | 27,659 |  | $ | 5,262 |
Retail property, |  |  |  |  |  |  |  |  |
Greenwood Village, Colorado |  | May 8, 2017 |  | $ | 9,500 |  | $ | 6,568 |
Retail property, |  |  |  |  |  |  |  |  |
Kansas City, Missouri(c) |  | July 14, 2017 |  |  | 10,250 |  |  | 2,180 |
Retail property, |  |  |  |  |  |  |  |  |
Niles, Illinois |  | August 31, 2017 |  |  | 5,000 |  |  | 1,089 |
Restaurant property, |  |  |  |  |  |  |  |  |
Ann Arbor, Michigan(c)(d) |  | November 14, 2017 |  |  | 2,300 |  |  | — |
Totals for 2017 |  |  |  | $ | 27,050 |  | $ | 9,837 |
Portfolio of eight retail properties, |  |  |  |  |  |  |  |  |
Louisiana and Mississippi |  | February 1, 2016 |  | $ | 13,750 |  | $ | 787 |
Retail property, |  |  |  |  |  |  |  |  |
Killeen, Texas |  | May 19, 2016 |  |  | 3,100 |  |  | 980 |
Land, |  |  |  |  |  |  |  |  |
Sandy Springs, Georgia |  | June 15, 2016 |  |  | 8,858 |  |  | 2,331 |
Industrial property, |  |  |  |  |  |  |  |  |
Tomlinson, Pennsylvania |  | June 30, 2016 |  |  | 14,800 |  |  | 5,660 |
Retail property, |  |  |  |  |  |  |  |  |
Island Park, NY |  | December 22, 2016 |  |  | 2,702 |  |  | 213 |
|  |  |  |  | 43,210 |  |  | 9,971 |
Partial condemnation of land, |  |  |  |  |  |  |  |  |
Greenwood Village, Colorado |  | July 5, 2016 |  |  | 153 |  |  | 116 |
Totals for 2016 |  |  |  | $ | 43,363 |  | $ | 10,087 |
| (a) |  | This property was owned by a consolidated joint venture in which the Company held an 85% interest. The non-controlling interest’s share of the gain was $776.
| (b) |  | Includes $5,717, representing the unamortized balance of a $5,906 fixed rent payment which was received and recorded as deferred income in November 2017 and was to be included in rental income over the term of the lease.
| (c) |  | See Note 10 for information on the early termination of the interest rate swap derivative associated with the mortgage that was paid off on this property.
| (d) |  | As the sales price was less than the net book value, the Company determined that the property was impaired and recorded an impairment loss of $153, representing the difference, at September 30, 2017, between the net sales price and the net book value. The impairment loss is included in the accompanying consolidated statement of income for the year ended December 31, 2017.

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