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REAL ESTATE INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
REAL ESTATE INVESTMENTS |
Schedule of the Company's acquisitions of real estate | The following charts detail the Company’s real estate acquisitions during 2019 and 2018 (amounts in thousands). Date
Schedule of allocation of the purchase price for the company's acquisitions of real estate | NOTE 4—REAL ESTATE INVESTMENTS (Continued) The following charts detail the allocation of the purchase price for the Company’s acquisitions of real estate during 2019 and 2018 (amounts in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Building & | ​ | Intangible Lease | ​ | ​ | ​
Description of Property |  | Land |  | Improvements |  | Asset |  | Liability |  | Total
Zwanenberg Food Group/Metro Carpets industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nashville, Tennessee | ​ | $ | 1,058 | ​ | $ | 6,350 | ​ | $ | 750 | ​ | $ | (81) | ​ | $ | 8,077
Echo, Inc. industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Wauconda, Illinois | ​ | ​ | 67 | ​ | ​ | 3,424 | ​ | ​ | 339 | ​ | ​ | (4) | ​ | ​ | 3,826
Betz Mechanical Supply/Steve Davis Sales industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bensalem, Pennsylvania | ​ | ​ | 1,602 | ​ | ​ | 4,322 | ​ | ​ | 664 | ​ | ​ | (220) | ​ | ​ | 6,368
International Flora Technologies industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chandler, Arizona | ​ | ​ | 1,335 | ​ | ​ | 7,379 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 8,714
Nissan North America industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LaGrange, Georgia | ​ | ​ | 297 | ​ | ​ | 4,499 | ​ | ​ | 627 | ​ | ​ | (151) | ​ | ​ | 5,272
Continental Hydraulics industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shakopee, Minnesota | ​ | ​ | 1,877 | ​ | ​ | 5,462 | ​ | ​ | 944 | ​ | ​ | (221) | ​ | ​ | 8,062
Cosentino industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Rincon, Georgia | ​ | ​ | 61 | ​ | ​ | 5,969 | ​ | ​ | 667 | ​ | ​ | (176) | ​ | ​ | 6,521
The Door Mill industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chandler, Arizona | ​ | ​ | 1,164 | ​ | ​ | 1,691 | ​ | ​ | 254 | ​ | ​ | (62) | ​ | ​ | 3,047
Totals for 2019 | ​ | $ | 7,461 | ​ | $ | 39,096 | ​ | $ | 4,245 | ​ | $ | (915) | ​ | $ | 49,887
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Building & | ​ | Intangible Lease | ​ | ​ | ​
Description of Property |  | Land |  | Improvements |  | Asset |  | Liability |  | Total
Campania International/U.S. Tape industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pennsburg, Pennsylvania | ​ | $ | 1,776 | ​ | $ | 11,125 | ​ | $ | — | ​ | $ | — | ​ | $ | 12,901
Plymouth Industries industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Plymouth, Minnesota | ​ | ​ | 1,121 | ​ | ​ | 4,429 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,550
Applied Control industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Englewood, Colorado | ​ | ​ | 1,562 | ​ | ​ | 11,300 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 12,862
Xerimis industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Moorestown, New Jersey | ​ | ​ | 1,822 | ​ | ​ | 5,056 | ​ | ​ | 707 | ​ | ​ | (88) | ​ | ​ | 7,497
Multi-tenant industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Moorestown, New Jersey | ​ | ​ | 1,443 | ​ | ​ | 10,898 | ​ | ​ | 1,469 | ​ | ​ | (202) | ​ | ​ | 13,608
Men’s Warehouse industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bakersfield, California | ​ | ​ | 1,988 | ​ | ​ | 9,996 | ​ | ​ | 1,127 | ​ | ​ | (2,198) | ​ | ​ | 10,913
Dufresne Spencer Group industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Green Park, Missouri | ​ | ​ | 1,420 | ​ | ​ | 7,833 | ​ | ​ | 810 | ​ | ​ | — | ​ | ​ | 10,063
Transcendia industrial facility, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Greenville, South Carolina | ​ | ​ | 186 | ​ | ​ | 6,407 | ​ | ​ | 322 | ​ | ​ | (19) | ​ | ​ | 6,896
Totals for 2018 | ​ | $ | 11,318 | ​ | $ | 67,044 | ​ | $ | 4,435 | ​ | $ | (2,507) | ​ | $ | 80,290
Schedule of amortization of intangible lease assets as a result of acquired above market leases | The unamortized balance of intangible lease assets as a result of acquired above market leases at December 31, 2019 will be deducted from rental income through 2032 as follows (amounts in thousands): ​
​ | ​ | ​ | ​
2020 |  | $ | 654
2021 | ​ |  | 647
2022 | ​ |  | 481
2023 | ​ |  | 288
2024 | ​ |  | 218
Thereafter | ​ |  | 741
Total | ​ | $ | 3,029
Schedule of amortization of intangible lease liabilities as a result of acquired below market leases | The unamortized balance of intangible lease liabilities as a result of acquired below market leases at December 31, 2019 will be added to rental income through 2055 as follows (amounts in thousands): ​
​ | ​ | ​ | ​
2020 |  | $ | 1,385
2021 | ​ |  | 1,335
2022 | ​ |  | 1,224
2023 | ​ |  | 984
2024 | ​ |  | 709
Thereafter | ​ |  | 6,784
Total | ​ | $ | 12,421
​
Schedule of amortization of origination costs associated with in-place leases | The unamortized balance of origination costs associated with in-place leases at December 31, 2019 will be charged to amortization expense through 2055 as follows (amounts in thousands): ​
​ | ​ | ​ | ​
2020 |  | $ | 4,157
2021 | ​ |  | 4,035
2022 | ​ |  | 3,577
2023 | ​ |  | 2,937
2024 | ​ |  | 1,845
Thereafter | ​ |  | 6,488
Total | ​ | $ | 23,039
​

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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