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Discontinued Operations
9 Months Ended
Sep. 30, 2011
Discontinued Operations. 
Discontinued Operations

11.       Discontinued Operations

 

The Company reached agreements to sell an office property located in Falls Church, Virginia, which was sold on January 21, 2011, and was classified as held for sale at December 31, 2010 and an industrial property located in Savage, Maryland, which was sold on June 24, 2011.  Both properties were sold at a gain.  Accordingly, the operating results for these properties have been reflected as discontinued operations for all periods presented, and are summarized below:

 

 

 

For the Three Months Ended

 

For the Nine Months Ended

 

(in thousands)

 

September 30,

 

September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Rental revenue

 

  $

-

 

  $

2,147

 

  $

689

 

  $

6,573

 

Rental operating expenses

 

-

 

(23)

 

(5)

 

(70)

 

Real estate taxes and insurance

 

-

 

(204)

 

(56)

 

(757)

 

Depreciation and amortization

 

-

 

(759)

 

(72)

 

(2,276)

 

Net income from discontinued operations

 

  $

-

 

  $

1,161

 

  $

556

 

  $

3,470