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Property And Equipment

3 Months Ended

Mar. 31, 2022

Note 5. Property and equipment

The components of property and equipment, net, as of March 31, 2022 and December 31, 2021 were as follows (in thousands):



	March 31, ‎2022		December 31, ‎2021
Land	$	3,734	$	3,734
Buildings		15,980		15,980
Site improvements		470		470
Tenant improvements		567		567
Furniture and equipment		178		178
Construction in progress		508		83
Gross property and equipment	$	21,437	$	21,012
Accumulated depreciation		(574)		(396)
Property and equipment, net	$	20,863	$	20,616

Depreciation expense for property and equipment was $178,000 and $1,000 for the three months ended March 31, 2022 and 2021, respectively.