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Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2019
Real Estate [Abstract] |
Real Estate and Accumulated Depreciation | Real estate activity for 2019 and 2018 is composed of the following:
|  | Years ended December 31, |
|  | 2019 |  |  | 2018 |
Cost |  |  |  |  |  |  |  |
Balance, beginning of year |  | $ | 1,508,682,000 |  |  | $ | 1,534,599,000 |
Properties transferred to held for sale |  |  | (36,265,000 | ) |  |  | (61,505,000 | )
Property acquisitions |  |  | 9,333,000 |  |  |  | 6,481,000 |
Asset write-offs |  |  | (3,633,000 | ) |  |  | — |
Improvements and betterments |  |  | 37,089,000 |  |  |  | 29,107,000 |
Balance, end of the year |  | $ | 1,515,206,000 |  |  | $ | 1,508,682,000 |
Accumulated depreciation |  |  |  |  |  |  |  |
Balance, beginning of the year |  | $ | 361,969,000 |  |  | $ | 341,943,000 |
Properties transferred held for sale |  |  | (10,143,000 | ) |  |  | (14,886,000 | )
Asset write-offs |  |  | (3,107,000 | ) |  |  | — |
Depreciation expense |  |  | 41,142,000 |  |  |  | 34,912,000 |
Balance, end of the year |  | $ | 389,861,000 |  |  | $ | 361,969,000 |
Net book value |  | $ | 1,125,345,000 |  |  | $ | 1,146,713,000 |
Schedule of Transactions Related to Properties Held for Sale/Conveyance | Dispositions During 2019, 2018 and 2017, the Company sold the properties listed below:
|  |  |  | Date |  | Sales |  |  | Gain on |
Property |  | Location |  | Sold |  | Price |  |  | Sale |
2019 |  |  |  |  |  |  |  |  |  |  |  |
Maxatawny Marketplace |  | Maxatawny, PA |  | 2/15/2019 |  | $ | 10,330,000 |  |  | $ | 101,000 |
Fort Washington Center |  | Fort Washington, PA |  | 6/26/2019 |  |  | 9,048,000 |  |  |  | 2,841,000 |
|  |  |  |  |  | $ | 19,378,000 |  |  | $ | 2,942,000 |
2018 |  |  |  |  |  |  |  |  |  |  |  |
Mechanicsburg Center |  | Mechanicsburg, PA |  | 8/28/2018 |  | $ | 16,100,000 |  |  | $ | 4,864,000 |
West Bridgewater Plaza |  | West Bridgewater, MA |  | 9/28/2018 |  |  | 3,500,000 |  |  |  | - |
|  |  |  |  |  | $ | 19,600,000 |  |  | $ | 4,864,000 |
2017 |  |  |  |  |  |  |  |  |  |  |  |
Outparcel Building adjacent to Camp Hill |  | Camp Hill, PA |  | 2/1/2017 |  | $ | 10,650,000 |  |  | $ | 7,099,000 |
Fredericksburg Way |  | Fredericksburg, VA |  | 12/29/2017 |  |  | 2,200,000 |  |  |  | - |
|  |  |  |  |  | $ | 12,850,000 |  |  | $ | 7,099,000 |

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- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 + Details
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