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Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2021
Real Estate [Abstract] |
Real Estate and Accumulated Depreciation | Real estate activity for 2021 and 2020 is composed of the following:
|  | Years ended December 31, |
|  | 2021 |  |  | 2020 |
Cost |  |  |  |  |  |  |  |
Balance, beginning of year |  | $ | 1,527,478,000 |  |  | $ | 1,515,206,000 |
Properties transferred to held for sale |  |  | (184,639,000 | ) |  |  | (22,512,000 | )
Outparcel dispositions |  |  | (387,000 | ) |  |  | (840,000 | )
Property impairments |  |  | (83,224,000 | ) |  |  | — |
Improvements and betterments |  |  | 29,296,000 |  |  |  | 35,624,000 |
Balance, end of the year |  | $ | 1,288,524,000 |  |  | $ | 1,527,478,000 |
Accumulated depreciation |  |  |  |  |  |  |  |
Balance, beginning of the year |  | $ | 428,569,000 |  |  | $ | 389,861,000 |
Properties transferred held for sale |  |  | (55,165,000 | ) |  |  | (3,947,000 | )
Outparcel dispositions |  |  | — |  |  |  | (90,000 | )
Depreciation expense |  |  | 36,338,000 |  |  |  | 42,745,000 |
Balance, end of the year |  | $ | 409,742,000 |  |  | $ | 428,569,000 |
Net book value |  | $ | 878,782,000 |  |  | $ | 1,098,909,000 |
Schedule of Transactions Related to Properties Held for Sale/Conveyance | Dispositions During 2021, 2020 and 2019, the Company sold the properties listed below:
|  |  |  |  |  |  |  |  |  | Gain on Sale/ |
|  |  |  | Date |  | Sales |  |  | Reversal of |
Property |  | Location |  | Sold |  | Price |  |  | Impairment |
2021 |  |  |  |  |  |  |  |  |  |  |  |
Kempsville Crossing (land parcel) |  | Virginia Beach, VA |  | 2/24/2021 |  | $ | 1,300,000 |  |  | $ | 1,047,000 |
The Commons |  | Dubois, PA |  | 5/5/2021 |  |  | 9,761,000 |  |  |  | 1,849,000 |
Camp Hill Shopping Center |  | Camp Hill, PA |  | 6/21/2021 |  |  | 89,662,500 |  |  |  | 48,857,000 |
|  |  |  |  |  | $ | 100,723,500 |  |  | $ | 51,753,000 |
2020 |  |  |  |  |  |  |  |  |  |  |  |
Metro Square |  | Owings Mills, MD |  | 7/9/2020 |  | $ | 4,288,000 |  |  | $ | - |
Oakland Mills outparcel building |  | Columbia, MD |  | 9/17/2020 |  |  | 1,050,000 |  |  |  | 643,000 |
Glen Allen Shopping Center |  | Glen Allen, VA |  | 10/8/2020 |  |  | 8,540,000 |  |  |  | 1,780,000 |
Pine Grove Plaza outparcel building |  | Brown Mills, NJ |  | 11/2/2020 |  |  | 1,100,000 |  |  |  | 565,000 |
Suffolk Plaza |  | Suffolk, VA |  | 12/10/2020 |  |  | 6,950,000 |  |  |  | 1,408,000 |
|  |  |  |  |  | $ | 21,928,000 |  |  | $ | 4,396,000 |
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 |

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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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