Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2021

Real Estate [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes amounts recognized for each major class of assets and liabilities (in thousands) for these acquisitions during the nine months ended September 30, 2021:

Real estate assets	$	351,398
Lease related intangibles	11,796
Total acquired assets	$	363,194
Below market lease liabilities	$	43,734

Summary of Most Significant Assumptions utilized in the Estimations

The most significant assumptions used in calculating the "as-if vacant" value for acquisition activity during the nine months ended September 30, 2021 are as follows:

	Low			High
Exit capitalization rate	3.50		%	5.00		%
Annual net rental rate per square foot on acquired buildings	$	6.62		$	15.00
Annual net rental rate per acre on acquired ground lease	$	182,136		$	182,136