Dispositions

9 Months Ended

Sep. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Dispositions

Dispositions

The following table summarizes the properties sold during the nine months ended September 30, 2017.

Location	Property Type	Month of Disposition	Number of Buildings	Rentable Square Feet	Sales Price (1) (in millions)
5717 Pacific Center Boulevard, San Diego, CA (2)	Office	January	1	67,995	$	12.1
Sorrento Mesa and Mission Valley Properties (3)	Office	September	10	675,143	174.5
Total Dispositions			11	743,138	$	186.6

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(1) Represents gross sales price before the impact of broker commissions and closing costs.

(2) This property was classified as held for sale at December 31, 2016.

(3) The Sorrento Mesa and Mission Valley Properties includes the following properties: 10390, 10394, 10398, 10421, 10445 and 10455 Pacific Center Court, 2355, 2365, 2375 and 2385 Northside Drive and Pacific Corporate Center - Lot 8, a 5.0 acre undeveloped land parcel.

The total gain on the operating properties and land sold during the nine months ended September 30, 2017 was $39.5 million and $0.4 million, respectively. As of September 30, 2017, approximately $170.6 million of net proceeds related to the Sorrento Mesa and Mission Valley Properties disposition were temporarily being held at qualified intermediaries, at our direction, for the purpose of facilitating potential future Section 1031 Exchanges. The cash proceeds are included in restricted cash on our consolidated balance sheets as of September 30, 2017.