Investment in Real Estate (Tables)

6 Months Ended

Jun. 30, 2013

Investment in Real Estate [Abstract]

Summary Regarding Industrial Properties Included in Discontinued Operations

The following table discloses certain information regarding the industrial properties included in discontinued operations for the three and six months ended June 30, 2013 and 2012:



	Three Months Ended June 30, 2013			Three Months Ended June 30, 2012			Six Months Ended June 30, 2013			Six Months Ended June 30, 2012
Total Revenues	$	595		$	3,395		$	1,637		$	7,345
Property Expenses	(282		)	(1,509		)	(703		)	(3,287		)
Impairment of Real Estate	(176		)	—			(176		)	(1,082		)
Depreciation and Amortization	(81		)	(937		)	(528		)	(2,281		)
Gain on Sale of Real Estate	13,481			1,415			10,407			7,614
Income from Discontinued Operations	$	13,537		$	2,364		$	10,637		$	8,309

Net Non-Cash Impairment Charges

During the three and six months ended June 30, 2013 and 2012, we recorded the following net non-cash impairment charges:



	Three Months Ended June 30, 2013		Three Months Ended June 30, 2012		Six Months Ended June 30, 2013		Six Months Ended June 30, 2012
Held for Sale and Sold Operating Properties — Discontinued Operations	$	176	$	—	$	176	$	1,082
Held for Use Operating Properties — Continuing Operations	1,429		—		1,429		19
Total Net Impairment	$	1,605	$	—	$	1,605	$	1,101

Fair Value Measurements on a Nonrecurring Basis

The following table presents information about our real estate assets that were measured at fair value on a non-recurring basis during the six months ended June 30, 2013 and 2012. The table indicates the fair value hierarchy of the valuation techniques we utilized to determine fair value.



	Fair Value Measurements on a Non-Recurring Basis Using:
Description	At June 30,		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Unobservable Inputs (Level 3)		Total Impairment for the Six Months Ended
Long-lived Assets Held and Used or Held for Sale - June 30, 2013	$	6,993	—	—	$	6,993	$	(1,605	)
Long-lived Assets Held for Sale - June 30, 2012*	$	24,069	—	—	$	24,069	$	(1,194	)
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* Excludes industrial properties for which an impairment reversal of $93 was recorded during the six months ended June 30, 2012 since the related assets are recorded at carrying value, which is lower than estimated fair value at June 30, 2012.

Quantitative Information about Level 3 Fair Value Measurements

The following table presents quantitative information about the Level 3 fair value measurements at June 30, 2013 and 2012.



Quantitative Information about Level 3 Fair Value Measurements:
Description	Fair Value		Valuation Technique	Unobservable Inputs	Range
Four industrial properties comprising approximately 0.3 million square feet of GLA at June 30, 2013	$	6,993	3^rd Party Pricing	(A)	N/A
Five industrial properties comprising approximately 1.8 million square feet of GLA at June 30, 2012	$	24,069	3^rd Party Pricing	(A)	N/A


(A)	The fair value for the properties is based upon the value of a third party purchase contract or letter of intent, which is subject to our corroboration for reasonableness.

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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