Investment in Real Estate (Tables)

6 Months Ended

Jun. 30, 2014

Real Estate Investment Property, Net [Abstract]

Summary of Acquisition Purchase Price Allocation

The purchase price of the industrial properties and land parcels acquired was allocated as follows:

	Six Months Ended June 30, 2014
Land	$	7,695
Building and Improvements	16,946
Other Assets	897
Deferred Leasing Intangibles, Net	5,563
Total Purchase Price	$	31,101

Summary of Intangible Assets (Liabilities) Subject to Amortization in the Period of Acquisition

The fair value at the date of acquisition of in-place leases, tenant relationships, a below market ground lease obligation and above and below market leases recorded due to the real estate properties acquired for the six months ended June 30, 2014, which are recorded as deferred leasing intangibles, are as follows:

	Six Months Ended June 30, 2014
In-Place Leases	$	2,660
Tenant Relationships	$	1,620
Above Market Leases	$	219
Below Market Ground Lease Obligation	$	1,854
Below Market Leases	$	(790	)

The weighted average life, in months, of in-place leases, tenant relationships, a below market ground lease obligation and above and below market leases recorded at the time of acquisition as a result of the real estate properties acquired for the six months ended June 30, 2014 is as follows:

	Six Months Ended June 30, 2014
In-Place Leases	71
Tenant Relationships	130
Above Market Leases	83
Below Market Ground Lease Obligation	480
Below Market Leases	71

Summary of Industrial Properties Included in Discontinued Operations

The following table discloses certain information regarding the industrial properties included in our discontinued operations for the three and six months ended June 30, 2014 and 2013:

	Three Months Ended June 30, 2014			Three Months Ended June 30, 2013			Six Months Ended June 30, 2014			Six Months Ended June 30, 2013
Total Revenues	$	154		$	3,181		$	315		$	6,722
Property Expenses	161			(1,309		)	156			(2,756		)
Impairment of Real Estate	—			(1,605		)	—			(1,605		)
Depreciation and Other Amortization	(59		)	(1,085		)	(122		)	(2,405		)
Gain on Sale of Real Estate	282			13,481			714			10,407
Income from Discontinued Operations	$	538		$	12,663		$	1,063		$	10,363

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 and for which impairment charges were recorded during the six months ended June 30, 2013. 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, 2013		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
Sold Operating Properties	$	6,993	—	—	$	6,993	$	(1,605	)

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.

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	$	6,993	Contracted Price	(A)	N/A

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