Investment in Real Estate (Tables)

9 Months Ended

Sep. 30, 2016

Real Estate [Abstract]

Summary of the Fair Value of Assets and Liabilities Acquired

The following table summarizes the fair value of amounts recognized for each major class of asset and liability for the industrial properties and land parcels acquired during the nine months ended September 30, 2016:

	Purchase Price			Weighted Average Life (in Months)
Land	$	66,803		N/A
Building and Improvements	29,303			(A)
Other Assets	495			(B)
In-Place Leases	2,356			88
Above Market Leases	197			32
Assumed Mortgage Loan Premium (See Note 4)	(529		)	44
Total Purchase Price	$	98,625
Assumed Mortgage Loan (See Note 4)	(4,513		)
Total Net Assets Acquired	$	94,112

(A) See Note 2 to the consolidated financial statements in our 2015 Form 10-K for the disclosure of useful lives of our Investment in Real Estate and our Depreciation policy.

(B) Represents leasing commissions, which are included in prepaid expenses and other assets, net on the consolidated balance sheets and amortized over the remaining term of each lease.