Investment in Real Estate

9 Months Ended

Sep. 30, 2020

Acquisitions

During the nine months ended September 30, 2020, we acquired seven industrial properties comprised of approximately 0.9 million square feet of GLA and six land parcels. We accounted for the properties and land parcels as asset acquisitions and therefore capitalized transaction costs to the basis of the acquired assets. The following table summarizes the allocation of the aggregate purchase price to each major asset class for the industrial properties and land parcels acquired during the nine months ended September 30, 2020:


Land	$	114,986
Building and Improvements/Construction in Progress	65,964
In-Place Leases	1,642
Above Market Leases	134
Below Market Leases	(1,562)
Other Assets (leasing commissions)	201

Total Purchase Price	$	181,365

The revenue and net income associated with the acquisition of the industrial properties and land parcels, since their respective acquisition dates, are not significant to the nine months ended September 30, 2020.

Real Estate Held for Sale

As of September 30, 2020, we had two industrial properties comprised of approximately 0.2 million square feet of GLA held for sale.

Sales

During the nine months ended September 30, 2020, we sold 14 industrial properties comprised of approximately 1.2 million square feet of GLA. Gross proceeds from the sales, including the receipt of a sales-type lease receivable, were $110,926. The gain on sale of real estate attributable to these sales was $29,594.