Investment in Real Estate

6 Months Ended

Jun. 30, 2021

Acquisitions

During the six months ended June 30, 2021, we acquired three industrial properties comprised of approximately 0.2 million square feet of GLA and five land parcels, one of which was acquired from our Joint Venture I (see Note 5). We accounted for the property 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 six months ended June 30, 2021:


Land	$	120,640
Building and Improvements/Construction in Progress	23,977
In-Place Leases	789


Other Assets	1,592

Total Purchase Price	$	146,998

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 six months ended June 30, 2021.

Real Estate Held for Sale

As of June 30, 2021, we had four industrial properties and two industrial condominium units comprised of approximately 0.1 million square feet of GLA held for sale.

Sales

During the six months ended June 30, 2021, we sold six industrial properties and three industrial condominium units comprised of approximately 1.5 million square feet of GLA and one land parcel. Gross proceeds from the sales were $104,372. The gain on sale of real estate attributable to these sales was $57,499.