Real Estate Assets (Tables)

6 Months Ended

Jun. 30, 2021

Real Estate Assets

Schedule of real estate assets

	Estimated
	Useful Lives	June 30, 2021		Dec. 31, 2020
Land		$	45,464	$	33,084
Land improvements	10 to 30 years		47,074		45,827
Buildings and improvements	10 to 40 years		279,235		233,250
Tenant improvements	Shorter of useful life or terms of related lease		35,249		34,899
Machinery and equipment	3 to 20 years		10,958		10,958
Construction in progress			22,306		4,036
Development costs			3,856		5,106
			444,142		367,160
Accumulated depreciation			(128,850)		(124,839)
		$	315,292	$	242,321

Schedule of total depreciation expense and capitalized interest related to real estate assets

	For the Three Months Ended				For the Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Depreciation expense	$	2,987	$	3,049	$	5,903	$	5,950

Schedule of real estate held for sale

	June 30, 2021		Dec. 31, 2020
Land	$	522	$	505
Land improvements		269		269
Development costs		5,589		6,028
	$	6,380	$	6,802

2021 Acquisitions

Real Estate Assets

Schedule of purchase price allocation

The purchase prices for acquisitions in the 2021 six month period were allocated as follows:

	7800 Tuckaseegee		6355 Farm Bureau		Jetport Land		Total
Land	$	4,606	$	2,163	$	5,658	$	12,427
Land improvements		927		388		—		1,315
Buildings and improvements		35,959		10,036		—		45,995
Tenant improvements		200		132		—		332
Value of in-place lease		1,462		918		—		2,380
Value of below market lease		(640)		(1,709)		—		(2,349)
	$	42,514	$	11,928	$	5,658	$	60,100