Real Estate Assets (Tables)

9 Months Ended

Sep. 30, 2021

Real Estate Assets

Schedule of real estate assets

	Estimated
	Useful Lives	Sep. 30, 2021		Dec. 31, 2020
Land		$	47,290	$	33,084
Land improvements	10 to 30 years		47,483		45,827
Buildings and improvements	10 to 40 years		284,042		233,250
Tenant improvements	Shorter of useful life or terms of related lease		35,204		34,899
Machinery and equipment	3 to 20 years		10,958		10,958
Construction in progress			42,977		4,036
Development costs			3,749		5,106
			471,703		367,160
Accumulated depreciation			(127,888)		(124,839)
		$	343,815	$	242,321

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

	For the Three Months Ended				For the Nine Months Ended
	Sep. 30, 2021		Sep. 30, 2020		Sep. 30, 2021		Sep. 30, 2020
Depreciation expense	$	3,322	$	3,008	$	9,225	$	8,958

Schedule of real estate held for sale

	Sep. 30, 2021		Dec. 31, 2020
Land	$	338	$	505
Land improvements		4,232		269
Development costs		63		6,028
	$	4,633	$	6,802

2021 Acquisitions

Real Estate Assets

Schedule of purchase price allocation

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

	2850 Interstate		7800 Tuckaseegee		6355 Farm Bureau		Jetport Land	Total
Land	$	2,369	$	4,606	$	2,163	5,658	$	14,796
Land improvements		416		927		388	—		1,731
Buildings and improvements		14,703		35,947		10,036	—		60,686
Tenant improvements		48		200		132	—		380
Intangible assets		558		1,462		918	—		2,938
Intangible liabilities		(228)		(640)		(1,709)	—		(2,577)
	$	17,866	$	42,502	$	11,928	5,658	$	77,954