Property Dispositions

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Property Dispositions

Property Dispositions

The following properties were sold during six months ended June 30, 2022 (in thousands):

Buildings Sold	Location / Reportable Segment	Date of Sale	Gain on Sale of Real Estate Assets		Net Sales Proceeds
Two Pierce Place	Itasca, Illinois / Other	January 25, 2022	$	1,741	$	24,272
225 and 235 Presidential Way	Boston, Massachusetts / Boston	January 28, 2022	$	48,933	$	119,324
Total			$	50,674	$	143,596

The 225 and 235 Presidential Way assets met the criteria to be presented in the accompanying consolidated balance sheet as held for sale assets as of December 31, 2021. Details of such amounts as of December 31, 2021 are as follows (in thousands):

	December 31, 2021
Real estate assets held for sale, net:
Land	$	7,750
Building and improvements, less accumulated depreciation of $16,699 as of December 31, 2021	55,110
Construction in progress	1,027
Total real estate assets held for sale, net	$	63,887
Other assets held for sale, net:
Straight-line rent receivables	$	2,966
Deferred lease costs, less accumulated amortization of $996 as of December 31, 2021	5,427
Total other assets held for sale, net	$	8,393

Also during the six months ended June 30, 2022, Piedmont received $118.5 million in proceeds from the payoff of two notes receivable that Piedmont had received in late 2020 from the buyer of its remaining New Jersey properties. The proceeds were used to pay down Piedmont's unsecured line of credit.