Property Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Purchase price allocation

During the year ended December 31, 2023, we acquired fee simple interests in 54 properties with an aggregate purchase price of $248.1 million and allocated the purchase price as follows (in thousands):

					Purchase Price Allocation
Asset Type	Properties		Purchase Price		Land		Buildings & Improve- ments		In-Place Leases		Intangible Market Lease Assets		Intangible Market Lease Liabilities
Express tunnel car washes		26	$	137,827	$	37,198	$	87,113	$	14,540	$	637	$	(1,661	)
Convenience stores (a)		12		74,244		25,283		42,437		6,524		—		—
Auto service centers		13		29,908		6,277		12,498		3,242		8,311		(420	)
Drive-thru QSRs		3		6,093		2,625		2,737		582		149		—
		54	$	248,072	$	71,383	$	144,785	$	24,888	$	9,097	$	(2,081	)

(a)Purchase price and land allocation include $0.9 million related to the acquisition of a land parcel adjacent to an existing site which was subsequently combined with the existing site into a single property upon redevelopment of the existing site.

During the year ended December 31, 2022, we acquired fee simple interests in 40 properties for an aggregate purchase price of $137.3 million and allocated the purchase price as follows (in thousands):

					Purchase Price Allocation
Asset Type	Properties		Purchase Price		Land		Buildings & Improve- ments		In-Place Leases		Intangible Market Lease Assets		Intangible Market Lease Liabilities
Convenience stores		16	$	67,528	$	12,727	$	49,871	$	5,545	$	403	$	(1,018	)
Express tunnel car washes		9		43,874		20,573		18,888		4,413		—		—
Auto service centers		14		22,912		2,621		17,516		2,823		—		(48	)
Drive-thru QSRs		1		2,961		702		2,182		77		—		—
		40	$	137,275	$	36,623	$	88,457	$	12,858	$	403	$	(1,066	)