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Commitments and Contingencies
3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Contractual Commitments. As of May 5, 2020, the Company has one outstanding contract with a third-party seller to acquire one industrial property consisting of approximately 13,000 square feet. There is no assurance that the Company will acquire or dispose of the properties under contract because the proposed acquisition and disposition are subject to the completion of satisfactory due diligence and various closing conditions.
The following table summarizes certain information with respect to the property the Company has under contract:
MarketNumber of
Buildings
Square FeetPurchase Price (in
thousands)
Assumed Debt (in
thousands)
Los Angeles—  —  $—  $—  
Northern New Jersey/New York City
—  —  —  —  
San Francisco Bay Area—  —  —  —  
Seattle  13,000  5,700  —  
Miami—  —  —  —  
Washington, D.C.—  —  —  —  
Total 13,000  $5,700  $—  
As of May 5, 2020, the Company has one contract with a third party buyer to sell three industrial properties in the Washington, D.C. market totaling approximately 340,000 square feet for a sale price of approximately $54.0 million. There is no assurance that the Company will sell the properties under contract because the proposed disposition is subject to the completion of satisfactory due diligence and various closing conditions.