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RECENT ACQUISITIONS OF REAL ESTATE (Tables)
6 Months Ended
Jun. 30, 2012
Business Combinations [Abstract]  
Schedule of Business Acquisitions, Properties Acquired
During the six months ended June 30, 2012, the Company acquired the following properties (in thousands):
 
 
 
 
 
 
 
 
 
 
 
 
Intangibles
 
 
Property Name
 
City
 
State
 
Acquisition Date
 
Land
 
Building and Improvements
 
Tenant Origination and Absorption Costs
 
Above-Market Lease Assets
 
Below-Market
Lease Liabilities
 
Total 
Purchase
Price
Town Center
 
Plano
 
TX
 
03/27/2012
 
$
7,428

 
$
95,780

 
$
12,767

 
$
9

 
$
3,412

 
$
112,572

McEwen Building
 
Franklin
 
TN
 
04/30/2012
 
5,600

 
28,946

 
5,758

 
192

 
496

 
40,000

Gateway Tech Center
 
Salt Lake City
 
UT
 
05/09/2012
 
9,800

 
15,284

 
4,767

 
398

 
13

 
30,236

 
 
 
 
 
 
 
 
$
22,828

 
$
140,010

 
$
23,292

 
$
599

 
$
3,921

 
$
182,808

Schedule of Intangible Assets and Liabilities Acquired, Weighted-Average Amortization Periods
The intangible assets and liabilities acquired in connection with these acquisitions have weighted-average amortization periods as of the date of acquisition as follows (in years):
 
 
Tenant Origination and
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
Town Center
 
6.2
 
1.7
 
7.9
McEwen Building
 
6.6
 
6.1
 
8.7
Gateway Tech Center
 
5.5
 
5.2
 
2.1