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ACQUISITIONS AND DISPOSITIONS (Tables)
9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition
During the nine months ended September 30, 2021 and 2020, we closed on the following acquisitions:
Date PurchasedProperty NameCityStateSquare Feet
Purchase Price(1)
(in thousands)
August 10, 2021601 Murray RoadEast HanoverNJ88,000 $18,312 
August 19, 2021151 Ridgedale AvenueEast HanoverNJ187,000 37,759 
2021 Total$56,071 
February 12, 2020Kingswood CenterBrooklynNY130,000 $90,212 
February 12, 2020Kingswood CrossingBrooklynNY110,000 77,077 
2020 Total$167,289 
(1) The total purchase price for the properties acquired during the nine months ended September 30, 2021 and 2020 includes $0.6 million and $2.5 million, respectively, of transaction costs incurred related to the acquisitions.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The aggregate purchase price of the above property acquisitions have been allocated as follows:
Property NameLandBuildings and improvements
Identified intangible assets(1)
Identified intangible liabilities(1)
Debt premiumTotal Purchase Price
(in thousands)
601 Murray Road$2,075 $14,733 $1,722 $(218)$— $18,312 
151 Ridgedale Avenue2,990 35,509 — (740)— 37,759 
2021 Total$5,065 $50,242 $1,722 $(958)$— $56,071 
Kingswood Center$15,690 $76,766 $9,263 $(4,534)$(6,973)$90,212 
Kingswood Crossing8,150 64,159 4,768 — — 77,077 
2020 Total$23,840 $140,925 $14,031 $(4,534)$(6,973)$167,289 
(1) As of September 30, 2021, the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2021 were 7.6 years and 1.4 years, respectively. The remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2020 were 8.1 years and 9.1 years, respectively.