Significant Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Summary of Significant Assumptions Utilized in Estimates

The range of the most significant assumptions utilized in making the lease-up and future disposition estimates used in calculating the "as-if vacant" value for acquisition activities during 2016 and 2015, respectively, are as follows:

Quantico Joint Venture Properties

	2016
	Low	High
Discount rate	8.00%	10.50%
Exit capitalization rate	6.50%	9.00%
Lease-up period (months)	12	36
Net rental rate per square foot - Industrial	$8.20	$8.50
Net rental rate per square foot - Office	$9.34	$18.54

Other 2016 and 2015 Acquisitions

	2016		2015
	Low	High	Low	High
Discount rate	7.46%	8.10%	7.07%	7.07%
Exit capitalization rate	6.25%	6.96%	5.57%	5.57%
Lease-up period (months)	12	12	12	12
Net rental rate per square foot - Industrial	$3.35	$3.39	$4.85	$4.85
Net rental rate per square foot - Medical Office	$15.40	$15.40	$—	$—

Summary of Allocation of Fair Value of Amounts Recognized

The following table summarizes the fair value of amounts recognized for each major class of asset (in thousands) for these acquisitions:

Real estate assets	$	26,276
Lease-related intangible assets	2,001
Fair value of acquired net assets	$	28,277

Duke/Hulfish LLC [Member]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The computation of this gain is shown as follows (in thousands):

Fair value of one property received in non-cash distribution	$	63,000
Cash received at dissolution	2,760
Carrying value of investment in properties distributed to partners	(35,063		)
Gain on dissolution of unconsolidated company	$	30,697

Other 2016 Acquisitions [Member]

Summary of Allocation of Fair Value of Amounts Recognized

The following table summarizes the fair value of amounts recognized for each major class of asset (in thousands) for these acquisitions during 2016:

Real estate assets	$	94,783
Lease-related intangible assets	8,068
Fair value of acquired net assets	$	102,851

Duke/Quantico LLC [Member]

Summary of Significant Assumptions Utilized in Estimates

The range of the most significant assumptions utilized in making the lease-up and future disposition estimates used in calculating the "as-if vacant" value for acquisition activities during 2016 and 2015, respectively, are as follows:

Quantico Joint Venture Properties

	2016
	Low	High
Discount rate	8.00%	10.50%
Exit capitalization rate	6.50%	9.00%
Lease-up period (months)	12	36
Net rental rate per square foot - Industrial	$8.20	$8.50
Net rental rate per square foot - Office	$9.34	$18.54

Summary of Allocation of Fair Value of Amounts Recognized

The following table summarizes the fair value of the amounts recognized for each major class of assets for this acquisition as well as the computation of the gain on acquisition (in thousands):

Real estate assets	$	120,608
Lease-related intangible assets	16,724
Net working capital liabilities	(126		)
Fair value of acquired net assets	$	137,206
Less consideration transferred (CMBS loan payoff)	(131,250		)
Fair value of pre-existing equity interest	$	5,956
Less carrying value of investment in acquired properties	—
Gain on acquisition	$	5,956