Discontinued Operations

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS [Text Block]

DISCONTINUED OPERATIONS

The Company had no property dispositions classified as discontinued operations during the three and nine months ended September 30, 2014. There was nominal income before gain on sales recognized during 2014 relating to properties classified into discontinued operations in prior periods and a $0.9 million gain relating to the post closing activity for the sale of the Princeton Pike Corporate Center completed in the first quarter of 2013. See Note 3 for further information.

For the three and nine-month periods ended September 30, 2013, income from discontinued operations relates to the 14 properties sold by the Company from January 1, 2013 through December 31, 2013. The following table summarizes the revenue and expense information for properties classified as discontinued operations for the three and nine-month periods ended September 30, 2013 (in thousands):

	Three-month period ended September 30, 2013			Nine-month period ended September 30, 2013
Revenue:
Rents	$	96		$	4,754
Tenant reimbursements	10			355
Termination fees	—			—
Other	—			123
Total revenue	106			5,232
Expenses:
Property operating expenses	62			1,773
Real estate taxes	39			623
Depreciation and amortization	48			1,893
Total operating expenses	149			4,289
Other income:
Interest income	—			3
Income from discontinued operations before gain on sale of interests in real estate	(43		)	946
Net gain on disposition of discontinued operations	(16		)	3,029
Income from discontinued operations	$	(59	)	$	3,975

Discontinued operations have not been segregated in the consolidated statements of cash flows. Therefore, amounts for certain captions will not agree with respective data in the consolidated statements of operations.