Real Estate Investments (Tables)

3 Months Ended

Mar. 31, 2019

Real Estate [Abstract]

Gross Carrying Value of Operating Properties

As of March 31, 2019 and December 31, 2018, the gross carrying value of the operating properties was as follows (in thousands):

	March 31, 2019		December 31, 2018
Land	$	509,503	$	508,363
Building and improvements		3,068,255		3,029,427
Tenant improvements		438,121		415,529
Total	$	4,015,879	$	3,953,319

Summary of Gain on Sale for Each Land Parcel

The Company sold the following land parcel and recognized a gain on a property sold in a prior year during the three-month period ended March 31, 2019 (dollars in thousands):

Disposition Date	Property/Portfolio Name	Location	Number of Parcels		Acres		Sales Price		Net Proceeds on Sale		Gain on Sale
March 15, 2019	9 Presidential Boulevard	Bala Cynwyd, PA		1		2.7	$	5,325	$	5,023	$	751
January 8, 2015	Libertyview	Cherry Hill, NJ		-		-		-		250		250	(a)
Total Dispositions				1		2.7	$	5,325	$	5,273	$	1,001

(a) As of January 2019, the Company will receive an additional $1.0 million of contingent consideration. The Company will recognize this consideration on a cash basis due to uncertainty of collectability. The $1.0 million consideration is payable to the Company in twelve equal installments, of which $0.3 million has been received during the three-month period ended March 31, 2019.