Real Estate Investments (Tables)

6 Months Ended

Jun. 30, 2019

Real Estate [Abstract]

Gross Carrying Value of Operating Properties

As of June 30, 2019 and December 31, 2018, the gross carrying value of the operating properties was as follows (in thousands):

	June 30, 2019		December 31, 2018
Land	$	487,209	$	486,068
Building and improvements		3,091,570		3,050,122
Tenant improvements		451,826		415,529
Total	$	4,030,605	$	3,951,719

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 six months ended June 30, 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		-		-		-		-		500	(a)
Total Dispositions				1		2.7	$	5,325	$	5,023	$	1,251

(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 $0.5 million has been received during the six months ended June 30, 2019.