Real Estate Properties

6 Months Ended

Jun. 30, 2017

Real Estate [Abstract]

Real Estate Properties

Real Estate Properties

During the six months ended June 30, 2017 and 2016, we made improvements, excluding tenant-funded improvements, to our properties totaling $31.8 million and $59.2 million, respectively.

Properties Held For Sale:

We classify all properties that meet the criteria outlined in the Property, Plant and Equipment Topic of the FASB ASC as held for sale on our condensed consolidated balance sheets.  As of December 31, 2016, we had no properties classified as held for sale. As of June 30, 2017, we classified the following properties as held for sale (dollars in thousands):

Asset	Date Sold	Number of Properties	Number of Buildings	Square Footage
Property
1500 Market Street	July 2017	1	1	1,759,193
Portfolio of properties
820 W. Diamond	—	1	1	134,933
Danac Stiles Business Park	—	1	3	276,637
411 Farwell Avenue	—	1	1	422,727
2250 Pilot Knob Road	—	1	1	87,183
4700 Belleview Avenue	—	1	1	80,615
Five Property Portfolio		5	7	1,002,095
		6	8	2,761,288

Summarized balance sheet information for the properties classified as held for sale is as follows (in thousands):

	June 30, 2017
Real estate properties	$	300,840
Acquired real estate leases	147
Rents receivable, net of allowance for doubtful accounts of $66	25,907
Other assets, net	21,309
Assets held for sale	$	348,203
Accounts payable and accrued expenses	$	1,054
Rent collected in advance	109
Security deposits	856
Liabilities related to properties held for sale	$	2,019

Property Dispositions:

During the six months ended June 30, 2017, we sold the following properties (dollars in thousands):

Asset	Date Sold	Number of Properties	Number of Buildings	Square Footage	Gross Sales Price		Gain (Loss) on Sale
Properties
111 Market Place	January 2017	1	1	589,380	$	60,100	$	(5,968	)
Cabot Business Park Land	March 2017	—	—	—	575		(57		)
Parkshore Plaza	April 2017	1	4	271,072	40,000		(2,460		)
25 S. Charles Street	April 2017	1	1	359,254	24,500		(3,483		)
802 Delaware Avenue	May 2017	1	1	240,780	34,000		9,079
Portfolios of properties
4515 Seton Center Parkway	March 2017	1	1	117,265
4516 Seton Center Parkway	March 2017	1	1	120,559
Seton Center		2	2	237,824	$	52,450	$	22,479
		6	9	1,698,310	$	211,625	$	19,590

During the year ended December 31, 2016, we sold 30 properties (62 buildings) with a combined 8.0 million square feet for an aggregate gross sales price of $1.3 billion, excluding closing costs.