Property

9 Months Ended

Sep. 30, 2020

Real Estate [Abstract]

Property

Note 3. Property

Our property consists of the following (in thousands):

	September 30,		December 31,
	2020		2019
Land	$	928,510	$	911,521
Land held for development		39,912		40,667
Land under development		21,241		53,076
Buildings and improvements		3,010,980		2,898,867
Construction in-progress		199,840		241,118
Total	$	4,200,483	$	4,145,249

During the nine months ended September 30, 2020, we sold five centers and other property. Aggregate gross sales proceeds from these transactions approximated $98.3 million and generated gains of approximately $31.7 million. Also, during the nine months ended September 30, 2020, we acquired one grocery-anchored shopping center and other property with an aggregate gross purchase price of approximately $46.0 million, and we invested $71.0 million in new development projects.