Properties, net (Tables)

12 Months Ended

Dec. 31, 2013

Real Estate [Abstract]

Schedule of operating properties, net

Operating properties, net consisted of the following (in thousands): 

	December 31,
	2013			2012
Land	$	430,472		$	427,766
Buildings and improvements	2,869,870			2,725,875
Less: accumulated depreciation	(597,649		)	(555,975		)
Operating properties, net	$	2,702,693		$	2,597,666

Schedule of projects in development or held for future development

Projects we had in development or held for future development consisted of the following (in thousands): 

	December 31,
	2013		2012
Land	$	245,676	$	236,324
Construction in progress, excluding land	265,932		329,054
Projects in development or held for future development	$	511,608	$	565,378

Schedule of operating property dispositions

We completed dispositions of the following properties in 2013 primarily in connection with the Strategic Reallocation Plan (dollars in thousands):

Project Name	Location	Date of Sale	Number of Buildings	Total Rentable Square Feet	Transaction Value		Gain on Disposition
920 Elkridge Landing Road	Linthicum, MD	6/25/2013	1	103,000	$	6,900	$	—
4230 Forbes Boulevard	Lanham, MD	12/11/2013	1	56,000	5,600		1,507
December 2013 Colorado Springs Portfolio Disposition	Colorado Springs, CO	12/12/2013	15	1,165,000	133,925		1,164
December 2013 Portfolio Conveyance	Colorado Springs, CO and Linthicum, MD	12/23/2013	14	1,021,000	146,876		—
			31	2,345,000	$	293,301	$	2,671

We completed dispositions of the following properties in 2012 primarily in connection with the Strategic Reallocation Plan (dollars in thousands):

Project Name	Location	Date of Sale	Number of Buildings	Total Rentable Square Feet	Transaction Value		Gain on Disposition
White Marsh Portfolio Disposition	White Marsh, MD	1/30/2012	5	163,000	$	19,100	$	2,445
1101 Sentry Gateway	San Antonio, TX	1/31/2012	1	95,000	13,500		1,739
222 and 224 Schilling Circle	Hunt Valley, MD	2/10/2012	2	56,000	4,400		102
15 and 45 West Gude Drive	Rockville, MD	5/2/2012	2	231,000	49,107		—
11800 Tech Road	Silver Spring, MD	6/14/2012	1	240,000	21,300		—
400 Professional Drive	Gaithersburg, MD	7/2/2012	1	130,000	16,198		—
July 2012 Portfolio Disposition	Baltimore/Washington Corridor and Greater Baltimore	7/24/2012	23	1,387,000	161,901		16,900
			35	2,302,000	$	285,506	$	21,186

Schedule of operating property allocation costs

The table below sets forth the allocation of the acquisition costs of this property (in thousands):

Land, operating properties	$	3,507
Building and improvements	30,177
Intangible assets on real estate acquisitions	14,993
Total assets	48,677
Below-market leases	(369		)
Total acquisition cost	$	48,308

Schedule of allocation of intangible assets on acquisition of property

Intangible assets recorded in connection with the above acquisition included the following (dollars in thousands):

			Weighted Average Amortization Period (in Years)
Tenant relationship value	$	7,472	10
In-place lease value	7,109		5
Above-market leases	412		5
	$	14,993	7