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ASSET HELD FOR SALE
3 Months Ended
Mar. 31, 2018
Asset Held For Sale Current [Abstract]  
ASSET HELD FOR SALE

7. ASSET HELD FOR SALE

The Company owned a facility located at 1749 SW Airport Avenue, Corvallis, OR (“Airport Facility”). The Airport Facility was previously leased to an unrelated third party. In July 2016, the third party lessee terminated the lease and vacated the facility. The Company set up a program to actively market the Airport Facility. Accordingly, the Airport Facility with net book value of approximately $1.5 million was reclassified as an asset held for sale which is presented as a component of other current assets. In August 2017, the Company entered into a purchase and sale agreement with an unrelated third-party buyer. The sale price of as well as fees related to the Airport Facility were approximately $1.5 million and $0.2 million, respectively. The transaction was completed in January 2018 when cash was received and the two mortgage loans associated with the facility were repaid. For more information regarding the two mortgage loans, please read Note 10, Indebtedness.