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Note 3 - Real Estate - Acquisition of Operating Properties (Details)
$ in Thousands
6 Months Ended
Jun. 30, 2021
USD ($)
ft²
Purchase price, cash $ 86,312
Purchase price, other consideration 17,688 [1]
Purchase price, total $ 104,000
GLA (Square Foot) | ft² 1,435 [2]
Distribution Center 1 [Member] | Lancaster, CA [Member]  
Purchase price, cash $ 58,723
Purchase price, other consideration 11,277 [1]
Purchase price, total $ 70,000
GLA (Square Foot) | ft² 927 [2]
Distribution Center 2 [Member] | Woodland, CA [Member]  
Purchase price, cash $ 27,589
Purchase price, other consideration 6,411 [1]
Purchase price, total $ 34,000
GLA (Square Foot) | ft² 508 [2]
[1] Consists of the fair value of the assets acquired which exceeded the purchase price upon closing. The transaction was a sale-leaseback with the seller which resulted in the recognition of a prepayment of rent of $17.7 million in accordance with ASC 842, Leases at closing. The prepayment of rent will be amortized over the initial term of the lease through Revenues from rental properties, net on the Company's Condensed Consolidated Statements of Income. See Footnote 10 of the Company’s Condensed Consolidated Financial Statements for additional discussion regarding fair value allocation of partnership interest for noncontrolling interests.
[2] Gross leasable area ("GLA")