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Investments in Real Estate (Tables)
 12 Months Ended
Dec. 31, 2020
Real Estate Investments, Net [Abstract]  
Schedule of Net Real Estate
The Company's real estate, net, consists of the following at December 31, 2020 and 2019:
20202019
Real estate, at cost:
Buildings and building improvements
$3,144,176 $2,962,982 
Land, land estates and land improvements
367,272 355,697 
Construction in progress
3,116 1,895 
Real estate intangibles:
In-place lease values
357,640 339,154 
Tenant relationships
33,327 42,396 
Above-market leases
18,326 28,206 
Investments in real estate under construction75,906 13,313 
3,999,763 3,743,643 
Accumulated depreciation and amortization(1)
(884,465)(887,629)
Real estate, net $3,115,298 $2,856,014 
(1)    Includes accumulated amortization of real estate intangible assets of $199,997 and $212,033 in 2020 and 2019, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $32,240 in 2021, $30,559 in 2022, $29,560 in 2023, $23,801 in 2024 and $19,802 in 2025.
As of December 31, 2020, the details of the development arrangements outstanding are as follows (in $000's, except square feet):
Project (% owned)MarketProperty TypeEstimated Sq. Ft. Estimated Project Cost GAAP Investment Balance as of
12/31/2020		Amount Funded as of
12/31/2020		Estimated Completion Date% Leased as of
12/31/2020		Approximate Lease Term (Years)
KeHE Distributors, BTS (100%)
Phoenix, AZ Industrial468,182 $72,000 $19,609 $17,766 3Q 2021100 %15
Fairburn JV (90%)(1)
Atlanta, GAIndustrial910,000 53,812 39,824 33,195 1Q 20210 %TBD
Rickenbacker (100%)
Columbus, OHIndustrial320,190 20,300 16,473 12,225 2Q 2021100 %3
$146,112 $75,906 $63,186 
(1)    Estimated project cost excludes potential developer partner promote.
Schedule of Acquired Properties
The Company completed the following acquisitions during 2020 and 2019:
2020:
Property TypeMarketAcquisition DateInitial
Cost
Basis		Lease
Expiration		LandBuilding and ImprovementsLease in-place Value Intangible
IndustrialChicago, ILJanuary 2020$53,642 11/2029$3,681 $45,817 $4,144 
IndustrialPhoenix, AZJanuary 202019,164 12/20251,614 16,222 1,328 
IndustrialChicago, ILJanuary 202039,153 12/20291,788 34,301 3,064 
IndustrialDallas, TXFebruary 202083,495 08/20294,500 71,635 7,360 
IndustrialSavannah, GAApril 202034,753 07/20271,689 30,346 2,718 
IndustrialDallas, TXMay 202010,731 06/20301,308 8,466 957 
IndustrialSavannah, GAJune 202030,448 06/20252,560 25,697 2,191 
IndustrialSavannah, GAJune 20209,130 08/20251,070 7,448 612 
IndustrialHouston, TXJune 202020,949 04/20252,202 17,101 1,646 
IndustrialOcala, FLJune 202058,283 08/20304,113 49,904 4,266 
IndustrialDC/Baltimore, MDSeptember 202029,143 11/20242,818 24,423 1,902 
IndustrialSavannah, GASeptember 202040,908 07/20263,775 34,322 2,811 
IndustrialPhoenix, AZNovember 202087,820 03/203310,733 69,491 7,596 
IndustrialDallas, TXDecember 202044,030 10/20243,938 37,185 2,907 
IndustrialGreenville/Spartanburg, SCDecember 202018,595 02/20311,186 15,814 1,595 
Industrial Dallas, TX December 202031,556 01/20303,847 25,038 2,671 
$611,800 $50,822 $513,210 $47,768 
Weighted-average life of intangible assets (years)8.7
2019:
Real Estate Intangibles
Property TypeLocationAcquisition DateInitial
Cost
Basis		Lease ExpirationLand Building and ImprovementsLease in-place Value IntangibleBelow Market Lease Intangible
IndustrialIndianapolis, INJanuary 2019$20,809 07/2025$1,954 $16,820 $2,035 $— 
IndustrialAtlanta, GAFebruary 201937,182 10/20233,253 30,951 2,978 — 
IndustrialDallas, TXApril 201928,201 08/20232,420 23,330 2,451 — 
IndustrialGreenville/Spartanburg, SCApril 201933,253 01/20241,615 27,829 3,809 — 
IndustrialMemphis, TNMay 201949,395 04/20242,646 40,452 6,297 — 
IndustrialMemphis, TNMay 201918,316 05/2023851 15,465 2,000 — 
IndustrialAtlanta, GAJune 201945,441 05/20203,251 40,023 2,167 — 
IndustrialAtlanta, GAJune 201927,353 05/20242,536 22,825 1,992 — 
IndustrialCincinnati, OHSeptember 201913,762 12/2023544 12,376 842 — 
IndustrialCincinnati, OHSeptember 2019100,288 06/20303,950 88,427 7,911 — 
IndustrialCincinnati, OHSeptember 201965,763 08/20273,123 60,703 5,392 (3,455)
IndustrialGreenville/Spartanburg, SCOctober 201916,817 01/20241,406 14,272 1,139 — 
IndustrialGreenville/Spartanburg, SCOctober 201915,583 04/20251,257 13,252 1,074 — 
IndustrialPhoenix, AZOctober 201921,020 09/20263,311 16,013 1,696 — 
IndustrialPhoenix, AZNovember 201967,079 09/203011,970 48,924 6,185 — 
IndustrialChicago, ILDecember 201949,348 09/20293,432 40,947 4,969 — 
IndustrialGreenville/Spartanburg, SCDecember 201994,233 12/20346,959 78,364 8,910 — 
$703,843 $54,478 $590,973 $61,847 $(3,455)
Weighted-average life of intangible assets (years)8.48.0