Real Estate and Other Assets Held For Sale and Discontinued Operations

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Real Estate and Other Assets Held For Sale and Discontinued Operations

As of December 31, 2015 and 2014, real estate and other assets, net, held for sale and liabilities held for sale included 776,000 square feet of in-service retail space, 468,000 square feet of in-service office space and a 28,000 square foot retail redevelopment project in Kansas City. This planned sale represents a strategic shift in operations as the retail and office space in our Kansas City division are a major line of the Company's business. As such, the revenues and expenses related to these properties have been reclassified to income from discontinued operations on our Consolidated Statements of Income and the related assets and liabilities have been reclassified to real estate and other assets, net, held for sale and liabilities held for sale, respectively, on our Consolidated Balance Sheets. The following tables set forth the assets and liabilities related to discontinued operations at December 31, 2015 and 2014 and the results of operations and cash flows for the years ended December 31, 2015, 2014 and 2013:

	December 31,
	2015			2014
Assets:
Land	$	16,681		$	16,406
Buildings and tenant improvements	322,811			313,323
Development in-process	—			4,562
Land held for development	1,089			2,084
Less-accumulated depreciation	(131,274		)	(131,419		)
Net real estate assets	209,307			204,956
Accrued straight-line rents receivable, net	11,730			11,643
Deferred leasing costs, net	6,690			6,320
Prepaid expenses and other assets, net	13,221			13,896
Real estate and other assets, net, held for sale	$	240,948		$	236,815
Liabilities:
Accounts payable, accrued expenses and other liabilities	$	(6,717	)	$	(6,151	)
Financing obligation	(7,402		)	(8,962		)
Liabilities held for sale	$	(14,119	)	$	(15,113	)

	Year Ended December 31,
	2015		2014		2013
Rental and other revenues	$	50,935	$	52,597	$	72,614
Operating expenses:
Rental property and other expenses	20,805		19,620		27,440
Depreciation and amortization	14,039		15,386		19,773
General and administrative	2,366		965		812
Total operating expenses	37,210		35,971		48,025
Interest expense	621		725		817
Other income	2,635		2,700		3,086
Income from discontinued operations	15,739		18,601		26,858
Impairments of real estate assets	—		—		(2,194		)
Net gains on disposition of discontinued operations	—		384		63,792
Total income from discontinued operations	$	15,739	$	18,985	$	88,456

	Year Ended December 31,
	2015			2014			2013
Cash flows from operating activities	$	27,579		$	32,485		$	32,644
Cash flows from investing activities	$	(16,445	)	$	(8,279	)	$	(7,482	)