Investment in Real Estate (Tables)

9 Months Ended

Sep. 30, 2013

Investment in Real Estate [Abstract]

Summary Regarding Industrial Properties Included in Discontinued Operations

The following table discloses certain information regarding the industrial properties included in discontinued operations for the three and nine months ended September 30, 2013 and 2012:



	Three Months Ended September 30, 2013			Three Months Ended September 30, 2012			Nine Months Ended September 30, 2013			Nine Months Ended September 30, 2012
Total Revenues	$	249		$	3,249		$	2,752		$	12,087
Property Expenses	26			(1,273		)	(1,032		)	(4,920		)
Impairment of Real Estate	—			—			(176		)	(1,503		)
Depreciation and Amortization	(59		)	(1,010		)	(816		)	(3,927		)
Gain on Sale of Real Estate	5,243			4,420			15,650			12,005
Income from Discontinued Operations	$	5,459		$	5,386		$	16,378		$	13,742

Net Non-Cash Impairment Charges

During the three and nine months ended September 30, 2013 and 2012, we recorded the following net non-cash impairment charges:



	Three Months Ended September 30, 2013		Three Months Ended September 30, 2012		Nine Months Ended September 30, 2013		Nine Months Ended September 30, 2012
Sold or Held for Sale Operating Properties—Discontinued Operations	$	—	$	—	$	176	$	1,503
Operating Properties Not Held For Sale—Continuing Operations	1,047		—		2,476		(257		)
Total Net Impairment	$	1,047	$	—	$	2,652	$	1,246

Fair Value Measurements on a Nonrecurring Basis

The following table presents information about our real estate assets that were measured at fair value on a non-recurring basis during the nine months ended September 30, 2013. The table indicates the fair value hierarchy of the valuation techniques we utilized to determine fair value.



	Fair Value Measurements on a Non-Recurring Basis Using:
Description	At September 30, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Unobservable Inputs (Level 3)		Total Impairment for the Nine Months Ended
Long-lived Assets Not Held For Sale*	$	6,875	—	—	$	6,875	$	(1,047	)
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* Excludes industrial properties for which impairment of $1,605 was recorded during the nine months ended September 30, 2013 since the related assets are sold or recorded at carrying value, which is lower than estimated fair value at September 30, 2013.

Quantitative Information about Level 3 Fair Value Measurements

The following table presents quantitative information about the Level 3 fair value measurements at September 30, 2013.



Quantitative Information about Level 3 Fair Value Measurements:
Description	Fair Value		Valuation Technique	Unobservable Inputs	Range
One industrial property comprising approximately 0.5 million square feet of GLA	$	6,875	Contracted Price	(A)	N/A

(A) The fair value for the property is based upon the value of a third party purchase contract, which is subject to our corroboration for reasonableness.

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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