Investment in Real Estate (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Acquisition Purchase Price Allocation

The purchase price of the industrial properties and land parcels acquired for the years ended December 31, 2014 and 2013, was allocated as follows:



	Year Ended December 31, 2014		Year Ended December 31, 2013
Land	$	39,739	$	34,518
Building and Improvements	44,070		33,244
Other Assets	1,863		517
Deferred Leasing Intangibles, Net	10,020		4,533
Total Purchase Price	$	95,692	$	72,812

Summary of Intangible Assets (Liabilities) Subject to Amortization in Period of Acquisition

The fair value at the date of acquisition of in-place leases, tenant relationships, a below market ground lease obligation and above and below market leases recorded due to the real estate properties acquired for the years ended December 31, 2014 and 2013, which are recorded as deferred leasing intangibles, is as follows:



	Year Ended December 31, 2014			Year Ended December 31, 2013
In-Place Leases	$	5,350		$	2,807
Tenant Relationships	$	3,440		$	1,914
Above Market Leases	$	316		$	—
Below Market Ground Lease Obligation	$	1,854		$	—
Below Market Leases	$	(940	)	$	(188	)

The weighted average life, in months, of in-place leases, tenant relationships, a below market ground lease obligation and above and below market leases recorded at the time of acquisition as a result of the real estate properties acquired for the years ended December 31, 2014 and 2013 is as follows:



	Year Ended December 31, 2014	Year Ended December 31, 2013
In-Place Leases	74	52
Tenant Relationships	131	112
Above Market Leases	66	N/A
Below Market Ground Lease Obligation	480	N/A
Below Market Leases	79	52

Summary Regarding Industrial Properties Included in Discontinued Operations

The following table discloses certain information regarding the industrial properties included in our discontinued operations for the years ended December 31, 2014, 2013 and 2012:



	Year Ended December 31,
	2014			2013			2012
Total Revenues	$	7,007		$	20,727		$	31,457
Property Expenses	(2,784		)	(8,126		)	(12,269		)
Impairment of Real Estate	—			(2,652		)	(1,438		)
Depreciation and Amortization	(2,388		)	(7,727		)	(11,648		)
Gain on Sale of Real Estate	25,988			34,344			12,665
Income from Discontinued Operations	$	27,823		$	36,566		$	18,767

Net Non-Cash Impairment Charges

During the years ended December 31, 2013 and 2012, we recorded the following net non-cash impairment charges (reversals):



	Year Ended December 31, 2013		Year Ended December 31, 2012
Sold Operating Properties - Discontinued Operations	$	2,652	$	1,438
Operating Properties - Continuing Operations	—		(192		)
Total Net Impairment	$	2,652	$	1,246

- 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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