Investment in Real Estate

3 Months Ended

Mar. 31, 2020

Acquisitions

During the three months ended March 31, 2020, we acquired four industrial properties comprised of approximately 0.8 million square feet of GLA and two land parcels. We accounted for the properties and land parcels as asset acquisitions and therefore capitalized transaction costs to the basis of the acquired assets. The following table summarizes the amounts recognized for each major asset class for the industrial properties and land parcels acquired during the three months ended March 31, 2020:



Land	$	83,511
Building and Improvements/Construction in Progress	56,048
In-Place Leases	981
Above Market Leases	134
Below Market Leases	(770		)
Other Assets (leasing commissions)	37
Total Purchase Price	$	139,941

The revenue and net income associated with the acquisition of the industrial properties and land parcels, since their respective acquisition dates, are not significant to the three months ended March 31, 2020.

Real Estate Held for Sale

As of March 31, 2020, we had two industrial properties comprised of approximately 0.2 million square feet of GLA held for sale.

Sales

During the three months ended March 31, 2020, we sold nine industrial properties comprised of approximately 0.2 million square feet of GLA. Gross proceeds from the sales were $26,500. The gain on sale of real estate attributable to these sales was $13,993.