Investment in Real Estate

3 Months Ended

Mar. 31, 2021

Acquisitions

During the three months ended March 31, 2021, we acquired one industrial property comprised of approximately 0.1 million square feet of GLA and three land parcels. We accounted for the property and land parcels as asset acquisitions and therefore capitalized transaction costs to the basis of the acquired assets. The following table summarizes the allocation of the aggregate purchase price to each major asset class for the industrial property and land parcels acquired during the three months ended March 31, 2021:


Land	$	17,049
Building and Improvements	7,036





Total Purchase Price	$	24,085

The revenue and net income associated with the acquisition of the industrial property and land parcels, since their respective acquisition dates, are not significant to the three months ended March 31, 2021.

Real Estate Held for Sale

As of March 31, 2021, we had one land parcel held for sale.

Sales

During the three months ended March 31, 2021, we sold three industrial properties and two industrial condominium units comprised of approximately 1.1 million square feet of GLA. Gross proceeds from the sales were $67,212. The gain on sale of real estate attributable to these sales was $34,645.