Investment in Real Estate

3 Months Ended

Mar. 31, 2022

Acquisitions

During the three months ended March 31, 2022, we acquired two industrial properties comprised of approximately 0.04 million square feet of GLA and five 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 allocation of the aggregate purchase price to each major asset class for the industrial properties and land parcels acquired during the three months ended March 31, 2022:


Land	$	68,560
Building and Improvements	13,419
In-Place Leases	1,832
Above Market Leases	23
Below Market Leases	(673)
Other Assets	548

Total Purchase Price	$	83,709

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, 2022.