Dispositions of properties

3 Months Ended

Mar. 31, 2016

Dispositions of properties

Dispositions and Discontinued Operations

8.  Dispositions of properties

The Company sold an office property located in Plano, Texas on February 23, 2015 at a $1.5 million gain, an office property located in Eden Prairie, Minnesota on March 31, 2015 at a $9.0 million gain,  an office property located in Charlotte, North Carolina on May 13, 2015 at a $0.9 million gain and an office property located in San Jose, California on December 9, 2015 at a $12.3 million gain.  During the three months ended March 31, 2016, the Company reached an agreement to sell an office property located in Maryland Heights, Missouri.  The property was classified as an asset held for sale at March 31, 2016 and was sold on April 5, 2016 at approximately a $4.1 million gain.  The disposal of the properties does not represent a strategic shift that has a major effect on the Company's operations and financial results.  Accordingly, the properties remain classified within continuing operations for all periods presented.