Assets Held for Sale and Discontinued Operations

9 Months Ended

Sep. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale and Discontinued Operations

Assets Held for Sale and Discontinued Operations

During 2013 we classified one of our properties as held for sale as we committed to an approved plan to seek to dispose of the property. The sale of the property is expected to occur within one year. As of December 31, 2012, there were no properties held for sale. The following table represents the major classes of assets and liabilities, and the balance sheet classification as of September 30, 2013 (in thousands):

	September 30, 2013
Land	$	5,109
Building and improvements, net	15,181
Lease intangibles, net	848
Property held for sale, net	$	21,138
Receivables and other assets, net	$	1,009
Non-real estate assets of property held for sale, net	$	1,009
Security deposits, prepaid rent and other liabilities	$	181
Security deposits, prepaid rent and other liabilities	$	181

The table below reflects the results of operations of the property classified as held for sale, which are included in discontinued operations for the three and nine months ended September 30, 2013 and 2012 (in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2013		2012			2013			2012
Revenues:
Rental income	$	443	$	566		$	1,257		$	1,697
Expenses:
Rental	63		65			200			216
Depreciation and amortization	—		230			171			688
Total expenses	63		295			371			904
Income before other income (expense)	380		271			886			793
Other income (expense):
Interest expense related to debt	—		(128		)	(161		)	(383		)
Income from discontinued operations	$	380	$	143		$	725		$	410