Assets Held for Sale and Discontinued Operations

12 Months Ended

Dec. 31, 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. The property is being marketed at a price we believe is consistent with its fair value. We will re-assess the classification as held for sale if it has not sold by the end of the first quarter of 2014. 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 December 31, 2013 (in thousands):

	December 31, 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	$	948
Non-real estate assets of property held for sale, net	$	948
Security deposits, prepaid rent and other liabilities	$	200
Security deposits, prepaid rent and other liabilities	$	200

The table below reflects the results of operations of the property classified as held for sale, which are included in discontinued operations for the years ended December 31, 2013, 2012 and 2011 (in thousands):

	Year Ended December 31,
	2013			2012			2011
Revenues	$	1,702		$	2,264		$	2,261
Expenses	434			1,182			1,268
Income before other income (expense)	1,268			1,082			993
Interest expense related to debt	(161		)	(514		)	(573		)
Income from discontinued operations	$	1,107		$	568		$	420