DISPOSITIONS

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

DISPOSITIONS

4. DISPOSITIONS

In April 2014, the Company sold to third-parties, 20 industrial buildings aggregating 2.8 million square feet for net proceeds of $125.3 million, which were previously classified as held for sale. Of these dispositions: (i) one building totaling 1.3 million square feet was located in the Atlanta market; (ii) five buildings totaling 0.9 million square feet were located in the Dallas market; (iii) 13 buildings totaling 0.5 million square feet were located in the Portland market; and (iv) one building totaling 0.1 million square feet was located in the Tampa market.

Gains on the disposition of real estate are recorded when the recognition criteria have been met, generally at the time title is transferred, and the Company no longer has substantial continuing involvement with the real estate sold.