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Investments in Real Estate (Tables)
 12 Months Ended
Dec. 31, 2022
Real Estate [Abstract]  
Schedule of properties under and completed redevelopment. The following table sets forth the wholly-owned industrial properties the Company acquired during the year ended December 31, 2022:
Property NameLocationAcquisition DateNumber of
Buildings		Square
Feet
Purchase Price
(in thousands)1
Improved Land Acreage
Countyline #29 & #30Hialeah, FLFebruary 9, 20222 407,000 $73,200 —
33rd PlaceBellevue, WAFebruary 23, 20222 29,000 13,040 1.2
NE 91stRedmond, WAApril 8, 20222 32,000 9,780 —
87 DoremusNewark, NJApril 18, 2022— — 17,300 9.7
3660 Thomas RoadSanta Clara, CAMay 4, 20221 135,000 54,600 —
127 Doremus AvenueNewark, NJMay 19, 2022— — 11,900 2.4
3660 Fee AnaAnaheim, CAMay 24, 2022— — 15,000 2.1
332 Hindry AvenueInglewood, CAMay 25, 20221 19,000 9,280 —
8320-8400 Isis AvenueLos Angeles, CAMay 25, 20221 40,000 17,902 —
TeagardenSan Leandro, CAJune 1, 20225 104,000 34,600 —
293 Roanoke AvenueNewark, NJJune 7, 2022— — 13,000 1.8
8660 Willows RoadRedmond, WAJune 17, 2022— — 19,900 3.5
8050 NW 90th StMedley, FLJuly 5, 2022— — 20,000 6.7
4857 W 147th StHawthorne, CAAugust 2, 2022— — 6,500 1.3
19500 South Alameda StRancho Dominguez, CAAugust 3, 2022— — 32,075 3.0
3091 East Coronado StAnaheim, CASeptember 6, 2022— — 7,325 1.2
7045 NW 46th StMiami, FLOctober 24, 20221 16,000 4,703 —
5401 West 104th StLos Angeles, CANovember 1, 20221 26,000 17,000 —
629 HenryElizabeth, NJNovember 29, 20221 23,000 15,350 —
14805 S Maple AveRancho Dominguez, CADecember 30, 2022— — 22,358 2.8
Total/Weighted Average17 831,000 $414,813 35.7
1Excludes intangible liabilities and mortgage premiums, if any. The total aggregate initial investment was approximately $422.3 million, including $13.0 million in capitalized closing costs and acquisition costs and $14.1 million in assumed intangible liabilities and $19.6 million in other credits related to near term capital expenditures at the Countyline #29 & #30 properties.
The following table sets forth the wholly-owned industrial properties the Company acquired during the year ended December 31, 2021:
Property NameLocationAcquisition DateNumber of
Buildings		Square
Feet
Purchase Price
(in thousands) 1
Improved Land Acreage
256 Paterson PlankCarlstadt, NJJanuary 13, 20211 16,159 $10,625 —
117th Place NEKirkland, WAFebruary 25, 20211 126,721 33,750 —
Countyline #24 & #25Hialeah, FLMarch 17, 20212 273,577 48,114 —
EdisonSan Leandro, CAMarch 31, 20213 112,392 17,600 —
73rd StreetMiami, FLApril 6, 2021— — 5,800 5.8
68th KentKent, WAApril 13, 20212 67,120 10,000 —
East GishSan Jose, CAApril 22, 2021— — 8,004 2.2
Gramercy PlaceTorrance, CAMay 12, 20211 17,407 6,290 —
Occidental AvenueSeattle, WAMay 12, 20213 51,853 16,450 —
SW 16th StreetRenton, WAJune 14, 2021— — 7,615 2.9
Countyline #26Hialeah, FLJuly 14, 20211 220,942 39,409 —
13020 & 13030 Cerise Hawthorne, CAJuly 14, 20212 21,846 8,075 —
1150 & 1250 W. Trenton AveOrange, CAJuly 30, 20212 34,224 9,335 —
MLK 9801Seattle, WAAugust 11, 2021— — 11,900 3.1
MLK 9845Seattle, WAAugust 11, 2021— — 15,750 3.4
MLK 9600Seattle, WAAugust 11, 2021— — 22,350 5.2
Foley StreetHayward, CAAugust 26, 20212 40,504 8,250 —
Paterson Plank IIICarlstadt, NJAugust 27, 2021— — 17,850 4.9
97 Third StreetKearny, NJSeptember 27, 2021— — 26,250 5.4
13025 CeriseHawthorne, CASeptember 30, 20211 21,000 7,875 —
WoodinvilleWoodinville, WAOctober 1, 20211 84,238 23,600 —
190 MorganBrooklyn, NYOctober 12, 20211 11,881 4,450 —
San PedroGardena, CAOctober 15, 2021— — 8,800 2.0
228 North AvenueElizabeth, NJOctober 20, 20211 30,978 44,000 —
PickettAlexandria, VAOctober 29, 20211 27,683 9,000 —
BerryessaSan Jose, CAOctober 29, 2021— — 23,000 7.2
768 772 CeresLos Angeles, CANovember 18, 20212 16,887 7,661 —
TuxedoHyattsville, MDNovember 23, 2021— — 8,000 2.9
Maple IIRancho Dominguez, CANovember 30, 2021— — 13,800 2.3
EisenhowerAlexandria, VADecember 10, 20213 199,396 60,750 —
4501 46th StreetBladensburg, MDDecember 13, 2021— — 11,850 4.4
Countyline #27 & #28Hialeah, FLDecember 15, 20212 401,906 74,142 —
Woodinville IIWoodinville, WADecember 23, 20212 118,310 33,500 —
WillowsRedmond, WADecember 27, 2021— — 3,500 0.8
Total/Weighted Average34 1,895,024 $657,345 52.5
1Excludes intangible liabilities and mortgage premiums, if any. The total aggregate initial investment was approximately $682.0 million, including $12.6 million in capitalized closing costs and acquisition costs and $34.2 million in assumed intangible liabilities and $22.1 million in other credits related to near term capital expenditures at the Countyline #24 & #25, Countyline #26 and Countyline #27 & #28 properties.
The following table summarizes certain information with respect to the properties under redevelopment as of December 31, 2022:
Property NameLocation
Total Expected
Investment (in
thousands) 1
Estimated Post-Development AcreageEstimated Post-Development Square Feet
Berryessa
San Jose, CA$25,961 7.2N/A
Paterson Plank III
Carlstadt, NJ25,303 4.9N/A
147th Street
Hawthorne, CA18,060 N/A34,000
Total/Weighted Average$69,324 12.134,000
1Total expected investment for the properties include the initial purchase price, buyer’s due diligence and closing costs, estimated near-term redevelopment expenditures, capitalized interest and leasing costs necessary to achieve stabilization.
The following table summarizes certain information with respect to the completed redevelopment properties as of December 31, 2022:
Property NameLocation
Total
Investment (in
thousands) 1
 Square FeetCompletion Quarter
America's GatewayMiami, FL$7,500 51,800Q1 2022
Countyline #29 & #30Hialeah, FL75,539 407,084Q2/Q3 2022
73rd StreetMiami, FL20,200 128,844Q3 2022
Total/Weighted Average$103,239 587,728
1Total investment for the properties include the initial purchase price, buyer’s due diligence and closing costs, redevelopment expenditures, capitalized interest and leasing costs necessary to achieve stabilization.