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Subsequent Events
 3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On April 12, 2024, the Company commenced development of Countyline Building 31 in Hialeah, Florida. Upon completion, which is expected to occur in the fourth quarter of 2024, Countyline Building 31 will consist of one approximately 162,000 square foot industrial building with a total expected investment of approximately $42.1 million. The building is 100% pre-leased. The lease will commence upon completion of the building and will expire in May 2032.
On April 15, 2024, the Company acquired one industrial property in Alexandria, Virginia for a total purchase price of approximately $84.3 million. The property was acquired from an unrelated third party using existing cash on hand.
On April 23, 2024, the Company completed the development of Countyline Building 38 in Hialeah, Florida. Countyline Building 38 consists of one approximately 506,000 square foot industrial building with a total investment of approximately $88.5 million. The building is 100% leased through November 2034.
On May 2, 2024, the Company acquired a portfolio of industrial properties located in New York City, Northern New Jersey, San Francisco Bay Area and Los Angeles for a total purchase price of approximately $364.5 million. The portfolio is comprised of 28 buildings totaling approximately 1.2 million square feet.
On May 7, 2024, the Company’s board of directors declared a cash dividend in the amount of $0.45 per share of its common stock payable on July 12, 2024 to the stockholders of record as of the close of business on June 28, 2024.