Held for Sale/Disposed Assets

12 Months Ended

Dec. 31, 2024

Held For Sale/Disposed Assets [Abstract]

Held for Sale/Disposed Assets

Held for Sale/Disposed Assets

As of December 31, 2024, the Company had entered into an agreement with a third-party purchaser to sell one building located in the San Francisco Bay Area market for a sales price of approximately $16.9 million (net book value of approximately $6.3 million). The sale of the property was subject to various closing conditions.

During the year ended December 31, 2024, the Company sold four properties for a total aggregate sales price of approximately $74.4 million, resulting in a total aggregate gain of approximately $45.4 million. The following table sets forth the markets in which the industrial properties were sold during 2024:

Market	Number of Properties	Total Sales Price		Total Gain
New York City/Northern New Jersey	1	$	29,800	$	17,200
Miami	1	20,600		14,500
San Francisco Bay Area	1	13,000		8,000
Seattle	1	11,000		5,700
Total	4	$	74,400	$	45,400

During the year ended December 31, 2023, the Company sold four properties for a total aggregate sales price of approximately $77.1 million, resulting in a total aggregate gain of approximately $38.2 million. The following table sets forth the markets in which the industrial properties were sold during 2023:

Market	Number of Properties	Total Sales Price		Total Gain
New York City/Northern New Jersey	2	$	43,200	$	21,900
Los Angeles	1	15,900		6,600
Washington, D.C.	1	18,000		9,700
Total	4	$	77,100	$	38,200

During the year ended December 31, 2022, the Company sold four properties for a total aggregate sales price of approximately $168.3 million, resulting in a total aggregate gain of approximately $112.2 million. The following table sets forth the markets in which the industrial properties were sold during 2022:

Market	Number of Properties	Total Sales Price		Total Gain
New York City/Northern New Jersey	3	$	159,700	$	107,100
Seattle	1	8,600		5,100
Total	4	$	168,300	$	112,200