Investment in Real Estate (Tables)

3 Months Ended

Mar. 31, 2018

Investment in Real Estate

Summary of properties owned or leased

The following is a summary of the properties owned or leased by market at March 31, 2018 (in thousands):

			Buildings and		Construction in
Market	Land		Improvements		Progress		Total Cost
Boston	$	5,154	$	106,651	$	146	$	111,951
Chicago(1)		5,493		112,634		4,792		122,919
Denver		—		19,682		2,827		22,509
Los Angeles		28,467		324,173		6,880		359,520
Miami		728		11,627		691		13,046
New York		2,388		134,770		42,011		179,169
Northern Virginia		23,679		324,276		45,122		393,077
San Francisco Bay		31,386		618,154		19,520		669,060
Total	$	97,295	$	1,651,967	$	121,989	$	1,871,251

On January 29, 2018, we acquired a two-acre land parcel located in downtown Chicago, Illinois, for a purchase price of $4.5 million. We expect to build a 175,000 square foot turn-key data center building on the acquired land parcel, which we refer to as CH2, upon the receipt of necessary permits and entitlements.