Investment in Real Estate (Tables)

3 Months Ended

Mar. 31, 2019

The following is a summary of the properties owned or leased by market at March 31, 2019 (in thousands):


			Buildings and		Construction in
Market	Land		Improvements		Progress		Total Cost
Boston	$	5,154	$	109,526	$	678	$	115,358
Chicago		5,493		114,188		26,362		146,043
Denver		-		31,848		175		32,023
Los Angeles		18,672		339,080		67,173		424,925
Miami		728		14,166		42		14,936
New York		2,729		153,246		34,680		190,655
Northern Virginia		22,793		347,340		127,278		497,411
San Francisco Bay(1)		31,386		628,573		108,070		768,029
Total	$	86,955	$	1,737,967	$	364,458	$	2,189,380

(1)

On April 12, 2019, we acquired a 3.8-acre land parcel with a single-story office building located adjacent to our Santa Clara campus for a purchase price of $26 million. We expect to develop an approximately 200,000 NRSF turn-key data center building on the acquired land parcel, which we refer to as SV9, as the existing office tenants vacate upon expiration of their leases and upon the receipt of necessary entitlements.