Real Estate Acquisitions

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Real Estate Acquisitions

Real Estate Acquisitions

During the first quarter of 2019, the Company acquired two real estate properties totaling approximately 83,000 square feet for an aggregate purchase price and cash consideration of approximately $32.7 million. Upon acquisition, the properties were 100% leased in the aggregate with lease expirations in 2029. Amounts reflected in revenues and net income for the three months ended March 31, 2019 for these properties were approximately $0.4 million and $0.2 million, respectively. Transaction costs totaling approximately $0.1 million related to these asset acquisitions were capitalized in the period and included in real estate assets.