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Disposition and Assets Held for Sale (Tables)
6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Summary of disposition activity

The following is a summary of disposition activity for the six months ended June 30, 2020:

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Gain on

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Total

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Gross

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Cash

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Sale of

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Square

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Sales

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Proceeds

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Real

Date Disposed

    

Assets

    

Segment

    

Location

    

Feet

    

Price

    

from Sale

    

Estate

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(In thousands)

January 15, 2020

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Metropolitan Park (1)

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Other

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Arlington, Virginia

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2,150

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$

154,952

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$

154,493

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$

59,477

(1)The property, which was sold to Amazon, was part of a like-kind exchange. See Note 5 for additional information. Total square feet represents potential development density approved by Arlington County.
Summary of assets held for sale

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Total

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Assets Held

Assets

    

Segment

    

Location

    

Square Feet (1)

    

for Sale

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(In thousands)

June 30, 2020

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Pen Place (2)

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Other

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Arlington, Virginia

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2,080

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$

73,876

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December 31, 2019

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Pen Place (2)

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Other

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Arlington, Virginia

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2,080

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$

73,895

Metropolitan Park (3)

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Other

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Arlington, Virginia

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2,150

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94,517

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4,230

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$

168,412

(1)Represents estimated or approved potential development density.
(2)In March 2019, we entered into an agreement for the sale of Pen Place for $149.9 million, subject to customary closing conditions. The sale of Pen Place to Amazon is expected to close in 2021.
(3)As noted above, we sold Metropolitan Park to Amazon in January 2020.