Disposition and Assets Held for Sale (Tables)

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Summary of disposition activity

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

									Gain on
				Total	Gross		Cash		Sale of
				Square	Sales		Proceeds		Real
Date Disposed	Assets	Segment	Location	Feet	Price		from Sale		Estate
				(In thousands)
January 15, 2020	Metropolitan Park (1)	Other	Arlington, Virginia	2,150	$	154,952	$	154,493	$	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

			Total	Assets Held
Assets	Segment	Location	Square Feet (1)	for Sale
			(In thousands)
September 30, 2020
Pen Place (2)	Other	Arlington, Virginia	2,080	$	74,089
December 31, 2019
Pen Place (2)	Other	Arlington, Virginia	2,080	$	73,895
Metropolitan Park (3)	Other	Arlington, Virginia	2,150		94,517
			4,230	$	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. We expect the sale of Pen Place to Amazon to close in 2021.

(3) As noted above, we sold Metropolitan Park to Amazon in January 2020.