Acquisitions, Disposals and Assets Held for Sale (Tables)

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disclosure of Long Lived Assets Held-for-sale [Table Text Block]

The following is a summary of assets held for sale:

Assets	Segment	Location	Total Square Feet		Assets Held for Sale		Liabilities Related to Assets Held for Sale
				(In thousands)
June 30, 2019
Pen Place (1)	Other	Arlington, Virginia	—		$	73,888	$	—
Metropolitan 6, 7 and 8 (1)	Other	Arlington, Virginia	—		94,543		—
			—		$	168,431	$	—
December 31, 2018
Commerce Executive / Commerce Metro Land (2)	Commercial	Reston, Virginia	388,562		$	78,981	$	3,717

_______________

⁽¹⁾  In March 2019, we entered into agreements for the sale of Pen Place and Metropolitan 6, 7 and 8, future development assets having an aggregate estimated potential development density of up to approximately 4.1 million square feet, for approximately $293.9 million, subject to customary closing conditions.

⁽²⁾ 

As noted above, we sold Commerce Executive/Commerce Metro Land in February 2019.

Disposal Groups, Including Discontinued Operations [Table Text Block]

The following is a summary of disposition activity for the six months ended June 30, 2019:

Date Disposed	Assets	Segment	Location	Total Square Feet	Gross Sales Price		Cash Proceeds from Sale		Gain on Sale of Real Estate
					(In thousands)
February 4, 2019	Commerce Executive / Commerce Metro Land (1) (2)	Commercial / Other	Reston, Virginia	388,562	$	114,950	$	117,676	$	39,033

______________

⁽¹⁾  The sale also included approximately 894,000 square feet of estimated potential development density. The sale was part of a reverse 1031 like-kind exchange. See Note 5 for additional information.

⁽²⁾  Cash proceeds include the reimbursement of $4.0 million of tenant improvement costs and leasing commissions paid by us prior to the closing.