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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
USD ($)
ft²
Integer
Jun. 30, 2022
USD ($)
Jun. 30, 2023
USD ($)
ft²
Integer
Jun. 30, 2022
USD ($)
Dec. 31, 2022
USD ($)
ft²
Integer
shares
Property Acquisition [Line Items]          
Amortization expense for lease intangibles $ 2,174,000 $ 2,198,000 $ 4,136,000 $ 4,663,000  
Above and below market lease intangibles incremental increase to rental Income 696,000 $ 507,000 1,295,000 1,352,000  
Land 776,357,000   776,357,000   $ 730,445,000
Building and building improvements 3,139,436,000   3,139,436,000   3,012,319,000
Tenant and other improvements 659,997,000   659,997,000   633,817,000
In-place lease intangibles 36,115,000   36,115,000   $ 37,181,000
Debt assumed in the purchase of real estate     0 $ 60,000,000  
Real Estate Properties [Domain] | Speed Distribution Center          
Property Acquisition [Line Items]          
Ownership Percentage by Noncontrolling Owners, acquired during period         1.00%
Asset Acquisition, Consideration Transferred, Transaction Cost         $ 18,599,000
2022 operating property acquisitions          
Property Acquisition [Line Items]          
Size (square feet) | ft² [1]         1,706,000
Cost of property acquired [1],[2]         $ 359,130,000
2022 operating property acquisitions | Cebrian Distribution Center and Reed Distribution Center          
Property Acquisition [Line Items]          
Size (square feet) | ft² [1],[3]         329,000
Date Acquired [1],[3]         Jun. 01, 2022
Cost of property acquired [1],[2],[3]         $ 49,726,000
2022 operating property acquisitions | 6th Street Bus Cntr, Benicia Distrib Cntr 1-5, Ettie Bus Cntr, Laura Alice Bus Cntr, Preston Distrb Cntr, Sinclair Distrib Cntr, Transit Distrb Cntr and Whipple Bus Cntr          
Property Acquisition [Line Items]          
Size (square feet) | ft² [1],[3]         1,377,000
Date Acquired [1],[3]         Jun. 01, 2022
Cost of property acquired [1],[2],[3]         $ 309,404,000
2022 Value-Add Property Acquisitions          
Property Acquisition [Line Items]          
Size (square feet) | ft² [4]         1,044,000
Cost of property acquired [2],[4]         $ 122,921,000
2022 Value-Add Property Acquisitions | Cypress Preserve 1 & 2          
Property Acquisition [Line Items]          
Size (square feet) | ft² [4]         516,000
Date Acquired [4]         Mar. 28, 2022
Cost of property acquired [2],[4]         $ 54,462,000
2022 Value-Add Property Acquisitions | Zephyr Distribution Center          
Property Acquisition [Line Items]          
Size (square feet) | ft² [4]         82,000
Date Acquired [4]         Apr. 08, 2022
Cost of property acquired [2],[4]         $ 29,017,000
2022 Value-Add Property Acquisitions | Mesa Gateway Commerce Park          
Property Acquisition [Line Items]          
Size (square feet) | ft² [4]         147,000
Date Acquired [4]         Apr. 15, 2022
Cost of property acquired [2],[4]         $ 18,315,000
2022 Value-Add Property Acquisitions | Access Point 3          
Property Acquisition [Line Items]          
Size (square feet) | ft² [4]         299,000
Date Acquired [4]         Jul. 12, 2022
Cost of property acquired [2],[4]         $ 21,127,000
2022 Acquisitions          
Property Acquisition [Line Items]          
Size (square feet) | ft²         2,750,000
Cost of property acquired [2]         $ 482,051,000
Land         127,402,000
Building and building improvements         335,335,000
Tenant and other improvements         11,502,000
Total real estate properties acquired         474,239,000
In-place lease intangibles [5]         11,871,000
Assets acquired, net of liabilities assumed         $ 482,051,000
Weighted average remaining lease term of acquired properties         3 years 10 months 24 days
2022 Acquisitions | Leases, Acquired-in-Place, Market Adjustment          
Property Acquisition [Line Items]          
Below market lease intangibles [6]         $ (4,059,000)
2022 Acquisitions | Tulloch Corporation          
Property Acquisition [Line Items]          
Debt assumed in the purchase of real estate         $ 60,000,000
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Common Shares Issued | shares         1,868,809
Fair value of common shares issued, asset acquisition         $ 303,756,000
Fair value of loans ssumed, asset acquisition         $ 60,000,000
Number of land parcels acquired | Integer         2
2022 development land acquisitions          
Property Acquisition [Line Items]          
Acres of real estate investment property | ft²         456.3
Number of markets in which land was acquired | Integer         10
Payments to Acquire Land         $ 123,717,000
2023 Acquisitions          
Property Acquisition [Line Items]          
Land 13,913,000   13,913,000    
Building and building improvements 18,202,000   18,202,000    
Tenant and other improvements 646,000   646,000    
Total real estate properties acquired 32,761,000   32,761,000    
In-place lease intangibles [5] 1,604,000   1,604,000    
Assets acquired, net of liabilities assumed $ 34,365,000   $ 34,365,000    
Weighted average remaining lease term of acquired properties 10 years 1 month 6 days   10 years 1 month 6 days    
2023 Operating Property Acquisitions | Craig Corporate Center          
Property Acquisition [Line Items]          
Size (square feet) | ft² [1] 156,000   156,000    
Date Acquired [1]     Apr. 18, 2023    
Cost of property acquired [1],[2] $ 34,365,000   $ 34,365,000    
2023 development land acquisitions          
Property Acquisition [Line Items]          
Acres of real estate investment property | ft² 116.7   116.7    
Number of markets in which land was acquired | Integer 3   3    
Payments to Acquire Land     $ 17,754,000    
[1] Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets.
[2] Cost is calculated in accordance with FASB ASC 805, Business Combinations, and represents the sum of the purchase price, closing costs and capitalized acquisition costs.
[3] The Company acquired these operating properties along with two land parcels, also in Sacramento, CA and San Francisco, CA, in connection with its acquisition of Tulloch Corporation in June 2022. Size and cost are presented on an aggregate basis for the properties located in Sacramento, CA and San Francisco, CA, respectively. In consideration for this acquisition, the Company assumed a $60,000,000 loan and issued 1,868,809 shares of the Company’s common stock. The acquisition date fair value of the loan assumed was $60,000,000, and the acquisition date fair value of the common shares, which was based on the closing share price on the acquisition date, was $303,756,000.
[4] Value-add properties are defined in Note 5.
[5] In-place lease intangibles and above market lease intangibles are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[6] Below market lease intangibles are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.