Real Estate (Tables)

12 Months Ended

Dec. 31, 2020

Real Estate [Abstract]

Real Estate and Accumulated Depreciation

Real estate activity for 2020 and 2019 is composed of the following:

	Years ended December 31,
	2020			2019
Cost
Balance, beginning of year	$	1,515,206,000		$	1,508,682,000
Properties transferred to held for sale		(22,512,000	)		(36,265,000	)
Property acquisitions		—			9,333,000
Outparcel dispositions		(840,000	)		—
Asset write-offs		—			(3,633,000	)
Improvements and betterments		35,624,000			37,089,000
Balance, end of the year	$	1,527,478,000		$	1,515,206,000
Accumulated depreciation
Balance, beginning of the year	$	389,861,000		$	361,969,000
Properties transferred held for sale		(3,947,000	)		(10,143,000	)
Outparcel dispositions		(90,000	)		—
Asset write-offs		—			(3,107,000	)
Depreciation expense		42,745,000			41,142,000
Balance, end of the year	$	428,569,000		$	389,861,000
Net book value	$	1,098,909,000		$	1,125,345,000

Schedule of Transactions Related to Properties Held for Sale/Conveyance

Dispositions

During 2020, 2019 and 2018, the Company sold the properties listed below:

		Date	Sales		Gain on
Property	Location	Sold	Price		Sale
2020
Metro Square	Owings Mills, MD	7/9/2020	$	4,288,000	$	-
Oakland Mills outparcel building	Columbia, MD	9/17/2020		1,050,000		643,000
Glen Allen Shopping Center	Glen Allen, VA	10/8/2020		8,540,000		1,780,000
Pine Grove Plaza outparcel building	Brown Mills, NJ	11/2/2020		1,100,000		565,000
Suffolk Plaza	Suffolk, VA	12/10/2020		6,950,000		1,408,000
			$	21,928,000	$	4,396,000
2019
Maxatawny Marketplace	Maxatawny, PA	2/15/2019	$	10,330,000	$	101,000
Fort Washington Center	Fort Washington, PA	6/26/2019		9,048,000		2,841,000
			$	19,378,000	$	2,942,000
2018
Mechanicsburg Center	Mechanicsburg, PA	8/28/2018	$	16,100,000	$	4,864,000
West Bridgewater Plaza	West Bridgewater, MA	9/28/2018		3,500,000		-
			$	19,600,000	$	4,864,000