REAL ESTATE

The Company owns and operates industrial and office properties. The carrying value of these properties by type as of December 31, 2013 and 2012 is as follows (in thousands):



	Land	Building
	And Land	And		Accumulated
	Improvements	Improvements	Total	Depreciation
2013
Industrial properties	$708,484	$3,238,875	$3,947,359	$514,109
Office properties	430,971	1,905,883	2,336,854	543,571

2013 Total	$1,139,455	$5,144,758	$6,284,213	$1,057,680

2012
Industrial properties	$442,814	$2,064,928	$2,507,742	$496,208
Office properties	403,144	1,980,457	2,383,601	576,651

2012 Total	$845,958	$4,045,385	$4,891,343	$1,072,859

Depreciation expense was $162.5 million, $140.6 million and $144.3 million for the years ended December 31, 2013, 2012 and 2011, respectively.

Information on the operating properties the Company sold during the years ended December 31, 2013 and 2012 is as follows:

2013 Sales



		Number of	Leaseable
	Reportable Segment	Buildings	Square Feet	Gross Proceeds
				(in thousands)
Industrial -	Lehigh/Central PA	1	101,750	$	8,650
	Carolinas	1	59,200	2,000
	Other	2	80,635	4,422
Industrial/Office -	Minnesota	12	915,693	71,493
	Richmond/Hampton Roads	1	86,170	10,978
	Other	34	2,226,500	187,853
Office -	Philadelphia	2	656,350	103,650
	Southeastern PA	5	996,874	102,734
	Total	58	5,123,172	$	491,780

2012 Sales



		Number of	Leaseable
	Reportable Segment	Buildings	Square Feet	Gross Proceeds
				(in thousands)
Industrial -	Lehigh/Central PA	1	45,000	$	2,025
	Chicago/Milwaukee	20	996,115	69,861
	Carolinas	13	704,120	55,228
	Other	8	632,758	49,386
Industrial/Office -	South Florida	1	47,442	4,143
	Richmond/Hampton Roads	3	289,278	22,131
	Other	1	15,000	2,386
Office -	Southeastern PA	3	308,344	23,300
	Total	50	3,038,057	$	228,460