Investment in Real Estate

3 Months Ended

Mar. 31, 2015

Real Estate [Abstract]

Investment in Real Estate

3. Investment in Real Estate

Real Estate Held for Sale

At March 31, 2015, we had one industrial property comprising approximately 0.2 million square feet of GLA and one land parcel held for sale. There can be no assurance that the industrial property and land parcel held for sale will be sold.

Sales and Discontinued Operations

During the three months ended March 31, 2015, we sold nine industrial properties comprising approximately 0.5 million square feet of GLA. Gross proceeds from the sales of the industrial properties were approximately $26,626. The gain on sale of real estate was approximately $7,930.

The industrial properties sold prior to January 1, 2015 that met the criteria to be classified as discontinued operations are presented as discontinued operations in the Consolidated Statements of Operations. Income from discontinued operations for the three months ended March 31, 2014 reflects the results of operations of the 29 industrialproperties that were sold during the year ended December 31, 2014 and the gain on sale of real estate relating to three industrial properties that were sold during the three months ended March 31, 2014.

The following table discloses certain information regarding the industrial properties included in our discontinued operations for the three months ended March 31, 2014:

	Three Months Ended March 31, 2014
Total Revenues	$	2,360
Property Expenses	(1,038		)
Depreciation and Amortization	(916		)
Gain on Sale of Real Estate	735
Income from Discontinued Operations	$	1,141