Investment in Real Estate

6 Months Ended

Jun. 30, 2019

Acquisitions

During the six months ended June 30, 2019, we acquired four industrial properties comprised of approximately 0.3 million square feet of GLA and four land parcels, one of which was acquired from our Joint Venture (see Note 5). We accounted for the properties and land parcels as asset acquisitions and therefore capitalized transaction costs to the basis of the acquired assets. The following table summarizes the amounts recognized for each major asset class for the industrial properties and land parcels acquired during the six months ended June 30, 2019:



	Purchase Price
Land	$	26,305
Building and Improvements	20,092
In-Place Leases	2,585
Below Market Leases	(656		)
Other Assets (leasing commissions)	256
Total Purchase Price	$	48,582

The revenue and net income associated with the acquisition of the industrial properties and land parcels, since their respective acquisition dates, are not significant for the six months ended June 30, 2019.

Sales

During the six months ended June 30, 2019, we sold two industrial properties comprised of approximately 0.1 million square feet of GLA. Gross proceeds from the sales were $12,091. The gain on sale of real estate attributable to these sales was $889.