Investment in Real Estate

6 Months Ended

Jun. 30, 2020

Acquisitions

During the six months ended June 30, 2020, we acquired six industrial properties comprised of approximately 0.9 million square feet of GLA and three land parcels. 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, 2020:


Land	$	96,809
Building and Improvements/Construction in Progress	63,941
In-Place Leases	1,642
Above Market Leases	134
Below Market Leases	(1,562)
Other Assets (leasing commissions)	201

Total Purchase Price	$	161,165

The revenue and net income associated with the acquisition of the industrial properties and land parcels, since their respective acquisition dates, are not significant to the six months ended June 30, 2020.

Sales

During the six months ended June 30, 2020, we sold 12 industrial properties comprised of approximately 0.4 million square feet of GLA. Gross proceeds from the sales were $41,051. The gain on sale of real estate attributable to these sales was $23,069.