Investment in Real Estate

9 Months Ended

Sep. 30, 2021

Acquisitions

During the nine months ended September 30, 2021, we acquired four industrial properties comprised of approximately 0.2 million square feet of GLA and nine land parcels, one of which was acquired from Joint Venture I (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 allocation of the aggregate purchase price to each major asset class for the industrial properties and land parcels acquired during the nine months ended September 30, 2021:


Land	$	186,160
Building and Improvements/Construction in Progress	27,880
In-Place Leases	789


Other Assets	1,592

Total Purchase Price	$	216,421

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 nine months ended September 30, 2021.

Real Estate Held for Sale

As of September 30, 2021, we had four industrial properties comprised of approximately 0.09 million square feet of GLA held for sale.

Sales

During the nine months ended September 30, 2021, we sold 12 industrial properties and seven industrial condominium units comprised of approximately 1.7 million square feet of GLA and one land parcel. Gross proceeds from the sales were $118,623. The gain on sale of real estate attributable to these sales was $66,378.