Quarterly report pursuant to Section 13 or 15(d)

Real Estate Dispositions, Held for Sale and Impairment Charges (Tables)

v3.10.0.1
Real Estate Dispositions, Held for Sale and Impairment Charges (Tables)
 6 Months Ended
Jun. 30, 2018
Real Estate [Abstract]  
Summary of Sold Properties
During the six months ended June 30, 2018, we sold two non-core properties, located in Arlington, Texas and Tewksbury, Massachusetts, which are summarized in the table below (dollars in thousands):

Aggregate Square Footage Sold
 
Aggregate Sales Price
 
Aggregate Sales Costs
 
Aggregate Gain on Sale of Real Estate, net
166,200

 
$
11,100

 
$
327

 
$
1,844

Components of Operating Income from Real Estate and Related Assets Disposed
The table below summarizes the components of operating income from the real estate and related assets disposed of during the three and six months ended June 30, 2018, and 2017 (dollars in thousands):

 
 
For the three months ended June 30,
 
For the six months ended June 30,
 
 
2018
 
2017
 
2018
 
2017
Operating revenue
 
$
—


$
245

 
$
93


$
525

Operating expense
 
12

 
174

 
161


316

Other income, net
 
—


—

 
1,844

(1)
—

(Expense) income from real estate and related assets sold
 
$
(12
)
 
$
71

 
$
1,776

 
$
209


(1)
Includes a $1.8 million gain on sale of real estate, net on two properties.

Components of Assets and Liabilities Held for Sale
The table below summarizes the components of the assets and liabilities held for sale reflected on the accompanying condensed consolidated balance sheets (dollars in thousands):
 
 
June 30, 2018
 
December 31, 2017
Assets Held for Sale
 
 
 
Real estate, at cost
$
2,287

 
$
12,997

Less: accumulated depreciation
857

 
3,970

Total real estate held for sale, net
1,430

 
9,027

Lease intangibles, net
6

 
9

Deferred rent receivable, net
—

 
10

Total Assets Held for Sale
$
1,436

 
$
9,046

Liabilities Held for Sale
 
 
 
Asset retirement obligation
$
297

 
$
114

Total Liabilities Held for Sale
$
297

 
$
114