Duke Realty Limited PARTNERSHIP 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	3 Months Ended
	Mar. 31, 2018	May 03, 2018	Dec. 31, 2017
Entity Information [Line Items]
Common shares, par value	$ 0.01		$ 0.01
Entity Registrant Name	DUKE REALTY CORPORATION
Entity Central Index Key	783,280
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		357,030,140
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Duke Realty Limited Partnership [Member]
Entity Information [Line Items]
Entity Registrant Name	DUKE REALTY LIMITED PARTNERSHIP
Entity Central Index Key	1,003,410
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Real Estate Assets	$ 6,608,594	$ 6,593,567
Construction in progress	441,484	401,407
Investments in and advances to unconsolidated joint ventures	121,576	126,487
Undeveloped land	259,842	226,987
Real estate investment property, at cost, total	7,431,496	7,348,448
Accumulated depreciation	(1,238,688)	(1,193,905)
Net real estate investments	6,192,808	6,154,543
Real estate investments and other assets held-for-sale	21,740	17,550
Cash and cash equivalents	160,861	67,562
Accounts receivable, net of allowance	21,939	19,427
Straight-line rent receivable, net of allowance	97,266	93,005
Receivables on construction contracts, including retentions	16,692	13,480
Deferred leasing and other costs, net of accumulated amortization	297,103	292,682
Restricted cash held in escrow for like-kind exchange	59,196	116,405
Notes receivable from property sales	386,789	426,657
Other escrow deposits and other assets	173,280	186,885
Total Assets	7,427,674	7,388,196
LIABILITIES AND EQUITY
Secured debt, net of deferred financing costs	310,070	311,349
Unsecured debt, net of deferred financing costs	2,111,386	2,111,542
Unsecured line of credit	75,000	0
Long-term debt, total	2,496,456	2,422,891
Liabilities related to real estate investments held-for-sale	1,327	1,163
Construction payables and amounts due subcontractors, including retentions	53,339	54,545
Accrued real estate taxes	71,234	67,374
Accrued interest	27,166	17,911
Other liabilities	152,358	210,825
Tenant security deposits and prepaid rents	44,610	39,109
Total Liabilities	2,846,490	2,813,818
Equity
Common shares	3,570	3,564
Additional paid-in capital	5,204,855	5,205,316
Distributions in excess of net income	(674,920)	(676,036)
Total shareholders' equity	4,533,505	4,532,844
Noncontrolling interests	47,679	41,534
Total Equity	4,581,184	4,574,378
Total Liabilities and Equity	7,427,674	7,388,196
Duke Realty Limited Partnership [Member]
ASSETS
Real Estate Assets	6,608,594	6,593,567
Construction in progress	441,484	401,407
Investments in and advances to unconsolidated joint ventures	121,576	126,487
Undeveloped land	259,842	226,987
Real estate investment property, at cost, total	7,431,496	7,348,448
Accumulated depreciation	(1,238,688)	(1,193,905)
Net real estate investments	6,192,808	6,154,543
Real estate investments and other assets held-for-sale	21,740	17,550
Cash and cash equivalents	160,861	67,562
Accounts receivable, net of allowance	21,939	19,427
Straight-line rent receivable, net of allowance	97,266	93,005
Receivables on construction contracts, including retentions	16,692	13,480
Deferred leasing and other costs, net of accumulated amortization	297,103	292,682
Restricted cash held in escrow for like-kind exchange	59,196	116,405
Notes receivable from property sales	386,789	426,657
Other escrow deposits and other assets	173,280	186,885
Total Assets	7,427,674	7,388,196
LIABILITIES AND EQUITY
Secured debt, net of deferred financing costs	310,070	311,349
Unsecured debt, net of deferred financing costs	2,111,386	2,111,542
Unsecured line of credit	75,000	0
Long-term debt, total	2,496,456	2,422,891
Liabilities related to real estate investments held-for-sale	1,327	1,163
Construction payables and amounts due subcontractors, including retentions	53,339	54,545
Accrued real estate taxes	71,234	67,374
Accrued interest	27,166	17,911
Other liabilities	152,358	210,825
Tenant security deposits and prepaid rents	44,610	39,109
Total Liabilities	2,846,490	2,813,818
Equity
Common equity	4,533,505	4,532,844
Limited Partners' common equity	46,706	40,563
Total partners' equity	4,580,211	4,573,407
Noncontrolling interests	973	971
Total Equity	4,581,184	4,574,378
Total Liabilities and Equity	$ 7,427,674	$ 7,388,196

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable, allowance	$ 1,626	$ 1,709
Straight-line rent receivable, allowance	6,104	5,254
Deferred leasing and other costs, accumulated amortization	208,092	209,451
Debt Issuance Costs, Net	$ 20,529	$ 21,114
Common shares, par value	$ 0.01	$ 0.01
Common shares, shares authorized	600,000,000	600,000,000
Common shares, shares issued	357,025,000	356,361,000
Common shares, shares outstanding	357,025,000	356,361,000
Duke Realty Limited Partnership [Member]
Accounts receivable, allowance	$ 1,626	$ 1,709
Straight-line rent receivable, allowance	6,104	5,254
Deferred leasing and other costs, accumulated amortization	$ 208,092	$ 209,451
Common equity, General Partner Units issued	357,025,000	356,361,000
Common equity, General Partner Units outstanding	357,025,000	356,361,000
Limited Partner Units issued	3,402,000	3,283,000
Limited Partner Units outstanding	3,402,000	3,283,000
Secured Debt [Member]
Debt Issuance Costs, Net	$ 529	$ 614
Secured Debt [Member] | Duke Realty Limited Partnership [Member]
Debt Issuance Costs, Net	529	614
Unsecured Debt [Member]
Debt Issuance Costs, Net	20,000	20,500
Unsecured Debt [Member] | Duke Realty Limited Partnership [Member]
Debt Issuance Costs, Net	$ 20,000	$ 20,500

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Rental and related revenue	$ 193,456	$ 171,676
General contractor and service fee revenue	41,101	9,399
Revenues, total	234,557	181,075
Expenses:
Rental expenses	20,396	16,237
Real estate taxes	31,146	26,511
General contractor and other services expenses	40,409	7,624
Depreciation and amortization	77,529	62,023
Costs and expenses, total	169,480	112,395
Other operating activities:
Equity in earnings of unconsolidated joint ventures	8,287	4,749
Gain on sale of properties	44,886	37,046
Gain on land sales	2,949	1,505
Other operating expenses	(786)	(738)
Impairment charges	0	(859)
General and administrative expenses	(21,023)	(19,232)
Other Operating Activities, Net	34,313	22,471
Operating income	99,390	91,151
Other income (expenses):
Interest and other income, net	4,463	533
Interest expense	(20,000)	(24,162)
Gain on debt extinguishment	0	25
Income from continuing operations before income taxes	83,853	67,547
Income tax expense	(10,329)	(2,132)
Income from continuing operations	73,524	65,415
Discontinued operations:
(Loss) income before gain on sales and income tax	(8)	5,366
Gain on sale of depreciable properties	132	0
Income from discontinued operations	124	5,366
Net income	73,648	70,781
Net income attributable to noncontrolling interests	(685)	(581)
Net income attributable to common shareholders	$ 72,963	$ 70,200
Basic net income per common share/unit:
Continuing operations attributable to common shareholders/unitholders	$ 0.20	$ 0.18
Discontinuing operations attributable to common shareholders/unitholders	0	0.02
Earnings Per Share, Basic	0.20	0.20
Diluted net income per common share/unit:
Continuing operations attributable to common shareholders/unitholders	0.20	0.18
Discontinued operations attributable to common shareholders/unitholders	0	0.02
Earnings Per Share, Diluted	$ 0.20	$ 0.20
Weighted average number of common shares/units outstanding	356,740	355,282
Weighted average number of common shares/units and potential dilutive securities	360,400	360,700
Comprehensive income:
Net income	$ 73,648	$ 70,781
Other comprehensive loss:
Amortization of interest contracts	0	(256)
Comprehensive income	73,648	70,525
Duke Realty Limited Partnership [Member]
Revenues:
Rental and related revenue	193,456	171,676
General contractor and service fee revenue	41,101	9,399
Revenues, total	234,557	181,075
Expenses:
Rental expenses	20,396	16,237
Real estate taxes	31,146	26,511
General contractor and other services expenses	40,409	7,624
Depreciation and amortization	77,529	62,023
Costs and expenses, total	169,480	112,395
Other operating activities:
Equity in earnings of unconsolidated joint ventures	8,287	4,749
Gain on sale of properties	44,886	37,046
Gain on land sales	2,949	1,505
Other operating expenses	(786)	(738)
Impairment charges	0	(859)
General and administrative expenses	(21,023)	(19,232)
Other Operating Activities, Net	34,313	22,471
Operating income	99,390	91,151
Other income (expenses):
Interest and other income, net	4,463	533
Interest expense	(20,000)	(24,162)
Gain on debt extinguishment	0	25
Income from continuing operations before income taxes	83,853	67,547
Income tax expense	(10,329)	(2,132)
Income from continuing operations	73,524	65,415
Discontinued operations:
(Loss) income before gain on sales and income tax	(8)	5,366
Gain on sale of depreciable properties	132	0
Income from discontinued operations	124	5,366
Net income	73,648	70,781
Net (income) loss attributable to noncontrolling interests	(2)	71
Net income attributable to common shareholders	$ 73,646	$ 70,852
Basic net income per common share/unit:
Continuing operations attributable to common shareholders/unitholders	$ 0.20	$ 0.18
Discontinuing operations attributable to common shareholders/unitholders	0	0.02
Earnings Per Share, Basic	0.20	0.20
Diluted net income per common share/unit:
Continuing operations attributable to common shareholders/unitholders	0.20	0.18
Discontinued operations attributable to common shareholders/unitholders	0	0.02
Earnings Per Share, Diluted	$ 0.20	$ 0.20
Weighted average number of common shares/units outstanding	360,095	358,598
Weighted average number of common shares/units and potential dilutive securities	360,400	360,700
Comprehensive income:
Net income	$ 73,648	$ 70,781
Other comprehensive loss:
Amortization of interest contracts	0	(256)
Comprehensive income	$ 73,648	$ 70,525

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 73,648	$ 70,781
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of buildings and tenant improvements	63,944	66,172
Amortization of deferred leasing and other costs	13,585	15,385
Amortization of deferred financing costs	1,418	1,316
Straight-line rental income and expense, net	(6,288)	(2,928)
Impairment charges	0	859
Loss on debt extinguishment	0	(25)
Gains on land and depreciated property sales	(47,967)	(38,551)
Third-party construction contracts, net	(367)	714
Other accrued revenues and expenses, net	19,862	(3,733)
Operating distributions received less than equity in earnings from unconsolidated joint ventures	(4,673)	(282)
Net cash provided by operating activities	113,162	109,708
Cash flows from investing activities:
Development of real estate investments	(104,346)	(112,727)
Acquisition of real estate investments and related intangible assets	(22,801)	(114,369)
Acquisition of undeveloped land	(67,256)	(50,436)
Second generation tenant improvements, leasing costs and building improvements	(14,102)	(10,431)
Other deferred leasing costs	(9,798)	(4,398)
Other assets	39,183	(4,186)
Proceeds from land and depreciated property sales, net	131,380	103,120
Capital distributions from unconsolidated joint ventures	9,404	4,858
Capital contributions and advances to unconsolidated joint ventures	0	(297)
Net cash used for investing activities	(38,336)	(188,866)
Cash flows from financing activities:
Proceeds from issuance of common shares, net	706	786
Payments on unsecured debt	(656)	(616)
Payments on secured indebtedness including principal amortization	(1,345)	(17,539)
Borrowings on line of credit, net	75,000	189,000
Distributions to common shareholders/unitholders	(71,398)	(67,554)
Distributions to Noncontrolling Interest	(680)	(640)
Tax payments on stock-based compensation awards	(7,984)	(8,848)
Change in book overdrafts	(33,448)	7,115
Deferred financing costs	(285)	(7)
Net cash (used for) provided by financing activities	(40,090)	101,697
Net increase in cash, cash equivalents and restricted cash	34,736	22,539
Cash, cash equivalents and restricted cash at beginning of period	193,627	57,038
Cash, cash equivalents and restricted cash at end of period	228,363	79,577
Noncash investing and financing activities:
Conversion of Limited Partner Units to common shares	0	1,685
Duke Realty Limited Partnership [Member]
Cash flows from operating activities:
Net income	73,648	70,781
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of buildings and tenant improvements	63,944	66,172
Amortization of deferred leasing and other costs	13,585	15,385
Amortization of deferred financing costs	1,418	1,316
Straight-line rental income and expense, net	(6,288)	(2,928)
Impairment charges	0	859
Loss on debt extinguishment	0	(25)
Gains on land and depreciated property sales	(47,967)	(38,551)
Third-party construction contracts, net	(367)	714
Other accrued revenues and expenses, net	19,862	(3,733)
Operating distributions received less than equity in earnings from unconsolidated joint ventures	(4,673)	(282)
Net cash provided by operating activities	113,162	109,708
Cash flows from investing activities:
Development of real estate investments	(104,346)	(112,727)
Acquisition of real estate investments and related intangible assets	(22,801)	(114,369)
Acquisition of undeveloped land	(67,256)	(50,436)
Second generation tenant improvements, leasing costs and building improvements	(14,102)	(10,431)
Other deferred leasing costs	(9,798)	(4,398)
Other assets	39,183	(4,186)
Proceeds from land and depreciated property sales, net	131,380	103,120
Capital distributions from unconsolidated joint ventures	9,404	4,858
Capital contributions and advances to unconsolidated joint ventures	0	(297)
Net cash used for investing activities	(38,336)	(188,866)
Cash flows from financing activities:
Contributions from the General Partner	706	786
Payments on unsecured debt	(656)	(616)
Payments on secured indebtedness including principal amortization	(1,345)	(17,539)
Borrowings on line of credit, net	75,000	189,000
Distributions to common shareholders/unitholders	(72,078)	(68,184)
Distributions to Noncontrolling Interest	0	(10)
Tax payments on stock-based compensation awards	(7,984)	(8,848)
Change in book overdrafts	(33,448)	7,115
Deferred financing costs	(285)	(7)
Net cash (used for) provided by financing activities	(40,090)	101,697
Net increase in cash, cash equivalents and restricted cash	34,736	22,539
Cash, cash equivalents and restricted cash at beginning of period	193,627	57,038
Cash, cash equivalents and restricted cash at end of period	228,363	79,577
Noncash investing and financing activities:
Conversion of Limited Partner Units to common shares	$ 0	$ 1,685

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Distributions in Excess of Net Income [Member]	Non-controlling Interest [Member]	Duke Realty Limited Partnership [Member]	Duke Realty Limited Partnership [Member]Common Stock [Member]	Duke Realty Limited Partnership [Member]Limited Partners' Common Equity [Member]	Duke Realty Limited Partnership [Member]Non-controlling Interest [Member]	Duke Realty Limited Partnership [Member]Stockholders' Equity, Total [Member]
Beginning Balance - General Partner at Dec. 31, 2017	$ 4,574,378	$ 3,564	$ 5,205,316	$ (676,036)	$ 41,534
Beginning Balance - Partnership at Dec. 31, 2017						$ 4,574,378	$ 4,532,844	$ 40,563	$ 971	$ 4,573,407
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	73,648			72,963	685	73,648	72,963	683	2	73,646
Issuance of common shares	706		706
Capital contribution from the General Partner						706	706			706
Stock based compensation plan activity	4,530	6	(1,167)	(449)	6,140	4,530	(1,610)	6,140		4,530
Distributions to Partners						(72,078)	(71,398)	(680)		(72,078)
Distributions to common shareholders	(71,398)			(71,398)
Distributions to noncontrolling interests	(680)				(680)
Ending Balance - General Partner at Mar. 31, 2018	$ 4,581,184	$ 3,570	$ 5,204,855	$ (674,920)	$ 47,679
Ending Balance - Partnership at Mar. 31, 2018						$ 4,581,184	$ 4,533,505	$ 46,706	$ 973	$ 4,580,211

Consolidated Statement of Chan7

Consolidated Statement of Changes in Equity (Parenthetical)	3 Months Ended
	Mar. 31, 2018$ / shares
Distributions to common shareholders, per share	$ 0.20
Duke Realty Limited Partnership [Member]
Distributions to Partners, per Common Unit	$ 0.20

General Basis of Presentation (

General Basis of Presentation (Notes)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General Basis of Presentation	General Basis of Presentation The interim consolidated financial statements included herein have been prepared by the General Partner and the Partnership. The 2017 year-end consolidated balance sheet data included in this Report was derived from the audited financial statements in the combined Annual Report on Form 10-K of the General Partner and the Partnership for the year ended December 31, 2017 (the " 2017 Annual Report"), but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). The financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with Rule 10-01 of Regulation S-X of the Securities Exchange Act of 1934, as amended. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses during the reporting period. Our actual results could differ from those estimates and assumptions. These financial statements should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations included herein and the consolidated financial statements and notes thereto included in the 2017 Annual Report. The General Partner was formed in 1985, and we believe that it qualifies as a REIT under the provisions of the Internal Revenue Code of 1986, as amended (the "Code"). The Partnership was formed on October 4, 1993, when the General Partner contributed all of its properties and related assets and liabilities, together with the net proceeds from an offering of additional shares of its common stock, to the Partnership. Simultaneously, the Partnership completed the acquisition of Duke Associates, a full-service commercial real estate firm operating in the Midwest whose operations began in 1972. The General Partner is the sole general partner of the Partnership, owning approximately 99.1% of the Common Units at March 31, 2018 . The remaining 0.9% of the Common Units are owned by limited partners. As the sole general partner of the Partnership, the General Partner has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Partnership. The General Partner and the Partnership are operated as one enterprise. The management of the General Partner consists of the same members as the management of the Partnership. As the sole general partner with control of the Partnership, the General Partner consolidates the Partnership for financial reporting purposes, and the General Partner does not have any significant assets other than its investment in the Partnership. Therefore, the assets and liabilities of the General Partner and the Partnership are substantially the same. Limited partners have the right to redeem their Limited Partner Units, subject to certain restrictions. Pursuant to the Fifth Amended and Restated Agreement of Limited Partnership, as amended (the "Partnership Agreement"), the General Partner is obligated to redeem the Limited Partner Units in shares of its common stock, unless it determines in its reasonable discretion that the issuance of shares of its common stock could cause it to fail to qualify as a REIT. Each Limited Partner Unit shall be redeemed for one share of the General Partner's common stock, or, in the event that the issuance of shares could cause the General Partner to fail to qualify as a REIT, cash equal to the fair market value of one share of the General Partner's common stock at the time of redemption, in each case, subject to certain adjustments described in the Partnership Agreement. The Limited Partner Units are not required, per the terms of the Partnership Agreement, to be redeemed in registered shares of the General Partner. As of March 31, 2018

New Accounting Pronouncements (

New Accounting Pronouncements (Notes)	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements Recently Adopted Accounting Pronouncements Revenue Recognition and De-recognition of Non-Financial Assets On January 1, 2018, we concurrently adopted Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers ("ASC 606") and ASC 610-20, Other Income: Gains and Losses from the De-recognition of Non-financial Assets ("ASC 610-20") using a modified retrospective ("cumulative effect") method of adoption. ASC 606 has superseded nearly all existing GAAP revenue recognition guidance, although its scope excludes lease contracts which represent our primary source of revenue. The standard’s core principle is that a company will recognize revenue when it satisfies performance obligations, by transferring promised goods or services to customers, in an amount that reflects the consideration to which the company expects to be entitled in exchange for fulfilling those performance obligations. General Contractor and Service Fee Revenue Beginning with the January 1, 2018 adoption date, general contractor and service fee revenues, as presented on the Consolidated Statements of Operations, are accounted for within the scope of ASC 606. General contractor and service fee revenues are comprised primarily of construction and development related revenues earned from third parties while acting in capacity of a developer, as a general contractor or a construction manager. There are other ancillary streams of revenue included in general contractor and service fee revenues (see Note 9), such as management fees earned from unconsolidated joint ventures, which are not significant. Opening and closing balances of construction receivables are presented separately on the Consolidated Balance Sheets. Over billed construction receivables totaled $295,000 and $276,000 at March 31, 2018 and December 31, 2017, respectively. We generally do not have any contract assets associated with our construction arrangements. Our construction arrangements are typically structured with only one performance obligation, which generally represents either an obligation to construct a new building or to construct fixtures in an existing building, and these single performance obligations are satisfied over time as construction progresses. We recognize revenue as we satisfy such performance obligations using the percentage of completion method, which is an input method allowed under ASC 606. Using this method, profits are recorded based on our estimates of the percentage of completion of individual contracts, commencing when the work performed under the contracts reaches a point where the final costs can be estimated with reasonable accuracy. The percentage of completion estimates are based on a comparison of the contract expenditures incurred to the estimated final costs. We believe the percentage of completion method is a faithful depiction of the transfer of goods and services as changes in job performance and estimated profitability, which result in revisions to costs and income and are recognized in the period in which the revisions are determined, have not historically been significant. We typically receive regular progress payments on the majority of our construction arrangements and such arrangements generally have an original duration of less than one year. As the result of the relatively short duration of our construction arrangements, we have elected to apply the optional disclosure exemptions, included in ASC 606, related to our remaining performance obligations for our in-process construction projects, for which any future variable consideration is not material. De-Recognition of Non-Financial Assets ASC 610-20 provides guidance on how entities recognize sales, including partial sales, of non-financial assets (and in-substance non-financial assets) to non-customers. ASC 606 includes guidance governing the sale of non-financial assets with customers, while sales of non-financial assets to non-customers are governed by ASC 610-20. The only difference in the treatment of sales to customers and non-customers is the presentation in the Consolidated Statements of Operations (revenue and expense is reported when the sale is to a customer and net gain or loss is reported when the sale is to a non-customer). Based on the nature of our business, we have concluded that our property sales represent transactions with non-customers. In the typical course of our business, sales of non-financial assets represent only one performance obligation and are recognized when an enforceable contract is in place, collectability is ensured and control is transferred to the buyer. ASC 610-20 also requires the seller to recognize a full gain or loss in a partial sale of non-financial assets, to the extent control is not retained. Any noncontrolling interest retained by the seller would, accordingly, be measured at fair value. We have primarily disposed of property and land in all cash transactions with no contingencies and no future involvement in the operations, and therefore, the adoption of ASC 610-20 has not significantly impacted the recognition of property and land sales. There was no cumulative adjustment recognized to beginning retained earnings as of January 1, 2018 as the result of adopting ASC 606 and ASC 610-20. Restricted Cash In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows: Restricted Cash ("ASU 2016-18"). ASU 2016-18 requires entities to show the changes in the total of cash, cash equivalents and restricted cash in the statement of cash flows. As a result, entities will no longer present transfers between cash, cash equivalents and restricted cash in the statement of cash flows. We adopted this standard on January 1, 2018, on a retrospective basis, and the adoption did not have a material impact on our consolidated financial statements. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows (in thousands): March 31, December 31, Cash and cash equivalents $ 160,861 $ 67,562 Restricted cash held in escrow for like-kind exchange 59,196 116,405 Restricted cash included in other escrow deposits and other assets 8,306 9,660 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows $ 228,363 $ 193,627 Restricted cash held in escrow for like-kind exchange on the Consolidated Balance Sheets includes cash received from the property dispositions but restricted only for qualifying like-kind exchange transactions. Statement of Cash Flows In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flow s ("ASU 2016-15"). ASU 2016-15 clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows and how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. We adopted this standard on January 1, 2018, on a retrospective basis, and the adoption did not have a material impact on our consolidated financial statements. New Accounting Pronouncement Not Yet Adopted Leases In February 2016, the FASB issued ASU 2016-02, Leases ("ASU 2016-02"), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). ASU 2016-02 supersedes existing leasing standards. For lessors, the accounting under ASU 2016-02 will remain largely unchanged from current GAAP; however ASU 2016-02 requires that lessors expense certain initial direct costs, which are capitalizable under existing leasing standards, as incurred. ASU 2016-02 also specifies that payments for certain lease-related services, which are often included in lease agreements, represent "non-lease" components that will become subject to the guidance in ASC 606, when ASU 2016-02 becomes effective. The FASB recently clarified that only new or modified leases subsequent to adoption of ASU 2016-02 will require different accounting for "non-lease" components under the guidance in ASC 606. Additionally, on March 28, 2018 the FASB tentatively approved amendments to ASU 2016-02 (the "Approved Amendments"), which, if ultimately finalized as an amendment to ASU 2016-02, will allow lessors an optional election to not separate "non-lease" components from the related lease components. This election would be contingent upon certain conditions being met, including a requirement that separating the "non-lease" components would not result in a change in the timing and pattern of the revenue recognition. ASU 2016-02 requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of classification. ASU 2016-02 will impact the accounting and disclosure requirements for ground leases, and other operating leases, where we are the lessee. ASU 2016-02 will be effective for us on January 1, 2019 under the modified retrospective approach, with early adoption permitted.

Reclassifications

Reclassifications	3 Months Ended
	Mar. 31, 2018
Disclosure Text Block [Abstract]
Reclassifications	Reclassifications Certain amounts in the accompanying consolidated financial statements that have been reclassified to conform to the 2018

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2018
Disclosure Text Block [Abstract]
Consolidation Policy for VIEs	Variable Interest Entities Partnership Due to the fact that the Limited Partners do not have kick out rights, or substantive participating rights, the Partnership is a variable interest entity ("VIE"). Because the General Partner holds majority ownership and exercises control over every aspect of the Partnership's operations, the General Partner has been determined as the primary beneficiary and, therefore, consolidates the Partnership. The assets and liabilities of the General Partner and the Partnership are substantially the same, as the General Partner does not have any significant assets other than its investment in the Partnership. All of the Company's debt is an obligation of the Partnership. Unconsolidated Joint Ventures We have equity interests in unconsolidated joint ventures that primarily own and operate rental properties or hold land for development. We consolidate those joint ventures that are considered to be VIEs where we are the primary beneficiary. We analyze our investments in joint ventures to determine if the joint venture is considered a VIE and would require consolidation. We (i) evaluate the sufficiency of the total equity investment at risk, (ii) review the voting rights and decision-making authority of the equity investment holders as a group and whether there are limited partners (or similar owning entities) that lack substantive participating or kick out rights and (iii) establish whether or not activities within the venture are on behalf of an investor with disproportionately few voting rights in making this VIE determination. To the extent that we own interests in a VIE and we (i) are the sole entity that has the power to direct the activities of the VIE and (ii) have the obligation or rights to absorb the VIE's losses or receive its benefits, then we would be determined to be the primary beneficiary and would consolidate the VIE. To the extent we own interests in a VIE, then at each reporting period, we re-assess our conclusions as to which, if any, party within the VIE is considered the primary beneficiary. Consolidated joint ventures that are VIEs are not significant in any period presented in these consolidated financial statements. To the extent that our joint ventures do not qualify as VIEs, they are consolidated if we control them through majority ownership interests or if we are the managing entity (general partner or managing member) and the other partner does not have substantive participating rights. Control is further demonstrated by our ability to unilaterally make significant operating decisions, refinance debt and sell the assets of the joint venture without the consent of the non-managing entity and the inability of the non-managing entity to remove us from our role as the managing entity. Consolidated joint ventures that are not VIEs are not significant in any period presented in these consolidated financial statements. There were no unconsolidated joint ventures, in which we have any recognized assets or liabilities or have retained any economic exposure to loss at March 31, 2018 , that met the criteria to be considered VIEs. Our maximum loss exposure for guarantees of unconsolidated joint venture indebtedness, none of which relate to VIEs, totaled $102.9 million at March 31, 2018

Acquisitions and Dispositions

Acquisitions and Dispositions	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions Acquisitions and dispositions for the periods presented were completed in accordance with our strategy to reposition our investment concentration among the product types and markets in which we operate and to increase our overall investments in quality industrial projects. With the exception of certain properties that have been sold or classified as held for sale, the results of operations for all acquired properties have been included in continuing operations within our consolidated financial statements since their respective dates of acquisition. Transaction costs related to asset acquisitions are capitalized and transaction costs related to business combinations and dispositions are expensed. Acquisitions We acquired two properties during the three months ended March 31, 2018 . We determined that these two properties did not meet the definition of a business and, accordingly, we accounted for them as asset acquisitions as opposed to business combinations. The following table summarizes amounts recognized for each major class of assets and liability (in thousands) for these acquisitions during the three months ended March 31, 2018 : Real estate assets $ 21,537 Lease related intangible assets 1,693 Total acquired assets 23,230 Below market lease liability 367 Fair value of acquired net assets $ 22,863 The leases in the acquired properties had a weighted average remaining life at acquisition of approximately 7.4 years. Fair Value Measurements We determine the fair value of the individual components of real estate asset acquisitions primarily through calculating the "as-if vacant" value of a building, using an income approach, which relies significantly upon internally determined assumptions. We have determined that these estimates primarily rely upon level 3 inputs, which are unobservable inputs based on our own assumptions. The most significant assumptions used in calculating the "as-if vacant" value for acquisition activity during the three months ended March 31, 2018 are as follows: Low High Exit capitalization rate 4.50% 4.50% Net rental rate per square foot $9.12 $10.20 Capitalized acquisition costs were insignificant and the fair value of the two properties acquired during the three months ended March 31, 2018 was substantially the same as the cost of acquisition. Dispositions Dispositions of buildings and undeveloped land generated net cash proceeds of $131.4 million and $103.1 million during the three months ended March 31, 2018 and 2017

Indebtedness

Indebtedness	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Indebtedness	Indebtedness All debt is issued directly or indirectly by the Partnership. The General Partner does not have any indebtedness, but does guarantee some of the unsecured debt of the Partnership. The following table summarizes the book value and changes in the fair value of our debt (in thousands): Book Value at 12/31/2017 Book Value at 3/31/2018 Fair Value at 12/31/2017 Issuances and Assumptions Payments/Payoffs Adjustments to Fair Value Fair Value at 3/31/2018 Fixed rate secured debt $ 309,463 $ 308,099 $ 325,753 $ — $ (1,345 ) $ (3,756 ) $ 320,652 Variable rate secured debt 2,500 2,500 2,500 — — — 2,500 Unsecured debt 2,132,042 2,131,386 2,190,548 — (656 ) (60,502 ) 2,129,390 Unsecured line of credit — 75,000 — 75,000 — — 75,000 Total $ 2,444,005 $ 2,516,985 $ 2,518,801 $ 75,000 $ (2,001 ) $ (64,258 ) $ 2,527,542 Less: Deferred financing costs 21,114 20,529 Total indebtedness as reported on the consolidated balance sheets $ 2,422,891 $ 2,496,456 Secured Debt Because our fixed rate secured debt is not actively traded in any marketplace, we utilized a discounted cash flow methodology to determine its fair value. Accordingly, we calculated fair value by applying an estimate of the current market rate to discount the debt's remaining contractual cash flows. Our estimate of a current market rate, which is the most significant input in the discounted cash flow calculation, is intended to replicate debt of similar maturity and loan-to-value relationship. The estimated rates ranged from 3.90% to 4.00% , depending on the attributes of the specific loans. The current market rates we utilized were internally estimated; therefore, we have concluded that our determination of fair value for our fixed rate secured debt was primarily based upon level 3 inputs. During the three months ended March 31, 2018 , we repaid one fixed rate secured loan, totaling $215,000 , which had a stated interest rate of 5.55% . Unsecured Debt At March 31, 2018 , all of our unsecured debt bore interest at fixed rates and primarily consisted of unsecured notes that are publicly traded. We utilized broker estimates in estimating the fair value of our fixed rate unsecured debt. Our unsecured notes are thinly traded and, in certain cases, the broker estimates were not based upon comparable transactions. The broker estimates took into account any recent trades within the same series of our fixed rate unsecured debt, comparisons to recent trades of other series of our fixed rate unsecured debt, trades of fixed rate unsecured debt from companies with profiles similar to ours, as well as overall economic conditions. We reviewed these broker estimates for reasonableness and accuracy, considering whether the estimates were based upon market participant assumptions within the principal and most advantageous market and whether any other observable inputs would be more accurate indicators of fair value than the broker estimates. We concluded that the broker estimates were representative of fair value. We have determined that our estimation of the fair value of our fixed rate unsecured debt was primarily based upon level 3 inputs. The estimated trading values of our fixed rate unsecured debt, depending on the maturity and coupon rates, ranged from 95.00% to 122.00% of face value. The indentures (and related supplemental indentures) governing our outstanding series of unsecured notes also require us to comply with financial ratios and other covenants regarding our operations. We were in compliance with all such financial covenants at March 31, 2018 . Unsecured Line of Credit Our unsecured line of credit at March 31, 2018 is described as follows (in thousands): Description Borrowing Capacity Maturity Date Outstanding Balance at March 31, 2018 Unsecured Line of Credit - Partnership $ 1,200,000 January 30, 2022 $ 75,000 The Partnership's unsecured line of credit has an interest rate on borrowings of LIBOR plus 0.875% (equal to 2.75% for outstanding borrowings at March 31, 2018 ) and has a maturity date of January 30, 2022 , with options to extend until January 30, 2023. Subject to certain conditions, the terms also include an option to increase the facility by up to an additional $800.0 million , for a total of up to $2.00 billion . This line of credit provides us with an option to obtain borrowings from financial institutions that participate in the line at rates that may be lower than the stated interest rate, subject to certain restrictions. This line of credit contains financial covenants that require us to meet certain financial ratios and defined levels of performance, including those related to fixed charge coverage, unsecured interest expense coverage and debt-to-asset value (with asset value being defined in the Partnership's unsecured line of credit agreement). At March 31, 2018 , we were in compliance with all financial covenants under this line of credit.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We provide property management, asset management, leasing, construction and other tenant-related services to unconsolidated joint ventures in which we have equity interests. We recorded the corresponding fees based on contractual terms that approximate market rates for these types of services and have eliminated our ownership percentage of these fees in the consolidated financial statements. The following table summarizes the fees earned from these joint ventures, prior to the elimination of our ownership percentage (in thousands): Three Months Ended March 31, 2018 2017 Management fees $ 442 $ 811 Leasing fees 302 434 Construction and development fees 697 624

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Income per Common Share or Common Unit Basic net income per common share or Common Unit is computed by dividing net income attributable to common shareholders or common unitholders, less dividends or distributions on share-based awards expected to vest (referred to as "participating securities" and primarily composed of unvested restricted stock units), by the weighted average number of common shares or Common Units outstanding for the period. Diluted net income per common share is computed by dividing the sum of net income attributable to common shareholders and the noncontrolling interest in earnings allocable to Limited Partner Units (to the extent the Limited Partner Units are dilutive), less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, weighted average number of Limited Partner Units outstanding and any potential dilutive securities for the period. Diluted net income per Common Unit is computed by dividing the net income attributable to common unitholders, less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of Common Units outstanding and any potential dilutive securities for the period. The following table reconciles the components of basic and diluted net income per common share or Common Unit (in thousands): Three Months Ended March 31, 2018 2017 General Partner Net income attributable to common shareholders $ 72,963 $ 70,200 Less: dividends on participating securities (437 ) (542 ) Basic net income attributable to common shareholders 72,526 69,658 Add back dividends on dilutive participating securities — 305 Noncontrolling interest in earnings of common unitholders 683 652 Diluted net income attributable to common shareholders $ 73,209 $ 70,615 Weighted average number of common shares outstanding 356,740 355,282 Weighted average Limited Partner Units outstanding 3,355 3,316 Other potential dilutive shares 305 2,102 Weighted average number of common shares and potential dilutive securities 360,400 360,700 Partnership Net income attributable to common unitholders $ 73,646 $ 70,852 Less: distributions on participating securities (437 ) (542 ) Basic net income attributable to common unitholders $ 73,209 $ 70,310 Add back distributions on dilutive participating securities — 305 Diluted net income attributable to common unitholders $ 73,209 $ 70,615 Weighted average number of Common Units outstanding 360,095 358,598 Other potential dilutive units 305 2,102 Weighted average number of Common Units and potential dilutive securities 360,400 360,700 The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands): Three Months Ended March 31, 2018 2017 General Partner and Partnership Other potential dilutive shares or units: Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans — — Anti-dilutive outstanding participating securities 2,272 1,389

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Reportable Segments During the year ended December 31, 2017, we completed the disposition of our medical office portfolio (the "Medical Office Portfolio Disposition"), which resulted in all of our in-service medical office properties being classified within discontinued operations with the exception of a property that did not meet the criteria for classification as held for sale at March 31, 2018 . As a result of this transaction, beginning the second quarter of 2017, our medical office properties were no longer presented as a separate reportable segment, with substantially all such operating results being classified within discontinued operations. The remaining medical office property included in continuing operations no longer meets the quantitative thresholds for separate presentation, and is classified as part of our non-reportable Rental Operations. Properties that are not included in our reportable segments, because they do not by themselves meet the quantitative thresholds for separate presentation as a reportable segment, are generally referred to as non-reportable Rental Operations. Our non-reportable Rental Operations primarily include our remaining office properties and medical office property at March 31, 2018 . As of March 31, 2018 , we had two reportable operating segments, the first consisting of the ownership and rental of industrial real estate investments. Our ongoing investments in new real estate investments are determined largely upon anticipated geographic trends in supply and demand for industrial buildings, as well as the real estate needs of our major tenants that operate on a national level. Our strategic initiatives and our allocation of resources have been historically based upon allocation among product types, which was consistent with our designation of reportable segments, and after having sold nearly all of our office and medical office properties we intend to increase our investment in industrial properties and treat them as a single operating and reportable segment. The operations of our industrial properties, as well as our non-reportable Rental Operations, are collectively referred to as "Rental Operations." Our second reportable segment consists of various real estate services such as property management, asset management, maintenance, leasing, development, general contracting and construction management to third-party property owners and joint ventures, and is collectively referred to as "Service Operations." The Service Operations segment is identified as one single operating segment because the lowest level of financial results reviewed by our chief operating decision maker are the results for the Service Operations segment in total. Further, our reportable segments are managed separately because each segment requires different operating strategies and management expertise . Revenues by Reportable Segment The following table shows the revenues for each of the reportable segments, as well as a reconciliation to consolidated revenues (in thousands): Three Months Ended March 31, 2018 2017 Revenues Rental Operations: Industrial $ 189,315 $ 156,882 Non-reportable Rental Operations 3,453 14,416 Service Operations 41,101 9,399 Total segment revenues 233,869 180,697 Other revenue 688 378 Consolidated revenue from continuing operations 234,557 181,075 Discontinued operations 5 46,239 Consolidated revenue $ 234,562 $ 227,314 Supplemental Performance Measure Property-level net operating income on a cash basis ("PNOI") is the non-GAAP supplemental performance measure that we use to evaluate the performance of, and to allocate resources among, the real estate investments in the reportable and operating segments that comprise our Rental Operations. PNOI for our Rental Operations segments is comprised of rental revenues from continuing operations less rental expenses and real estate taxes from continuing operations, along with certain other adjusting items (collectively referred to as "Rental Operations revenues and expenses excluded from PNOI," as shown in the following table). Additionally, we do not allocate interest expense, depreciation expense and certain other non-property specific revenues and expenses (collectively referred to as "Non-Segment Items," as shown in the following table) to our individual operating segments. We evaluate the performance of our Service Operations reportable segment using net income or loss, as allocated to that segment ("Earnings from Service Operations"). The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes (in thousands and excluding discontinued operations): Three Months Ended March 31, 2018 2017 PNOI Industrial $ 133,388 $ 114,680 Non-reportable Rental Operations 921 927 PNOI, excluding all sold properties 134,309 115,607 PNOI from sold properties included in continuing operations 1,606 2,905 PNOI, continuing operations $ 135,915 $ 118,512 Earnings from Service Operations 692 1,775 Rental Operations revenues and expenses excluded from PNOI: Straight-line rental income and expense, net 6,289 1,577 Revenues related to lease buyouts 23 9,785 Amortization of lease concessions and above and below market rents 545 (543 ) Intercompany rents and other adjusting items 14 180 Non-Segment Items: Equity in earnings of unconsolidated joint ventures 8,287 4,749 Interest expense (20,000 ) (24,162 ) Depreciation and amortization expense (77,529 ) (62,023 ) Gain on sale of properties 44,886 37,046 Impairment charges — (859 ) Interest and other income, net 4,463 533 General and administrative expenses (21,023 ) (19,232 ) Gain on land sales 2,949 1,505 Other operating expenses (786 ) (738 ) Gain on extinguishment of debt — 25 Other non-segment revenues and expenses, net (872 ) (583 ) Income from continuing operations before income taxes $ 83,853 $ 67,547

Real Estate Assets, Discontinue

Real Estate Assets, Discontinued Operations and Assets Held for Sale	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations and Assets Held for Sale	Real Estate Assets, Discontinued Operations and Assets Held for Sale Real Estate Assets Real estate assets, excluding assets held for sale, consisted of the following (in thousands): March 31, 2018 December 31, 2017 Buildings and tenant improvements $ 4,668,740 $ 4,642,832 Land and improvements 1,939,854 1,950,735 Real estate assets $ 6,608,594 $ 6,593,567 Discontinued Operations The following table illustrates the number of sold or held-for-sale properties included in, or excluded from, discontinued operations in this report: Held-for-Sale at March 31, 2018 Sold Year-to-Date in 2018 Sold in 2017 Total Total properties included in discontinued operations — — 81 81 Properties excluded from discontinued operations 2 6 17 25 Total properties sold or classified as held-for-sale 2 6 98 106 For the properties that were classified in discontinued operations, we allocated interest expense to discontinued operations and have included such interest expense in computing income from discontinued operations. Interest expense allocable to discontinued operations was based upon an allocable share of our consolidated unsecured interest expense, as none of the properties included in discontinued operations were encumbered by secured debt. The allocation of unsecured interest expense to discontinued operations was based upon the gross book value of the unencumbered real estate assets included in discontinued operations as it related to the total gross book value of our unencumbered real estate assets. There were no additional properties classified as discontinued operations during the three months ended March 31, 2018 and, as such, no interest expense was allocated to discontinued operations during that period. The following table illustrates the operational results of the buildings reflected in discontinued operations (in thousands): Three Months Ended March 31, 2018 2017 Revenues $ 5 $ 46,239 Operating expenses (13 ) (14,996 ) Depreciation and amortization — (19,534 ) Operating (loss) income (8 ) 11,709 Interest expense — (6,343 ) (Loss) income before gain on sales (8 ) 5,366 Gain on sale of depreciable properties 132 — Income from discontinued operations $ 124 $ 5,366 There were no capital expenditures for properties within discontinued operations during the three months ended March 31, 2018 . Capital expenditures on a cash basis for the three months ended March 31, 2017 were $12.6 million for properties within discontinued operations. Allocation of Noncontrolling Interests - General Partner The following table illustrates the General Partner's share of the income attributable to common shareholders from continuing operations and discontinued operations, reduced by the allocation of income between continuing and discontinued operations to the noncontrolling interests (in thousands): Three Months Ended March 31, 2018 2017 Income from continuing operations attributable to common shareholders $ 72,840 $ 64,884 Income from discontinued operations attributable to common shareholders 123 5,316 Net income attributable to common shareholders $ 72,963 $ 70,200 Allocation of Noncontrolling Interests - Partnership Substantially all of the income from discontinued operations for all periods presented in the Partnership's Consolidated Statements of Operations and Comprehensive Income is attributable to the common unitholders. Assets Held for Sale At March 31, 2018 , two in-service properties and ten acres of undeveloped land were classified as held for sale but did not meet the criteria to be classified within discontinued operations. The following table illustrates aggregate balance sheet information for all properties and land held for sale (in thousands): Held-for-Sale Properties Included in Continuing Operations March 31, 2018 December 31, 2017 Land and improvements $ 9,055 $ 8,157 Buildings and tenant improvements 15,283 10,505 Undeveloped land 706 — Accumulated depreciation (4,824 ) (2,553 ) Deferred leasing and other costs, net 862 862 Other assets 658 579 Total assets held for sale $ 21,740 $ 17,550 Total liabilities related to assets held for sale $ 1,327 $ 1,163

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Declaration of Dividends/Distributions The General Partner's board of directors declared the following dividends/distributions at its regularly scheduled board meeting held on April 25, 2018 : Class of stock/units Quarterly Amount per Share or Unit Record Date Payment Date Common - Quarterly $0.20 May 16, 2018 May 31, 2018

New Accounting Pronouncements R

New Accounting Pronouncements Restricted Cash Table (Tables)	3 Months Ended
	Mar. 31, 2018
Restricted Cash Equivalents [Abstract]
Restrictions on Cash and Cash Equivalents [Table Text Block]	March 31, December 31, Cash and cash equivalents $ 160,861 $ 67,562 Restricted cash held in escrow for like-kind exchange 59,196 116,405 Restricted cash included in other escrow deposits and other assets 8,306 9,660 Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows $ 228,363 $ 193,627

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The following table summarizes amounts recognized for each major class of assets and liability (in thousands) for these acquisitions during the three months ended March 31, 2018 : Real estate assets $ 21,537 Lease related intangible assets 1,693 Total acquired assets 23,230 Below market lease liability 367 Fair value of acquired net assets $ 22,863
Summary of Most Significant Assumptions Utilized in the Estimations [Table Text Block]	The most significant assumptions used in calculating the "as-if vacant" value for acquisition activity during the three months ended March 31, 2018 are as follows: Low High Exit capitalization rate 4.50% 4.50% Net rental rate per square foot $9.12 $10.20

Indebtedness (Tables)

Indebtedness (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Fair Value, Liabilities Measured on a Recurring Basis, Disclosure Only	The following table summarizes the book value and changes in the fair value of our debt (in thousands): Book Value at 12/31/2017 Book Value at 3/31/2018 Fair Value at 12/31/2017 Issuances and Assumptions Payments/Payoffs Adjustments to Fair Value Fair Value at 3/31/2018 Fixed rate secured debt $ 309,463 $ 308,099 $ 325,753 $ — $ (1,345 ) $ (3,756 ) $ 320,652 Variable rate secured debt 2,500 2,500 2,500 — — — 2,500 Unsecured debt 2,132,042 2,131,386 2,190,548 — (656 ) (60,502 ) 2,129,390 Unsecured line of credit — 75,000 — 75,000 — — 75,000 Total $ 2,444,005 $ 2,516,985 $ 2,518,801 $ 75,000 $ (2,001 ) $ (64,258 ) $ 2,527,542 Less: Deferred financing costs 21,114 20,529 Total indebtedness as reported on the consolidated balance sheets $ 2,422,891 $ 2,496,456
Unsecured Line of Credit	Our unsecured line of credit at March 31, 2018 is described as follows (in thousands): Description Borrowing Capacity Maturity Date Outstanding Balance at March 31, 2018 Unsecured Line of Credit - Partnership $ 1,200,000 January 30, 2022 $ 75,000

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Schedule of Fees Earned from Related Parties	The following table summarizes the fees earned from these joint ventures, prior to the elimination of our ownership percentage (in thousands): Three Months Ended March 31, 2018 2017 Management fees $ 442 $ 811 Leasing fees 302 434 Construction and development fees 697 624

Net Income (Loss) Per Common 23

Net Income (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Reconciling the Components of Basic and Diluted Net Income (Loss) per Common Share	The following table reconciles the components of basic and diluted net income per common share or Common Unit (in thousands): Three Months Ended March 31, 2018 2017 General Partner Net income attributable to common shareholders $ 72,963 $ 70,200 Less: dividends on participating securities (437 ) (542 ) Basic net income attributable to common shareholders 72,526 69,658 Add back dividends on dilutive participating securities — 305 Noncontrolling interest in earnings of common unitholders 683 652 Diluted net income attributable to common shareholders $ 73,209 $ 70,615 Weighted average number of common shares outstanding 356,740 355,282 Weighted average Limited Partner Units outstanding 3,355 3,316 Other potential dilutive shares 305 2,102 Weighted average number of common shares and potential dilutive securities 360,400 360,700 Partnership Net income attributable to common unitholders $ 73,646 $ 70,852 Less: distributions on participating securities (437 ) (542 ) Basic net income attributable to common unitholders $ 73,209 $ 70,310 Add back distributions on dilutive participating securities — 305 Diluted net income attributable to common unitholders $ 73,209 $ 70,615 Weighted average number of Common Units outstanding 360,095 358,598 Other potential dilutive units 305 2,102 Weighted average number of Common Units and potential dilutive securities 360,400 360,700
Computation of Anti-Dilutive Common Share	The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands): Three Months Ended March 31, 2018 2017 General Partner and Partnership Other potential dilutive shares or units: Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans — — Anti-dilutive outstanding participating securities 2,272 1,389

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following table shows the revenues for each of the reportable segments, as well as a reconciliation to consolidated revenues (in thousands): Three Months Ended March 31, 2018 2017 Revenues Rental Operations: Industrial $ 189,315 $ 156,882 Non-reportable Rental Operations 3,453 14,416 Service Operations 41,101 9,399 Total segment revenues 233,869 180,697 Other revenue 688 378 Consolidated revenue from continuing operations 234,557 181,075 Discontinued operations 5 46,239 Consolidated revenue $ 234,562 $ 227,314
Summary of Net Operation Income	The following table shows a reconciliation of our segment-level measures of profitability to consolidated income from continuing operations before income taxes (in thousands and excluding discontinued operations): Three Months Ended March 31, 2018 2017 PNOI Industrial $ 133,388 $ 114,680 Non-reportable Rental Operations 921 927 PNOI, excluding all sold properties 134,309 115,607 PNOI from sold properties included in continuing operations 1,606 2,905 PNOI, continuing operations $ 135,915 $ 118,512 Earnings from Service Operations 692 1,775 Rental Operations revenues and expenses excluded from PNOI: Straight-line rental income and expense, net 6,289 1,577 Revenues related to lease buyouts 23 9,785 Amortization of lease concessions and above and below market rents 545 (543 ) Intercompany rents and other adjusting items 14 180 Non-Segment Items: Equity in earnings of unconsolidated joint ventures 8,287 4,749 Interest expense (20,000 ) (24,162 ) Depreciation and amortization expense (77,529 ) (62,023 ) Gain on sale of properties 44,886 37,046 Impairment charges — (859 ) Interest and other income, net 4,463 533 General and administrative expenses (21,023 ) (19,232 ) Gain on land sales 2,949 1,505 Other operating expenses (786 ) (738 ) Gain on extinguishment of debt — 25 Other non-segment revenues and expenses, net (872 ) (583 ) Income from continuing operations before income taxes $ 83,853 $ 67,547

Real Estate Assets, Discontin25

Real Estate Assets, Discontinued Operations and Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Real Estate Properties [Table Text Block]	Real estate assets, excluding assets held for sale, consisted of the following (in thousands): March 31, 2018 December 31, 2017 Buildings and tenant improvements $ 4,668,740 $ 4,642,832 Land and improvements 1,939,854 1,950,735 Real estate assets $ 6,608,594 $ 6,593,567
Table Illustration of Number of Properties in Discontinued Operations	The following table illustrates the number of sold or held-for-sale properties included in, or excluded from, discontinued operations in this report: Held-for-Sale at March 31, 2018 Sold Year-to-Date in 2018 Sold in 2017 Total Total properties included in discontinued operations — — 81 81 Properties excluded from discontinued operations 2 6 17 25 Total properties sold or classified as held-for-sale 2 6 98 106
Table Illustration of Discontinued Operations in Statement of Operations	The following table illustrates the operational results of the buildings reflected in discontinued operations (in thousands): Three Months Ended March 31, 2018 2017 Revenues $ 5 $ 46,239 Operating expenses (13 ) (14,996 ) Depreciation and amortization — (19,534 ) Operating (loss) income (8 ) 11,709 Interest expense — (6,343 ) (Loss) income before gain on sales (8 ) 5,366 Gain on sale of depreciable properties 132 — Income from discontinued operations $ 124 $ 5,366
Allocation of Common Shareholders' Income (Loss) Between Continuing and Discontinued Operations	The following table illustrates the General Partner's share of the income attributable to common shareholders from continuing operations and discontinued operations, reduced by the allocation of income between continuing and discontinued operations to the noncontrolling interests (in thousands): Three Months Ended March 31, 2018 2017 Income from continuing operations attributable to common shareholders $ 72,840 $ 64,884 Income from discontinued operations attributable to common shareholders 123 5,316 Net income attributable to common shareholders $ 72,963 $ 70,200
Schedule of Discontinued Operations, Properties Held-for-Sale, Aggregate Balance Sheet Information [Table Text Block]	he following table illustrates aggregate balance sheet information for all properties and land held for sale (in thousands): Held-for-Sale Properties Included in Continuing Operations March 31, 2018 December 31, 2017 Land and improvements $ 9,055 $ 8,157 Buildings and tenant improvements 15,283 10,505 Undeveloped land 706 — Accumulated depreciation (4,824 ) (2,553 ) Deferred leasing and other costs, net 862 862 Other assets 658 579 Total assets held for sale $ 21,740 $ 17,550 Total liabilities related to assets held for sale $ 1,327 $ 1,163

Subsequent Events (Tables)

Subsequent Events (Tables)	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Schedule of Dividends Declared	The General Partner's board of directors declared the following dividends/distributions at its regularly scheduled board meeting held on April 25, 2018 : Class of stock/units Quarterly Amount per Share or Unit Record Date Payment Date Common - Quarterly $0.20 May 16, 2018 May 31, 2018

General Basis of Presentation27

General Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2018
Common partnership interests of DRLP Owned	99.10%
Duke Realty Limited Partnership [Member]
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest	0.90%

New Accounting Pronouncements28

New Accounting Pronouncements Revenue Recognition (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Billings in Excess of Cost	$ 295,000	$ 276,000

New Accounting Pronouncements29

New Accounting Pronouncements Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and Cash Equivalents, at Carrying Value	$ 160,861	$ 67,562
Restricted cash held in escrow for like-kind exchange	59,196	116,405
Escrow Deposit	8,306	9,660
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 228,363	$ 193,627	$ 79,577	$ 57,038

Variable Interest Entities (Bal

Variable Interest Entities (Balances Related to Joint Ventures) (Details) $ in Millions	Mar. 31, 2018USD ($)
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Maximum Guarantee Exposure for Joint Venture Loans	$ 102.9

Acquisitions and Dispositions31

Acquisitions and Dispositions (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018buildings
Property, Plant and Equipment [Line Items]
Number of Real Estate Properties	2
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years 4 months 24 days

Acquisitions and Dispositions32

Acquisitions and Dispositions (Summary of Allocation of Fair Value of Amounts Recognized) (Details) $ in Thousands	Mar. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Real estate assets	$ 21,537
Lease related intangible assets	1,693
Total acquired assets	23,230
Below Market Lease, Gross	367
Fair value of acquired net assets	$ 22,863

Acquisitions and Dispositions33

Acquisitions and Dispositions (Summary of Significant Assumptions Utilized in Estimates) (Details)	3 Months Ended
	Mar. 31, 2018$ / sqft
Minimum [Member]
Property, Plant and Equipment [Line Items]
Exit capitalization rate	4.50%
Maximum [Member]
Property, Plant and Equipment [Line Items]
Exit capitalization rate	4.50%
Industrial [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Net rental rate per square foot	9.12
Industrial [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Net rental rate per square foot	10.20

Acquisitions and Dispositions D

Acquisitions and Dispositions Dispositions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Dispositions Disclosures [Line Items]
Proceeds from Sale of Real Estate Held-for-investment	$ 131,380	$ 103,120

Indebtedness (Summary of Book V

Indebtedness (Summary of Book Value and Changes in Fair Value of Debt) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Book value	$ 2,496,456	$ 2,422,891
Fair value	2,527,542	2,518,801
Issuances and Assumptions	75,000
Payments/Payoffs	(2,001)
Adjustments to fair value	(64,258)
Long-term Debt, Gross	2,516,985	2,444,005
Debt Issuance Costs, Net	20,529	21,114
Fixed Rate Secured Debt [Member]
Book value	308,099	309,463
Fair value	320,652	325,753
Issuances and Assumptions	0
Payments/Payoffs	(1,345)
Adjustments to fair value	(3,756)
Variable Rate Secured Debt [Member]
Book value	2,500	2,500
Fair value	2,500	2,500
Issuances and Assumptions	0
Payments/Payoffs	0
Adjustments to fair value	0
Unsecured Debt [Member]
Book value	2,131,386	2,132,042
Fair value	2,129,390	2,190,548
Issuances and Assumptions	0
Payments/Payoffs	(656)
Adjustments to fair value	(60,502)
Unsecured Line of Credit DRLP [Member]
Book value	75,000	0
Fair value	75,000	$ 0
Issuances and Assumptions	75,000
Payments/Payoffs	0
Adjustments to fair value	$ 0

Indebtedness Secured Debt (Deta

Indebtedness Secured Debt (Details)	3 Months Ended
	Mar. 31, 2018USD ($)loans	Mar. 31, 2017USD ($)
Debt Instrument [Line Items]
Repayments of Secured Debt	$ 1,345,000	$ 17,539,000
Fixed Rate Secured Debt [Member]
Debt Instrument [Line Items]
Repayments of Secured Debt	$ 215,000
number of secured loans repaid | loans	1
Debt Instrument, Interest Rate, Stated Percentage	5.55%
Minimum [Member] | Fixed Rate Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	3.90%
Maximum [Member] | Fixed Rate Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	4.00%

Indebtedness Unsecured Debt (De

Indebtedness Unsecured Debt (Details) - Unsecured Debt [Member]	3 Months Ended
	Mar. 31, 2018
Debt Instrument [Line Items]
Debt Instrument, Estimated Trading Values, Percent of Face Value, Minimum	95.00%
Debt Instrument, Estimated Trading Values, Percent of Face Value, Maximum	122.00%
Debt Instrument, Covenant Compliance	We were in compliance with all such financial covenants at

Indebtedness (Unsecured Line of

Indebtedness (Unsecured Line of Credit) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Line of credit balance	$ 75,000	$ 0
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Description of Variable Rate Basis	LIBOR
Unsecured Line of Credit DRLP [Member]
Line of Credit Facility, Covenant Compliance	we were in compliance with all financial covenants under this line of credit.
Maximum Capacity	$ 1,200,000
Maturity date	Jan. 30, 2022
Line of Credit Facility Option to Increase Borrowing Limit	$ 800,000
Line of credit balance	75,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,000,000
Unsecured Line of Credit DRLP [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	0.875%
Line of Credit Facility, Interest Rate at Period End	2.75%

Related Party Transactions (Sch

Related Party Transactions (Schedule of Fees Earned from Related Parties) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Management Fees [Member]
Revenue from related party transactions	$ 442	$ 811
Leasing Fees [Member]
Revenue from related party transactions	302	434
Construction and Development Fees [Member]
Revenue from related party transactions	$ 697	$ 624

Net Income (Loss) Per Common 40

Net Income (Loss) Per Common Share Reconciling the Components of Basic and Diluted Net Income (Loss) per Common Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to common shareholders	$ 72,963	$ 70,200
Less: dividends on participating securities	(437)	(542)
Basic net income attributable to common shareholders	72,526	69,658
Add back dividends on dilutive participating securities	0	305
Noncontrolling interest in earnings of common unitholders	683	652
Diluted net income attributable to common shareholders	$ 73,209	$ 70,615
Weighted average number of common shares/units outstanding, Basic	356,740	355,282
Weighted average Limited Partner Units outstanding	3,355	3,316
Other potential dilutive shares/units	305	2,102
Weighted average number of common shares/units and potential dilutive securities	360,400	360,700
Duke Realty Limited Partnership [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to common shareholders	$ 73,646	$ 70,852
Less: dividends on participating securities	(437)	(542)
Basic net income attributable to common unitholders	73,209	70,310
Add back dividends on dilutive participating securities	0	305
Diluted net income attributable to common unitholders	$ 73,209	$ 70,615
Weighted average number of common shares/units outstanding, Basic	360,095	358,598
Other potential dilutive shares/units	305	2,102
Weighted average number of common shares/units and potential dilutive securities	360,400	360,700

Net Income (Loss) Per Common 41

Net Income (Loss) Per Common Share (Computation of Anti-Dilutive Common Shares) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	0	0
Participating Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	2,272	1,389

Segment Reporting Summary of Re

Segment Reporting Summary of Revenues (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of Reportable Segments	2
Rental and related revenue	$ 193,456	$ 171,676
General contractor and service fee revenue	41,101	9,399
Revenues	234,557	181,075
Disposal Group, Including Discontinued Operation, Revenue	5	46,239
Total Revenues Including Revenues Related To Discontinued Operations	234,562	227,314
Operating Segments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	233,869	180,697
Operating Segments [Member] | Industrial [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental and related revenue	189,315	156,882
Operating Segments [Member] | All Other Segments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental and related revenue	3,453	14,416
Operating Segments [Member] | Service Operations [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
General contractor and service fee revenue	41,101	9,399
Corporate, Non-Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental and related revenue	688	378
Disposal Group, Including Discontinued Operation, Revenue	$ 5	$ 46,239

Segment Reporting (Summary of N

Segment Reporting (Summary of Net Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement [Line Items]
Straight-line rental income and expense, net	$ 6,288	$ 2,928
Equity in earnings of unconsolidated joint ventures	8,287	4,749
Interest expense	(20,000)	(24,162)
Depreciation and amortization expense	(77,529)	(62,023)
Gain on sale of properties	44,886	37,046
Impairment Charges	0	(859)
Interest and other income, net	4,463	533
General and administrative expenses	(21,023)	(19,232)
Gain on land sales	2,949	1,505
Other operating expenses	(786)	(738)
Gain on extinguishment of debt	0	25
Income from continuing operations before income taxes	83,853	67,547
Operating Segments [Member]
Statement [Line Items]
Property Level Net Operating Income – Cash Basis	134,309	115,607
Property Level Net Income, Cash Basis, Continuing Operations	135,915	118,512
Operating Segments [Member] | Industrial [Member]
Statement [Line Items]
Property Level Net Operating Income – Cash Basis	133,388	114,680
Operating Segments [Member] | All Other Segments [Member]
Statement [Line Items]
Property Level Net Operating Income – Cash Basis	921	927
Operating Segments [Member] | Service Operations [Member]
Statement [Line Items]
Earnings from Service Operations	692	1,775
Segment Reconciling Items [Member]
Statement [Line Items]
PNOI from sold properties included in continuing operations	1,606	2,905
Straight-line rental income and expense, net	6,289	1,577
Revenues Related to Lease Buyouts	23	9,785
Amortization of lease concessions and above and below market rents	545	(543)
Intercompany rents and other adjusting items	14	180
Corporate, Non-Segment [Member]
Statement [Line Items]
Equity in earnings of unconsolidated joint ventures	8,287	4,749
Interest expense	(20,000)	(24,162)
Depreciation and amortization expense	(77,529)	(62,023)
Gain on sale of properties	44,886	37,046
Impairment Charges	0	(859)
Interest and other income, net	4,463	533
General and administrative expenses	(21,023)	(19,232)
Gain on land sales	2,949	1,505
Other operating expenses	(786)	(738)
Gain on extinguishment of debt	0	25
Other non-segment revenues and expenses, net	$ (872)	$ (583)

Real Estate Assets, Discontin44

Real Estate Assets, Discontinued Operations and Assets Held for Sale Real Estate Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Real Estate Assets [Abstract]
Investment Building and Building Improvements	$ 4,668,740	$ 4,642,832
Land and Land Improvements	1,939,854	1,950,735
Real Estate Assets	$ 6,608,594	$ 6,593,567

Real Estate Assets, Discontin45

Real Estate Assets, Discontinued Operations and Assets Held for Sale (Table Illustration of Number of Properties in Discontinued Operations) (Details) - buildings	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Number of properties held for sale in discontinued operations	0
Number of properties sold in discontinued operations	0	81
Total number of properties in discontinued operations	81
Continuing Operations, Number of In-service Properties Held for Sale	2
Continuing Operations, Number of Real Estate Properties Sold	6	17
Continuing Operations, Number of Real Estate Properties Sold or Classified as Held for Sale	25
Number of Real Estate Properties Held for Sale	2
Number of Real Estate Properties Sold	6	98
Total Properties Sold or Classified as Held for Sale	106

Real Estate Assets, Discontin46

Real Estate Assets, Discontinued Operations and Assets Held for Sale (Table Illustration of Discontinued Operations in Income Statement) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Discontinued Operations
Payments For Second Generation Tenant Improvements Leasing Costs And Building Improvements	$ 14,102	$ 10,431
Revenues	5	46,239
Operating Expenses	(13)	(14,996)
Depreciation and amortization	0	(19,534)
Operating (loss) income	(8)	11,709
Interest expense	0	(6,343)
(Loss) income before gain on sales and income tax	(8)	5,366
Gain on sale of depreciable properties	132	0
Income from discontinued operations	$ 124	5,366
Discontinued Operations [Member]
Discontinued Operations
Payments For Second Generation Tenant Improvements Leasing Costs And Building Improvements		$ 12,600

Real Estate Assets, Discontin47

Real Estate Assets, Discontinued Operations and Assets Held for Sale (Allocation of Shareholders' Income (Loss) Between Continuing and Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Discontinued Operations
Income (loss) from continuing operations attributable to common shareholders	$ 72,840	$ 64,884
Income (loss) from discontinued operations attributable to common shareholders	123	5,316
Net income attributable to common shareholders	$ 72,963	$ 70,200

Real Estate Assets, Discontin48

Real Estate Assets, Discontinued Operations and Assets Held for Sale (Aggregate Balance Sheet of Properties Held for Sale Included in Discontinued Operations) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)abuildings	Dec. 31, 2017USD ($)
Held for Sale Assets in Continuing and Discontinued Operations
Number of Real Estate Properties Held for Sale | buildings	2
Area of Land | a	10
Total assets held-for-sale	$ 21,740	$ 17,550
Total liabilities held-for-sale	1,327	1,163
Continuing Operations [Member]
Held for Sale Assets in Continuing and Discontinued Operations
Land and Land Improvements Held-for-Sale	9,055	8,157
Buildings and Tenant Improvements Held-for-Sale	15,283	10,505
Inventory, Land Held-for-sale	706	0
Accumulated Depreciation of Assets Held-for-Sale	(4,824)	(2,553)
Lease Related Assets, Held for Sale	862	862
Other assets	658	579
Total assets held-for-sale	21,740	17,550
Total liabilities held-for-sale	$ 1,327	$ 1,163

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - Common Stock [Member]	3 Months Ended
	Jun. 30, 2018$ / shares
Subsequent Event [Line Items]
Common stock dividends declared per share	$ 0.20
Record date	May 16, 2018
Dividends Payable, Date to be Paid	May 31, 2018