First Industrial 10-Q 4 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	FRFI
Entity Registrant Name	FIRST INDUSTRIAL LP
Entity Central Index Key	1,033,128
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Investment in Real Estate:
Land	$ 721,710	$ 718,188
Buildings and Improvements	2,444,751	2,439,887
Construction in Progress	34,576	25,294
Less: Accumulated Depreciation	(807,959)	(786,978)
Net Investment in Real Estate	2,393,078	2,396,391
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $228 and $0	398	0
Cash and Cash Equivalents	5,109	9,485
Restricted Cash	0	1,829
Tenant Accounts Receivable, Net	5,938	7,356
Investment in Joint Venture	0	71
Deferred Rent Receivable, Net	61,577	58,130
Deferred Financing Costs, Net	11,090	10,448
Deferred Leasing Intangibles, Net	31,104	33,526
Prepaid Expenses and Other Assets, Net	74,780	75,472
Total Assets	2,583,074	2,592,708
Indebtedness:
Mortgage Loans Payable, Net	593,976	599,985
Senior Unsecured Notes, Net	364,908	364,861
Unsecured Term Loan	200,000	200,000
Unsecured Credit Facility	191,000	185,000
Accounts Payable, Accrued Expenses and Other Liabilities	70,139	79,683
Deferred Leasing Intangibles, Net	12,142	12,726
Rents Received in Advance and Security Deposits	38,302	36,914
Distributions Payable	14,970	11,949
Total Liabilities	1,485,437	1,491,118
Commitments and Contingencies	0	0
Partners’ Capital:
General Partner Units (110,744,619 and 110,600,866 units outstanding)	1,024,280	1,034,129
Limited Partners Units (4,364,242 and 4,374,637 units outstanding)	80,193	80,757
Accumulated Other Comprehensive Loss	(7,938)	(14,376)
Total First Industrial L.P.'s Partners’ Capital	1,096,535	1,100,510
Noncontrolling Interest	1,102	1,080
Total Partners’ Capital	1,097,637	1,101,590
Total Liabilities and Partners’ Capital	$ 2,583,074	$ 2,592,708

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Real Estate and Other Assets Held for Sale Accumulated Depreciation and Amortization	$ 228	$ 0
General Partner Units, Outstanding	110,744,619	110,600,866
Limited Partners Units, Outstanding	4,364,242	4,374,637

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Rental Income	$ 69,886	$ 63,542	$ 138,096	$ 125,590
Tenant Recoveries and Other Income	20,570	20,502	42,302	42,315
Total Revenues	90,456	84,044	180,398	167,905
Expenses:
Property Expenses	27,827	26,921	57,618	57,237
General and Administrative	6,062	6,992	13,011	12,490
Acquisition Costs	319	76	319	111
Depreciation and Other Amortization	28,044	27,661	56,350	55,532
Total Expenses	62,252	61,650	127,298	125,370
Other Income (Expense):
Gain on Sale of Real Estate	2,197	0	10,127	0
Interest Income	33	671	57	1,373
Interest Expense	(16,363)	(18,924)	(33,005)	(37,970)
Amortization of Deferred Financing Costs	(764)	(803)	(1,510)	(1,607)
Mark-to-Market and Settlement Gain (Loss) on Interest Rate Protection Agreements	1,444	0	(11,546)	0
Loss from Retirement of Debt	0	(623)	0	(623)
Total Other Income (Expense)	(13,453)	(19,679)	(35,877)	(38,827)
Income from Continuing Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax Provision	14,751	2,715	17,223	3,708
Equity in (Loss) Income of Joint Ventures	(4)	556	67	3,522
Income Tax Provision	(81)	(79)	(141)	(89)
Income from Continuing Operations	14,666	3,192	17,149	7,141
Discontinued Operations:
Income Attributable to Discontinued Operations	0	732	0	1,138
Gain on Sale of Real Estate	0	320	0	1,055
Income from Discontinued Operations	0	1,052	0	2,193
Net Income	14,666	4,244	17,149	9,334
Less: Net Income Attributable to the Noncontrolling Interest	(22)	(17)	(48)	(29)
Net Income Attributable to Unitholders	14,644	4,227	17,101	9,305
Less: Preferred Unit Distributions	0	0	0	(1,019)
Less: Redemption of Preferred Units	0	0	0	(1,462)
Net Income Available to Unitholders and Participating Securities	$ 14,644	$ 4,227	$ 17,101	$ 6,824
Basic and Diluted Earnings Per Unit:
Income from Continuing Operations Available to Unitholders	$ 0.13	$ 0.03	$ 0.15	$ 0.04
Income from Discontinued Operations Attributable to Unitholders	0	0.01	0	0.02
Net Income Available to Unitholders	0.13	0.04	0.15	0.06
Distributions Per Unit	$ 0.1275	$ 0.1025	$ 0.255	$ 0.2050
Weighted Average Units Outstanding - Basic	114,712	114,278	114,697	114,262
Weighted Average Units Outstanding - Diluted	115,047	114,867	115,047	114,826

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income Attributable to Unitholders	$ 14,644	$ 4,227	$ 17,101	$ 9,305
Mark-to-Market Gain (Loss) on Interest Rate Protection Agreements	2,658	(2,893)	(6,788)	(4,497)
Reclassification of Fair Value of Interest Rate Protection Agreements (See Note 10)	0	0	12,990	0
Amortization of Interest Rate Protection Agreements	131	468	262	1,096
Foreign Currency Translation Adjustment	0	45	(26)	(5)
Comprehensive Income Attributable to Unitholders	$ 17,433	$ 1,847	$ 23,539	$ 5,899

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS CAPITAL - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total	General Partner Units	Limited Partner Units	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Balance at Dec. 31, 2014	$ 1,101,590	$ 1,034,129	$ 80,757	$ (14,376)	$ 1,080
Increase (Decrease) in Partners' Capital [Roll Forward]
Stock Based Compensation Activity	1,967	1,967
Conversion of Limited Partner Units to General Partner Units	0	100	(100)
Common Unit Distributions	(29,481)	(28,368)	(1,113)
Contributions from Noncontrolling Interest	10				10
Distributions to Noncontrolling Interest	(36)				(36)
Net Income	17,149	16,452	649		48
Other Comprehensive Income	6,438			6,438
Balance at Jun. 30, 2015	$ 1,097,637	$ 1,024,280	$ 80,193	$ (7,938)	$ 1,102

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 17,149	$ 9,334
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation	46,315	46,710
Amortization of Deferred Financing Costs	1,510	1,607
Other Amortization	14,349	17,031
Provision for Bad Debt	600	672
Equity in Income of Joint Ventures	(67)	(3,522)
Distributions from Joint Ventures	0	1,881
Gain on Sale of Real Estate	(10,127)	(1,055)
Loss from Retirement of Debt	0	623
Mark-to-Market and Settlement Loss on Interest Rate Protection Agreements	11,546	0
Decrease (Increase) in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net	489	(673)
Increase in Deferred Rent Receivable	(3,931)	(508)
Decrease in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits	(3,633)	(9,475)
Payments of Discounts and Prepayment Penalties Associated with Retirement of Debt	0	(10,648)
Net Cash Provided by Operating Activities	74,200	51,977
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions of Real Estate	(26,474)	(31,125)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs	(55,157)	(50,042)
Net Proceeds from Sales of Investments in Real Estate	41,211	4,417
Contributions to and Investments in Joint Ventures	(13)	(13)
Distributions from Joint Ventures	126	2,469
Settlement of Interest Rate Protection Agreements	(11,546)	0
Repayments of Notes Receivable	2,720	26,946
Decrease (Increase) in Escrows	1,306	(514)
Net Cash Used in Investing Activities	(47,827)	(47,862)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt and Equity Issuance and Redemption Costs	(2,152)	(2,060)
Repurchase and Retirement of Restricted Units	(2,101)	(2,060)
Common Unit Distributions Paid	(26,460)	(21,582)
Preferred Unit Distributions Paid	0	(1,471)
Redemption of Preferred Units	0	(75,000)
Contributions from Noncontrolling Interests	10	14
Distributions to Noncontrolling Interests	(36)	(358)
Repayments on Mortgage Loans Payable	(5,996)	(46,740)
Repayments of Senior Unsecured Notes	0	(71,578)
Proceeds from Unsecured Term Loan	0	200,000
Proceeds from Unsecured Credit Facility	76,000	262,000
Repayments on Unsecured Credit Facility	(70,000)	(248,000)
Net Cash Used in Financing Activities	(30,735)	(6,835)
Net Effect of Exchange Rate Changes on Cash and Cash Equivalents	(14)	(27)
Net Decrease in Cash and Cash Equivalents	(4,362)	(2,720)
Cash and Cash Equivalents, Beginning of Year	9,485	7,562
Cash and Cash Equivalents, End of Year	$ 5,109	$ 4,815

Organization and Formation of P

Organization and Formation of Partnership	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Formation of Partnership	1. Organization and Formation of Partnership First Industrial, L.P. (the "Operating Partnership") was organized as a limited partnership in the state of Delaware on November 23, 1993. The sole general partner is First Industrial Realty Trust, Inc. (the "Company"), which owns common units in the Operating Partnership ("Units") representing an approximate 96.2% ownership interest at June 30, 2015. The Company is a real estate investment trust ("REIT") as defined in the Internal Revenue Code of 1986. The Company’s operations are conducted primarily through the Operating Partnership. The limited partners of the Operating Partnership own, in the aggregate, approximately a 3.8% interest in the Operating Partnership at June 30, 2015. Operations are also conducted through other partnerships and limited liability companies ("LLCs") of which the Operating Partnership is the sole member, and taxable REIT subsidiaries (together with the Operating Partnership, other partnerships and the LLCs, the "Consolidated Operating Partnership"), the operating data of which is consolidated with that of the Operating Partnership as presented herein. Unless the context otherwise requires, the terms "we," "us" and "our" refer to First Industrial, L.P. and its controlled subsidiaries. We also hold at least a 99% limited partnership interest in each of eight limited partnerships (together, the "Other Real Estate Partnerships"). The general partners of the Other Real Estate Partnerships are separate corporations, each with at least a .01% general partnership interest in the Other Real Estate Partnerships for which it acts as a general partner. Each general partner of the Other Real Estate Partnerships is a wholly-owned subsidiary of the Company. The Other Real Estate Partnerships' operating data is presented herein on a consolidated basis. See Note 2. Profits, losses and distributions of us, the LLCs and Other Real Estate Partnerships are allocated to the general partner and the limited partners or the members, as applicable, in accordance with the provisions contained within the partnership agreements, operating agreements or other ownership agreements, as applicable. We also provide various services to two joint ventures (the "2003 Net Lease Joint Venture" and the "2007 Europe Joint Venture," collectively the "Joint Ventures"). Our noncontrolling equity ownership interests in the 2003 Net Lease Joint Venture and 2007 Europe Joint Venture are 15% and 10% , respectively. During the six months ended June 30, 2015, the 2003 Net Lease Joint Venture sold its last remaining industrial property comprising approximately 0.8 million square feet of gross leasable area ("GLA"). At June 30, 2015, the 2007 Europe Joint Venture did not own any properties. The Joint Ventures are accounted for under the equity method of accounting. Accordingly, the operating data of our Joint Ventures is not consolidated with that of the Company as presented herein. As of June 30, 2015, we owned 630 industrial properties located in 25 states, containing an aggregate of approximately 63.4 million square feet of GLA.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the accounting policies described in the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2014 ("2014 Form 10-K") and should be read in conjunction with such consolidated financial statements and related notes. The 2014 year end consolidated balance sheet data included in this Form 10-Q filing was derived from the audited consolidated financial statements in our 2014 Form 10-K and has been adjusted as a result of the adoption of the recent consolidation accounting pronouncement (discussed hereafter), but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). The following notes to these interim consolidated financial statements highlight significant changes to the notes included in the December 31, 2014 audited consolidated financial statements included in our 2014 Form 10-K and present interim disclosures as required by the Securities and Exchange Commission. In order to conform with GAAP, in preparation of our consolidated financial statements we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of June 30, 2015 and December 31, 2014, and the reported amounts of revenues and expenses for the three and six months ended June 30, 2015 and 2014. Actual results could differ from those estimates. In our opinion, the accompanying unaudited interim consolidated financial statements reflect all adjustments necessary for a fair statement of our financial position as of June 30, 2015 and December 31, 2014, the results of our operations and comprehensive income for each of the three and six months ended June 30, 2015 and 2014, and our cash flows for each of the six months ended June 30, 2015 and 2014; all adjustments are of a normal recurring nature. Reclassifications Certain reclassifications have been made to the 2014 financial statements to conform to the 2015 presentation. Discontinued Operations Effective January 1, 2015, we adopted Accounting Standards Update ("ASU") No. 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity" ("ASU 2014-08") for all properties not previously sold. ASU 2014-08 revised the reporting requirements to only allow a component of an entity, or group of components of an entity, to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Going forward, we expect the majority of our property dispositions will not qualify as discontinued operations and the results of the dispositions, including the gain on sale of real estate, will be presented in Income from Continuing Operations. Recent Accounting Pronouncements In February 2015, the Financial Accounting Standards Board ("FASB") issued ASU No. 2015-02, "Consolidation (Topic 810) - Amendments to the Consolidation Analysis" (“ASU 2015-02”). ASU 2015-02 updates consolidation guidance for legal entities such as limited partnerships, limited liability companies and securitization structures in an attempt to simplify consolidation accounting. ASU 2015-02 eliminates the presumption that a general partner should consolidate a limited partnership, modifies the evaluation of whether limited partnerships are variable interest entities ("VIE") or voting interest entities ("VOE") and adds requirements that limited partnerships must meet to qualify as VOEs. ASU 2015-02 is effective for fiscal years beginning after December 15, 2015, with early adoption permitted. Since formation of each partnership within the Other Real Estate Partnerships, we have accounted for each partnership under the equity method of accounting based on their VOE classification and the presumption that the general partners controlled the partnerships. However, under ASU 2015-02, we determined that each respective limited partnership within the the Other Real Estate Partnerships meet the criteria of a VIE. We also determined that we are the primary beneficiary for each respective limited partnership within the Other Real Estate Partnerships. As a result, we concluded we should cease accounting for Other Real Estate Partnerships under the equity method of accounting and consolidate the financial information of the Other Real Estate Partnerships within our financial statements. During the three months ended June 30, 2015, we elected early adoption of ASU 2015-02. We elected a full retrospective adoption approach which requires previously reported periods to be restated. The impact of this adoption on our previously reported periods is as follows: Balance Sheet as Previously Filed as of December 31, 2014 Impact of the Adoption of ASU 2015-02 Balance Sheet as Adjusted as of December 31, 2014 Total Assets $ 2,514,246 $ 78,462 $ 2,592,708 Total Liabilities $ 1,413,736 $ 77,382 $ 1,491,118 Total Noncontrolling Interest $ — $ 1,080 $ 1,080 The following table summarizes the assets and liabilities of the Other Real Estate Partnerships included in our consolidated balance sheets: June 30, 2015 December 31, 2014 ASSETS Assets: Net Investment in Real Estate $ 284,155 $ 278,720 Other Assets, Net 19,450 21,078 Total Assets $ 303,605 $ 299,798 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Mortgage Loans Payable $ 80,431 $ 81,231 Other Liabilities, Net 22,293 10,656 Partners’ Capital 200,881 207,911 Total Liabilities and Partners’ Capital $ 303,605 $ 299,798 In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03"), which amends the current presentation of debt issuance costs in the financial statements. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts, instead of as an asset. The amendments are to be applied retrospectively and are effective for interim and annual periods beginning after December 15, 2015. The adoption of ASU 2015-03 is not expected to have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. Most significantly for the real estate industry, leasing transactions are not within the scope of the new standard. A majority of our tenant-related revenue is recognized pursuant to lease agreements. In July 2015, the FASB deferred the effective date of ASU 2014-09 by one year. As a result, ASU 2014-09 is effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted for annual periods beginning after December 15, 2016. We are currently evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements.

Investment in Real Estate

Investment in Real Estate	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Investment in Real Estate	3. Investment in Real Estate Acquisitions During the six months ended June 30, 2015, we acquired two industrial properties comprising approximately 0.2 million square feet of GLA and several land parcels. The purchase price of these acquisitions totaled approximately $26,532 , excluding costs incurred in conjunction with the acquisition of the industrial properties and land parcels. The purchase price of the industrial properties and land parcels acquired was allocated as follows: Six Months Ended June 30, 2015 Land $ 12,475 Building and Improvements 12,928 Other Assets 237 Deferred Leasing Intangibles, Net 892 Total Purchase Price $ 26,532 Intangible Assets (Liabilities) Subject To Amortization in the Period of Acquisition The fair value at the date of acquisition of in-place leases and below market leases recorded due to the real estate properties acquired for the six months June 30, 2015, which are recorded as deferred leasing intangibles, is as follows: Six Months Ended June 30, 2015 In-Place Leases $ 999 Below Market Leases $ (107 ) The weighted average life, in months, of in-place leases and below market leases recorded at the time of acquisition as a result of the real estate properties acquired for the six months ended June 30, 2015 is as follows: Six Months Ended June 30, 2015 In-Place Leases 54 Below Market Leases 63 Real Estate Held for Sale At June 30, 2015, we had one industrial property comprising approximately 0.01 million square feet of GLA held for sale. There can be no assurance that the industrial property held for sale will be sold. See Subsequent Events. Sales and Discontinued Operations During the six months ended June 30, 2015, we sold 12 industrial properties comprising approximately 0.9 million square feet of GLA and a land parcel. Gross proceeds from the sales of the industrial properties and land parcel were approximately $42,611 . The gain on sale of real estate was approximately $10,127 . The industrial properties sold prior to January 1, 2015 that met the criteria to be classified as discontinued operations are presented as discontinued operations in the Consolidated Statements of Operations. Income from discontinued operations for the six months ended June 30, 2014 reflects the results of operations of the 29 industrial properties (as adjusted) tha t were sold during the year ended December 31, 2014 and the gain on sale of real estate relating to five indust rial properties (as adjusted) that were sold during the six months ended June 30, 2014. The following table discloses certain information regarding the industrial properties included in our discontinued operations for the three and six months ended June 30, 2014: (As Adjusted) (As Adjusted) Total Revenues $ 2,396 $ 4,756 Property Expenses (754 ) (1,792 ) Depreciation and Amortization (910 ) (1,826 ) Gain on Sale of Real Estate 320 1,055 Income from Discontinued Operations $ 1,052 $ 2,193

Indebtedness

Indebtedness	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Indebtedness	4. Indebtedness The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Rate at June 30, 2015 Effective Interest Rate at Issuance Maturity Date June 30, 2015 (As Adjusted) December 31, 2014 Mortgage Loans Payable, Net $ 593,976 $ 599,985 4.03% – 8.26% 4.03% – 8.26% February 2016 – September 2022 Unamortized Premiums (77 ) (90 ) Mortgage Loans Payable, Gross $ 593,899 $ 599,895 Senior Unsecured Notes, Net 2016 Notes $ 159,649 $ 159,621 5.75% 5.91% 1/15/2016 2017 Notes 54,968 54,966 7.50% 7.52% 12/1/2017 2027 Notes 6,067 6,066 7.15% 7.11% 5/15/2027 2028 Notes 31,885 31,884 7.60% 8.13% 7/15/2028 2032 Notes 10,520 10,518 7.75% 7.87% 4/15/2032 2017 II Notes 101,819 101,806 5.95% 6.37% 5/15/2017 Subtotal $ 364,908 $ 364,861 Unamortized Discounts 194 241 Senior Unsecured Notes, Gross $ 365,102 $ 365,102 Unsecured Term Loan* $ 200,000 $ 200,000 1.88% 1.88% 1/29/2021 Unsecured Credit Facility** $ 191,000 $ 185,000 1.34% 1.34% 3/11/2019 * We entered into interest rate protection agreements, with an aggregate notional value of $200,000 , to effectively convert the variable rate to a fixed rate. See Note 10. ** The maturity date may be extended an additional year at our election, subject to certain restrictions. Mortgage Loans Payable, Net As of June 30, 2015, mortgage loans payable are collateralized, and in some instances cross-collateralized, by industrial properties with a net carrying value of $727,751 . We believe the Operating Partnership and the Company were in compliance with all covenants relating to mortgage loans payable as of June 30, 2015. Unsecured Credit Facility On March 10, 2015, we amended and restated our $625,000 revolving credit agreement (the "Old Credit Facility") with a new $ 625,000 revolving credit agreement (as amended and restated, the "Unsecured Credit Facility"). We may request that the borrowing capacity under the Unsecured Credit Facility be increased to $900,000 , subject to certain restrictions. The amendment extended the maturity date from September 29, 2017 to March 11, 2019 with an option to extend an additional one year at our election, subject to certain restrictions. At June 30, 2015, the Unsecured Credit Facility provides for interest only payments at LIBOR plus 115 basis points. The interest rate on the Unsecured Credit Facility varies based on our leverage ratio. Indebtedness The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums and discounts, for the next five years as of June 30, and thereafter: Amount Remainder of 2015 $ 6,162 2016 251,870 2017 168,723 2018 168,341 2019 267,423 Thereafter 487,482 Total $ 1,350,001 The Unsecured Credit Facility, our $200,000 unsecured loan (the "Unsecured Term Loan") and the indentures governing our senior unsecured notes contain certain financial covenants, including limitations on incurrence of debt and debt service coverage. Under the Unsecured Credit Facility and Unsecured Term Loan, an event of default can occur if the lenders, in their good faith judgment, determine that a material adverse change has occurred which could prevent timely repayment or materially impair our ability to perform our obligations under the loan agreements. We believe that the Operating Partnership and the Company were in compliance with all covenants relating to the Unsecured Credit Facility, Unsecured Term Loan and indentures governing our senior unsecured notes as of June 30, 2015. However, these financial covenants are complex and there can be no assurance that these provisions would not be interpreted by our lenders and noteholders in a manner that could impose and cause us to incur material costs. Fair Value At June 30, 2015 and December 31, 2014, the fair value of our indebtedness was as follows: June 30, 2015 (As Adjusted) December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value Mortgage Loans Payable, Net $ 593,976 $ 630,655 $ 599,985 $ 640,818 Senior Unsecured Notes, Net 364,908 390,735 364,861 395,320 Unsecured Term Loan 200,000 200,530 200,000 200,575 Unsecured Credit Facility 191,000 191,000 185,000 185,747 Total $ 1,349,884 $ 1,412,920 $ 1,349,846 $ 1,422,460 The fair values of our mortgage loans payable were determined by discounting the future cash flows using the current rates at which similar loans would be made based upon similar remaining maturities. The current market rates we utilized were internally estimated. The fair value of the senior unsecured notes were determined by using rates, as advised by our bankers, that are based upon recent trades within the same series of the senior unsecured notes, recent trades for senior unsecured notes with comparable maturities, recent trades for fixed rate unsecured notes from companies with profiles similar to ours, as well as overall economic conditions. The fair value of the Unsecured Credit Facility and Unsecured Term Loan was determined by discounting the future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining term, assuming no repayment until maturity. We have concluded that our determination of fair value for each of our mortgage loans payable, senior unsecured notes, Unsecured Term Loan and Unsecured Credit Facility was primarily based upon Level 3 inputs.

Partners' Capital

Partners' Capital	6 Months Ended
	Jun. 30, 2015
Partners' Capital [Abstract]
Partners' Capital	5. Partners’ Capital Unit Contributions During the six months ended June 30, 2015 and 2014, 10,395 and 137,463 limited partnership Units, respectively, were converted into an equivalent number of general partnership Units, resulting in a reclassification of $100 and $1,333 , respectively, between Limited Partners Units and General Partner Units. Distributions During the six months ended June 30, 2015, we accrued $29,481 General and Limited Partner Unit distributions.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	6. Accumulated Other Comprehensive Loss The following tables summarize the changes in accumulated other comprehensive loss by component for the six months ended June 30, 2015 and the reclassifications out of accumulated other comprehensive loss for the three and six months ended June 30, 2015 and 2014: Interest Rate Protection Agreements Foreign Currency Translation Adjustment Total Balance as of December 31, 2014 $ (14,402 ) $ 26 $ (14,376 ) Other Comprehensive Loss Before Reclassifications (8,909 ) (26 ) (8,935 ) Amounts Reclassified from Accumulated Other Comprehensive Loss 15,373 — 15,373 Net Current Period Other Comprehensive Income (Loss) 6,464 (26 ) 6,438 Balance as of June 30, 2015 $ (7,938 ) $ — $ (7,938 ) Amount Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 Affected Line Item in the Consolidated Statements of Operations Interest Rate Protection Agreements: Reclassification of Fair Value of Interest Rate Protection Agreements (See Note 10) $ — $ — $ 12,990 $ — Mark-to-Market Loss on Interest Rate Protection Agreements Amortization of Interest Rate Protection Agreements (Previously Settled) 131 468 262 1,096 Interest Expense Settlement Payments to our Counterparties 1,064 1,079 2,121 1,812 Interest Expense $ 1,195 $ 1,547 $ 15,373 $ 2,908 Total The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in other comprehensive income (loss) and is subsequently reclassified to earnings through interest expense over the life of the derivative or over the life of the debt. In the next 12 months, we expect to amortize approximately $460 into net income by increasing interest expense for interest rate protection agreements we settled in previous periods. Additionally, recurring settlement amounts on the Group I Swaps, as defined in Note 10, will also be reclassified to net income. See Note 10 for more information about our derivatives.

Supplemental Information to Sta

Supplemental Information to Statements of Cash Flows	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Supplemental Information to Statements of Cash Flows	7. Supplemental Information to Statements of Cash Flows Six Months Ended June 30, 2015 (As Adjusted) Six Months Ended June 30, 2014 Interest Expense Capitalized in Connection with Development Activity $ 1,025 $ 742 Supplemental Schedule of Non-Cash Investing and Financing Activities: Distribution Payable on General and Limited Partner Units $ 14,970 $ 11,891 Exchange of Limited Partnership Units for General Partnership Units: Limited Partnership Units $ (100 ) $ (1,333 ) General Partnership Units 100 1,333 Total $ — $ — Assumption of Liabilities in Connection with the Acquisition of Real Estate $ 295 $ 183 Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate $ 16,863 $ 17,829 Write-off of Fully Depreciated Assets $ (20,146 ) $ (19,462 )

Earnings Per Unit (EPU)

Earnings Per Unit (EPU)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Unit (EPU)	8. Earnings Per Unit ("EPU") The computation of basic and diluted EPU is presented below: Three Months Ended June 30, 2015 (As Adjusted) Three Months Ended June 30, 2014 (As Adjusted) Six Months Ended June 30, 2015 (As Adjusted) Six Months Ended June 30, 2014 Numerator: Income from Continuing Operations $ 14,666 $ 3,192 $ 17,149 $ 7,141 Noncontrolling Interest Allocable to Continuing Operations (22 ) (16 ) (48 ) (27 ) Income from Continuing Operations Allocable to Participating Securities (50 ) (32 ) (91 ) (50 ) Income from Continuing Operations Attributable to Unitholders 14,594 3,144 17,010 7,064 Preferred Unit Distributions — — — (1,019 ) Redemption of Preferred Units — — — (1,462 ) Income from Continuing Operations Available to Unitholders $ 14,594 $ 3,144 $ 17,010 $ 4,583 Income from Discontinued Operations $ — $ 1,052 $ — $ 2,193 Noncontrolling Interest Allocable to Discontinued Operations — (1 ) — (2 ) Income from Discontinued Operations Allocable to Participating Securities — (11 ) — (25 ) Income from Discontinued Operations Attributable to Unitholders $ — $ 1,040 $ — $ 2,166 Net Income Available to Unitholders and Participating Securities $ 14,644 $ 4,227 $ 17,101 $ 6,824 Net Income Allocable to Participating Securities (50 ) (43 ) (91 ) (75 ) Net Income Available to Unitholders $ 14,594 $ 4,184 $ 17,010 $ 6,749 Denominator (In Thousands): Weighted Average Units—Basic 114,712 114,278 114,697 114,262 Effect of Dilutive Securities that Result in the Issuance of General Partner Units: LTIP performance units 335 589 350 564 Weighted Average Units - Diluted 115,047 114,867 115,047 114,826 Basic and Diluted EPU: Income from Continuing Operations Available to Unitholders $ 0.13 $ 0.03 $ 0.15 $ 0.04 Income from Discontinued Operations Attributable to Unitholders $ — $ 0.01 $ — $ 0.02 Net Income Available to Unitholders $ 0.13 $ 0.04 $ 0.15 $ 0.06 Participating securities include Units that correspond to the Company's 388,866 and 465,737 of unvested restricted stock awards outstanding at June 30, 2015 and 2014, respectively, which participate in non-forfeitable distributions of the Operating Partnership. Under the two class method, participating security holders are allocated income, in proportion to total weighted average Units outstanding, based upon the greater of net income (after reduction for preferred unit distributions and redemption of preferred Units) or common distributions declared.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2015
Share-based Compensation [Abstract]
Stock Based Compensation	9. Stock Based Compensation During the six months ended June 30, 2015, we awarded 216,975 shares of restricted stock awards to certain employees, which had a fair value of $4,708 on the date of approval by the Compensation Committee of the Board of Directors. These restricted stock awards were issued based upon the achievement of certain corporate performance goals for the calendar year 2014 and generally vest over a period of three years. Additionally, during the six months ended June 30, 2015, we awarded 17,385 shares of restricted stock to non-employee members of the Board of Directors, which had a fair value of $350 on the date of approval. These restricted stock awards vest over a one -year period. We issued Units to the Company in the same amounts for both award issuances. Compensation expense is charged to earnings over the vesting periods for the shares expected to vest except if the recipient is not required to provide future service in exchange for vesting of such shares. If vesting of a recipient's restricted stock award is not contingent upon future service, the expense is recognized immediately at the date of grant. During the six months ended June 30, 2015 and 2014, we recognized $1,250 and $1,451 , respectively, of compensation expense related to restricted stock awards granted to our Chief Executive Officer for which future service was not required. Additionally, during the six months ended June 30, 2015, 264,432 Long-Term Incentive Program ("LTIP") performance units ("2015 LTIP Unit Awards") were granted to certain employees. We issued Units to the Company in the same amounts. The 2015 LTIP Unit Awards had a fair value of $2,531 on the grant date as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation. The 2015 LTIP Unit Awards vest based upon the relative total shareholder return ("TSR") of our common stock compared to the TSRs of the MSCI US REIT Index and the NAREIT Industrial Index. The TSR for the granted units is calculated based upon the performance from January 1, 2015 through December 31, 2017. Compensation expense is charged to earnings on a straight-line basis over the performance period. At the end of the performance period each participant will be issued shares of our common stock equal to the maximum shares issuable to the participant for the performance period multiplied by a percentage, ranging from 0% to 100% , based on our TSR as compared to the TSRs of the MSCI US REIT Index and the NAREIT Industrial Index. The participant is also entitled to dividend equivalents for shares issued pursuant to vested 2015 LTIP Unit Awards. The dividend equivalents represent any common dividends that would have been paid with respect to such issued shares after the grant of the 2015 LTIP Unit Awards and prior to the date of settlement. We recognized $1,506 and $3,322 for the three months ended June 30, 2015 and 2014, and $4,067 and $4,897 for the six months ended June 30, 2015 and 2014, respectively, in amortization related to restricted stock awards and LTIP performance units. Restricted stock award and LTIP performance unit amortization capitalized in connection with development activities was not significant. At June 30, 2015, we had $8,558 in unrecognized compensation related to unvested restricted stock awards and LTIP performance units, which is expected to be recognized over a weighted average 1.01 year term.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	10. Derivatives Our objectives in using derivatives are to add stability to interest expense and to manage our cash flow volatility and exposure to interest rate movements. To accomplish this objective, we primarily use interest rate protection agreements as part of our interest rate risk management strategy. Interest rate protection agreements designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. In connection with the origination of the Unsecured Term Loan (see Note 4), during January 2014, we entered into four interest rate protection agreements, with an aggregate notional value of $200,000 , to manage our exposure to changes in the one month LIBOR rate (the “Group I Swaps”). The Group I Swaps fix the LIBOR rate at a weighted average rate of 2.29% and mature on January 29, 2021. We designated the Group I Swaps as cash flow hedges. In order to maintain our flexibility to pursue an offering of unsecured debt, during August 2014, we entered into three interest rate protection agreements, with an aggregate notional value of $220,000 , to manage our exposure to changes in the three month LIBOR rate (the "Group II Swaps"). The Group II Swaps fixed the LIBOR rate at a rate of 2.5795% and were effective from December 1, 2014 through December 1, 2024. At origination, we designated the Group II Swaps as cash flow hedges but, during the first quarter of 2015, the Group II Swaps were de-designated and the fair market value loss of $12,990 was reclassified to earnings from other comprehensive income since the Company determined the forecasted offering of unsecured debt was no longer probable to occur within the time period stated in the respective designation memos. During the six months ended June 30, 2015, the Company settled the Group II Swaps for a payment of $11,546 made to our derivative counterparties. For the three and six months ended June 30, 2015, $1,444 and ($11,546) , respectively, is recognized as mark-to-market and settlement gain (loss) on interest rate protection agreements. Our agreements with our derivative counterparties contain provisions where if we default on any of our indebtedness, then we could also be declared in default on our derivative obligations subject to certain thresholds. As of June 30, 2015, we had not posted any collateral related to these agreements and were not in breach of any of the agreement provisions. If we had breached these provisions, we could have been required to settle our obligations under the agreements at their termination value. The following table sets forth our financial liabilities related to the Group I Swaps, which are included in Accounts Payable, Accrued Expenses and Other Liabilities on the accompanying consolidated balance sheet and are accounted for at fair value on a recurring basis as of June 30, 2015: Fair Value Measurements at Reporting Date Using: Description Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Liabilities: Derivatives designated as a hedging instrument: Group I Swaps $ (6,077 ) — $ (6,077 ) — There was no ineffectiveness recorded on the Group I Swaps during the three and six months ended June 30, 2015. See Note 6 for more information. The estimated fair value of the Group I Swaps was determined using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments are incorporated in the fair value to account for potential non-performance risk, including our own non-performance risk and the respective counterparty’s non-performance risk. We determined that the significant inputs used to value the Group I Swaps fell within Level 2 of the fair value hierarchy.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies In the normal course of business, we are involved in legal actions arising from the ownership of our industrial properties. In our opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a materially adverse effect on our consolidated financial position, operations or liquidity. In conjunction with the development of industrial properties, we have entered into agreements with general contractors for the construction of industrial buildings. At June 30, 2015, we had seven industrial buildings totaling approximately 1.4 million square feet of GLA under construction. The estimated total investment as of June 30, 2015 is approximately $102,300 . Of this amount, approximately $53,900 remains to be funded. There can be no assurance that the actual completion cost will not exceed the estimated total investment stated above.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events From July 1, 2015 to August 3, 2015, we sold one industrial property and one land parcel for approximately $1,307 .

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain reclassifications have been made to the 2014 financial statements to conform to the 2015 presentation.
Discontinued Operations	Discontinued Operations Effective January 1, 2015, we adopted Accounting Standards Update ("ASU") No. 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity" ("ASU 2014-08") for all properties not previously sold. ASU 2014-08 revised the reporting requirements to only allow a component of an entity, or group of components of an entity, to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. Going forward, we expect the majority of our property dispositions will not qualify as discontinued operations and the results of the dispositions, including the gain on sale of real estate, will be presented in Income from Continuing Operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2015, the Financial Accounting Standards Board ("FASB") issued ASU No. 2015-02, "Consolidation (Topic 810) - Amendments to the Consolidation Analysis" (“ASU 2015-02”). ASU 2015-02 updates consolidation guidance for legal entities such as limited partnerships, limited liability companies and securitization structures in an attempt to simplify consolidation accounting. ASU 2015-02 eliminates the presumption that a general partner should consolidate a limited partnership, modifies the evaluation of whether limited partnerships are variable interest entities ("VIE") or voting interest entities ("VOE") and adds requirements that limited partnerships must meet to qualify as VOEs. ASU 2015-02 is effective for fiscal years beginning after December 15, 2015, with early adoption permitted. Since formation of each partnership within the Other Real Estate Partnerships, we have accounted for each partnership under the equity method of accounting based on their VOE classification and the presumption that the general partners controlled the partnerships. However, under ASU 2015-02, we determined that each respective limited partnership within the the Other Real Estate Partnerships meet the criteria of a VIE. We also determined that we are the primary beneficiary for each respective limited partnership within the Other Real Estate Partnerships. As a result, we concluded we should cease accounting for Other Real Estate Partnerships under the equity method of accounting and consolidate the financial information of the Other Real Estate Partnerships within our financial statements. During the three months ended June 30, 2015, we elected early adoption of ASU 2015-02. We elected a full retrospective adoption approach which requires previously reported periods to be restated. The impact of this adoption on our previously reported periods is as follows: Balance Sheet as Previously Filed as of December 31, 2014 Impact of the Adoption of ASU 2015-02 Balance Sheet as Adjusted as of December 31, 2014 Total Assets $ 2,514,246 $ 78,462 $ 2,592,708 Total Liabilities $ 1,413,736 $ 77,382 $ 1,491,118 Total Noncontrolling Interest $ — $ 1,080 $ 1,080 The following table summarizes the assets and liabilities of the Other Real Estate Partnerships included in our consolidated balance sheets: June 30, 2015 December 31, 2014 ASSETS Assets: Net Investment in Real Estate $ 284,155 $ 278,720 Other Assets, Net 19,450 21,078 Total Assets $ 303,605 $ 299,798 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Mortgage Loans Payable $ 80,431 $ 81,231 Other Liabilities, Net 22,293 10,656 Partners’ Capital 200,881 207,911 Total Liabilities and Partners’ Capital $ 303,605 $ 299,798 In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03"), which amends the current presentation of debt issuance costs in the financial statements. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts, instead of as an asset. The amendments are to be applied retrospectively and are effective for interim and annual periods beginning after December 15, 2015. The adoption of ASU 2015-03 is not expected to have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those good or services. Most significantly for the real estate industry, leasing transactions are not within the scope of the new standard. A majority of our tenant-related revenue is recognized pursuant to lease agreements. In July 2015, the FASB deferred the effective date of ASU 2014-09 by one year. As a result, ASU 2014-09 is effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted for annual periods beginning after December 15, 2016. We are currently evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of New Accounting Pronouncement	During the three months ended June 30, 2015, we elected early adoption of ASU 2015-02. We elected a full retrospective adoption approach which requires previously reported periods to be restated. The impact of this adoption on our previously reported periods is as follows: Balance Sheet as Previously Filed as of December 31, 2014 Impact of the Adoption of ASU 2015-02 Balance Sheet as Adjusted as of December 31, 2014 Total Assets $ 2,514,246 $ 78,462 $ 2,592,708 Total Liabilities $ 1,413,736 $ 77,382 $ 1,491,118 Total Noncontrolling Interest $ — $ 1,080 $ 1,080
Condensed Balance Sheet	The following table summarizes the assets and liabilities of the Other Real Estate Partnerships included in our consolidated balance sheets: June 30, 2015 December 31, 2014 ASSETS Assets: Net Investment in Real Estate $ 284,155 $ 278,720 Other Assets, Net 19,450 21,078 Total Assets $ 303,605 $ 299,798 LIABILITIES AND PARTNERS’ CAPITAL Liabilities: Mortgage Loans Payable $ 80,431 $ 81,231 Other Liabilities, Net 22,293 10,656 Partners’ Capital 200,881 207,911 Total Liabilities and Partners’ Capital $ 303,605 $ 299,798

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Summary of Acquisition Purchase Price Allocation	The purchase price of the industrial properties and land parcels acquired was allocated as follows: Six Months Ended June 30, 2015 Land $ 12,475 Building and Improvements 12,928 Other Assets 237 Deferred Leasing Intangibles, Net 892 Total Purchase Price $ 26,532
Summary of Intangible Assets (Liabilities) Subject to Amortization in Period of Acquisition	The fair value at the date of acquisition of in-place leases and below market leases recorded due to the real estate properties acquired for the six months June 30, 2015, which are recorded as deferred leasing intangibles, is as follows: Six Months Ended June 30, 2015 In-Place Leases $ 999 Below Market Leases $ (107 ) The weighted average life, in months, of in-place leases and below market leases recorded at the time of acquisition as a result of the real estate properties acquired for the six months ended June 30, 2015 is as follows: Six Months Ended June 30, 2015 In-Place Leases 54 Below Market Leases 63
Summary Regarding Industrial Properties Included in Discontinued Operations	The following table discloses certain information regarding the industrial properties included in our discontinued operations for the three and six months ended June 30, 2014: (As Adjusted) (As Adjusted) Total Revenues $ 2,396 $ 4,756 Property Expenses (754 ) (1,792 ) Depreciation and Amortization (910 ) (1,826 ) Gain on Sale of Real Estate 320 1,055 Income from Discontinued Operations $ 1,052 $ 2,193

Indebtedness (Tables)

Indebtedness (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Information Regarding Indebtedness	The following table discloses certain information regarding our indebtedness: Outstanding Balance at Interest Rate at June 30, 2015 Effective Interest Rate at Issuance Maturity Date June 30, 2015 (As Adjusted) December 31, 2014 Mortgage Loans Payable, Net $ 593,976 $ 599,985 4.03% – 8.26% 4.03% – 8.26% February 2016 – September 2022 Unamortized Premiums (77 ) (90 ) Mortgage Loans Payable, Gross $ 593,899 $ 599,895 Senior Unsecured Notes, Net 2016 Notes $ 159,649 $ 159,621 5.75% 5.91% 1/15/2016 2017 Notes 54,968 54,966 7.50% 7.52% 12/1/2017 2027 Notes 6,067 6,066 7.15% 7.11% 5/15/2027 2028 Notes 31,885 31,884 7.60% 8.13% 7/15/2028 2032 Notes 10,520 10,518 7.75% 7.87% 4/15/2032 2017 II Notes 101,819 101,806 5.95% 6.37% 5/15/2017 Subtotal $ 364,908 $ 364,861 Unamortized Discounts 194 241 Senior Unsecured Notes, Gross $ 365,102 $ 365,102 Unsecured Term Loan* $ 200,000 $ 200,000 1.88% 1.88% 1/29/2021 Unsecured Credit Facility** $ 191,000 $ 185,000 1.34% 1.34% 3/11/2019 * We entered into interest rate protection agreements, with an aggregate notional value of $200,000 , to effectively convert the variable rate to a fixed rate. See Note 10. ** The maturity date may be extended an additional year at our election, subject to certain restrictions.
Schedule of Maturities of Long-Term Debt	The following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of premiums and discounts, for the next five years as of June 30, and thereafter: Amount Remainder of 2015 $ 6,162 2016 251,870 2017 168,723 2018 168,341 2019 267,423 Thereafter 487,482 Total $ 1,350,001
Summary of Indebtedness at Estimated Fair Value	At June 30, 2015 and December 31, 2014, the fair value of our indebtedness was as follows: June 30, 2015 (As Adjusted) December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value Mortgage Loans Payable, Net $ 593,976 $ 630,655 $ 599,985 $ 640,818 Senior Unsecured Notes, Net 364,908 390,735 364,861 395,320 Unsecured Term Loan 200,000 200,530 200,000 200,575 Unsecured Credit Facility 191,000 191,000 185,000 185,747 Total $ 1,349,884 $ 1,412,920 $ 1,349,846 $ 1,422,460

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Loss [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following tables summarize the changes in accumulated other comprehensive loss by component for the six months ended June 30, 2015 and the reclassifications out of accumulated other comprehensive loss for the three and six months ended June 30, 2015 and 2014: Interest Rate Protection Agreements Foreign Currency Translation Adjustment Total Balance as of December 31, 2014 $ (14,402 ) $ 26 $ (14,376 ) Other Comprehensive Loss Before Reclassifications (8,909 ) (26 ) (8,935 ) Amounts Reclassified from Accumulated Other Comprehensive Loss 15,373 — 15,373 Net Current Period Other Comprehensive Income (Loss) 6,464 (26 ) 6,438 Balance as of June 30, 2015 $ (7,938 ) $ — $ (7,938 )
Reclassification Out of Accumulated Other Comprehensive Loss	Amount Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components Three Months Ended June 30, 2015 Three Months Ended June 30, 2014 Six Months Ended June 30, 2015 Six Months Ended June 30, 2014 Affected Line Item in the Consolidated Statements of Operations Interest Rate Protection Agreements: Reclassification of Fair Value of Interest Rate Protection Agreements (See Note 10) $ — $ — $ 12,990 $ — Mark-to-Market Loss on Interest Rate Protection Agreements Amortization of Interest Rate Protection Agreements (Previously Settled) 131 468 262 1,096 Interest Expense Settlement Payments to our Counterparties 1,064 1,079 2,121 1,812 Interest Expense $ 1,195 $ 1,547 $ 15,373 $ 2,908 Total

Supplemental Information to S25

Supplemental Information to Statements of Cash Flows (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Cash Flow Information	Six Months Ended June 30, 2015 (As Adjusted) Six Months Ended June 30, 2014 Interest Expense Capitalized in Connection with Development Activity $ 1,025 $ 742 Supplemental Schedule of Non-Cash Investing and Financing Activities: Distribution Payable on General and Limited Partner Units $ 14,970 $ 11,891 Exchange of Limited Partnership Units for General Partnership Units: Limited Partnership Units $ (100 ) $ (1,333 ) General Partnership Units 100 1,333 Total $ — $ — Assumption of Liabilities in Connection with the Acquisition of Real Estate $ 295 $ 183 Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate $ 16,863 $ 17,829 Write-off of Fully Depreciated Assets $ (20,146 ) $ (19,462 )

Earnings Per Unit (EPU) (Tables

Earnings Per Unit (EPU) (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Unit	The computation of basic and diluted EPU is presented below: Three Months Ended June 30, 2015 (As Adjusted) Three Months Ended June 30, 2014 (As Adjusted) Six Months Ended June 30, 2015 (As Adjusted) Six Months Ended June 30, 2014 Numerator: Income from Continuing Operations $ 14,666 $ 3,192 $ 17,149 $ 7,141 Noncontrolling Interest Allocable to Continuing Operations (22 ) (16 ) (48 ) (27 ) Income from Continuing Operations Allocable to Participating Securities (50 ) (32 ) (91 ) (50 ) Income from Continuing Operations Attributable to Unitholders 14,594 3,144 17,010 7,064 Preferred Unit Distributions — — — (1,019 ) Redemption of Preferred Units — — — (1,462 ) Income from Continuing Operations Available to Unitholders $ 14,594 $ 3,144 $ 17,010 $ 4,583 Income from Discontinued Operations $ — $ 1,052 $ — $ 2,193 Noncontrolling Interest Allocable to Discontinued Operations — (1 ) — (2 ) Income from Discontinued Operations Allocable to Participating Securities — (11 ) — (25 ) Income from Discontinued Operations Attributable to Unitholders $ — $ 1,040 $ — $ 2,166 Net Income Available to Unitholders and Participating Securities $ 14,644 $ 4,227 $ 17,101 $ 6,824 Net Income Allocable to Participating Securities (50 ) (43 ) (91 ) (75 ) Net Income Available to Unitholders $ 14,594 $ 4,184 $ 17,010 $ 6,749 Denominator (In Thousands): Weighted Average Units—Basic 114,712 114,278 114,697 114,262 Effect of Dilutive Securities that Result in the Issuance of General Partner Units: LTIP performance units 335 589 350 564 Weighted Average Units - Diluted 115,047 114,867 115,047 114,826 Basic and Diluted EPU: Income from Continuing Operations Available to Unitholders $ 0.13 $ 0.03 $ 0.15 $ 0.04 Income from Discontinued Operations Attributable to Unitholders $ — $ 0.01 $ — $ 0.02 Net Income Available to Unitholders $ 0.13 $ 0.04 $ 0.15 $ 0.06

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements on Recurring Basis	The following table sets forth our financial liabilities related to the Group I Swaps, which are included in Accounts Payable, Accrued Expenses and Other Liabilities on the accompanying consolidated balance sheet and are accounted for at fair value on a recurring basis as of June 30, 2015: Fair Value Measurements at Reporting Date Using: Description Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Liabilities: Derivatives designated as a hedging instrument: Group I Swaps $ (6,077 ) — $ (6,077 ) —

Organization and Formation of28

Organization and Formation of Partnership - Additional Information (Detail) - Jun. 30, 2015 ft² in Millions	ft²PropertyJoint_VenturesState
Organization And Formation Of Partnership [Line Items]
Ownership interest of sole general partner	96.20%
Ownership interest of limited partners	3.80%
Number of joint ventures | Joint_Ventures	2
Number of industrial properties sold	12
Gross leasable area (GLA) of industrial properties sold | ft²	0.9
Number of industrial properties owned	630
Number of states in which industrial properties are located | State	25
Gross leasable area (GLA) of industrial properties owned | ft²	63.4
2003 Net Lease Joint Venture
Organization And Formation Of Partnership [Line Items]
Noncontrolling equity ownership interest	15.00%
Number of industrial properties sold	1
Gross leasable area (GLA) of industrial properties sold | ft²	0.8
2007 Europe Joint Venture
Organization And Formation Of Partnership [Line Items]
Noncontrolling equity ownership interest	10.00%
Number of industrial properties owned	0
Other Real Estate Partnerships
Organization And Formation Of Partnership [Line Items]
Minimum ownership interest in limited partnerships	99.00%
Number of limited partners	8
Minimum ownership interest of limited partnerships	0.01%

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Summary of New Accounting Pronouncements (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Summary of New Accounting Pronouncement [Line Items]
Total Assets	$ 2,583,074	$ 2,592,708
Total Liabilities	1,485,437	1,491,118
Total Noncontrolling Interest	$ 1,102	1,080
Previously Reported
Summary of New Accounting Pronouncement [Line Items]
Total Assets		2,514,246
Total Liabilities		1,413,736
Total Noncontrolling Interest		0
Restatement Adjustment
Summary of New Accounting Pronouncement [Line Items]
Total Assets		78,462
Total Liabilities		77,382
Total Noncontrolling Interest		$ 1,080

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Condensed Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Net Investment in Real Estate	$ 2,393,078	$ 2,396,391
Total Assets	2,583,074	2,592,708
Liabilities and Partners' Capital:
Mortgage Loans Payable, Net	593,976	599,985
Partners’ Capital	1,096,535	1,100,510
Total Liabilities and Partners’ Capital	2,583,074	2,592,708
Other Real Estate Partnerships
Assets:
Net Investment in Real Estate	284,155	278,720
Other Assets, Net	19,450	21,078
Total Assets	303,605	299,798
Liabilities and Partners' Capital:
Mortgage Loans Payable, Net	80,431	81,231
Other Liabilities, Net	22,293	10,656
Partners’ Capital	200,881	207,911
Total Liabilities and Partners’ Capital	$ 303,605	$ 299,798

Investment in Real Estate - Add

Investment in Real Estate - Additional Information (Detail) ft² in Thousands, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)ft²Land_ParcelProperty	Jun. 30, 2014USD ($)Property	Dec. 31, 2014Property
Real Estate [Abstract]
Number pf industrial properties acquired	2
Gross leasable area (GLA) of industrial properties acquired | ft²	200
Purchase price of acquisitions | $	$ 26,532
Number of industrial properties held for sale	1
Gross leasable area (GLA) of industrial properties held for sale | ft²	10
Number of industrial properties sold	12
Gross leasable area (GLA) of industrial properties sold | ft²	900
Number of land parcels sold | Land_Parcel	1
Proceeds from the sale of industrial properties | $	$ 42,611
Gain on sale of real estate | $	$ 10,127	$ 1,055
Number of sold industrial properties included in discontinued operations		5	29

Investment in Real Estate - Sum

Investment in Real Estate - Summary of Acquisition Purchase Price Allocation (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Real Estate [Abstract]
Land	$ 12,475
Building and Improvements	12,928
Other Assets	237
Deferred Leasing Intangibles, Net	892
Total Purchase Price	$ 26,532

Investment in Real Estate - S33

Investment in Real Estate - Summary of Intangible Assets (Liabilities) Subject to Amortization in the Period of Acquisition (Detail) - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total
In-Place Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite lived intangible assets, fair value	$ 999
Acquired finite lived intangible assets, weighted average life	54 months
Below Market Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite lived intangible assets, fair value	$ (107)
Acquired finite lived intangible assets, weighted average life	63 months

Investment in Real Estate - S34

Investment in Real Estate - Summary Regarding Industrial Properties Included in Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Real Estate [Abstract]
Total Revenues		$ 2,396		$ 4,756
Property Expenses		(754)		(1,792)
Depreciation and Amortization		(910)		(1,826)
Gain on Sale of Real Estate	$ 0	320	$ 0	1,055
Income from Discontinued Operations	$ 0	$ 1,052	$ 0	$ 2,193

Indebtedness - Information Rega

Indebtedness - Information Regarding Indebtedness (Detail) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Mortgage Loans Payable, Net		$ 593,976	$ 599,985
Senior Unsecured Notes, Net		364,908	364,861
Unsecured Term Loan		200,000	200,000
Unsecured Credit Facility		191,000	185,000
2016 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Net		$ 159,649	159,621
Interest Rate		5.75%
Effective Interest Rate		5.91%
Maturity Date		Jan. 15, 2016
2017 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Net		$ 54,968	54,966
Interest Rate		7.50%
Effective Interest Rate		7.52%
Maturity Date		Dec. 1, 2017
2027 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Net		$ 6,067	6,066
Interest Rate		7.15%
Effective Interest Rate		7.11%
Maturity Date		May 15, 2027
2028 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Net		$ 31,885	31,884
Interest Rate		7.60%
Effective Interest Rate		8.13%
Maturity Date		Jul. 15, 2028
2032 Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Net		$ 10,520	10,518
Interest Rate		7.75%
Effective Interest Rate		7.87%
Maturity Date		Apr. 15, 2032
2017 II Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Net		$ 101,819	101,806
Interest Rate		5.95%
Effective Interest Rate		6.37%
Maturity Date		May 15, 2017
Mortgage Loans Payable
Debt Instrument [Line Items]
Mortgage Loans Payable, Net		$ 593,976	599,985
Unamortized Premiums		(77)	(90)
Mortgage Loans Payable, Gross		$ 593,899	599,895
Interest Rate, Minimum		4.03%
Interest Rate, Maximum		8.26%
Effective Interest Rate, Minimum		4.03%
Effective Interest Rate, Maximum		8.26%
Maturity Date Range, Start		Feb. 1, 2016
Maturity Date Range, End		Sep. 1, 2022
Senior Unsecured Notes
Debt Instrument [Line Items]
Senior Unsecured Notes, Net		$ 364,908	364,861
Unamortized Discounts		194	241
Senior Unsecured Notes, Gross		365,102	365,102
Unsecured Term Loan
Debt Instrument [Line Items]
Unsecured Term Loan	[1]	$ 200,000	200,000
Interest Rate	[1]	1.88%
Effective Interest Rate	[1]	1.88%
Maturity Date	[1]	Jan. 29, 2021
Unsecured Credit Facility
Debt Instrument [Line Items]
Unsecured Credit Facility	[2]	$ 191,000	$ 185,000
Interest Rate	[2]	1.34%
Effective Interest Rate	[2]	1.34%
Maturity Date	[2]	Mar. 11, 2019
[1]	We entered into interest rate protection agreements, with an aggregate notional value of $200,000, to effectively convert the variable rate to a fixed rate. See Note 10.
[2]	The maturity date may be extended an additional year at our election, subject to certain restrictions.

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Mar. 10, 2015	Jul. 19, 2013
Debt Disclosure [Line Items]
Unsecured Credit Facility, current borrowing capacity			$ 625,000
Mortgage Loans Payable
Debt Disclosure [Line Items]
Carrying value of industrial properties held under mortgages	$ 727,751
Unsecured Credit Facility
Debt Disclosure [Line Items]
Unsecured Credit Facility, current borrowing capacity		$ 625,000
Unsecured Credit Facility, additional borrowing capacity	$ 900,000
Number of years Unsecured Credit Facility may be extended	1 year
Unsecured Credit Facility, interest rate description	115
Unsecured Term Loan
Debt Disclosure [Line Items]
Unsecured Term Loan, face amount	$ 200,000
Interest Rate Protection Agreement
Debt Disclosure [Line Items]
Interest rate protection agreement, notional amount	$ 200,000

Indebtedness - Schedule of Matu

Indebtedness - Schedule of Maturities of Long-Term Debt (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Debt Disclosure [Abstract]
Remainder of 2015	$ 6,162
2,016	251,870
2,017	168,723
2,018	168,341
2,019	267,423
Thereafter	487,482
Total	$ 1,350,001

Indebtedness - Summary of Indeb

Indebtedness - Summary of Indebtedness at Estimated Fair Value (Detail) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Line Items]
Mortgage Loans Payable, Net, Carrying Amount		$ 593,976	$ 599,985
Senior Unsecured Notes, Net, Carrying Amount		364,908	364,861
Unsecured Term Loan, Carrying Amount		200,000	200,000
Unsecured Credit Facility, Carrying Amount		191,000	185,000
Total, Carrying Amount		1,349,884	1,349,846
Total, Fair Value		1,412,920	1,422,460
Mortgage Loans Payable, Net
Debt Disclosure [Line Items]
Mortgage Loans Payable, Net, Carrying Amount		593,976	599,985
Mortgage Loans Payable, Net, Fair Value		630,655	640,818
Senior Unsecured Notes, Net
Debt Disclosure [Line Items]
Senior Unsecured Notes, Net, Carrying Amount		364,908	364,861
Senior Unsecured Notes, Net, Fair Value		390,735	395,320
Unsecured Term Loan
Debt Disclosure [Line Items]
Unsecured Term Loan, Carrying Amount	[1]	200,000	200,000
Unsecured Term Loan, Fair Value		200,530	200,575
Unsecured Credit Facility
Debt Disclosure [Line Items]
Unsecured Credit Facility, Carrying Amount	[2]	191,000	185,000
Unsecured Credit Facility, Fair Value		$ 191,000	$ 185,747
[1]	We entered into interest rate protection agreements, with an aggregate notional value of $200,000, to effectively convert the variable rate to a fixed rate. See Note 10.
[2]	The maturity date may be extended an additional year at our election, subject to certain restrictions.

Partners' Capital - Additional

Partners' Capital - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Partners' Capital [Abstract]
Limited Partnership Units converted to General Partnership Units	10,395	137,463
Reclassification of Partner's Capital	$ 100	$ 1,333
Total distributions of Limited Partnership and General Partnership Units	$ 29,481

Accumulated Other Comprehensi40

Accumulated Other Comprehensive Loss - Changes in AOCI (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balance	$ (14,376)
Other Comprehensive Loss Before Reclassifications	(8,935)
Amounts Reclassified from Accumulated Other Comprehensive Loss	15,373
Net Current Period Other Comprehensive Income (Loss)	6,438
Balance	(7,938)
Interest Rate Protection Agreements
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balance	(14,402)
Other Comprehensive Loss Before Reclassifications	(8,909)
Amounts Reclassified from Accumulated Other Comprehensive Loss	15,373
Net Current Period Other Comprehensive Income (Loss)	6,464
Balance	(7,938)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balance	26
Other Comprehensive Loss Before Reclassifications	(26)
Amounts Reclassified from Accumulated Other Comprehensive Loss	0
Net Current Period Other Comprehensive Income (Loss)	(26)
Balance	$ 0

Accumulated Other Comprehensi41

Accumulated Other Comprehensive Loss - Amounts Reclassified from AOCI (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Mark-to-Market Loss on Interest Rate Protection Agreements	$ 1,444	$ 0	$ (11,546)	$ 0
Interest Expense	16,363	18,924	33,005	37,970
Total	(13,453)	(19,679)	(35,877)	(38,827)
Reclassification Out Of Accumulated Other Comprehensive Income | Interest Rate Protection Agreements:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total	1,195	1,547	15,373	2,908
Interest Rate Contract | Reclassification Out Of Accumulated Other Comprehensive Income | Interest Rate Protection Agreements:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest Expense	131	468	262	1,096
Interest Rate Swap | Reclassification Out Of Accumulated Other Comprehensive Income | Interest Rate Protection Agreements:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Mark-to-Market Loss on Interest Rate Protection Agreements	0	0	12,990	0
Interest Expense	$ 1,064	$ 1,079	$ 2,121	$ 1,812

Accumulated Other Comprehensi42

Accumulated Other Comprehensive Loss - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Accumulated Other Comprehensive Loss [Abstract]
Amoritzation to be reclassified from OCI into income	$ 460

Supplemental Information to S43

Supplemental Information to Statements of Cash Flows - Cash Flow Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Supplemental Cash Flow Information [Line Items]
Interest Expense Capitalized in Connection with Development Activity	$ 1,025	$ 742
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Distribution Payable on General and Limited Partner Units	14,970		$ 11,949
Exchange of Limited Partnership Units for General Partnership Units:
Conversion of Limited Partner Units to General Partner Units	0	0
Assumption of Liabilities in Connection with the Acquisition of Real Estate	295	183
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate	16,863	17,829
Write-off of Fully Depreciated Assets	(20,146)	(19,462)
General Partner Units
Exchange of Limited Partnership Units for General Partnership Units:
Conversion of Limited Partner Units to General Partner Units	100	1,333
Limited Partner Units
Exchange of Limited Partnership Units for General Partnership Units:
Conversion of Limited Partner Units to General Partner Units	(100)	(1,333)
General and Limited Partner Units
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Distribution Payable on General and Limited Partner Units	$ 14,970	$ 11,891

Earnings Per Unit (EPU) - Compu

Earnings Per Unit (EPU) - Computation of Basic and Diluted EPU (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Income from Continuing Operations	$ 14,666	$ 3,192	$ 17,149	$ 7,141
Noncontrolling Interest Allocable to Continuing Operations	(22)	(16)	(48)	(27)
Income from Continuing Operations Allocable to Participating Securities	(50)	(32)	(91)	(50)
Income from Continuing Operations Attributable to Unitholders	14,594	3,144	17,010	7,064
Preferred Unit Distributions	0	0	0	(1,019)
Redemption of Preferred Units	0	0	0	(1,462)
Income from Continuing Operations Available to Unitholders	14,594	3,144	17,010	4,583
Income from Discontinued Operations	0	1,052	0	2,193
Noncontrolling Interest Allocable to Discontinued Operations	0	(1)	0	(2)
Income from Discontinued Operations Allocable to Participating Securities	0	(11)	0	(25)
Income from Discontinued Operations Attributable to Unitholders	0	1,040	0	2,166
Net Income Available to Unitholders and Participating Securities	14,644	4,227	17,101	6,824
Net Income Allocable to Participating Securities	(50)	(43)	(91)	(75)
Net Income Available to Unitholders	$ 14,594	$ 4,184	$ 17,010	$ 6,749
Denominator (In Thousands):
Weighted Average Units—Basic	114,712	114,278	114,697	114,262
LTIP performance units	335	589	350	564
Weighted Average Units - Diluted	115,047	114,867	115,047	114,826
Basic and Diluted EPU:
Income from Continuing Operations Available to Unitholders	$ 0.13	$ 0.03	$ 0.15	$ 0.04
Income from Discontinued Operations Attributable to Unitholders	0	0.01	0	0.02
Net Income Available to Unitholders	$ 0.13	$ 0.04	$ 0.15	$ 0.06

Earnings Per Unit (EPU) - Addit

Earnings Per Unit (EPU) - Additional Information (Detail) - shares	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Unvested restricted stock awards	388,866	465,737

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amortization related to restricted stock awards and LTIP Unit Awards	$ 1,506	$ 3,322	$ 4,067	$ 4,897
Unrecognized compensation related to unvested restricted stock and unit awards	$ 8,558		$ 8,558
Weighted average period of unrecognized compensation expected to be recognized			1 year 5 days
Long-Term Incentive Program | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			0.00%
Long-Term Incentive Program | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			100.00%
Management | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and unit awards to employees			216,975
Fair value of restricted stock and unit awards			$ 4,708
Vesting period of restricted stock			3 years
Compensation expense recognized at date of grant			$ 1,250	$ 1,451
Management | Long-Term Incentive Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and unit awards to employees			264,432
Fair value of restricted stock and unit awards			$ 2,531
Director | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and unit awards to employees			17,385
Fair value of restricted stock and unit awards			$ 350
Vesting period of restricted stock			1 year

Derivatives - Additional Inform

Derivatives - Additional Information (Detail) - USD ($) $ in Thousands	Aug. 01, 2014	Jan. 29, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative [Line Items]
Reclassification of fair value of interest rate protection agreements			$ 0	$ 0	$ (12,990)	$ 0
Mark-to-Market and Settlement Gain (Loss) on Interest Rate Protection Agreements			$ 1,444	$ 0	(11,546)	$ 0
Group I Swaps
Derivative [Line Items]
Swaps, number of instruments held		4
Swaps, notional amount		$ 200,000
Swaps, variable rate		one month LIBOR
Swaps, weighted average fixed rate		2.29%
Group II Swaps
Derivative [Line Items]
Swaps, number of instruments held	3
Swaps, notional amount	$ 220,000
Swaps, variable rate	three month LIBOR
Swaps, weighted average fixed rate	2.5795%
Reclassification of fair value of interest rate protection agreements					12,990
Settlement payment on Group II Swaps					$ 11,546

Derivatives - Fair Value Measur

Derivatives - Fair Value Measurements on Recurring Basis (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Fair Value on Recurring Basis [Line Items]
Group I Swaps	$ (6,077)
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value on Recurring Basis [Line Items]
Group I Swaps	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value on Recurring Basis [Line Items]
Group I Swaps	(6,077)
Fair Value, Measurements, Recurring | Unobservable Inputs (Level 3)
Fair Value on Recurring Basis [Line Items]
Group I Swaps	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Jun. 30, 2015 $ in Thousands, ft² in Millions	USD ($)ft²Property
Commitments and Contingencies Disclosure [Abstract]
Number of industrial properties under construction | Property	7
Gross leasable area (GLA) of industrial properties under construction | ft²	1.4
Estimated total investment	$ 102,300
Estimated total investment remaining to be funded	$ 53,900

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Thousands	1 Months Ended	6 Months Ended
	Aug. 03, 2015USD ($)Land_ParcelProperty	Jun. 30, 2015USD ($)Land_ParcelProperty
Subsequent Event [Line Items]
Number of industrial properties sold | Property		12
Number of land parcels sold		1
Proceeds from the sale of industrial properties and land parcels | $		$ 42,611
Subsequent Events
Subsequent Event [Line Items]
Number of industrial properties sold | Property	1
Number of land parcels sold	1
Proceeds from the sale of industrial properties and land parcels | $	$ 1,307