Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 27, 2014 | Jun. 28, 2013 |
Entity Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'FR | ' | ' |
Entity Registrant Name | 'FIRST INDUSTRIAL REALTY TRUST INC | ' | ' |
Entity Central Index Key | '0000921825 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 110,003,263 | ' |
Entity Public Float | ' | ' | $1,637.70 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Investment in Real Estate: | ' | ' | ||
Land | $703,478 | $691,726 | ||
Buildings and Improvements | 2,390,566 | 2,403,654 | ||
Construction in Progress | 25,503 | 26,068 | ||
Less: Accumulated Depreciation | -748,044 | -732,635 | ||
Net Investment in Real Estate | 2,371,503 | 2,388,813 | ||
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $0 and $3,050 | 0 | 6,765 | ||
Cash and Cash Equivalents | 7,577 | 4,938 | ||
Tenant Accounts Receivable, Net | 5,705 | 4,596 | ||
Investments in Joint Ventures | 907 | 1,012 | ||
Deferred Rent Receivable, Net | 56,417 | 54,563 | ||
Deferred Financing Costs, Net | 11,406 | 12,028 | ||
Deferred Leasing Intangibles, Net | 29,790 | 33,190 | ||
Prepaid Expenses and Other Assets, Net | 114,205 | 102,937 | ||
Total Assets | 2,597,510 | 2,608,842 | ||
Indebtedness: | ' | ' | ||
Mortgage Loans Payable, Net | 677,890 | 763,616 | ||
Senior Unsecured Notes, Net | 445,916 | 474,150 | ||
Unsecured Credit Facility | 173,000 | [1] | 98,000 | [1] |
Accounts Payable, Accrued Expenses and Other Liabilities | 75,305 | 80,647 | ||
Deferred Leasing Intangibles, Net | 13,626 | 15,522 | ||
Rents Received in Advance and Security Deposits | 30,265 | 30,802 | ||
Dividend Payable | 10,289 | 452 | ||
Total Liabilities | 1,426,291 | 1,463,189 | ||
Commitments and Contingencies | 0 | 0 | ||
First Industrial Realty Trust Inc.’s Stockholders’ Equity: | ' | ' | ||
Preferred Stock | 0 | 0 | ||
Common Stock ($0.01 par value, 150,000,000 shares authorized, 114,304,964 and 103,092,027 shares issued and 109,980,850 and 98,767,913 shares outstanding) | 1,143 | 1,031 | ||
Additional Paid-in-Capital | 1,938,886 | 1,906,490 | ||
Distributions in Excess of Accumulated Earnings | -669,896 | -657,567 | ||
Accumulated Other Comprehensive Loss | -3,265 | -6,557 | ||
Treasury Shares at Cost (4,324,114 shares) | -140,018 | -140,018 | ||
Total First Industrial Realty Trust, Inc.’s Stockholders’ Equity | 1,126,850 | 1,103,379 | ||
Noncontrolling Interest | 44,369 | 42,274 | ||
Total Equity | 1,171,219 | 1,145,653 | ||
Total Liabilities and Equity | $2,597,510 | $2,608,842 | ||
[1] | * The maturity date may be extended an additional year at our election, subject to certain restrictions. |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Real Estate and Other Assets Held for Sale, Accumulated Depreciation and Amortization | $0 | $3,050 |
Common Stock, Par Value | $0.01 | $0.01 |
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 |
Common Stock, Shares Issued | 114,304,964 | 103,092,027 |
Common Stock, Shares Outstanding | 109,980,850 | 98,767,913 |
Treasury Shares at Cost | 4,324,114 | 4,324,114 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues: | ' | ' | ' |
Rental Income | $252,822 | $244,798 | $234,007 |
Tenant Recoveries and Other Income | 75,404 | 69,527 | 68,661 |
Total Revenues | 328,226 | 314,325 | 302,668 |
Expenses: | ' | ' | ' |
Property Expenses | 107,390 | 99,907 | 101,281 |
General and Administrative | 23,152 | 25,103 | 20,638 |
Restructuring Costs | 0 | 0 | 1,553 |
Impairment of Real Estate | 1,047 | -192 | -8,875 |
Depreciation and Other Amortization | 111,031 | 114,675 | 115,244 |
Total Expenses | 242,620 | 239,493 | 229,841 |
Other Income (Expense): | ' | ' | ' |
Interest Income | 2,354 | 2,874 | 3,922 |
Interest Expense | -73,558 | -83,506 | -100,127 |
Amortization of Deferred Financing Costs | -3,225 | -3,460 | -3,963 |
Mark-to-Market Gain (Loss) on Interest Rate Protection Agreements | 52 | -328 | -1,718 |
Loss from Retirement of Debt | -6,637 | -9,684 | -5,459 |
Foreign Currency Exchange Loss | 0 | 0 | -332 |
Total Other Income (Expense) | -81,014 | -94,104 | -107,677 |
Income (Loss) from Continuing Operations Before Equity in Income of Joint Ventures, Gain on Change in Control of Interests and Income Tax Benefit (Provision) | 4,592 | -19,272 | -34,850 |
Equity in Income of Joint Ventures | 136 | 1,559 | 980 |
Gain on Change in Control of Interests | 0 | 776 | 689 |
Income Tax Benefit (Provision) | 213 | -5,522 | -450 |
Income (Loss) from Continuing Operations | 4,941 | -22,459 | -33,631 |
Discontinued Operations: | ' | ' | ' |
Income Attributable to Discontinued Operations | 1,253 | 3,498 | 4,350 |
Gain on Sale of Real Estate | 34,344 | 12,665 | 20,419 |
Provision for Income Taxes Allocable to Discontinued Operations | 0 | 0 | -1,246 |
Income from Discontinued Operations | 35,597 | 16,163 | 23,523 |
Income (Loss) Before Gain on Sale of Real Estate | 40,538 | -6,296 | -10,108 |
Gain on Sale of Real Estate | 1,100 | 3,777 | 1,370 |
Provision for Income Taxes Allocable to Gain on Sale of Real Estate | -210 | 0 | -452 |
Net Income (Loss) | 41,428 | -2,519 | -9,190 |
Less: Net (Income) Loss Attributable to the Noncontrolling Interest | -1,121 | 1,201 | 1,745 |
Net Income (Loss) Attributable to First Industrial Realty Trust, Inc. | 40,307 | -1,318 | -7,445 |
Less: Preferred Dividends | -8,733 | -18,947 | -19,565 |
Less: Redemption of Preferred Stock | -5,667 | -1,804 | 0 |
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities | $25,907 | ($22,069) | ($27,010) |
Basic and Diluted Earnings Per Share: | ' | ' | ' |
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | ($0.08) | ($0.41) | ($0.61) |
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $0.32 | $0.17 | $0.27 |
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $0.24 | ($0.24) | ($0.34) |
Distributions Per Share | $0.34 | $0 | $0 |
Weighted Average Shares Outstanding | 106,995 | 91,468 | 80,616 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Income (Loss) | $41,428 | ($2,519) | ($9,190) |
Amortization of Interest Rate Protection Agreements | 2,411 | 2,271 | 2,166 |
Write-off of Unamortized Settlement Amounts of Interest Rate Protection Agreements | 1,116 | 3,247 | 3,250 |
Reclassification of Foreign Exchange Loss on Substantial Liquidation of Foreign Entities, Net of Income Tax Benefit | 0 | 0 | 179 |
Foreign Currency Translation Adjustment, Net of Income Tax Benefit | -60 | 32 | -1,480 |
Comprehensive Income (Loss) | 44,895 | 3,031 | -5,075 |
Comprehensive (Income) Loss Attributable to Noncontrolling Interest | -1,265 | 913 | 1,494 |
Comprehensive Income (Loss) Attributable to First Industrial Realty Trust, Inc. | $43,630 | $3,944 | ($3,581) |
CONSOLIDATED_STATEMENT_OF_CHAN
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY (USD $) | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Distributions in Excess of Accumulated Earnings | Accumulated Other Comprehensive Loss | Treasury Shares At Cost | Noncontrolling Interest |
Balance at Dec. 31, 2010 | $892,144,000 | $0 | $732,000 | $1,608,014,000 | ($606,511,000) | ($15,339,000) | ($140,018,000) | $45,266,000 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Common Stock, Net of Issuance Costs | 202,332,000 | ' | 174,000 | 202,158,000 | ' | ' | ' | ' |
Stock Based Compensation Activity | 2,759,000 | ' | 4,000 | 3,088,000 | -333,000 | ' | ' | ' |
Conversion of Units to Common Stock | 0 | ' | 1,000 | 1,108,000 | ' | ' | ' | -1,109,000 |
Reallocation-Additional Paid in Capital | 0 | ' | ' | -3,019,000 | ' | ' | ' | 3,019,000 |
Preferred Dividends | -19,565,000 | ' | ' | ' | -19,565,000 | ' | ' | ' |
Net Income (Loss) | -9,190,000 | ' | ' | ' | -7,445,000 | ' | ' | -1,745,000 |
Reallocation-Other Comprehensive Income | 0 | ' | ' | ' | ' | -237,000 | ' | 237,000 |
Other Comprehensive Income | 4,115,000 | ' | ' | ' | ' | 3,864,000 | ' | 251,000 |
Balance at Dec. 31, 2011 | 1,072,595,000 | 0 | 911,000 | 1,811,349,000 | -633,854,000 | -11,712,000 | -140,018,000 | 45,919,000 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Common Stock, Net of Issuance Costs | 134,436,000 | ' | 109,000 | 134,327,000 | ' | ' | ' | ' |
Redemption of Preferred Stock | -50,044,000 | ' | ' | -48,240,000 | -1,804,000 | ' | ' | ' |
Stock Based Compensation Activity | 4,582,000 | ' | 6,000 | 6,220,000 | -1,644,000 | ' | ' | ' |
Conversion of Units to Common Stock | 0 | ' | 5,000 | 4,758,000 | ' | ' | ' | -4,763,000 |
Reallocation-Additional Paid in Capital | 0 | ' | ' | -1,924,000 | ' | ' | ' | 1,924,000 |
Preferred Dividends | -18,947,000 | ' | ' | ' | -18,947,000 | ' | ' | ' |
Net Income (Loss) | -2,519,000 | ' | ' | ' | -1,318,000 | ' | ' | -1,201,000 |
Reallocation-Other Comprehensive Income | 0 | ' | ' | ' | ' | -107,000 | ' | 107,000 |
Other Comprehensive Income | 5,550,000 | ' | ' | ' | ' | 5,262,000 | ' | 288,000 |
Balance at Dec. 31, 2012 | 1,145,653,000 | 0 | 1,031,000 | 1,906,490,000 | -657,567,000 | -6,557,000 | -140,018,000 | 42,274,000 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Common Stock, Net of Issuance Costs | 173,785,000 | ' | 107,000 | 173,678,000 | ' | ' | ' | ' |
Redemption of Preferred Stock | -150,051,000 | ' | ' | -144,384,000 | -5,667,000 | ' | ' | ' |
Stock Based Compensation Activity | 4,532,000 | ' | 4,000 | 5,476,000 | -948,000 | ' | ' | ' |
Conversion of Units to Common Stock | 0 | ' | 1,000 | 995,000 | ' | ' | ' | -996,000 |
Reallocation-Additional Paid in Capital | 0 | ' | ' | -3,369,000 | ' | ' | ' | 3,369,000 |
Common Stock and Unit Distributions | -38,862,000 | ' | ' | ' | -37,288,000 | ' | ' | -1,574,000 |
Preferred Dividends | -8,733,000 | ' | ' | ' | -8,733,000 | ' | ' | ' |
Net Income (Loss) | 41,428,000 | ' | ' | ' | 40,307,000 | ' | ' | 1,121,000 |
Reallocation-Other Comprehensive Income | 0 | ' | ' | ' | ' | -31,000 | ' | 31,000 |
Other Comprehensive Income | 3,467,000 | ' | ' | ' | ' | 3,323,000 | ' | 144,000 |
Balance at Dec. 31, 2013 | $1,171,219,000 | $0 | $1,143,000 | $1,938,886,000 | ($669,896,000) | ($3,265,000) | ($140,018,000) | $44,369,000 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net Income (Loss) | $41,428 | ($2,519) | ($9,190) |
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities: | ' | ' | ' |
Depreciation | 94,271 | 100,074 | 95,931 |
Amortization of Deferred Financing Costs | 3,225 | 3,460 | 3,963 |
Other Amortization | 30,632 | 35,097 | 36,390 |
Impairment of Real Estate | 2,652 | 1,246 | -2,661 |
Provision for Bad Debt | 726 | 542 | 1,110 |
Equity in Income of Joint Ventures | -136 | -1,559 | -980 |
Distributions from Joint Ventures | 177 | 1,580 | 1,033 |
Gain on Sale of Real Estate | -35,444 | -16,442 | -21,789 |
Gain on Change in Control of Interests | 0 | -776 | -689 |
Loss from Retirement of Debt | 6,637 | 9,684 | 5,459 |
Mark-to-Market (Gain) Loss on Interest Rate Protection Agreements | -52 | 328 | 1,718 |
(Increase) Decrease in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net | -3,192 | 3,770 | -2,933 |
Increase in Deferred Rent Receivable | -4,516 | -3,504 | -7,733 |
(Decrease) Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits | -5,679 | 10,791 | -5,684 |
Decrease in Restricted Cash | 0 | 0 | 117 |
Payments of Premiums, Discounts and Prepayment Penalties Associated with Retirement of Debt | -4,978 | -7,065 | -6,528 |
Cash Book Overdraft | 0 | 1,715 | 0 |
Net Cash Provided by Operating Activities | 125,751 | 136,422 | 87,534 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Acquisitions of Real Estate | -73,642 | -55,508 | -5,277 |
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs | -114,806 | -83,222 | -85,247 |
Net Proceeds from Sales of Investments in Real Estate | 126,250 | 82,503 | 75,953 |
Contributions to and Investments in Joint Ventures | -38 | -190 | -155 |
Distributions from Joint Ventures | 104 | 90 | 650 |
Repayments of Notes Receivable | 615 | 14,365 | 10,394 |
Decrease (Increase) in Escrows | 204 | -273 | -97 |
Net Cash Used in Investing Activities | -61,313 | -42,235 | -3,779 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Debt and Equity Issuance Costs | -3,575 | -1,545 | -7,162 |
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount | 174,081 | 134,905 | 202,845 |
Repurchase and Retirement of Restricted Stock | -2,968 | -2,690 | -1,001 |
Common Stock and Unit Distributions | -29,025 | 0 | 0 |
Preferred Dividends Paid | -8,733 | -23,258 | -15,254 |
Redemption of Preferred Stock | -150,000 | -50,000 | 0 |
Payments on Interest Rate Swap Agreement | -1,079 | -1,144 | -489 |
Proceeds from Origination of Mortgage Loans Payable | 0 | 100,599 | 255,900 |
Repayments on Mortgage and Other Loans Payable | -85,680 | -39,121 | -71,983 |
Repayments of Senior Unsecured Notes | -29,769 | -166,153 | -234,307 |
Proceeds from Unsecured Credit Facility | 373,000 | 339,000 | 390,500 |
Repayments on Unsecured Credit Facility | -298,000 | -390,000 | -618,553 |
Net Cash Used in Financing Activities | -61,748 | -99,407 | -99,504 |
Net Effect of Exchange Rate Changes on Cash and Cash Equivalents | -51 | 5 | -61 |
Net Increase (Decrease) in Cash and Cash Equivalents | 2,690 | -5,220 | -15,749 |
Cash and Cash Equivalents, Beginning of Year | 4,938 | 10,153 | 25,963 |
Cash and Cash Equivalents, End of Year | $7,577 | $4,938 | $10,153 |
Organization_and_Formation_of_
Organization and Formation of Company | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Organization And Formation Of Company Additional Information [Abstract] | ' |
Organization and Formation of Company | ' |
1. Organization and Formation of Company | |
First Industrial Realty Trust, Inc. (the "Company") was organized in the state of Maryland on August 10, 1993. The Company is a real estate investment trust ("REIT") as defined in the Internal Revenue Code of 1986 (the "Code"). Unless the context otherwise requires, the terms "Company," "we," "us" and "our" refer to First Industrial Realty Trust, Inc., First Industrial, L.P. and their respective controlled subsidiaries. We refer to our operating partnership, First Industrial, L.P., as the "Operating Partnership." | |
We began operations on July 1, 1994. Our operations are conducted primarily through the Operating Partnership, of which we are the sole general partner, and through our taxable REIT subsidiaries. The Company also owns a preferred partnership interest in the Operating Partnership represented by preferred units with an aggregate liquidation priority of $75,000 at December 31, 2013. We also conduct operations through other partnerships (the "Other Real Estate Partnerships") and limited liability companies, the operating data of which, together with that of the Operating Partnership and the taxable REIT subsidiaries, is consolidated with that of the Company as presented herein. First Industrial Realty Trust, Inc. does not have any significant assets or liabilities other than its investment in the Operating Partnership and its 100% ownership interest in the general partner of the Other Real Estate Partnerships. | |
We also own noncontrolling equity interests in, and provide various services to, two joint ventures (the "2003 Net Lease Joint Venture" and the "2007 Europe Joint Venture"; collectively, the "Joint Ventures"). 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. See Note 5 for more information on the Joint Ventures. | |
As of December 31, 2013, we owned 652 industrial properties located in 25 states, containing an aggregate of approximately 63.0 million square feet of gross leasable area ("GLA"). Of the 652 properties owned by the Company on a consolidated basis, none of them are directly owned by First Industrial Realty Trust, Inc. | |
Any references to the number of buildings and square footage in the financial statement footnotes are unaudited. |
Basis_of_Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Basis Of Presentation Additional Information [Abstract] | ' |
Basis of Presentation | ' |
2. Basis of Presentation | |
First Industrial Realty Trust, Inc. is the sole general partner of the Operating Partnership, with an approximate 96.0% and 95.5% ownership interest at December 31, 2013 and 2012, respectively. Noncontrolling interest of approximately 4.0% and 4.5% at December 31, 2013 and 2012, respectively, represents the aggregate partnership interest in the Operating Partnership held by the limited partners thereof. | |
Our consolidated financial statements at December 31, 2013 and 2012 and for each of the years ended December 31, 2013, 2012 and 2011 include the accounts and operating results of the Company and our subsidiaries. Such financial statements present our noncontrolling equity interests in our Joint Ventures under the equity method of accounting. All intercompany transactions have been eliminated in consolidation. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Summary of Significant Accounting Policies | ' | |||||||
3. Summary of Significant Accounting Policies | ||||||||
In order to conform with generally accepted accounting principles, we are required in preparation of our financial statements to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of December 31, 2013 and 2012, and the reported amounts of revenues and expenses for each of the years ended December 31, 2013, 2012 and 2011. Actual results could differ from those estimates. | ||||||||
Reclassifications and Other Presentation Matters | ||||||||
Certain reclassifications have been made to the 2012 Consolidated Balance Sheet to conform to the 2013 presentation. The results of operations for the years ended December 31, 2013 and 2012 includes adjustments to depreciation and amortization expense of $(1,640) and $1,528, respectively, which should have been recorded during previous periods. Management evaluated the impact of the adjustments and does not believe they are material to the results of the current year or any previous period. | ||||||||
Cash and Cash Equivalents | ||||||||
Cash and cash equivalents include all cash and liquid investments with an initial maturity of three months or less. The carrying amount approximates fair value due to the short term maturity of these investments. | ||||||||
Investment in Real Estate and Depreciation | ||||||||
Investment in real estate is carried at cost, less accumulated depreciation and amortization. We review our properties on a quarterly basis for impairment and provide a provision if impairments exist. To determine if an impairment may exist, we review our properties and identify those that have had either an event of change or event of circumstances warranting further assessment of recoverability (such as a decrease in occupancy or decline in general market conditions). If further assessment of recoverability is needed, we estimate the future net cash flows expected to result from the use of the property and its eventual disposition on an individual property basis. If the sum of the expected future net cash flows (undiscounted and without interest charges) is less than the carrying amount of the property on an individual property basis, we will recognize an impairment loss based upon the estimated fair value of such property. For properties we consider held for sale, we cease depreciating the properties and value the properties at the lower of depreciated cost or fair value, less costs to dispose. If circumstances arise that were previously considered unlikely, and, as a result, we decide not to sell a property previously classified as held for sale, we will reclassify such property as held and used. Such property is measured at the lower of its carrying amount (adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used) or fair value at the date of the subsequent decision not to sell. We classify properties as held for sale when all criteria within the Financial Accounting Standards Board’s (the "FASB") guidance on the impairment or disposal of long-lived assets are met. | ||||||||
Interest costs, real estate taxes, compensation costs of development personnel and other directly related costs incurred during construction periods are capitalized and depreciated commencing with the date the property is substantially completed. Upon substantial completion, we reclassify construction in progress to building, tenant improvements and leasing commissions. Such costs begin to be capitalized to the development projects from the point we are undergoing necessary activities to get the development ready for its intended use and ceases when the development projects are substantially completed and held available for occupancy. | ||||||||
Depreciation expense is computed using the straight-line method based on the following useful lives: | ||||||||
Years | ||||||||
Buildings and Improvements | 7 to 50 | |||||||
Land Improvements | 3 to 20 | |||||||
Furniture, Fixtures and Equipment | 4 to 10 | |||||||
Tenant Improvements | Shorter of Lease Term or Useful Life | |||||||
Construction expenditures for tenant improvements, leasehold improvements and leasing commissions (inclusive of compensation costs of personnel attributable to leasing) are capitalized and amortized over the terms of each specific lease. Capitalized compensation costs of personnel attributable to leasing relate to time directly attributable to originating leases with independent third parties that result directly from and are essential to originating those leases and would not have been incurred had these leasing transactions not occurred. Repairs and maintenance are charged to expense when incurred. Expenditures for improvements are capitalized. | ||||||||
Upon acquisition of a property, we allocate the purchase price of the property based upon the fair value of the assets acquired and liabilities assumed, which generally consists of land, buildings, tenant improvements, leasing commissions and intangible assets including in-place leases, above market and below market leases and tenant relationships. We allocate the purchase price to the fair value of the tangible assets of an acquired property by valuing the property as if it were vacant. Acquired above and below market leases are valued based on the present value of the difference between prevailing market rates and the in-place rates measured over a period equal to the remaining term of the lease for above market leases and the initial term plus the term of any below market fixed rate renewal options for below market leases. The above market lease values are amortized as a reduction of rental revenue over the remaining term of the respective leases, and the below market lease values are amortized as an increase to base rental revenue over the remaining initial terms plus the terms of any below market fixed rate renewal options of the respective leases. | ||||||||
The purchase price is further allocated to in-place lease values and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with the respective tenant. The value of in-place lease intangibles and tenant relationships, which are included as components of deferred leasing intangibles, net are amortized over the remaining lease term (and expected renewal periods of the respective lease for tenant relationships) as adjustments to depreciation and other amortization expense. If a tenant terminates its lease early, the unamortized portion of the tenant improvements, leasing commissions, above and below market leases, the in-place lease value and tenant relationships is immediately written off. | ||||||||
Deferred leasing intangibles, net of accumulated amortization, included in our total assets and total liabilities consist of the following: | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
In-Place Leases | $ | 15,676 | $ | 17,200 | ||||
Above Market Leases | 3,994 | 4,888 | ||||||
Tenant Relationships | 10,120 | 11,102 | ||||||
Total Included in Total Assets, Net of $30,017 and $36,327 of Accumulated Amortization | $ | 29,790 | $ | 33,190 | ||||
Below Market Leases | $ | 13,626 | $ | 15,522 | ||||
Total Included in Total Liabilities, Net of $8,240 and $9,389 of Accumulated Amortization | $ | 13,626 | $ | 15,522 | ||||
Amortization expense related to in-place leases and tenant relationships, exclusive of amortization expense related to in-place leases and tenant relationships included in discontinued operations, was $6,153, $7,024 and $10,550 for the years ended December 31, 2013, 2012 and 2011, respectively. Rental revenues increased by $572, $797 and $1,456 related to net amortization of above/(below) market leases, exclusive of net amortization related to above/(below) market leases included in discontinued operations, for the years ended December 31, 2013, 2012 and 2011, respectively. We will recognize net amortization related to deferred leasing intangibles over the next five years, for properties owned as of December 31, 2013 as follows: | ||||||||
Estimated | Estimated Net | |||||||
Amortization | Increase to | |||||||
of In-Place | Rental Revenues | |||||||
Leases and Tenant | Related to | |||||||
Relationships | Above and Below | |||||||
Market Leases | ||||||||
2014 | $ | 4,972 | $ | 438 | ||||
2015 | $ | 4,329 | $ | 425 | ||||
2016 | $ | 3,270 | $ | 938 | ||||
2017 | $ | 2,976 | $ | 878 | ||||
2018 | $ | 2,076 | $ | 806 | ||||
Foreign Currency Transactions and Translation | ||||||||
At December 31, 2013, we owned a land parcel located in Toronto, Canada for which the functional currency was determined to be the Canadian dollar. The assets and liabilities related to this land parcel are translated to U.S. dollars from the Canadian dollar based on the current exchange rate prevailing at each balance sheet date. The income statement accounts related to this land parcel are translated using the average exchange rate for the period. The resulting translation adjustments are included in accumulated other comprehensive income. | ||||||||
Deferred Financing Costs | ||||||||
Deferred financing costs include fees and costs incurred to obtain long-term financing. These fees and costs are being amortized over the terms of the respective loans. Accumulated amortization of deferred financing costs was $17,122 and $15,063 at December 31, 2013 and 2012, respectively. Unamortized deferred financing costs are written-off when debt is retired before the maturity date. | ||||||||
Investments in Joint Ventures | ||||||||
Investments in joint ventures represent our noncontrolling equity interests in our Joint Ventures. We account for our investments in joint ventures under the equity method of accounting, as we do not have a majority voting interest, operational control or financial control. Control is determined using accounting standards related to the consolidation of joint ventures and variable interest entities. In order to assess whether consolidation of a variable interest entity is required, an enterprise is required to qualitatively assess the determination of the primary beneficiary of a variable interest entity ("VIE") based on whether the entity (1) has the power to direct matters that most significantly impact the activities of the VIE and (2) has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Additionally, they require an ongoing reconsideration of the primary beneficiary and provide a framework for the events that trigger a reassessment of whether an entity is a VIE. | ||||||||
Under the equity method of accounting, our share of earnings or losses of our Joint Ventures is reflected in income as earned and contributions or distributions increase or decrease our investments in joint ventures as paid or received, respectively. Differences between our carrying value of our investments in joint ventures and our underlying equity of such Joint Ventures are amortized over the respective lives of the underlying assets. | ||||||||
On a continuous basis, we assess whether there are any indicators that the value of our investments in joint ventures may be impaired. An investment is impaired if our estimate of the fair value of the investment is less than the carrying value of the investment, and such decline in fair value is deemed to be other than temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the fair value of the investment. Our estimates of fair value for each investment are based on a number of subjective assumptions that are subject to economic and market uncertainties including, among others, demand for space, market rental rates and operating costs, the discount rate used to value the cash flows of the properties, the capitalization rate used to estimate the terminal value of the underlying properties and the discount rate used to value the Joint Ventures’ debt. As these factors are difficult to predict and are subject to future events that may alter our assumptions, our fair values estimated in the impairment analyses may not be realized. | ||||||||
Stock Based Compensation | ||||||||
We measure compensation cost for all stock-based awards at fair value on the date of grant and recognize compensation expense over the service period for awards expected to vest. | ||||||||
Net income, net of preferred dividends and redemption of preferred stock, is allocated to common stockholders and participating securities based upon their proportionate share of weighted average shares plus weighted average participating securities. Participating securities are unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents. Restricted stock awards granted to employees and directors are considered participating securities as they receive non-forfeitable dividend or dividend equivalents at the same rate as common stock. See Note 10 for further disclosure about participating securities. | ||||||||
Revenue Recognition | ||||||||
Rental income is recognized on a straight-line method under which contractual rent increases are recognized evenly over the lease term. Tenant recovery income includes payments from tenants for real estate taxes, insurance and other property operating expenses and is recognized as revenue in the same period the related expenses are incurred by us. | ||||||||
Revenue is generally recognized on payments received from tenants for early lease terminations upon the effective termination of a tenant’s lease and when we have no further obligations under the lease. | ||||||||
Interest income on notes receivable is recognized based on the accrual method unless a significant uncertainty of collection exists. If a significant uncertainty exists, interest income is recognized as collected. | ||||||||
We provide an allowance for doubtful accounts against the portion of tenant accounts receivable including deferred rent receivable, which is estimated to be uncollectible. Accounts receivable in the consolidated balance sheets are shown net of an allowance for doubtful accounts of $1,362 and $1,875 as of December 31, 2013 and 2012, respectively. Deferred rent receivable in the consolidated balance sheets is shown net of an allowance for doubtful accounts of $1,694 and $1,733 as of December 31, 2013 and 2012, respectively. For accounts receivable we deem uncollectible, we use the direct write-off method. | ||||||||
Gain on Sale of Real Estate | ||||||||
Gain on sale of real estate is recognized using the full accrual method, when appropriate. Gains relating to transactions which do not meet the full accrual method of accounting are deferred and recognized when the full accrual method of accounting criteria are met or by using the installment or deposit methods of profit recognition, as appropriate in the circumstances. As the assets are sold, their costs and related accumulated depreciation are written off with resulting gains or losses reflected in net income or loss. Estimated future costs to be incurred by us after completion of each sale are included in the determination of the gain on sales. | ||||||||
Notes Receivable | ||||||||
Notes receivable are primarily comprised of mortgage notes receivable that we have made in connection with sales of real estate assets. The notes receivable are recorded at fair value at the time of issuance. Discounts on notes receivable are accreted over the life of the related note receivable. Interest income is accrued as earned. Notes receivable are considered past due when a contractual payment is not remitted in accordance with the terms of the note agreement. On a quarterly basis, we evaluate the collectability of each mortgage note receivable on an individual basis based on various factors which may include payment history, expected fair value of the collateral and internal and external credit information. A loan is considered impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due under the existing contractual terms. When a loan is considered impaired, the amount of the loss accrual is calculated by comparing the carrying amount of the note receivable to the present value of expected future cash flows. Since the majority of our notes receivable are collateralized by a first mortgage, the loans have risk characteristics similar to the risks in owning commercial real estate. | ||||||||
Income Taxes | ||||||||
We have elected to be taxed as a REIT under the Code. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of our adjusted taxable income to our stockholders. Management intends to continue to adhere to these requirements and to maintain our REIT status. As a REIT, we are entitled to a tax deduction for some or all of the dividends we pay to shareholders. Accordingly, we generally will not be subject to federal income taxes as long as we currently distribute to shareholders an amount equal to or in excess of our taxable income. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years. | ||||||||
REIT qualification reduces, but does not eliminate, the amount of state and local taxes we pay. In addition, our financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal, state and local income taxes. As a REIT, we may also be subject to certain federal excise and franchise taxes if we engage in certain types of transactions. A benefit/provision has been made for federal, state and local income taxes in the accompanying consolidated financial statements. In accordance with FASB’s guidance, the total benefit/provision has been separately allocated to income (loss) from continuing operations, income (loss) from discontinued operations and gain (loss) on sale of real estate. The provision for excise and franchise taxes has been reflected in general and administrative expense in the consolidated statements of operations and has not been separately stated due to its insignificance. | ||||||||
During 2005, we recorded a $745 franchise tax reserve related to a potential state franchise tax assessment for the 1996-2001 tax years. During the year ended December 31, 2011, we received a refund from the state, representing amounts paid during 2006 related to the 1996-2001 tax years. Based on the refund received and discussions with the taxing authorities, as of December 31, 2011, management believes that it is unlikely that any franchise tax amounts will be assessed by the state for such tax years. As such, during the year ended December 31, 2011, we reversed $745 of franchise taxes. Franchise taxes are recorded within general and administrative expense. | ||||||||
Earnings Per Share ("EPS") | ||||||||
Basic net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the sum of the weighted average number of common shares outstanding and any dilutive non-participating securities for the period. See Note 10 for further disclosure about EPS. | ||||||||
Derivative Financial Instruments | ||||||||
Historically, we have used interest rate protection agreements ("Agreements") to fix the interest rate on anticipated offerings of senior unsecured notes or convert floating rate debt and preferred stock to fixed rate. Receipts or payments that result from the settlement of Agreements used to fix the interest rate on anticipated offerings of senior unsecured notes are amortized over the life of the derivative or the life of the debt and included in interest expense. Receipts or payments resulting from Agreements used to convert floating rate debt to fixed rate debt are recognized as a component of interest expense. Agreements which qualify for hedge accounting are marked-to-market and any gain or loss that is effective is recognized in other comprehensive income (shareholders’ equity). Agreements which do not qualify for hedge accounting are marked-to-market and any gain or loss is recognized in net income (loss) immediately. Amounts accumulated in other comprehensive income during the hedge period are reclassified to earnings in the same period during which the forecasted transaction or hedged item affects net income (loss). The credit risks associated with Agreements are controlled through the evaluation and monitoring of the creditworthiness of the counterparty. In the event that the counterparty fails to meet the terms of Agreements, our exposure is limited to the current value of the interest rate differential, not the notional amount, and our carrying value of Agreements on the balance sheet. See Note 15 for more information on the Agreements. | ||||||||
Fair Value of Financial Instruments | ||||||||
Financial instruments other than our derivatives include tenant accounts receivable, notes receivable, accounts payable, other accrued expenses, mortgage loans payable, unsecured credit facility and senior unsecured notes. The fair values of the tenant accounts receivable, accounts payable and other accrued expenses approximate their carrying or contract values. See Note 6 for the fair values of the mortgage loans payable, unsecured credit facility and senior unsecured notes and see Note 4 for the fair value of our notes receivable. | ||||||||
Discontinued Operations | ||||||||
The FASB’s guidance on financial reporting for the disposal of long lived assets requires that the results of operations and gains or losses on the sale of property or property held for sale be presented in discontinued operations if both of the following criteria are met: (a) the operations and cash flows of the property have been (or will be) eliminated from the ongoing operations of the Company as a result of the disposal transaction and (b) we will not have any significant continuing involvement in the operations of the property after the disposal transaction. The guidance also requires prior period results of operations for these properties to be reclassified and presented in discontinued operations in prior consolidated statements of operations. | ||||||||
Segment Reporting | ||||||||
Management views the Company as a single segment based on its method of internal reporting. | ||||||||
Recent Accounting Pronouncements | ||||||||
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income" ("ASU 2013-02"). ASU 2013-02 requires that public companies present, either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. ASU 2013-02 is effective for annual periods beginning after December 15, 2012, and is to be applied prospectively. The adoption of this guidance did not have a material impact on our consolidated financial statements. |
Investment_in_Real_Estate
Investment in Real Estate | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Real Estate Investment Property, Net [Abstract] | ' | |||||||||||
Investment in Real Estate | ' | |||||||||||
4. Investment in Real Estate | ||||||||||||
Acquisitions | ||||||||||||
In 2011, we acquired one industrial property comprising approximately 0.7 million square feet of GLA through the purchase of the 85% equity interest in one property from the institutional investor in the 2003 Net Lease Joint Venture (see Note 5). The gross agreed-upon fair value for the industrial property was $30,625, excluding costs incurred in conjunction with the acquisition of the industrial property. The acquisition was funded through the assumption of a mortgage loan, whose carrying value approximated fair market value, in the amount of $24,417 and a cash payment of $5,277 (85% of the net fair value of the acquisition). We accounted for this transaction as a step acquisition utilizing the purchase method of accounting. Due to the change in control that occurred, we recorded a gain during the year ended December 31, 2011 of $689 related to the difference between our carrying value and fair value of our equity interest on the acquisition date. | ||||||||||||
In 2012, we acquired one industrial property comprising approximately 0.4 million square feet of GLA through the purchase of the 85% equity interest in one property from the institutional investor in the 2003 Net Lease Joint Venture (see Note 5) and several land parcels. The gross agreed-upon fair value for the industrial property was $21,819, excluding costs incurred in conjunction with the acquisition of the industrial property. The acquisition was funded through the assumption of a mortgage loan, which was subsequently paid off on the date of acquisition and whose carrying value approximated fair market value, in the amount of $12,026 and a cash payment of $8,324 (85% of the net fair value of the acquisition). We accounted for this transaction as a step acquisition utilizing the purchase method of accounting. Due to the change in control that occurred, we recorded a gain during the year ended December 31, 2012 of $776 related to the difference between our carrying value and fair value of our equity interest on the acquisition date. The purchase price of the land parcels was approximately $46,695, excluding costs incurred in conjunction with the acquisition of the land parcels. | ||||||||||||
In 2013, we acquired two industrial properties, one of which we acquired through the acquisition of 100% of the equity interest in the limited liability company that owned the industrial property, comprising approximately 1.1 million square feet of GLA and several land parcels. One of the two industrial properties was vacant upon acquisition. The purchase price of these acquisitions totaled approximately $72,812, excluding costs incurred in conjunction with the acquisition of the industrial properties and land parcels. | ||||||||||||
We value third party acquisitions and acquisitions of unconsolidated joint venture partner interests in industrial properties on a similar basis, generally by applying an income capitalization approach. The fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements, as discussed below. The fair value estimates for each industrial property acquired from our joint venture partner during the years ended December 31, 2012 and 2011 were based on a weighted average capitalization rate approximating 7.3% and 8.4%, respectively. The fair value measurements also include consideration of the fair market value of debt. | ||||||||||||
Intangible Assets (Liabilities) Subject To Amortization in the Period of Acquisition | ||||||||||||
The fair value at the date of acquisition of in-place leases, tenant relationships and below market leases recorded due to the real estate properties acquired for the years ended December 31, 2013 and 2012, which are recorded as deferred leasing intangibles, are as follows: | ||||||||||||
Year Ended | Year Ended | |||||||||||
December 31, | December 31, | |||||||||||
2013 | 2012 | |||||||||||
In-Place Leases | $ | 2,807 | $ | 1,750 | ||||||||
Tenant Relationships | $ | 1,914 | $ | 1,012 | ||||||||
Below Market Leases | $ | (188 | ) | $ | (102 | ) | ||||||
The weighted average life in months of in-place leases, tenant relationships and below market leases recorded at the time of acquisition as a result of the real estate properties acquired for the years ended December 31, 2013 and 2012 is as follows: | ||||||||||||
Year Ended | Year Ended | |||||||||||
December 31, | December 31, | |||||||||||
2013 | 2012 | |||||||||||
In-Place Leases | 52 | 118 | ||||||||||
Tenant Relationships | 112 | 178 | ||||||||||
Below Market Leases | 52 | 118 | ||||||||||
Sales and Discontinued Operations | ||||||||||||
In 2011, we sold 36 industrial properties comprising approximately 2.9 million square feet of GLA and one land parcel. Gross proceeds from the sales of the industrial properties and one land parcel were approximately $86,643. Included in the 36 industrial properties sold is one industrial property totaling approximately 0.4 million square feet of GLA that we transferred title to a lender in satisfaction of a non-recourse mortgage loan. The gain on sale of real estate was approximately $21,789, of which $20,419 is shown in discontinued operations. The 36 sold industrial properties meet the criteria to be included in discontinued operations. Therefore the results of operations and gain on sale of real estate for the 36 sold industrial properties are included in discontinued operations. The results of operations and gain on sale of real estate for the one land parcel, which does not meet the criteria to be included in discontinued operations, is included in continuing operations. | ||||||||||||
In 2012, we sold 28 industrial properties comprising approximately 4.2 million square feet of GLA and one land parcel. Gross proceeds from the sales of the industrial properties and one land parcel were approximately $85,561. The gain on sale of real estate was approximately $16,442, of which $12,665 is shown in discontinued operations. The 28 sold industrial properties meet the criteria to be included in discontinued operations. Therefore the results of operations and gain on sale of real estate for the 28 industrial properties sold are included in discontinued operations. The results of operations and gain on sale of real estate for the one land parcel, which does not meet the criteria to be included in discontinued operations, is included in continuing operations. | ||||||||||||
In 2013, we sold 67 industrial properties comprising approximately 3.0 million square feet of GLA and several land parcels. Gross proceeds from the sales of the industrial properties and land parcels were approximately $144,628. The gain on sale of real estate was approximately $35,444, of which $34,344 is shown in discounted operations. The 67 sold industrial properties meet the criteria to be included in discontinued operations. Therefore the results of operations and gain on sale of real estate for the 67 industrial properties sold are included in discontinued operations. The results of operations and gain on sale of real estate for the several land parcels, which do not meet the criteria to be included in discontinued operations, are included in continuing operations. | ||||||||||||
The following table discloses certain information regarding the industrial properties included in our discontinued operations for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Total Revenues | $ | 10,955 | $ | 21,649 | $ | 32,079 | ||||||
Property Expenses | (4,450 | ) | (8,879 | ) | (12,947 | ) | ||||||
Impairment of Real Estate | (1,605 | ) | (1,438 | ) | (6,214 | ) | ||||||
Depreciation and Amortization | (3,647 | ) | (7,834 | ) | (8,505 | ) | ||||||
Interest Expense | — | — | (63 | ) | ||||||||
Gain on Sale of Real Estate | 34,344 | 12,665 | 20,419 | |||||||||
Provision for Income Taxes | — | — | (1,246 | ) | ||||||||
Income from Discontinued Operations | $ | 35,597 | $ | 16,163 | $ | 23,523 | ||||||
At December 31, 2013 and 2012, we had notes receivable and accrued interest outstanding, issued in connection with sales of industrial properties, of approximately $52,605 and $40,771, net of a discount of $191 and $255, respectively, which are included as a component of prepaid expenses and other assets, net. At December 31, 2013 and 2012, the fair value of the notes receivable, including accrued interest, was $53,482 and $44,352, respectively. The fair value of our notes receivable was determined by discounting the future cash flows using the current rates at which similar loans with similar remaining maturities would be made to other borrowers. The current market rates we utilized were internally estimated; therefore, we have concluded that our determination of fair value of our notes receivable was primarily based upon Level 3 inputs, as discussed below. | ||||||||||||
Impairment Charges | ||||||||||||
During the years ended December 31, 2013, 2012 and 2011, we recorded the following net non-cash impairment charges (reversals): | ||||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
Sold Operating Properties | $ | 1,605 | $ | 1,438 | $ | 6,214 | ||||||
Impairment—Discontinued Operations | $ | 1,605 | $ | 1,438 | $ | 6,214 | ||||||
Sold Land Parcels | $ | — | $ | — | $ | (5,918 | ) | |||||
Operating Properties Not Held for Sale | 1,047 | (192 | ) | (1,755 | ) | |||||||
Land Parcels | — | — | (1,202 | ) | ||||||||
Impairment—Continuing Operations | $ | 1,047 | $ | (192 | ) | $ | (8,875 | ) | ||||
Total Net Impairment | $ | 2,652 | $ | 1,246 | $ | (2,661 | ) | |||||
The net impairment charges for assets that qualify to be classified as held for sale are calculated as the difference between the carrying value of the properties and land parcels and the estimated fair value, less costs to sell. The impairment charges for assets not held for sale are calculated as the difference between the carrying value of the properties and land parcels and the estimated fair value. The net impairment charges recorded during the years ended December 31, 2013, 2012 and 2011 are due to marketing certain properties and land parcels for sale and our assessment of the likelihood and timing of a potential sale transaction. Catch-up depreciation and amortization has been recorded during the years ended December 31, 2012 and 2011, if applicable, for certain assets that are no longer classified as held for sale. | ||||||||||||
The accounting guidance for the fair value measurement provisions for the impairment of long lived assets establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The real estate assets measured at fair value on a non-recurring basis during the years ended December 31, 2013 and 2012 were either sold or are recorded at carrying value at December 31, 2013. | ||||||||||||
The fair market values were determined using widely accepted valuation techniques including discounted cash flow analyses using expected cash flows, internal valuations of real estate and third party offers. For operational real estate assets, the most significant assumptions used in the discounted cash flow analyses included the discount rate, projected occupancy levels, market rental rates, capital expenditures and the terminal capitalization rate. For the valuation of land parcels, we reviewed recent comparable sales transactions, to the extent available, or if not available, we considered older comparable transactions, adjusted upward or downward to reflect management’s assumptions about current market conditions. In all cases, members of our management team that were responsible for the individual markets where the land parcels were located determined the internal valuations. Valuations based on third party offers include bona fide contract prices and letter of intent amounts that we believe are indicative of fair value. |
Investments_in_Joint_Ventures
Investments in Joint Ventures | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||||||
Investments in Joint Ventures | ' | |||||||||||
5. Investments in Joint Ventures | ||||||||||||
On May 16, 2003, we entered into the 2003 Net Lease Joint Venture with an institutional investor to invest in industrial properties. We own a 15% equity interest in and provide property management services to the 2003 Net Lease Joint Venture. At December 31, 2013, the 2003 Net Lease Joint Venture owned four industrial properties comprising approximately 2.5 million square feet of GLA. During January 2014, the 2003 Net Lease Joint Venture sold two properties comprising approximately 1.6 million square feet of GLA. | ||||||||||||
The 2003 Net Lease Joint Venture is considered a variable interest entity in accordance with the FASB guidance on the consolidation of variable interest entities. We continue to conclude that we are not the primary beneficiary of this venture. As of December 31, 2013, our investment in the 2003 Net Lease Joint Venture is $907. Our maximum exposure to loss is equal to our investment. We acquired the 85% equity interest in one property on February 13, 2012 and the 85% equity interest in another property on May 26, 2011, in each case from the institutional investor in the 2003 Net Lease Joint Venture (see Note 4). | ||||||||||||
During December 2007, we entered into the 2007 Europe Joint Venture with an institutional investor to invest in, own, develop, redevelop and operate industrial properties. We continue to hold our 10% equity interest in the 2007 Europe Joint Venture. As of December 31, 2013, the 2007 Europe Joint Venture did not own any properties. | ||||||||||||
During the years ended December 31, 2013, 2012 and 2011, we recognized fees of $231, $516 and $970, respectively, from our Joint Ventures. | ||||||||||||
The combined summarized financial information of the investments in Joint Ventures is as follows: | ||||||||||||
December 31, | December 31, | |||||||||||
2013 | 2012 | |||||||||||
Condensed Combined Balance Sheets: | ||||||||||||
Gross Investment in Real Estate | $ | 28,389 | $ | 115,488 | ||||||||
Less: Accumulated Depreciation | (4,253 | ) | (38,535 | ) | ||||||||
Net Investment in Real Estate | 24,136 | 76,953 | ||||||||||
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $40,387 and $0 | 48,408 | — | ||||||||||
Other Assets | 7,690 | 17,327 | ||||||||||
Total Assets | $ | 80,234 | $ | 94,280 | ||||||||
Indebtedness | $ | 24,656 | $ | 81,764 | ||||||||
Other Liabilities | 1,615 | 4,817 | ||||||||||
Indebtedness, Accrued Interest Expense and Leasing Intangibles Held for Sale, Net of Accumulated Amortization of $3,208 and $0 | 48,651 | — | ||||||||||
Equity | 5,312 | 7,699 | ||||||||||
Total Liabilities and Equity | $ | 80,234 | $ | 94,280 | ||||||||
Company’s Share of Equity | $ | 896 | $ | 1,252 | ||||||||
Basis Differentials(1) | (200 | ) | (448 | ) | ||||||||
Carrying Value of the Company’s Investments in Joint Ventures | $ | 696 | $ | 804 | ||||||||
_______________ | ||||||||||||
-1 | This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level. Basis differentials are primarily comprised of impairments we recorded to reduce certain of our investments in the 2003 Net Lease Joint Venture to fair value and certain deferred fees which are not reflected at the joint venture level. | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Condensed Combined Statements of Operations: | ||||||||||||
Total Revenues | $ | 3,433 | $ | 3,371 | $ | 3,411 | ||||||
Expenses: | ||||||||||||
Property Expenses and Other | 1,070 | 1,096 | 1,226 | |||||||||
Depreciation and Other Amortization | 931 | 764 | 836 | |||||||||
Interest Expense | 1,532 | 1,633 | 1,643 | |||||||||
Total Expenses | 3,533 | 3,493 | 3,705 | |||||||||
Discontinued Operations: | ||||||||||||
Loss Attributable to Discontinued Operations | (1,300 | ) | (1,607 | ) | (1,587 | ) | ||||||
Gain on Sale of Real Estate | 513 | 4,974 | 3,137 | |||||||||
(Loss) Income from Discontinued Operations | (787 | ) | 3,367 | 1,550 | ||||||||
Net (Loss) Income | $ | (887 | ) | $ | 3,245 | $ | 1,256 | |||||
Equity in Income of Joint Ventures | $ | 136 | $ | 1,559 | $ | 980 | ||||||
Indebtedness
Indebtedness | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||||||
Indebtedness | ' | |||||||||||||||||||||||
6. Indebtedness | ||||||||||||||||||||||||
The following table discloses certain information regarding our indebtedness: | ||||||||||||||||||||||||
Outstanding Balance at | Interest | Effective | Maturity | |||||||||||||||||||||
Rate at | Interest | Date | ||||||||||||||||||||||
December 31, | Rate at | |||||||||||||||||||||||
December 31, | December 31, | 2013 | Issuance | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Mortgage Loans Payable, Net | $ | 677,890 | $ | 763,616 | 4.03% – 8.26% | 4.03% – 8.26% | October 2014 – | |||||||||||||||||
Sep-22 | ||||||||||||||||||||||||
Unamortized Premiums | (115 | ) | (161 | ) | ||||||||||||||||||||
Mortgage Loans Payable, Gross | $ | 677,775 | $ | 763,455 | ||||||||||||||||||||
Senior Unsecured Notes, Net | ||||||||||||||||||||||||
2016 Notes | $ | 159,566 | $ | 159,510 | 5.75% | 5.91% | 1/15/16 | |||||||||||||||||
2017 Notes | 54,960 | 55,385 | 7.50% | 7.52% | 12/1/17 | |||||||||||||||||||
2027 Notes | 6,066 | 6,066 | 7.15% | 7.11% | 5/15/27 | |||||||||||||||||||
2028 Notes | 31,883 | 55,261 | 7.60% | 8.13% | 7/15/28 | |||||||||||||||||||
2032 Notes | 10,514 | 11,500 | 7.75% | 7.87% | 4/15/32 | |||||||||||||||||||
2014 Notes | 81,149 | 79,683 | 6.42% | 6.54% | 6/1/14 | |||||||||||||||||||
2017 II Notes | 101,778 | 106,745 | 5.95% | 6.37% | 5/15/17 | |||||||||||||||||||
Subtotal | $ | 445,916 | $ | 474,150 | ||||||||||||||||||||
Unamortized Discounts | 980 | 2,570 | ||||||||||||||||||||||
Senior Unsecured Notes, Gross | $ | 446,896 | $ | 476,720 | ||||||||||||||||||||
Unsecured Credit Facility* | $ | 173,000 | $ | 98,000 | 1.67% | 1.67% | 9/29/17 | |||||||||||||||||
* The maturity date may be extended an additional year at our election, subject to certain restrictions. | ||||||||||||||||||||||||
Mortgage Loans Payable, Net | ||||||||||||||||||||||||
During the year ended December 31, 2012, we originated the following mortgage loans: | ||||||||||||||||||||||||
Mortgage | Loan | Interest | Origination | Maturity | Amortization | Number of | GLA | Properties | ||||||||||||||||
Financing | Principal | Rate | Date | Date | Period | Industrial | (In millions) | Carrying | ||||||||||||||||
Properties | Value at | |||||||||||||||||||||||
Collateralizing | December 31, | |||||||||||||||||||||||
Mortgage | 2012 | |||||||||||||||||||||||
I-VI | $ | 100,599 | 4.03 | % | Aug-12 | Sep-22 | 30-year | 31 | 3.8 | $ | 103,671 | |||||||||||||
For Mortgage Financings I through VI, principal prepayments were prohibited for 12 months after loan origination, after which prepayment premiums are calculated at the greater of yield maintenance or 1% of the outstanding balance. | ||||||||||||||||||||||||
During the years ended December 31, 2013 and 2012, we paid off and retired prior to maturity mortgage loans payable in the amount of $72,261 and $14,112, respectively. In connection with these pay offs prior to maturity, we recognized $1,578 and $361 as loss from retirement of debt for the years ended December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||
As of December 31, 2013, mortgage loans payable are collateralized, and in some instances cross-collateralized, by industrial properties with a net carrying value of $826,754. We believe the Operating Partnership and the Company were in compliance with all covenants relating to mortgage loans payable as of December 31, 2013. | ||||||||||||||||||||||||
Senior Unsecured Notes, Net | ||||||||||||||||||||||||
During the years ended December 31, 2013 and 2012, we repurchased and retired the following senior unsecured notes prior to maturity: | ||||||||||||||||||||||||
Principal Amount Repurchased | Purchase Price | |||||||||||||||||||||||
For the | For the | For the | For the | |||||||||||||||||||||
Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
2014 Notes | $ | — | $ | 9,000 | $ | — | $ | 9,439 | ||||||||||||||||
2017 Notes | 430 | 4,223 | 482 | 4,632 | ||||||||||||||||||||
2017 II Notes | 5,000 | — | 5,300 | — | ||||||||||||||||||||
2028 Notes | 23,394 | 69,680 | 26,547 | 72,541 | ||||||||||||||||||||
2032 Notes | 1,000 | 23,400 | 1,163 | 24,001 | ||||||||||||||||||||
Total | $ | 29,824 | $ | 106,303 | $ | 33,492 | $ | 110,613 | ||||||||||||||||
In connection with these repurchases prior to maturity, we recognized $5,003 and $9,323 as loss from retirement of debt for the years ended December 31, 2013 and 2012, which is the difference between the repurchase price and the principal amount retired, net of the pro rata write-off of the unamortized debt issue discount, the unamortized deferred financing costs, the unamortized settlement amount of the interest rate protection agreements and the professional services fees related to the repurchases of $28, $191, $1,116 and $0 and $598, $728, $3,247 and $440, respectively. | ||||||||||||||||||||||||
On April 16, 2012, we paid off and retired our 2012 Notes, at maturity, in the amount of $61,829. | ||||||||||||||||||||||||
The indentures governing our senior unsecured notes contain certain financial covenants, including limitations on incurrence of debt and debt service coverage. We believe the Operating Partnership and the Company were in compliance with all covenants relating to senior unsecured notes as of December 31, 2013. However, these financial covenants are complex and there can be no assurance that these provisions would not be interpreted by our noteholders in a manner that could impose and cause us to incur material costs. | ||||||||||||||||||||||||
Unsecured Credit Facility | ||||||||||||||||||||||||
On July 19, 2013, we amended and restated our existing $450,000 revolving credit agreement (the "Old Credit Facility"), increasing the borrowing capacity thereunder to $625,000 (as amended and restated, the "Unsecured Credit Facility"). We may request that the borrowing capacity under the Unsecured Credit Facility be increased to $825,000, subject to certain restrictions. The amendment extended the maturity date from December 12, 2014 to September 29, 2017 with an option to extend an additional one year at our election, subject to certain restrictions. At December 31, 2013, the Unsecured Credit Facility provides for interest only payments at LIBOR plus 150 basis points. The interest rate on the Unsecured Credit Facility varies based on our leverage ratio. In the event we achieve an investment grade rating from one of certain rating agencies, the rate may be decreased at our election, based on the investment grade rating. In connection with the amendment of the Old Credit Facility, we wrote off $56 of unamortized deferred financing costs, which is included in loss from retirement of debt for the year ended December 31, 2013. | ||||||||||||||||||||||||
The Unsecured Credit Facility contains certain financial covenants, including limitations on incurrence of debt and debt service coverage. Under the Unsecured Credit Facility, an event of default can also 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 agreement. We believe that we were in compliance with all covenants relating to the Unsecured Credit Facility as of December 31, 2013. However, these financial covenants are complex and there can be no assurance that these provisions would not be interpreted by our lenders in a manner that could impose and cause us to incur material costs. | ||||||||||||||||||||||||
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 ending December 31, and thereafter: | ||||||||||||||||||||||||
Amount | ||||||||||||||||||||||||
2014 | $ | 113,321 | ||||||||||||||||||||||
2015 | 37,762 | |||||||||||||||||||||||
2016 | 272,618 | |||||||||||||||||||||||
2017 | 341,723 | |||||||||||||||||||||||
2018 | 168,341 | |||||||||||||||||||||||
Thereafter | 363,906 | |||||||||||||||||||||||
Total | $ | 1,297,671 | ||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||
At December 31, 2013 and 2012, the fair value of our indebtedness was as follows: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||||||||
Amount | Value | Amount | Value | |||||||||||||||||||||
Mortgage Loans Payable, Net | $ | 677,890 | $ | 684,914 | $ | 763,616 | $ | 814,915 | ||||||||||||||||
Senior Unsecured Debt, Net | 445,916 | 482,781 | 474,150 | 516,943 | ||||||||||||||||||||
Unsecured Credit Facility | 173,000 | 173,000 | 98,000 | 98,192 | ||||||||||||||||||||
Total | $ | 1,296,806 | $ | 1,340,695 | $ | 1,335,766 | $ | 1,430,050 | ||||||||||||||||
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 leverage levels and similar remaining maturities. The current market rates we utilized were internally estimated. The fair value of the senior unsecured debt was determined by using rates, as advised by our bankers in certain cases, that are based upon recent trades within the same series of the senior unsecured debt, recent trades for senior unsecured debt with comparable maturities, recent trades for fixed rate unsecured debt from companies with profiles similar to ours, as well as overall economic conditions. The fair value of the Unsecured Credit Facility 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 our mortgage loans payable, senior unsecured debt and Unsecured Credit Facility was primarily based upon Level 3 inputs. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||
Stockholders' Equity | ' | |||||||||||||
7. Stockholders’ Equity | ||||||||||||||
Preferred Stock | ||||||||||||||
On May 27, 2004, we issued 50,000 Depositary Shares, each representing 1/100th of a share of our 6.236%, Series F Flexible Cumulative Redeemable Preferred Stock, $0.01 par value (the "Series F Preferred Stock"), at an initial offering price of $1,000.00 per Depositary Share. Dividends on the Series F Preferred Stock are cumulative from the date of initial issuance and are payable quarterly in arrears. The coupon rate of our Series F Preferred Stock resets every quarter at 2.375% plus the greater of (i) the 30 year Treasury constant maturity treasury ("CMT") Rate, (ii) the 10 year Treasury CMT Rate or (iii) 3-month LIBOR. For the fourth quarter of 2013, the coupon rate was 6.065%. With respect to the payment of dividends and amounts upon liquidation, dissolution or winding up, the Series F Preferred Stock ranks senior to payments on our Common Stock and pari passu with our Series G Preferred Stock (hereinafter defined). The Series F Preferred Stock is redeemable for cash at our option, in whole or in part, at a redemption price of $1,000.00 per Depositary Share, or $50,000 in the aggregate, plus dividends accrued and unpaid to the redemption date. The Series F Preferred Stock has no stated maturity and is not convertible into any other securities of the Company. In October 2008, we entered into an interest rate swap agreement to mitigate our exposure to floating interest rates related to the forecasted reset rate of the coupon rate of our Series F Preferred Stock, which matured on October 1, 2013 (see Note 15). On February 3, 2014, we called for the redemption of the Series F Preferred Stock (see Note 17). | ||||||||||||||
On May 27, 2004, we issued 25,000 Depositary Shares, each representing 1/100th of a share of our 7.236%, Series G Flexible Cumulative Redeemable Preferred Stock, $0.01 par value (the "Series G Preferred Stock"), at an initial offering price of $1,000.00 per Depositary Share. Dividends on the Series G Preferred Stock are cumulative from the date of initial issuance and are payable semi-annually in arrears for the period from the date of original issuance of the Series G Preferred Stock through March 31, 2014 (the "Series G Initial Fixed Rate Period"), commencing on September 30, 2004, at a rate of 7.236% per annum of the liquidation preference (the "Series G Initial Distribution Rate") (equivalent to $72.36 per Depositary Share). On or after March 31, 2014, the Series G Initial Distribution Rate is subject to reset, at our option, subject to certain conditions and parameters, at fixed or floating rates and periods. Fixed rates and periods will be determined through a remarketing procedure. Floating rates during floating rate periods will equal 2.500% (the initial credit spread), plus the greater of (i) the 3-month LIBOR, (ii) the 10 year Treasury CMT Rate, and (iii) the 30 year Treasury CMT Rate, reseting quarterly. Dividends on the Series G Preferred Stock are payable quarterly in arrears for floating rate periods. With respect to the payment of dividends and amounts upon liquidation, dissolution or winding up, the Series G Preferred Stock ranks senior to payments on our Common Stock and pari passu with our Series F Preferred Stock. On or after March 31, 2014, the Series G Preferred Stock is redeemable for cash at our option, in whole or in part, at a redemption price of $1,000.00 per Depositary Share, or $25,000 in the aggregate, plus dividends accrued and unpaid to the redemption date. The Series G Preferred Stock has no stated maturity and is not convertible into any other securities of the Company. On February 3, 2014, we called for the redemption of the Series G Preferred Stock (see Note 17). | ||||||||||||||
On January 13, 2006, we issued 6,000,000 Depositary Shares, each representing 1/10,000th of a share of our 7.25%, Series J Cumulative Redeemable Preferred Stock, $0.01 par value (the "Series J Preferred Stock"), at an initial offering price of $25.00 per Depositary Share. The Series J Preferred Stock is redeemable for cash at our option, in whole or in part, at a redemption price equivalent to $25.00 per Depositary Share, or $150,000 in the aggregate, plus dividends accrued and unpaid to the redemption date. On December 21, 2012, we redeemed 2,000,000 Depositary Shares of the Series J Preferred Stock at a redemption price of $25.00 per Depositary Share, and paid a pro-rated fourth quarter dividend of $0.407812 per Depositary Share, totaling $816. One-third of the initial offering costs associated with the issuance of the Series J Preferred Stock, as well as costs associated with the partial redemption, totaled $1,804 and are reflected as a deduction from net loss in determining earnings per share for the year ended December 31, 2012. The remaining 4,000,000 Depositary Shares of the Series J Preferred Stock were redeemed on April 11, 2013, at a redemption price of $25.00 per Depositary Share, and paid a pro-rated second quarter dividend of $0.055382 per Depositary Share, totaling $221. The remaining initial offering costs associated with the issuance of the Series J Preferred Stock, as well as costs associated with the redemption, totaled $3,546 and are reflected as a deduction from net income in determining earnings per share for the year ended December 31, 2013. | ||||||||||||||
On August 21, 2006, we issued 2,000,000 Depositary Shares, each representing 1/10,000th of a share of our 7.25%, Series K Flexible Cumulative Redeemable Preferred Stock, $0.01 par value (the "Series K Preferred Stock"), at an initial offering price of $25.00 per Depositary Share. The Series K Preferred Stock is redeemable for cash at our option, in whole or in part, at a redemption price equivalent to $25.00 per Depositary Share, or $50,000 in the aggregate, plus dividends accrued and unpaid to the redemption date. On July 18, 2013, we fully redeemed the Series K Preferred Stock at a redemption price of $25.00 per Depositary Share, and paid a pro-rated third quarter dividend of $0.090625 per Depositary Share, totaling $181. The initial offering costs associated with the issuance of the Series K Preferred Stock, as well as costs associated with the redemption, totaled $2,121 and are reflected as a deduction from net income in determining earnings per share for the year ended December 31, 2013. | ||||||||||||||
The Company has 10,000,000 shares of preferred stock authorized. All series of preferred stock have no stated maturity (although we may redeem all such preferred stock on or following their optional redemption dates at our option, in whole or in part). | ||||||||||||||
The following table summarizes the preferred shares outstanding at December 31, 2013 and 2012: | ||||||||||||||
Year Ended 2013 | Year Ended 2012 | |||||||||||||
Shares | Liquidation | Shares | Liquidation | |||||||||||
Outstanding | Preference | Outstanding | Preference | |||||||||||
Series F Preferred Stock | 500 | $ | 50,000 | 500 | $ | 50,000 | ||||||||
Series G Preferred Stock | 250 | $ | 25,000 | 250 | $ | 25,000 | ||||||||
Series J Preferred Stock | N/A | N/A | 400 | $ | 100,000 | |||||||||
Series K Preferred Stock | N/A | N/A | 200 | $ | 50,000 | |||||||||
Shares of Common Stock | ||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, 105,028, 535,026, and 125,784 limited partnership interests in the Operating Partnership ("Units"), respectively, were converted into an equivalent number of shares of common stock, resulting in a reclassification of $996, $4,763 and $1,109, respectively, of noncontrolling interest to First Industrial Realty Trust Inc.’s stockholders’ equity. | ||||||||||||||
During the years ended December 31, 2013, 2012 and 2011, we issued 8,400,000, 9,400,000 and 17,300,000 shares of the Company’s common stock in an underwritten public offering. Net proceeds to us for the years ended December 31, 2013, 2012 and 2011, were $132,050, $116,715 and $201,150, respectively. | ||||||||||||||
On February 28, 2011, we entered into distribution agreements with sales agents to sell up to 10,000,000 shares of the Company’s common stock, for up to $100,000 aggregate gross sale proceeds, from time to time in "at-the-market" offerings (the "2011 ATM"). During the year ended December 31, 2011, we issued 115,856 shares of the Company’s common stock under the 2011 ATM resulting in net proceeds to us of $1,391. On February 29, 2012, we terminated the 2011 ATM in preparation for the commencement of the 2012 ATM (defined hereafter). | ||||||||||||||
On March 1, 2012, we entered into distribution agreements with sales agents to sell up to 12,500,000 shares of the Company’s common stock, for up to $125,000 aggregate gross sale proceeds, from time to time in "at-the-market" offerings (the "2012 ATM"). During the years ended December 31, 2013 and 2012, we issued 2,315,704 and 1,532,598 shares, respectively, of the Company’s common stock under the 2012 ATM resulting in net proceeds to us of $41,735 and $18,063. | ||||||||||||||
Under the terms of the ATMs, sales are to be made primarily in transactions that are deemed to be "at-the-market" offerings, including sales made directly on the New York Stock Exchange or sales made through a market maker other than on an exchange or by privately negotiated transactions. | ||||||||||||||
The following table is a roll-forward of our shares of common stock outstanding, including unvested restricted shares of common stock (see Note 14), for the three years ended December 31, 2013: | ||||||||||||||
Shares of | ||||||||||||||
Common Stock | ||||||||||||||
Outstanding | ||||||||||||||
Balance at December 31, 2010 | 68,841,296 | |||||||||||||
Issuance of Common Stock, Including Vesting of Restricted Stock Units | 17,646,586 | |||||||||||||
Issuance of Restricted Stock Shares | 292,339 | |||||||||||||
Repurchase and Retirement of Restricted Stock Shares | (98,603 | ) | ||||||||||||
Conversion of Operating Partnership Units | 125,784 | |||||||||||||
Balance at December 31, 2011 | 86,807,402 | |||||||||||||
Issuance of Common Stock, Including Vesting of Restricted Stock Units | 11,085,905 | |||||||||||||
Issuance of Restricted Stock Shares | 565,137 | |||||||||||||
Repurchase and Retirement of Restricted Stock Shares | (225,557 | ) | ||||||||||||
Conversion of Operating Partnership Units | 535,026 | |||||||||||||
Balance at December 31, 2012 | 98,767,913 | |||||||||||||
Issuance of Common Stock, Including Vesting of Restricted Stock Units | 10,853,693 | |||||||||||||
Issuance of Restricted Stock Shares | 284,461 | |||||||||||||
Repurchase and Retirement of Restricted Stock Shares | (30,245 | ) | ||||||||||||
Conversion of Operating Partnership Units | 105,028 | |||||||||||||
Balance at December 31, 2013 | 109,980,850 | |||||||||||||
Dividends/Distributions | ||||||||||||||
The coupon rate of our Series F Preferred Stock resets every quarter at 2.375% plus the greater of (i) the 30 year Treasury CMT Rate, (ii) the 10 year Treasury CMT Rate or (iii) 3-month LIBOR. For the fourth quarter of 2013, the coupon rate was 6.065%. See Note 15 for additional derivative information related to the Series F Preferred Stock coupon rate reset. | ||||||||||||||
The following table summarizes dividends/distributions accrued during the past three years: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Total | Total | Total | ||||||||||||
Dividend/ | Dividend/ | Dividend/ | ||||||||||||
Distribution * | Distribution * | Distribution | ||||||||||||
Common Stock/Operating Partnership Units | $ | 38,862 | $ | — | $ | — | ||||||||
Series F Preferred Stock | $ | 2,896 | $ | 2,728 | $ | 3,256 | ||||||||
Series G Preferred Stock | $ | 1,809 | $ | 1,809 | $ | 1,809 | ||||||||
Series J Preferred Stock | $ | 2,034 | $ | 10,785 | $ | 10,875 | ||||||||
Series K Preferred Stock | $ | 1,994 | $ | 3,625 | $ | 3,625 | ||||||||
_______________ | ||||||||||||||
* | The second quarter 2013 and fourth quarter 2012 dividend related to redeemed Series J Preferred Stock was pro-rated as discussed in the "Preferred Stock" section. The third quarter 2013 dividend related to redeemed Series K Preferred Stock was pro-rated as discussed in the "Preferred Stock" section. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Accumulated Other Comprehensive Loss [Abstract] | ' | |||||||||||||||
Accumulated Other Comprehensive Loss | ' | |||||||||||||||
8. Accumulated Other Comprehensive Loss | ||||||||||||||||
The following tables summarize the changes in accumulated other comprehensive loss by component and the reclassifications out of accumulated other comprehensive loss for the year ended December 31, 2013: | ||||||||||||||||
Interest Rate Protection Agreements | Foreign Currency Translation Adjustment | Comprehensive Income (Loss) Attributable to Noncontrolling Interest | Total | |||||||||||||
Balance as of December 31, 2012 | $ | (7,008 | ) | $ | 138 | $ | 313 | $ | (6,557 | ) | ||||||
Other Comprehensive Loss Before Reclassifications | — | (60 | ) | (175 | ) | (235 | ) | |||||||||
Amounts Reclassified from Accumulated Other Comprehensive Loss | 3,527 | — | — | 3,527 | ||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 3,527 | (60 | ) | (175 | ) | 3,292 | ||||||||||
Balance as of December 31, 2013 | $ | (3,481 | ) | $ | 78 | $ | 138 | $ | (3,265 | ) | ||||||
Details about Accumulated Other Comprehensive Loss Components | Amount Reclassified from Accumulated Other Comprehensive Loss | Affected Line Item in the Consolidated Statements of Operations | ||||||||||||||
Interest Rate Protection Agreements | ||||||||||||||||
Amortization of Interest Rate Protection Agreements | $ | 2,411 | Interest Expense | |||||||||||||
Write-off of Unamortized Settlement Amounts of Interest Rate Protection Agreements | 1,116 | Loss from Retirement of Debt | ||||||||||||||
$ | 3,527 | Total | ||||||||||||||
Supplemental_Information_to_St
Supplemental Information to Statements of Cash Flows | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Supplemental Information to Statements of Cash Flows | ' | |||||||||||
9. Supplemental Information to Statements of Cash Flows | ||||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
Interest Paid, Net of Interest Expense Capitalized in Connection with Development Activity | $ | 70,726 | $ | 83,504 | $ | 100,375 | ||||||
Interest Expense Capitalized in Connection with Development Activity | $ | 3,611 | $ | 1,997 | $ | 437 | ||||||
Income Taxes Paid (Refunded) | $ | 5,433 | $ | (295 | ) | $ | 1,876 | |||||
Supplemental Schedule of Non-Cash Investing and Financing Activities: | ||||||||||||
Distribution Payable on Common Stock/Operating Partnership Units | $ | 9,837 | $ | — | $ | — | ||||||
Distribution Payable on Preferred Stock | $ | 452 | $ | 452 | $ | 4,763 | ||||||
Exchange of Operating Partnership Units for Common Stock: | ||||||||||||
Noncontrolling Interest | $ | (996 | ) | $ | (4,763 | ) | $ | (1,109 | ) | |||
Common Stock | 1 | 5 | 1 | |||||||||
Additional Paid-in-Capital | 995 | 4,758 | 1,108 | |||||||||
Total | $ | — | $ | — | $ | — | ||||||
Property Transfer to Lender in Satisfaction of Non-Recourse Mortgage Loan: | ||||||||||||
Net Investment in Real Estate | $ | — | $ | — | $ | (3,200 | ) | |||||
Prepaid Expenses and Other Assets, Net | — | — | (1,987 | ) | ||||||||
Mortgage Loan Payable, Net | — | — | 5,040 | |||||||||
Loss from Retirement of Debt | $ | — | $ | — | $ | (147 | ) | |||||
Assumption of Indebtedness and Other Liabilities in Real Estate Acquisitions | $ | 483 | $ | 12,026 | $ | 24,417 | ||||||
Notes Receivable Issued in Conjunction with Certain Property Sales | $ | 12,520 | $ | — | $ | 7,029 | ||||||
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate | $ | 15,249 | $ | 12,524 | $ | 6,517 | ||||||
Write-off of Fully Depreciated Assets | $ | (62,281 | ) | $ | (46,801 | ) | $ | (58,357 | ) |
Earnings_Per_Share_EPS
Earnings Per Share (EPS) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share (EPS) | ' | |||||||||||
10. Earnings Per Share (EPS) | ||||||||||||
The computation of basic and diluted EPS is presented below: | ||||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator: | ||||||||||||
Income (Loss) from Continuing Operations | $ | 4,941 | $ | (22,459 | ) | $ | (33,631 | ) | ||||
Gain on Sale of Real Estate, Net of Income Tax Provision | 890 | 3,777 | 918 | |||||||||
Noncontrolling Interest Allocable to Continuing Operations | 356 | 2,038 | 3,185 | |||||||||
Income (Loss) from Continuing Operations Attributable to First Industrial Realty Trust, Inc. | 6,187 | (16,644 | ) | (29,528 | ) | |||||||
Preferred Dividends | (8,733 | ) | (18,947 | ) | (19,565 | ) | ||||||
Redemption of Preferred Stock | (5,667 | ) | (1,804 | ) | — | |||||||
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (8,213 | ) | $ | (37,395 | ) | $ | (49,093 | ) | |||
Income from Discontinued Operations, Net of Income Tax Provision | $ | 35,597 | $ | 16,163 | $ | 23,523 | ||||||
Noncontrolling Interest Allocable to Discontinued Operations | (1,477 | ) | (837 | ) | (1,440 | ) | ||||||
Income from Discontinued Operations Allocable to Participating Securities | (162 | ) | — | — | ||||||||
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc. | $ | 33,958 | $ | 15,326 | $ | 22,083 | ||||||
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities | $ | 25,907 | $ | (22,069 | ) | $ | (27,010 | ) | ||||
Net Income Allocable to Participating Securities | (162 | ) | — | — | ||||||||
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | 25,745 | (22,069 | ) | (27,010 | ) | |||||||
Denominator: | ||||||||||||
Weighted Average Shares—Basic and Diluted | 106,995 | 91,468 | 80,616 | |||||||||
Basic and Diluted EPS: | ||||||||||||
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.08 | ) | $ | (0.41 | ) | $ | (0.61 | ) | |||
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.32 | $ | 0.17 | $ | 0.27 | ||||||
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.24 | $ | (0.24 | ) | $ | (0.34 | ) | ||||
Participating securities include 488,861, 288,627 and 673,381 of unvested restricted stock awards outstanding at December 31, 2013, 2012 and 2011, respectively, which participate in non-forfeitable dividends of the Company. Under the two class method, participating security holders are allocated income, in proportion to total weighted average shares outstanding, based upon the greater of net income (after reduction for preferred dividends and redemption of preferred stock) or common dividends declared. Since participating security holders are not obligated to share in losses and no common dividends were declared during the years ended December 31, 2012 and 2011, there was no allocation of income to participating security holders for the years ended December 31, 2012 and 2011. | ||||||||||||
The number of weighted average shares—diluted is the same as the number of weighted average shares—basic for the years ended December 31, 2013, 2012 and 2011, as the effect of LTIP Unit Awards (as defined in Note 14) which do not participate in non-forfeitable dividends of the Company was excluded as its inclusion would have been antidilutive to the loss from continuing operations available to First Industrial Realty Trust, Inc.’s common stockholders. The following awards could be dilutive in future periods: | ||||||||||||
Number of | Number of | Number of | ||||||||||
Awards | Awards | Awards | ||||||||||
Outstanding At | Outstanding At | Outstanding At | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
Non-Participating Securities: | ||||||||||||
Restricted Unit Awards | 73,400 | 483,500 | 731,900 | |||||||||
Options | — | — | 25,201 | |||||||||
LTIP Unit Awards | 718,960 | — | — | |||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||
11. Income Taxes | |||||||||||||||||||||
The components of income tax benefit (provision) for the years ended December 31, 2013, 2012 and 2011 are comprised of the following: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Current: | |||||||||||||||||||||
Federal | $ | 231 | $ | (5,210 | ) | $ | (622 | ) | |||||||||||||
State | (264 | ) | (253 | ) | (502 | ) | |||||||||||||||
Foreign | — | (10 | ) | (41 | ) | ||||||||||||||||
Deferred: | |||||||||||||||||||||
Federal | — | — | (284 | ) | |||||||||||||||||
State | 36 | (49 | ) | (2 | ) | ||||||||||||||||
Foreign | — | — | (697 | ) | |||||||||||||||||
$ | 3 | $ | (5,522 | ) | $ | (2,148 | ) | ||||||||||||||
Deferred income taxes represent the tax effect of the temporary differences between the book and tax basis of assets and liabilities. Deferred tax assets (liabilities) include the following as of December 31, 2013 and 2012: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Impairment of Real Estate | $ | 5,185 | $ | 5,519 | |||||||||||||||||
Foreign Net Operating Loss Carryforward | 1,312 | 854 | |||||||||||||||||||
Valuation Allowance | (5,357 | ) | (5,244 | ) | |||||||||||||||||
Other | 696 | 617 | |||||||||||||||||||
Total Deferred Tax Assets, Net of Allowance | $ | 1,836 | $ | 1,746 | |||||||||||||||||
Straight-line Rent | (76 | ) | (91 | ) | |||||||||||||||||
Fixed Assets | (1,771 | ) | (1,666 | ) | |||||||||||||||||
Other | (122 | ) | (158 | ) | |||||||||||||||||
Total Deferred Tax Liabilities | $ | (1,969 | ) | $ | (1,915 | ) | |||||||||||||||
Total Net Deferred Tax Liabilities | $ | (133 | ) | $ | (169 | ) | |||||||||||||||
A valuation allowance is recorded if we believe it is more likely than not that all or some portion of our deferred tax assets will not be realized. We do not have projections of future taxable income or other sources of taxable income in the taxable REIT subsidiaries significant enough to allow us to believe it is more likely than not that we will realize our deferred tax assets. Therefore, we have recorded a valuation allowance against our deferred tax assets. An increase or decrease in the valuation allowance that results from a change in circumstances, and which causes a change in our judgment about the realizability of the related deferred tax assets, is included in the current tax provision. | |||||||||||||||||||||
The income tax benefit (provision) pertaining to income (loss) from continuing operations and gain on sale of real estate differs from the amounts computed by applying the applicable federal statutory rate as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Tax Benefit (Provision) at Federal Rate Related to Continuing Operations | $ | 286 | $ | 557 | $ | (2,162 | ) | ||||||||||||||
State Tax Provision, Net of Federal Benefit (Provision) | (236 | ) | (244 | ) | (521 | ) | |||||||||||||||
Non-deductible Permanent Items, Net | 21 | 32 | (54 | ) | |||||||||||||||||
IRS Audit Adjustment and Accrued Interest | 58 | (5,523 | ) | — | |||||||||||||||||
Change in Valuation Allowance | (388 | ) | (166 | ) | 1,853 | ||||||||||||||||
Foreign Taxes, Net | — | (10 | ) | (96 | ) | ||||||||||||||||
Other | 262 | (168 | ) | 78 | |||||||||||||||||
Net Income Tax Benefit (Provision) | $ | 3 | $ | (5,522 | ) | $ | (902 | ) | |||||||||||||
We evaluate tax positions taken in the financial statements on a quarterly basis under the interpretation for accounting for uncertainty in income taxes. As a result of this evaluation, we may recognize a tax benefit from an uncertain tax position only if it is "more-likely-than-not" that the tax position will be sustained on examination by taxing authorities. As of December 31, 2013, we do not have any unrecognized tax benefits. | |||||||||||||||||||||
We file income tax returns in the U.S., and various states and foreign jurisdictions. In general, the statutes of limitations for income tax returns remain open for the years 2010 through 2013. | |||||||||||||||||||||
IRS Tax Refund | |||||||||||||||||||||
On August 24, 2009, we received a private letter ruling from the IRS granting favorable loss treatment under Sections 331 and 336 of the Code on the tax liquidation of one of our former taxable REIT subsidiaries. On November 6, 2009, legislation was signed that allowed businesses with net operating losses for 2008 or 2009 to carry back those losses for up to five years. As a result, we received a refund from the IRS of $40,418 in the fourth quarter of 2009 (the "Refund") in connection with this tax liquidation. The IRS examination team, which is required by statute to review all refund claims in excess of $2,000 on behalf of the Joint Committee on Taxation, indicated to us that it disagreed with certain of the property valuations we obtained from an independent valuation expert in support of our fair value of the liquidated taxable REIT subsidiary and our claim for the Refund. During the year ended December 31, 2012, we reached an agreement with the regional office of the IRS on a proposed adjustment to the Refund. The total agreed-upon adjustment to taxable income was $13,700, which equates to $4,806 of taxes owed. We were also required to pay accrued interest of approximately $500. During the year ended December 31, 2012, the Company recorded a charge for the agreed-upon adjustment and the related estimated accrued interest which was reflected as a component of income tax expense. During the year ended December 31, 2013, the settlement amount was approved by the Joint Committee on Taxation and we paid the agreed upon taxes and related accrued interest. | |||||||||||||||||||||
As a result of the Joint Committee on Taxation's approval during 2013, we entered into closing agreements with the IRS that determined the timing of the settlement on the tax characterization of the limited partners of the Operating Partnership and the stockholders of the Company. Pursuant to these closing agreements, $8,238 of the preferred stock distributions for the year ended December 31, 2012 are taxable as capital gain. As revised, for income tax purposes, 35.42% of our 2012 preferred stock distributions are classified as long term capital gains and 64.58% are classified as return of capital. | |||||||||||||||||||||
Federal Income Tax Treatment of Share Distributions | |||||||||||||||||||||
For income tax purposes, distributions paid to common shareholders are classified as ordinary income, capital gain, return of capital or qualified dividends. We did not pay common share distributions for the years ended December 31, 2012 and 2011. For the year ended December 31, 2013, the distributions per common share were classified as follows: | |||||||||||||||||||||
Common Stock | 2013 | As a | |||||||||||||||||||
Percentage | |||||||||||||||||||||
of | |||||||||||||||||||||
Distributions | |||||||||||||||||||||
Ordinary Income | $ | 0.3088 | 100 | % | |||||||||||||||||
Long-term Capital Gains | — | 0 | % | ||||||||||||||||||
Unrecaptured Section 1250 Gain | — | 0 | % | ||||||||||||||||||
Return of Capital | — | 0 | % | ||||||||||||||||||
Qualified Dividends | — | 0 | % | ||||||||||||||||||
$ | 0.3088 | 100 | % | ||||||||||||||||||
For income tax purposes, distributions paid to preferred shareholders are classified as ordinary income, capital gain, return of capital or qualified dividends. For the years ended December 31, 2013, 2012 and 2011, the preferred distributions per depositary share were classified as follows: | |||||||||||||||||||||
Series J Preferred Stock | 2013 (1) | As a | 2012 | As a | 2011 | As a | |||||||||||||||
Percentage | Percentage | Percentage | |||||||||||||||||||
of | of | of | |||||||||||||||||||
Distributions (1) | Distributions | Distributions | |||||||||||||||||||
Ordinary Income | $ | 0.5085 | 100 | % | $ | — | 0 | % | $ | 0.313 | 23.02 | % | |||||||||
Long-term Capital Gains | — | 0 | % | 0.8025 | 35.42 | % | — | 0 | % | ||||||||||||
Unrecaptured Section 1250 Gain | — | 0 | % | — | 0 | % | — | 0 | % | ||||||||||||
Return of Capital | — | 0 | % | 1.4632 | 64.58 | % | 1.0402 | 76.52 | % | ||||||||||||
Qualified Dividends | — | 0 | % | — | 0 | % | 0.0062 | 0.46 | % | ||||||||||||
$ | 0.5085 | 100 | % | $ | 2.2657 | 100 | % | $ | 1.3594 | 100 | % | ||||||||||
________________ | |||||||||||||||||||||
-1 | The remaining 4,000,000 Depositary Shares of the Series J Preferred Stock were redeemed on April 11, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above. | ||||||||||||||||||||
Series J Preferred Stock – Depositary Shares Redeemed (2) | 2012 | As a | |||||||||||||||||||
Percentage | |||||||||||||||||||||
of | |||||||||||||||||||||
Distributions | |||||||||||||||||||||
Ordinary Income | $ | — | 0 | % | |||||||||||||||||
Long-term Capital Gains | 0.7864 | 35.42 | % | ||||||||||||||||||
Unrecaptured Section 1250 Gain | — | 0 | % | ||||||||||||||||||
Return of Capital | 1.4339 | 64.58 | % | ||||||||||||||||||
Qualified Dividends | — | 0 | % | ||||||||||||||||||
$ | 2.2203 | 100 | % | ||||||||||||||||||
________________ | |||||||||||||||||||||
-2 | Schedule relates to the 2,000,000 Depositary Shares of the Series J Preferred Stock that were redeemed on December 21, 2012. The 2012 redemption had no impact on the 2011 allocation. | ||||||||||||||||||||
Series K Preferred Stock | 2013 (3) | As a | 2012 | As a | 2011 | As a | |||||||||||||||
Percentage | Percentage | Percentage | |||||||||||||||||||
of | of | of | |||||||||||||||||||
Distributions (3) | Distributions | Distributions | |||||||||||||||||||
Ordinary Income | $ | 0.9969 | 100 | % | $ | — | 0 | % | $ | 0.313 | 23.02 | % | |||||||||
Long-term Capital Gains | — | 0 | % | 0.8025 | 35.42 | % | — | 0 | % | ||||||||||||
Unrecaptured Section 1250 Gain | — | 0 | % | — | 0 | % | — | 0 | % | ||||||||||||
Return of Capital | — | 0 | % | 1.4632 | 64.58 | % | 1.0402 | 76.52 | % | ||||||||||||
Qualified Dividends | — | 0 | % | — | 0 | % | 0.0062 | 0.46 | % | ||||||||||||
$ | 0.9969 | 100 | % | $ | 2.2657 | 100 | % | $ | 1.3594 | 100 | % | ||||||||||
________________ | |||||||||||||||||||||
-3 | Schedule relates to the 2,000,000 Depositary Shares of the Series K Preferred Stock that were redeemed on July 18, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above. |
Restructuring_Costs
Restructuring Costs | 12 Months Ended |
Dec. 31, 2013 | |
Restructuring Costs [Abstract] | ' |
Restructuring Costs | ' |
12. Restructuring Costs | |
We committed to a plan to reduce organizational and overhead costs in October 2008 and had subsequently modified that plan during 2011 with the goal of further reducing those costs. During the year ended December 31, 2011, we recognized $1,553 in restructuring costs, of which $1,200 related to the termination of certain office leases and $353 related to other expenses. At December 31, 2013 and 2012, $1,130 and $1,464, respectively, relating to unpaid restructuring expense was included in accounts payable, accrued expenses and other liabilities. |
Future_Rental_Revenues
Future Rental Revenues | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Operating Leases, Future Minimum Payments Receivable [Abstract] | ' | |||
Future Rental Revenues | ' | |||
13. Future Rental Revenues | ||||
Our properties are leased to tenants under net and semi-net operating leases. Minimum lease payments receivable, excluding tenant reimbursements of expenses, under non-cancelable operating leases in effect as of December 31, 2013 are approximately as follows: | ||||
2014 | $ | 242,261 | ||
2015 | 210,117 | |||
2016 | 167,903 | |||
2017 | 134,636 | |||
2018 | 102,717 | |||
Thereafter | 298,738 | |||
Total | $ | 1,156,372 | ||
Stock_Based_Compensation
Stock Based Compensation | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Share-based Compensation [Abstract] | ' | ||||||
Stock Based Compensation | ' | ||||||
14. Stock Based Compensation | |||||||
We maintain five stock incentive plans, (the "Stock Incentive Plans") which are administered by the Compensation Committee of the Board of Directors. There are 11,500,000 shares authorized for issuance under the Stock Incentive Plans. Only officers, certain employees, our Independent Directors and our affiliates generally are eligible to participate in the Stock Incentive Plans. | |||||||
The Stock Incentive Plans authorize (i) the grant of stock options that qualify as incentive stock options under Section 422 of the Code, (ii) the grant of stock options that do not so qualify, (iii) restricted stock/unit awards (including awards subject to performance conditions), and (iv) dividend equivalent rights. The exercise price of the stock options is determined by the Compensation Committee. Special provisions apply to awards granted under the Stock Incentive Plans in the event of a change in control in the Company. As of December 31, 2013, awards covering 373,243 shares of common stock were available to be granted under the Stock Incentive Plans. | |||||||
In September 1994, the Board of Directors approved and we adopted a 401(k)/Profit Sharing Plan. Under our 401(k)/Profit Sharing Plan, all eligible employees may participate by making voluntary contributions. We may make, but are not required to make, matching contributions. For the years ended December 31, 2013, 2012 and 2011, matching contributions of $300, $284 and $197, respectively, were recorded. | |||||||
For the years ended December 31, 2013, 2012 and 2011, we awarded 284,461, 565,137 and 292,339 shares, respectively, of restricted stock awards to certain employees, which had a fair value of $4,719, $7,065 and $3,248 on the date of approval by the Compensation Committee of the Board of Directors and/or the Board of Directors. These restricted stock awards generally vest over a period of three years. Compensation expense will be charged to earnings over the vesting period for the shares expected to vest except if the recipient is not required to provide future service in exchange for vesting of the share. If vesting of a recipient's restricted stock awards is not contingent upon future service, the expense is recognized immediately at the date of grant. During the years ended December 31, 2013 and 2012, we recognized $1,008 and $3,649 of compensation expense related to restricted stock awards granted to our Chief Executive Officer for which future service was not required. | |||||||
The Board of Directors adopted the 2013 Long-Term Incentive Program ("LTIP") and effective July 1, 2013, certain officers and employees were granted 718,960 performance units ("LTIP Unit Awards"). The LTIP Unit Awards had a fair value of $5,411 on the grant date as determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation. The 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 half of the granted units is calculated based upon the performance from July 1, 2013 through June 30, 2014 and the other half is calculated based upon the performance from July 1, 2013 through December 31, 2015. Compensation expense will be charged to earnings on a straight-line basis over the respective performance periods. At the end of the respective performance periods, 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 TSR of the MSCI US REIT Index and the NAREIT Industrial Index. The participants will also be entitled to dividend equivalents for shares issued pursuant to vested LTIP Unit Awards, of which dividend equivalents represent any common dividends that would have been paid with respect to such issued shares after the grant of the LTIP Unit Awards and prior to the date of settlement. | |||||||
As mentioned above, the fair value of the LTIP Unit Awards at issuance was determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation using the following assumptions: | |||||||
Expected dividend yield | 2.22 | % | |||||
Expected volatility - range used | 24.28% - 34.66% | ||||||
Expected volatility - weighted average | 30.61 | % | |||||
Risk-free interest rate | 0.03% - 0.71% | ||||||
Expected term | 1 - 2.5 years | ||||||
For the years ended December 31, 2013, 2012 and 2011, we recognized $6,202, $8,559 and $3,759 in amortization related to restricted stock and unit awards and LTIP Unit Awards, of which $43, $32 and $0, respectively, was capitalized in connection with development activities. At December 31, 2013, we had $7,319 in unrecognized compensation related to unvested restricted stock and LTIP Unit Awards. The weighted average period that the unrecognized compensation is expected to be recognized is 0.83 years. | |||||||
Restricted stock and unit award and LTIP Unit Award transactions for the year ended December 31, 2013 are summarized as follows: | |||||||
Awards | Weighted | ||||||
Average | |||||||
Grant Date | |||||||
Fair Value | |||||||
Outstanding at December 31, 2012 (Restricted Stock and Unit) | 772,127 | $ | 7.02 | ||||
Issued (Restricted Stock and Unit and LTIP Unit Award) | 1,003,421 | $ | 10.1 | ||||
Forfeited (Restricted Stock and Unit) | (201,719 | ) | $ | 4.58 | |||
Vested (Restricted Stock and Unit) | (292,608 | ) | $ | 7.41 | |||
Outstanding at December 31, 2013 (Restricted Stock and Unit and LTIP Unit Award) | 1,281,221 | $ | 9.72 | ||||
Derivatives
Derivatives | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||
Derivatives | ' | |||||||||||||||||
15. Derivatives | ||||||||||||||||||
Our objectives in using interest rate derivatives are to add stability to interest expense or preferred stock dividends and to manage our cash flow volatility and exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps 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. | ||||||||||||||||||
Our Series F Preferred Stock is subject to a coupon rate reset. The coupon rate resets every quarter at 2.375% plus the greater of i) the 30 year Treasury CMT Rate, ii) the 10 year Treasury CMT Rate or iii) 3-month LIBOR. For the fourth quarter of 2013, the new coupon rate was 6.065%. In October 2008, we entered into an interest rate swap agreement with a notional value of $50,000 to mitigate our exposure to floating interest rates related to the forecasted reset rate of the coupon rate of our Series F Preferred Stock (the "Series F Agreement"). This Series F Agreement fixes the 30 year Treasury CMT rate at 5.2175%. Accounting guidance for derivatives does not permit hedge accounting treatment related to equity instruments and therefore the mark-to-market gains or losses related to this agreement are recorded in the statement of operations. For the years ended December 31, 2013 and 2012, gains of $52 and losses of $328, respectively, are recognized as mark-to-market gain (loss) on interest rate protection agreements. Quarterly payments are treated as a component of the mark-to-market gains or losses and totaled $774 and $1,169 for the years ended December 31, 2013 and 2012, respectively. The Series F Agreement matured on October 1, 2013. | ||||||||||||||||||
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 ("OCI") 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 $1,358 into net income by increasing interest expense for interest rate protection agreements we settled in previous periods. | ||||||||||||||||||
The following is a summary of the terms of our Series F Agreement and its fair value, which is included in accounts payable, accrued expenses and other liabilities on the accompanying consolidated balance sheets: | ||||||||||||||||||
Hedge Product | Notional | Strike | Trade | Maturity | Fair Value | Fair Value | ||||||||||||
Amount | Date | Date | As of | As of | ||||||||||||||
December 31, | December 31, | |||||||||||||||||
2013 | 2012 | |||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||
Series F Agreement* | $ | 50,000 | 5.2175 | % | October 1, 2008 | October 1, 2013 | N/A | $ | (826 | ) | ||||||||
_______________ | ||||||||||||||||||
* | Fair value excludes quarterly settlement payment due on Series F Agreement. As of December 31, 2012, the outstanding payable was $305. | |||||||||||||||||
The following is a summary of the impact of the derivatives in cash flow hedging relationships on the statements of operations and the statements of OCI for the years ended December 31, 2013 and 2012: | ||||||||||||||||||
Year Ended | ||||||||||||||||||
Interest Rate Products | Location on Statement | December 31, 2013 | December 31, 2012 | |||||||||||||||
Amortization Reclassified from OCI into Income (Loss) | Interest Expense | $ | (2,411 | ) | $ | (2,271 | ) | |||||||||||
The guidance for fair value measurement of financial instruments includes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. | ||||||||||||||||||
The following table sets forth our financial liability related to the Series F Agreement that is accounted for at fair value on a recurring basis as of December 31, 2012: | ||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | ||||||||||||||||||
Description | Fair Value | Quoted Prices in | Significant Other | Unobservable | ||||||||||||||
Active Markets for | Observable Inputs | Inputs | ||||||||||||||||
Identical Assets | (Level 2) | (Level 3) | ||||||||||||||||
(Level 1) | ||||||||||||||||||
Liabilities: | ||||||||||||||||||
Series F Agreement at December 31, 2012 | $ | (826 | ) | — | — | $ | (826 | ) | ||||||||||
The following table presents the quantitative information about the Level 3 fair value measurements at December 31, 2012: | ||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements: | ||||||||||||||||||
Description | Fair Value | Valuation Technique | Unobservable Inputs | Range | ||||||||||||||
Series F Agreement at December 31, 2012 | $ | (826 | ) | Discounted Cash Flow | Long Dated Treasuries (A) | 2.82% - 2.91% | ||||||||||||
Own Credit Risk (B) | 0.98% - 1.59% | |||||||||||||||||
________________ | ||||||||||||||||||
(A) Represents the forward 30 year Treasury CMT Rate. | ||||||||||||||||||
(B) Represents credit default swap spread curve used in the valuation analysis at December 31, 2012. | ||||||||||||||||||
The valuation of the Series F Agreement was determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the instrument. This analysis reflected the contractual terms of the agreement including the period to maturity. In adjusting the fair value of the Series F Agreement for the effect of nonperformance risk, we had considered the impact of netting and any applicable credit enhancement. To comply with the provisions of fair value measurement, we calculated a credit valuation adjustment to appropriately reflect both our own nonperformance risk and our counterparty’s nonperformance risk in the fair value measurements. We considered the Series F Agreement to be classified as Level 3 in the fair value hierarchy due to a significant number of unobservable inputs. The Series F Agreement swapped a fixed rate of 5.2175% for floating rate payments based on 30 year Treasury CMT rate. No market observable prices exist for long dated Treasuries. Therefore, we have classified the Series F Agreement in its entirety as Level 3. | ||||||||||||||||||
The following table presents a reconciliation of our liability classified as Level 3 at December 31, 2013 and 2012: | ||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||
Using Significant | ||||||||||||||||||
Unobservable Inputs | ||||||||||||||||||
(Level 3) Derivatives | ||||||||||||||||||
Ending Liability Balance at December 31, 2011 | $ | (1,667 | ) | |||||||||||||||
Mark-to-Market of the Series F Agreement | 841 | |||||||||||||||||
Ending Liability Balance at December 31, 2012 | $ | (826 | ) | |||||||||||||||
Mark-to-Market of the Series F Agreement | 826 | |||||||||||||||||
Ending Liability Balance at December 31, 2013 | $ | — | ||||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
16. 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. | ||||
Three properties have leases granting the tenants options to purchase the property. Such options are exercisable at various times at appraised fair market value or at a fixed purchase price in excess of our depreciated cost of the asset. We have no notice of any exercise of any tenant purchase option. | ||||
At December 31, 2013, we had an outstanding letter of credit and performance bonds in the aggregate amount of $8,054. | ||||
In conjunction with the development of industrial properties, we have entered into agreements with general contractors for the construction of industrial buildings. At December 31, 2013, we have three industrial buildings totaling approximately 0.8 million square feet of GLA that are under construction. The estimated total construction costs as of December 31, 2013, are approximately $49,200 (unaudited). Of this amount, approximately $23,900 (unaudited) remains to be funded. There can be no assurance that the actual completion cost will not exceed the estimated completion cost stated above. | ||||
Ground and Operating Lease Agreements | ||||
For the years ended December 31, 2013, 2012 and 2011, we recognized $1,440, $1,565 and $1,955, respectively, in operating and ground lease expense. | ||||
Future minimum rental payments under the terms of all non-cancelable ground and operating leases under which we are the lessee as of December 31, 2013 are as follows: | ||||
2014 | $ | 1,824 | ||
2015 | 1,660 | |||
2016 | 1,673 | |||
2017 | 1,702 | |||
2018 | 1,100 | |||
Thereafter | 25,117 | |||
Total* | $ | 33,076 | ||
________________ | ||||
* | Minimum rental payments have not been reduced by minimum sublease rentals of $6,832 due in the future under non-cancelable subleases. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
From January 1, 2014 to February 27, 2014, we acquired one industrial property for a purchase price of approximately $13,400, excluding costs incurred in conjunction with the acquisition and we sold one industrial property for approximately $1,335. Additionally, in January 2014 the 2003 Net Lease Joint Venture sold two industrial properties (see Note 5). | |
On January 29, 2014, we entered into a $200,000 unsecured loan with a seven-year term. The loan features interest-only payments and initially bears an interest rate of LIBOR plus 175 basis points. The rate is subject to adjustment based on our leverage ratio or credit ratings. We also entered into interest rate swap agreements, with an aggregate notional value of $200,000, to convert the term loan's LIBOR rate to a fixed rate of approximately 4.04% per annum, based on the loan's current spread. | |
On February 3, 2014, we announced that we will redeem all 50,000 Depositary Shares of our Series F Preferred Stock. The redemption price will be $1,000.00 per Depositary Share, or $50,000, plus all accumulated and unpaid distributions to and including the date of redemption, March 6, 2014. We also announced that we will redeem all 25,000 Depositary Shares of our Series G Preferred Stock. The redemption price will be $1,000.00 per Depositary Share, or $25,000 plus all accumulated and unpaid distributions to and including the date of redemption, March 31, 2014. |
Quarterly_Financial_Informatio
Quarterly Financial Information (unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Quarterly Financial Information (unaudited) | ' | |||||||||||||||
18. Quarterly Financial Information (unaudited) | ||||||||||||||||
The following tables summarize our quarterly financial information. The first, second and third fiscal quarters of 2013 and all fiscal quarters in 2012 have been revised in accordance with guidance on accounting for discontinued operations. Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities and basic and diluted EPS from Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders have not been affected. | ||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
Total Revenues | $ | 80,698 | $ | 82,098 | $ | 81,294 | $ | 84,136 | ||||||||
Equity in Income of Joint Ventures | 20 | 27 | 72 | 17 | ||||||||||||
Noncontrolling Interest Allocable to Continuing Operations | 128 | 293 | 39 | (67 | ) | |||||||||||
Income (Loss) from Continuing Operations, Net of Noncontrolling Interest | 1,027 | (984 | ) | 2,592 | 2,699 | |||||||||||
(Loss) Income from Discontinued Operations | (2,284 | ) | 12,639 | 5,919 | 19,323 | |||||||||||
Noncontrolling Interest Allocable to Discontinued Operations | 104 | (538 | ) | (246 | ) | (797 | ) | |||||||||
Gain on Sale of Real Estate, Net of Income Tax | 262 | — | 291 | 337 | ||||||||||||
Noncontrolling Interest Allocable to Gain on Sale of Real Estate | (12 | ) | — | (12 | ) | (13 | ) | |||||||||
Net (Loss) Income Attributable to First Industrial Realty Trust, Inc. | (903 | ) | 11,117 | 8,544 | 21,549 | |||||||||||
Preferred Dividends | (3,837 | ) | (2,277 | ) | (1,392 | ) | (1,227 | ) | ||||||||
Redemption of Preferred Stock | — | (3,546 | ) | (2,121 | ) | — | ||||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities | (4,740 | ) | 5,294 | 5,031 | 20,322 | |||||||||||
Income from Continuing Operations Allocable to Participating Securities | (36 | ) | — | — | (8 | ) | ||||||||||
Income from Discontinued Operations Allocable to Participating Securities | — | (42 | ) | (42 | ) | (82 | ) | |||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (4,776 | ) | $ | 5,252 | $ | 4,989 | $ | 20,232 | |||||||
Basic and Diluted Earnings Per Share: | ||||||||||||||||
(Loss) Income from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.03 | ) | $ | (0.06 | ) | $ | 0 | $ | 0.01 | ||||||
(Loss) Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.02 | ) | $ | 0.11 | $ | 0.05 | $ | 0.17 | |||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.05 | ) | $ | 0.05 | $ | 0.05 | $ | 0.18 | |||||||
Weighted Average Shares – Basic | 100,774 | 108,117 | 109,474 | 109,490 | ||||||||||||
LTIP Unit Awards | — | — | — | 485 | ||||||||||||
Weighted Average Units —Diluted | 100,774 | 108,117 | 109,474 | 109,975 | ||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
Total Revenues | $ | 77,523 | $ | 78,946 | $ | 76,636 | $ | 81,220 | ||||||||
Equity in Income of Joint Ventures | 91 | 37 | 28 | 1,403 | ||||||||||||
Noncontrolling Interest Allocable to Continuing Operations | 538 | 1,005 | 204 | 487 | ||||||||||||
Loss from Continuing Operations, Net of Noncontrolling Interest | (4,396 | ) | (12,502 | ) | (246 | ) | (3,081 | ) | ||||||||
Income from Discontinued Operations | 5,989 | 3,141 | 5,869 | 1,164 | ||||||||||||
Noncontrolling Interest Allocable to Discontinued Operations | (331 | ) | (167 | ) | (285 | ) | (54 | ) | ||||||||
Gain on Sale of Real Estate | — | — | 3,777 | — | ||||||||||||
Noncontrolling Interest Allocable to Gain on Sale of Real Estate | — | — | (196 | ) | — | |||||||||||
Net Income (Loss) Attributable to First Industrial Realty Trust, Inc. | 1,262 | (9,528 | ) | 8,919 | (1,971 | ) | ||||||||||
Preferred Dividends | (4,762 | ) | (4,798 | ) | (4,725 | ) | (4,662 | ) | ||||||||
Redemption of Preferred Stock | — | — | — | (1,804 | ) | |||||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities | (3,500 | ) | (14,326 | ) | 4,194 | (8,437 | ) | |||||||||
Income from Discontinued Operations Allocable to Participating Securities | — | — | (33 | ) | — | |||||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (3,500 | ) | $ | (14,326 | ) | $ | 4,161 | $ | (8,437 | ) | |||||
Basic and Diluted Earnings Per Share: | ||||||||||||||||
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.11 | ) | $ | (0.19 | ) | $ | (0.02 | ) | $ | (0.10 | ) | ||||
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.07 | $ | 0.03 | $ | 0.06 | $ | 0.01 | ||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.04 | ) | $ | (0.16 | ) | $ | 0.04 | $ | (0.09 | ) | |||||
Weighted Average Shares – Basic and Diluted | 86,575 | 87,981 | 93,488 | 97,738 | ||||||||||||
REAL_ESTATE_AND_ACCUMULATED_DE
REAL ESTATE AND ACCUMULATED DEPRECIATION | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ' | ||||||||||||||||||||||||||||||||||||||
SCHEDULE III: | |||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||
(b) | (c) | Gross Amount Carried | Year | Depreciable | |||||||||||||||||||||||||||||||||||
Initial Cost | Costs | At Close of Period 12/31/13 | Acquired/ | Lives | |||||||||||||||||||||||||||||||||||
Capitalized | Constructed | (Years) | |||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
Acquisition or | |||||||||||||||||||||||||||||||||||||||
Completion | |||||||||||||||||||||||||||||||||||||||
and Valuation | |||||||||||||||||||||||||||||||||||||||
Building Address | Location | (a) | Land | Building and | Provision | Land | Building and | Total | Accumulated | ||||||||||||||||||||||||||||||
(City/State) | Encumbrances | Improvements | Improvements | Depreciation | |||||||||||||||||||||||||||||||||||
12/31/13 | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||
Atlanta | |||||||||||||||||||||||||||||||||||||||
4250 River Green Parkway | Duluth, GA | $ | — | $ | 264 | $ | 1,522 | $ | 32 | $ | 214 | $ | 1,604 | $ | 1,818 | $ | 813 | 1994 | (j) | ||||||||||||||||||||
3450 Corporate Way | Duluth, GA | — | 506 | 2,904 | (705 | ) | 284 | 2,421 | 2,705 | 1,319 | 1994 | (j) | |||||||||||||||||||||||||||
1650 Highway 155 | McDonough, GA | — | 788 | 4,544 | (817 | ) | 365 | 4,150 | 4,515 | 2,368 | 1994 | (j) | |||||||||||||||||||||||||||
1665 Dogwood | Conyers, GA | — | 635 | 3,662 | 946 | 635 | 4,608 | 5,243 | 2,064 | 1994 | (j) | ||||||||||||||||||||||||||||
1715 Dogwood | Conyers, GA | — | 288 | 1,675 | 801 | 228 | 2,536 | 2,764 | 1,006 | 1994 | (j) | ||||||||||||||||||||||||||||
11235 Harland Drive | Covington, GA | — | 125 | 739 | 164 | 125 | 903 | 1,028 | 422 | 1994 | (j) | ||||||||||||||||||||||||||||
4051 Southmeadow Parkway | Atlanta, GA | — | 726 | 4,130 | 889 | 726 | 5,019 | 5,745 | 2,238 | 1994 | (j) | ||||||||||||||||||||||||||||
4071 Southmeadow Parkway | Atlanta, GA | — | 750 | 4,460 | 1,688 | 828 | 6,070 | 6,898 | 2,733 | 1994 | (j) | ||||||||||||||||||||||||||||
4081 Southmeadow Parkway | Atlanta, GA | — | 1,012 | 5,918 | 1,457 | 1,157 | 7,230 | 8,387 | 3,214 | 1994 | (j) | ||||||||||||||||||||||||||||
5570 Tulane Dr | (d) | Atlanta, GA | 2,281 | 527 | 2,984 | 1,046 | 546 | 4,011 | 4,557 | 1,546 | 1996 | (j) | |||||||||||||||||||||||||||
955 Cobb Place | Kennesaw, GA | 3,008 | 780 | 4,420 | 809 | 804 | 5,205 | 6,009 | 1,929 | 1997 | (j) | ||||||||||||||||||||||||||||
1005 Sigman Road | Conyers, GA | 2,163 | 566 | 3,134 | 433 | 574 | 3,559 | 4,133 | 1,224 | 1999 | (j) | ||||||||||||||||||||||||||||
2050 East Park Drive | Conyers, GA | — | 452 | 2,504 | 143 | 459 | 2,640 | 3,099 | 932 | 1999 | (j) | ||||||||||||||||||||||||||||
1256 Oakbrook Drive | Norcross, GA | 1,290 | 336 | 1,907 | 334 | 339 | 2,238 | 2,577 | 673 | 2001 | (j) | ||||||||||||||||||||||||||||
1265 Oakbrook Drive | Norcross, GA | 1,167 | 307 | 1,742 | 281 | 309 | 2,021 | 2,330 | 631 | 2001 | (j) | ||||||||||||||||||||||||||||
1280 Oakbrook Drive | Norcross, GA | 1,161 | 281 | 1,592 | 286 | 283 | 1,876 | 2,159 | 563 | 2001 | (j) | ||||||||||||||||||||||||||||
1300 Oakbrook Drive | Norcross, GA | 1,640 | 420 | 2,381 | 248 | 423 | 2,626 | 3,049 | 797 | 2001 | (j) | ||||||||||||||||||||||||||||
1325 Oakbrook Drive | Norcross, GA | 1,362 | 332 | 1,879 | 322 | 334 | 2,199 | 2,533 | 681 | 2001 | (j) | ||||||||||||||||||||||||||||
1351 Oakbrook Drive | Norcross, GA | — | 370 | 2,099 | (940 | ) | 146 | 1,383 | 1,529 | 687 | 2001 | (j) | |||||||||||||||||||||||||||
1346 Oakbrook Drive | Norcross, GA | — | 740 | 4,192 | (699 | ) | 352 | 3,881 | 4,233 | 1,719 | 2001 | (j) | |||||||||||||||||||||||||||
3060 South Park Blvd | Ellenwood, GA | — | 1,600 | 12,464 | 2,386 | 1,604 | 14,846 | 16,450 | 4,514 | 2003 | (j) | ||||||||||||||||||||||||||||
Greenwood Industrial Park | McDonough, GA | 4,523 | 1,550 | — | 7,485 | 1,550 | 7,485 | 9,035 | 1,761 | 2004 | (j) | ||||||||||||||||||||||||||||
46 Kent Drive | Cartersville GA | 1,757 | 794 | 2,252 | 6 | 798 | 2,254 | 3,052 | 725 | 2005 | (j) | ||||||||||||||||||||||||||||
605 Stonehill Drive | Atlanta, GA | 1,534 | 485 | 1,979 | (23 | ) | 490 | 1,951 | 2,441 | 1,521 | 2005 | (j) | |||||||||||||||||||||||||||
5095 Phillip Lee Drive | Atlanta, GA | 5,008 | 735 | 3,627 | 451 | 740 | 4,073 | 4,813 | 2,086 | 2005 | (j) | ||||||||||||||||||||||||||||
6514 Warren Drive | Norcross, GA | — | 510 | 1,250 | 114 | 513 | 1,361 | 1,874 | 390 | 2005 | (j) | ||||||||||||||||||||||||||||
6544 Warren Drive | Norcross, GA | — | 711 | 2,310 | 298 | 715 | 2,604 | 3,319 | 799 | 2005 | (j) | ||||||||||||||||||||||||||||
5356 E. Ponce De Leon | Stone Mountain, GA | 2,571 | 604 | 3,888 | 288 | 610 | 4,170 | 4,780 | 1,724 | 2005 | (j) | ||||||||||||||||||||||||||||
5390 E. Ponce De Leon | Stone Mountain, GA | — | 397 | 1,791 | 42 | 402 | 1,828 | 2,230 | 622 | 2005 | (j) | ||||||||||||||||||||||||||||
195 & 197 Collins Boulevard | Athens, GA | — | 1,410 | 5,344 | (1,742 | ) | 989 | 4,023 | 5,012 | 3,142 | 2005 | (j) | |||||||||||||||||||||||||||
1755 Enterprise Drive | Buford, GA | 1,317 | 712 | 2,118 | (200 | ) | 716 | 1,914 | 2,630 | 533 | 2006 | (j) | |||||||||||||||||||||||||||
4555 Atwater Court | Buford, GA | 2,266 | 881 | 3,550 | 96 | 885 | 3,642 | 4,527 | 1,002 | 2006 | (j) | ||||||||||||||||||||||||||||
80 Liberty Industrial Parkway | McDonough, GA | — | 756 | 3,695 | (1,428 | ) | 467 | 2,556 | 3,023 | 800 | 2007 | (j) | |||||||||||||||||||||||||||
596 Bonnie Valentine | Pendergrass, GA | — | 2,580 | 21,730 | 2,870 | 2,594 | 24,586 | 27,180 | 5,013 | 2007 | (j) | ||||||||||||||||||||||||||||
11415 Old Roswell Road | Alpharetta, GA | 3,148 | 2,403 | 1,912 | 628 | 2,428 | 2,515 | 4,943 | 784 | 2008 | (j) | ||||||||||||||||||||||||||||
Baltimore | |||||||||||||||||||||||||||||||||||||||
9700 Martin Luther King Hwy | Lanham, MD | — | 700 | 1,920 | 734 | 700 | 2,654 | 3,354 | 961 | 2003 | (j) | ||||||||||||||||||||||||||||
9730 Martin Luther King Hwy | Lanham, MD | — | 500 | 955 | 500 | 500 | 1,455 | 1,955 | 498 | 2003 | (j) | ||||||||||||||||||||||||||||
4621 Boston Way | Lanham, MD | — | 1,100 | 3,070 | 466 | 1,100 | 3,536 | 4,636 | 1,235 | 2003 | (j) | ||||||||||||||||||||||||||||
4720 Boston Way | Lanham, MD | — | 1,200 | 2,174 | 630 | 1,200 | 2,804 | 4,004 | 903 | 2003 | (j) | ||||||||||||||||||||||||||||
22520 Randolph Drive | Dulles, VA | 7,301 | 3,200 | 8,187 | (850 | ) | 3,208 | 7,329 | 10,537 | 1,508 | 2004 | (j) | |||||||||||||||||||||||||||
22630 Dulles Summit Court | Dulles, VA | — | 2,200 | 9,346 | (820 | ) | 2,206 | 8,520 | 10,726 | 1,793 | 2004 | (j) | |||||||||||||||||||||||||||
4201 Forbes Boulevard | Lanham, MD | — | 356 | 1,823 | 156 | 375 | 1,960 | 2,335 | 518 | 2005 | (j) | ||||||||||||||||||||||||||||
4370-4383 Lottsford Vista Road | Lanham, MD | — | 279 | 1,358 | 107 | 296 | 1,448 | 1,744 | 399 | 2005 | (j) | ||||||||||||||||||||||||||||
4400 Lottsford Vista Road | Lanham, MD | — | 351 | 1,955 | 206 | 372 | 2,140 | 2,512 | 481 | 2005 | (j) | ||||||||||||||||||||||||||||
4420 Lottsford Vista Road | Lanham, MD | — | 539 | 2,196 | (14 | ) | 568 | 2,153 | 2,721 | 522 | 2005 | (j) | |||||||||||||||||||||||||||
11204 McCormick Road | Hunt Valley, MD | — | 1,017 | 3,132 | (59 | ) | 1,038 | 3,052 | 4,090 | 1,043 | 2005 | (j) | |||||||||||||||||||||||||||
11110 Pepper Road | Hunt Valley, MD | — | 918 | 2,529 | 337 | 938 | 2,846 | 3,784 | 1,070 | 2005 | (j) | ||||||||||||||||||||||||||||
11100-11120 Gilroy Road | Hunt Valley, MD | — | 901 | 1,455 | (55 | ) | 919 | 1,382 | 2,301 | 490 | 2005 | (j) | |||||||||||||||||||||||||||
318 Clubhouse Lane | Hunt Valley, MD | — | 701 | 1,691 | 53 | 718 | 1,727 | 2,445 | 592 | 2005 | (j) | ||||||||||||||||||||||||||||
10709 Gilroy Road | Hunt Valley, MD | 2,436 | 913 | 2,705 | (143 | ) | 913 | 2,562 | 3,475 | 1,030 | 2005 | (j) | |||||||||||||||||||||||||||
10707 Gilroy Road | Hunt Valley, MD | — | 1,111 | 3,819 | 502 | 1,136 | 4,296 | 5,432 | 1,267 | 2005 | (j) | ||||||||||||||||||||||||||||
38 Loveton Circle | Sparks, MD | — | 1,648 | 2,151 | (241 | ) | 1,690 | 1,868 | 3,558 | 642 | 2005 | (j) | |||||||||||||||||||||||||||
7120-7132 Ambassador Road | Baltimore, MD | — | 829 | 1,329 | 1,155 | 847 | 2,466 | 3,313 | 648 | 2005 | (j) | ||||||||||||||||||||||||||||
7142 Ambassador Road | Hunt Valley, MD | — | 924 | 2,876 | 4,274 | 942 | 7,132 | 8,074 | 1,363 | 2005 | (j) | ||||||||||||||||||||||||||||
7144-7162 Ambassador Road | Baltimore, MD | — | 979 | 1,672 | 181 | 1,000 | 1,832 | 2,832 | 613 | 2005 | (j) | ||||||||||||||||||||||||||||
7223-7249 Ambassador Road | Woodlawn, MD | — | 1,283 | 2,674 | 392 | 1,311 | 3,038 | 4,349 | 1,175 | 2005 | (j) | ||||||||||||||||||||||||||||
7200 Rutherford Road | Baltimore, MD | — | 1,032 | 2,150 | 330 | 1,054 | 2,458 | 3,512 | 840 | 2005 | (j) | ||||||||||||||||||||||||||||
2700 Lord Baltimore Road | Baltimore, MD | — | 875 | 1,826 | 740 | 897 | 2,544 | 3,441 | 939 | 2005 | (j) | ||||||||||||||||||||||||||||
1225 Bengies Road | Baltimore, MD | — | 2,640 | 270 | 14,439 | 2,823 | 14,526 | 17,349 | 2,902 | 2008 | (j) | ||||||||||||||||||||||||||||
Central Pennsylvania | |||||||||||||||||||||||||||||||||||||||
1214-B Freedom Road | Cranberry Township, PA | 1,402 | 31 | 994 | 613 | 200 | 1,438 | 1,638 | 1,211 | 1994 | (j) | ||||||||||||||||||||||||||||
401 Russell Drive | Middletown, PA | 1,191 | 262 | 857 | 1,696 | 287 | 2,528 | 2,815 | 1,882 | 1994 | (j) | ||||||||||||||||||||||||||||
2700 Commerce Drive | Middletown, PA | — | 196 | 997 | 935 | 206 | 1,922 | 2,128 | 1,393 | 1994 | (j) | ||||||||||||||||||||||||||||
2701 Commerce Drive | Middletown, PA | 1,937 | 141 | 859 | 1,263 | 164 | 2,099 | 2,263 | 1,384 | 1994 | (j) | ||||||||||||||||||||||||||||
2780 Commerce Drive | Middletown, PA | 1,700 | 113 | 743 | 1,131 | 209 | 1,778 | 1,987 | 1,348 | 1994 | (j) | ||||||||||||||||||||||||||||
350 Old Silver Spring Road | Mechanicsburg, PA | — | 510 | 2,890 | 6,863 | 541 | 9,722 | 10,263 | 3,615 | 1997 | (j) | ||||||||||||||||||||||||||||
16522 Hunters Green Parkway | Hagerstown, MD | 11,893 | 1,390 | 13,104 | 3,948 | 1,863 | 16,579 | 18,442 | 4,302 | 2003 | (j) | ||||||||||||||||||||||||||||
18212 Shawley Drive | Hagerstown, MD | 6,461 | 1,000 | 5,847 | 702 | 1,016 | 6,533 | 7,549 | 1,491 | 2004 | (j) | ||||||||||||||||||||||||||||
37 Valley View Drive | Jessup, PA | 3,046 | 542 | — | 3,017 | 532 | 3,027 | 3,559 | 675 | 2004 | (j) | ||||||||||||||||||||||||||||
301 Railroad Avenue | Shiremanstown, PA | — | 1,181 | 4,447 | 2,647 | 1,328 | 6,947 | 8,275 | 2,606 | 2005 | (j) | ||||||||||||||||||||||||||||
431 Railroad Avenue | Shiremanstown, PA | 8,503 | 1,293 | 7,164 | 1,611 | 1,341 | 8,727 | 10,068 | 3,129 | 2005 | (j) | ||||||||||||||||||||||||||||
6951 Allentown Blvd | Harrisburg, PA | — | 585 | 3,176 | 306 | 601 | 3,466 | 4,067 | 1,045 | 2005 | (j) | ||||||||||||||||||||||||||||
320 Reliance Road | Washington, PA | — | 201 | 1,819 | (283 | ) | 178 | 1,559 | 1,737 | 660 | 2005 | (j) | |||||||||||||||||||||||||||
1351 Eisenhower Blvd., Bldg. 1 | Harrisburg, PA | 1,931 | 382 | 2,343 | 55 | 387 | 2,393 | 2,780 | 752 | 2006 | (j) | ||||||||||||||||||||||||||||
1351 Eisenhower Blvd., Bldg. 2 | Harrisburg, PA | 1,393 | 436 | 1,587 | 7 | 443 | 1,587 | 2,030 | 521 | 2006 | (j) | ||||||||||||||||||||||||||||
1490 Dennison Circle | Carlisle, PA | — | 1,500 | — | 14,234 | 2,341 | 13,393 | 15,734 | 2,527 | 2008 | (j) | ||||||||||||||||||||||||||||
298 First Avenue | Gouldsboro, PA | — | 7,022 | — | 58,462 | 7,019 | 58,465 | 65,484 | 8,269 | 2008 | (j) | ||||||||||||||||||||||||||||
225 Cross Farm Lane | York, PA | 17,796 | 4,718 | — | 23,567 | 4,715 | 23,570 | 28,285 | 3,689 | 2008 | (j) | ||||||||||||||||||||||||||||
105 Steamboat Blvd | Manchester, PA | — | 4,085 | 14,464 | 1 | 4,070 | 14,480 | 18,550 | 1,116 | 2012 | (j) | ||||||||||||||||||||||||||||
20 Leo Lane | York County, PA | — | 6,884 | — | 23,731 | 6,886 | 23,729 | 30,615 | 99 | 2013 | (j) | ||||||||||||||||||||||||||||
Chicago | |||||||||||||||||||||||||||||||||||||||
720-730 Landwehr Drive | Northbrook, IL | — | 521 | 2,982 | 759 | 521 | 3,741 | 4,262 | 1,600 | 1994 | (j) | ||||||||||||||||||||||||||||
1385 101st Street | Lemont, IL | 4,298 | 967 | 5,554 | 1,692 | 968 | 7,245 | 8,213 | 3,151 | 1994 | (j) | ||||||||||||||||||||||||||||
6750 South Sayre Avenue | Bedford Park, IL | — | 224 | 1,309 | 584 | 224 | 1,893 | 2,117 | 862 | 1994 | (j) | ||||||||||||||||||||||||||||
585 Slawin Court | Mount Prospect, IL | — | 611 | 3,505 | 1,697 | 525 | 5,288 | 5,813 | 3,093 | 1994 | (j) | ||||||||||||||||||||||||||||
2300 Windsor Court | Addison, IL | 3,652 | 688 | 3,943 | 1,173 | 696 | 5,108 | 5,804 | 2,492 | 1994 | (j) | ||||||||||||||||||||||||||||
305-311 Era Drive | Northbrook, IL | — | 200 | 1,154 | 1,012 | 205 | 2,161 | 2,366 | 733 | 1994 | (j) | ||||||||||||||||||||||||||||
365 North Avenue | Carol Stream, IL | 6,046 | 1,042 | 6,882 | 2,631 | 1,073 | 9,482 | 10,555 | 4,806 | 1994 | (j) | ||||||||||||||||||||||||||||
11241 Melrose Street | Franklin Park, IL | — | 332 | 1,931 | 44 | 208 | 2,099 | 2,307 | 1,240 | 1995 | (j) | ||||||||||||||||||||||||||||
11939 South Central Avenue | Alsip, IL | — | 1,208 | 6,843 | 2,685 | 1,305 | 9,431 | 10,736 | 3,672 | 1997 | (j) | ||||||||||||||||||||||||||||
1010-50 Sesame Street | Bensenville, IL | — | 979 | 5,546 | 3,998 | 1,048 | 9,475 | 10,523 | 3,211 | 1997 | (j) | ||||||||||||||||||||||||||||
2120-24 Roberts | Broadview, IL | — | 220 | 1,248 | 277 | 231 | 1,514 | 1,745 | 583 | 1998 | (j) | ||||||||||||||||||||||||||||
800 Business Drive | Mount Prospect, IL | — | 631 | 3,493 | 328 | 666 | 3,786 | 4,452 | 1,230 | 2000 | (j) | ||||||||||||||||||||||||||||
580 Slawin Court | Mount Prospect, IL | 818 | 233 | 1,292 | (37 | ) | 162 | 1,326 | 1,488 | 505 | 2000 | (j) | |||||||||||||||||||||||||||
1005 101st Street | Lemont, IL | 6,141 | 1,200 | 6,643 | 918 | 1,220 | 7,541 | 8,761 | 2,406 | 2001 | (j) | ||||||||||||||||||||||||||||
175 Wall Street | Glendale Heights, IL | 1,478 | 427 | 2,363 | 163 | 433 | 2,520 | 2,953 | 799 | 2002 | (j) | ||||||||||||||||||||||||||||
800-820 Thorndale Avenue | Bensenville, IL | — | 751 | 4,159 | 1,464 | 761 | 5,613 | 6,374 | 1,971 | 2002 | (j) | ||||||||||||||||||||||||||||
251 Airport Road | North Aurora, IL | 5,171 | 983 | — | 6,696 | 983 | 6,696 | 7,679 | 1,999 | 2002 | (j) | ||||||||||||||||||||||||||||
1661 Feehanville Drive | Mount Prospect, IL | — | 985 | 5,455 | 2,725 | 1,044 | 8,121 | 9,165 | 2,599 | 2004 | (j) | ||||||||||||||||||||||||||||
400 Crossroads Pkwy | Bolingbrook, IL | — | 1,178 | 9,453 | 1,130 | 1,181 | 10,580 | 11,761 | 3,078 | 2005 | (j) | ||||||||||||||||||||||||||||
7609 W. Industrial Drive | Forest Park, IL | — | 1,207 | 2,343 | 103 | 1,213 | 2,440 | 3,653 | 963 | 2005 | (j) | ||||||||||||||||||||||||||||
7801 W. Industrial Drive | Forest Park, IL | — | 1,215 | 3,020 | 468 | 1,220 | 3,483 | 4,703 | 1,230 | 2005 | (j) | ||||||||||||||||||||||||||||
825 E. 26th Street | LaGrange, IL | — | 1,547 | 2,078 | 2,665 | 1,617 | 4,673 | 6,290 | 2,224 | 2005 | (j) | ||||||||||||||||||||||||||||
725 Kimberly Drive | Carol Stream, IL | — | 793 | 1,395 | 154 | 801 | 1,541 | 2,342 | 505 | 2005 | (j) | ||||||||||||||||||||||||||||
17001 S. Vincennes | Thornton, IL | — | 497 | 504 | 37 | 513 | 525 | 1,038 | 332 | 2005 | (j) | ||||||||||||||||||||||||||||
1111 Davis Road | Elgin, IL | 2,777 | 998 | 1,859 | 1,028 | 1,046 | 2,839 | 3,885 | 1,690 | 2006 | (j) | ||||||||||||||||||||||||||||
2900 W. 166th Street | Markham, IL | — | 1,132 | 4,293 | 723 | 1,134 | 5,014 | 6,148 | 2,093 | 2007 | (j) | ||||||||||||||||||||||||||||
555 W. Algonquin Rd | Arlington Heights, IL | — | 574 | 741 | 1,936 | 579 | 2,672 | 3,251 | 608 | 2007 | (j) | ||||||||||||||||||||||||||||
7000 W. 60th Street | Chicago, IL | — | 609 | 932 | 100 | 667 | 974 | 1,641 | 511 | 2007 | (j) | ||||||||||||||||||||||||||||
9501 Nevada | Franklin Park, IL | — | 2,721 | 5,630 | (199 | ) | 2,737 | 5,415 | 8,152 | 1,182 | 2008 | (j) | |||||||||||||||||||||||||||
1501 Oakton Street | Elk Grove Village, IL | 7,283 | 3,369 | 6,121 | (117 | ) | 3,482 | 5,891 | 9,373 | 1,291 | 2008 | (j) | |||||||||||||||||||||||||||
16500 W. 103rd Street | Woodridge, IL | 2,448 | 744 | 2,458 | 366 | 762 | 2,806 | 3,568 | 738 | 2008 | (j) | ||||||||||||||||||||||||||||
8505 50th Street | Kenosha, WI | — | 3,212 | — | 24,960 | 3,212 | 24,960 | 28,172 | 3,905 | 2008 | (j) | ||||||||||||||||||||||||||||
4100 Rock Creek Blvd | Joliet, IL | — | 4,476 | 16,061 | 77 | 4,476 | 16,138 | 20,614 | 380 | 2013 | (j) | ||||||||||||||||||||||||||||
10100 58th Place | Kenosha, WI | — | 4,201 | 17,604 | 1,363 | 4,201 | 18,967 | 23,168 | 247 | 2013 | (j) | ||||||||||||||||||||||||||||
Cincinnati | |||||||||||||||||||||||||||||||||||||||
9900-9970 Princeton | Cincinnati, OH | 3,743 | 545 | 3,088 | 1,706 | 566 | 4,773 | 5,339 | 1,993 | 1996 | (j) | ||||||||||||||||||||||||||||
2940 Highland | Cincinnati, OH | — | 1,717 | 9,730 | 94 | 952 | 10,589 | 11,541 | 5,167 | 1996 | (j) | ||||||||||||||||||||||||||||
4700-4750 Creek Road | Blue Ash, OH | — | 1,080 | 6,118 | 1,351 | 1,109 | 7,440 | 8,549 | 3,066 | 1996 | (j) | ||||||||||||||||||||||||||||
4436 Muhlhauser Road | Hamilton, OH | 3,715 | 630 | — | 5,276 | 630 | 5,276 | 5,906 | 1,490 | 2002 | (j) | ||||||||||||||||||||||||||||
4438 Muhlhauser Road | Hamilton, OH | 4,575 | 779 | — | 6,517 | 779 | 6,517 | 7,296 | 1,886 | 2002 | (j) | ||||||||||||||||||||||||||||
420 Wards Corner Road | Loveland, OH | — | 600 | 1,083 | 574 | 606 | 1,651 | 2,257 | 515 | 2003 | (j) | ||||||||||||||||||||||||||||
422 Wards Corner Road | Loveland, OH | — | 600 | 1,811 | (137 | ) | 592 | 1,682 | 2,274 | 511 | 2003 | (j) | |||||||||||||||||||||||||||
4663 Dues Drive | Westchester, OH | — | 858 | 2,273 | 543 | 875 | 2,799 | 3,674 | 2,195 | 2005 | (j) | ||||||||||||||||||||||||||||
9345 Princeton-Glendale Road | Westchester, OH | 1,555 | 818 | 1,648 | 380 | 840 | 2,006 | 2,846 | 953 | 2006 | (j) | ||||||||||||||||||||||||||||
9525 Glades Drive | Westchester, OH | — | 347 | 1,323 | 115 | 355 | 1,430 | 1,785 | 485 | 2007 | (j) | ||||||||||||||||||||||||||||
9774-9792 Windisch Road | Westchester, OH | — | 392 | 1,744 | 29 | 394 | 1,771 | 2,165 | 469 | 2007 | (j) | ||||||||||||||||||||||||||||
9808-9830 Windisch Road | Westchester, OH | — | 395 | 2,541 | 47 | 397 | 2,586 | 2,983 | 521 | 2007 | (j) | ||||||||||||||||||||||||||||
9842-9862 Windisch Road | Westchester, OH | — | 506 | 3,148 | 143 | 508 | 3,289 | 3,797 | 710 | 2007 | (j) | ||||||||||||||||||||||||||||
9872-9898 Windisch Road | Westchester, OH | — | 546 | 3,039 | 137 | 548 | 3,174 | 3,722 | 722 | 2007 | (j) | ||||||||||||||||||||||||||||
9902-9922 Windisch Road | Westchester, OH | — | 623 | 4,003 | 694 | 627 | 4,693 | 5,320 | 1,244 | 2007 | (j) | ||||||||||||||||||||||||||||
Cleveland | |||||||||||||||||||||||||||||||||||||||
30311 Emerald Valley Parkway | Glenwillow, OH | 9,320 | 681 | 11,838 | 988 | 691 | 12,816 | 13,507 | 3,523 | 2006 | (j) | ||||||||||||||||||||||||||||
30333 Emerald Valley Parkway | Glenwillow, OH | 4,693 | 466 | 5,447 | 186 | 475 | 5,624 | 6,099 | 1,812 | 2006 | (j) | ||||||||||||||||||||||||||||
7800 Cochran Road | Glenwillow, OH | — | 972 | 7,033 | 337 | 991 | 7,351 | 8,342 | 2,131 | 2006 | (j) | ||||||||||||||||||||||||||||
7900 Cochran Road | Glenwillow, OH | 4,808 | 775 | 6,244 | 10 | 792 | 6,237 | 7,029 | 1,652 | 2006 | (j) | ||||||||||||||||||||||||||||
7905 Cochran Road | Glenwillow, OH | — | 920 | 6,174 | 341 | 921 | 6,514 | 7,435 | 1,913 | 2006 | (j) | ||||||||||||||||||||||||||||
30600 Carter Street | Solon, OH | — | 989 | 3,042 | 652 | 1,022 | 3,661 | 4,683 | 2,139 | 2006 | (j) | ||||||||||||||||||||||||||||
8181 Darrow Road | Twinsburg, OH | 7,100 | 2,478 | 6,791 | 2,016 | 2,496 | 8,789 | 11,285 | 2,805 | 2008 | (j) | ||||||||||||||||||||||||||||
Dallas | |||||||||||||||||||||||||||||||||||||||
2406-2416 Walnut Ridge | Dallas, TX | — | 178 | 1,006 | 633 | 172 | 1,645 | 1,817 | 545 | 1997 | (j) | ||||||||||||||||||||||||||||
2401-2419 Walnut Ridge | Dallas, TX | — | 148 | 839 | 403 | 142 | 1,248 | 1,390 | 398 | 1997 | (j) | ||||||||||||||||||||||||||||
900-906 Great Southwest Pkwy | Arlington, TX | — | 237 | 1,342 | 638 | 270 | 1,947 | 2,217 | 756 | 1997 | (j) | ||||||||||||||||||||||||||||
3000 West Commerce | Dallas, TX | — | 456 | 2,584 | 1,032 | 469 | 3,603 | 4,072 | 1,363 | 1997 | (j) | ||||||||||||||||||||||||||||
3030 Hansboro | Dallas, TX | — | 266 | 1,510 | (664 | ) | 87 | 1,025 | 1,112 | 628 | 1997 | (j) | |||||||||||||||||||||||||||
405-407 113th | Arlington, TX | — | 181 | 1,026 | 588 | 185 | 1,610 | 1,795 | 624 | 1997 | (j) | ||||||||||||||||||||||||||||
816 111th Street | Arlington, TX | 882 | 251 | 1,421 | 195 | 258 | 1,609 | 1,867 | 633 | 1997 | (j) | ||||||||||||||||||||||||||||
7427 Dogwood Park | Richland Hills, TX | — | 96 | 532 | 302 | 102 | 828 | 930 | 274 | 1998 | (j) | ||||||||||||||||||||||||||||
7348-54 Tower Street | Richland Hills, TX | — | 88 | 489 | 213 | 94 | 696 | 790 | 246 | 1998 | (j) | ||||||||||||||||||||||||||||
7339-41 Tower Street | Richland Hills, TX | — | 98 | 541 | 174 | 104 | 709 | 813 | 245 | 1998 | (j) | ||||||||||||||||||||||||||||
7437-45 Tower Street | Richland Hills, TX | — | 102 | 563 | 287 | 108 | 844 | 952 | 268 | 1998 | (j) | ||||||||||||||||||||||||||||
7331-59 Airport Freeway | Richland Hills, TX | 1,669 | 354 | 1,958 | 340 | 372 | 2,280 | 2,652 | 829 | 1998 | (j) | ||||||||||||||||||||||||||||
7338-60 Dogwood Park | Richland Hills, TX | — | 106 | 587 | 244 | 112 | 825 | 937 | 265 | 1998 | (j) | ||||||||||||||||||||||||||||
7450-70 Dogwood Park | Richland Hills, TX | — | 106 | 584 | 99 | 112 | 677 | 789 | 250 | 1998 | (j) | ||||||||||||||||||||||||||||
7423-49 Airport Freeway | Richland Hills, TX | 1,487 | 293 | 1,621 | 449 | 308 | 2,055 | 2,363 | 712 | 1998 | (j) | ||||||||||||||||||||||||||||
7400 Whitehall Street | Richland Hills, TX | — | 109 | 603 | 95 | 115 | 692 | 807 | 249 | 1998 | (j) | ||||||||||||||||||||||||||||
1602-1654 Terre Colony | Dallas, TX | 1,831 | 458 | 2,596 | 822 | 468 | 3,408 | 3,876 | 1,043 | 2000 | (j) | ||||||||||||||||||||||||||||
2351-2355 Merritt Drive | Garland, TX | — | 101 | 574 | 157 | 92 | 740 | 832 | 257 | 2000 | (j) | ||||||||||||||||||||||||||||
2220 Merritt Drive | Garland, TX | — | 352 | 1,993 | 507 | 316 | 2,536 | 2,852 | 896 | 2000 | (j) | ||||||||||||||||||||||||||||
2010 Merritt Drive | Garland, TX | — | 350 | 1,981 | 55 | 318 | 2,068 | 2,386 | 608 | 2000 | (j) | ||||||||||||||||||||||||||||
2363 Merritt Drive | Garland, TX | — | 73 | 412 | 10 | 47 | 448 | 495 | 200 | 2000 | (j) | ||||||||||||||||||||||||||||
2447 Merritt Drive | Garland, TX | — | 70 | 395 | (115 | ) | 23 | 327 | 350 | 190 | 2000 | (j) | |||||||||||||||||||||||||||
2465-2475 Merritt Drive | Garland, TX | — | 91 | 514 | 39 | 71 | 573 | 644 | 206 | 2000 | (j) | ||||||||||||||||||||||||||||
2485-2505 Merritt Drive | Garland, TX | — | 431 | 2,440 | 762 | 426 | 3,207 | 3,633 | 1,055 | 2000 | (j) | ||||||||||||||||||||||||||||
2110 Hutton Drive | Carrolton, TX | — | 374 | 2,117 | 100 | 255 | 2,336 | 2,591 | 717 | 2001 | (j) | ||||||||||||||||||||||||||||
2025 McKenzie Drive | Carrolton, TX | 1,439 | 437 | 2,478 | 130 | 442 | 2,603 | 3,045 | 831 | 2001 | (j) | ||||||||||||||||||||||||||||
2019 McKenzie Drive | Carrolton, TX | 1,734 | 502 | 2,843 | 324 | 507 | 3,162 | 3,669 | 1,031 | 2001 | (j) | ||||||||||||||||||||||||||||
2029-2035 McKenzie Drive | Carrolton, TX | 1,512 | 306 | 1,870 | 236 | 306 | 2,106 | 2,412 | 675 | 2001 | (j) | ||||||||||||||||||||||||||||
2015 McKenzie Drive | Carrolton, TX | 2,527 | 510 | 2,891 | 352 | 516 | 3,237 | 3,753 | 1,015 | 2001 | (j) | ||||||||||||||||||||||||||||
2009 McKenzie Drive | Carrolton, TX | 2,448 | 476 | 2,699 | 460 | 481 | 3,154 | 3,635 | 1,011 | 2001 | (j) | ||||||||||||||||||||||||||||
900-1100 Avenue S | Grand Prairie, TX | 2,577 | 623 | 3,528 | 1,304 | 629 | 4,826 | 5,455 | 1,538 | 2002 | (j) | ||||||||||||||||||||||||||||
Plano Crossing | (f) | Plano, TX | 9,504 | 1,961 | 11,112 | 1,039 | 1,981 | 12,131 | 14,112 | 3,464 | 2002 | (j) | |||||||||||||||||||||||||||
7413A-C Dogwood Park | Richland Hills, TX | — | 110 | 623 | 255 | 111 | 877 | 988 | 265 | 2002 | (j) | ||||||||||||||||||||||||||||
7450 Tower Street | Richland Hills, TX | — | 36 | 204 | 103 | 36 | 307 | 343 | 101 | 2002 | (j) | ||||||||||||||||||||||||||||
7436 Tower Street | Richland Hills, TX | — | 57 | 324 | 196 | 58 | 519 | 577 | 150 | 2002 | (j) | ||||||||||||||||||||||||||||
7426 Tower Street | Richland Hills, TX | — | 76 | 429 | 249 | 76 | 678 | 754 | 230 | 2002 | (j) | ||||||||||||||||||||||||||||
7427-7429 Tower Street | Richland Hills, TX | — | 75 | 427 | 146 | 76 | 572 | 648 | 189 | 2002 | (j) | ||||||||||||||||||||||||||||
2840-2842 Handley Ederville Rd | Richland Hills, TX | — | 112 | 635 | 55 | 113 | 689 | 802 | 192 | 2002 | (j) | ||||||||||||||||||||||||||||
7451-7477 Airport Freeway | Richland Hills, TX | 1,387 | 256 | 1,453 | 495 | 259 | 1,945 | 2,204 | 541 | 2002 | (j) | ||||||||||||||||||||||||||||
7450 Whitehall Street | Richland Hills, TX | — | 104 | 591 | 339 | 105 | 929 | 1,034 | 223 | 2002 | (j) | ||||||||||||||||||||||||||||
3000 Wesley Way | Richland Hills, TX | 907 | 208 | 1,181 | 18 | 211 | 1,196 | 1,407 | 337 | 2002 | (j) | ||||||||||||||||||||||||||||
7451 Dogwood Park | Richland Hills, TX | 671 | 133 | 753 | 184 | 134 | 936 | 1,070 | 224 | 2002 | (j) | ||||||||||||||||||||||||||||
825-827 Avenue H | (d) | Arlington, TX | 2,568 | 600 | 3,006 | 58 | 604 | 3,060 | 3,664 | 1,094 | 2004 | (j) | |||||||||||||||||||||||||||
1013-31 Avenue M | Grand Prairie, TX | — | 300 | 1,504 | 243 | 302 | 1,745 | 2,047 | 527 | 2004 | (j) | ||||||||||||||||||||||||||||
1172-84 113th Street | (d) | Grand Prairie, TX | 1,992 | 700 | 3,509 | 5 | 704 | 3,510 | 4,214 | 1,091 | 2004 | (j) | |||||||||||||||||||||||||||
1200-16 Avenue H | (d) | Arlington, TX | 1,733 | 600 | 2,846 | 222 | 604 | 3,064 | 3,668 | 847 | 2004 | (j) | |||||||||||||||||||||||||||
1322-66 W. North Carrier Parkway | (e) | Grand Prairie, TX | 4,633 | 1,000 | 5,012 | 598 | 1,006 | 5,604 | 6,610 | 1,571 | 2004 | (j) | |||||||||||||||||||||||||||
SCHEDULE III: | |||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||
(b) | (c) | Gross Amount Carried | Year | Depreciable | |||||||||||||||||||||||||||||||||||
Initial Cost | Costs | At Close of Period 12/31/13 | Acquired/ | Lives | |||||||||||||||||||||||||||||||||||
Capitalized | Constructed | (Years) | |||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
Acquisition or | |||||||||||||||||||||||||||||||||||||||
Completion | |||||||||||||||||||||||||||||||||||||||
and Valuation | |||||||||||||||||||||||||||||||||||||||
Building Address | Location | (a) | Land | Building and | Provision | Land | Building and | Total | Accumulated | ||||||||||||||||||||||||||||||
(City/State) | Encumbrances | Improvements | Improvements | Depreciation | |||||||||||||||||||||||||||||||||||
12/31/13 | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||
2401-2407 Centennial Dr | Arlington, TX | 2,107 | 600 | 2,534 | (93 | ) | 604 | 2,437 | 3,041 | 909 | 2004 | (j) | |||||||||||||||||||||||||||
3111 West Commerce Street | Dallas, TX | 3,731 | 1,000 | 3,364 | 517 | 1,011 | 3,870 | 4,881 | 1,201 | 2004 | (j) | ||||||||||||||||||||||||||||
13800 Senlac Drive | Farmers Ranch, TX | 3,399 | 823 | 4,042 | (16 | ) | 825 | 4,024 | 4,849 | 1,204 | 2005 | (j) | |||||||||||||||||||||||||||
801-831 S Great Southwest Pkwy | (g) | Grand Prairie, TX | — | 2,581 | 16,556 | 15 | 2,586 | 16,566 | 19,152 | 6,938 | 2005 | (j) | |||||||||||||||||||||||||||
801 Heinz Way | Grand Prairie, TX | 2,697 | 599 | 3,327 | 360 | 601 | 3,685 | 4,286 | 1,227 | 2005 | (j) | ||||||||||||||||||||||||||||
901-937 Heinz Way | Grand Prairie, TX | 2,065 | 493 | 2,758 | 31 | 481 | 2,801 | 3,282 | 970 | 2005 | (j) | ||||||||||||||||||||||||||||
3301 Century Circle | Irving, TX | 2,173 | 760 | 3,856 | (16 | ) | 771 | 3,829 | 4,600 | 746 | 2007 | (j) | |||||||||||||||||||||||||||
3901 W Miller Road | Garland, TX | — | 1,912 | — | 16,444 | 1,947 | 16,409 | 18,356 | 3,234 | 2008 | (j) | ||||||||||||||||||||||||||||
Denver | |||||||||||||||||||||||||||||||||||||||
4785 Elati | Denver, CO | — | 173 | 981 | 203 | 175 | 1,182 | 1,357 | 448 | 1997 | (j) | ||||||||||||||||||||||||||||
4770 Fox Street | Denver, CO | — | 132 | 750 | 216 | 134 | 964 | 1,098 | 378 | 1997 | (j) | ||||||||||||||||||||||||||||
3851-3871 Revere | Denver, CO | 1,309 | 361 | 2,047 | 363 | 368 | 2,403 | 2,771 | 909 | 1997 | (j) | ||||||||||||||||||||||||||||
4570 Ivy Street | Denver, CO | 1,120 | 219 | 1,239 | 279 | 220 | 1,517 | 1,737 | 587 | 1997 | (j) | ||||||||||||||||||||||||||||
5855 Stapleton Drive North | Denver, CO | 1,398 | 288 | 1,630 | 249 | 290 | 1,877 | 2,167 | 742 | 1997 | (j) | ||||||||||||||||||||||||||||
5885 Stapleton Drive North | Denver, CO | 1,741 | 376 | 2,129 | 195 | 380 | 2,320 | 2,700 | 919 | 1997 | (j) | ||||||||||||||||||||||||||||
5977 North Broadway | Denver, CO | 1,438 | 268 | 1,518 | 500 | 271 | 2,015 | 2,286 | 719 | 1997 | (j) | ||||||||||||||||||||||||||||
5952-5978 North Broadway | Denver, CO | 2,301 | 414 | 2,346 | 898 | 422 | 3,236 | 3,658 | 1,307 | 1997 | (j) | ||||||||||||||||||||||||||||
4721 Ironton Street | Denver, CO | — | 232 | 1,313 | 305 | 236 | 1,614 | 1,850 | 624 | 1997 | (j) | ||||||||||||||||||||||||||||
7003 E 47th Ave Drive | Denver, CO | — | 441 | 2,689 | 16 | 441 | 2,705 | 3,146 | 1,099 | 1997 | (j) | ||||||||||||||||||||||||||||
9500 West 49th Street - A | Wheatridge, CO | — | 283 | 1,625 | 112 | 287 | 1,733 | 2,020 | 762 | 1997 | (j) | ||||||||||||||||||||||||||||
9500 West 49th Street - B | Wheatridge, CO | — | 225 | 1,272 | 132 | 227 | 1,402 | 1,629 | 556 | 1997 | (j) | ||||||||||||||||||||||||||||
9500 West 49th Street - C | Wheatridge, CO | — | 600 | 3,409 | 123 | 601 | 3,531 | 4,132 | 1,460 | 1997 | (j) | ||||||||||||||||||||||||||||
9500 West 49th Street - D | Wheatridge, CO | — | 246 | 1,537 | 390 | 247 | 1,926 | 2,173 | 812 | 1997 | (j) | ||||||||||||||||||||||||||||
451-591 East 124th Avenue | Littleton, CO | — | 383 | 2,145 | 466 | 383 | 2,611 | 2,994 | 989 | 1997 | (j) | ||||||||||||||||||||||||||||
15000 West 6th Avenue | Golden, CO | — | 913 | 5,174 | 1,097 | 918 | 6,266 | 7,184 | 2,593 | 1997 | (j) | ||||||||||||||||||||||||||||
14998 West 6th Avenue Bldg E | Golden, CO | — | 565 | 3,199 | 341 | 570 | 3,535 | 4,105 | 1,370 | 1997 | (j) | ||||||||||||||||||||||||||||
14998 West 6th Avenue Bldg F | Englewood, CO | — | 269 | 1,525 | 96 | 273 | 1,617 | 1,890 | 650 | 1997 | (j) | ||||||||||||||||||||||||||||
6547 South Racine Circle | Englewood, CO | 2,930 | 739 | 4,241 | 346 | 739 | 4,587 | 5,326 | 1,925 | 1997 | (j) | ||||||||||||||||||||||||||||
11701 East 53rd Avenue | Denver, CO | — | 416 | 2,355 | 399 | 422 | 2,748 | 3,170 | 1,041 | 1997 | (j) | ||||||||||||||||||||||||||||
5401 Oswego | Denver, CO | — | 273 | 1,547 | 254 | 278 | 1,796 | 2,074 | 722 | 1997 | (j) | ||||||||||||||||||||||||||||
14818 West 6th Avenue Bldg A | Golden, CO | — | 468 | 2,799 | 131 | 468 | 2,930 | 3,398 | 1,176 | 1997 | (j) | ||||||||||||||||||||||||||||
14828 West 6th Avenue Bldg B | Golden, CO | — | 503 | 2,942 | 386 | 503 | 3,328 | 3,831 | 1,334 | 1997 | (j) | ||||||||||||||||||||||||||||
445 Bryant Street | Denver, CO | 6,904 | 1,829 | 10,219 | 2,564 | 1,829 | 12,783 | 14,612 | 4,935 | 1998 | (j) | ||||||||||||||||||||||||||||
3811 Joliet | Denver, CO | — | 735 | 4,166 | 543 | 752 | 4,692 | 5,444 | 1,802 | 1998 | (j) | ||||||||||||||||||||||||||||
12055 E 49th Ave/4955 Peoria | Denver, CO | — | 298 | 1,688 | 481 | 305 | 2,162 | 2,467 | 802 | 1998 | (j) | ||||||||||||||||||||||||||||
4940-4950 Paris | Denver, CO | — | 152 | 861 | 285 | 156 | 1,142 | 1,298 | 427 | 1998 | (j) | ||||||||||||||||||||||||||||
4970 Paris | Denver, CO | — | 95 | 537 | 101 | 97 | 636 | 733 | 239 | 1998 | (j) | ||||||||||||||||||||||||||||
7367 South Revere Parkway | Englewood, CO | 3,273 | 926 | 5,124 | 877 | 934 | 5,993 | 6,927 | 2,444 | 1998 | (j) | ||||||||||||||||||||||||||||
8200 East Park Meadows Drive | (d) | Lone Tree, CO | — | 1,297 | 7,348 | 1,281 | 1,304 | 8,622 | 9,926 | 2,817 | 2000 | (j) | |||||||||||||||||||||||||||
3250 Quentin Street | (d) | Aurora, CO | — | 1,220 | 6,911 | 937 | 1,230 | 7,838 | 9,068 | 2,612 | 2000 | (j) | |||||||||||||||||||||||||||
Highpoint Bus Ctr B | Littleton, CO | — | 739 | — | 3,500 | 781 | 3,458 | 4,239 | 1,020 | 2000 | (j) | ||||||||||||||||||||||||||||
1130 W. 124th Ave. | Westminster, CO | — | 441 | — | 3,382 | 441 | 3,382 | 3,823 | 1,154 | 2000 | (j) | ||||||||||||||||||||||||||||
1070 W. 124th Ave. | Westminster, CO | — | 374 | — | 2,902 | 374 | 2,902 | 3,276 | 924 | 2000 | (j) | ||||||||||||||||||||||||||||
1020 W. 124th Ave. | Westminster, CO | — | 374 | — | 2,825 | 374 | 2,825 | 3,199 | 859 | 2000 | (j) | ||||||||||||||||||||||||||||
8810 W. 116th Circle | Broomfield, CO | — | 312 | — | 1,462 | 370 | 1,404 | 1,774 | 407 | 2001 | (j) | ||||||||||||||||||||||||||||
960 W. 124th Ave | Westminster, CO | — | 441 | — | 3,432 | 442 | 3,431 | 3,873 | 1,070 | 2001 | (j) | ||||||||||||||||||||||||||||
8820 W. 116th Circle | Broomfield, CO | — | 338 | 1,918 | 317 | 372 | 2,201 | 2,573 | 597 | 2003 | (j) | ||||||||||||||||||||||||||||
8835 W. 116th Circle | Broomfield, CO | — | 1,151 | 6,523 | 1,628 | 1,304 | 7,998 | 9,302 | 2,205 | 2003 | (j) | ||||||||||||||||||||||||||||
18150 E. 32nd Place | Aurora, CO | 1,913 | 563 | 3,188 | 298 | 572 | 3,477 | 4,049 | 1,052 | 2004 | (j) | ||||||||||||||||||||||||||||
3400 Fraser Street | Aurora, CO | 2,111 | 616 | 3,593 | (184 | ) | 620 | 3,405 | 4,025 | 900 | 2005 | (j) | |||||||||||||||||||||||||||
7005 E. 46th Avenue Drive | Denver, CO | 1,448 | 512 | 2,025 | 94 | 517 | 2,114 | 2,631 | 674 | 2005 | (j) | ||||||||||||||||||||||||||||
4001 Salazar Way | Frederick, CO | — | 1,271 | 6,508 | (88 | ) | 1,276 | 6,415 | 7,691 | 1,818 | 2006 | (j) | |||||||||||||||||||||||||||
5909-5915 N. Broadway | Denver, CO | 913 | 495 | 1,268 | 80 | 500 | 1,343 | 1,843 | 514 | 2006 | (j) | ||||||||||||||||||||||||||||
Detroit | |||||||||||||||||||||||||||||||||||||||
1731 Thorncroft | Troy, MI | — | 331 | 1,904 | 189 | 331 | 2,093 | 2,424 | 993 | 1994 | (j) | ||||||||||||||||||||||||||||
47461 Clipper | Plymouth Township, MI | — | 122 | 723 | 54 | 122 | 777 | 899 | 387 | 1994 | (j) | ||||||||||||||||||||||||||||
449 Executive Drive | Troy, MI | — | 125 | 425 | 1,060 | 218 | 1,392 | 1,610 | 1,244 | 1994 | (j) | ||||||||||||||||||||||||||||
501 Executive Drive | Troy, MI | — | 71 | 236 | 610 | 129 | 788 | 917 | 634 | 1994 | (j) | ||||||||||||||||||||||||||||
451 Robbins Drive | Troy, MI | — | 96 | 448 | 877 | 192 | 1,229 | 1,421 | 1,093 | 1994 | (j) | ||||||||||||||||||||||||||||
1416 Meijer Drive | Troy, MI | — | 94 | 394 | 399 | 121 | 766 | 887 | 695 | 1994 | (j) | ||||||||||||||||||||||||||||
1624 Meijer Drive | Troy, MI | — | 236 | 1,406 | 967 | 373 | 2,236 | 2,609 | 1,967 | 1994 | (j) | ||||||||||||||||||||||||||||
1972 Meijer Drive | Troy, MI | — | 315 | 1,301 | 787 | 372 | 2,031 | 2,403 | 1,478 | 1994 | (j) | ||||||||||||||||||||||||||||
1621 Northwood Drive | Troy, MI | — | 85 | 351 | 1,014 | 215 | 1,235 | 1,450 | 1,171 | 1994 | (j) | ||||||||||||||||||||||||||||
1707 Northwood Drive | Troy, MI | — | 95 | 262 | 1,720 | 239 | 1,838 | 2,077 | 1,302 | 1994 | (j) | ||||||||||||||||||||||||||||
1788 Northwood Drive | Troy, MI | — | 50 | 196 | 483 | 103 | 626 | 729 | 564 | 1994 | (j) | ||||||||||||||||||||||||||||
1826 Northwood Drive | Troy, MI | — | 55 | 208 | 472 | 103 | 632 | 735 | 554 | 1994 | (j) | ||||||||||||||||||||||||||||
1864 Northwood Drive | Troy, MI | — | 57 | 190 | 489 | 107 | 629 | 736 | 572 | 1994 | (j) | ||||||||||||||||||||||||||||
2451 Elliott Avenue | Troy, MI | — | 78 | 319 | 742 | 164 | 975 | 1,139 | 781 | 1994 | (j) | ||||||||||||||||||||||||||||
2730 Research Drive | Rochester Hills, MI | — | 903 | 4,215 | 829 | 903 | 5,044 | 5,947 | 3,918 | 1994 | (j) | ||||||||||||||||||||||||||||
2791 Research Drive | Rochester Hills, MI | — | 557 | 2,731 | 1,000 | 560 | 3,728 | 4,288 | 2,360 | 1994 | (j) | ||||||||||||||||||||||||||||
2871 Research Drive | Rochester Hills, MI | — | 324 | 1,487 | 437 | 327 | 1,921 | 2,248 | 1,350 | 1994 | (j) | ||||||||||||||||||||||||||||
3011 Research Drive | Rochester Hills, MI | — | 457 | 2,104 | 475 | 457 | 2,579 | 3,036 | 1,994 | 1994 | (j) | ||||||||||||||||||||||||||||
2870 Technology Drive | Rochester Hills, MI | — | 275 | 1,262 | 342 | 279 | 1,600 | 1,879 | 1,220 | 1994 | (j) | ||||||||||||||||||||||||||||
2900 Technology Drive | Rochester Hills, MI | — | 214 | 977 | 564 | 219 | 1,536 | 1,755 | 970 | 1994 | (j) | ||||||||||||||||||||||||||||
2930 Technology Drive | Rochester Hills, MI | — | 131 | 594 | 435 | 138 | 1,022 | 1,160 | 663 | 1994 | (j) | ||||||||||||||||||||||||||||
2950 Technology Drive | Rochester Hills, MI | — | 178 | 819 | 305 | 185 | 1,117 | 1,302 | 754 | 1994 | (j) | ||||||||||||||||||||||||||||
23014 Commerce Drive | Farmington Hills, MI | — | 39 | 203 | 197 | 56 | 383 | 439 | 318 | 1994 | (j) | ||||||||||||||||||||||||||||
23028 Commerce Drive | Farmington Hills, MI | — | 98 | 507 | 285 | 125 | 765 | 890 | 676 | 1994 | (j) | ||||||||||||||||||||||||||||
23035 Commerce Drive | Farmington Hills, MI | — | 71 | 355 | 237 | 93 | 570 | 663 | 497 | 1994 | (j) | ||||||||||||||||||||||||||||
23042 Commerce Drive | Farmington Hills, MI | — | 67 | 277 | 273 | 89 | 528 | 617 | 477 | 1994 | (j) | ||||||||||||||||||||||||||||
23065 Commerce Drive | Farmington Hills, MI | — | 71 | 408 | 338 | 93 | 724 | 817 | 553 | 1994 | (j) | ||||||||||||||||||||||||||||
23079 Commerce Drive | Farmington Hills, MI | — | 68 | 301 | 290 | 79 | 580 | 659 | 491 | 1994 | (j) | ||||||||||||||||||||||||||||
23093 Commerce Drive | Farmington Hills, MI | — | 211 | 1,024 | 1,219 | 295 | 2,159 | 2,454 | 1,635 | 1994 | (j) | ||||||||||||||||||||||||||||
23135 Commerce Drive | Farmington Hills, MI | — | 146 | 701 | 392 | 158 | 1,081 | 1,239 | 849 | 1994 | (j) | ||||||||||||||||||||||||||||
23163 Commerce Drive | Farmington Hills, MI | — | 111 | 513 | 382 | 138 | 868 | 1,006 | 682 | 1994 | (j) | ||||||||||||||||||||||||||||
23177 Commerce Drive | Farmington Hills, MI | — | 175 | 1,007 | 608 | 254 | 1,536 | 1,790 | 1,239 | 1994 | (j) | ||||||||||||||||||||||||||||
23206 Commerce Drive | Farmington Hills, MI | — | 125 | 531 | 367 | 137 | 886 | 1,023 | 693 | 1994 | (j) | ||||||||||||||||||||||||||||
23370 Commerce Drive | Farmington Hills, MI | — | 59 | 233 | 175 | 66 | 401 | 467 | 374 | 1994 | (j) | ||||||||||||||||||||||||||||
1451 East Lincoln Avenue | Madison Heights, MI | — | 299 | 1,703 | (182 | ) | 148 | 1,672 | 1,820 | 821 | 1995 | (j) | |||||||||||||||||||||||||||
4400 Purks Drive | Auburn Hills, MI | — | 602 | 3,410 | 3,300 | 612 | 6,700 | 7,312 | 2,859 | 1995 | (j) | ||||||||||||||||||||||||||||
32450 N Avis Drive | Madison Heights, MI | — | 281 | 1,590 | 529 | 286 | 2,114 | 2,400 | 963 | 1996 | (j) | ||||||||||||||||||||||||||||
12707 Eckles Road | Plymouth Township, MI | — | 255 | 1,445 | 220 | 267 | 1,653 | 1,920 | 687 | 1996 | (j) | ||||||||||||||||||||||||||||
9300-9328 Harrison Rd | Romulus, MI | — | 147 | 834 | 407 | 159 | 1,229 | 1,388 | 493 | 1996 | (j) | ||||||||||||||||||||||||||||
9330-9358 Harrison Rd | Romulus, MI | — | 81 | 456 | 242 | 89 | 690 | 779 | 270 | 1996 | (j) | ||||||||||||||||||||||||||||
28420-28448 Highland Rd | Romulus, MI | — | 143 | 809 | 641 | 154 | 1,439 | 1,593 | 464 | 1996 | (j) | ||||||||||||||||||||||||||||
28450-28478 Highland Rd | Romulus, MI | — | 81 | 461 | 457 | 90 | 909 | 999 | 314 | 1996 | (j) | ||||||||||||||||||||||||||||
28421-28449 Highland Rd | Romulus, MI | — | 109 | 617 | 480 | 119 | 1,087 | 1,206 | 414 | 1996 | (j) | ||||||||||||||||||||||||||||
28451-28479 Highland Rd | Romulus, MI | — | 107 | 608 | 413 | 117 | 1,011 | 1,128 | 364 | 1996 | (j) | ||||||||||||||||||||||||||||
28825-28909 Highland Rd | Romulus, MI | — | 70 | 395 | 393 | 78 | 780 | 858 | 277 | 1996 | (j) | ||||||||||||||||||||||||||||
28933-29017 Highland Rd | Romulus, MI | — | 112 | 634 | 592 | 122 | 1,216 | 1,338 | 371 | 1996 | (j) | ||||||||||||||||||||||||||||
28824-28908 Highland Rd | Romulus, MI | — | 134 | 760 | 577 | 145 | 1,326 | 1,471 | 472 | 1996 | (j) | ||||||||||||||||||||||||||||
28932-29016 Highland Rd | Romulus, MI | — | 123 | 694 | 582 | 133 | 1,266 | 1,399 | 436 | 1996 | (j) | ||||||||||||||||||||||||||||
9710-9734 Harrison Rd | Romulus, MI | — | 125 | 706 | 432 | 135 | 1,128 | 1,263 | 425 | 1996 | (j) | ||||||||||||||||||||||||||||
9740-9772 Harrison Rd | Romulus, MI | — | 132 | 749 | 398 | 143 | 1,136 | 1,279 | 441 | 1996 | (j) | ||||||||||||||||||||||||||||
9840-9868 Harrison Rd | Romulus, MI | — | 144 | 815 | 296 | 155 | 1,100 | 1,255 | 429 | 1996 | (j) | ||||||||||||||||||||||||||||
9800-9824 Harrison Rd | Romulus, MI | — | 117 | 664 | 362 | 127 | 1,016 | 1,143 | 362 | 1996 | (j) | ||||||||||||||||||||||||||||
29265-29285 Airport Dr | Romulus, MI | — | 140 | 794 | 258 | 151 | 1,041 | 1,192 | 431 | 1996 | (j) | ||||||||||||||||||||||||||||
29185-29225 Airport Dr | Romulus, MI | — | 140 | 792 | 514 | 151 | 1,295 | 1,446 | 519 | 1996 | (j) | ||||||||||||||||||||||||||||
29149-29165 Airport Dr | Romulus, MI | — | 216 | 1,225 | 295 | 231 | 1,505 | 1,736 | 629 | 1996 | (j) | ||||||||||||||||||||||||||||
29101-29115 Airport Dr | Romulus, MI | — | 130 | 738 | 290 | 141 | 1,017 | 1,158 | 440 | 1996 | (j) | ||||||||||||||||||||||||||||
29031-29045 Airport Dr | Romulus, MI | — | 124 | 704 | 157 | 134 | 851 | 985 | 345 | 1996 | (j) | ||||||||||||||||||||||||||||
29050-29062 Airport Dr | Romulus, MI | — | 127 | 718 | 221 | 137 | 929 | 1,066 | 386 | 1996 | (j) | ||||||||||||||||||||||||||||
29120-29134 Airport Dr | Romulus, MI | — | 161 | 912 | 522 | 173 | 1,422 | 1,595 | 503 | 1996 | (j) | ||||||||||||||||||||||||||||
29200-29214 Airport Dr | Romulus, MI | — | 170 | 963 | 376 | 182 | 1,327 | 1,509 | 555 | 1996 | (j) | ||||||||||||||||||||||||||||
9301-9339 Middlebelt Rd | Romulus, MI | — | 124 | 703 | 481 | 130 | 1,178 | 1,308 | 504 | 1996 | (j) | ||||||||||||||||||||||||||||
32975 Capitol Avenue | Livonia, MI | — | 135 | 748 | (183 | ) | 77 | 623 | 700 | 291 | 1998 | (j) | |||||||||||||||||||||||||||
32920 Capitol Avenue | Livonia, MI | — | 76 | 422 | (91 | ) | 27 | 380 | 407 | 197 | 1998 | (j) | |||||||||||||||||||||||||||
11923 Brookfield Avenue | Livonia, MI | — | 120 | 665 | (324 | ) | 32 | 429 | 461 | 281 | 1998 | (j) | |||||||||||||||||||||||||||
13405 Stark Road | Livonia, MI | — | 46 | 254 | (3 | ) | 30 | 267 | 297 | 127 | 1998 | (j) | |||||||||||||||||||||||||||
450 Robbins Drive | Troy, MI | — | 166 | 920 | 231 | 178 | 1,139 | 1,317 | 433 | 1998 | (j) | ||||||||||||||||||||||||||||
12886 Westmore Avenue | Livonia, MI | — | 190 | 1,050 | (351 | ) | 86 | 803 | 889 | 424 | 1998 | (j) | |||||||||||||||||||||||||||
33025 Industrial Road | Livonia, MI | — | 80 | 442 | (324 | ) | 6 | 192 | 198 | 168 | 1998 | (j) | |||||||||||||||||||||||||||
47711 Clipper Street | Plymouth Township, MI | — | 539 | 2,983 | 299 | 575 | 3,246 | 3,821 | 1,255 | 1998 | (j) | ||||||||||||||||||||||||||||
32975 Industrial Road | Livonia, MI | — | 160 | 887 | (192 | ) | 92 | 763 | 855 | 365 | 1998 | (j) | |||||||||||||||||||||||||||
32985 Industrial Road | Livonia, MI | — | 137 | 761 | (329 | ) | 46 | 523 | 569 | 303 | 1998 | (j) | |||||||||||||||||||||||||||
32995 Industrial Road | Livonia, MI | — | 160 | 887 | (409 | ) | 53 | 585 | 638 | 349 | 1998 | (j) | |||||||||||||||||||||||||||
12874 Westmore Avenue | Livonia, MI | — | 137 | 761 | (302 | ) | 58 | 538 | 596 | 289 | 1998 | (j) | |||||||||||||||||||||||||||
1775 Bellingham | Troy, MI | — | 344 | 1,902 | 329 | 367 | 2,208 | 2,575 | 835 | 1998 | (j) | ||||||||||||||||||||||||||||
1785 East Maple | Troy, MI | — | 92 | 507 | 200 | 98 | 701 | 799 | 237 | 1998 | (j) | ||||||||||||||||||||||||||||
1807 East Maple | Troy, MI | — | 321 | 1,775 | (437 | ) | 191 | 1,468 | 1,659 | 692 | 1998 | (j) | |||||||||||||||||||||||||||
980 Chicago | Troy, MI | — | 206 | 1,141 | 272 | 220 | 1,399 | 1,619 | 498 | 1998 | (j) | ||||||||||||||||||||||||||||
1840 Enterprise Drive | Rochester Hills, MI | — | 573 | 3,170 | (2,261 | ) | 49 | 1,433 | 1,482 | 1,176 | 1998 | (j) | |||||||||||||||||||||||||||
1885 Enterprise Drive | Rochester Hills, MI | — | 209 | 1,158 | 200 | 223 | 1,344 | 1,567 | 498 | 1998 | (j) | ||||||||||||||||||||||||||||
1935-55 Enterprise Drive | Rochester Hills, MI | — | 1,285 | 7,144 | 1,352 | 1,371 | 8,410 | 9,781 | 3,318 | 1998 | (j) | ||||||||||||||||||||||||||||
5500 Enterprise Court | Warren, MI | — | 675 | 3,737 | 671 | 721 | 4,362 | 5,083 | 1,636 | 1998 | (j) | ||||||||||||||||||||||||||||
750 Chicago Road | Troy, MI | — | 323 | 1,790 | 373 | 345 | 2,141 | 2,486 | 824 | 1998 | (j) | ||||||||||||||||||||||||||||
800 Chicago Road | Troy, MI | — | 283 | 1,567 | 370 | 302 | 1,918 | 2,220 | 713 | 1998 | (j) | ||||||||||||||||||||||||||||
850 Chicago Road | Troy, MI | — | 183 | 1,016 | 218 | 196 | 1,221 | 1,417 | 462 | 1998 | (j) | ||||||||||||||||||||||||||||
1100 East Mandoline Road | Madison Heights, MI | — | 888 | 4,915 | (1,234 | ) | 332 | 4,237 | 4,569 | 2,211 | 1998 | (j) | |||||||||||||||||||||||||||
1080, 1120, 1180 John Papalas Drive | (e) | Lincoln Park, MI | — | 366 | 3,241 | 356 | 297 | 3,666 | 3,963 | 1,756 | 1998 | (j) | |||||||||||||||||||||||||||
4872 S. Lapeer Road | Lake Orion Twsp, MI | — | 1,342 | 5,441 | 1,208 | 1,412 | 6,579 | 7,991 | 2,350 | 1999 | (j) | ||||||||||||||||||||||||||||
22701 Trolley Industrial | Taylor, MI | — | 795 | — | 7,166 | 849 | 7,112 | 7,961 | 2,252 | 1999 | (j) | ||||||||||||||||||||||||||||
1400 Allen Drive | Troy, MI | — | 209 | 1,154 | 213 | 212 | 1,364 | 1,576 | 419 | 2000 | (j) | ||||||||||||||||||||||||||||
1408 Allen Drive | Troy, MI | — | 151 | 834 | 110 | 153 | 942 | 1,095 | 289 | 2000 | (j) | ||||||||||||||||||||||||||||
32505 Industrial Drive | Madison Heights, MI | — | 345 | 1,910 | 340 | 351 | 2,244 | 2,595 | 847 | 2000 | (j) | ||||||||||||||||||||||||||||
1799-1855 Northfield Drive | (d) | Rochester Hills, MI | — | 481 | 2,665 | 367 | 490 | 3,023 | 3,513 | 976 | 2000 | (j) | |||||||||||||||||||||||||||
28435 Automation Blvd | Wixom, MI | — | 621 | — | 3,662 | 628 | 3,655 | 4,283 | 827 | 2004 | (j) | ||||||||||||||||||||||||||||
32200 N Avis Drive | Madison Heights, MI | — | 503 | 3,367 | (1,376 | ) | 195 | 2,299 | 2,494 | 857 | 2005 | (j) | |||||||||||||||||||||||||||
100 Kay Industrial Drive | Rion Township, MI | — | 677 | 2,018 | 78 | 685 | 2,088 | 2,773 | 741 | 2005 | (j) | ||||||||||||||||||||||||||||
11800 Sears Drive | Livonia, MI | — | 693 | 1,507 | 1,195 | 476 | 2,919 | 3,395 | 1,304 | 2005 | (j) | ||||||||||||||||||||||||||||
1099 Chicago Road | Troy, MI | — | 1,277 | 1,332 | (1,291 | ) | 303 | 1,015 | 1,318 | 239 | 2005 | (j) | |||||||||||||||||||||||||||
42555 Merrill Road | Sterling Heights, MI | — | 1,080 | 2,300 | 3,487 | 1,090 | 5,777 | 6,867 | 1,759 | 2006 | (j) | ||||||||||||||||||||||||||||
200 Northpointe Drive | Orion Township, MI | — | 723 | 2,063 | 36 | 734 | 2,088 | 2,822 | 775 | 2006 | (j) | ||||||||||||||||||||||||||||
Houston | |||||||||||||||||||||||||||||||||||||||
2102-2314 Edwards Street | Houston, TX | — | 348 | 1,973 | 1,708 | 382 | 3,647 | 4,029 | 1,241 | 1997 | (j) | ||||||||||||||||||||||||||||
3351 Rauch St | Houston, TX | — | 272 | 1,541 | 497 | 278 | 2,032 | 2,310 | 709 | 1997 | (j) | ||||||||||||||||||||||||||||
3801-3851 Yale St | Houston, TX | 2,000 | 413 | 2,343 | 435 | 425 | 2,766 | 3,191 | 1,117 | 1997 | (j) | ||||||||||||||||||||||||||||
3337-3347 Rauch Street | Houston, TX | — | 227 | 1,287 | 454 | 233 | 1,735 | 1,968 | 617 | 1997 | (j) | ||||||||||||||||||||||||||||
8505 N Loop East | Houston, TX | 1,679 | 439 | 2,489 | 626 | 449 | 3,105 | 3,554 | 1,183 | 1997 | (j) | ||||||||||||||||||||||||||||
4749-4799 Eastpark Dr | Houston, TX | 2,481 | 594 | 3,368 | 1,290 | 611 | 4,641 | 5,252 | 1,741 | 1997 | (j) | ||||||||||||||||||||||||||||
4851 Homestead Road | Houston, TX | 3,264 | 491 | 2,782 | 1,573 | 504 | 4,342 | 4,846 | 1,560 | 1997 | (j) | ||||||||||||||||||||||||||||
3365-3385 Rauch Street | Houston, TX | 1,613 | 284 | 1,611 | 677 | 290 | 2,282 | 2,572 | 936 | 1997 | (j) | ||||||||||||||||||||||||||||
5050 Campbell Road | Houston, TX | 1,928 | 461 | 2,610 | 1,009 | 470 | 3,610 | 4,080 | 1,200 | 1997 | (j) | ||||||||||||||||||||||||||||
4300 Pine Timbers | Houston, TX | 2,804 | 489 | 2,769 | 741 | 499 | 3,500 | 3,999 | 1,369 | 1997 | (j) | ||||||||||||||||||||||||||||
2500-2530 Fairway Park Drive | Houston, TX | 3,371 | 766 | 4,342 | 2,027 | 792 | 6,343 | 7,135 | 2,290 | 1997 | (j) | ||||||||||||||||||||||||||||
6550 Longpointe | Houston, TX | 1,617 | 362 | 2,050 | 1,010 | 370 | 3,052 | 3,422 | 1,000 | 1997 | (j) | ||||||||||||||||||||||||||||
1815 Turning Basin Dr | Houston, TX | 1,859 | 487 | 2,761 | 687 | 531 | 3,404 | 3,935 | 1,337 | 1997 | (j) | ||||||||||||||||||||||||||||
1819 Turning Basin Dr | Houston, TX | — | 231 | 1,308 | 543 | 251 | 1,831 | 2,082 | 697 | 1997 | (j) | ||||||||||||||||||||||||||||
1805 Turning Basin Dr | Houston, TX | 2,203 | 564 | 3,197 | 902 | 616 | 4,047 | 4,663 | 1,599 | 1997 | (j) | ||||||||||||||||||||||||||||
9835A Genard Road | Houston, TX | — | 1,505 | 8,333 | 3,162 | 1,581 | 11,419 | 13,000 | 3,629 | 1999 | (j) | ||||||||||||||||||||||||||||
9835B Genard Road | Houston, TX | — | 245 | 1,357 | 827 | 256 | 2,173 | 2,429 | 788 | 1999 | (j) | ||||||||||||||||||||||||||||
11505 State Highway 225 | LaPorte City, TX | 4,639 | 940 | 4,675 | 606 | 940 | 5,281 | 6,221 | 1,658 | 2005 | (j) | ||||||||||||||||||||||||||||
1500 E. Main Street | Houston, TX | — | 201 | 1,328 | (26 | ) | 204 | 1,299 | 1,503 | 765 | 2005 | (j) | |||||||||||||||||||||||||||
700 Industrial Blvd | Sugar Land, TX | 3,162 | 608 | 3,679 | 259 | 617 | 3,929 | 4,546 | 1,019 | 2007 | (j) | ||||||||||||||||||||||||||||
7230-7238 Wynnwood | Houston, TX | — | 254 | 764 | 152 | 259 | 911 | 1,170 | 315 | 2007 | (j) | ||||||||||||||||||||||||||||
7240-7248 Wynnwood | Houston, TX | — | 271 | 726 | 27 | 276 | 748 | 1,024 | 289 | 2007 | (j) | ||||||||||||||||||||||||||||
SCHEDULE III: | |||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||
(b) | (c) | Gross Amount Carried | Year | Depreciable | |||||||||||||||||||||||||||||||||||
Initial Cost | Costs | At Close of Period 12/31/13 | Acquired/ | Lives | |||||||||||||||||||||||||||||||||||
Capitalized | Constructed | (Years) | |||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
Acquisition or | |||||||||||||||||||||||||||||||||||||||
Completion | |||||||||||||||||||||||||||||||||||||||
and Valuation | |||||||||||||||||||||||||||||||||||||||
Building Address | Location | (a) | Land | Building and | Provision | Land | Building and | Total | Accumulated | ||||||||||||||||||||||||||||||
(City/State) | Encumbrances | Improvements | Improvements | Depreciation | |||||||||||||||||||||||||||||||||||
12/31/13 | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||
7250-7260 Wynnwood | Houston, TX | — | 200 | 481 | 115 | 203 | 593 | 796 | 191 | 2007 | (j) | ||||||||||||||||||||||||||||
6400 Long Point | Houston, TX | — | 188 | 898 | (87 | ) | 188 | 811 | 999 | 248 | 2007 | (j) | |||||||||||||||||||||||||||
12705 S. Kirkwood, Ste 100-150 | Stafford, TX | — | 154 | 626 | 80 | 155 | 705 | 860 | 215 | 2007 | (j) | ||||||||||||||||||||||||||||
12705 S. Kirkwood, Ste 200-220 | Stafford, TX | — | 404 | 1,698 | 282 | 393 | 1,991 | 2,384 | 643 | 2007 | (j) | ||||||||||||||||||||||||||||
8850 Jameel | Houston, TX | — | 171 | 826 | 41 | 171 | 867 | 1,038 | 289 | 2007 | (j) | ||||||||||||||||||||||||||||
8800 Jameel | Houston, TX | — | 163 | 798 | (105 | ) | 124 | 732 | 856 | 249 | 2007 | (j) | |||||||||||||||||||||||||||
8700 Jameel | Houston, TX | — | 170 | 1,020 | (265 | ) | 120 | 805 | 925 | 201 | 2007 | (j) | |||||||||||||||||||||||||||
8600 Jameel | Houston, TX | — | 163 | 818 | 58 | 163 | 876 | 1,039 | 280 | 2007 | (j) | ||||||||||||||||||||||||||||
7967 Blankenship | Houston, TX | — | 307 | 1,166 | 335 | 307 | 1,501 | 1,808 | 278 | 2010 | (j) | ||||||||||||||||||||||||||||
8800 City Park Loop East | Houston, TX | 23,585 | 3,717 | 19,237 | — | 3,717 | 19,237 | 22,954 | 2,570 | 2011 | (j) | ||||||||||||||||||||||||||||
Indianapolis | |||||||||||||||||||||||||||||||||||||||
2900 N Shadeland Avenue | Indianapolis, IN | — | 2,057 | 13,565 | 3,267 | 2,057 | 16,832 | 18,889 | 6,969 | 1996 | (j) | ||||||||||||||||||||||||||||
1445 Brookville Way | Indianapolis, IN | — | 459 | 2,603 | 1,007 | 476 | 3,593 | 4,069 | 1,476 | 1996 | (j) | ||||||||||||||||||||||||||||
1440 Brookville Way | Indianapolis, IN | 3,521 | 665 | 3,770 | 588 | 685 | 4,338 | 5,023 | 1,914 | 1996 | (j) | ||||||||||||||||||||||||||||
1240 Brookville Way | Indianapolis, IN | — | 247 | 1,402 | 369 | 258 | 1,760 | 2,018 | 792 | 1996 | (j) | ||||||||||||||||||||||||||||
1345 Brookville Way | Indianapolis, IN | — | 586 | 3,321 | 794 | 601 | 4,100 | 4,701 | 1,756 | 1996 | (j) | ||||||||||||||||||||||||||||
1350 Brookville Way | Indianapolis, IN | — | 205 | 1,161 | 310 | 212 | 1,464 | 1,676 | 681 | 1996 | (j) | ||||||||||||||||||||||||||||
1341 Sadlier Circle South | Indianapolis, IN | — | 131 | 743 | 198 | 136 | 936 | 1,072 | 386 | 1996 | (j) | ||||||||||||||||||||||||||||
1322-1438 Sadlier Circle East | Indianapolis, IN | — | 145 | 822 | 301 | 152 | 1,116 | 1,268 | 479 | 1996 | (j) | ||||||||||||||||||||||||||||
1327-1441 Sadlier Circle West | Indianapolis, IN | — | 218 | 1,234 | 558 | 225 | 1,785 | 2,010 | 674 | 1996 | (j) | ||||||||||||||||||||||||||||
1304 Sadlier Circle West | Indianapolis, IN | — | 71 | 405 | 189 | 75 | 590 | 665 | 261 | 1996 | (j) | ||||||||||||||||||||||||||||
1402-1430 Sadlier Circle West | Indianapolis, IN | — | 165 | 934 | 371 | 171 | 1,299 | 1,470 | 535 | 1996 | (j) | ||||||||||||||||||||||||||||
1504 Sadlier Circle South | Indianapolis, IN | — | 219 | 1,238 | (112 | ) | 115 | 1,230 | 1,345 | 701 | 1996 | (j) | |||||||||||||||||||||||||||
1365-1367 Sadlier Way Circle East | Indianapolis, IN | — | 121 | 688 | 136 | 91 | 854 | 945 | 351 | 1996 | (j) | ||||||||||||||||||||||||||||
1352-1354 Sadlier Circle West | Indianapolis, IN | — | 178 | 1,008 | 187 | 166 | 1,207 | 1,373 | 508 | 1996 | (j) | ||||||||||||||||||||||||||||
1335 Sadlier Circle East | Indianapolis, IN | — | 81 | 460 | 197 | 85 | 653 | 738 | 260 | 1996 | (j) | ||||||||||||||||||||||||||||
1425 Sadlier Circle West | Indianapolis, IN | — | 21 | 117 | 37 | 23 | 152 | 175 | 67 | 1996 | (j) | ||||||||||||||||||||||||||||
6951 East 30th St | Indianapolis, IN | — | 256 | 1,449 | 213 | 265 | 1,653 | 1,918 | 707 | 1996 | (j) | ||||||||||||||||||||||||||||
6701 East 30th St | Indianapolis, IN | — | 78 | 443 | 98 | 82 | 537 | 619 | 229 | 1996 | (j) | ||||||||||||||||||||||||||||
6737 East 30th St | Indianapolis, IN | 1,738 | 385 | 2,181 | 195 | 398 | 2,363 | 2,761 | 1,046 | 1996 | (j) | ||||||||||||||||||||||||||||
6555 East 30th St | Indianapolis, IN | — | 484 | 4,760 | 1,971 | 484 | 6,731 | 7,215 | 2,630 | 1996 | (j) | ||||||||||||||||||||||||||||
8402-8440 E 33rd St | Indianapolis, IN | — | 222 | 1,260 | 603 | 230 | 1,855 | 2,085 | 812 | 1996 | (j) | ||||||||||||||||||||||||||||
8520-8630 E 33rd St | Indianapolis, IN | — | 326 | 1,848 | 270 | 281 | 2,163 | 2,444 | 926 | 1996 | (j) | ||||||||||||||||||||||||||||
8710-8768 E 33rd St | Indianapolis, IN | — | 175 | 993 | 397 | 180 | 1,385 | 1,565 | 538 | 1996 | (j) | ||||||||||||||||||||||||||||
3316-3346 N. Pagosa Court | Indianapolis, IN | — | 325 | 1,842 | 458 | 332 | 2,293 | 2,625 | 921 | 1996 | (j) | ||||||||||||||||||||||||||||
7901 West 21st St. | Indianapolis, IN | 5,128 | 1,048 | 6,027 | 240 | 1,048 | 6,267 | 7,315 | 2,531 | 1997 | (j) | ||||||||||||||||||||||||||||
1225 Brookville Way | Indianapolis, IN | — | 60 | — | 416 | 68 | 408 | 476 | 166 | 1997 | (j) | ||||||||||||||||||||||||||||
6751 E 30th St | Indianapolis, IN | 2,391 | 728 | 2,837 | 235 | 741 | 3,059 | 3,800 | 1,213 | 1997 | (j) | ||||||||||||||||||||||||||||
6575 East 30th Street | Indianapolis, IN | 1,880 | 118 | — | 2,079 | 128 | 2,069 | 2,197 | 839 | 1998 | (j) | ||||||||||||||||||||||||||||
6585 East 30th Street | Indianapolis, IN | 2,875 | 196 | — | 3,163 | 196 | 3,163 | 3,359 | 1,193 | 1998 | (j) | ||||||||||||||||||||||||||||
5705-97 Park Plaza Ct. | Indianapolis, IN | 2,517 | 600 | 2,194 | 797 | 609 | 2,982 | 3,591 | 935 | 2003 | (j) | ||||||||||||||||||||||||||||
9319-9341 Castlegate Drive | Indianapolis, IN | — | 530 | 1,235 | 690 | 544 | 1,911 | 2,455 | 578 | 2003 | (j) | ||||||||||||||||||||||||||||
1133 Northwest L Street | Richmond, IN | — | 201 | 1,358 | (195 | ) | 208 | 1,156 | 1,364 | 561 | 2006 | (j) | |||||||||||||||||||||||||||
14425 Bergen Blvd | Noblesville, IN | — | 647 | — | 3,455 | 743 | 3,359 | 4,102 | 512 | 2007 | (j) | ||||||||||||||||||||||||||||
Miami | |||||||||||||||||||||||||||||||||||||||
4700 NW 15th Avenue | Ft. Lauderdale, FL | — | 908 | 1,883 | 256 | 912 | 2,135 | 3,047 | 662 | 2007 | (j) | ||||||||||||||||||||||||||||
4710 NW 15th Avenue | Ft. Lauderdale, FL | — | 830 | 2,722 | 260 | 834 | 2,978 | 3,812 | 733 | 2007 | (j) | ||||||||||||||||||||||||||||
4720 NW 15th Avenue | Ft. Lauderdale, FL | — | 937 | 2,455 | 456 | 942 | 2,906 | 3,848 | 755 | 2007 | (j) | ||||||||||||||||||||||||||||
4740 NW 15th Avenue | Ft. Lauderdale, FL | — | 1,107 | 3,111 | 320 | 1,112 | 3,426 | 4,538 | 820 | 2007 | (j) | ||||||||||||||||||||||||||||
4750 NW 15th Avenue | Ft. Lauderdale, FL | — | 947 | 3,079 | 785 | 951 | 3,860 | 4,811 | 1,075 | 2007 | (j) | ||||||||||||||||||||||||||||
4800 NW 15th Avenue | Ft. Lauderdale, FL | — | 1,092 | 3,308 | 238 | 1,097 | 3,541 | 4,638 | 898 | 2007 | (j) | ||||||||||||||||||||||||||||
6891 NW 74th Street | Medley, FL | — | 857 | 3,428 | 3,986 | 864 | 7,407 | 8,271 | 1,346 | 2007 | (j) | ||||||||||||||||||||||||||||
12601 &12605 NW 115th Avenue | Medley, FL | — | 2,521 | — | 651 | 828 | 2,344 | 3,172 | 247 | 2008 | (j) | ||||||||||||||||||||||||||||
Milwaukee | |||||||||||||||||||||||||||||||||||||||
N25 W23255 Paul Road | Pewaukee, WI | 2,705 | 569 | 3,270 | 1,832 | 450 | 5,221 | 5,671 | 1,613 | 1994 | (j) | ||||||||||||||||||||||||||||
5355 South Westridge Drive | New Berlin, WI | 5,334 | 1,630 | 7,058 | (108 | ) | 1,646 | 6,934 | 8,580 | 1,481 | 2004 | (j) | |||||||||||||||||||||||||||
320-334 W. Vogel Avenue | Milwaukee, WI | 2,731 | 506 | 3,199 | (189 | ) | 508 | 3,008 | 3,516 | 1,312 | 2005 | (j) | |||||||||||||||||||||||||||
4950 South 6th Avenue | Milwaukee, WI | 1,491 | 299 | 1,565 | 263 | 301 | 1,826 | 2,127 | 880 | 2005 | (j) | ||||||||||||||||||||||||||||
17005 W. Ryerson Road | New Berlin, WI | 2,971 | 403 | 3,647 | 245 | 405 | 3,890 | 4,295 | 1,346 | 2005 | (j) | ||||||||||||||||||||||||||||
W140 N9059 Lilly Road | Menomonee Falls, WI | — | 343 | 1,153 | 99 | 366 | 1,229 | 1,595 | 361 | 2005 | (j) | ||||||||||||||||||||||||||||
200 W. Vogel Avenue-Bldg B | Milwaukee, WI | 1,689 | 301 | 2,150 | (42 | ) | 302 | 2,107 | 2,409 | 916 | 2005 | (j) | |||||||||||||||||||||||||||
4921 S. 2nd Street | Milwaukee, WI | — | 101 | 713 | (214 | ) | 58 | 542 | 600 | 272 | 2005 | (j) | |||||||||||||||||||||||||||
1500 Peebles Drive | Richland Center, WI | — | 1,577 | 1,018 | (278 | ) | 1,528 | 789 | 2,317 | 640 | 2005 | (j) | |||||||||||||||||||||||||||
16600 West Glendale Ave | New Berlin, WI | 2,360 | 704 | 1,923 | 877 | 715 | 2,789 | 3,504 | 1,286 | 2006 | (j) | ||||||||||||||||||||||||||||
2905 S. 160th Street | New Berlin, WI | — | 261 | 672 | 346 | 265 | 1,014 | 1,279 | 395 | 2007 | (j) | ||||||||||||||||||||||||||||
2855 S. 160th Street | New Berlin, WI | — | 221 | 628 | 120 | 225 | 744 | 969 | 244 | 2007 | (j) | ||||||||||||||||||||||||||||
2485 Commerce Drive | New Berlin, WI | 1,514 | 483 | 1,516 | 249 | 491 | 1,757 | 2,248 | 748 | 2007 | (j) | ||||||||||||||||||||||||||||
14518 Whittaker Way | Menomonee Falls, WI | — | 437 | 1,082 | 396 | 445 | 1,470 | 1,915 | 456 | 2007 | (j) | ||||||||||||||||||||||||||||
N58W15380 Shawn Circle | Menomonee Falls, WI | — | 1,188 | — | 16,949 | 1,204 | 16,933 | 18,137 | 2,473 | 2008 | (j) | ||||||||||||||||||||||||||||
Minneapolis/St. Paul | |||||||||||||||||||||||||||||||||||||||
6201 West 111th Street | Bloomington, MN | 3,627 | 1,358 | 8,622 | 13,463 | 1,519 | 21,924 | 23,443 | 10,288 | 1994 | (j) | ||||||||||||||||||||||||||||
7251-7267 Washington Avenue | Edina, MN | — | 129 | 382 | 733 | 182 | 1,062 | 1,244 | 787 | 1994 | (j) | ||||||||||||||||||||||||||||
7301-7325 Washington Avenue | Edina, MN | — | 174 | 391 | (1 | ) | 193 | 371 | 564 | 104 | 1994 | (j) | |||||||||||||||||||||||||||
7101 Winnetka Avenue South | Brooklyn Park, MN | 5,765 | 2,195 | 6,084 | 3,923 | 2,228 | 9,974 | 12,202 | 6,834 | 1994 | (j) | ||||||||||||||||||||||||||||
9901 West 74th Street | Eden Prairie, MN | 3,306 | 621 | 3,289 | 3,089 | 639 | 6,360 | 6,999 | 5,278 | 1994 | (j) | ||||||||||||||||||||||||||||
1030 Lone Oak Road | Eagan, MN | 2,560 | 456 | 2,703 | 642 | 456 | 3,345 | 3,801 | 1,489 | 1994 | (j) | ||||||||||||||||||||||||||||
1060 Lone Oak Road | Eagan, MN | 3,290 | 624 | 3,700 | 560 | 624 | 4,260 | 4,884 | 1,985 | 1994 | (j) | ||||||||||||||||||||||||||||
5400 Nathan Lane | Plymouth, MN | 2,850 | 749 | 4,461 | 822 | 757 | 5,275 | 6,032 | 2,481 | 1994 | (j) | ||||||||||||||||||||||||||||
6655 Wedgwood Road | Maple Grove, MN | 6,316 | 1,466 | 8,342 | 3,436 | 1,466 | 11,778 | 13,244 | 5,104 | 1994 | (j) | ||||||||||||||||||||||||||||
10120 W 76th Street | Eden Prairie, MN | — | 315 | 1,804 | 1,876 | 315 | 3,680 | 3,995 | 1,748 | 1995 | (j) | ||||||||||||||||||||||||||||
12155 Nicollet Ave. | Burnsville, MN | — | 286 | — | 1,827 | 288 | 1,825 | 2,113 | 796 | 1995 | (j) | ||||||||||||||||||||||||||||
4100 Peavey Road | Chaska, MN | — | 277 | 2,261 | 806 | 277 | 3,067 | 3,344 | 1,268 | 1996 | (j) | ||||||||||||||||||||||||||||
5205 Highway 169 | Plymouth, MN | — | 446 | 2,525 | 767 | 578 | 3,160 | 3,738 | 1,409 | 1996 | (j) | ||||||||||||||||||||||||||||
7100-7198 Shady Oak Road | Eden Prairie, MN | 4,828 | 715 | 4,054 | 2,400 | 736 | 6,433 | 7,169 | 2,524 | 1996 | (j) | ||||||||||||||||||||||||||||
7500-7546 Washington Avenue | Eden Prairie, MN | — | 229 | 1,300 | 847 | 235 | 2,141 | 2,376 | 842 | 1996 | (j) | ||||||||||||||||||||||||||||
7550-7586 Washington Avenue | Eden Prairie, MN | — | 153 | 867 | 281 | 157 | 1,144 | 1,301 | 484 | 1996 | (j) | ||||||||||||||||||||||||||||
5240-5300 Valley Industrial Blvd | Shakopee, MN | 2,270 | 362 | 2,049 | 827 | 371 | 2,867 | 3,238 | 1,115 | 1996 | (j) | ||||||||||||||||||||||||||||
500-530 Kasota Avenue SE | Minneapolis, MN | — | 415 | 2,354 | 1,042 | 434 | 3,377 | 3,811 | 1,334 | 1998 | (j) | ||||||||||||||||||||||||||||
2530-2570 Kasota Avenue | St. Paul, MN | — | 407 | 2,308 | 836 | 441 | 3,110 | 3,551 | 1,186 | 1998 | (j) | ||||||||||||||||||||||||||||
5775 12th Avenue | Shakopee, MN | 4,108 | 590 | — | 5,270 | 590 | 5,270 | 5,860 | 1,871 | 1998 | (j) | ||||||||||||||||||||||||||||
1157 Valley Park Drive | Shakopee, MN | — | 760 | — | 6,592 | 888 | 6,464 | 7,352 | 2,352 | 1999 | (j) | ||||||||||||||||||||||||||||
9600 West 76th Street | Eden Prairie, MN | 2,317 | 1,000 | 2,450 | 378 | 1,034 | 2,794 | 3,828 | 848 | 2004 | (j) | ||||||||||||||||||||||||||||
9700 West 76th Street | Eden Prairie, MN | 3,243 | 1,000 | 2,709 | 871 | 1,038 | 3,542 | 4,580 | 1,072 | 2004 | (j) | ||||||||||||||||||||||||||||
7600 69th Avenue | Greenfield, MN | — | 1,500 | 8,328 | 1,387 | 1,510 | 9,705 | 11,215 | 3,234 | 2004 | (j) | ||||||||||||||||||||||||||||
5017 Boone Avenue North | New Hope, MN | — | 1,000 | 1,599 | (100 | ) | 1,009 | 1,490 | 2,499 | 721 | 2005 | (j) | |||||||||||||||||||||||||||
2300 West Highway 13 | Burnsville, MN | — | 2,517 | 6,069 | (1,692 | ) | 1,296 | 5,598 | 6,894 | 3,092 | 2005 | (j) | |||||||||||||||||||||||||||
1087 Park Place | Shakopee, MN | 4,196 | 1,195 | 4,891 | (666 | ) | 1,198 | 4,222 | 5,420 | 961 | 2005 | (j) | |||||||||||||||||||||||||||
5391 12th Avenue SE | Shakopee, MN | 4,510 | 1,392 | 8,149 | (501 | ) | 1,395 | 7,645 | 9,040 | 1,700 | 2005 | (j) | |||||||||||||||||||||||||||
4701 Valley Industrial Blvd S | Shakopee, MN | 5,660 | 1,296 | 7,157 | (379 | ) | 1,299 | 6,775 | 8,074 | 2,166 | 2005 | (j) | |||||||||||||||||||||||||||
6455 City West Parkway | Eden Prairie, MN | — | 659 | 3,189 | 949 | 665 | 4,132 | 4,797 | 701 | 2006 | (j) | ||||||||||||||||||||||||||||
7035 Winnetka Avenue North | Brooklyn Park, MN | 4,260 | 1,275 | — | 6,469 | 1,343 | 6,401 | 7,744 | 1,081 | 2007 | (j) | ||||||||||||||||||||||||||||
139 Eva Street | St. Paul, MN | — | 2,132 | 3,105 | 90 | 2,175 | 3,152 | 5,327 | 806 | 2008 | (j) | ||||||||||||||||||||||||||||
21900 Dodd Boulevard | Lakeville, MN | 9,203 | 2,289 | 7,952 | — | 2,289 | 7,952 | 10,241 | 1,349 | 2010 | (j) | ||||||||||||||||||||||||||||
Nashville | |||||||||||||||||||||||||||||||||||||||
1621 Heil Quaker Boulevard | Nashville, TN | 1,955 | 413 | 2,383 | 940 | 430 | 3,306 | 3,736 | 1,484 | 1995 | (j) | ||||||||||||||||||||||||||||
3099 Barry Drive | Portland, TN | — | 418 | 2,368 | (680 | ) | 248 | 1,858 | 2,106 | 988 | 1996 | (j) | |||||||||||||||||||||||||||
1931 Air Lane Drive | Nashville, TN | 2,398 | 489 | 2,785 | 286 | 493 | 3,067 | 3,560 | 1,230 | 1997 | (j) | ||||||||||||||||||||||||||||
4640 Cummings Park | Nashville, TN | 2,113 | 360 | 2,040 | 613 | 365 | 2,648 | 3,013 | 884 | 1999 | (j) | ||||||||||||||||||||||||||||
1740 River Hills Drive | Nashville, TN | 2,898 | 848 | 4,383 | 558 | 888 | 4,901 | 5,789 | 1,681 | 2005 | (j) | ||||||||||||||||||||||||||||
211 Ellery Court | Nashville, TN | 2,832 | 606 | 3,192 | 258 | 616 | 3,440 | 4,056 | 902 | 2007 | (j) | ||||||||||||||||||||||||||||
130 Maddox Road | Gallatin, TN | 16,406 | 1,778 | — | 24,298 | 1,778 | 24,298 | 26,076 | 3,465 | 2008 | (j) | ||||||||||||||||||||||||||||
Northern New Jersey | |||||||||||||||||||||||||||||||||||||||
14 World's Fair Drive | Franklin, NJ | — | 483 | 2,735 | 704 | 503 | 3,419 | 3,922 | 1,371 | 1997 | (j) | ||||||||||||||||||||||||||||
12 World's Fair Drive | Franklin, NJ | — | 572 | 3,240 | 1,014 | 593 | 4,233 | 4,826 | 1,713 | 1997 | (j) | ||||||||||||||||||||||||||||
22 World's Fair Drive | Franklin, NJ | — | 364 | 2,064 | 379 | 375 | 2,432 | 2,807 | 954 | 1997 | (j) | ||||||||||||||||||||||||||||
26 World's Fair Drive | Franklin, NJ | — | 361 | 2,048 | 508 | 377 | 2,540 | 2,917 | 979 | 1997 | (j) | ||||||||||||||||||||||||||||
24 World's Fair Drive | Franklin, NJ | — | 347 | 1,968 | 471 | 362 | 2,424 | 2,786 | 948 | 1997 | (j) | ||||||||||||||||||||||||||||
20 World's Fair Drive Lot 13 | Sumerset, NJ | — | 9 | — | 2,555 | 691 | 1,873 | 2,564 | 603 | 1999 | (j) | ||||||||||||||||||||||||||||
45 Route 46 | Pine Brook, NJ | — | 969 | 5,491 | 906 | 978 | 6,388 | 7,366 | 2,048 | 2000 | (j) | ||||||||||||||||||||||||||||
43 Route 46 | Pine Brook, NJ | — | 474 | 2,686 | 553 | 479 | 3,234 | 3,713 | 1,108 | 2000 | (j) | ||||||||||||||||||||||||||||
39 Route 46 | Pine Brook, NJ | — | 260 | 1,471 | 196 | 262 | 1,665 | 1,927 | 536 | 2000 | (j) | ||||||||||||||||||||||||||||
26 Chapin Road | Pine Brook, NJ | 4,654 | 956 | 5,415 | 796 | 965 | 6,202 | 7,167 | 2,100 | 2000 | (j) | ||||||||||||||||||||||||||||
30 Chapin Road | Pine Brook, NJ | 4,494 | 960 | 5,440 | 521 | 969 | 5,952 | 6,921 | 1,961 | 2000 | (j) | ||||||||||||||||||||||||||||
20 Hook Mountain Road | Pine Brook, NJ | — | 1,507 | 8,542 | 2,815 | 1,534 | 11,330 | 12,864 | 4,276 | 2000 | (j) | ||||||||||||||||||||||||||||
30 Hook Mountain Road | Pine Brook, NJ | — | 389 | 2,206 | 540 | 396 | 2,739 | 3,135 | 883 | 2000 | (j) | ||||||||||||||||||||||||||||
16 Chapin Rod | Pine Brook, NJ | 3,538 | 885 | 5,015 | 569 | 901 | 5,568 | 6,469 | 1,819 | 2000 | (j) | ||||||||||||||||||||||||||||
20 Chapin Road | Pine Brook, NJ | 4,437 | 1,134 | 6,426 | 550 | 1,154 | 6,956 | 8,110 | 2,218 | 2000 | (j) | ||||||||||||||||||||||||||||
2500 Main Street | Sayreville, NJ | 3,534 | 944 | — | 4,535 | 944 | 4,535 | 5,479 | 1,244 | 2002 | (j) | ||||||||||||||||||||||||||||
2400 Main Street | Sayreville, NJ | — | 996 | — | 5,527 | 996 | 5,527 | 6,523 | 1,323 | 2003 | (j) | ||||||||||||||||||||||||||||
309-313 Pierce Street | Somerset, NJ | 3,478 | 1,300 | 4,628 | 1,020 | 1,309 | 5,639 | 6,948 | 1,743 | 2004 | (j) | ||||||||||||||||||||||||||||
Philadelphia | |||||||||||||||||||||||||||||||||||||||
230-240 Welsh Pool Road | Exton, PA | — | 154 | 851 | 355 | 170 | 1,190 | 1,360 | 407 | 1998 | (j) | ||||||||||||||||||||||||||||
264 Welsh Pool Road | Exton, PA | — | 147 | 811 | 147 | 162 | 943 | 1,105 | 355 | 1998 | (j) | ||||||||||||||||||||||||||||
254 Welsh Pool Road | Exton, PA | — | 75 | 418 | 205 | 91 | 607 | 698 | 238 | 1998 | (j) | ||||||||||||||||||||||||||||
243-251 Welsh Pool Road | Exton, PA | — | 144 | 796 | 364 | 159 | 1,145 | 1,304 | 402 | 1998 | (j) | ||||||||||||||||||||||||||||
151-161 Philips Road | Exton, PA | — | 191 | 1,059 | 285 | 229 | 1,306 | 1,535 | 503 | 1998 | (j) | ||||||||||||||||||||||||||||
216 Philips Road | Exton, PA | — | 199 | 1,100 | 499 | 220 | 1,578 | 1,798 | 618 | 1998 | (j) | ||||||||||||||||||||||||||||
14 McFadden Road | Palmer, PA | 1,440 | 600 | 1,349 | (274 | ) | 625 | 1,050 | 1,675 | 231 | 2004 | (j) | |||||||||||||||||||||||||||
2801 Red Lion Road | Philadelphia, PA | — | 950 | 5,916 | (62 | ) | 964 | 5,840 | 6,804 | 1,977 | 2005 | (j) | |||||||||||||||||||||||||||
3240 S. 78th Street | Philadelphia, PA | — | 515 | 1,245 | (513 | ) | 423 | 824 | 1,247 | 222 | 2005 | (j) | |||||||||||||||||||||||||||
200 Cascade Drive, Bldg. 1 | Allen Town, PA | 17,193 | 2,133 | 17,562 | 38 | 2,769 | 16,964 | 19,733 | 4,264 | 2007 | (j) | ||||||||||||||||||||||||||||
200 Cascade Drive, Bldg. 2 | Allen Town, PA | 2,407 | 310 | 2,268 | 174 | 316 | 2,436 | 2,752 | 592 | 2007 | (j) | ||||||||||||||||||||||||||||
6300 Bristol Pike | Levittown, PA | — | 1,074 | 2,642 | (424 | ) | 964 | 2,328 | 3,292 | 1,254 | 2008 | (j) | |||||||||||||||||||||||||||
2455 Boulevard of Generals | Norristown, PA | 3,548 | 1,200 | 4,800 | 1,088 | 1,226 | 5,862 | 7,088 | 1,849 | 2008 | (j) | ||||||||||||||||||||||||||||
Phoenix | |||||||||||||||||||||||||||||||||||||||
1045 South Edward Drive | Tempe, AZ | — | 390 | 2,160 | 155 | 396 | 2,309 | 2,705 | 805 | 1999 | (j) | ||||||||||||||||||||||||||||
50 South 56th Street | Chandler, AZ | — | 1,206 | 3,218 | 1,362 | 1,252 | 4,534 | 5,786 | 1,003 | 2004 | (j) | ||||||||||||||||||||||||||||
4701 W. Jefferson | Phoenix, AZ | 2,526 | 926 | 2,195 | 443 | 929 | 2,635 | 3,564 | 1,272 | 2005 | (j) | ||||||||||||||||||||||||||||
7102 W. Roosevelt | Phoenix, AZ | — | 1,613 | 6,451 | 389 | 1,620 | 6,833 | 8,453 | 1,971 | 2006 | (j) | ||||||||||||||||||||||||||||
4137 West Adams Street | Phoenix, AZ | — | 990 | 2,661 | 467 | 1,038 | 3,080 | 4,118 | 883 | 2006 | (j) | ||||||||||||||||||||||||||||
245 W. Lodge | Tempe, AZ | — | 898 | 3,066 | (1,890 | ) | 362 | 1,712 | 2,074 | 650 | 2007 | (j) | |||||||||||||||||||||||||||
1590 E Riverview Dr. | Phoenix, AZ | 4,809 | 1,293 | 5,950 | 401 | 1,292 | 6,352 | 7,644 | 1,171 | 2008 | (j) | ||||||||||||||||||||||||||||
14131 N. Rio Vista Blvd | Peoria, AZ | — | 2,563 | 9,388 | 1,160 | 2,563 | 10,548 | 13,111 | 2,294 | 2008 | (j) | ||||||||||||||||||||||||||||
8716 W. Ludlow Drive | Peoria, AZ | — | 2,709 | 10,970 | 935 | 2,709 | 11,905 | 14,614 | 2,347 | 2008 | (j) | ||||||||||||||||||||||||||||
3815 W. Washington St. | Phoenix, AZ | 3,725 | 1,675 | 4,514 | 149 | 1,719 | 4,619 | 6,338 | 814 | 2008 | (j) | ||||||||||||||||||||||||||||
9180 W. Buckeye Road | Tolleson, AZ | 6,872 | 1,904 | 6,805 | 2,251 | 1,923 | 9,037 | 10,960 | 1,357 | 2008 | (j) | ||||||||||||||||||||||||||||
Salt Lake City | |||||||||||||||||||||||||||||||||||||||
1270 West 2320 South | West Valley, UT | — | 138 | 784 | 144 | 143 | 923 | 1,066 | 334 | 1998 | (j) | ||||||||||||||||||||||||||||
1275 West 2240 South | West Valley, UT | — | 395 | 2,241 | 275 | 408 | 2,503 | 2,911 | 962 | 1998 | (j) | ||||||||||||||||||||||||||||
1288 West 2240 South | West Valley, UT | — | 119 | 672 | 128 | 123 | 796 | 919 | 293 | 1998 | (j) | ||||||||||||||||||||||||||||
2235 South 1300 West | West Valley, UT | — | 198 | 1,120 | 346 | 204 | 1,460 | 1,664 | 541 | 1998 | (j) | ||||||||||||||||||||||||||||
1293 West 2200 South | West Valley, UT | — | 158 | 896 | 248 | 163 | 1,139 | 1,302 | 412 | 1998 | (j) | ||||||||||||||||||||||||||||
1279 West 2200 South | West Valley, UT | — | 198 | 1,120 | 360 | 204 | 1,474 | 1,678 | 636 | 1998 | (j) | ||||||||||||||||||||||||||||
1272 West 2240 South | West Valley, UT | — | 336 | 1,905 | 415 | 347 | 2,309 | 2,656 | 891 | 1998 | (j) | ||||||||||||||||||||||||||||
1149 West 2240 South | West Valley, UT | — | 217 | 1,232 | 248 | 225 | 1,472 | 1,697 | 550 | 1998 | (j) | ||||||||||||||||||||||||||||
1142 West 2320 South | West Valley, UT | — | 217 | 1,232 | 168 | 225 | 1,392 | 1,617 | 518 | 1998 | (j) | ||||||||||||||||||||||||||||
1152 West 2240 South | West Valley, UT | — | 1,652 | — | 2,577 | 669 | 3,560 | 4,229 | 1,352 | 2000 | (j) | ||||||||||||||||||||||||||||
2323 South 900 W | Salt Lake City, UT | — | 886 | 2,995 | 429 | 898 | 3,412 | 4,310 | 1,698 | 2006 | (j) | ||||||||||||||||||||||||||||
1815-1957 South 4650 West | Salt Lake City, UT | 7,372 | 1,707 | 10,873 | 451 | 1,713 | 11,318 | 13,031 | 2,650 | 2006 | (j) | ||||||||||||||||||||||||||||
2100 Alexander Street | West Valley, UT | 1,287 | 376 | 1,670 | 293 | 376 | 1,963 | 2,339 | 421 | 2007 | (j) | ||||||||||||||||||||||||||||
2064 Alexander Street | West Valley, UT | 2,076 | 864 | 2,771 | 138 | 869 | 2,904 | 3,773 | 819 | 2007 | (j) | ||||||||||||||||||||||||||||
Seattle | |||||||||||||||||||||||||||||||||||||||
1901 Raymond Ave SW | Renton, WA | 1,362 | 4,458 | 2,659 | 722 | 4,594 | 3,245 | 7,839 | 827 | 2008 | (j) | ||||||||||||||||||||||||||||
19014 64th Avenue South | Kent, WA | 3,164 | 1,990 | 3,979 | 352 | 2,042 | 4,279 | 6,321 | 914 | 2008 | (j) | ||||||||||||||||||||||||||||
18640 68th Avenue South | Kent, WA | 544 | 1,218 | 1,950 | 374 | 1,258 | 2,284 | 3,542 | 630 | 2008 | (j) | ||||||||||||||||||||||||||||
3480 Marginal Way | Seattle, WA | — | 9,139 | 5,881 | 1,228 | 9,340 | 6,908 | 16,248 | 918 | 2008 | (j) | ||||||||||||||||||||||||||||
Southern California | |||||||||||||||||||||||||||||||||||||||
1944 Vista Bella Way | Rancho Domingue, CA | 3,824 | 1,746 | 3,148 | 562 | 1,822 | 3,634 | 5,456 | 1,248 | 2005 | (j) | ||||||||||||||||||||||||||||
2000 Vista Bella Way | Rancho Domingue, CA | 1,390 | 817 | 1,673 | 287 | 853 | 1,924 | 2,777 | 653 | 2005 | (j) | ||||||||||||||||||||||||||||
2835 East Ana Street | Rancho Domingue, CA | 3,049 | 1,682 | 2,750 | 96 | 1,772 | 2,756 | 4,528 | 804 | 2005 | (j) | ||||||||||||||||||||||||||||
16275 Technology Drive | San Diego, CA | — | 2,848 | 8,641 | 244 | 2,859 | 8,874 | 11,733 | 2,002 | 2005 | (j) | ||||||||||||||||||||||||||||
665 N. Baldwin Park Blvd. | City of Industry, CA | 4,470 | 2,124 | 5,219 | 1,587 | 2,143 | 6,787 | 8,930 | 2,145 | 2006 | (j) | ||||||||||||||||||||||||||||
27801 Avenue Scott | Santa Clarita, CA | 7,499 | 2,890 | 7,020 | 788 | 2,902 | 7,796 | 10,698 | 2,084 | 2006 | (j) | ||||||||||||||||||||||||||||
2610 & 2660 Columbia St | Torrance, CA | 4,796 | 3,008 | 5,826 | 748 | 3,031 | 6,551 | 9,582 | 1,517 | 2006 | (j) | ||||||||||||||||||||||||||||
433 Alaska Avenue | Torrance, CA | — | 681 | 168 | 19 | 684 | 184 | 868 | 95 | 2006 | (j) | ||||||||||||||||||||||||||||
4020 S. Compton Ave | Los Angeles, CA | — | 3,800 | 7,330 | 71 | 3,825 | 7,376 | 11,201 | 1,629 | 2006 | (j) | ||||||||||||||||||||||||||||
SCHEDULE III: | |||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||
(b) | (c) | Gross Amount Carried | Year | Depreciable | |||||||||||||||||||||||||||||||||||
Initial Cost | Costs | At Close of Period 12/31/13 | Acquired/ | Lives | |||||||||||||||||||||||||||||||||||
Capitalized | Constructed | (Years) | |||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
Acquisition or | |||||||||||||||||||||||||||||||||||||||
Completion | |||||||||||||||||||||||||||||||||||||||
and Valuation | |||||||||||||||||||||||||||||||||||||||
Building Address | Location | (a) | Land | Building and | Provision | Land | Building and | Total | Accumulated | ||||||||||||||||||||||||||||||
(City/State) | Encumbrances | Improvements | Improvements | Depreciation | |||||||||||||||||||||||||||||||||||
12/31/13 | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||
6305 El Camino Real | Carlsbad, CA | — | 1,590 | 6,360 | 7,730 | 1,590 | 14,090 | 15,680 | 2,965 | 2006 | (j) | ||||||||||||||||||||||||||||
2325 Camino Vida Roble | Carlsbad, CA | 2,049 | 1,441 | 1,239 | 706 | 1,446 | 1,940 | 3,386 | 483 | 2006 | (j) | ||||||||||||||||||||||||||||
2335 Camino Vida Roble | Carlsbad, CA | 1,115 | 817 | 762 | 263 | 821 | 1,021 | 1,842 | 355 | 2006 | (j) | ||||||||||||||||||||||||||||
2345 Camino Vida Roble | Carlsbad, CA | 720 | 562 | 456 | 88 | 565 | 541 | 1,106 | 238 | 2006 | (j) | ||||||||||||||||||||||||||||
2355 Camino Vida Roble | Carlsbad, CA | 596 | 481 | 365 | 139 | 483 | 502 | 985 | 182 | 2006 | (j) | ||||||||||||||||||||||||||||
2365 Camino Vida Roble | Carlsbad, CA | 1,204 | 1,098 | 630 | 261 | 1,102 | 887 | 1,989 | 280 | 2006 | (j) | ||||||||||||||||||||||||||||
2375 Camino Vida Roble | Carlsbad, CA | 1,412 | 1,210 | 874 | 185 | 1,214 | 1,055 | 2,269 | 385 | 2006 | (j) | ||||||||||||||||||||||||||||
6451 El Camino Real | Carlsbad, CA | — | 2,885 | 1,931 | 728 | 2,895 | 2,649 | 5,544 | 852 | 2006 | (j) | ||||||||||||||||||||||||||||
8572 Spectrum Lane | San Diego, CA | 2,237 | 806 | 3,225 | 439 | 807 | 3,663 | 4,470 | 753 | 2007 | (j) | ||||||||||||||||||||||||||||
13100 Gregg Street | Poway, CA | — | 1,040 | 4,160 | 341 | 1,073 | 4,468 | 5,541 | 1,153 | 2007 | (j) | ||||||||||||||||||||||||||||
21730-21748 Marilla St. | Chatsworth, CA | 2,988 | 2,585 | 3,210 | 99 | 2,608 | 3,286 | 5,894 | 833 | 2007 | (j) | ||||||||||||||||||||||||||||
8015 Paramount | Pico Rivera, CA | — | 3,616 | 3,902 | 61 | 3,657 | 3,922 | 7,579 | 1,215 | 2007 | (j) | ||||||||||||||||||||||||||||
3365 E. Slauson | Vernon, CA | — | 2,367 | 3,243 | 40 | 2,396 | 3,254 | 5,650 | 1,062 | 2007 | (j) | ||||||||||||||||||||||||||||
3015 East Ana | Rancho Domingue, CA | — | 19,678 | 9,321 | 6,271 | 20,144 | 15,126 | 35,270 | 2,954 | 2007 | (j) | ||||||||||||||||||||||||||||
19067 Reyes Ave | Rancho Domingue, CA | — | 9,281 | 3,920 | 40 | 9,381 | 3,860 | 13,241 | 1,389 | 2007 | (j) | ||||||||||||||||||||||||||||
24870 Nandina Avenue | Moreno Valley, CA | — | 13,543 | — | 20,904 | 6,482 | 27,965 | 34,447 | 848 | 2012 | (j) | ||||||||||||||||||||||||||||
1250 Rancho Conejo Blvd. | Thousand Oaks, CA | — | 1,435 | 779 | 42 | 1,441 | 815 | 2,256 | 280 | 2007 | (j) | ||||||||||||||||||||||||||||
1260 Rancho Conejo Blvd. | Thousand Oaks, CA | — | 1,353 | 722 | (844 | ) | 675 | 556 | 1,231 | 219 | 2007 | (j) | |||||||||||||||||||||||||||
1270 Rancho Conejo Blvd. | Thousand Oaks, CA | — | 1,224 | 716 | 21 | 1,229 | 732 | 1,961 | 258 | 2007 | (j) | ||||||||||||||||||||||||||||
1280 Rancho Conejo Blvd. | Thousand Oaks, CA | 2,971 | 2,043 | 3,408 | (233 | ) | 2,051 | 3,167 | 5,218 | 586 | 2007 | (j) | |||||||||||||||||||||||||||
1290 Rancho Conejo Blvd | Thousand Oaks, CA | 2,559 | 1,754 | 2,949 | (204 | ) | 1,761 | 2,738 | 4,499 | 512 | 2007 | (j) | |||||||||||||||||||||||||||
100 West Sinclair Street | Riverside, CA | — | 4,894 | 3,481 | (4,546 | ) | 1,819 | 2,010 | 3,829 | 1,165 | 2007 | (j) | |||||||||||||||||||||||||||
14050 Day Street | Moreno Valley, CA | 3,376 | 2,538 | 2,538 | 290 | 2,565 | 2,801 | 5,366 | 668 | 2008 | (j) | ||||||||||||||||||||||||||||
12925 Marlay Avenue | Fontana, CA | 9,265 | 6,072 | 7,891 | 762 | 6,090 | 8,635 | 14,725 | 2,669 | 2008 | (j) | ||||||||||||||||||||||||||||
18201-18291 Santa Fe | Rancho Domingue, CA | 10,015 | 6,720 | — | 9,197 | 6,897 | 9,020 | 15,917 | 1,409 | 2008 | (j) | ||||||||||||||||||||||||||||
1011 Rancho Conejo | Thousand Oaks, CA | 5,629 | 7,717 | 2,518 | (187 | ) | 7,752 | 2,296 | 10,048 | 852 | 2008 | (j) | |||||||||||||||||||||||||||
2300 Corporate Center Drive | Thousand Oaks, CA | — | 6,506 | 4,885 | (5,433 | ) | 3,236 | 2,722 | 5,958 | 803 | 2008 | (j) | |||||||||||||||||||||||||||
20700 Denker Avenue | Rancho Domingue, CA | 5,399 | 5,767 | 2,538 | 1,470 | 5,964 | 3,811 | 9,775 | 1,388 | 2008 | (j) | ||||||||||||||||||||||||||||
18408 Laurel Park Road | Rancho Domingue, CA | — | 2,850 | 2,850 | 722 | 2,874 | 3,548 | 6,422 | 736 | 2008 | (j) | ||||||||||||||||||||||||||||
19021 S. Reyes Ave. | Rancho Domingue, CA | — | 8,183 | 7,501 | 761 | 8,545 | 7,900 | 16,445 | 1,390 | 2008 | (j) | ||||||||||||||||||||||||||||
6185 Kimball Ave | Chino, CA | — | 6,385 | — | 12,335 | 6,382 | 12,338 | 18,720 | 297 | 2013 | (j) | ||||||||||||||||||||||||||||
5555 Bandini Blvd | Bell, CA | — | 32,536 | — | 20,668 | 32,540 | 20,664 | 53,204 | 128 | 2013 | (j) | ||||||||||||||||||||||||||||
Southern New Jersey | |||||||||||||||||||||||||||||||||||||||
2060 Springdale Road | Cherry Hill, NJ | — | 258 | 1,436 | 795 | 258 | 2,231 | 2,489 | 916 | 1998 | (j) | ||||||||||||||||||||||||||||
111 Whittendale Drive | Morrestown, NJ | 1,933 | 522 | 2,916 | 425 | 522 | 3,341 | 3,863 | 1,095 | 2000 | (j) | ||||||||||||||||||||||||||||
7851 Airport Highway | Pennsauken, NJ | — | 160 | 508 | 381 | 162 | 887 | 1,049 | 313 | 2003 | (j) | ||||||||||||||||||||||||||||
103 Central Avenue | Mt. Laurel, NJ | — | 610 | 1,847 | 1,239 | 619 | 3,077 | 3,696 | 935 | 2003 | (j) | ||||||||||||||||||||||||||||
7890 Airport Hwy/7015 Central | Pennsauken, NJ | 1,182 | 300 | 989 | 543 | 425 | 1,407 | 1,832 | 814 | 2006 | (j) | ||||||||||||||||||||||||||||
600 Creek Road | Delanco, NJ | — | 2,125 | 6,504 | (4,089 | ) | 1,557 | 2,983 | 4,540 | 596 | 2007 | (j) | |||||||||||||||||||||||||||
St. Louis | |||||||||||||||||||||||||||||||||||||||
8921-8971 Frost Avenue | Hazelwood, MO | — | 431 | 2,479 | 835 | 431 | 3,314 | 3,745 | 1,398 | 1994 | (j) | ||||||||||||||||||||||||||||
9043-9083 Frost Avenue | Hazelwood, MO | — | 319 | 1,838 | 2,318 | 319 | 4,156 | 4,475 | 1,397 | 1994 | (j) | ||||||||||||||||||||||||||||
10431 Midwest Industrial Blvd | Olivette, MO | 1,284 | 237 | 1,360 | 444 | 237 | 1,804 | 2,041 | 789 | 1994 | (j) | ||||||||||||||||||||||||||||
10751 Midwest Industrial Boulevard | Olivette, MO | — | 193 | 1,119 | 294 | 194 | 1,412 | 1,606 | 542 | 1994 | (j) | ||||||||||||||||||||||||||||
6951 N Hanley | (d) | Hazelwood, MO | — | 405 | 2,295 | 2,465 | 419 | 4,746 | 5,165 | 1,656 | 1996 | (j) | |||||||||||||||||||||||||||
1067-1083 Warson-Bldg A | St. Louis, MO | 1,685 | 246 | 1,359 | 798 | 251 | 2,152 | 2,403 | 510 | 2002 | (j) | ||||||||||||||||||||||||||||
1093-1107 Warson-Bldg B | St. Louis, MO | 2,877 | 380 | 2,103 | 1,622 | 388 | 3,717 | 4,105 | 929 | 2002 | (j) | ||||||||||||||||||||||||||||
1113-1129 Warson-Bldg C | St. Louis, MO | 2,404 | 303 | 1,680 | 1,446 | 310 | 3,119 | 3,429 | 993 | 2002 | (j) | ||||||||||||||||||||||||||||
1131-1151 Warson-Bldg D | St. Louis, MO | 2,188 | 353 | 1,952 | 817 | 360 | 2,762 | 3,122 | 919 | 2002 | (j) | ||||||||||||||||||||||||||||
6821-6857 Hazelwood Avenue | Berkeley, MO | — | 985 | 6,205 | 556 | 985 | 6,761 | 7,746 | 1,946 | 2003 | (j) | ||||||||||||||||||||||||||||
13701 Rider Trail North | Earth City, MO | — | 800 | 2,099 | 710 | 804 | 2,805 | 3,609 | 883 | 2003 | (j) | ||||||||||||||||||||||||||||
1908-2000 Innerbelt | (d) | Overland, MO | 7,343 | 1,590 | 9,026 | 1,018 | 1,591 | 10,043 | 11,634 | 3,515 | 2004 | (j) | |||||||||||||||||||||||||||
9060 Latty Avenue | Berkeley, MO | — | 687 | 1,947 | (241 | ) | 694 | 1,699 | 2,393 | 1,354 | 2006 | (j) | |||||||||||||||||||||||||||
21-25 Gateway Commerce Center | Edwardsville, IL | — | 1,874 | 31,958 | (470 | ) | 1,902 | 31,460 | 33,362 | 6,418 | 2006 | (j) | |||||||||||||||||||||||||||
6647 Romiss Court | St. Louis, MO | — | 230 | 681 | (8 | ) | 241 | 662 | 903 | 210 | 2008 | (j) | |||||||||||||||||||||||||||
Tampa | |||||||||||||||||||||||||||||||||||||||
5313 Johns Road | Tampa, FL | — | 204 | 1,159 | 541 | 257 | 1,647 | 1,904 | 546 | 1997 | (j) | ||||||||||||||||||||||||||||
5525 Johns Road | Tampa, FL | — | 192 | 1,086 | 263 | 200 | 1,341 | 1,541 | 499 | 1997 | (j) | ||||||||||||||||||||||||||||
5709 Johns Road | Tampa, FL | — | 192 | 1,086 | 170 | 200 | 1,248 | 1,448 | 501 | 1997 | (j) | ||||||||||||||||||||||||||||
5711 Johns Road | Tampa, FL | — | 243 | 1,376 | 159 | 255 | 1,523 | 1,778 | 599 | 1997 | (j) | ||||||||||||||||||||||||||||
5453 W Waters Avenue | Tampa, FL | — | 71 | 402 | 147 | 82 | 538 | 620 | 217 | 1997 | (j) | ||||||||||||||||||||||||||||
5455 W Waters Avenue | Tampa, FL | — | 307 | 1,742 | 724 | 326 | 2,447 | 2,773 | 931 | 1997 | (j) | ||||||||||||||||||||||||||||
5553 W Waters Avenue | Tampa, FL | — | 307 | 1,742 | 353 | 326 | 2,076 | 2,402 | 822 | 1997 | (j) | ||||||||||||||||||||||||||||
5501 W Waters Avenue | Tampa, FL | — | 215 | 871 | 300 | 242 | 1,144 | 1,386 | 455 | 1997 | (j) | ||||||||||||||||||||||||||||
5503 W Waters Avenue | Tampa, FL | — | 98 | 402 | 313 | 110 | 703 | 813 | 321 | 1997 | (j) | ||||||||||||||||||||||||||||
5555 W Waters Avenue | Tampa, FL | — | 213 | 1,206 | 277 | 221 | 1,475 | 1,696 | 627 | 1997 | (j) | ||||||||||||||||||||||||||||
5557 W Waters Avenue | Tampa, FL | — | 59 | 335 | 52 | 62 | 384 | 446 | 150 | 1997 | (j) | ||||||||||||||||||||||||||||
5463 W Waters Avenue | Tampa, FL | — | 497 | 2,751 | 673 | 560 | 3,361 | 3,921 | 1,260 | 1998 | (j) | ||||||||||||||||||||||||||||
5461 W Waters Avenue | Tampa, FL | — | 261 | — | 1,305 | 265 | 1,301 | 1,566 | 495 | 1998 | (j) | ||||||||||||||||||||||||||||
5481 W Waters Avenue | Tampa, FL | — | 558 | — | 2,498 | 561 | 2,495 | 3,056 | 977 | 1999 | (j) | ||||||||||||||||||||||||||||
4515-4519 George Road | Tampa, FL | 2,532 | 633 | 3,587 | 838 | 640 | 4,418 | 5,058 | 1,404 | 2001 | (j) | ||||||||||||||||||||||||||||
6089 Johns Road | Tampa, FL | 932 | 180 | 987 | 114 | 186 | 1,095 | 1,281 | 380 | 2004 | (j) | ||||||||||||||||||||||||||||
6091 Johns Road | Tampa, FL | 649 | 140 | 730 | 48 | 144 | 774 | 918 | 269 | 2004 | (j) | ||||||||||||||||||||||||||||
6103 Johns Road | Tampa, FL | 978 | 220 | 1,160 | 2 | 226 | 1,156 | 1,382 | 339 | 2004 | (j) | ||||||||||||||||||||||||||||
6201 Johns Road | Tampa, FL | 932 | 200 | 1,107 | 10 | 205 | 1,112 | 1,317 | 396 | 2004 | (j) | ||||||||||||||||||||||||||||
6203 Johns Road | Tampa, FL | 1,331 | 300 | 1,460 | 122 | 311 | 1,571 | 1,882 | 705 | 2004 | (j) | ||||||||||||||||||||||||||||
6205 Johns Road | Tampa, FL | 1,260 | 270 | 1,363 | 149 | 278 | 1,504 | 1,782 | 387 | 2004 | (j) | ||||||||||||||||||||||||||||
6101 Johns Road | Tampa, FL | 739 | 210 | 833 | 1 | 216 | 828 | 1,044 | 276 | 2004 | (j) | ||||||||||||||||||||||||||||
4908 Tampa West Blvd | Tampa, FL | — | 2,622 | 8,643 | (820 | ) | 2,635 | 7,810 | 10,445 | 2,421 | 2005 | (j) | |||||||||||||||||||||||||||
7201-7281 Bryan Dairy Road | (d) | Largo, FL | — | 1,895 | 5,408 | (1,524 | ) | 1,365 | 4,414 | 5,779 | 1,006 | 2006 | (j) | ||||||||||||||||||||||||||
11701 Belcher Road South | Largo, FL | — | 1,657 | 2,768 | (1,656 | ) | 852 | 1,917 | 2,769 | 637 | 2006 | (j) | |||||||||||||||||||||||||||
4900-4914 Creekside Drive | (h) | Clearwater, FL | — | 3,702 | 7,338 | (3,252 | ) | 2,245 | 5,543 | 7,788 | 1,867 | 2006 | (j) | ||||||||||||||||||||||||||
12345 Starkey Road | Largo, FL | — | 898 | 2,078 | (643 | ) | 599 | 1,734 | 2,333 | 606 | 2006 | (j) | |||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||||||||
5050 Kendrick Court | Grand Rapids, MI | — | 1,721 | 11,433 | (2,272 | ) | 988 | 9,894 | 10,882 | 7,052 | 1994 | (j) | |||||||||||||||||||||||||||
2250 Delaware Ave. | Des Moines, IA | — | 277 | 1,609 | (58 | ) | 173 | 1,655 | 1,828 | 771 | 1998 | (j) | |||||||||||||||||||||||||||
9601A Dessau Road | Austin, TX | 1,225 | 255 | — | 1,884 | 366 | 1,773 | 2,139 | 637 | 1999 | (j) | ||||||||||||||||||||||||||||
9601C Dessau Road | Austin, TX | 1,355 | 248 | — | 2,119 | 355 | 2,012 | 2,367 | 1,029 | 1999 | (j) | ||||||||||||||||||||||||||||
9601B Dessau Road | Austin, TX | 1,209 | 248 | — | 1,863 | 355 | 1,756 | 2,111 | 595 | 2000 | (j) | ||||||||||||||||||||||||||||
6266 Hurt Road | Horn Lake, MS | — | 427 | — | 3,782 | 387 | 3,822 | 4,209 | 806 | 2004 | (j) | ||||||||||||||||||||||||||||
6301 Hazeltine National Drive | Orlando, FL | 3,809 | 909 | 4,613 | 203 | 920 | 4,805 | 5,725 | 1,693 | 2005 | (j) | ||||||||||||||||||||||||||||
12626 Silicon Drive | San Antonio, TX | 2,580 | 768 | 3,448 | (216 | ) | 779 | 3,221 | 4,000 | 1,024 | 2005 | (j) | |||||||||||||||||||||||||||
3100 Pinson Valley Parkway | Birmingham, AL | — | 303 | 742 | (285 | ) | 225 | 535 | 760 | 186 | 2005 | (j) | |||||||||||||||||||||||||||
3730 Wheeler Avenue | Fort Smith, AR | — | 720 | 2,800 | (589 | ) | 583 | 2,348 | 2,931 | 736 | 2006 | (j) | |||||||||||||||||||||||||||
3200 Pond Station | Jefferson County, KY | — | 2,074 | — | 9,896 | 2,120 | 9,850 | 11,970 | 1,734 | 2007 | (j) | ||||||||||||||||||||||||||||
581 Welltown Road/Tyson Blvd | Winchester, VA | — | 2,320 | — | 10,885 | 2,401 | 10,804 | 13,205 | 1,767 | 2007 | (j) | ||||||||||||||||||||||||||||
SCHEDULE III: | |||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||
(b) | (c) | Gross Amount Carried | Year | Depreciable | |||||||||||||||||||||||||||||||||||
Initial Cost | Costs | At Close of Period 12/31/13 | Acquired/ | Lives | |||||||||||||||||||||||||||||||||||
Capitalized | Constructed | (Years) | |||||||||||||||||||||||||||||||||||||
Subsequent to | |||||||||||||||||||||||||||||||||||||||
Acquisition or | |||||||||||||||||||||||||||||||||||||||
Completion | |||||||||||||||||||||||||||||||||||||||
and Valuation | |||||||||||||||||||||||||||||||||||||||
Building Address | Location | (a) | Land | Building and | Provision | Land | Building and | Total | Accumulated | ||||||||||||||||||||||||||||||
(City/ | Encumbrances | Improvements | Improvements | Depreciation | |||||||||||||||||||||||||||||||||||
State) | 12/31/13 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||
7501 NW 106th Terrace | Kansas City, MO | 11,200 | 4,152 | — | 13,649 | 4,228 | 13,573 | 17,801 | 1,767 | 2008 | (j) | ||||||||||||||||||||||||||||
600 Greene Drive | Greenville, KY | — | 294 | 8,570 | (727 | ) | 296 | 7,841 | 8,137 | 3,509 | 2008 | (j) | |||||||||||||||||||||||||||
Developments / Land Parcels | |||||||||||||||||||||||||||||||||||||||
Developments / Land Parcels | (i) | — | 147,085 | 430 | 2,897 | (k) | 137,641 | 12,771 | 150,412 | 1,714 | |||||||||||||||||||||||||||||
Total | $ | 677,890 | $ | 730,667 | $ | 1,652,430 | $ | 710,947 | $ | 703,478 | $ | 2,390,566 | $ | 3,094,044 | $ | 748,044 | |||||||||||||||||||||||
FIRST INDUSTRIAL REALTY TRUST, INC. | |||||||||||||||||||||||||||||||||||||||
SCHEDULE III: | |||||||||||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | |||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||
NOTES: | |||||||||||||||||||||||||||||||||||||||
(a) | See description of encumbrances in Note 6 of the Notes to Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||||||
(b) | Initial cost for each respective property is tangible purchase price allocated in accordance with FASB’s guidance on business combinations. | ||||||||||||||||||||||||||||||||||||||
(c) | Improvements are net of the write-off of fully depreciated assets and impairment of real estate. | ||||||||||||||||||||||||||||||||||||||
(d) | Comprised of two properties. | ||||||||||||||||||||||||||||||||||||||
(e) | Comprised of three properties. | ||||||||||||||||||||||||||||||||||||||
(f) | Comprised of four properties. | ||||||||||||||||||||||||||||||||||||||
(g) | Comprised of five properties. | ||||||||||||||||||||||||||||||||||||||
(h) | Comprised of eight properties. | ||||||||||||||||||||||||||||||||||||||
(i) | These properties represent developable land and land parcels for which we receive ground lease income. | ||||||||||||||||||||||||||||||||||||||
(j) Depreciation is computed based upon the following estimated lives: | |||||||||||||||||||||||||||||||||||||||
Buildings and Improvements | 7 to 50 years | ||||||||||||||||||||||||||||||||||||||
Land Improvements | 3 to 20 years | ||||||||||||||||||||||||||||||||||||||
Tenant Improvements | Shorter of Lease Term or Useful Life | ||||||||||||||||||||||||||||||||||||||
(k) Includes foreign currency translation adjustments. | |||||||||||||||||||||||||||||||||||||||
At December 31, 2013, the aggregate cost of land and buildings and equipment for federal income tax purpose was approximately $3.1 billion (excluding construction in progress). | |||||||||||||||||||||||||||||||||||||||
The changes in investment in real estate, including investment in real estate held for sale, for the three years ended December 31, 2013 are as follows: | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||
Balance, Beginning of Year | $ | 3,130,942 | $ | 3,115,050 | $ | 3,140,649 | |||||||||||||||||||||||||||||||||
Acquisition of Real Estate Assets | 69,481 | 65,770 | 22,953 | ||||||||||||||||||||||||||||||||||||
Construction Costs and Improvements | 100,207 | 74,116 | 72,822 | ||||||||||||||||||||||||||||||||||||
Disposition of Real Estate Assets | (142,369 | ) | (94,093 | ) | (91,312 | ) | |||||||||||||||||||||||||||||||||
Impairment of Real Estate | (2,652 | ) | (1,246 | ) | 2,661 | ||||||||||||||||||||||||||||||||||
Write-off of Fully Depreciated Assets | (36,062 | ) | (28,655 | ) | (32,723 | ) | |||||||||||||||||||||||||||||||||
Balance, End of Year | $ | 3,119,547 | $ | 3,130,942 | $ | 3,115,050 | |||||||||||||||||||||||||||||||||
The changes in accumulated depreciation, including accumulated depreciation for real estate held for sale, for the three years ended December 31, 2013 are as follows: | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||
Balance, Beginning of Year | $ | 735,593 | $ | 695,931 | $ | 663,310 | |||||||||||||||||||||||||||||||||
Depreciation for Year | 94,271 | 100,074 | 95,931 | ||||||||||||||||||||||||||||||||||||
Disposition of Assets | (45,758 | ) | (31,757 | ) | (30,587 | ) | |||||||||||||||||||||||||||||||||
Write-off of Fully Depreciated Assets | (36,062 | ) | (28,655 | ) | (32,723 | ) | |||||||||||||||||||||||||||||||||
Balance, End of Year | $ | 748,044 | $ | 735,593 | $ | 695,931 | |||||||||||||||||||||||||||||||||
Schedule_IV_Mortgage_Loans_on_
Schedule IV: Mortgage Loans on Real Estate | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Mortgage Loans on Real Estate [Abstract] | ' | |||||||||||||||||||
Mortgage Loans on Real Estate | ' | |||||||||||||||||||
Description | Interest rate | Final Maturity Date | Periodic Payment Terms | Prior Liens | Face Amount of Mortgages | Carrying Amount of Mortgages * | Principal Amount of Loans Subject to Delinquent Principal or Interest | |||||||||||||
Borrower A | 4.75 | % | 3/31/14 | Interest monthly and principal at maturity | N/A | $ | 9,800 | $ | 9,800 | N/A | ||||||||||
Borrower B | 4.75 | % | 12/26/14 | Interest monthly and principal at maturity | N/A | 2,720 | 2,720 | N/A | ||||||||||||
Borrower C | 6.75 | % | 6/30/15 | Interest and principal monthly | N/A | 10,325 | 9,821 | N/A | ||||||||||||
Borrower D | 7.5 | % | 12/22/16 | Interest and principal monthly | N/A | 8,030 | 7,165 | N/A | ||||||||||||
Borrower E | 6.35 | % | 6/30/17 | Interest and principal monthly | N/A | 24,207 | 23,099 | N/A | ||||||||||||
$ | 55,082 | $ | 52,605 | |||||||||||||||||
_______________ | ||||||||||||||||||||
* | Carrying amount includes all applicable accrued interest and accretion of discount to date, net of amounts reserved for loan losses. | |||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | ||||||||||||||||||
Balance at Beginning of Period | $ | 40,771 | $ | 47,420 | $ | 50,687 | ||||||||||||||
Additions During Period: | ||||||||||||||||||||
New Mortgage Loans | 12,520 | — | 7,029 | |||||||||||||||||
Accretion of Discount | 64 | 64 | 64 | |||||||||||||||||
Deductions During Period: | ||||||||||||||||||||
Provision for Loan Loss Reserve | (150 | ) | — | — | ||||||||||||||||
Collections of Principal | (598 | ) | (6,707 | ) | (10,304 | ) | ||||||||||||||
Interest | (2 | ) | (6 | ) | (56 | ) | ||||||||||||||
Balance at Close of Period | $ | 52,605 | $ | 40,771 | $ | 47,420 | ||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Reclassification and Other Presentation Matters | ' | |||||||
Reclassifications and Other Presentation Matters | ||||||||
Certain reclassifications have been made to the 2012 Consolidated Balance Sheet to conform to the 2013 presentation. The results of operations for the years ended December 31, 2013 and 2012 includes adjustments to depreciation and amortization expense of $(1,640) and $1,528, respectively, which should have been recorded during previous periods. Management evaluated the impact of the adjustments and does not believe they are material to the results of the current year or any previous period. | ||||||||
Cash and Cash Equivalents | ' | |||||||
Cash and Cash Equivalents | ||||||||
Cash and cash equivalents include all cash and liquid investments with an initial maturity of three months or less. The carrying amount approximates fair value due to the short term maturity of these investments. | ||||||||
Investment in Real Estate and Depreciation | ' | |||||||
Investment in Real Estate and Depreciation | ||||||||
Investment in real estate is carried at cost, less accumulated depreciation and amortization. We review our properties on a quarterly basis for impairment and provide a provision if impairments exist. To determine if an impairment may exist, we review our properties and identify those that have had either an event of change or event of circumstances warranting further assessment of recoverability (such as a decrease in occupancy or decline in general market conditions). If further assessment of recoverability is needed, we estimate the future net cash flows expected to result from the use of the property and its eventual disposition on an individual property basis. If the sum of the expected future net cash flows (undiscounted and without interest charges) is less than the carrying amount of the property on an individual property basis, we will recognize an impairment loss based upon the estimated fair value of such property. For properties we consider held for sale, we cease depreciating the properties and value the properties at the lower of depreciated cost or fair value, less costs to dispose. If circumstances arise that were previously considered unlikely, and, as a result, we decide not to sell a property previously classified as held for sale, we will reclassify such property as held and used. Such property is measured at the lower of its carrying amount (adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used) or fair value at the date of the subsequent decision not to sell. We classify properties as held for sale when all criteria within the Financial Accounting Standards Board’s (the "FASB") guidance on the impairment or disposal of long-lived assets are met. | ||||||||
Interest costs, real estate taxes, compensation costs of development personnel and other directly related costs incurred during construction periods are capitalized and depreciated commencing with the date the property is substantially completed. Upon substantial completion, we reclassify construction in progress to building, tenant improvements and leasing commissions. Such costs begin to be capitalized to the development projects from the point we are undergoing necessary activities to get the development ready for its intended use and ceases when the development projects are substantially completed and held available for occupancy. | ||||||||
Depreciation expense is computed using the straight-line method based on the following useful lives: | ||||||||
Years | ||||||||
Buildings and Improvements | 7 to 50 | |||||||
Land Improvements | 3 to 20 | |||||||
Furniture, Fixtures and Equipment | 4 to 10 | |||||||
Tenant Improvements | Shorter of Lease Term or Useful Life | |||||||
Construction expenditures for tenant improvements, leasehold improvements and leasing commissions (inclusive of compensation costs of personnel attributable to leasing) are capitalized and amortized over the terms of each specific lease. Capitalized compensation costs of personnel attributable to leasing relate to time directly attributable to originating leases with independent third parties that result directly from and are essential to originating those leases and would not have been incurred had these leasing transactions not occurred. Repairs and maintenance are charged to expense when incurred. Expenditures for improvements are capitalized. | ||||||||
Upon acquisition of a property, we allocate the purchase price of the property based upon the fair value of the assets acquired and liabilities assumed, which generally consists of land, buildings, tenant improvements, leasing commissions and intangible assets including in-place leases, above market and below market leases and tenant relationships. We allocate the purchase price to the fair value of the tangible assets of an acquired property by valuing the property as if it were vacant. Acquired above and below market leases are valued based on the present value of the difference between prevailing market rates and the in-place rates measured over a period equal to the remaining term of the lease for above market leases and the initial term plus the term of any below market fixed rate renewal options for below market leases. The above market lease values are amortized as a reduction of rental revenue over the remaining term of the respective leases, and the below market lease values are amortized as an increase to base rental revenue over the remaining initial terms plus the terms of any below market fixed rate renewal options of the respective leases. | ||||||||
The purchase price is further allocated to in-place lease values and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with the respective tenant. The value of in-place lease intangibles and tenant relationships, which are included as components of deferred leasing intangibles, net are amortized over the remaining lease term (and expected renewal periods of the respective lease for tenant relationships) as adjustments to depreciation and other amortization expense. If a tenant terminates its lease early, the unamortized portion of the tenant improvements, leasing commissions, above and below market leases, the in-place lease value and tenant relationships is immediately written off. | ||||||||
Deferred leasing intangibles, net of accumulated amortization, included in our total assets and total liabilities consist of the following: | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
In-Place Leases | $ | 15,676 | $ | 17,200 | ||||
Above Market Leases | 3,994 | 4,888 | ||||||
Tenant Relationships | 10,120 | 11,102 | ||||||
Total Included in Total Assets, Net of $30,017 and $36,327 of Accumulated Amortization | $ | 29,790 | $ | 33,190 | ||||
Below Market Leases | $ | 13,626 | $ | 15,522 | ||||
Total Included in Total Liabilities, Net of $8,240 and $9,389 of Accumulated Amortization | $ | 13,626 | $ | 15,522 | ||||
Amortization expense related to in-place leases and tenant relationships, exclusive of amortization expense related to in-place leases and tenant relationships included in discontinued operations, was $6,153, $7,024 and $10,550 for the years ended December 31, 2013, 2012 and 2011, respectively. Rental revenues increased by $572, $797 and $1,456 related to net amortization of above/(below) market leases, exclusive of net amortization related to above/(below) market leases included in discontinued operations, for the years ended December 31, 2013, 2012 and 2011, respectively. We will recognize net amortization related to deferred leasing intangibles over the next five years, for properties owned as of December 31, 2013 as follows: | ||||||||
Estimated | Estimated Net | |||||||
Amortization | Increase to | |||||||
of In-Place | Rental Revenues | |||||||
Leases and Tenant | Related to | |||||||
Relationships | Above and Below | |||||||
Market Leases | ||||||||
2014 | $ | 4,972 | $ | 438 | ||||
2015 | $ | 4,329 | $ | 425 | ||||
2016 | $ | 3,270 | $ | 938 | ||||
2017 | $ | 2,976 | $ | 878 | ||||
2018 | $ | 2,076 | $ | 806 | ||||
Foreign Currency Transactions and Translation | ' | |||||||
Foreign Currency Transactions and Translation | ||||||||
At December 31, 2013, we owned a land parcel located in Toronto, Canada for which the functional currency was determined to be the Canadian dollar. The assets and liabilities related to this land parcel are translated to U.S. dollars from the Canadian dollar based on the current exchange rate prevailing at each balance sheet date. The income statement accounts related to this land parcel are translated using the average exchange rate for the period. The resulting translation adjustments are included in accumulated other comprehensive income. | ||||||||
Deferred Financing Costs | ' | |||||||
Deferred Financing Costs | ||||||||
Deferred financing costs include fees and costs incurred to obtain long-term financing. These fees and costs are being amortized over the terms of the respective loans. Accumulated amortization of deferred financing costs was $17,122 and $15,063 at December 31, 2013 and 2012, respectively. Unamortized deferred financing costs are written-off when debt is retired before the maturity date. | ||||||||
Investments in Joint Ventures | ' | |||||||
Investments in Joint Ventures | ||||||||
Investments in joint ventures represent our noncontrolling equity interests in our Joint Ventures. We account for our investments in joint ventures under the equity method of accounting, as we do not have a majority voting interest, operational control or financial control. Control is determined using accounting standards related to the consolidation of joint ventures and variable interest entities. In order to assess whether consolidation of a variable interest entity is required, an enterprise is required to qualitatively assess the determination of the primary beneficiary of a variable interest entity ("VIE") based on whether the entity (1) has the power to direct matters that most significantly impact the activities of the VIE and (2) has the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Additionally, they require an ongoing reconsideration of the primary beneficiary and provide a framework for the events that trigger a reassessment of whether an entity is a VIE. | ||||||||
Under the equity method of accounting, our share of earnings or losses of our Joint Ventures is reflected in income as earned and contributions or distributions increase or decrease our investments in joint ventures as paid or received, respectively. Differences between our carrying value of our investments in joint ventures and our underlying equity of such Joint Ventures are amortized over the respective lives of the underlying assets. | ||||||||
On a continuous basis, we assess whether there are any indicators that the value of our investments in joint ventures may be impaired. An investment is impaired if our estimate of the fair value of the investment is less than the carrying value of the investment, and such decline in fair value is deemed to be other than temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the fair value of the investment. Our estimates of fair value for each investment are based on a number of subjective assumptions that are subject to economic and market uncertainties including, among others, demand for space, market rental rates and operating costs, the discount rate used to value the cash flows of the properties, the capitalization rate used to estimate the terminal value of the underlying properties and the discount rate used to value the Joint Ventures’ debt. As these factors are difficult to predict and are subject to future events that may alter our assumptions, our fair values estimated in the impairment analyses may not be realized. | ||||||||
Stock Based Compensation | ' | |||||||
Stock Based Compensation | ||||||||
We measure compensation cost for all stock-based awards at fair value on the date of grant and recognize compensation expense over the service period for awards expected to vest. | ||||||||
Net income, net of preferred dividends and redemption of preferred stock, is allocated to common stockholders and participating securities based upon their proportionate share of weighted average shares plus weighted average participating securities. Participating securities are unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents. Restricted stock awards granted to employees and directors are considered participating securities as they receive non-forfeitable dividend or dividend equivalents at the same rate as common stock. See Note 10 for further disclosure about participating securities. | ||||||||
Revenue Recognition | ' | |||||||
Revenue Recognition | ||||||||
Rental income is recognized on a straight-line method under which contractual rent increases are recognized evenly over the lease term. Tenant recovery income includes payments from tenants for real estate taxes, insurance and other property operating expenses and is recognized as revenue in the same period the related expenses are incurred by us. | ||||||||
Revenue is generally recognized on payments received from tenants for early lease terminations upon the effective termination of a tenant’s lease and when we have no further obligations under the lease. | ||||||||
Interest income on notes receivable is recognized based on the accrual method unless a significant uncertainty of collection exists. If a significant uncertainty exists, interest income is recognized as collected. | ||||||||
We provide an allowance for doubtful accounts against the portion of tenant accounts receivable including deferred rent receivable, which is estimated to be uncollectible. Accounts receivable in the consolidated balance sheets are shown net of an allowance for doubtful accounts of $1,362 and $1,875 as of December 31, 2013 and 2012, respectively. Deferred rent receivable in the consolidated balance sheets is shown net of an allowance for doubtful accounts of $1,694 and $1,733 as of December 31, 2013 and 2012, respectively. For accounts receivable we deem uncollectible, we use the direct write-off method. | ||||||||
Gain on Sale of Real Estate | ' | |||||||
Gain on Sale of Real Estate | ||||||||
Gain on sale of real estate is recognized using the full accrual method, when appropriate. Gains relating to transactions which do not meet the full accrual method of accounting are deferred and recognized when the full accrual method of accounting criteria are met or by using the installment or deposit methods of profit recognition, as appropriate in the circumstances. As the assets are sold, their costs and related accumulated depreciation are written off with resulting gains or losses reflected in net income or loss. Estimated future costs to be incurred by us after completion of each sale are included in the determination of the gain on sales. | ||||||||
Notes Receivable | ' | |||||||
Notes Receivable | ||||||||
Notes receivable are primarily comprised of mortgage notes receivable that we have made in connection with sales of real estate assets. The notes receivable are recorded at fair value at the time of issuance. Discounts on notes receivable are accreted over the life of the related note receivable. Interest income is accrued as earned. Notes receivable are considered past due when a contractual payment is not remitted in accordance with the terms of the note agreement. On a quarterly basis, we evaluate the collectability of each mortgage note receivable on an individual basis based on various factors which may include payment history, expected fair value of the collateral and internal and external credit information. A loan is considered impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due under the existing contractual terms. When a loan is considered impaired, the amount of the loss accrual is calculated by comparing the carrying amount of the note receivable to the present value of expected future cash flows. Since the majority of our notes receivable are collateralized by a first mortgage, the loans have risk characteristics similar to the risks in owning commercial real estate. | ||||||||
Income Taxes | ' | |||||||
Income Taxes | ||||||||
We have elected to be taxed as a REIT under the Code. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of our adjusted taxable income to our stockholders. Management intends to continue to adhere to these requirements and to maintain our REIT status. As a REIT, we are entitled to a tax deduction for some or all of the dividends we pay to shareholders. Accordingly, we generally will not be subject to federal income taxes as long as we currently distribute to shareholders an amount equal to or in excess of our taxable income. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years. | ||||||||
REIT qualification reduces, but does not eliminate, the amount of state and local taxes we pay. In addition, our financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal, state and local income taxes. As a REIT, we may also be subject to certain federal excise and franchise taxes if we engage in certain types of transactions. A benefit/provision has been made for federal, state and local income taxes in the accompanying consolidated financial statements. In accordance with FASB’s guidance, the total benefit/provision has been separately allocated to income (loss) from continuing operations, income (loss) from discontinued operations and gain (loss) on sale of real estate. The provision for excise and franchise taxes has been reflected in general and administrative expense in the consolidated statements of operations and has not been separately stated due to its insignificance. | ||||||||
During 2005, we recorded a $745 franchise tax reserve related to a potential state franchise tax assessment for the 1996-2001 tax years. During the year ended December 31, 2011, we received a refund from the state, representing amounts paid during 2006 related to the 1996-2001 tax years. Based on the refund received and discussions with the taxing authorities, as of December 31, 2011, management believes that it is unlikely that any franchise tax amounts will be assessed by the state for such tax years. As such, during the year ended December 31, 2011, we reversed $745 of franchise taxes. Franchise taxes are recorded within general and administrative expense. | ||||||||
Earnings Per Share (EPS) | ' | |||||||
Earnings Per Share ("EPS") | ||||||||
Basic net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the sum of the weighted average number of common shares outstanding and any dilutive non-participating securities for the period. See Note 10 for further disclosure about EPS. | ||||||||
Derivative Financial Instruments | ' | |||||||
Derivative Financial Instruments | ||||||||
Historically, we have used interest rate protection agreements ("Agreements") to fix the interest rate on anticipated offerings of senior unsecured notes or convert floating rate debt and preferred stock to fixed rate. Receipts or payments that result from the settlement of Agreements used to fix the interest rate on anticipated offerings of senior unsecured notes are amortized over the life of the derivative or the life of the debt and included in interest expense. Receipts or payments resulting from Agreements used to convert floating rate debt to fixed rate debt are recognized as a component of interest expense. Agreements which qualify for hedge accounting are marked-to-market and any gain or loss that is effective is recognized in other comprehensive income (shareholders’ equity). Agreements which do not qualify for hedge accounting are marked-to-market and any gain or loss is recognized in net income (loss) immediately. Amounts accumulated in other comprehensive income during the hedge period are reclassified to earnings in the same period during which the forecasted transaction or hedged item affects net income (loss). The credit risks associated with Agreements are controlled through the evaluation and monitoring of the creditworthiness of the counterparty. In the event that the counterparty fails to meet the terms of Agreements, our exposure is limited to the current value of the interest rate differential, not the notional amount, and our carrying value of Agreements on the balance sheet. See Note 15 for more information on the Agreements. | ||||||||
Fair Value of Financial Instruments | ' | |||||||
Fair Value of Financial Instruments | ||||||||
Financial instruments other than our derivatives include tenant accounts receivable, notes receivable, accounts payable, other accrued expenses, mortgage loans payable, unsecured credit facility and senior unsecured notes. The fair values of the tenant accounts receivable, accounts payable and other accrued expenses approximate their carrying or contract values. See Note 6 for the fair values of the mortgage loans payable, unsecured credit facility and senior unsecured notes and see Note 4 for the fair value of our notes receivable. | ||||||||
Discontinued Operations | ' | |||||||
Discontinued Operations | ||||||||
The FASB’s guidance on financial reporting for the disposal of long lived assets requires that the results of operations and gains or losses on the sale of property or property held for sale be presented in discontinued operations if both of the following criteria are met: (a) the operations and cash flows of the property have been (or will be) eliminated from the ongoing operations of the Company as a result of the disposal transaction and (b) we will not have any significant continuing involvement in the operations of the property after the disposal transaction. The guidance also requires prior period results of operations for these properties to be reclassified and presented in discontinued operations in prior consolidated statements of operations. | ||||||||
Segment Reporting | ' | |||||||
Segment Reporting | ||||||||
Management views the Company as a single segment based on its method of internal reporting. | ||||||||
Recent Accounting Pronouncements | ' | |||||||
Recent Accounting Pronouncements | ||||||||
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, "Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income" ("ASU 2013-02"). ASU 2013-02 requires that public companies present, either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. ASU 2013-02 is effective for annual periods beginning after December 15, 2012, and is to be applied prospectively. The adoption of this guidance did not have a material impact on our consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Useful Lives of Depreciable Assets | ' | |||||||
Depreciation expense is computed using the straight-line method based on the following useful lives: | ||||||||
Years | ||||||||
Buildings and Improvements | 7 to 50 | |||||||
Land Improvements | 3 to 20 | |||||||
Furniture, Fixtures and Equipment | 4 to 10 | |||||||
Tenant Improvements | Shorter of Lease Term or Useful Life | |||||||
Deferred Leasing Intangibles Included in Total Assets | ' | |||||||
Deferred leasing intangibles, net of accumulated amortization, included in our total assets and total liabilities consist of the following: | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
In-Place Leases | $ | 15,676 | $ | 17,200 | ||||
Above Market Leases | 3,994 | 4,888 | ||||||
Tenant Relationships | 10,120 | 11,102 | ||||||
Total Included in Total Assets, Net of $30,017 and $36,327 of Accumulated Amortization | $ | 29,790 | $ | 33,190 | ||||
Below Market Leases | $ | 13,626 | $ | 15,522 | ||||
Total Included in Total Liabilities, Net of $8,240 and $9,389 of Accumulated Amortization | $ | 13,626 | $ | 15,522 | ||||
Net Amortization Expense Related to Deferred Leasing Intangibles | ' | |||||||
We will recognize net amortization related to deferred leasing intangibles over the next five years, for properties owned as of December 31, 2013 as follows: | ||||||||
Estimated | Estimated Net | |||||||
Amortization | Increase to | |||||||
of In-Place | Rental Revenues | |||||||
Leases and Tenant | Related to | |||||||
Relationships | Above and Below | |||||||
Market Leases | ||||||||
2014 | $ | 4,972 | $ | 438 | ||||
2015 | $ | 4,329 | $ | 425 | ||||
2016 | $ | 3,270 | $ | 938 | ||||
2017 | $ | 2,976 | $ | 878 | ||||
2018 | $ | 2,076 | $ | 806 | ||||
Investment_in_Real_Estate_Tabl
Investment in Real Estate (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Real Estate Investment Property, Net [Abstract] | ' | |||||||||||
Summary of Intangible Assets (Liabilities) Subject to Amortization in Period of Acquisition | ' | |||||||||||
The fair value at the date of acquisition of in-place leases, tenant relationships and below market leases recorded due to the real estate properties acquired for the years ended December 31, 2013 and 2012, which are recorded as deferred leasing intangibles, are as follows: | ||||||||||||
Year Ended | Year Ended | |||||||||||
December 31, | December 31, | |||||||||||
2013 | 2012 | |||||||||||
In-Place Leases | $ | 2,807 | $ | 1,750 | ||||||||
Tenant Relationships | $ | 1,914 | $ | 1,012 | ||||||||
Below Market Leases | $ | (188 | ) | $ | (102 | ) | ||||||
The weighted average life in months of in-place leases, tenant relationships and below market leases recorded at the time of acquisition as a result of the real estate properties acquired for the years ended December 31, 2013 and 2012 is as follows: | ||||||||||||
Year Ended | Year Ended | |||||||||||
December 31, | December 31, | |||||||||||
2013 | 2012 | |||||||||||
In-Place Leases | 52 | 118 | ||||||||||
Tenant Relationships | 112 | 178 | ||||||||||
Below Market Leases | 52 | 118 | ||||||||||
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 years ended December 31, 2013, 2012 and 2011: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Total Revenues | $ | 10,955 | $ | 21,649 | $ | 32,079 | ||||||
Property Expenses | (4,450 | ) | (8,879 | ) | (12,947 | ) | ||||||
Impairment of Real Estate | (1,605 | ) | (1,438 | ) | (6,214 | ) | ||||||
Depreciation and Amortization | (3,647 | ) | (7,834 | ) | (8,505 | ) | ||||||
Interest Expense | — | — | (63 | ) | ||||||||
Gain on Sale of Real Estate | 34,344 | 12,665 | 20,419 | |||||||||
Provision for Income Taxes | — | — | (1,246 | ) | ||||||||
Income from Discontinued Operations | $ | 35,597 | $ | 16,163 | $ | 23,523 | ||||||
Net Non-Cash Impairment Charges | ' | |||||||||||
During the years ended December 31, 2013, 2012 and 2011, we recorded the following net non-cash impairment charges (reversals): | ||||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
Sold Operating Properties | $ | 1,605 | $ | 1,438 | $ | 6,214 | ||||||
Impairment—Discontinued Operations | $ | 1,605 | $ | 1,438 | $ | 6,214 | ||||||
Sold Land Parcels | $ | — | $ | — | $ | (5,918 | ) | |||||
Operating Properties Not Held for Sale | 1,047 | (192 | ) | (1,755 | ) | |||||||
Land Parcels | — | — | (1,202 | ) | ||||||||
Impairment—Continuing Operations | $ | 1,047 | $ | (192 | ) | $ | (8,875 | ) | ||||
Total Net Impairment | $ | 2,652 | $ | 1,246 | $ | (2,661 | ) | |||||
Investments_in_Joint_Ventures_
Investments in Joint Ventures (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||||||
Condensed Combined Balance Sheets | ' | |||||||||||
The combined summarized financial information of the investments in Joint Ventures is as follows: | ||||||||||||
December 31, | December 31, | |||||||||||
2013 | 2012 | |||||||||||
Condensed Combined Balance Sheets: | ||||||||||||
Gross Investment in Real Estate | $ | 28,389 | $ | 115,488 | ||||||||
Less: Accumulated Depreciation | (4,253 | ) | (38,535 | ) | ||||||||
Net Investment in Real Estate | 24,136 | 76,953 | ||||||||||
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $40,387 and $0 | 48,408 | — | ||||||||||
Other Assets | 7,690 | 17,327 | ||||||||||
Total Assets | $ | 80,234 | $ | 94,280 | ||||||||
Indebtedness | $ | 24,656 | $ | 81,764 | ||||||||
Other Liabilities | 1,615 | 4,817 | ||||||||||
Indebtedness, Accrued Interest Expense and Leasing Intangibles Held for Sale, Net of Accumulated Amortization of $3,208 and $0 | 48,651 | — | ||||||||||
Equity | 5,312 | 7,699 | ||||||||||
Total Liabilities and Equity | $ | 80,234 | $ | 94,280 | ||||||||
Company’s Share of Equity | $ | 896 | $ | 1,252 | ||||||||
Basis Differentials(1) | (200 | ) | (448 | ) | ||||||||
Carrying Value of the Company’s Investments in Joint Ventures | $ | 696 | $ | 804 | ||||||||
_______________ | ||||||||||||
-1 | This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level. Basis differentials are primarily comprised of impairments we recorded to reduce certain of our investments in the 2003 Net Lease Joint Venture to fair value and certain deferred fees which are not reflected at the joint venture level. | |||||||||||
Condensed Combined Statements of Operations | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Condensed Combined Statements of Operations: | ||||||||||||
Total Revenues | $ | 3,433 | $ | 3,371 | $ | 3,411 | ||||||
Expenses: | ||||||||||||
Property Expenses and Other | 1,070 | 1,096 | 1,226 | |||||||||
Depreciation and Other Amortization | 931 | 764 | 836 | |||||||||
Interest Expense | 1,532 | 1,633 | 1,643 | |||||||||
Total Expenses | 3,533 | 3,493 | 3,705 | |||||||||
Discontinued Operations: | ||||||||||||
Loss Attributable to Discontinued Operations | (1,300 | ) | (1,607 | ) | (1,587 | ) | ||||||
Gain on Sale of Real Estate | 513 | 4,974 | 3,137 | |||||||||
(Loss) Income from Discontinued Operations | (787 | ) | 3,367 | 1,550 | ||||||||
Net (Loss) Income | $ | (887 | ) | $ | 3,245 | $ | 1,256 | |||||
Equity in Income of Joint Ventures | $ | 136 | $ | 1,559 | $ | 980 | ||||||
Indebtedness_Tables
Indebtedness (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||||||
Information Regarding Indebtedness | ' | |||||||||||||||||||||||
The following table discloses certain information regarding our indebtedness: | ||||||||||||||||||||||||
Outstanding Balance at | Interest | Effective | Maturity | |||||||||||||||||||||
Rate at | Interest | Date | ||||||||||||||||||||||
December 31, | Rate at | |||||||||||||||||||||||
December 31, | December 31, | 2013 | Issuance | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Mortgage Loans Payable, Net | $ | 677,890 | $ | 763,616 | 4.03% – 8.26% | 4.03% – 8.26% | October 2014 – | |||||||||||||||||
Sep-22 | ||||||||||||||||||||||||
Unamortized Premiums | (115 | ) | (161 | ) | ||||||||||||||||||||
Mortgage Loans Payable, Gross | $ | 677,775 | $ | 763,455 | ||||||||||||||||||||
Senior Unsecured Notes, Net | ||||||||||||||||||||||||
2016 Notes | $ | 159,566 | $ | 159,510 | 5.75% | 5.91% | 1/15/16 | |||||||||||||||||
2017 Notes | 54,960 | 55,385 | 7.50% | 7.52% | 12/1/17 | |||||||||||||||||||
2027 Notes | 6,066 | 6,066 | 7.15% | 7.11% | 5/15/27 | |||||||||||||||||||
2028 Notes | 31,883 | 55,261 | 7.60% | 8.13% | 7/15/28 | |||||||||||||||||||
2032 Notes | 10,514 | 11,500 | 7.75% | 7.87% | 4/15/32 | |||||||||||||||||||
2014 Notes | 81,149 | 79,683 | 6.42% | 6.54% | 6/1/14 | |||||||||||||||||||
2017 II Notes | 101,778 | 106,745 | 5.95% | 6.37% | 5/15/17 | |||||||||||||||||||
Subtotal | $ | 445,916 | $ | 474,150 | ||||||||||||||||||||
Unamortized Discounts | 980 | 2,570 | ||||||||||||||||||||||
Senior Unsecured Notes, Gross | $ | 446,896 | $ | 476,720 | ||||||||||||||||||||
Unsecured Credit Facility* | $ | 173,000 | $ | 98,000 | 1.67% | 1.67% | 9/29/17 | |||||||||||||||||
* The maturity date may be extended an additional year at our election, subject to certain restrictions. | ||||||||||||||||||||||||
Mortgage Loans Originated | ' | |||||||||||||||||||||||
During the year ended December 31, 2012, we originated the following mortgage loans: | ||||||||||||||||||||||||
Mortgage | Loan | Interest | Origination | Maturity | Amortization | Number of | GLA | Properties | ||||||||||||||||
Financing | Principal | Rate | Date | Date | Period | Industrial | (In millions) | Carrying | ||||||||||||||||
Properties | Value at | |||||||||||||||||||||||
Collateralizing | December 31, | |||||||||||||||||||||||
Mortgage | 2012 | |||||||||||||||||||||||
I-VI | $ | 100,599 | 4.03 | % | Aug-12 | Sep-22 | 30-year | 31 | 3.8 | $ | 103,671 | |||||||||||||
Senior Unsecured Notes Repurchases | ' | |||||||||||||||||||||||
During the years ended December 31, 2013 and 2012, we repurchased and retired the following senior unsecured notes prior to maturity: | ||||||||||||||||||||||||
Principal Amount Repurchased | Purchase Price | |||||||||||||||||||||||
For the | For the | For the | For the | |||||||||||||||||||||
Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||
December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
2014 Notes | $ | — | $ | 9,000 | $ | — | $ | 9,439 | ||||||||||||||||
2017 Notes | 430 | 4,223 | 482 | 4,632 | ||||||||||||||||||||
2017 II Notes | 5,000 | — | 5,300 | — | ||||||||||||||||||||
2028 Notes | 23,394 | 69,680 | 26,547 | 72,541 | ||||||||||||||||||||
2032 Notes | 1,000 | 23,400 | 1,163 | 24,001 | ||||||||||||||||||||
Total | $ | 29,824 | $ | 106,303 | $ | 33,492 | $ | 110,613 | ||||||||||||||||
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 ending December 31, and thereafter: | ||||||||||||||||||||||||
Amount | ||||||||||||||||||||||||
2014 | $ | 113,321 | ||||||||||||||||||||||
2015 | 37,762 | |||||||||||||||||||||||
2016 | 272,618 | |||||||||||||||||||||||
2017 | 341,723 | |||||||||||||||||||||||
2018 | 168,341 | |||||||||||||||||||||||
Thereafter | 363,906 | |||||||||||||||||||||||
Total | $ | 1,297,671 | ||||||||||||||||||||||
Summary of Indebtedness at Estimated Fair Value | ' | |||||||||||||||||||||||
At December 31, 2013 and 2012, the fair value of our indebtedness was as follows: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||||||||
Amount | Value | Amount | Value | |||||||||||||||||||||
Mortgage Loans Payable, Net | $ | 677,890 | $ | 684,914 | $ | 763,616 | $ | 814,915 | ||||||||||||||||
Senior Unsecured Debt, Net | 445,916 | 482,781 | 474,150 | 516,943 | ||||||||||||||||||||
Unsecured Credit Facility | 173,000 | 173,000 | 98,000 | 98,192 | ||||||||||||||||||||
Total | $ | 1,296,806 | $ | 1,340,695 | $ | 1,335,766 | $ | 1,430,050 | ||||||||||||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||
Summary of Preferred Shares Outstanding and Liquidation Preference | ' | |||||||||||||
The following table summarizes the preferred shares outstanding at December 31, 2013 and 2012: | ||||||||||||||
Year Ended 2013 | Year Ended 2012 | |||||||||||||
Shares | Liquidation | Shares | Liquidation | |||||||||||
Outstanding | Preference | Outstanding | Preference | |||||||||||
Series F Preferred Stock | 500 | $ | 50,000 | 500 | $ | 50,000 | ||||||||
Series G Preferred Stock | 250 | $ | 25,000 | 250 | $ | 25,000 | ||||||||
Series J Preferred Stock | N/A | N/A | 400 | $ | 100,000 | |||||||||
Series K Preferred Stock | N/A | N/A | 200 | $ | 50,000 | |||||||||
Common Stock Outstanding, Including Unvested Restricted Shares of Common Stock | ' | |||||||||||||
The following table is a roll-forward of our shares of common stock outstanding, including unvested restricted shares of common stock (see Note 14), for the three years ended December 31, 2013: | ||||||||||||||
Shares of | ||||||||||||||
Common Stock | ||||||||||||||
Outstanding | ||||||||||||||
Balance at December 31, 2010 | 68,841,296 | |||||||||||||
Issuance of Common Stock, Including Vesting of Restricted Stock Units | 17,646,586 | |||||||||||||
Issuance of Restricted Stock Shares | 292,339 | |||||||||||||
Repurchase and Retirement of Restricted Stock Shares | (98,603 | ) | ||||||||||||
Conversion of Operating Partnership Units | 125,784 | |||||||||||||
Balance at December 31, 2011 | 86,807,402 | |||||||||||||
Issuance of Common Stock, Including Vesting of Restricted Stock Units | 11,085,905 | |||||||||||||
Issuance of Restricted Stock Shares | 565,137 | |||||||||||||
Repurchase and Retirement of Restricted Stock Shares | (225,557 | ) | ||||||||||||
Conversion of Operating Partnership Units | 535,026 | |||||||||||||
Balance at December 31, 2012 | 98,767,913 | |||||||||||||
Issuance of Common Stock, Including Vesting of Restricted Stock Units | 10,853,693 | |||||||||||||
Issuance of Restricted Stock Shares | 284,461 | |||||||||||||
Repurchase and Retirement of Restricted Stock Shares | (30,245 | ) | ||||||||||||
Conversion of Operating Partnership Units | 105,028 | |||||||||||||
Balance at December 31, 2013 | 109,980,850 | |||||||||||||
Summary of Dividend Distributions | ' | |||||||||||||
The following table summarizes dividends/distributions accrued during the past three years: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Total | Total | Total | ||||||||||||
Dividend/ | Dividend/ | Dividend/ | ||||||||||||
Distribution * | Distribution * | Distribution | ||||||||||||
Common Stock/Operating Partnership Units | $ | 38,862 | $ | — | $ | — | ||||||||
Series F Preferred Stock | $ | 2,896 | $ | 2,728 | $ | 3,256 | ||||||||
Series G Preferred Stock | $ | 1,809 | $ | 1,809 | $ | 1,809 | ||||||||
Series J Preferred Stock | $ | 2,034 | $ | 10,785 | $ | 10,875 | ||||||||
Series K Preferred Stock | $ | 1,994 | $ | 3,625 | $ | 3,625 | ||||||||
_______________ | ||||||||||||||
* | The second quarter 2013 and fourth quarter 2012 dividend related to redeemed Series J Preferred Stock was pro-rated as discussed in the "Preferred Stock" section. The third quarter 2013 dividend related to redeemed Series K Preferred Stock was pro-rated as discussed in the "Preferred Stock" section. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Accumulated Other Comprehensive Loss [Abstract] | ' | |||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||
The following tables summarize the changes in accumulated other comprehensive loss by component and the reclassifications out of accumulated other comprehensive loss for the year ended December 31, 2013: | ||||||||||||||||
Interest Rate Protection Agreements | Foreign Currency Translation Adjustment | Comprehensive Income (Loss) Attributable to Noncontrolling Interest | Total | |||||||||||||
Balance as of December 31, 2012 | $ | (7,008 | ) | $ | 138 | $ | 313 | $ | (6,557 | ) | ||||||
Other Comprehensive Loss Before Reclassifications | — | (60 | ) | (175 | ) | (235 | ) | |||||||||
Amounts Reclassified from Accumulated Other Comprehensive Loss | 3,527 | — | — | 3,527 | ||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 3,527 | (60 | ) | (175 | ) | 3,292 | ||||||||||
Balance as of December 31, 2013 | $ | (3,481 | ) | $ | 78 | $ | 138 | $ | (3,265 | ) | ||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||
Details about Accumulated Other Comprehensive Loss Components | Amount Reclassified from Accumulated Other Comprehensive Loss | Affected Line Item in the Consolidated Statements of Operations | ||||||||||||||
Interest Rate Protection Agreements | ||||||||||||||||
Amortization of Interest Rate Protection Agreements | $ | 2,411 | Interest Expense | |||||||||||||
Write-off of Unamortized Settlement Amounts of Interest Rate Protection Agreements | 1,116 | Loss from Retirement of Debt | ||||||||||||||
$ | 3,527 | Total | ||||||||||||||
Supplemental_Information_to_St1
Supplemental Information to Statements of Cash Flows (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Cash Flow Information | ' | |||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
Interest Paid, Net of Interest Expense Capitalized in Connection with Development Activity | $ | 70,726 | $ | 83,504 | $ | 100,375 | ||||||
Interest Expense Capitalized in Connection with Development Activity | $ | 3,611 | $ | 1,997 | $ | 437 | ||||||
Income Taxes Paid (Refunded) | $ | 5,433 | $ | (295 | ) | $ | 1,876 | |||||
Supplemental Schedule of Non-Cash Investing and Financing Activities: | ||||||||||||
Distribution Payable on Common Stock/Operating Partnership Units | $ | 9,837 | $ | — | $ | — | ||||||
Distribution Payable on Preferred Stock | $ | 452 | $ | 452 | $ | 4,763 | ||||||
Exchange of Operating Partnership Units for Common Stock: | ||||||||||||
Noncontrolling Interest | $ | (996 | ) | $ | (4,763 | ) | $ | (1,109 | ) | |||
Common Stock | 1 | 5 | 1 | |||||||||
Additional Paid-in-Capital | 995 | 4,758 | 1,108 | |||||||||
Total | $ | — | $ | — | $ | — | ||||||
Property Transfer to Lender in Satisfaction of Non-Recourse Mortgage Loan: | ||||||||||||
Net Investment in Real Estate | $ | — | $ | — | $ | (3,200 | ) | |||||
Prepaid Expenses and Other Assets, Net | — | — | (1,987 | ) | ||||||||
Mortgage Loan Payable, Net | — | — | 5,040 | |||||||||
Loss from Retirement of Debt | $ | — | $ | — | $ | (147 | ) | |||||
Assumption of Indebtedness and Other Liabilities in Real Estate Acquisitions | $ | 483 | $ | 12,026 | $ | 24,417 | ||||||
Notes Receivable Issued in Conjunction with Certain Property Sales | $ | 12,520 | $ | — | $ | 7,029 | ||||||
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate | $ | 15,249 | $ | 12,524 | $ | 6,517 | ||||||
Write-off of Fully Depreciated Assets | $ | (62,281 | ) | $ | (46,801 | ) | $ | (58,357 | ) |
Earnings_Per_Share_EPS_Tables
Earnings Per Share (EPS) (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Computation of Basic and Diluted Earnings Per Share | ' | |||||||||||
The computation of basic and diluted EPS is presented below: | ||||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator: | ||||||||||||
Income (Loss) from Continuing Operations | $ | 4,941 | $ | (22,459 | ) | $ | (33,631 | ) | ||||
Gain on Sale of Real Estate, Net of Income Tax Provision | 890 | 3,777 | 918 | |||||||||
Noncontrolling Interest Allocable to Continuing Operations | 356 | 2,038 | 3,185 | |||||||||
Income (Loss) from Continuing Operations Attributable to First Industrial Realty Trust, Inc. | 6,187 | (16,644 | ) | (29,528 | ) | |||||||
Preferred Dividends | (8,733 | ) | (18,947 | ) | (19,565 | ) | ||||||
Redemption of Preferred Stock | (5,667 | ) | (1,804 | ) | — | |||||||
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (8,213 | ) | $ | (37,395 | ) | $ | (49,093 | ) | |||
Income from Discontinued Operations, Net of Income Tax Provision | $ | 35,597 | $ | 16,163 | $ | 23,523 | ||||||
Noncontrolling Interest Allocable to Discontinued Operations | (1,477 | ) | (837 | ) | (1,440 | ) | ||||||
Income from Discontinued Operations Allocable to Participating Securities | (162 | ) | — | — | ||||||||
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc. | $ | 33,958 | $ | 15,326 | $ | 22,083 | ||||||
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities | $ | 25,907 | $ | (22,069 | ) | $ | (27,010 | ) | ||||
Net Income Allocable to Participating Securities | (162 | ) | — | — | ||||||||
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | 25,745 | (22,069 | ) | (27,010 | ) | |||||||
Denominator: | ||||||||||||
Weighted Average Shares—Basic and Diluted | 106,995 | 91,468 | 80,616 | |||||||||
Basic and Diluted EPS: | ||||||||||||
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.08 | ) | $ | (0.41 | ) | $ | (0.61 | ) | |||
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.32 | $ | 0.17 | $ | 0.27 | ||||||
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.24 | $ | (0.24 | ) | $ | (0.34 | ) | ||||
Non-Participating Securities | ' | |||||||||||
The following awards could be dilutive in future periods: | ||||||||||||
Number of | Number of | Number of | ||||||||||
Awards | Awards | Awards | ||||||||||
Outstanding At | Outstanding At | Outstanding At | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
Non-Participating Securities: | ||||||||||||
Restricted Unit Awards | 73,400 | 483,500 | 731,900 | |||||||||
Options | — | — | 25,201 | |||||||||
LTIP Unit Awards | 718,960 | — | — | |||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||
Components of Current / Deferred Income Tax Benefit (Provision) | ' | ||||||||||||||||||||
The components of income tax benefit (provision) for the years ended December 31, 2013, 2012 and 2011 are comprised of the following: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Current: | |||||||||||||||||||||
Federal | $ | 231 | $ | (5,210 | ) | $ | (622 | ) | |||||||||||||
State | (264 | ) | (253 | ) | (502 | ) | |||||||||||||||
Foreign | — | (10 | ) | (41 | ) | ||||||||||||||||
Deferred: | |||||||||||||||||||||
Federal | — | — | (284 | ) | |||||||||||||||||
State | 36 | (49 | ) | (2 | ) | ||||||||||||||||
Foreign | — | — | (697 | ) | |||||||||||||||||
$ | 3 | $ | (5,522 | ) | $ | (2,148 | ) | ||||||||||||||
Deferred Tax Assets (Liabilities) | ' | ||||||||||||||||||||
Deferred income taxes represent the tax effect of the temporary differences between the book and tax basis of assets and liabilities. Deferred tax assets (liabilities) include the following as of December 31, 2013 and 2012: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Impairment of Real Estate | $ | 5,185 | $ | 5,519 | |||||||||||||||||
Foreign Net Operating Loss Carryforward | 1,312 | 854 | |||||||||||||||||||
Valuation Allowance | (5,357 | ) | (5,244 | ) | |||||||||||||||||
Other | 696 | 617 | |||||||||||||||||||
Total Deferred Tax Assets, Net of Allowance | $ | 1,836 | $ | 1,746 | |||||||||||||||||
Straight-line Rent | (76 | ) | (91 | ) | |||||||||||||||||
Fixed Assets | (1,771 | ) | (1,666 | ) | |||||||||||||||||
Other | (122 | ) | (158 | ) | |||||||||||||||||
Total Deferred Tax Liabilities | $ | (1,969 | ) | $ | (1,915 | ) | |||||||||||||||
Total Net Deferred Tax Liabilities | $ | (133 | ) | $ | (169 | ) | |||||||||||||||
Income Tax Benefit (Provision) Pertaining to Income from Continuing Operations and Gain on Sale of Real Estate | ' | ||||||||||||||||||||
The income tax benefit (provision) pertaining to income (loss) from continuing operations and gain on sale of real estate differs from the amounts computed by applying the applicable federal statutory rate as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Tax Benefit (Provision) at Federal Rate Related to Continuing Operations | $ | 286 | $ | 557 | $ | (2,162 | ) | ||||||||||||||
State Tax Provision, Net of Federal Benefit (Provision) | (236 | ) | (244 | ) | (521 | ) | |||||||||||||||
Non-deductible Permanent Items, Net | 21 | 32 | (54 | ) | |||||||||||||||||
IRS Audit Adjustment and Accrued Interest | 58 | (5,523 | ) | — | |||||||||||||||||
Change in Valuation Allowance | (388 | ) | (166 | ) | 1,853 | ||||||||||||||||
Foreign Taxes, Net | — | (10 | ) | (96 | ) | ||||||||||||||||
Other | 262 | (168 | ) | 78 | |||||||||||||||||
Net Income Tax Benefit (Provision) | $ | 3 | $ | (5,522 | ) | $ | (902 | ) | |||||||||||||
Preferred Distributions Per Depositary Share | ' | ||||||||||||||||||||
For income tax purposes, distributions paid to common shareholders are classified as ordinary income, capital gain, return of capital or qualified dividends. We did not pay common share distributions for the years ended December 31, 2012 and 2011. For the year ended December 31, 2013, the distributions per common share were classified as follows: | |||||||||||||||||||||
Common Stock | 2013 | As a | |||||||||||||||||||
Percentage | |||||||||||||||||||||
of | |||||||||||||||||||||
Distributions | |||||||||||||||||||||
Ordinary Income | $ | 0.3088 | 100 | % | |||||||||||||||||
Long-term Capital Gains | — | 0 | % | ||||||||||||||||||
Unrecaptured Section 1250 Gain | — | 0 | % | ||||||||||||||||||
Return of Capital | — | 0 | % | ||||||||||||||||||
Qualified Dividends | — | 0 | % | ||||||||||||||||||
$ | 0.3088 | 100 | % | ||||||||||||||||||
For income tax purposes, distributions paid to preferred shareholders are classified as ordinary income, capital gain, return of capital or qualified dividends. For the years ended December 31, 2013, 2012 and 2011, the preferred distributions per depositary share were classified as follows: | |||||||||||||||||||||
Series J Preferred Stock | 2013 (1) | As a | 2012 | As a | 2011 | As a | |||||||||||||||
Percentage | Percentage | Percentage | |||||||||||||||||||
of | of | of | |||||||||||||||||||
Distributions (1) | Distributions | Distributions | |||||||||||||||||||
Ordinary Income | $ | 0.5085 | 100 | % | $ | — | 0 | % | $ | 0.313 | 23.02 | % | |||||||||
Long-term Capital Gains | — | 0 | % | 0.8025 | 35.42 | % | — | 0 | % | ||||||||||||
Unrecaptured Section 1250 Gain | — | 0 | % | — | 0 | % | — | 0 | % | ||||||||||||
Return of Capital | — | 0 | % | 1.4632 | 64.58 | % | 1.0402 | 76.52 | % | ||||||||||||
Qualified Dividends | — | 0 | % | — | 0 | % | 0.0062 | 0.46 | % | ||||||||||||
$ | 0.5085 | 100 | % | $ | 2.2657 | 100 | % | $ | 1.3594 | 100 | % | ||||||||||
________________ | |||||||||||||||||||||
-1 | The remaining 4,000,000 Depositary Shares of the Series J Preferred Stock were redeemed on April 11, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above. | ||||||||||||||||||||
Series J Preferred Stock – Depositary Shares Redeemed (2) | 2012 | As a | |||||||||||||||||||
Percentage | |||||||||||||||||||||
of | |||||||||||||||||||||
Distributions | |||||||||||||||||||||
Ordinary Income | $ | — | 0 | % | |||||||||||||||||
Long-term Capital Gains | 0.7864 | 35.42 | % | ||||||||||||||||||
Unrecaptured Section 1250 Gain | — | 0 | % | ||||||||||||||||||
Return of Capital | 1.4339 | 64.58 | % | ||||||||||||||||||
Qualified Dividends | — | 0 | % | ||||||||||||||||||
$ | 2.2203 | 100 | % | ||||||||||||||||||
________________ | |||||||||||||||||||||
-2 | Schedule relates to the 2,000,000 Depositary Shares of the Series J Preferred Stock that were redeemed on December 21, 2012. The 2012 redemption had no impact on the 2011 allocation. | ||||||||||||||||||||
Series K Preferred Stock | 2013 (3) | As a | 2012 | As a | 2011 | As a | |||||||||||||||
Percentage | Percentage | Percentage | |||||||||||||||||||
of | of | of | |||||||||||||||||||
Distributions (3) | Distributions | Distributions | |||||||||||||||||||
Ordinary Income | $ | 0.9969 | 100 | % | $ | — | 0 | % | $ | 0.313 | 23.02 | % | |||||||||
Long-term Capital Gains | — | 0 | % | 0.8025 | 35.42 | % | — | 0 | % | ||||||||||||
Unrecaptured Section 1250 Gain | — | 0 | % | — | 0 | % | — | 0 | % | ||||||||||||
Return of Capital | — | 0 | % | 1.4632 | 64.58 | % | 1.0402 | 76.52 | % | ||||||||||||
Qualified Dividends | — | 0 | % | — | 0 | % | 0.0062 | 0.46 | % | ||||||||||||
$ | 0.9969 | 100 | % | $ | 2.2657 | 100 | % | $ | 1.3594 | 100 | % | ||||||||||
________________ | |||||||||||||||||||||
-3 | Schedule relates to the 2,000,000 Depositary Shares of the Series K Preferred Stock that were redeemed on July 18, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above. |
Future_Rental_Revenues_Tables
Future Rental Revenues (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Operating Leases, Future Minimum Payments Receivable [Abstract] | ' | |||
Minimum Lease Payments Receivable, Excluding Tenant Reimbursements of Expenses, Under Non-Cancelable Operating Leases | ' | |||
Minimum lease payments receivable, excluding tenant reimbursements of expenses, under non-cancelable operating leases in effect as of December 31, 2013 are approximately as follows: | ||||
2014 | $ | 242,261 | ||
2015 | 210,117 | |||
2016 | 167,903 | |||
2017 | 134,636 | |||
2018 | 102,717 | |||
Thereafter | 298,738 | |||
Total | $ | 1,156,372 | ||
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Share-based Compensation [Abstract] | ' | ||||||
Schedule of Share-based Payment Award: Valuation Assumptions | ' | ||||||
As mentioned above, the fair value of the LTIP Unit Awards at issuance was determined by a lattice-binomial option-pricing model based on a Monte Carlo simulation using the following assumptions: | |||||||
Expected dividend yield | 2.22 | % | |||||
Expected volatility - range used | 24.28% - 34.66% | ||||||
Expected volatility - weighted average | 30.61 | % | |||||
Risk-free interest rate | 0.03% - 0.71% | ||||||
Expected term | 1 - 2.5 years | ||||||
Summary of Restricted Stock Award and Restricted Stock Unit Award Transactions | ' | ||||||
Restricted stock and unit award and LTIP Unit Award transactions for the year ended December 31, 2013 are summarized as follows: | |||||||
Awards | Weighted | ||||||
Average | |||||||
Grant Date | |||||||
Fair Value | |||||||
Outstanding at December 31, 2012 (Restricted Stock and Unit) | 772,127 | $ | 7.02 | ||||
Issued (Restricted Stock and Unit and LTIP Unit Award) | 1,003,421 | $ | 10.1 | ||||
Forfeited (Restricted Stock and Unit) | (201,719 | ) | $ | 4.58 | |||
Vested (Restricted Stock and Unit) | (292,608 | ) | $ | 7.41 | |||
Outstanding at December 31, 2013 (Restricted Stock and Unit and LTIP Unit Award) | 1,281,221 | $ | 9.72 | ||||
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||
Summary of Derivatives and Fair Values | ' | |||||||||||||||||
The following is a summary of the terms of our Series F Agreement and its fair value, which is included in accounts payable, accrued expenses and other liabilities on the accompanying consolidated balance sheets: | ||||||||||||||||||
Hedge Product | Notional | Strike | Trade | Maturity | Fair Value | Fair Value | ||||||||||||
Amount | Date | Date | As of | As of | ||||||||||||||
December 31, | December 31, | |||||||||||||||||
2013 | 2012 | |||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||
Series F Agreement* | $ | 50,000 | 5.2175 | % | October 1, 2008 | October 1, 2013 | N/A | $ | (826 | ) | ||||||||
_______________ | ||||||||||||||||||
* | Fair value excludes quarterly settlement payment due on Series F Agreement. As of December 31, 2012, the outstanding payable was $305. | |||||||||||||||||
Summary of Impact of Derivatives in Cash Flow Hedging Relationships on Statement of Operations and Statement of OCI | ' | |||||||||||||||||
The following is a summary of the impact of the derivatives in cash flow hedging relationships on the statements of operations and the statements of OCI for the years ended December 31, 2013 and 2012: | ||||||||||||||||||
Year Ended | ||||||||||||||||||
Interest Rate Products | Location on Statement | December 31, 2013 | December 31, 2012 | |||||||||||||||
Amortization Reclassified from OCI into Income (Loss) | Interest Expense | $ | (2,411 | ) | $ | (2,271 | ) | |||||||||||
Fair Value Measurements on Recurring Basis | ' | |||||||||||||||||
The following table sets forth our financial liability related to the Series F Agreement that is accounted for at fair value on a recurring basis as of December 31, 2012: | ||||||||||||||||||
Fair Value Measurements at Reporting Date Using: | ||||||||||||||||||
Description | Fair Value | Quoted Prices in | Significant Other | Unobservable | ||||||||||||||
Active Markets for | Observable Inputs | Inputs | ||||||||||||||||
Identical Assets | (Level 2) | (Level 3) | ||||||||||||||||
(Level 1) | ||||||||||||||||||
Liabilities: | ||||||||||||||||||
Series F Agreement at December 31, 2012 | $ | (826 | ) | — | — | $ | (826 | ) | ||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ' | |||||||||||||||||
The following table presents the quantitative information about the Level 3 fair value measurements at December 31, 2012: | ||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements: | ||||||||||||||||||
Description | Fair Value | Valuation Technique | Unobservable Inputs | Range | ||||||||||||||
Series F Agreement at December 31, 2012 | $ | (826 | ) | Discounted Cash Flow | Long Dated Treasuries (A) | 2.82% - 2.91% | ||||||||||||
Own Credit Risk (B) | 0.98% - 1.59% | |||||||||||||||||
________________ | ||||||||||||||||||
(A) Represents the forward 30 year Treasury CMT Rate. | ||||||||||||||||||
(B) Represents credit default swap spread curve used in the valuation analysis at December 31, 2012. | ||||||||||||||||||
Reconciliation of Liabilities Classified as Level 3 | ' | |||||||||||||||||
The following table presents a reconciliation of our liability classified as Level 3 at December 31, 2013 and 2012: | ||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||
Using Significant | ||||||||||||||||||
Unobservable Inputs | ||||||||||||||||||
(Level 3) Derivatives | ||||||||||||||||||
Ending Liability Balance at December 31, 2011 | $ | (1,667 | ) | |||||||||||||||
Mark-to-Market of the Series F Agreement | 841 | |||||||||||||||||
Ending Liability Balance at December 31, 2012 | $ | (826 | ) | |||||||||||||||
Mark-to-Market of the Series F Agreement | 826 | |||||||||||||||||
Ending Liability Balance at December 31, 2013 | $ | — | ||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Future minimum rental payments under the terms of all non-cancelable ground and operating leases | ' | |||
Future minimum rental payments under the terms of all non-cancelable ground and operating leases under which we are the lessee as of December 31, 2013 are as follows: | ||||
2014 | $ | 1,824 | ||
2015 | 1,660 | |||
2016 | 1,673 | |||
2017 | 1,702 | |||
2018 | 1,100 | |||
Thereafter | 25,117 | |||
Total* | $ | 33,076 | ||
________________ | ||||
* | Minimum rental payments have not been reduced by minimum sublease rentals of $6,832 due in the future under non-cancelable subleases. |
Quarterly_Financial_Informatio1
Quarterly Financial Information (unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Quarterly Financial Information (unaudited) | ' | |||||||||||||||
The following tables summarize our quarterly financial information. The first, second and third fiscal quarters of 2013 and all fiscal quarters in 2012 have been revised in accordance with guidance on accounting for discontinued operations. Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities and basic and diluted EPS from Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders have not been affected. | ||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
Total Revenues | $ | 80,698 | $ | 82,098 | $ | 81,294 | $ | 84,136 | ||||||||
Equity in Income of Joint Ventures | 20 | 27 | 72 | 17 | ||||||||||||
Noncontrolling Interest Allocable to Continuing Operations | 128 | 293 | 39 | (67 | ) | |||||||||||
Income (Loss) from Continuing Operations, Net of Noncontrolling Interest | 1,027 | (984 | ) | 2,592 | 2,699 | |||||||||||
(Loss) Income from Discontinued Operations | (2,284 | ) | 12,639 | 5,919 | 19,323 | |||||||||||
Noncontrolling Interest Allocable to Discontinued Operations | 104 | (538 | ) | (246 | ) | (797 | ) | |||||||||
Gain on Sale of Real Estate, Net of Income Tax | 262 | — | 291 | 337 | ||||||||||||
Noncontrolling Interest Allocable to Gain on Sale of Real Estate | (12 | ) | — | (12 | ) | (13 | ) | |||||||||
Net (Loss) Income Attributable to First Industrial Realty Trust, Inc. | (903 | ) | 11,117 | 8,544 | 21,549 | |||||||||||
Preferred Dividends | (3,837 | ) | (2,277 | ) | (1,392 | ) | (1,227 | ) | ||||||||
Redemption of Preferred Stock | — | (3,546 | ) | (2,121 | ) | — | ||||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities | (4,740 | ) | 5,294 | 5,031 | 20,322 | |||||||||||
Income from Continuing Operations Allocable to Participating Securities | (36 | ) | — | — | (8 | ) | ||||||||||
Income from Discontinued Operations Allocable to Participating Securities | — | (42 | ) | (42 | ) | (82 | ) | |||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (4,776 | ) | $ | 5,252 | $ | 4,989 | $ | 20,232 | |||||||
Basic and Diluted Earnings Per Share: | ||||||||||||||||
(Loss) Income from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.03 | ) | $ | (0.06 | ) | $ | 0 | $ | 0.01 | ||||||
(Loss) Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.02 | ) | $ | 0.11 | $ | 0.05 | $ | 0.17 | |||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.05 | ) | $ | 0.05 | $ | 0.05 | $ | 0.18 | |||||||
Weighted Average Shares – Basic | 100,774 | 108,117 | 109,474 | 109,490 | ||||||||||||
LTIP Unit Awards | — | — | — | 485 | ||||||||||||
Weighted Average Units —Diluted | 100,774 | 108,117 | 109,474 | 109,975 | ||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
Total Revenues | $ | 77,523 | $ | 78,946 | $ | 76,636 | $ | 81,220 | ||||||||
Equity in Income of Joint Ventures | 91 | 37 | 28 | 1,403 | ||||||||||||
Noncontrolling Interest Allocable to Continuing Operations | 538 | 1,005 | 204 | 487 | ||||||||||||
Loss from Continuing Operations, Net of Noncontrolling Interest | (4,396 | ) | (12,502 | ) | (246 | ) | (3,081 | ) | ||||||||
Income from Discontinued Operations | 5,989 | 3,141 | 5,869 | 1,164 | ||||||||||||
Noncontrolling Interest Allocable to Discontinued Operations | (331 | ) | (167 | ) | (285 | ) | (54 | ) | ||||||||
Gain on Sale of Real Estate | — | — | 3,777 | — | ||||||||||||
Noncontrolling Interest Allocable to Gain on Sale of Real Estate | — | — | (196 | ) | — | |||||||||||
Net Income (Loss) Attributable to First Industrial Realty Trust, Inc. | 1,262 | (9,528 | ) | 8,919 | (1,971 | ) | ||||||||||
Preferred Dividends | (4,762 | ) | (4,798 | ) | (4,725 | ) | (4,662 | ) | ||||||||
Redemption of Preferred Stock | — | — | — | (1,804 | ) | |||||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities | (3,500 | ) | (14,326 | ) | 4,194 | (8,437 | ) | |||||||||
Income from Discontinued Operations Allocable to Participating Securities | — | — | (33 | ) | — | |||||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (3,500 | ) | $ | (14,326 | ) | $ | 4,161 | $ | (8,437 | ) | |||||
Basic and Diluted Earnings Per Share: | ||||||||||||||||
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.11 | ) | $ | (0.19 | ) | $ | (0.02 | ) | $ | (0.10 | ) | ||||
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.07 | $ | 0.03 | $ | 0.06 | $ | 0.01 | ||||||||
Net (Loss) Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | (0.04 | ) | $ | (0.16 | ) | $ | 0.04 | $ | (0.09 | ) | |||||
Weighted Average Shares – Basic and Diluted | 86,575 | 87,981 | 93,488 | 97,738 | ||||||||||||
Organization_and_Formation_of_1
Organization and Formation of Company - Additional Information (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | State |
sqft | |
Joint_Ventures | |
Property | |
Disclosure Organization And Formation Of Company Additional Information [Abstract] | ' |
General partner preferred units liquidation preference | $75,000 |
Ownership interest in general partner | 100.00% |
Number of industrial properties owned | 652 |
Number of states in which industrial properties are located | 25 |
Gross leasable area (GLA) of industrial properties owned | 63,000,000 |
Number of joint ventures | 2 |
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure Basis Of Presentation Additional Information [Abstract] | ' | ' |
Ownership interest of sole general partner | 96.00% | 95.50% |
Ownership interest of limited partners | 4.00% | 4.50% |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2005 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Adjustment to depreciation and amortization expense | $111,031 | $114,675 | $115,244 | ' |
Cash and cash equivalents | 'three months or less | ' | ' | ' |
Accumulated amortization deferred financing cost | 17,122 | 15,063 | ' | ' |
Allowance for doubtful accounts receivable | 1,362 | 1,875 | ' | ' |
Deferred rent receivable allowance amount | 1,694 | 1,733 | ' | ' |
Minimum percentage of taxable income to be distributed | 90.00% | ' | ' | ' |
Franchise tax reserve | ' | ' | 745 | 745 |
Amortization of In-Place Leases and Tenant Relationships | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Amortization expense | 6,153 | 7,024 | 10,550 | ' |
Amortization of Above and Below Market Leases | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Amortization expense | 572 | 797 | 1,456 | ' |
Restatement Adjustment [Member] | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Adjustment to depreciation and amortization expense | ($1,640) | $1,528 | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Useful Lives of Depreciable Assets (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum | Buildings and Improvements | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '7 years |
Minimum | Land Improvements | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '3 years |
Minimum | Furniture, Fixtures and Equipment | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '4 years |
Maximum | Buildings and Improvements | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '50 years |
Maximum | Land Improvements | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '20 years |
Maximum | Furniture, Fixtures and Equipment | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, plant and equipment, useful life | '10 years |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Deferred Leasing Intangibles Included in Total Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total deferred leasing intangibles, net, included in total assets | $29,790 | $33,190 |
Total deferred leasing intangibles, net, included in total liabilities | 13,626 | 15,522 |
In-Place Leases | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total deferred leasing intangibles, net, included in total assets | 15,676 | 17,200 |
Above Market Leases | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total deferred leasing intangibles, net, included in total assets | 3,994 | 4,888 |
Tenant Relationships | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total deferred leasing intangibles, net, included in total assets | 10,120 | 11,102 |
Below Market Lease [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total deferred leasing intangibles, net, included in total liabilities | $13,626 | $15,522 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Deferred Leasing Intangibles Included in Total Assets and Liabilities (Parenthetical) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounting Policies [Abstract] | ' | ' |
Accumulated amortization, total assets | $30,017 | $36,327 |
Accumulated amortization, total liabilities | $8,240 | $9,389 |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies - Net Amortization Expense Related to Deferred Leasing Intangibles (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Amortization of In-Place Leases and Tenant Relationships | ' |
Estimated Amortization of In-Place Leases and Tenant Relationships | ' |
2014 | $4,972 |
2015 | 4,329 |
2016 | 3,270 |
2017 | 2,976 |
2018 | 2,076 |
Estimated Net Increase To Rental Revenues Related To Above And Below Market Leases | ' |
Estimated Net Increase to Rental Revenues Related to Above and Below Market Leases | ' |
2014 | 438 |
2015 | 425 |
2016 | 938 |
2017 | 878 |
2018 | $806 |
Investment_in_Real_Estate_Addi
Investment in Real Estate - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 2 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 13, 2012 | 26-May-11 | Feb. 28, 2014 |
sqft | sqft | Parcels | Discontinuing operations [Member] | Discontinuing operations [Member] | Discontinuing operations [Member] | 2003 Net Lease Joint Venture [Member] | 2003 Net Lease Joint Venture [Member] | 2003 Net Lease Joint Venture [Member] | |
Property | Property | Property | Property | Property | sqft | ||||
Parcels | sqft | Property | |||||||
Real Estate Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of industrial properties acquired | 2 | 1 | 1 | ' | ' | ' | 1 | 1 | ' |
Number of industrial properties with 100% LLC interest acquired | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Gross leasable area (GLA) of industrial properties acquired | 1,100,000 | 400,000 | 700,000 | ' | ' | ' | ' | ' | ' |
Number of acquired industrial properties that are vacant | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Equity interest acquired | 100.00% | ' | ' | ' | ' | ' | 85.00% | 85.00% | ' |
Carrying value of mortgage loan assumed from acquisition | ' | $12,026 | $24,417 | ' | ' | ' | ' | ' | ' |
Cash payment of acquisition | ' | 8,324 | 5,277 | ' | ' | ' | ' | ' | ' |
Approximate gain due to the difference between carrying value and fair value of acquisition | 0 | 776 | 689 | ' | ' | ' | ' | ' | ' |
Purchase price of land parcels | ' | 46,695 | ' | ' | ' | ' | ' | ' | ' |
Purchase price of acquisitions | 72,812 | 21,819 | 30,625 | ' | ' | ' | ' | ' | ' |
Capitalization rate used for calculating estimated fair value of industrial properties acquired | ' | 7.30% | 8.40% | ' | ' | ' | ' | ' | ' |
Number of industrial properties sold | 67 | 28 | 36 | ' | ' | ' | ' | ' | 2 |
Gross leasable area (GLA) of industrial properties sold | 3,000,000 | 4,200,000 | 2,900,000 | ' | ' | ' | ' | ' | 1,600,000 |
Gain on sale of real estate | 35,444 | 16,442 | 21,789 | 34,344 | 12,665 | 20,419 | ' | ' | ' |
Number of sold properties included in discontinued operations | 67 | 28 | 36 | ' | ' | ' | ' | ' | ' |
Number of land parcels sold | ' | 1 | 1 | ' | ' | ' | ' | ' | ' |
Gross proceeds from the sale of industrial properties and land parcels | 144,628 | 85,561 | 86,643 | ' | ' | ' | ' | ' | ' |
Number of industrial properties transferred to lender | ' | ' | 1 | ' | ' | ' | ' | ' | ' |
Square Footage Of Industrial Property Transferred To Lender | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' |
Notes receivable outstanding | 52,605 | 40,771 | ' | ' | ' | ' | ' | ' | ' |
Net discount of notes receivable outstanding | 191 | 255 | ' | ' | ' | ' | ' | ' | ' |
Fair value of notes receivable | $53,482 | $44,352 | ' | ' | ' | ' | ' | ' | ' |
Investment_in_Real_Estate_Summ
Investment in Real Estate - Summary of Intangible Assets (Liabilities) Subject to Amortization in Period of Acquisition (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
In-Place Leases [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Acquired finite lived intangible asset, fair value | $2,807 | $1,750 |
Acquired finite lived intangible asset, weighted average life | '52 months | '118 months |
Tenant Relationships | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Acquired finite lived intangible asset, fair value | 1,914 | 1,012 |
Acquired finite lived intangible asset, weighted average life | '112 months | '178 months |
Below Market Lease [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Acquired finite lived intangible asset, fair value | ($188) | ($102) |
Acquired finite lived intangible asset, weighted average life | '52 months | '118 months |
Investment_in_Real_Estate_Summ1
Investment in Real Estate - Summary Regarding Industrial Properties Included in Discontinued Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Real Estate Investment Property, Net [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $10,955 | $21,649 | $32,079 |
Property Expenses | ' | ' | ' | ' | ' | ' | ' | ' | -4,450 | -8,879 | -12,947 |
Impairment of Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | -1,605 | -1,438 | -6,214 |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -3,647 | -7,834 | -8,505 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -63 |
Gain on Sale of Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | 34,344 | 12,665 | 20,419 |
Provision for Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1,246 |
Income from Discontinued Operations | $19,323 | $5,919 | $12,639 | ($2,284) | $1,164 | $5,869 | $3,141 | $5,989 | $35,597 | $16,163 | $23,523 |
Investment_in_Real_Estate_Net_
Investment in Real Estate - Net Non-Cash Impairment Charges (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Impairment Charges [Line Items] | ' | ' | ' |
Total Net Impairment | $2,652 | $1,246 | ($2,661) |
Operating Properties-Held for Sale and Sold Assets [Member] | ' | ' | ' |
Impairment Charges [Line Items] | ' | ' | ' |
Total Net Impairment | 1,605 | 1,438 | 6,214 |
Impairment-Discontinued Operations [Member] | ' | ' | ' |
Impairment Charges [Line Items] | ' | ' | ' |
Total Net Impairment | 1,605 | 1,438 | 6,214 |
Land Parcels Sold Assets [Member] | ' | ' | ' |
Impairment Charges [Line Items] | ' | ' | ' |
Total Net Impairment | 0 | 0 | -5,918 |
Operating Properties Not Held for Sale [Member] | ' | ' | ' |
Impairment Charges [Line Items] | ' | ' | ' |
Total Net Impairment | 1,047 | -192 | -1,755 |
Land Parcels Not Held for Sale [Member] | ' | ' | ' |
Impairment Charges [Line Items] | ' | ' | ' |
Total Net Impairment | 0 | 0 | -1,202 |
Impairment - Continuing Operations [Member] | ' | ' | ' |
Impairment Charges [Line Items] | ' | ' | ' |
Total Net Impairment | $1,047 | ($192) | ($8,875) |
Investments_in_Joint_Ventures_1
Investments in Joint Ventures - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 2 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 13, 2012 | 26-May-11 | Feb. 28, 2014 | Dec. 31, 2013 | Dec. 31, 2013 |
Property | Property | sqft | 2003 Net Lease Joint Venture [Member] | 2003 Net Lease Joint Venture [Member] | 2003 Net Lease Joint Venture [Member] | 2003 Net Lease Joint Venture [Member] | 2007 Europe Joint Venture [Member] | |
sqft | sqft | Property | Property | Property | sqft | Property | Property | |
Property | sqft | |||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Equity interest | ' | ' | ' | ' | ' | ' | 15.00% | 10.00% |
Number of industrial properties owned | 652 | ' | ' | ' | ' | ' | 4 | 0 |
Gross leasable area (GLA) of industrial properties owned | 63,000,000 | ' | ' | ' | ' | ' | 2,500,000 | ' |
Number of industrial properties sold | 67 | 28 | 36 | ' | ' | 2 | ' | ' |
Gross leasable area (GLA) of industrial properties sold | 3,000,000 | 4,200,000 | 2,900,000 | ' | ' | 1,600,000 | ' | ' |
Investment in Joint Venture | $907 | $1,012 | ' | ' | ' | ' | $907 | ' |
Equity Interest Acquired | 100.00% | ' | ' | 85.00% | 85.00% | ' | ' | ' |
Number of industrial properties acquired | 2 | 1 | 1 | 1 | 1 | ' | ' | ' |
Fees received from joint ventures | $231 | $516 | $970 | ' | ' | ' | ' | ' |
Investments_in_Joint_Ventures_2
Investments in Joint Ventures Investments in Joint Ventures - Condensed Combined Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
In Thousands, unless otherwise specified | ||||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ||
Gross Investment in Real Estate | $3,119,547 | $3,130,942 | $3,115,050 | $3,140,649 | ||
Less: Accumulated Depreciation | -748,044 | -732,635 | ' | ' | ||
Net Investment in Real Estate | 2,371,503 | 2,388,813 | ' | ' | ||
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $40,387 and $0 | 0 | 6,765 | ' | ' | ||
Total Assets | 2,597,510 | 2,608,842 | ' | ' | ||
Indebtedness | 1,297,671 | ' | ' | ' | ||
Total Liabilities and Equity | 2,597,510 | 2,608,842 | ' | ' | ||
Carrying Value of the Company's Investments in Joint Ventures | 907 | 1,012 | ' | ' | ||
Corporate Joint Venture [Member] | ' | ' | ' | ' | ||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ||
Gross Investment in Real Estate | 28,389 | 115,488 | ' | ' | ||
Less: Accumulated Depreciation | -4,253 | -38,535 | ' | ' | ||
Net Investment in Real Estate | 24,136 | 76,953 | ' | ' | ||
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $40,387 and $0 | 48,408 | 0 | ' | ' | ||
Other Assets | 7,690 | 17,327 | ' | ' | ||
Total Assets | 80,234 | 94,280 | ' | ' | ||
Indebtedness | 24,656 | 81,764 | ' | ' | ||
Other Liabilities | 1,615 | 4,817 | ' | ' | ||
Indebtedness, Accrued Interest Expense and Leasing Intangibles Held for Sale, Net of Accumulated Amortization of $3,208 and $0 | 48,651 | 0 | ' | ' | ||
Equity | 5,312 | 7,699 | ' | ' | ||
Total Liabilities and Equity | 80,234 | 94,280 | ' | ' | ||
Company's Share of Equity | 896 | 1,252 | ' | ' | ||
Basis Differentials | -200 | [1] | -448 | [1] | ' | ' |
Carrying Value of the Company's Investments in Joint Ventures | $696 | $804 | ' | ' | ||
[1] | This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level. Basis differentials are primarily comprised of impairments we recorded to reduce certain of our investments in the 2003 Net Lease Joint Venture to fair value and certain deferred fees which are not reflected at the joint venture level. |
Investments_in_Joint_Ventures_3
Investments in Joint Ventures Condensed Combined Balance Sheets (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate and Other Assets Held for Sale, Accumulated Depreciation and Amortization | $0 | $3,050 |
Corporate Joint Venture [Member] | ' | ' |
Real Estate and Other Assets Held for Sale, Accumulated Depreciation and Amortization | 40,387 | 0 |
Leasing Intangibles Held for Sale Accumulated Amortization | $3,208 | $0 |
Investments_in_Joint_Ventures_4
Investments in Joint Ventures - Condensed Combined Statements of Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | $84,136 | $81,294 | $82,098 | $80,698 | $81,220 | $76,636 | $78,946 | $77,523 | $328,226 | $314,325 | $302,668 |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property Expenses and Other | ' | ' | ' | ' | ' | ' | ' | ' | 107,390 | 99,907 | 101,281 |
Depreciation and Other Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 111,031 | 114,675 | 115,244 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 73,558 | 83,506 | 100,127 |
Discontinued Operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Attributable to Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | ' | 1,253 | 3,498 | 4,350 |
Gain on Sale of Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | 34,344 | 12,665 | 20,419 |
Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 41,428 | -2,519 | -9,190 |
Equity in Income of Joint Ventures | 17 | 72 | 27 | 20 | 1,403 | 28 | 37 | 91 | 136 | 1,559 | 980 |
Corporate Joint Venture [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,433 | 3,371 | 3,411 |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property Expenses and Other | ' | ' | ' | ' | ' | ' | ' | ' | 1,070 | 1,096 | 1,226 |
Depreciation and Other Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 931 | 764 | 836 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,532 | 1,633 | 1,643 |
Total Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,533 | 3,493 | 3,705 |
Discontinued Operations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Attributable to Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | ' | -1,300 | -1,607 | -1,587 |
Gain on Sale of Real Estate | ' | ' | ' | ' | ' | ' | ' | ' | 513 | 4,974 | 3,137 |
Income from Discontinued Operations | ' | ' | ' | ' | ' | ' | ' | ' | -787 | 3,367 | 1,550 |
Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -887 | 3,245 | 1,256 |
Equity in Income of Joint Ventures | ' | ' | ' | ' | ' | ' | ' | ' | $136 | $1,559 | $980 |
Indebtedness_Information_Regar
Indebtedness - Information Regarding Indebtedness (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Debt Instrument [Line Items] | ' | ' | ||
Mortgage Loans Payable, Net | $677,890 | $763,616 | ||
Unamortized Premiums | -115 | -161 | ||
Mortgage Loans Payable, Gross | 677,775 | 763,455 | ||
Senior Unsecured Notes, Net | 445,916 | 474,150 | ||
Unamortized Discounts | 980 | 2,570 | ||
Senior Unsecured Notes, Gross | 446,896 | 476,720 | ||
Unsecured Credit Facility | 173,000 | [1] | 98,000 | [1] |
2016 Notes | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Senior Unsecured Notes, Net | 159,566 | 159,510 | ||
Interest Rate | 5.75% | ' | ||
Effective Interest Rate | 5.91% | ' | ||
Maturity Date | 15-Jan-16 | ' | ||
2017 Notes | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Senior Unsecured Notes, Net | 54,960 | 55,385 | ||
Interest Rate | 7.50% | ' | ||
Effective Interest Rate | 7.52% | ' | ||
Maturity Date | 1-Dec-17 | ' | ||
2027 Notes | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Senior Unsecured Notes, Net | 6,066 | 6,066 | ||
Interest Rate | 7.15% | ' | ||
Effective Interest Rate | 7.11% | ' | ||
Maturity Date | 15-May-27 | ' | ||
2028 Notes | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Senior Unsecured Notes, Net | 31,883 | 55,261 | ||
Interest Rate | 7.60% | ' | ||
Effective Interest Rate | 8.13% | ' | ||
Maturity Date | 15-Jul-28 | ' | ||
2032 Notes | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Senior Unsecured Notes, Net | 10,514 | 11,500 | ||
Interest Rate | 7.75% | ' | ||
Effective Interest Rate | 7.87% | ' | ||
Maturity Date | 15-Apr-32 | ' | ||
2014 Notes | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Senior Unsecured Notes, Net | 81,149 | 79,683 | ||
Interest Rate | 6.42% | ' | ||
Effective Interest Rate | 6.54% | ' | ||
Maturity Date | 1-Jun-14 | ' | ||
2017 II Notes | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Senior Unsecured Notes, Net | $101,778 | $106,745 | ||
Interest Rate | 5.95% | ' | ||
Effective Interest Rate | 6.37% | ' | ||
Maturity Date | 15-May-17 | ' | ||
Line of Credit | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Line of Credit Facility, Interest Rate at Period End | 1.67% | [1] | ' | |
Effective Interest Rate | 1.67% | [1] | ' | |
Maturity Date | 29-Sep-17 | [1] | ' | |
Mortgages [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
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 | 1-Oct-14 | ' | ||
Maturity Date Range, End | 1-Sep-22 | ' | ||
[1] | * The maturity date may be extended an additional year at our election, subject to certain restrictions. |
Indebtedness_Mortgage_Loans_Ob
Indebtedness - Mortgage Loans Obtained (Detail) (Mortgage Financing I - VI, USD $) | 12 Months Ended |
Dec. 31, 2012 | |
sqft | |
Property | |
Mortgage Financing I - VI | ' |
Mortgage Loans on Real Estate [Line Items] | ' |
Loan Principal | $100,599,000 |
Interest Rate | 4.03% |
Origination Date | 29-Aug-12 |
Maturity Date | 1-Sep-22 |
Amortization Period | '30 years |
Number of Industrial Properties Collateralizing Mortgage | 31 |
GLA | 3,800,000 |
Property Carrying Value | $103,671,000 |
Indebtedness_Additional_Inform
Indebtedness - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 19, 2013 | Dec. 14, 2011 | Dec. 31, 2012 | Apr. 16, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Mortgage Financing I - VI | 2012 Notes | Unsecured Credit Facility | Unsecured Debt | Unsecured Debt | Mortgages [Member] | Mortgages [Member] | ||||||
Debt Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal prepayments, prohibition period | ' | ' | ' | ' | ' | '12 months | ' | ' | ' | ' | ' | ' |
Percentage of outstanding balance for calculating prepayment premium | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' |
Mortgage loans paid off and retired prior to maturity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $72,261 | $14,112 |
Loss from Retirement of Debt | -6,637 | -9,684 | -5,459 | ' | ' | ' | ' | ' | 5,003 | 9,323 | 1,578 | 361 |
Carrying value of industrial properties held under mortgage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 826,754 | ' |
Unamortized debt issue discount | ' | ' | ' | ' | ' | ' | ' | ' | 28 | 598 | ' | ' |
Unamortized deferred financing cost, wrote off | 56 | ' | ' | ' | ' | ' | ' | ' | 191 | 728 | ' | ' |
Unamortized settlement amount of interest rate protection agreements | ' | ' | ' | ' | ' | ' | ' | ' | 1,116 | 3,247 | ' | ' |
Professional service fee | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 440 | ' | ' |
Amount of notes paid off and retired at maturity | ' | ' | ' | ' | ' | ' | 61,829 | ' | ' | ' | ' | ' |
Line of credit facility, maximum borrowing capacity | ' | ' | ' | 625,000 | 450,000 | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, increase, additional borrowings | ' | ' | ' | ' | ' | ' | ' | $825,000 | ' | ' | ' | ' |
Number of years of extension of line of credit facility at election | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, interest rate description | '150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indebtedness_Senior_Unsecured_
Indebtedness - Senior Unsecured Notes Repurchases (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Unsecured Senior Notes [Line Items] | ' | ' |
Principal Amount Repurchased | $29,824 | $106,303 |
Purchase Price | 33,492 | 110,613 |
2014 Notes | ' | ' |
Unsecured Senior Notes [Line Items] | ' | ' |
Principal Amount Repurchased | 0 | 9,000 |
Purchase Price | 0 | 9,439 |
2017 Notes | ' | ' |
Unsecured Senior Notes [Line Items] | ' | ' |
Principal Amount Repurchased | 430 | 4,223 |
Purchase Price | 482 | 4,632 |
2017 II Notes | ' | ' |
Unsecured Senior Notes [Line Items] | ' | ' |
Principal Amount Repurchased | 5,000 | 0 |
Purchase Price | 5,300 | 0 |
2028 Notes | ' | ' |
Unsecured Senior Notes [Line Items] | ' | ' |
Principal Amount Repurchased | 23,394 | 69,680 |
Purchase Price | 26,547 | 72,541 |
2032 Notes | ' | ' |
Unsecured Senior Notes [Line Items] | ' | ' |
Principal Amount Repurchased | 1,000 | 23,400 |
Purchase Price | $1,163 | $24,001 |
Indebtedness_Schedule_of_Matur
Indebtedness - Schedule of Maturities of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $113,321 |
2015 | 37,762 |
2016 | 272,618 |
2017 | 341,723 |
2018 | 168,341 |
Thereafter | 363,906 |
Total | $1,297,671 |
Indebtedness_Summary_of_Indebt
Indebtedness - Summary of Indebtedness at Estimated Fair Value (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Debt Disclosure [Abstract] | ' | ' | ||
Mortgage and Loans Payable, Net, Carrying Amount | $677,890 | $763,616 | ||
Senior Unsecured Notes ,Net, Carrying Amount | 445,916 | 474,150 | ||
Unsecured Credit Facility, Carrying Amount | 173,000 | [1] | 98,000 | [1] |
Total, Carrying Amount | 1,296,806 | 1,335,766 | ||
Mortgage Loans Payable, Net, Fair Value | 684,914 | 814,915 | ||
Senior Unsecured Notes, Net, Fair Value | 482,781 | 516,943 | ||
Unsecured Credit Facility, Fair Value | 173,000 | 98,192 | ||
Total, Fair Value | $1,340,695 | $1,430,050 | ||
[1] | * The maturity date may be extended an additional year at our election, subject to certain restrictions. |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 01, 2012 | Feb. 28, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 27-May-04 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 27-May-04 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 01, 2012 | Feb. 28, 2011 | Apr. 11, 2013 | Jan. 13, 2006 | Dec. 31, 2013 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 21, 2006 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 18, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Maximum | Maximum | ATM [Member] | ATM [Member] | ATM [Member] | Series F Preferred Stock | Series F Preferred Stock | Series F Preferred Stock | Series F Preferred Stock | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Series G Preferred Stock [Member] | Common Stock | Common Stock | Common Stock | Common Stock | Common Stock | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series K Preferred Stock [Member] | Series K Preferred Stock [Member] | Series K Preferred Stock [Member] | Series K Preferred Stock [Member] | Series K Preferred Stock [Member] | Series K Preferred Stock [Member] | Convertible Common Stock [Member] | Convertible Common Stock [Member] | Convertible Common Stock [Member] | ||||||||||||||
Minimum | Scenario, Forecast [Member] | ATM [Member] | ATM [Member] | |||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
DepositarySharePercentagePerShare | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Issue date of depositary shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27-May-04 | ' | ' | ' | 27-May-04 | ' | ' | ' | ' | ' | ' | ' | ' | 13-Jan-06 | ' | ' | ' | ' | ' | 21-Aug-06 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Depositary Shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Dividend Rate Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.24% | ' | ' | 7.24% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.25% | ' | ' | ' | ' | 7.25% | ' | ' | ' | ' | ' | ' | ||
Preferred Stock, Par or Stated Value Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Initial offering price per depository share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 | ' | ' | ' | $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | $25 | ' | ' | ' | ' | ' | $25 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of years of U.S treasury rate one | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 years | '30 years | ' | ' | '30 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fixed coupon rate of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.38% | 2.38% | 2.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of years of U.s treasury rate two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '10 years | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
LIBOR rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3-month LIBOR | '3-month LIBOR | ' | ' | '3-month LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
New coupon rate of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.07% | 6.07% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Redemption price per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 | $1,000 | ' | ' | ' | $1,000 | ' | ' | ' | ' | ' | $25 | $25 | $25 | ' | $25 | ' | ' | ' | ' | $25 | ' | ' | $25 | ' | ' | ' | ||
Aggregate redemption price | ($150,051,000) | ' | ' | ' | ($50,044,000) | ' | ' | ' | ($150,051,000) | ($50,044,000) | ' | ' | ' | ' | ' | ' | ' | $50,000,000 | $50,000,000 | ' | ' | ' | $25,000,000 | ' | ' | ' | ' | ' | ' | $150,000,000 | ' | ' | ' | ' | ' | ' | ' | $50,000,000 | ' | ' | ' | ' | ' | ' | ||
Dividend equivalent to per depositary share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $72.36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Floating rates during floating rate periods | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Redemption date of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Mar-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Depositary Shares redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Dividend per share, Depositary Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.31 | ' | ' | ' | ' | ' | ' | $0.41 | $0.06 | $0.51 | [1] | $2.27 | $1.36 | ' | $0.09 | $1.00 | [2] | $2.27 | $1.36 | ' | ' | ' | ' |
Total Dividend, Depositary Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 221,000 | ' | 816,000 | ' | ' | ' | ' | ' | 181,000 | ' | ' | ' | ' | ' | ' | ' | ||
Cost associated with share redemption | 0 | 2,121,000 | 3,546,000 | 0 | 1,804,000 | 0 | 0 | 0 | 5,667,000 | 1,804,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,546,000 | 1,804,000 | ' | ' | ' | 2,121,000 | ' | ' | ' | ' | ' | ' | ||
Preferred stock shares authorized | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Units exchanged for Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105,028 | 535,026 | 125,784 | ||
Noncontrolling interest reclassified to equity | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 996,000 | 4,763,000 | 1,109,000 | ||
Underwritten public offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,400,000 | 9,400,000 | 17,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net proceeds from underwriting | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 132,050,000 | 116,715,000 | 201,150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Shares of company stock issuable under an at-the-market offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,500,000 | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Issuance of company common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,315,704 | 1,532,598 | 115,856 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Proceeds from Common Stock Issuance ATM or DRIP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,735,000 | 18,063,000 | 1,391,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Aggregate gross sale proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $125,000,000 | $100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | The remaining 4,000,000 Depositary Shares of the Series J Preferred Stock were redeemed on April 11, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above. | |||||||||||||||||||||||||||||||||||||||||||||
[2] | Schedule relates to the 2,000,000 Depositary Shares of the Series K Preferred Stock that were redeemed on July 18, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above. |
Stockholders_Equity_Summary_of
Stockholders' Equity - Summary of Preferred Shares Outstanding (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Class of Stock [Line Items] | ' | ' |
Liquidation Preference | $75,000 | ' |
Series F Preferred Stock | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Shares Outstanding | 500 | 500 |
Liquidation Preference | 50,000 | 50,000 |
Series G Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Shares Outstanding | 250 | 250 |
Liquidation Preference | 25,000 | 25,000 |
Series J Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Shares Outstanding | ' | 400 |
Liquidation Preference | ' | 100,000 |
Series K Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Shares Outstanding | ' | 200 |
Liquidation Preference | ' | $50,000 |
Stockholders_Equity_Common_Sto
Stockholders' Equity - Common Stock Outstanding, Including Unvested Restricted Shares of Common Stock (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Class of Stock [Line Items] | ' | ' | ' |
Common Stock, Shares, Outstanding, Beginning Balance | 98,767,913 | ' | ' |
Issuance of Restricted Stock Shares | 1,003,421 | ' | ' |
Common Stock, Shares, Outstanding, Ending Balance | 109,980,850 | ' | ' |
Common Class A [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Common Stock, Shares, Outstanding, Beginning Balance | 98,767,913 | 86,807,402 | 68,841,296 |
Issuance of Common Stock, Including Vesting of Restricted Stock Units | 10,853,693 | 11,085,905 | 17,646,586 |
Issuance of Restricted Stock Shares | 284,461 | 565,137 | 292,339 |
Repurchase and Retirement of Restricted Stock Shares | -30,245 | -225,557 | -98,603 |
Conversion of Operating Partnership Units | 105,028 | 535,026 | 125,784 |
Common Stock, Shares, Outstanding, Ending Balance | 109,980,850 | 98,767,913 | 86,807,402 |
Stockholders_Equity_Summary_of1
Stockholders' Equity - Summary of Dividend Distributions (Detail) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Class of Stock [Line Items] | ' | ' | ' | ||
Total Common Dividend/ Distribution | $38,862 | ' | ' | ||
Total Preferred Dividend/ Distribution | 8,733 | 18,947 | 19,565 | ||
Common Class A [Member] | ' | ' | ' | ||
Class of Stock [Line Items] | ' | ' | ' | ||
Total Common Dividend/ Distribution | 38,862 | [1] | 0 | [1] | 0 |
Series F Preferred Stock | ' | ' | ' | ||
Class of Stock [Line Items] | ' | ' | ' | ||
Total Preferred Dividend/ Distribution | 2,896 | [1] | 2,728 | [1] | 3,256 |
Series G Preferred Stock [Member] | ' | ' | ' | ||
Class of Stock [Line Items] | ' | ' | ' | ||
Total Preferred Dividend/ Distribution | 1,809 | [1] | 1,809 | [1] | 1,809 |
Series J Preferred Stock [Member] | ' | ' | ' | ||
Class of Stock [Line Items] | ' | ' | ' | ||
Total Preferred Dividend/ Distribution | 2,034 | [1] | 10,785 | [1] | 10,875 |
Series K Preferred Stock [Member] | ' | ' | ' | ||
Class of Stock [Line Items] | ' | ' | ' | ||
Total Preferred Dividend/ Distribution | $1,994 | [1] | $3,625 | [1] | $3,625 |
[1] | The second quarter 2013 and fourth quarter 2012 dividend per share related to redeemed Series J Preferred Stock was pro-rated as discussed in the "Preferred Stock" section. The third quarter 2013 dividend per share related to redeemed Series K Preferred Stock was pro-rated as discussed in the "Preferred Stock" section. |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss (Changes in AOCI) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Balance as of December 31, 2012 | ($6,557) |
Other Comprehensive Loss Before Reclassifications | -235 |
Amounts Reclassified from Accumulated Other Comprehensive Loss | 3,527 |
Net Current Period Other Comprehensive Income (Loss) | 3,292 |
Balance as of December 31, 2013 | -3,265 |
Interest Rate Protection Agreements | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Balance as of December 31, 2012 | -7,008 |
Other Comprehensive Loss Before Reclassifications | 0 |
Amounts Reclassified from Accumulated Other Comprehensive Loss | 3,527 |
Net Current Period Other Comprehensive Income (Loss) | 3,527 |
Balance as of December 31, 2013 | -3,481 |
Foreign Currency Translation Adjustment | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Balance as of December 31, 2012 | 138 |
Other Comprehensive Loss Before Reclassifications | -60 |
Amounts Reclassified from Accumulated Other Comprehensive Loss | 0 |
Net Current Period Other Comprehensive Income (Loss) | -60 |
Balance as of December 31, 2013 | 78 |
Comprehensive Income (Loss) Attributable to Noncontrolling Interest | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Balance as of December 31, 2012 | 313 |
Other Comprehensive Loss Before Reclassifications | -175 |
Amounts Reclassified from Accumulated Other Comprehensive Loss | 0 |
Net Current Period Other Comprehensive Income (Loss) | -175 |
Balance as of December 31, 2013 | $138 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (Amounts Reclassified from AOCI) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Amortization of Interest Rate Protection Agreements | $73,558 | $83,506 | $100,127 |
Write-off of Unamortized Settlement Amounts of Interest Rate Protection Agreements | -6,637 | -9,684 | -5,459 |
Total | -81,014 | -94,104 | -107,677 |
Amount Reclassified from Accumulated Other Comprehensive Loss | Interest Rate Protection Agreements | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Total | 3,527 | ' | ' |
Interest Rate Contract [Member] | Amount Reclassified from Accumulated Other Comprehensive Loss | Interest Rate Protection Agreements | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Amortization of Interest Rate Protection Agreements | 2,411 | ' | ' |
Write-off of Unamortized Settlement Amounts of Interest Rate Protection Agreements | $1,116 | ' | ' |
Supplemental_Information_to_St2
Supplemental Information to Statements of Cash Flows - Cash Flow Information (Detail) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Cash Flow Information [Line Items] | ' | ' | ' |
Interest Paid, Net of Capitalized Interest | $70,726 | $83,504 | $100,375 |
Capitalized Interest | 3,611 | 1,997 | 437 |
Income Taxes (Refunded) Paid | 5,433 | -295 | 1,876 |
Supplemental Schedule of Non-Cash Investing and Financing Activities: | ' | ' | ' |
Dividend Payable | 10,289 | 452 | ' |
Exchange Of Limited Partnership Units For General Partnership Units [Abstract] | ' | ' | ' |
Conversion of Units to Common Stock | 0 | 0 | 0 |
Property Transfer to Lender in Satisfaction of Non-Recourse Mortgage Loan | ' | ' | ' |
Net Investment in Real Estate | 0 | 0 | -3,200 |
Prepaid Expenses and Other Assets, Net | 0 | 0 | -1,987 |
Mortgage Loan Payable, Net | 0 | 0 | 5,040 |
Loss from Retirement of Debt | 0 | 0 | -147 |
Mortgage Loan Payable Assumed in Conjunction with a Property Acquisition | 483 | 12,026 | 24,417 |
Notes Receivable Issued in Conjunction with Certain Property Sales | 12,520 | 0 | 7,029 |
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate | 15,249 | 12,524 | 6,517 |
Write-off of Fully Depreciated Assets | -62,281 | -46,801 | -58,357 |
Noncontrolling Interest | ' | ' | ' |
Exchange Of Limited Partnership Units For General Partnership Units [Abstract] | ' | ' | ' |
Conversion of Units to Common Stock | -996 | -4,763 | -1,109 |
Common Stock | ' | ' | ' |
Exchange Of Limited Partnership Units For General Partnership Units [Abstract] | ' | ' | ' |
Conversion of Units to Common Stock | 1 | 5 | 1 |
Additional Paid-in Capital | ' | ' | ' |
Exchange Of Limited Partnership Units For General Partnership Units [Abstract] | ' | ' | ' |
Conversion of Units to Common Stock | 995 | 4,758 | 1,108 |
Common Stock and Operating Partnership Units [Member] | ' | ' | ' |
Supplemental Schedule of Non-Cash Investing and Financing Activities: | ' | ' | ' |
Dividend Payable | 9,837 | 0 | 0 |
Preferred Stock | ' | ' | ' |
Supplemental Schedule of Non-Cash Investing and Financing Activities: | ' | ' | ' |
Dividend Payable | $452 | $452 | $4,763 |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Basic and Diluted Earning Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (Loss) from Continuing Operations | ' | ' | ' | ' | ' | ' | ' | ' | $4,941 | ($22,459) | ($33,631) |
Gain on Sale of Real Estate, Net of Income Tax Provision | 337 | 291 | 0 | 262 | 0 | 3,777 | 0 | 0 | 890 | 3,777 | 918 |
Noncontrolling Interest Allocable to Continuing Operations | 67 | -39 | -293 | -128 | -487 | -204 | -1,005 | -538 | 356 | 2,038 | 3,185 |
Income (Loss) from Continuing Operations Attributable to First Industrial Realty Trust, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | 6,187 | -16,644 | -29,528 |
Preferred Dividends | -1,227 | -1,392 | -2,277 | -3,837 | -4,662 | -4,725 | -4,798 | -4,762 | -8,733 | -18,947 | -19,565 |
Redemption of Preferred Stock | 0 | -2,121 | -3,546 | 0 | -1,804 | 0 | 0 | 0 | -5,667 | -1,804 | 0 |
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | -8,213 | -37,395 | -49,093 |
Income from Discontinued Operations, Net of Income Tax Provision | 19,323 | 5,919 | 12,639 | -2,284 | 1,164 | 5,869 | 3,141 | 5,989 | 35,597 | 16,163 | 23,523 |
Noncontrolling Interest Allocable to Discontinued Operations | -797 | -246 | -538 | 104 | -54 | -285 | -167 | -331 | -1,477 | -837 | -1,440 |
Income from Discontinued Operations Allocable to Participating Securities | -82 | -42 | -42 | 0 | 0 | -33 | 0 | 0 | -162 | 0 | 0 |
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | 33,958 | 15,326 | 22,083 |
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities | 20,322 | 5,031 | 5,294 | -4,740 | -8,437 | 4,194 | -14,326 | -3,500 | 25,907 | -22,069 | -27,010 |
Net Income Allocable to Participating Securities | ' | ' | ' | ' | ' | ' | ' | ' | -162 | 0 | 0 |
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | $25,745 | ($22,069) | ($27,010) |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Shares—Basic and Diluted | ' | ' | ' | ' | 97,738 | 93,488 | 87,981 | 86,575 | 106,995 | 91,468 | 80,616 |
Basic and Diluted EPS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $0.01 | $0 | ($0.06) | ($0.03) | ($0.10) | ($0.02) | ($0.19) | ($0.11) | ($0.08) | ($0.41) | ($0.61) |
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $0.17 | $0.05 | $0.11 | ($0.02) | $0.01 | $0.06 | $0.03 | $0.07 | $0.32 | $0.17 | $0.27 |
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $0.18 | $0.05 | $0.05 | ($0.05) | ($0.09) | $0.04 | ($0.16) | ($0.04) | $0.24 | ($0.24) | ($0.34) |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Unvested restricted stock awards outstanding | 488,861 | 288,627 | 673,381 |
Earnings_Per_Share_NonParticip
Earnings Per Share - Non-Participating Securities (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Unit Awards [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Number of Awards Outstanding to Non-Participating Securities | 73,400 | 483,500 | 731,900 |
Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Number of Awards Outstanding to Non-Participating Securities | 0 | 0 | 25,201 |
Long-Term Incentive Program [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Number of Awards Outstanding to Non-Participating Securities | 718,960 | 0 | 0 |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Tax Benefit (Provision) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal | $231 | ($5,210) | ($622) |
State | -264 | -253 | -502 |
Foreign | 0 | -10 | -41 |
Deferred: | ' | ' | ' |
Federal | 0 | 0 | -284 |
State | 36 | -49 | -2 |
Foreign | 0 | 0 | -697 |
Income Tax Benefit (Provision) | $3 | ($5,522) | ($2,148) |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets (Liabilities) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Impairment of Real Estate | $5,185 | $5,519 |
Foreign Net Operating Loss Carryforward | 1,312 | 854 |
Valuation Allowance | -5,357 | -5,244 |
Other | 696 | 617 |
Total Deferred Tax Assets, Net of Allowance | 1,836 | 1,746 |
Straight-line Rent | -76 | -91 |
Fixed Assets | -1,771 | -1,666 |
Other | -122 | -158 |
Total Deferred Tax Liabilities | -1,969 | -1,915 |
Total Net Deferred Tax Liabilities | ($133) | ($169) |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2009 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Net deferred tax (liabilities) assets | ' | ($133) | ($169) | ' |
Valuation allowance | ' | 5,357 | 5,244 | ' |
Received refund from the IRS | 40,418 | ' | ' | ' |
Amount of refund claim up to which IRS examination team is required by statute to review all refunds | ' | ' | ' | 2,000 |
Adjustment to Taxable Income | ' | ' | ' | 13,700 |
Taxes owed | ' | ' | ' | 4,806 |
Accrued interest | ' | 500 | ' | ' |
Preferred stock distributions taxable as capital gain | ' | ' | $8,238 | ' |
Long-term Capital Gains as a Percentage of Distribution | ' | ' | 35.42% | ' |
Return of Capital as a Percentage of Distribution | ' | ' | 64.58% | ' |
Income_Taxes_Income_Tax_Benefi
Income Taxes - Income Tax Benefit (Provision) Pertaining to Income from Continuing Operations and Gain on Sale of Real Estate (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax Benefit (Provision) at Federal Rate Related to Continuing Operations | $286 | $557 | ($2,162) |
State Tax Provision, Net of Federal Benefit (Provision) | -236 | -244 | -521 |
Non-deductible Permanent Items, Net | 21 | 32 | -54 |
IRS Audit Adjustment and Accrued Interest | 58 | -5,523 | 0 |
Change in Valuation Allowance | -388 | -166 | 1,853 |
Foreign Taxes, Net | 0 | -10 | -96 |
Other | 262 | -168 | 78 |
Net Income Tax Benefit (Provision) | $3 | ($5,522) | ($902) |
Income_Taxes_Federal_Income_Ta
Income Taxes - Federal Income Tax Treatment of Share Distributions (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | ||||
Common Stock | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series K Preferred Stock [Member] | Series K Preferred Stock [Member] | Series K Preferred Stock [Member] | Series K Preferred Stock [Member] | Depositary Shares [Member] | |||||
Series J Preferred Stock [Member] | |||||||||||||||
Income Tax [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Ordinary Income | ' | $0.31 | ' | ' | $0.51 | [1] | $0 | $0.31 | ' | $1.00 | [2] | $0 | $0.31 | $0 | [3] |
Long-term Capital Gains | ' | $0 | ' | ' | $0 | [1] | $0.80 | $0 | ' | $0 | [2] | $0.80 | $0 | $0.79 | [3] |
Unrecaptured Section 1250 Gain | ' | $0 | ' | ' | $0 | [1] | $0 | $0 | ' | $0 | [2] | $0 | $0 | $0 | [3] |
Return of Capital | ' | $0 | ' | ' | $0 | [1] | $1.46 | $1.04 | ' | $0 | [2] | $1.46 | $1.04 | $1.43 | [3] |
Qualified Dividends | ' | $0 | ' | ' | $0 | [1] | $0 | $0.01 | ' | $0 | [2] | $0 | $0.01 | $0 | [3] |
Preferred Distribution per Depositary Share | ' | $0.31 | $0.41 | $0.06 | $0.51 | [1] | $2.27 | $1.36 | $0.09 | $1.00 | [2] | $2.27 | $1.36 | $2.22 | [3] |
Ordinary Income as a Percentage of Distribution | ' | 100.00% | ' | ' | 100.00% | [1] | 0.00% | 23.02% | ' | 100.00% | [2] | 0.00% | 23.02% | 0.00% | [3] |
Long-term Capital Gains as a Percentage of Distribution | 35.42% | 0.00% | ' | ' | 0.00% | [1] | 35.42% | 0.00% | ' | 0.00% | [2] | 35.42% | 0.00% | 35.42% | [3] |
Unrecaptured Section 1250 Gain as a Percentage of Distribution | ' | 0.00% | ' | ' | 0.00% | [1] | 0.00% | 0.00% | ' | 0.00% | [2] | 0.00% | 0.00% | 0.00% | [3] |
Return of Capital as a Percentage of Distribution | 64.58% | 0.00% | ' | ' | 0.00% | [1] | 64.58% | 76.52% | ' | 0.00% | [2] | 64.58% | 76.52% | 64.58% | [3] |
Qualified Dividends as a Percentage of Distribution | ' | 0.00% | ' | ' | 0.00% | [1] | 0.00% | 0.46% | ' | 0.00% | [2] | 0.00% | 0.46% | 0.00% | [3] |
Preferred Distribution, Percentage | ' | 100.00% | ' | ' | 100.00% | [1] | 100.00% | 100.00% | ' | 100.00% | [2] | 100.00% | 100.00% | 100.00% | [3] |
[1] | The remaining 4,000,000 Depositary Shares of the Series J Preferred Stock were redeemed on April 11, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above. | ||||||||||||||
[2] | Schedule relates to the 2,000,000 Depositary Shares of the Series K Preferred Stock that were redeemed on July 18, 2013. The 2013 redemption had no impact on the 2012 or 2011 allocations included in the table above. | ||||||||||||||
[3] | Schedule relates to the 2,000,000 Depositary Shares of the Series J Preferred Stock that were redeemed on December 21, 2012. The 2012 redemption had no impact on the 2011 allocation. |
Income_Taxes_Federal_Income_Ta1
Income Taxes - Federal Income Tax Treatment of Share Distributions (Parenthetical) (Detail) | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||
Apr. 11, 2013 | Dec. 31, 2013 | Apr. 11, 2013 | Dec. 21, 2012 | Jul. 18, 2013 | |
Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Depositary Shares [Member] | Depositary Shares [Member] | Depositary Shares [Member] | |
Series J Preferred Stock [Member] | Series J Preferred Stock [Member] | Series K Preferred Stock [Member] | |||
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Depositary shares of preferred stock redeemed | 4,000,000 | 2,000,000 | 4,000,000 | 2,000,000 | 2,000,000 |
Restructuring_Costs_Summarizat
Restructuring Costs - Summarization of Restructuring Costs (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Costs [Abstract] | ' | ' | ' |
Termination of certain office leases | ' | ' | $1,200 |
Other | ' | ' | 353 |
Total restructuring costs | 0 | 0 | 1,553 |
Unpaid restructuring expense included in accounts payable, accrued expenses and other liabilities | $1,130 | $1,464 | ' |
Future_Rental_Revenues_Minimum
Future Rental Revenues - Minimum Lease Payments Receivable, Excluding Tenant Reimbursements of Expenses, Under Non-Cancelable Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Disclosure Future Rental Revenues Minimum Lease Payments Receivable Excluding Tenant Reimbursements Of Expenses Under Non Cancelable Operating Leases [Abstract] | ' |
2014 | $242,261 |
2015 | 210,117 |
2016 | 167,903 |
2017 | 134,636 |
2018 | 102,717 |
Thereafter | 298,738 |
Total | $1,156,372 |
Stock_Based_Compensation_Addit
Stock Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Plans | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of Stock Incentive Plans | 5 | ' | ' |
Shares authorized under Stock Incentive Plans | 11,500,000 | ' | ' |
Shares available under Stock Incentive Plans | 373,243 | ' | ' |
Matching contributions in 401(k) / profit sharing plan | $300 | $284 | $197 |
Restricted stock and unit awards to employees | 1,003,421 | ' | ' |
Fair value of restricted stock and unit awards | 4,719 | 7,065 | 3,248 |
Compensation expense recognized at date of grant | 1,008 | 3,649 | ' |
Amortization related to restricted stock and unit awards | 6,202 | 8,559 | 3,759 |
Amortization capitalized in development activities | 43 | 32 | 0 |
Unrecognized compensation related to unvested restricted stock and unit awards | 7,319 | ' | ' |
Weighted average period of unrecognized compensation expected to be recognized | '10 months 0 days | ' | ' |
Long-Term Incentive Program [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted stock and unit awards to employees | 718,960 | ' | ' |
LTIP Unit Awards fair value | $5,411 | ' | ' |
Long-Term Incentive Program [Member] | Minimum | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Percentage by which maximum shares Issuable to Participant for Performance Period Multiplied | 0.00% | ' | ' |
Long-Term Incentive Program [Member] | Maximum | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Percentage by which maximum shares Issuable to Participant for Performance Period Multiplied | 100.00% | ' | ' |
Restricted stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted stock and unit awards to employees | 284,461 | 565,137 | 292,339 |
Restricted stock [Member] | Minimum | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period of restricted stock | '3 years | ' | ' |
Stock_Based_Compensation_Valua
Stock Based Compensation - Valuation Assumptions (Details) (Long-Term Incentive Program [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Expected dividend yield | 2.22% |
Expected volatility - weighted average | 30.61% |
Minimum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Expected volatility - range used | 24.28% |
Risk-free interest rate | 0.03% |
Expected term | '1 year |
Maximum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Expected volatility - range used | 34.66% |
Risk-free interest rate | 0.71% |
Expected term | '2 years 6 months |
Stock_Based_Compensation_Summa
Stock Based Compensation - Summary of Restricted Stock Award and Restricted Stock Unit Award Transactions (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' |
Outstanding, Beginning Balance, Awards | 772,127 |
Issued, Awards | 1,003,421 |
Forfeited, Awards | -201,719 |
Vested, Awards | -292,608 |
Outstanding, Ending Balance, Awards | 1,281,221 |
Outstanding, Weighted average grant date fair value, Beginning of Period | $7.02 |
Issued, Weighted average grant date fair value | $10.10 |
Forfeited, Weighted average grant date fair value | $4.58 |
Vested, Weighted average grant date fair value | $7.41 |
Outstanding Weighted Average, End of Period | $9.72 |
Derivatives_Additional_Informa
Derivatives - Additional Information (Detail) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Oct. 31, 2008 | |
Series F Preferred Stock | Series F Preferred Stock | ||||
Derivative [Line Items] | ' | ' | ' | ' | |
Minimum fixed coupon rate of preferred stock | ' | ' | 2.38% | ' | |
Number of years of U.S treasury rate one | ' | ' | '30 years | ' | |
Number of years of U.s treasury rate two | ' | ' | '10 years | ' | |
LIBOR rate | ' | ' | '3-month LIBOR | ' | |
New coupon rate of preferred stock | ' | ' | 6.07% | ' | |
Notional value of interest rate swap agreement | ' | ' | $50,000 | [1] | $50,000 |
Number of years of long dated treasuries | '30 years | ' | ' | ' | |
Treasury rate of agreement | ' | ' | ' | 5.22% | |
Mark-to-Market Gain (Loss) on Interest Rate Protection Agreements | -52 | 328 | ' | ' | |
Settlement payments of mark-to-market gains or losses | 774 | 1,169 | ' | ' | |
Amortization to be reclassified from OCI into income | 1,358 | ' | ' | ' | |
Outstanding settlement payment due on the agreement | $0 | $305 | ' | ' | |
[1] | Fair value excludes quarterly settlement payment due on Series F Agreement. As of December 31, 2012, the outstanding payable was $305. |
Summary_of_Derivatives_and_Fai
Summary of Derivatives and Fair Values (Detail) (Series F Agreement, USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 31, 2008 | ||
Series F Agreement | ' | ' | ' | ||
Derivative [Line Items] | ' | ' | ' | ||
Notional Amount | $50,000 | [1] | ' | $50,000 | |
Strike | 5.22% | [1] | ' | ' | |
Trade Date | 1-Oct-08 | [1] | ' | ' | |
Maturity Date | 1-Oct-13 | [1] | ' | ' | |
Fair Value of Derivative Liabilities | ' | ($826) | [1] | ' | |
[1] | Fair value excludes quarterly settlement payment due on Series F Agreement. As of December 31, 2012, the outstanding payable was $305. |
Summary_of_Impact_of_Derivativ
Summary of Impact of Derivatives in Cash Flow Hedging Relationships on Statement of Operations and Statement of OCI (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative [Line Items] | ' | ' | ' |
Amortization Reclassified from OCI into Income (Loss) | $2,411 | $2,271 | $2,166 |
Interest Expense [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Amortization Reclassified from OCI into Income (Loss) | ($2,411) | ($2,271) | ' |
Fair_Value_Measurements_on_Rec
Fair Value Measurements on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value On Recurring Basis [Line Items] | ' | ' |
Fair Value of Liabilities | $0 | ($826) |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value On Recurring Basis [Line Items] | ' | ' |
Fair Value of Liabilities | ' | 0 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value On Recurring Basis [Line Items] | ' | ' |
Fair Value of Liabilities | ' | 0 |
Fair Value, Measurements, Recurring [Member] | Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value On Recurring Basis [Line Items] | ' | ' |
Fair Value of Liabilities | ' | ($826) |
Reconciliation_of_Liabilities_
Reconciliation of Liabilities Classified as Level 3 (Detail) (Unobservable Inputs (Level 3) [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Ending Liability Balance | ($826) | ($1,667) |
Mark-to-Market on Series F Agreement | 826 | 841 |
Ending Liability Balance | $0 | ($826) |
Quantitative_Information_about
Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | Discounted Cash Flow [Member] | Discounted Cash Flow [Member] | ||||
Unobservable Inputs (Level 3) [Member] | Unobservable Inputs (Level 3) [Member] | |||||
Derivative Financial Instruments, Liabilities [Member] | Derivative Financial Instruments, Liabilities [Member] | |||||
Minimum | Maximum | |||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ||
Fair value inputs, long dated treasuries | ' | ' | 2.82% | [1] | 2.91% | [1] |
Fair value inputs, own credit risk | ' | ' | 0.98% | [2] | 1.59% | [2] |
Fair Value | $0 | ($826) | ' | ' | ||
[1] | Represents the forward 30 year Treasury CMT Rate. | |||||
[2] | Represents credit default swap spread curve used in the valuation analysis at December 31, 2012. |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property | |||
sqft | |||
Buildings | |||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Number of leased properties granting the tenants options to purchase the property | 3 | ' | ' |
Letter of credit and performance bonds in the aggregate amount | $8,054 | ' | ' |
Number of industrial properties committed to development | 3 | ' | ' |
Gross leasable area (GLA) of industrial properties committed to development | 800,000 | ' | ' |
Estimated total construction costs | 49,200 | ' | ' |
Estimated total construction costs remaining to be funded | 23,900 | ' | ' |
Operating and ground lease expense | $1,440 | $1,565 | $1,955 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Future Minimum Rental Payments Under Terms of all Non-Cancelable Ground and Operating Leases (Detail) (USD $) | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | |
2014 | $1,824 | |
2015 | 1,660 | |
2016 | 1,673 | |
2017 | 1,702 | |
2018 | 1,100 | |
Thereafter | 25,117 | |
Total | $33,076 | [1] |
[1] | Minimum rental payments have not been reduced by minimum sublease rentals of $6,832 due in the future under non-cancelable subleases. |
Commitments_and_Contingencies_3
Commitments and Contingencies Commitments and Contingencies - Future Minimum Rental Payments Under Terms of all Non-Cancelable Ground and Operating Leases (Parenthetical) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Minimum rental payments have not been reduced by minimum sublease rentals due in the future under non-cancelable subleases. | $6,832 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 12 Months Ended | 2 Months Ended | 0 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Feb. 27, 2014 | Feb. 03, 2014 | Feb. 03, 2014 | Jan. 29, 2014 | Jan. 29, 2014 | Jan. 29, 2014 | Jan. 29, 2014 | |
Property | Property | Property | Series F Preferred Stock | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Unsecured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | Series F Agreement | Series F Agreement | |
Parcels | Series F Preferred Stock | Series G Preferred Stock [Member] | Subsequent Event [Member] | Unsecured Debt [Member] | Subsequent Event [Member] | Unsecured Debt [Member] | |||||
Subsequent Event [Member] | Subsequent Event [Member] | ||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of industrial properties acquired | 2 | 1 | 1 | ' | 1 | ' | ' | ' | ' | ' | ' |
Purchase price of acquisition | $73,642,000 | $55,508,000 | $5,277,000 | ' | $13,400,000 | ' | ' | ' | ' | ' | ' |
Number of industrial properties sold | 67 | 28 | 36 | ' | 1 | ' | ' | ' | ' | ' | ' |
Proceeds from sale of industrial property | 126,250,000 | 82,503,000 | 75,953,000 | ' | 1,335,000 | ' | ' | ' | ' | ' | ' |
Loan Principal | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' |
Loan Term | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' |
Basis points in addition to LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | 175.00% | ' | ' |
Derivative, notional amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' |
Fixed interest rate converted from LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.04% |
Stock announced to be redeemed, shares | ' | ' | ' | ' | ' | 50,000 | 25,000 | ' | ' | ' | ' |
Redemption price per share | ' | ' | ' | $1,000 | ' | $1,000 | $1,000 | ' | ' | ' | ' |
Aggregate redemption price | ($150,051,000) | ($50,044,000) | ' | $50,000,000 | ' | $50,000 | $25,000 | ' | ' | ' | ' |
Quarterly_Financial_Informatio2
Quarterly Financial Information - Net Income (loss) Available to Common Stockholders and Basic and Diluted EPS (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenues | $84,136 | $81,294 | $82,098 | $80,698 | $81,220 | $76,636 | $78,946 | $77,523 | $328,226 | $314,325 | $302,668 |
Equity in Income of Joint Ventures | 17 | 72 | 27 | 20 | 1,403 | 28 | 37 | 91 | 136 | 1,559 | 980 |
Noncontrolling Interest Allocable to Continuing Operations | -67 | 39 | 293 | 128 | 487 | 204 | 1,005 | 538 | -356 | -2,038 | -3,185 |
Income (Loss) from Continuing Operations, Net of Noncontrolling Interest | 2,699 | 2,592 | -984 | 1,027 | -3,081 | -246 | -12,502 | -4,396 | ' | ' | ' |
(Loss) Income from Discontinued Operations | 19,323 | 5,919 | 12,639 | -2,284 | 1,164 | 5,869 | 3,141 | 5,989 | 35,597 | 16,163 | 23,523 |
Noncontrolling Interest Allocable to Discontinued Operations | -797 | -246 | -538 | 104 | -54 | -285 | -167 | -331 | -1,477 | -837 | -1,440 |
Gain on Sale of Real Estate, Net of Income Tax | 337 | 291 | 0 | 262 | 0 | 3,777 | 0 | 0 | 890 | 3,777 | 918 |
Noncontrolling Interest Allocable to Gain on Sale of Real Estate | -13 | -12 | 0 | -12 | 0 | -196 | 0 | 0 | ' | ' | ' |
Net Income (Loss) Attributable to First Industrial Realty Trust, Inc. | 21,549 | 8,544 | 11,117 | -903 | -1,971 | 8,919 | -9,528 | 1,262 | 40,307 | -1,318 | -7,445 |
Preferred Dividends | -1,227 | -1,392 | -2,277 | -3,837 | -4,662 | -4,725 | -4,798 | -4,762 | -8,733 | -18,947 | -19,565 |
Redemption of Preferred Stock | 0 | -2,121 | -3,546 | 0 | -1,804 | 0 | 0 | 0 | -5,667 | -1,804 | 0 |
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities | 20,322 | 5,031 | 5,294 | -4,740 | -8,437 | 4,194 | -14,326 | -3,500 | 25,907 | -22,069 | -27,010 |
Income From Continuing Operations Allocable to Participating Securities | -8 | 0 | 0 | -36 | ' | ' | ' | ' | ' | ' | ' |
Income from Discontinued Operations Allocable to Participating Securities | 82 | 42 | 42 | 0 | 0 | 33 | 0 | 0 | 162 | 0 | 0 |
Net (Loss) Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders | $20,232 | $4,989 | $5,252 | ($4,776) | ($8,437) | $4,161 | ($14,326) | ($3,500) | ' | ' | ' |
Basic and Diluted Earnings Per Share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $0.01 | $0 | ($0.06) | ($0.03) | ($0.10) | ($0.02) | ($0.19) | ($0.11) | ($0.08) | ($0.41) | ($0.61) |
(Loss) Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.'s Common Stockholders | $0.17 | $0.05 | $0.11 | ($0.02) | $0.01 | $0.06 | $0.03 | $0.07 | $0.32 | $0.17 | $0.27 |
Net (Loss) Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders | $0.18 | $0.05 | $0.05 | ($0.05) | ($0.09) | $0.04 | ($0.16) | ($0.04) | $0.24 | ($0.24) | ($0.34) |
Weighted Average Shares - Basic and Diluted | ' | ' | ' | ' | 97,738 | 93,488 | 87,981 | 86,575 | 106,995 | 91,468 | 80,616 |
Weighted Average Shares - Basic | 109,490 | 109,474 | 108,117 | 100,774 | ' | ' | ' | ' | ' | ' | ' |
LTIP Unit Awards | 485 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Shares - Diluted | 109,975 | 109,474 | 108,117 | 100,774 | ' | ' | ' | ' | ' | ' | ' |
Schedule_III_Real_Estate_and_A
Schedule III - Real Estate and Accumulated Depreciation (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | 4250 River Green Parkway [Member] | 3450 Corporate Way [Member] | 1650 Highway 155 [Member] | 1665 Dogwood [Member] | 1715 Dogwood [Member] | 11235 Harland Drive [Member] | 4051 Southmeadow Parkway [Member] | 4071 Southmeadow Parkway [Member] | 4081 Southmeadow Parkway [Member] | 5570 Tulane Dr [Member] | 955 Cobb Place [Member] | 1005 Sigman Road [Member] | 2050 East Park Drive [Member] | 1256 Oakbrook Drive [Member] | 1265 Oakbrook Drive [Member] | 1280 Oakbrook Drive [Member] | 1300 Oakbrook Drive [Member] | 1325 Oakbrook Drive [Member] | 1351 Oakbrook Drive [Member] | 1346 Oakbrook Drive [Member] | 3060 South Park Blvd [Member] | Greenwood Industrial Park [Member] | 46 Kent Drive [Member] | 605 Stonehill Drive [Member] | 5095 Phillip Lee Drive [Member] | 6514 Warren Drive [Member] | 6544 Warren Drive [Member] | 5356 E. Ponce De Leon [Member] | 5390 E. Ponce De Leon [Member] | 195 & 197 Collins Boulevard [Member] | 1755 Enterprise Drive [Member] | 4555 Atwater Court [Member] | 80 Liberty Industrial Parkway [Member] | 596 Bonnie Valentine [Member] | 11415 Old Roswell Road [Member] | 9700 Martin Luther King Hwy [Member] | 9730 Martin Luther King Hwy [Member] | 4621 Boston Way [Member] | 4720 Boston Way [Member] | 22520 Randolph Drive [Member] | 22630 Dulles Summit Court [Member] | 4201 Forbes Boulevard [Member] | 4370-4383 Lottsford Vista Rd [Member] | 4400 Lottsford Vista Rd [Member] | 4420 Lottsford Vista Road [Member] | 11204 McCormick Road [Member] | 11110 Pepper Road [Member] | 11100-11120 Gilroy Road [Member] | 318 Clubhouse Lane [Member] | 10709 Gilroy Road [Member] | 10707 Gilroy Road [Member] | 38 Loveton Circle [Member] | 7120-7132 Ambassador Road [Member] | 7142 Ambassador Road [Member] | 7144-7162 Ambassador Road [Member] | 7223-7249 Ambassador Road [Member] | 7200 Rutherford Road [Member] | 2700 Lord Baltimore Road [Member] | 1225 Bengies Road [Member] | 1214-B Freedom Road [Member] | 401 Russell Drive [Member] | 2700 Commerce Drive [Member] | 2701 Commerce Drive [Member] | 2780 Commerce Drive [Member] | 350 Old Silver Spring Road [Member] | 16522 Hunters Green Parkway [Member] | 18212 Shawley Drive [Member] | 37 Valley View Drive [Member] | 301 Railroad Avenue [Member] | 431 Railroad Avenue [Member] | 6951 Allentown Blvd [Member] | 320 Reliance Road [Member] | 1351 Eisenhower Blvd., Bldg 1 [Member] | 1351 Eisenhower Blvd., Bldg 2 [Member] | 1490 Dennison Circle [Member] | 298 First Avenue [Member] | 225 Cross Farm Lane [Member] | 105 Steamboat Blvd [Member] | Twenty Leo Lane [Member] | 720-730 Landwehr Road [Member] | 1385 101st Street [Member] | 6750 South Sayre Avenue [Member] | 585 Slawin Court [Member] | 2300 Windsor Court [Member] | 305-311 Era Drive [Member] | 365 North Avenue [Member] | 11241 Melrose Street [Member] | 11939 South Central Avenue [Member] | 1010-50 Sesame Street [Member] | 2120-24 Roberts [Member] | 800 Business Drive [Member] | 580 Slawin Court [Member] | 1005 101st Street [Member] | 175 Wall Street [Member] | 800-820 Thorndale Avenue [Member] | 251 Airport Road [Member] | 1661 Feehanville Drive [Member] | 400 Crossroads Pkwy [Member] | 7609 W. Industrial Drive [Member] | 7801 W. Industrial Drive [Member] | 825 E. 26th Street [Member] | 725 Kimberly Drive [Member] | 17001 S. Vincennes [Member] | 1111 Davis Road [Member] | 2900 W. 166th Street [Member] | Four Thousand One Hundred Rock Creek Blvd [Member] | 555 W. Algonquin Rd [Member] | Ten Thousand One Hundred Fifty Eight Th Place [Member] | 7000 W. 60th Street [Member] | 9501 Nevada [Member] | 1501 Oakton Street [Member] | 16500 W. 103rd Street [Member] | 8505 50th Street [Member] | 9900-9970 Princeton [Member] | 2940 Highland [Member] | 4700-4750 Creek Road [Member] | 4436 Mulhauser Road [Member] | 4438 Mulhauser Road [Member] | 420 Wards Corner Road [Member] | 422 Wards Corner Road [Member] | 4663 Dues Drive [Member] | 9345 Princeton-Glendale [Member] | 9525 Glades Drive [Member] | 9776-9876 Windisch Road [Member] | 9808-9830 Windisch Road [Member] | 9842-9862 Windisch Road [Member] | 9872-9898 Windisch Road [Member] | 9902-9922 Windisch Road [Member] | 30311 Emerald Valley Parkway [Member] | 30333 Emerald Valley Parkway [Member] | 7800 Cochran Road [Member] | 7900 Cochran Road [Member] | 7905 Cochran Road [Member] | 30600 Carter Street [Member] | 8181 Darrow Road [Member] | 4785 Elati [Member] | 4770 Fox Street [Member] | 3851-3871 Revere [Member] | 4570 Ivy Street [Member] | 5855 Stapleton Drive North [Member] | 5885 Stapleton Drive North [Member] | 5977 North Broadway [Member] | 5952-5978 North Broadway [Member] | 4721 Ironton Street [Member] | 7003 E 47th Ave Drive [Member ] | 9500 West 49th Street - A [Member] | 9500 West 49th Street - B [Member] | 9500 West 49th Street - C [Member] | 9500 West 49th Street - D [Member] | 451-591 East 124th Avenue [Member] | 15000 West 6th Avenue [Member] | 14998 West 6th Avenue Bldg E [Member] | 14998 West 6 th Avenue Bldg F [Member] | 6547 South Racine Circle [Member] | 11701 East 53rd Avenue [Member] | 5401 Oswego [Member] | One Four Eight One Eight West Six Th Avenue Bldg A [Member] | 14828 West 6th Avenue Bldg B [Member] | 445 Bryant Street [Member] | 3811 Joliet [Member] | 12055 E 49th Ave/4955 Peoria [Member] | 4940 - 4950 Paris [Member] | 4970 Paris [Member] | 7367 South Revere Parkway [Member] | 8200 East Park Meadows Drive [Member] | 3250 Quentin Street [Member] | Highpoint Bus Ctr B [Member] | 1130 W. 124th Ave. [Member] | 1070 W. 124th Ave. [Member] | 1020 W. 124th Ave. [Member] | 8810 W. 116th Circle [Member] | 960 W. 124th Ave [Member] | 8820 W. 116th Circle [Member] | 8835 W. 116th Circle [Member] | 18150 E. 32nd Place [Member] | 3400 Fraser Street [Member] | 7005 E. 46th Avenue Drive [Member] | 4001 Salazar Way [Member] | 5909-5915 N. Broadway [Member] | 2406-2416 Walnut Ridge [Member] | 2401-2419 Walnut Ridge [Member] | 900-906 Great Southwest Pkwy [Member] | 3000 West Commerce [Member] | 3030 Hansboro [Member] | 405-407 113th [Member] | 816 111th Street [Member] | 7427 Dogwood Park [Member] | 7348-54 Tower Street [Member] | 7339-41 Tower Street [Member] | 7437-45 Tower Street [Member] | 7331-59 Airport Freeway [Member] | 7338-60 Dogwood Park [Member] | 7450-70 Dogwood Park [Member] | 7423-49 Airport Freeway [Member] | 7400 Whitehall Street [Member] | 1602-1654 Terre Colony [Member] | 2351-2355 Merritt Drive [Member] | 2220 Merritt Drive [Member] | 2010 Merritt Drive [Member] | 2363 Merritt Drive [Member] | 2447 Merritt Drive [Member] | 2465-2475 Merritt Drive [Member] | 2485-2505 Merritt Drive [Member] | 2110 Hutton Drive [Member] | 2025 McKenzie Drive [Member] | 2019 McKenzie Drive [Member] | 2029-2035 McKenzie Drive [Member] | 2015 McKenzie Drive [Member] | 2009 McKenzie Drive [Member] | 900-1100 Avenue S [Member] | Plano Crossing [Member] | 7413A-C Dogwood Park [Member] | 7450 Tower Street [Member] | 7436 Tower Street [Member] | 7426 Tower Street [Member] | 7427-7429 Tower Street [Member] | 2840-2842 Handley Ederville Rd [Member] | Eight Two Five Eight Two Seven Avenue H D [Member] | One Two Zero Zero One Six Avenue H D [Member] | 1322-66 W. North Carrier Parkway [Member] | 2401-2407 Centennial Dr [Member] | 3111 West Commerce Street [Member] | 13800 Senlac Drive [Member] | 801-831 S Great Southwest Pkwy [Member] | 801 Heinz Way [Member] | 901-937 Heinz Way [Member] | 3301 Century Circle [Member] | 3901 W Miller Road [Member] | 1731 Thorncroft [Member] | 47461 Clipper [Member] | 449 Executive Drive [Member] | 501 Executive Drive [Member] | 451 Robbins Drive [Member] | 1416 Meijer Drive [Member] | 1624 Meijer Drive [Member] | 1972 Meijer Drive [Member] | 1621 Northwood Drive [Member] | 1707 Northwood Drive [Member] | 1788 Northwood Drive [Member] | 1826 Northwood Drive [Member] | 1864 Northwood Drive [Member] | 2451 Elliott Avenue [Member] | 2730 Research Drive [Member] | 2791 Research Drive [Member] | 2871 Research Drive [Member] | 3011 Research Drive [Member] | 2870 Technology Drive [Member] | 2900 Technology Drive [Member] | 2930 Technology Drive [Member] | 2950 Technology Drive [Member] | 23014 Commerce Drive [Member] | 23028 Commerce Drive [Member] | 23035 Commerce Drive [Member] | 23042 Commerce Drive [Member] | 23065 Commerce Drive [Member] | 23079 Commerce Drive [Member] | 23093 Commerce Drive [Member] | 23135 Commerce Drive [Member] | 23163 Commerce Drive [Member] | 23177 Commerce Drive [Member] | 23206 Commerce Drive [Member] | 23370 Commerce Drive [Member] | 1451 East Lincoln Avenue [Member] | 4400 Purks Drive [Member] | 32450 N Avis Drive [Member] | 12707 Eckles Road [Member] | 9300-9328 Harrison Rd [Member] | 9330-9358 Harrison Rd [Member] | 28420-28448 Highland Rd [Member] | 28450-28478 Highland Rd [Member] | 28421-28449 Highland Rd [Member] | 28451-28479 Highland Rd [Member] | 28825-28909 Highland Rd [Member] | 28933-29017 Highland Rd [Member] | 28824-28908 Highland Rd [Member] | 28932-29016 Highland Rd [Member] | 9710-9734 Harrison Rd [Member] | Nine Seven Four Zero Nine Seven Seven Two Harrison Rd [Member] | 9840-9868 Harrison Rd [Member] | 9800-9824 Harrison Rd [Member] | 29265-29285 Airport Dr [Member] | 29185-29225 Airport Dr [Member] | 29149-29165 Airport Dr [Member] | 29101-29115 Airport Dr [Member] | 29031-29045 Airport Dr [Member] | 29050-29062 Airport Dr [Member] | 29120-29134 Airport Dr [Member] | 29200-29214 Airport Dr [Member] | 9301-9339 Middlebelt Rd [Member] | 32975 Capitol Avenue [Member] | 32920 Capitol Avenue [Member] | 11923 Brookfield Avenue [Member] | 13405 Stark Road [Member] | 450 Robbins Drive [Member] | 12886 Westmore Avenue [Member] | 33025 Industrial Road [Member] | 47711 Clipper Street [Member] | 32975 Industrial Road [Member] | 32985 Industrial Road [Member] | 32995 Industrial Road [Member] | 12874 Westmore Avenue [Member] | 1775 Bellingham [Member] | 1785 East Maple [Member] | 1807 East Maple [Member] | 980 Chicago [Member] | 1840 Enterprise Drive [Member] | 1885 Enterprise Drive [Member] | 1935-55 Enterprise Drive [Member] | 5500 Enterprise Court [Member] | 750 Chicago Road [Member] | 800 Chicago Road [Member] | 850 Chicago Road [Member] | 1100 East Mandoline Road [Member] | One Zero Eight Zero One One Two Zero One One Eight Zero John Papalas Drive [Member] | 4872 S. Lapeer Road [Member] | 22701 Trolley Industrial [Member] | 1400 Allen Drive [Member] | 1408 Allen Drive [Member] | 32505 Industrial Drive [Member] | One Seven Nine Nine to One Eight Five Five Northfield Drive [Member] | 28435 Automation Blvd [Member] | 32200 N Avis Drive [Member] | 100 Kay Industrial Drive [Member] | 11800 Sears Drive [Member] | 1099 Chicago Road [Member] | 42555 Merrill Road [Member] | 200 Northpointe Drive [Member] | 2102-2314 Edwards Street [Member] | 3351 Rauch St [Member] | 3801-3851 Yale St [Member] | 3337-3347 Rauch Street [Member] | 8505 N Loop East [Member] | 4749-4799 Eastpark Dr [Member] | 4851 Homestead Road [Member] | 3365-3385 Rauch Street [Member] | 5050 Campbell Road [Member] | 4300 Pine Timbers [Member] | 2500-2530 Fairway Park Drive [Member] | 6550 Longpointe [Member] | 1815 Turning Basin Dr [Member] | 1819 Turning Basin Dr [Member] | 1805 Turning Basin Dr [Member] | 9835A Genard Road [Member] | 9835B Genard Road [Member] | 11505 State Highway 225 [Member] | 1500 E. Main Street [Member] | 700 Industrial Blvd [Member] | 7230-7238 Wynnwood [Member] | 7240-7248 Wynnwood [Member] | 7250-7260 Wynnwood [Member] | 6400 Long Point [Member] | 12705 S. Kirkwood, Ste 100-150 [Member] | 12705 S. Kirkwood, Ste 200-220 [Member] | 8850 Jameel [Member] | 8800 Jameel [Member] | 8700 Jameel [Member] | 8600 Jameel [Member] | 7967 Blankenship [Member] | 8800 City Park Look East [Member] | 2900 N Shadeland Avenue [Member] | 1445 Brookville Way [Member] | 1440 Brookville Way [Member] | 1240 Brookville Way [Member] | 1345 Brookville Way [Member] | 1350 Brookville Way [Member] | 1341 Sadlier Circle South [Member] | 1322-1438 Sadlier Circle East [Member] | 1327-1441 Sadlier Circle West [Member] | 1304 Sadlier Circle West [Member] | 1402-1430 Sadlier Circle West [Member] | 1504 Sadlier Circle South [Member] | 1365-1367 Sadlier Way Circle East [Member] | 1352-1354 Sadlier Circle West [Member] | 1335 Sadlier Circle East [Member] | 1425 Sadlier Circle West [Member] | 6951 East 30th St [Member] | 6701 East 30th St [Member] | 6737 East 30th St [Member] | 6555 East 30th St [Member] | 8402-8440 E 33rd St [Member] | 8520-8630 E 33rd St [Member] | 8710-8768 E 33rd St [Member] | 3316-3346 N. Pagosa Court [Member] | 7901 West 21st St. [Member] | 1225 Brookville Way [Member] | 6751 E 30th St [Member] | 6575 East 30th Street [Member] | 6585 East 30th Street [Member] | 5705-97 Park Plaza Ct. [Member] | 9319-9341 Castlegate Drive [Member] | 1133 Northwest L Street [Member] | 14425 Bergen Blvd [Member] | 4700 NW 15th Ave [Member] | 4710 NW 15th Ave [Member] | 4720 NW 15th Ave [Member] | 4740 NW 15th Ave [Member] | 4750 NW 15th Ave [Member] | 4800 NW 15th Ave [Member] | Medley Industrial Center [Member] | 12601 &12605 NW 115th Avenue [Member] | N25 W23255 Paul Road [Member] | 5355 South Westridge Drive [Member] | 320-334 W. Vogel Avenue [Member] | 4950 South 6th Avenue [Member] | 17005 W. Ryerson Road [Member] | W140 N9059 Lilly Road [Member] | 200 W. Vogel Avenue-Bldg B [Member] | 4921 S. 2nd Street [Member] | 1500 Peebles Drive [Member] | 16600 West Glendale Ave [Member] | 2905 S. 160th Street [Member] | 2855 S.160th Street [Member] | 2485 Commerce Drive [Member] | 14518 Whittaker Way [Member] | N58W15380 Shawn Circle [Member] | 6201 West 111th Street [Member] | 7251-7267 Washington Avenue [Member] | 7301-7325 Washington Avenue [Member] | 7101 Winnetka Avenue North [Member] | 9901 West 74th Street [Member] | 1030 Lone Oak Road [Member] | 1060 Lone Oak Road [Member] | 5400 Nathan Lane [Member] | 6655 Wedgewood Road [Member] | 10120 W 76th Street [Member] | 12155 Nicollet Ave. [Member] | 4100 Peavey Road [Member] | 5205 Highway 169 [Member] | 7100-7198 Shady Oak Road [Member] | 7500-7546 Washington Avenue [Member] | 7550-7586 Washington Avenue [Member] | 5240-5300 Valley Industrial Blvd S [Member] | 500-530 Kasota Avenue SE [Member] | 2530-2570 Kasota Avenue [Member] | 5775 12th Avenue [Member] | 1157 Valley Park Drive [Member] | 9600 West 76th Street [Member] | 9700 West 76th Street [Member] | 7600 69th Avenue [Member] | 5017 Boone Avenue North [Member] | 2300 West Highway 13 [Member] | 1087 Park Place [Member] | 5391 12th Avenue SE [Member] | 4701 Valley Industrial Blvd S [Member] | 6455 City West Parkway [Member] | 7035 Winnetka Avene North [Member] | 139 Eva Street [Member] | 21900 Dodd Boulevard [Member] | 1621 Heil Quaker Boulevard [Member] | 3099 Barry Drive [Member] | 1931 Air Lane Drive [Member] | 4640 Cummings Park [Member] | 1740 River Hills Drive [Member] | 211 Ellery Court [Member] | 130 Maddox Road [Member] | 14 World's Fair Drive [Member] | 12 World's Fair Drive [Member] | 22 World's Fair Drive [Member] | 26 World's Fair Drive [Member] | 24 World's Fair Drive [Member] | 20 World's Fair Drive Lot 13 [Member] | 45 Route 46 [Member] | 43 Route 46 [Member] | 39 Route 46 [Member] | 26 Chapin Road [Member] | 30 Chapin Road [Member] | 20 Hook Mountain Road [Member] | 30 Hook Mountain Road [Member] | 16 Chapin Rod [Member] | 20 Chapin Road [Member] | 2500 Main Street [Member] | 2400 Main Street [Member] | 309-319 Pierce Street [Member] | 230-240 Welsh Pool Road [Member] | 264 Welsh Pool Road [Member] | 254 Welsh Pool Road [Member] | 243-251 Welsh Pool Road [Member] | 151-161 Philips Road [Member] | 216 Philips Road [Member] | 14 McFadden Road [Member] | 2801 Red Lion Road [Member] | 3240 S. 78th Street [Member] | 200 Cascade Drive, Bldg. 1 [Member] | 200 Cascade Drive, Bldg. 2 [Member] | 6300 Bristol Pike [Member] | 2455 Boulevard of Generals [Member] | 1045 South Edward Drive [Member] | 50 South 56th Street [Member] | 4701 W. Jefferson [Member] | 7102 W. Roosevelt [Member] | 4137 West Adams Street [Member] | 245 W. Lodge [Member] | 1590 E Riverview Dr. [Member] | 14131 N. Rio Vista Blvd [Member] | 8716 W. Ludlow Drive [Member] | 3815 W. Washington St. [Member] | 9180 W. Buckeye Road [Member] | 1270 West 2320 South [Member] | 1275 West 2240 South [Member] | 1288 West 2240 South [Member] | 2235 South 1300 West [Member] | 1293 West 2200 South [Member] | 1279 West 2200 South [Member] | 1272 West 2240 South [Member] | 1149 West 2240 South [Member] | 1142 West 2320 South [Member] | 1152 West 2240 South [Member] | 2323 South 900 W [Member] | 1815-1957 South 4650 West [Member] | 2100 Alexander Street [Member] | 2064 Alexander Street [Member] | 1901 Raymond Ave SW [Member] | 19014 64th Avenue South [Member] | 18640 68th Avenue South [Member] | 3480 Marginal Way [Member] | 1944 Vista Bella Way [Member] | 2000 Vista Bella Way [Member] | 2835 East Ana Street [Member] | 16275 Technology Drive [Member] | 8921- 8971 Fost Avenue [Member] | 9043-9083 Frost Avenue [Member] | 10431 Midwest Industrial Blvd [Member] | 10751 Midwest Industrial Boulevard [Member] | 6951 N Hanley [Member] | 1067-1083 Warson-Bldg A [Member] | 1093-1107 Warson-Bldg B [Member] | 1113-1129 Warson-Bldg C [Member] | 1131-1151 Warson-Bldg D [Member] | 6821-6857 Hazelwood Avenue [Member] | 13701 Rider Trail North [Member] | 1908-2000 Innerbelt [Member] | 9060 Latty Avenue [Member] | 21-25 Gateway Commerce Center [Member] | 6647 Romiss Court [Member] | 5313 Johns Road [Member] | 5525 Johns Road [Member] | 5709 Johns Road [Member] | 5711 Johns Road [Member] | 5453 W Waters Avenue [Member] | 5455 W Waters Avenue [Member] | 5553 W Waters Avenue [Member] | 5501 W Waters Avenue [Member] | 5503 W Waters Avenue [Member] | 5555 W Waters Avenue [Member] | 5557 W Waters Avenue [Member] | 5463 W Waters Avenue [Member] | 5461 W Waters Avenue [Member] | 5481 W Waters Avenue [Member] | 4515-4519 George Road [Member] | 6089 Johns Road [Member] | 6091 Johns Road [Member] | 6103 Johns Road [Member] | 6201 Johns Road [Member] | 6203 Johns Road [Member] | 6205 Johns Road [Member] | 6101 Johns Road [Member] | 4908 Tampa West Blvd [Member] | 7201-7281 Bryan Dairy Road [Member] | 11701 Belcher Road South [Member] | 4900- 4914 Creekside Drive [Member] | 12345 Starkey Road [Member] | 5050 Kendrick Court [Member] | 2250 Delaware Ave [Member] | 9601A Dessau Road [Member] | 9601C Dessau Road [Member] | 9601B Dessau Road [Member] | 6266 Hurt Road [Member] | 665 N. Baldwin Park Blvd [Member] | 27801 Avenue Scott [Member] | 2610 & 2660 Columbia [Member] | 433 Alaska Avenue [Member] | 4020 S. Compton Ave [Member] | 6305 El Camino Real [Member] | 2325 Camino Vida Roble [Member] | 2335 Camino Vida Roble [Member] | 2345 Camino Vida Roble [Member] | 2355 Camino Vida Roble [Member] | 2365 Camino Vida Roble [Member] | 2375 Camino Vida Roble [Member] | 6451 El Camino Real [Member] | 8572 Spectrum Lane [Member] | 13100 Gregg Street [Member] | 21730-21748 Marilla St. [Member] | 8015 Paramount [Member] | 3365 E. Slauson [Member] | 3015 East Ana [Member] | 19067 Reyes Avenue [Member] | 24870 Nandina Avenue [Member] | 1250 Rancho Conejo Blvd [Member] | 1260 Rancho Conejo Blvd [Member] | 1270 Rancho Conejo Blvd [Member] | 1280 Rancho Conejo Blvd [Member] | 1290 Rancho Conejo Blvd [Member] | 100 West Sinclair Street [Member] | 14050 Day Street [Member] | 12925 Marlay Avenue [Member] | 18201-18291 Santa Fe [Member] | 1011 Rancho Conejo [Member] | 2300 Corporate Center Drive [Member] | 20700 Denker Avenue [Member] | 18408 Laurel Park Road [Member] | 19021 S. Reyes Ave [Member] | Six One Eight Five Kimball Ave [Member] | Five Five Five Five Bandini Blvd [Member] | 2060 Springdale Road [Member] | 111 Whittendale Drive [Member] | 7851 Airport Highway [Member] | 103 Central Avenue [Member] | 7890 Airport Hwy/7015 Central [Member] | 600 Creek Road [Member] | 6301 Hazeltine National Drive [Member] | 12626 Silicon Drive [Member] | 3100 Pinson Valley Parkway [Member] | 3730 Wheeler Avenue [Member] | 3200 Pond Station [Member] | 7501 NW 106th Terrace [Member] | 600 Greene Drive [Member] | Developments / Land Parcels [Member] | Seven Four Five One Seven Four Seven Seven Airport Freeway [Member] | Seven Four Five Zero Whitehall Street [Member] | Three Zero Zero Zero Wesley Way [Member] | Seven Four Five One Dogwood Park [Member] | One Zero One Three Three One Avenue M [Member] | One One Seven Two Eight Four One One Three Th Street D [Member] | Five Eight One Welltown Road Tyson Blvd [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Location (City/State) | ' | ' | ' | ' | 'Duluth, GA | 'Duluth, GA | 'McDonough, GA | 'Conyers, GA | 'Conyers, GA | 'Covington, GA | 'Atlanta, GA | 'Atlanta, GA | 'Atlanta, GA | 'Atlanta, GA | 'Kennesaw, GA | 'Conyers, GA | 'Conyers, GA | 'Norcross, GA | 'Norcross, GA | 'Norcross, GA | 'Norcross, GA | 'Norcross, GA | 'Norcross, GA | 'Norcross, GA | 'Ellenwood, GA | 'McDonough, GA | 'Cartersville GA | 'Atlanta, GA | 'Atlanta, GA | 'Norcross, GA | 'Norcross, GA | 'Stone Mountain, GA | 'Stone Mountain, GA | 'Athens, GA | 'Buford, GA | 'Buford, GA | 'McDonough, GA | 'Pendergrass, GA | 'Alpharetta, GA | 'Lanham, MD | 'Lanham, MD | 'Lanham, MD | 'Lanham, MD | 'Dulles, VA | 'Dulles, VA | 'Lanham, MD | 'Lanham, MD | 'Lanham, MD | 'Lanham, MD | 'Hunt Valley, MD | 'Hunt Valley, MD | 'Hunt Valley, MD | 'Hunt Valley, MD | 'Hunt Valley, MD | 'Hunt Valley, MD | 'Sparks, MD | 'Baltimore, MD | 'Hunt Valley, MD | 'Baltimore, MD | 'Woodlawn, MD | 'Baltimore, MD | 'Baltimore, MD | 'Baltimore, MD | 'Cranberry Township, PA | 'Middletown, PA | 'Middletown, PA | 'Middletown, PA | 'Middletown, PA | 'Mechanicsburg, PA | 'Hagerstown, MD | 'Hagerstown, MD | 'Jessup, PA | 'Shiremanstown, PA | 'Shiremanstown, PA | 'Harrisburg, PA | 'Washington, PA | 'Harrisburg, PA | 'Harrisburg, PA | 'Carlisle, PA | 'Gouldsboro, PA | 'York, PA | 'Manchester, PA | 'York County, PA | 'Northbrook, IL | 'Lemont, IL | 'Bedford Park, IL | 'Mount Prospect, IL | 'Addison, IL | 'Northbrook, IL | 'Carol Stream, IL | 'Franklin Park, IL | 'Alsip, IL | 'Bensenville, IL | 'Broadview, IL | 'Mount Prospect, IL | 'Mount Prospect, IL | 'Lemont, IL | 'Glendale Heights, IL | 'Bensenville, IL | 'North Aurora, IL | 'Mount Prospect, IL | 'Bolingbrook, IL | 'Forest Park, IL | 'Forest Park, IL | 'LaGrange, IL | 'Carol Stream, IL | 'Thornton, IL | 'Elgin, IL | 'Markham, IL | 'Joliet, IL | 'Arlington Heights, IL | 'Kenosha, WI | 'Chicago, IL | 'Franklin Park, IL | 'Elk Grove Village, IL | 'Woodridge, IL | 'Kenosha, WI | 'Cincinnati, OH | 'Cincinnati, OH | 'Blue Ash, OH | 'Hamilton, OH | 'Hamilton, OH | 'Loveland, OH | 'Loveland, OH | 'Westchester, OH | 'Westchester, OH | 'Westchester, OH | 'Westchester, OH | 'Westchester, OH | 'Westchester, OH | 'Westchester, OH | 'Westchester, OH | 'Glenwillow, OH | 'Glenwillow, OH | 'Glenwillow, OH | 'Glenwillow, OH | 'Glenwillow, OH | 'Solon, OH | 'Twinsburg, OH | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Wheatridge, CO | 'Wheatridge, CO | 'Wheatridge, CO | 'Wheatridge, CO | 'Littleton, CO | 'Golden, CO | 'Golden, CO | 'Englewood, CO | 'Englewood, CO | 'Denver, CO | 'Denver, CO | 'Golden, CO | 'Golden, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Denver, CO | 'Englewood, CO | 'Lone Tree, CO | 'Aurora, CO | 'Littleton, CO | 'Westminster, CO | 'Westminster, CO | 'Westminster, CO | 'Broomfield, CO | 'Westminster, CO | 'Broomfield, CO | 'Broomfield, CO | 'Aurora, CO | 'Aurora, CO | 'Denver, CO | 'Frederick, CO | 'Denver, CO | 'Dallas, TX | 'Dallas, TX | 'Arlington, TX | 'Dallas, TX | 'Dallas, TX | 'Arlington, TX | 'Arlington, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Dallas, TX | 'Garland, TX | 'Garland, TX | 'Garland, TX | 'Garland, TX | 'Garland, TX | 'Garland, TX | 'Garland, TX | 'Carrolton, TX | 'Carrolton, TX | 'Carrolton, TX | 'Carrolton, TX | 'Carrolton, TX | 'Carrolton, TX | 'Grand Prairie, TX | 'Plano, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Arlington, TX | 'Arlington, TX | 'Grand Prairie, TX | 'Arlington, TX | 'Dallas, TX | 'Farmers Ranch, TX | 'Grand Prairie, TX | 'Grand Prairie, TX | 'Grand Prairie, TX | 'Irving, TX | 'Garland, TX | 'Troy, MI | 'Plymouth Township, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Farmington Hills, MI | 'Madison Heights, MI | 'Auburn Hills, MI | 'Madison Heights, MI | 'Plymouth Township, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Romulus, MI | 'Livonia, MI | 'Livonia, MI | 'Livonia, MI | 'Livonia, MI | 'Troy, MI | 'Livonia, MI | 'Livonia, MI | 'Plymouth Township, MI | 'Livonia, MI | 'Livonia, MI | 'Livonia, MI | 'Livonia, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Rochester Hills, MI | 'Warren, MI | 'Troy, MI | 'Troy, MI | 'Troy, MI | 'Madison Heights, MI | 'Lincoln Park, MI | 'Lake Orion Twsp, MI | 'Taylor, MI | 'Troy, MI | 'Troy, MI | 'Madison Heights, MI | 'Rochester Hills, MI | 'Wixom, MI | 'Madison Heights, MI | 'Rion Township, MI | 'Livonia, MI | 'Troy, MI | 'Sterling Heights, MI | 'Orion Township, MI | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'LaPorte City, TX | 'Houston, TX | 'Sugar Land, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Stafford, TX | 'Stafford, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Houston, TX | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Indianapolis, IN | 'Richmond, IN | 'Noblesville, IN | 'Ft. Lauderdale, FL | 'Ft. Lauderdale, FL | 'Ft. Lauderdale, FL | 'Ft. Lauderdale, FL | 'Ft. Lauderdale, FL | 'Ft. Lauderdale, FL | 'Medley, FL | 'Medley, FL | 'Pewaukee, WI | 'New Berlin, WI | 'Milwaukee, WI | 'Milwaukee, WI | 'New Berlin, WI | 'Menomonee Falls, WI | 'Milwaukee, WI | 'Milwaukee, WI | 'Richland Center, WI | 'New Berlin, WI | 'New Berlin, WI | 'New Berlin, WI | 'New Berlin, WI | 'Menomonee Falls, WI | 'Menomonee Falls, WI | 'Bloomington, MN | 'Edina, MN | 'Edina, MN | 'Brooklyn Park, MN | 'Eden Prairie, MN | 'Eagan, MN | 'Eagan, MN | 'Plymouth, MN | 'Maple Grove, MN | 'Eden Prairie, MN | 'Burnsville, MN | 'Chaska, MN | 'Plymouth, MN | 'Eden Prairie, MN | 'Eden Prairie, MN | 'Eden Prairie, MN | 'Shakopee, MN | 'Minneapolis, MN | 'St. Paul, MN | 'Shakopee, MN | 'Shakopee, MN | 'Eden Prairie, MN | 'Eden Prairie, MN | 'Greenfield, MN | 'New Hope, MN | 'Burnsville, MN | 'Shakopee, MN | 'Shakopee, MN | 'Shakopee, MN | 'Eden Prairie, MN | 'Brooklyn Park, MN | 'St. Paul, MN | 'Lakeville, MN | 'Nashville, TN | 'Portland, TN | 'Nashville, TN | 'Nashville, TN | 'Nashville, TN | 'Nashville, TN | 'Gallatin, TN | 'Franklin, NJ | 'Franklin, NJ | 'Franklin, NJ | 'Franklin, NJ | 'Franklin, NJ | 'Sumerset, NJ | 'Pine Brook, NJ | 'Pine Brook, NJ | 'Pine Brook, NJ | 'Pine Brook, NJ | 'Pine Brook, NJ | 'Pine Brook, NJ | 'Pine Brook, NJ | 'Pine Brook, NJ | 'Pine Brook, NJ | 'Sayreville, NJ | 'Sayreville, NJ | 'Somerset, NJ | 'Exton, PA | 'Exton, PA | 'Exton, PA | 'Exton, PA | 'Exton, PA | 'Exton, PA | 'Palmer, PA | 'Philadelphia, PA | 'Philadelphia, PA | 'Allen Town, PA | 'Allen Town, PA | 'Levittown, PA | 'Norristown, PA | 'Tempe, AZ | 'Chandler, AZ | 'Phoenix, AZ | 'Phoenix, AZ | 'Phoenix, AZ | 'Tempe, AZ | 'Phoenix, AZ | 'Peoria, AZ | 'Peoria, AZ | 'Phoenix, AZ | 'Tolleson, AZ | 'West Valley, UT | 'West Valley, UT | 'West Valley, UT | 'West Valley, UT | 'West Valley, UT | 'West Valley, UT | 'West Valley, UT | 'West Valley, UT | 'West Valley, UT | 'West Valley, UT | 'Salt Lake City, UT | 'Salt Lake City, UT | 'West Valley, UT | 'West Valley, UT | 'Renton, WA | 'Kent, WA | 'Kent, WA | 'Seattle, WA | 'Rancho Domingue, CA | 'Rancho Domingue, CA | 'Rancho Domingue, CA | 'San Diego, CA | 'Hazelwood, MO | 'Hazelwood, MO | 'Olivette, MO | 'Olivette, MO | 'Hazelwood, MO | 'St. Louis, MO | 'St. Louis, MO | 'St. Louis, MO | 'St. Louis, MO | 'Berkeley, MO | 'Earth City, MO | 'Overland, MO | 'Berkeley, MO | 'Edwardsville, IL | 'St. Louis, MO | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Tampa, FL | 'Largo, FL | 'Largo, FL | 'Clearwater, FL | 'Largo, FL | 'Grand Rapids, MI | 'Des Moines, IA | 'Austin, TX | 'Austin, TX | 'Austin, TX | 'Horn Lake, MS | 'City of Industry, CA | 'Santa Clarita, CA | 'Torrance, CA | 'Torrance, CA | 'Los Angeles, CA | 'Carlsbad, CA | 'Carlsbad, CA | 'Carlsbad, CA | 'Carlsbad, CA | 'Carlsbad, CA | 'Carlsbad, CA | 'Carlsbad, CA | 'Carlsbad, CA | 'San Diego, CA | 'Poway, CA | 'Chatsworth, CA | 'Pico Rivera, CA | 'Vernon, CA | 'Rancho Domingue, CA | 'Rancho Domingue, CA | 'Moreno Valley, CA | 'Thousand Oaks, CA | 'Thousand Oaks, CA | 'Thousand Oaks, CA | 'Thousand Oaks, CA | 'Thousand Oaks, CA | 'Riverside, CA | 'Moreno Valley, CA | 'Fontana, CA | 'Rancho Domingue, CA | 'Thousand Oaks, CA | 'Thousand Oaks, CA | 'Rancho Domingue, CA | 'Rancho Domingue, CA | 'Rancho Domingue, CA | ' | ' | 'Cherry Hill, NJ | 'Morrestown, NJ | 'Pennsauken, NJ | 'Mt. Laurel, NJ | 'Pennsauken, NJ | 'Delanco, NJ | 'Orlando, FL | 'San Antonio, TX | 'Birmingham, AL | 'Fort Smith, AR | 'Jefferson County, KY | 'Kansas City, MO | 'Greenville, KY | ' | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Richland Hills, TX | 'Grand Prairie, TX | 'Grand Prairie, TX | 'Winchester, VA |
Encumbrances | $677,890 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,281 | $3,008 | $2,163 | ' | $1,290 | $1,167 | $1,161 | $1,640 | $1,362 | ' | ' | ' | $4,523 | $1,757 | $1,534 | $5,008 | $0 | ' | $2,571 | $0 | ' | $1,317 | $2,266 | $0 | ' | $3,148 | ' | ' | ' | ' | $7,301 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,436 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,402 | $1,191 | ' | $1,937 | $1,700 | ' | $11,893 | $6,461 | $3,046 | ' | $8,503 | ' | ' | $1,931 | $1,393 | ' | ' | $17,796 | ' | ' | ' | $4,298 | ' | ' | $3,652 | ' | $6,046 | ' | ' | ' | ' | ' | $818 | $6,141 | $1,478 | ' | $5,171 | ' | ' | ' | ' | ' | ' | ' | $2,777 | ' | ' | ' | ' | ' | ' | $7,283 | $2,448 | ' | $3,743 | ' | ' | $3,715 | $4,575 | ' | ' | ' | $1,555 | ' | ' | ' | ' | ' | ' | $9,320 | $4,693 | $0 | $4,808 | ' | ' | $7,100 | ' | ' | $1,309 | $1,120 | $1,398 | $1,741 | $1,438 | $2,301 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,930 | $0 | ' | ' | ' | $6,904 | $0 | ' | ' | ' | $3,273 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,913 | $2,111 | $1,448 | $0 | $913 | ' | ' | ' | ' | ' | ' | $882 | ' | ' | ' | ' | $1,669 | ' | ' | $1,487 | ' | $1,831 | ' | ' | ' | ' | ' | ' | ' | ' | $1,439 | $1,734 | $1,512 | $2,527 | $2,448 | $2,577 | $9,504 | $0 | ' | ' | $0 | $0 | ' | $2,568 | $1,733 | $4,633 | $2,107 | $3,731 | $3,399 | $0 | $2,697 | $2,065 | $2,173 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,000 | ' | $1,679 | $2,481 | $3,264 | $1,613 | $1,928 | $2,804 | $3,371 | $1,617 | $1,859 | ' | $2,203 | ' | ' | $4,639 | ' | $3,162 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $23,585 | ' | ' | $3,521 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,738 | ' | ' | ' | ' | ' | $5,128 | ' | $2,391 | $1,880 | $2,875 | $2,517 | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,705 | $5,334 | $2,731 | $1,491 | $2,971 | $0 | $1,689 | $0 | ' | $2,360 | $0 | ' | $1,514 | $0 | ' | $3,627 | ' | ' | $5,765 | $3,306 | $2,560 | $3,290 | $2,850 | $6,316 | ' | ' | ' | ' | $4,828 | ' | ' | $2,270 | ' | ' | $4,108 | ' | $2,317 | $3,243 | ' | $0 | ' | $4,196 | $4,510 | $5,660 | ' | ' | ' | $9,203 | $1,955 | ' | $2,398 | $2,113 | $2,898 | $2,832 | $16,406 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,654 | $4,494 | ' | ' | $3,538 | $4,437 | $3,534 | $0 | $3,478 | ' | ' | ' | ' | ' | ' | $1,440 | ' | ' | $17,193 | $2,407 | ' | $3,548 | ' | ' | $2,526 | ' | ' | ' | $4,809 | ' | ' | $3,725 | $6,872 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7,372 | $1,287 | $2,076 | $1,362 | $3,164 | $544 | ' | $3,824 | $1,390 | $3,049 | ' | ' | ' | $1,284 | ' | ' | $1,685 | $2,877 | $2,404 | $2,188 | $0 | ' | $7,343 | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,532 | $932 | $649 | $978 | $932 | $1,331 | $1,260 | $739 | ' | ' | ' | ' | ' | ' | ' | $1,225 | $1,355 | $1,209 | ' | $4,470 | $7,499 | $4,796 | ' | ' | ' | $2,049 | $1,115 | $720 | $596 | $1,204 | $1,412 | ' | $2,237 | ' | $2,988 | ' | ' | ' | ' | ' | ' | ' | ' | $2,971 | $2,559 | ' | $3,376 | $9,265 | $10,015 | $5,629 | ' | $5,399 | ' | ' | ' | ' | ' | $1,933 | ' | ' | $1,182 | ' | $3,809 | $2,580 | ' | ' | ' | $11,200 | $0 | ' | $1,387 | $0 | $907 | $671 | $0 | $1,992 | ' |
Initial Cost of Land | 730,667 | ' | ' | ' | 264 | 506 | 788 | 635 | 288 | 125 | 726 | 750 | 1,012 | 527 | 780 | 566 | 452 | 336 | 307 | 281 | 420 | 332 | 370 | 740 | 1,600 | 1,550 | 794 | 485 | 735 | 510 | 711 | 604 | 397 | 1,410 | 712 | 881 | 756 | 2,580 | 2,403 | 700 | 500 | 1,100 | 1,200 | 3,200 | 2,200 | 356 | 279 | 351 | 539 | 1,017 | 918 | 901 | 701 | 913 | 1,111 | 1,648 | 829 | 924 | 979 | 1,283 | 1,032 | 875 | 2,640 | 31 | 262 | 196 | 141 | 113 | 510 | 1,390 | 1,000 | 542 | 1,181 | 1,293 | 585 | 201 | 382 | 436 | 1,500 | 7,022 | 4,718 | 4,085 | 6,884 | 521 | 967 | 224 | 611 | 688 | 200 | 1,042 | 332 | 1,208 | 979 | 220 | 631 | 233 | 1,200 | 427 | 751 | 983 | 985 | 1,178 | 1,207 | 1,215 | 1,547 | 793 | 497 | 998 | 1,132 | 4,476 | 574 | 4,201 | 609 | 2,721 | 3,369 | 744 | 3,212 | 545 | 1,717 | 1,080 | 630 | 779 | 600 | 600 | 858 | 818 | 347 | 392 | 395 | 506 | 546 | 623 | 681 | 466 | 972 | 775 | 920 | 989 | 2,478 | 173 | 132 | 361 | 219 | 288 | 376 | 268 | 414 | 232 | 441 | 283 | 225 | 600 | 246 | 383 | 913 | 565 | 269 | 739 | 416 | 273 | 468 | 503 | 1,829 | 735 | 298 | 152 | 95 | 926 | 1,297 | 1,220 | 739 | 441 | 374 | 374 | 312 | 441 | 338 | 1,151 | 563 | 616 | 512 | 1,271 | 495 | 178 | 148 | 237 | 456 | 266 | 181 | 251 | 96 | 88 | 98 | 102 | 354 | 106 | 106 | 293 | 109 | 458 | 101 | 352 | 350 | 73 | 70 | 91 | 431 | 374 | 437 | 502 | 306 | 510 | 476 | 623 | 1,961 | 110 | 36 | 57 | 76 | 75 | 112 | 600 | 600 | 1,000 | 600 | 1,000 | 823 | 2,581 | 599 | 493 | 760 | 1,912 | 331 | 122 | 125 | 71 | 96 | 94 | 236 | 315 | 85 | 95 | 50 | 55 | 57 | 78 | 903 | 557 | 324 | 457 | 275 | 214 | 131 | 178 | 39 | 98 | 71 | 67 | 71 | 68 | 211 | 146 | 111 | 175 | 125 | 59 | 299 | 602 | 281 | 255 | 147 | 81 | 143 | 81 | 109 | 107 | 70 | 112 | 134 | 123 | 125 | 132 | 144 | 117 | 140 | 140 | 216 | 130 | 124 | 127 | 161 | 170 | 124 | 135 | 76 | 120 | 46 | 166 | 190 | 80 | 539 | 160 | 137 | 160 | 137 | 344 | 92 | 321 | 206 | 573 | 209 | 1,285 | 675 | 323 | 283 | 183 | 888 | 366 | 1,342 | 795 | 209 | 151 | 345 | 481 | 621 | 503 | 677 | 693 | 1,277 | 1,080 | 723 | 348 | 272 | 413 | 227 | 439 | 594 | 491 | 284 | 461 | 489 | 766 | 362 | 487 | 231 | 564 | 1,505 | 245 | 940 | 201 | 608 | 254 | 271 | 200 | 188 | 154 | 404 | 171 | 163 | 170 | 163 | 307 | 3,717 | 2,057 | 459 | 665 | 247 | 586 | 205 | 131 | 145 | 218 | 71 | 165 | 219 | 121 | 178 | 81 | 21 | 256 | 78 | 385 | 484 | 222 | 326 | 175 | 325 | 1,048 | 60 | 728 | 118 | 196 | 600 | 530 | 201 | 647 | 908 | 830 | 937 | 1,107 | 947 | 1,092 | 857 | 2,521 | 569 | 1,630 | 506 | 299 | 403 | 343 | 301 | 101 | 1,577 | 704 | 261 | 221 | 483 | 437 | 1,188 | 1,358 | 129 | 174 | 2,195 | 621 | 456 | 624 | 749 | 1,466 | 315 | 286 | 277 | 446 | 715 | 229 | 153 | 362 | 415 | 407 | 590 | 760 | 1,000 | 1,000 | 1,500 | 1,000 | 2,517 | 1,195 | 1,392 | 1,296 | 659 | 1,275 | 2,132 | 2,289 | 413 | 418 | 489 | 360 | 848 | 606 | 1,778 | 483 | 572 | 364 | 361 | 347 | 9 | 969 | 474 | 260 | 956 | 960 | 1,507 | 389 | 885 | 1,134 | 944 | 996 | 1,300 | 154 | 147 | 75 | 144 | 191 | 199 | 600 | 950 | 515 | 2,133 | 310 | 1,074 | 1,200 | 390 | 1,206 | 926 | 1,613 | 990 | 898 | 1,293 | 2,563 | 2,709 | 1,675 | 1,904 | 138 | 395 | 119 | 198 | 158 | 198 | 336 | 217 | 217 | 1,652 | 886 | 1,707 | 376 | 864 | 4,458 | 1,990 | 1,218 | 9,139 | 1,746 | 817 | 1,682 | 2,848 | 431 | 319 | 237 | 193 | 405 | 246 | 380 | 303 | 353 | 985 | 800 | 1,590 | 687 | 1,874 | 230 | 204 | 192 | 192 | 243 | 71 | 307 | 307 | 215 | 98 | 213 | 59 | 497 | 261 | 558 | 633 | 180 | 140 | 220 | 200 | 300 | 270 | 210 | 2,622 | 1,895 | 1,657 | 3,702 | 898 | 1,721 | 277 | 255 | 248 | 248 | 427 | 2,124 | 2,890 | 3,008 | 681 | 3,800 | 1,590 | 1,441 | 817 | 562 | 481 | 1,098 | 1,210 | 2,885 | 806 | 1,040 | 2,585 | 3,616 | 2,367 | 19,678 | 9,281 | 13,543 | 1,435 | 1,353 | 1,224 | 2,043 | 1,754 | 4,894 | 2,538 | 6,072 | 6,720 | 7,717 | 6,506 | 5,767 | 2,850 | 8,183 | 6,385 | 32,536 | 258 | 522 | 160 | 610 | 300 | 2,125 | 909 | 768 | 303 | 720 | 2,074 | 4,152 | 294 | 147,085 | 256 | 104 | 208 | 133 | 300 | 700 | 2,320 |
Building and Improvements | 1,652,430 | ' | ' | ' | 1,522 | 2,904 | 4,544 | 3,662 | 1,675 | 739 | 4,130 | 4,460 | 5,918 | 2,984 | 4,420 | 3,134 | 2,504 | 1,907 | 1,742 | 1,592 | 2,381 | 1,879 | 2,099 | 4,192 | 12,464 | ' | 2,252 | 1,979 | 3,627 | 1,250 | 2,310 | 3,888 | 1,791 | 5,344 | 2,118 | 3,550 | 3,695 | 21,730 | 1,912 | 1,920 | 955 | 3,070 | 2,174 | 8,187 | 9,346 | 1,823 | 1,358 | 1,955 | 2,196 | 3,132 | 2,529 | 1,455 | 1,691 | 2,705 | 3,819 | 2,151 | 1,329 | 2,876 | 1,672 | 2,674 | 2,150 | 1,826 | 270 | 994 | 857 | 997 | 859 | 743 | 2,890 | 13,104 | 5,847 | ' | 4,447 | 7,164 | 3,176 | 1,819 | 2,343 | 1,587 | ' | ' | ' | 14,464 | ' | 2,982 | 5,554 | 1,309 | 3,505 | 3,943 | 1,154 | 6,882 | 1,931 | 6,843 | 5,546 | 1,248 | 3,493 | 1,292 | 6,643 | 2,363 | 4,159 | ' | 5,455 | 9,453 | 2,343 | 3,020 | 2,078 | 1,395 | 504 | 1,859 | 4,293 | 16,061 | 741 | 17,604 | 932 | 5,630 | 6,121 | 2,458 | ' | 3,088 | 9,730 | 6,118 | ' | ' | 1,083 | 1,811 | 2,273 | 1,648 | 1,323 | 1,744 | 2,541 | 3,148 | 3,039 | 4,003 | 11,838 | 5,447 | 7,033 | 6,244 | 6,174 | 3,042 | 6,791 | 981 | 750 | 2,047 | 1,239 | 1,630 | 2,129 | 1,518 | 2,346 | 1,313 | 2,689 | 1,625 | 1,272 | 3,409 | 1,537 | 2,145 | 5,174 | 3,199 | 1,525 | 4,241 | 2,355 | 1,547 | 2,799 | 2,942 | 10,219 | 4,166 | 1,688 | 861 | 537 | 5,124 | 7,348 | 6,911 | 0 | ' | ' | ' | ' | ' | 1,918 | 6,523 | 3,188 | 3,593 | 2,025 | 6,508 | 1,268 | 1,006 | 839 | 1,342 | 2,584 | 1,510 | 1,026 | 1,421 | 532 | 489 | 541 | 563 | 1,958 | 587 | 584 | 1,621 | 603 | 2,596 | 574 | 1,993 | 1,981 | 412 | 395 | 514 | 2,440 | 2,117 | 2,478 | 2,843 | 1,870 | 2,891 | 2,699 | 3,528 | 11,112 | 623 | 204 | 324 | 429 | 427 | 635 | 3,006 | 2,846 | 5,012 | 2,534 | 3,364 | 4,042 | 16,556 | 3,327 | 2,758 | 3,856 | 0 | 1,904 | 723 | 425 | 236 | 448 | 394 | 1,406 | 1,301 | 351 | 262 | 196 | 208 | 190 | 319 | 4,215 | 2,731 | 1,487 | 2,104 | 1,262 | 977 | 594 | 819 | 203 | 507 | 355 | 277 | 408 | 301 | 1,024 | 701 | 513 | 1,007 | 531 | 233 | 1,703 | 3,410 | 1,590 | 1,445 | 834 | 456 | 809 | 461 | 617 | 608 | 395 | 634 | 760 | 694 | 706 | 749 | 815 | 664 | 794 | 792 | 1,225 | 738 | 704 | 718 | 912 | 963 | 703 | 748 | 422 | 665 | 254 | 920 | 1,050 | 442 | 2,983 | 887 | 761 | 887 | 761 | 1,902 | 507 | 1,775 | 1,141 | 3,170 | 1,158 | 7,144 | 3,737 | 1,790 | 1,567 | 1,016 | 4,915 | 3,241 | 5,441 | 0 | 1,154 | 834 | 1,910 | 2,665 | ' | 3,367 | 2,018 | 1,507 | 1,332 | 2,300 | 2,063 | 1,973 | 1,541 | 2,343 | 1,287 | 2,489 | 3,368 | 2,782 | 1,611 | 2,610 | 2,769 | 4,342 | 2,050 | 2,761 | 1,308 | 3,197 | 8,333 | 1,357 | 4,675 | 1,328 | 3,679 | 764 | 726 | 481 | 898 | 626 | 1,698 | 826 | 798 | 1,020 | 818 | 1,166 | 19,237 | 13,565 | 2,603 | 3,770 | 1,402 | 3,321 | 1,161 | 743 | 822 | 1,234 | 405 | 934 | 1,238 | 688 | 1,008 | 460 | 117 | 1,449 | 443 | 2,181 | 4,760 | 1,260 | 1,848 | 993 | 1,842 | 6,027 | ' | 2,837 | 0 | ' | 2,194 | 1,235 | 1,358 | 0 | 1,883 | 2,722 | 2,455 | 3,111 | 3,079 | 3,308 | 3,428 | ' | 3,270 | 7,058 | 3,199 | 1,565 | 3,647 | 1,153 | 2,150 | 713 | 1,018 | 1,923 | 672 | 628 | 1,516 | 1,082 | 0 | 8,622 | 382 | 391 | 6,084 | 3,289 | 2,703 | 3,700 | 4,461 | 8,342 | 1,804 | ' | 2,261 | 2,525 | 4,054 | 1,300 | 867 | 2,049 | 2,354 | 2,308 | ' | ' | 2,450 | 2,709 | 8,328 | 1,599 | 6,069 | 4,891 | 8,149 | 7,157 | 3,189 | 0 | 3,105 | 7,952 | 2,383 | 2,368 | 2,785 | 2,040 | 4,383 | 3,192 | ' | 2,735 | 3,240 | 2,064 | 2,048 | 1,968 | ' | 5,491 | 2,686 | 1,471 | 5,415 | 5,440 | 8,542 | 2,206 | 5,015 | 6,426 | 0 | 0 | 4,628 | 851 | 811 | 418 | 796 | 1,059 | 1,100 | 1,349 | 5,916 | 1,245 | 17,562 | 2,268 | 2,642 | 4,800 | 2,160 | 3,218 | 2,195 | 6,451 | 2,661 | 3,066 | 5,950 | 9,388 | 10,970 | 4,514 | 6,805 | 784 | 2,241 | 672 | 1,120 | 896 | 1,120 | 1,905 | 1,232 | 1,232 | 0 | 2,995 | 10,873 | 1,670 | 2,771 | 2,659 | 3,979 | 1,950 | 5,881 | 3,148 | 1,673 | 2,750 | 8,641 | 2,479 | 1,838 | 1,360 | 1,119 | 2,295 | 1,359 | 2,103 | 1,680 | 1,952 | 6,205 | 2,099 | 9,026 | 1,947 | 31,958 | 681 | 1,159 | 1,086 | 1,086 | 1,376 | 402 | 1,742 | 1,742 | 871 | 402 | 1,206 | 335 | 2,751 | ' | ' | 3,587 | 987 | 730 | 1,160 | 1,107 | 1,460 | 1,363 | 833 | 8,643 | 5,408 | 2,768 | 7,338 | 2,078 | 11,433 | 1,609 | ' | ' | ' | ' | 5,219 | 7,020 | 5,826 | 168 | 7,330 | 6,360 | 1,239 | 762 | 456 | 365 | 630 | 874 | 1,931 | 3,225 | 4,160 | 3,210 | 3,902 | 3,243 | 9,321 | 3,920 | ' | 779 | 722 | 716 | 3,408 | 2,949 | 3,481 | 2,538 | 7,891 | ' | 2,518 | 4,885 | 2,538 | 2,850 | 7,501 | ' | ' | 1,436 | 2,916 | 508 | 1,847 | 989 | 6,504 | 4,613 | 3,448 | 742 | 2,800 | 0 | ' | 8,570 | 430 | 1,453 | 591 | 1,181 | 753 | 1,504 | 3,509 | ' |
Costs capitalized subsequent to acquisition or completion and valuation provision | 710,947 | ' | ' | ' | 32 | -705 | -817 | 946 | 801 | 164 | 889 | 1,688 | 1,457 | 1,046 | 809 | 433 | 143 | 334 | 281 | 286 | 248 | 322 | -940 | -699 | 2,386 | 7,485 | 6 | -23 | 451 | 114 | 298 | 288 | 42 | -1,742 | -200 | 96 | -1,428 | 2,870 | 628 | 734 | 500 | 466 | 630 | -850 | -820 | 156 | 107 | 206 | -14 | -59 | 337 | -55 | 53 | -143 | 502 | -241 | 1,155 | 4,274 | 181 | 392 | 330 | 740 | 14,439 | 613 | 1,696 | 935 | 1,263 | 1,131 | 6,863 | 3,948 | 702 | 3,017 | 2,647 | 1,611 | 306 | -283 | 55 | 7 | 14,234 | 58,462 | 23,567 | 1 | 23,731 | 759 | 1,692 | 584 | 1,697 | 1,173 | 1,012 | 2,631 | 44 | 2,685 | 3,998 | 277 | 328 | -37 | 918 | 163 | 1,464 | 6,696 | 2,725 | 1,130 | 103 | 468 | 2,665 | 154 | 37 | 1,028 | 723 | 77 | 1,936 | 1,363 | 100 | -199 | -117 | 366 | 24,960 | 1,706 | 94 | 1,351 | 5,276 | 6,517 | 574 | -137 | 543 | 380 | 115 | 29 | 47 | 143 | 137 | 694 | 988 | 186 | 337 | 10 | 341 | 652 | 2,016 | 203 | 216 | 363 | 279 | 249 | 195 | 500 | 898 | 305 | 16 | 112 | 132 | 123 | 390 | 466 | 1,097 | 341 | 96 | 346 | 399 | 254 | 131 | 386 | 2,564 | 543 | 481 | 285 | 101 | 877 | 1,281 | 937 | 3,500 | 3,382 | 2,902 | 2,825 | 1,462 | 3,432 | 317 | 1,628 | 298 | -184 | 94 | -88 | 80 | 633 | 403 | 638 | 1,032 | -664 | 588 | 195 | 302 | 213 | 174 | 287 | 340 | 244 | 99 | 449 | 95 | 822 | 157 | 507 | 55 | 10 | -115 | 39 | 762 | 100 | 130 | 324 | 236 | 352 | 460 | 1,304 | 1,039 | 255 | 103 | 196 | 249 | 146 | 55 | 58 | 222 | 598 | -93 | 517 | -16 | 15 | 360 | 31 | -16 | 16,444 | 189 | 54 | 1,060 | 610 | 877 | 399 | 967 | 787 | 1,014 | 1,720 | 483 | 472 | 489 | 742 | 829 | 1,000 | 437 | 475 | 342 | 564 | 435 | 305 | 197 | 285 | 237 | 273 | 338 | 290 | 1,219 | 392 | 382 | 608 | 367 | 175 | -182 | 3,300 | 529 | 220 | 407 | 242 | 641 | 457 | 480 | 413 | 393 | 592 | 577 | 582 | 432 | 398 | 296 | 362 | 258 | 514 | 295 | 290 | 157 | 221 | 522 | 376 | 481 | -183 | -91 | -324 | -3 | 231 | -351 | -324 | 299 | -192 | -329 | -409 | -302 | 329 | 200 | -437 | 272 | -2,261 | 200 | 1,352 | 671 | 373 | 370 | 218 | -1,234 | 356 | 1,208 | 7,166 | 213 | 110 | 340 | 367 | 3,662 | -1,376 | 78 | 1,195 | -1,291 | 3,487 | 36 | 1,708 | 497 | 435 | 454 | 626 | 1,290 | 1,573 | 677 | 1,009 | 741 | 2,027 | 1,010 | 687 | 543 | 902 | 3,162 | 827 | 606 | -26 | 259 | 152 | 27 | 115 | -87 | 80 | 282 | 41 | -105 | -265 | 58 | 335 | 0 | 3,267 | 1,007 | 588 | 369 | 794 | 310 | 198 | 301 | 558 | 189 | 371 | -112 | 136 | 187 | 197 | 37 | 213 | 98 | 195 | 1,971 | 603 | 270 | 397 | 458 | 240 | 416 | 235 | 2,079 | 3,163 | 797 | 690 | -195 | 3,455 | 256 | 260 | 456 | 320 | 785 | 238 | 3,986 | 651 | 1,832 | -108 | -189 | 263 | 245 | 99 | -42 | -214 | -278 | 877 | 346 | 120 | 249 | 396 | 16,949 | 13,463 | 733 | -1 | 3,923 | 3,089 | 642 | 560 | 822 | 3,436 | 1,876 | 1,827 | 806 | 767 | 2,400 | 847 | 281 | 827 | 1,042 | 836 | 5,270 | 6,592 | 378 | 871 | 1,387 | -100 | -1,692 | -666 | -501 | -379 | 949 | 6,469 | 90 | 0 | 940 | -680 | 286 | 613 | 558 | 258 | 24,298 | 704 | 1,014 | 379 | 508 | 471 | 2,555 | 906 | 553 | 196 | 796 | 521 | 2,815 | 540 | 569 | 550 | 4,535 | 5,527 | 1,020 | 355 | 147 | 205 | 364 | 285 | 499 | -274 | -62 | -513 | 38 | 174 | -424 | 1,088 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 144 | 275 | 128 | 346 | 248 | 360 | 415 | 248 | 168 | 2,577 | 429 | 451 | 293 | 138 | 722 | 352 | 374 | 1,228 | 562 | 287 | 96 | 244 | 835 | 2,318 | 444 | 294 | 2,465 | 798 | 1,622 | 1,446 | 817 | 556 | 710 | 1,018 | -241 | -470 | -8 | 541 | 263 | 170 | 159 | 147 | 724 | 353 | 300 | 313 | 277 | 52 | 673 | 1,305 | 2,498 | 838 | 114 | 48 | 2 | 10 | 122 | 149 | 1 | -820 | -1,524 | -1,656 | -3,252 | -643 | -2,272 | -58 | 1,884 | 2,119 | 1,863 | 3,782 | 1,587 | 788 | 748 | 19 | 71 | 7,730 | 706 | 263 | 88 | 139 | 261 | 185 | 728 | 439 | 341 | 99 | 61 | 40 | 6,271 | 40 | 20,904 | 42 | -844 | 21 | -233 | -204 | -4,546 | 290 | 762 | 9,197 | -187 | -5,433 | 1,470 | 722 | 761 | 12,335 | 20,668 | 795 | 425 | 381 | 1,239 | 543 | -4,089 | 203 | -216 | -285 | -589 | 9,896 | 13,649 | -727 | 2,897 | 495 | 339 | 18 | 184 | 243 | 5 | 10,885 |
Land | 703,478 | ' | ' | ' | 214 | 284 | 365 | 635 | 228 | 125 | 726 | 828 | 1,157 | 546 | 804 | 574 | 459 | 339 | 309 | 283 | 423 | 334 | 146 | 352 | 1,604 | 1,550 | 798 | 490 | 740 | 513 | 715 | 610 | 402 | 989 | 716 | 885 | 467 | 2,594 | 2,428 | 700 | 500 | 1,100 | 1,200 | 3,208 | 2,206 | 375 | 296 | 372 | 568 | 1,038 | 938 | 919 | 718 | 913 | 1,136 | 1,690 | 847 | 942 | 1,000 | 1,311 | 1,054 | 897 | 2,823 | 200 | 287 | 206 | 164 | 209 | 541 | 1,863 | 1,016 | 532 | 1,328 | 1,341 | 601 | 178 | 387 | 443 | 2,341 | 7,019 | 4,715 | 4,070 | 6,886 | 521 | 968 | 224 | 525 | 696 | 205 | 1,073 | 208 | 1,305 | 1,048 | 231 | 666 | 162 | 1,220 | 433 | 761 | 983 | 1,044 | 1,181 | 1,213 | 1,220 | 1,617 | 801 | 513 | 1,046 | 1,134 | 4,476 | 579 | 4,201 | 667 | 2,737 | 3,482 | 762 | 3,212 | 566 | 952 | 1,109 | 630 | 779 | 606 | 592 | 875 | 840 | 355 | 394 | 397 | 508 | 548 | 627 | 691 | 475 | 991 | 792 | 921 | 1,022 | 2,496 | 175 | 134 | 368 | 220 | 290 | 380 | 271 | 422 | 236 | 441 | 287 | 227 | 601 | 247 | 383 | 918 | 570 | 273 | 739 | 422 | 278 | 468 | 503 | 1,829 | 752 | 305 | 156 | 97 | 934 | 1,304 | 1,230 | 781 | 441 | 374 | 374 | 370 | 442 | 372 | 1,304 | 572 | 620 | 517 | 1,276 | 500 | 172 | 142 | 270 | 469 | 87 | 185 | 258 | 102 | 94 | 104 | 108 | 372 | 112 | 112 | 308 | 115 | 468 | 92 | 316 | 318 | 47 | 23 | 71 | 426 | 255 | 442 | 507 | 306 | 516 | 481 | 629 | 1,981 | 111 | 36 | 58 | 76 | 76 | 113 | 604 | 604 | 1,006 | 604 | 1,011 | 825 | 2,586 | 601 | 481 | 771 | 1,947 | 331 | 122 | 218 | 129 | 192 | 121 | 373 | 372 | 215 | 239 | 103 | 103 | 107 | 164 | 903 | 560 | 327 | 457 | 279 | 219 | 138 | 185 | 56 | 125 | 93 | 89 | 93 | 79 | 295 | 158 | 138 | 254 | 137 | 66 | 148 | 612 | 286 | 267 | 159 | 89 | 154 | 90 | 119 | 117 | 78 | 122 | 145 | 133 | 135 | 143 | 155 | 127 | 151 | 151 | 231 | 141 | 134 | 137 | 173 | 182 | 130 | 77 | 27 | 32 | 30 | 178 | 86 | 6 | 575 | 92 | 46 | 53 | 58 | 367 | 98 | 191 | 220 | 49 | 223 | 1,371 | 721 | 345 | 302 | 196 | 332 | 297 | 1,412 | 849 | 212 | 153 | 351 | 490 | 628 | 195 | 685 | 476 | 303 | 1,090 | 734 | 382 | 278 | 425 | 233 | 449 | 611 | 504 | 290 | 470 | 499 | 792 | 370 | 531 | 251 | 616 | 1,581 | 256 | 940 | 204 | 617 | 259 | 276 | 203 | 188 | 155 | 393 | 171 | 124 | 120 | 163 | 307 | 3,717 | 2,057 | 476 | 685 | 258 | 601 | 212 | 136 | 152 | 225 | 75 | 171 | 115 | 91 | 166 | 85 | 23 | 265 | 82 | 398 | 484 | 230 | 281 | 180 | 332 | 1,048 | 68 | 741 | 128 | 196 | 609 | 544 | 208 | 743 | 912 | 834 | 942 | 1,112 | 951 | 1,097 | 864 | 828 | 450 | 1,646 | 508 | 301 | 405 | 366 | 302 | 58 | 1,528 | 715 | 265 | 225 | 491 | 445 | 1,204 | 1,519 | 182 | 193 | 2,228 | 639 | 456 | 624 | 757 | 1,466 | 315 | 288 | 277 | 578 | 736 | 235 | 157 | 371 | 434 | 441 | 590 | 888 | 1,034 | 1,038 | 1,510 | 1,009 | 1,296 | 1,198 | 1,395 | 1,299 | 665 | 1,343 | 2,175 | 2,289 | 430 | 248 | 493 | 365 | 888 | 616 | 1,778 | 503 | 593 | 375 | 377 | 362 | 691 | 978 | 479 | 262 | 965 | 969 | 1,534 | 396 | 901 | 1,154 | 944 | 996 | 1,309 | 170 | 162 | 91 | 159 | 229 | 220 | 625 | 964 | 423 | 2,769 | 316 | 964 | 1,226 | 396 | 1,252 | 929 | 1,620 | 1,038 | 362 | 1,292 | 2,563 | 2,709 | 1,719 | 1,923 | 143 | 408 | 123 | 204 | 163 | 204 | 347 | 225 | 225 | 669 | 898 | 1,713 | 376 | 869 | 4,594 | 2,042 | 1,258 | 9,340 | 1,822 | 853 | 1,772 | 2,859 | 431 | 319 | 237 | 194 | 419 | 251 | 388 | 310 | 360 | 985 | 804 | 1,591 | 694 | 1,902 | 241 | 257 | 200 | 200 | 255 | 82 | 326 | 326 | 242 | 110 | 221 | 62 | 560 | 265 | 561 | 640 | 186 | 144 | 226 | 205 | 311 | 278 | 216 | 2,635 | 1,365 | 852 | 2,245 | 599 | 988 | 173 | 366 | 355 | 355 | 387 | 2,143 | 2,902 | 3,031 | 684 | 3,825 | 1,590 | 1,446 | 821 | 565 | 483 | 1,102 | 1,214 | 2,895 | 807 | 1,073 | 2,608 | 3,657 | 2,396 | 20,144 | 9,381 | 6,482 | 1,441 | 675 | 1,229 | 2,051 | 1,761 | 1,819 | 2,565 | 6,090 | 6,897 | 7,752 | 3,236 | 5,964 | 2,874 | 8,545 | 6,382 | 32,540 | 258 | 522 | 162 | 619 | 425 | 1,557 | 920 | 779 | 225 | 583 | 2,120 | 4,228 | 296 | 137,641 | 259 | 105 | 211 | 134 | 302 | 704 | 2,401 |
Building and improvements | 2,390,566 | ' | ' | ' | 1,604 | 2,421 | 4,150 | 4,608 | 2,536 | 903 | 5,019 | 6,070 | 7,230 | 4,011 | 5,205 | 3,559 | 2,640 | 2,238 | 2,021 | 1,876 | 2,626 | 2,199 | 1,383 | 3,881 | 14,846 | 7,485 | 2,254 | 1,951 | 4,073 | 1,361 | 2,604 | 4,170 | 1,828 | 4,023 | 1,914 | 3,642 | 2,556 | 24,586 | 2,515 | 2,654 | 1,455 | 3,536 | 2,804 | 7,329 | 8,520 | 1,960 | 1,448 | 2,140 | 2,153 | 3,052 | 2,846 | 1,382 | 1,727 | 2,562 | 4,296 | 1,868 | 2,466 | 7,132 | 1,832 | 3,038 | 2,458 | 2,544 | 14,526 | 1,438 | 2,528 | 1,922 | 2,099 | 1,778 | 9,722 | 16,579 | 6,533 | 3,027 | 6,947 | 8,727 | 3,466 | 1,559 | 2,393 | 1,587 | 13,393 | 58,465 | 23,570 | 14,480 | 23,729 | 3,741 | 7,245 | 1,893 | 5,288 | 5,108 | 2,161 | 9,482 | 2,099 | 9,431 | 9,475 | 1,514 | 3,786 | 1,326 | 7,541 | 2,520 | 5,613 | 6,696 | 8,121 | 10,580 | 2,440 | 3,483 | 4,673 | 1,541 | 525 | 2,839 | 5,014 | 16,138 | 2,672 | 18,967 | 974 | 5,415 | 5,891 | 2,806 | 24,960 | 4,773 | 10,589 | 7,440 | 5,276 | 6,517 | 1,651 | 1,682 | 2,799 | 2,006 | 1,430 | 1,771 | 2,586 | 3,289 | 3,174 | 4,693 | 12,816 | 5,624 | 7,351 | 6,237 | 6,514 | 3,661 | 8,789 | 1,182 | 964 | 2,403 | 1,517 | 1,877 | 2,320 | 2,015 | 3,236 | 1,614 | 2,705 | 1,733 | 1,402 | 3,531 | 1,926 | 2,611 | 6,266 | 3,535 | 1,617 | 4,587 | 2,748 | 1,796 | 2,930 | 3,328 | 12,783 | 4,692 | 2,162 | 1,142 | 636 | 5,993 | 8,622 | 7,838 | 3,458 | 3,382 | 2,902 | 2,825 | 1,404 | 3,431 | 2,201 | 7,998 | 3,477 | 3,405 | 2,114 | 6,415 | 1,343 | 1,645 | 1,248 | 1,947 | 3,603 | 1,025 | 1,610 | 1,609 | 828 | 696 | 709 | 844 | 2,280 | 825 | 677 | 2,055 | 692 | 3,408 | 740 | 2,536 | 2,068 | 448 | 327 | 573 | 3,207 | 2,336 | 2,603 | 3,162 | 2,106 | 3,237 | 3,154 | 4,826 | 12,131 | 877 | 307 | 519 | 678 | 572 | 689 | 3,060 | 3,064 | 5,604 | 2,437 | 3,870 | 4,024 | 16,566 | 3,685 | 2,801 | 3,829 | 16,409 | 2,093 | 777 | 1,392 | 788 | 1,229 | 766 | 2,236 | 2,031 | 1,235 | 1,838 | 626 | 632 | 629 | 975 | 5,044 | 3,728 | 1,921 | 2,579 | 1,600 | 1,536 | 1,022 | 1,117 | 383 | 765 | 570 | 528 | 724 | 580 | 2,159 | 1,081 | 868 | 1,536 | 886 | 401 | 1,672 | 6,700 | 2,114 | 1,653 | 1,229 | 690 | 1,439 | 909 | 1,087 | 1,011 | 780 | 1,216 | 1,326 | 1,266 | 1,128 | 1,136 | 1,100 | 1,016 | 1,041 | 1,295 | 1,505 | 1,017 | 851 | 929 | 1,422 | 1,327 | 1,178 | 623 | 380 | 429 | 267 | 1,139 | 803 | 192 | 3,246 | 763 | 523 | 585 | 538 | 2,208 | 701 | 1,468 | 1,399 | 1,433 | 1,344 | 8,410 | 4,362 | 2,141 | 1,918 | 1,221 | 4,237 | 3,666 | 6,579 | 7,112 | 1,364 | 942 | 2,244 | 3,023 | 3,655 | 2,299 | 2,088 | 2,919 | 1,015 | 5,777 | 2,088 | 3,647 | 2,032 | 2,766 | 1,735 | 3,105 | 4,641 | 4,342 | 2,282 | 3,610 | 3,500 | 6,343 | 3,052 | 3,404 | 1,831 | 4,047 | 11,419 | 2,173 | 5,281 | 1,299 | 3,929 | 911 | 748 | 593 | 811 | 705 | 1,991 | 867 | 732 | 805 | 876 | 1,501 | 19,237 | 16,832 | 3,593 | 4,338 | 1,760 | 4,100 | 1,464 | 936 | 1,116 | 1,785 | 590 | 1,299 | 1,230 | 854 | 1,207 | 653 | 152 | 1,653 | 537 | 2,363 | 6,731 | 1,855 | 2,163 | 1,385 | 2,293 | 6,267 | 408 | 3,059 | 2,069 | 3,163 | 2,982 | 1,911 | 1,156 | 3,359 | 2,135 | 2,978 | 2,906 | 3,426 | 3,860 | 3,541 | 7,407 | 2,344 | 5,221 | 6,934 | 3,008 | 1,826 | 3,890 | 1,229 | 2,107 | 542 | 789 | 2,789 | 1,014 | 744 | 1,757 | 1,470 | 16,933 | 21,924 | 1,062 | 371 | 9,974 | 6,360 | 3,345 | 4,260 | 5,275 | 11,778 | 3,680 | 1,825 | 3,067 | 3,160 | 6,433 | 2,141 | 1,144 | 2,867 | 3,377 | 3,110 | 5,270 | 6,464 | 2,794 | 3,542 | 9,705 | 1,490 | 5,598 | 4,222 | 7,645 | 6,775 | 4,132 | 6,401 | 3,152 | 7,952 | 3,306 | 1,858 | 3,067 | 2,648 | 4,901 | 3,440 | 24,298 | 3,419 | 4,233 | 2,432 | 2,540 | 2,424 | 1,873 | 6,388 | 3,234 | 1,665 | 6,202 | 5,952 | 11,330 | 2,739 | 5,568 | 6,956 | 4,535 | 5,527 | 5,639 | 1,190 | 943 | 607 | 1,145 | 1,306 | 1,578 | 1,050 | 5,840 | 824 | 16,964 | 2,436 | 2,328 | 5,862 | 2,309 | 4,534 | 2,635 | 6,833 | 3,080 | 1,712 | 6,352 | 10,548 | 11,905 | 4,619 | 9,037 | 923 | 2,503 | 796 | 1,460 | 1,139 | 1,474 | 2,309 | 1,472 | 1,392 | 3,560 | 3,412 | 11,318 | 1,963 | 2,904 | 3,245 | 4,279 | 2,284 | 6,908 | 3,634 | 1,924 | 2,756 | 8,874 | 3,314 | 4,156 | 1,804 | 1,412 | 4,746 | 2,152 | 3,717 | 3,119 | 2,762 | 6,761 | 2,805 | 10,043 | 1,699 | 31,460 | 662 | 1,647 | 1,341 | 1,248 | 1,523 | 538 | 2,447 | 2,076 | 1,144 | 703 | 1,475 | 384 | 3,361 | 1,301 | 2,495 | 4,418 | 1,095 | 774 | 1,156 | 1,112 | 1,571 | 1,504 | 828 | 7,810 | 4,414 | 1,917 | 5,543 | 1,734 | 9,894 | 1,655 | 1,773 | 2,012 | 1,756 | 3,822 | 6,787 | 7,796 | 6,551 | 184 | 7,376 | 14,090 | 1,940 | 1,021 | 541 | 502 | 887 | 1,055 | 2,649 | 3,663 | 4,468 | 3,286 | 3,922 | 3,254 | 15,126 | 3,860 | 27,965 | 815 | 556 | 732 | 3,167 | 2,738 | 2,010 | 2,801 | 8,635 | 9,020 | 2,296 | 2,722 | 3,811 | 3,548 | 7,900 | 12,338 | 20,664 | 2,231 | 3,341 | 887 | 3,077 | 1,407 | 2,983 | 4,805 | 3,221 | 535 | 2,348 | 9,850 | 13,573 | 7,841 | 12,771 | 1,945 | 929 | 1,196 | 936 | 1,745 | 3,510 | 10,804 |
Total | 3,094,044 | ' | ' | ' | 1,818 | 2,705 | 4,515 | 5,243 | 2,764 | 1,028 | 5,745 | 6,898 | 8,387 | 4,557 | 6,009 | 4,133 | 3,099 | 2,577 | 2,330 | 2,159 | 3,049 | 2,533 | 1,529 | 4,233 | 16,450 | 9,035 | 3,052 | 2,441 | 4,813 | 1,874 | 3,319 | 4,780 | 2,230 | 5,012 | 2,630 | 4,527 | 3,023 | 27,180 | 4,943 | 3,354 | 1,955 | 4,636 | 4,004 | 10,537 | 10,726 | 2,335 | 1,744 | 2,512 | 2,721 | 4,090 | 3,784 | 2,301 | 2,445 | 3,475 | 5,432 | 3,558 | 3,313 | 8,074 | 2,832 | 4,349 | 3,512 | 3,441 | 17,349 | 1,638 | 2,815 | 2,128 | 2,263 | 1,987 | 10,263 | 18,442 | 7,549 | 3,559 | 8,275 | 10,068 | 4,067 | 1,737 | 2,780 | 2,030 | 15,734 | 65,484 | 28,285 | 18,550 | 30,615 | 4,262 | 8,213 | 2,117 | 5,813 | 5,804 | 2,366 | 10,555 | 2,307 | 10,736 | 10,523 | 1,745 | 4,452 | 1,488 | 8,761 | 2,953 | 6,374 | 7,679 | 9,165 | 11,761 | 3,653 | 4,703 | 6,290 | 2,342 | 1,038 | 3,885 | 6,148 | 20,614 | 3,251 | 23,168 | 1,641 | 8,152 | 9,373 | 3,568 | 28,172 | 5,339 | 11,541 | 8,549 | 5,906 | 7,296 | 2,257 | 2,274 | 3,674 | 2,846 | 1,785 | 2,165 | 2,983 | 3,797 | 3,722 | 5,320 | 13,507 | 6,099 | 8,342 | 7,029 | 7,435 | 4,683 | 11,285 | 1,357 | 1,098 | 2,771 | 1,737 | 2,167 | 2,700 | 2,286 | 3,658 | 1,850 | 3,146 | 2,020 | 1,629 | 4,132 | 2,173 | 2,994 | 7,184 | 4,105 | 1,890 | 5,326 | 3,170 | 2,074 | 3,398 | 3,831 | 14,612 | 5,444 | 2,467 | 1,298 | 733 | 6,927 | 9,926 | 9,068 | 4,239 | 3,823 | 3,276 | 3,199 | 1,774 | 3,873 | 2,573 | 9,302 | 4,049 | 4,025 | 2,631 | 7,691 | 1,843 | 1,817 | 1,390 | 2,217 | 4,072 | 1,112 | 1,795 | 1,867 | 930 | 790 | 813 | 952 | 2,652 | 937 | 789 | 2,363 | 807 | 3,876 | 832 | 2,852 | 2,386 | 495 | 350 | 644 | 3,633 | 2,591 | 3,045 | 3,669 | 2,412 | 3,753 | 3,635 | 5,455 | 14,112 | 988 | 343 | 577 | 754 | 648 | 802 | 3,664 | 3,668 | 6,610 | 3,041 | 4,881 | 4,849 | 19,152 | 4,286 | 3,282 | 4,600 | 18,356 | 2,424 | 899 | 1,610 | 917 | 1,421 | 887 | 2,609 | 2,403 | 1,450 | 2,077 | 729 | 735 | 736 | 1,139 | 5,947 | 4,288 | 2,248 | 3,036 | 1,879 | 1,755 | 1,160 | 1,302 | 439 | 890 | 663 | 617 | 817 | 659 | 2,454 | 1,239 | 1,006 | 1,790 | 1,023 | 467 | 1,820 | 7,312 | 2,400 | 1,920 | 1,388 | 779 | 1,593 | 999 | 1,206 | 1,128 | 858 | 1,338 | 1,471 | 1,399 | 1,263 | 1,279 | 1,255 | 1,143 | 1,192 | 1,446 | 1,736 | 1,158 | 985 | 1,066 | 1,595 | 1,509 | 1,308 | 700 | 407 | 461 | 297 | 1,317 | 889 | 198 | 3,821 | 855 | 569 | 638 | 596 | 2,575 | 799 | 1,659 | 1,619 | 1,482 | 1,567 | 9,781 | 5,083 | 2,486 | 2,220 | 1,417 | 4,569 | 3,963 | 7,991 | 7,961 | 1,576 | 1,095 | 2,595 | 3,513 | 4,283 | 2,494 | 2,773 | 3,395 | 1,318 | 6,867 | 2,822 | 4,029 | 2,310 | 3,191 | 1,968 | 3,554 | 5,252 | 4,846 | 2,572 | 4,080 | 3,999 | 7,135 | 3,422 | 3,935 | 2,082 | 4,663 | 13,000 | 2,429 | 6,221 | 1,503 | 4,546 | 1,170 | 1,024 | 796 | 999 | 860 | 2,384 | 1,038 | 856 | 925 | 1,039 | 1,808 | 22,954 | 18,889 | 4,069 | 5,023 | 2,018 | 4,701 | 1,676 | 1,072 | 1,268 | 2,010 | 665 | 1,470 | 1,345 | 945 | 1,373 | 738 | 175 | 1,918 | 619 | 2,761 | 7,215 | 2,085 | 2,444 | 1,565 | 2,625 | 7,315 | 476 | 3,800 | 2,197 | 3,359 | 3,591 | 2,455 | 1,364 | 4,102 | 3,047 | 3,812 | 3,848 | 4,538 | 4,811 | 4,638 | 8,271 | 3,172 | 5,671 | 8,580 | 3,516 | 2,127 | 4,295 | 1,595 | 2,409 | 600 | 2,317 | 3,504 | 1,279 | 969 | 2,248 | 1,915 | 18,137 | 23,443 | 1,244 | 564 | 12,202 | 6,999 | 3,801 | 4,884 | 6,032 | 13,244 | 3,995 | 2,113 | 3,344 | 3,738 | 7,169 | 2,376 | 1,301 | 3,238 | 3,811 | 3,551 | 5,860 | 7,352 | 3,828 | 4,580 | 11,215 | 2,499 | 6,894 | 5,420 | 9,040 | 8,074 | 4,797 | 7,744 | 5,327 | 10,241 | 3,736 | 2,106 | 3,560 | 3,013 | 5,789 | 4,056 | 26,076 | 3,922 | 4,826 | 2,807 | 2,917 | 2,786 | 2,564 | 7,366 | 3,713 | 1,927 | 7,167 | 6,921 | 12,864 | 3,135 | 6,469 | 8,110 | 5,479 | 6,523 | 6,948 | 1,360 | 1,105 | 698 | 1,304 | 1,535 | 1,798 | 1,675 | 6,804 | 1,247 | 19,733 | 2,752 | 3,292 | 7,088 | 2,705 | 5,786 | 3,564 | 8,453 | 4,118 | 2,074 | 7,644 | 13,111 | 14,614 | 6,338 | 10,960 | 1,066 | 2,911 | 919 | 1,664 | 1,302 | 1,678 | 2,656 | 1,697 | 1,617 | 4,229 | 4,310 | 13,031 | 2,339 | 3,773 | 7,839 | 6,321 | 3,542 | 16,248 | 5,456 | 2,777 | 4,528 | 11,733 | 3,745 | 4,475 | 2,041 | 1,606 | 5,165 | 2,403 | 4,105 | 3,429 | 3,122 | 7,746 | 3,609 | 11,634 | 2,393 | 33,362 | 903 | 1,904 | 1,541 | 1,448 | 1,778 | 620 | 2,773 | 2,402 | 1,386 | 813 | 1,696 | 446 | 3,921 | 1,566 | 3,056 | 5,058 | 1,281 | 918 | 1,382 | 1,317 | 1,882 | 1,782 | 1,044 | 10,445 | 5,779 | 2,769 | 7,788 | 2,333 | 10,882 | 1,828 | 2,139 | 2,367 | 2,111 | 4,209 | 8,930 | 10,698 | 9,582 | 868 | 11,201 | 15,680 | 3,386 | 1,842 | 1,106 | 985 | 1,989 | 2,269 | 5,544 | 4,470 | 5,541 | 5,894 | 7,579 | 5,650 | 35,270 | 13,241 | 34,447 | 2,256 | 1,231 | 1,961 | 5,218 | 4,499 | 3,829 | 5,366 | 14,725 | 15,917 | 10,048 | 5,958 | 9,775 | 6,422 | 16,445 | 18,720 | 53,204 | 2,489 | 3,863 | 1,049 | 3,696 | 1,832 | 4,540 | 5,725 | 4,000 | 760 | 2,931 | 11,970 | 17,801 | 8,137 | 150,412 | 2,204 | 1,034 | 1,407 | 1,070 | 2,047 | 4,214 | 13,205 |
Accumulated depreciation 12/31/2012 | 748,044 | 735,593 | 695,931 | 663,310 | 813 | 1,319 | 2,368 | 2,064 | 1,006 | 422 | 2,238 | 2,733 | 3,214 | 1,546 | 1,929 | 1,224 | 932 | 673 | 631 | 563 | 797 | 681 | 687 | 1,719 | 4,514 | 1,761 | 725 | 1,521 | 2,086 | 390 | 799 | 1,724 | 622 | 3,142 | 533 | 1,002 | 800 | 5,013 | 784 | 961 | 498 | 1,235 | 903 | 1,508 | 1,793 | 518 | 399 | 481 | 522 | 1,043 | 1,070 | 490 | 592 | 1,030 | 1,267 | 642 | 648 | 1,363 | 613 | 1,175 | 840 | 939 | 2,902 | 1,211 | 1,882 | 1,393 | 1,384 | 1,348 | 3,615 | 4,302 | 1,491 | 675 | 2,606 | 3,129 | 1,045 | 660 | 752 | 521 | 2,527 | 8,269 | 3,689 | 1,116 | 99 | 1,600 | 3,151 | 862 | 3,093 | 2,492 | 733 | 4,806 | 1,240 | 3,672 | 3,211 | 583 | 1,230 | 505 | 2,406 | 799 | 1,971 | 1,999 | 2,599 | 3,078 | 963 | 1,230 | 2,224 | 505 | 332 | 1,690 | 2,093 | 380 | 608 | 247 | 511 | 1,182 | 1,291 | 738 | 3,905 | 1,993 | 5,167 | 3,066 | 1,490 | 1,886 | 515 | 511 | 2,195 | 953 | 485 | 469 | 521 | 710 | 722 | 1,244 | 3,523 | 1,812 | 2,131 | 1,652 | 1,913 | 2,139 | 2,805 | 448 | 378 | 909 | 587 | 742 | 919 | 719 | 1,307 | 624 | 1,099 | 762 | 556 | 1,460 | 812 | 989 | 2,593 | 1,370 | 650 | 1,925 | 1,041 | 722 | 1,176 | 1,334 | 4,935 | 1,802 | 802 | 427 | 239 | 2,444 | 2,817 | 2,612 | 1,020 | 1,154 | 924 | 859 | 407 | 1,070 | 597 | 2,205 | 1,052 | 900 | 674 | 1,818 | 514 | 545 | 398 | 756 | 1,363 | 628 | 624 | 633 | 274 | 246 | 245 | 268 | 829 | 265 | 250 | 712 | 249 | 1,043 | 257 | 896 | 608 | 200 | 190 | 206 | 1,055 | 717 | 831 | 1,031 | 675 | 1,015 | 1,011 | 1,538 | 3,464 | 265 | 101 | 150 | 230 | 189 | 192 | 1,094 | 847 | 1,571 | 909 | 1,201 | 1,204 | 6,938 | 1,227 | 970 | 746 | 3,234 | 993 | 387 | 1,244 | 634 | 1,093 | 695 | 1,967 | 1,478 | 1,171 | 1,302 | 564 | 554 | 572 | 781 | 3,918 | 2,360 | 1,350 | 1,994 | 1,220 | 970 | 663 | 754 | 318 | 676 | 497 | 477 | 553 | 491 | 1,635 | 849 | 682 | 1,239 | 693 | 374 | 821 | 2,859 | 963 | 687 | 493 | 270 | 464 | 314 | 414 | 364 | 277 | 371 | 472 | 436 | 425 | 441 | 429 | 362 | 431 | 519 | 629 | 440 | 345 | 386 | 503 | 555 | 504 | 291 | 197 | 281 | 127 | 433 | 424 | 168 | 1,255 | 365 | 303 | 349 | 289 | 835 | 237 | 692 | 498 | 1,176 | 498 | 3,318 | 1,636 | 824 | 713 | 462 | 2,211 | 1,756 | 2,350 | 2,252 | 419 | 289 | 847 | 976 | 827 | 857 | 741 | 1,304 | 239 | 1,759 | 775 | 1,241 | 709 | 1,117 | 617 | 1,183 | 1,741 | 1,560 | 936 | 1,200 | 1,369 | 2,290 | 1,000 | 1,337 | 697 | 1,599 | 3,629 | 788 | 1,658 | 765 | 1,019 | 315 | 289 | 191 | 248 | 215 | 643 | 289 | 249 | 201 | 280 | 278 | 2,570 | 6,969 | 1,476 | 1,914 | 792 | 1,756 | 681 | 386 | 479 | 674 | 261 | 535 | 701 | 351 | 508 | 260 | 67 | 707 | 229 | 1,046 | 2,630 | 812 | 926 | 538 | 921 | 2,531 | 166 | 1,213 | 839 | 1,193 | 935 | 578 | 561 | 512 | 662 | 733 | 755 | 820 | 1,075 | 898 | 1,346 | 247 | 1,613 | 1,481 | 1,312 | 880 | 1,346 | 361 | 916 | 272 | 640 | 1,286 | 395 | 244 | 748 | 456 | 2,473 | 10,288 | 787 | 104 | 6,834 | 5,278 | 1,489 | 1,985 | 2,481 | 5,104 | 1,748 | 796 | 1,268 | 1,409 | 2,524 | 842 | 484 | 1,115 | 1,334 | 1,186 | 1,871 | 2,352 | 848 | 1,072 | 3,234 | 721 | 3,092 | 961 | 1,700 | 2,166 | 701 | 1,081 | 806 | 1,349 | 1,484 | 988 | 1,230 | 884 | 1,681 | 902 | 3,465 | 1,371 | 1,713 | 954 | 979 | 948 | 603 | 2,048 | 1,108 | 536 | 2,100 | 1,961 | 4,276 | 883 | 1,819 | 2,218 | 1,244 | 1,323 | 1,743 | 407 | 355 | 238 | 402 | 503 | 618 | 231 | 1,977 | 222 | 4,264 | 592 | 1,254 | 1,849 | 805 | 1,003 | 1,272 | 1,971 | 883 | 650 | 1,171 | 2,294 | 2,347 | 814 | 1,357 | 334 | 962 | 293 | 541 | 412 | 636 | 891 | 550 | 518 | 1,352 | 1,698 | 2,650 | 421 | 819 | 827 | 914 | 630 | 918 | 1,248 | 653 | 804 | 2,002 | 1,398 | 1,397 | 789 | 542 | 1,656 | 510 | 929 | 993 | 919 | 1,946 | 883 | 3,515 | 1,354 | 6,418 | 210 | 546 | 499 | 501 | 599 | 217 | 931 | 822 | 455 | 321 | 627 | 150 | 1,260 | 495 | 977 | 1,404 | 380 | 269 | 339 | 396 | 705 | 387 | 276 | 2,421 | 1,006 | 637 | 1,867 | 606 | 7,052 | 771 | 637 | 1,029 | 595 | 806 | 2,145 | 2,084 | 1,517 | 95 | 1,629 | 2,965 | 483 | 355 | 238 | 182 | 280 | 385 | 852 | 753 | 1,153 | 833 | 1,215 | 1,062 | 2,954 | 1,389 | 848 | 280 | 219 | 258 | 586 | 512 | 1,165 | 668 | 2,669 | 1,409 | 852 | 803 | 1,388 | 736 | 1,390 | 297 | 128 | 916 | 1,095 | 313 | 935 | 814 | 596 | 1,693 | 1,024 | 186 | 736 | 1,734 | 1,767 | 3,509 | 1,714 | 541 | 223 | 337 | 224 | 527 | 1,091 | 1,767 |
Costs capitalized subsequent to acquisition or completion and valuation provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $155 | $1,362 | $443 | $389 | $467 | ($1,890) | $401 | $1,160 | $935 | $149 | $2,251 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule_III_Real_Estate_and_A1
Schedule III - Real Estate and Accumulated Depreciation (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Real Estate and Accumulated Depreciation [Line Items] | ' | ' | ' |
Land | $703,478 | $691,726 | ' |
Buildings and Improvements | 2,390,566 | 2,403,654 | ' |
Less: Accumulated Depreciation | 748,044 | 732,635 | ' |
Construction in Progress | 25,503 | 26,068 | ' |
Net Investment in Real Estate | 2,371,503 | 2,388,813 | ' |
Real Estate and Other Assets Held for Sale, Net of Accumulated Depreciation and Amortization of $40,387 and $0 | 0 | 6,765 | ' |
Tenant Improvements | 'Shorter of Lease Term or Useful Life | ' | ' |
Balance, Beginning of Year | 3,130,942 | 3,115,050 | 3,140,649 |
Acquisition of Real Estate Assets | 69,481 | 65,770 | 22,953 |
Construction Costs and Improvements | 100,207 | 74,116 | 72,822 |
Disposition of Real Estate Assets | -142,369 | -94,093 | -91,312 |
Impairment of Real Estate | -2,652 | -1,246 | 2,661 |
Write-off of Fully Depreciated Assets | -36,062 | -28,655 | -32,723 |
Balance, End of Year | 3,119,547 | 3,130,942 | 3,115,050 |
Balance, Beginning of Year | 735,593 | 695,931 | 663,310 |
Depreciation for Year | 94,271 | 100,074 | 95,931 |
Disposition of Assets | -45,758 | -31,757 | -30,587 |
Balance, End of Year | $748,044 | $735,593 | $695,931 |
Buildings and Improvements | Minimum | ' | ' | ' |
Real Estate and Accumulated Depreciation [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '7 years | ' | ' |
Buildings and Improvements | Maximum | ' | ' | ' |
Real Estate and Accumulated Depreciation [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '50 years | ' | ' |
Land Improvements | Minimum | ' | ' | ' |
Real Estate and Accumulated Depreciation [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '3 years | ' | ' |
Land Improvements | Maximum | ' | ' | ' |
Real Estate and Accumulated Depreciation [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | '20 years | ' | ' |
Schedule_III_Real_Estate_and_A2
Schedule III: Real Estate and Accumulated Depreciation Real Estate and Accumulated Depreciation - Additional Information (Details) (USD $) | Dec. 31, 2013 |
In Billions, unless otherwise specified | |
Real Estate and Accumulated Depreciation [Abstract] | ' |
Aggregate cost of land and buildings and equipment for federal income tax purpose | $3.10 |
Schedule_IV_Mortgage_Loans_on_1
Schedule IV: Mortgage Loans on Real Estate Mortgage Loan on Real Estate (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Mortgage Loans on Real Estate [Line Items] | ' | ' | ' | |
Face Amount of Mortgages | $55,082 | ' | ' | |
Carrying Amount of Mortgages | 52,605 | [1] | ' | ' |
Movement in Mortgage Loans on Real Estate [Roll Forward] | ' | ' | ' | |
Balance at Beginning of Period | 40,771 | 47,420 | 50,687 | |
New Mortgage Loans | 12,520 | 0 | 7,029 | |
Accretion of Discount | 64 | 64 | 64 | |
Provision for Loan Loss Reserve | -150 | 0 | 0 | |
Collections of Principal | -598 | -6,707 | -10,304 | |
Interest | -2 | -6 | -56 | |
Balance at Close of Period | 52,605 | 40,771 | 47,420 | |
Borrower A [Member] | ' | ' | ' | |
Mortgage Loans on Real Estate [Line Items] | ' | ' | ' | |
Interest Rate | 4.75% | ' | ' | |
Final Maturity Date | 31-Mar-14 | ' | ' | |
Periodic Payment Terms | 'Interest monthly and principal at maturity | ' | ' | |
Face Amount of Mortgages | 9,800 | ' | ' | |
Carrying Amount of Mortgages | 9,800 | [1] | ' | ' |
Borrower B [Member] | ' | ' | ' | |
Mortgage Loans on Real Estate [Line Items] | ' | ' | ' | |
Interest Rate | 4.75% | ' | ' | |
Final Maturity Date | 26-Dec-14 | ' | ' | |
Periodic Payment Terms | 'Interest monthly and principal at maturity | ' | ' | |
Face Amount of Mortgages | 2,720 | ' | ' | |
Carrying Amount of Mortgages | 2,720 | [1] | ' | ' |
Borrower C [Member] | ' | ' | ' | |
Mortgage Loans on Real Estate [Line Items] | ' | ' | ' | |
Interest Rate | 6.75% | ' | ' | |
Final Maturity Date | 30-Jun-15 | ' | ' | |
Periodic Payment Terms | 'Interest and principal monthly | ' | ' | |
Face Amount of Mortgages | 10,325 | ' | ' | |
Carrying Amount of Mortgages | 9,821 | [1] | ' | ' |
Borrower D [Member] | ' | ' | ' | |
Mortgage Loans on Real Estate [Line Items] | ' | ' | ' | |
Interest Rate | 7.50% | ' | ' | |
Final Maturity Date | 22-Dec-16 | ' | ' | |
Periodic Payment Terms | 'Interest and principal monthly | ' | ' | |
Face Amount of Mortgages | 8,030 | ' | ' | |
Carrying Amount of Mortgages | 7,165 | [1] | ' | ' |
Borrower E [Member] | ' | ' | ' | |
Mortgage Loans on Real Estate [Line Items] | ' | ' | ' | |
Interest Rate | 6.35% | ' | ' | |
Final Maturity Date | 30-Jun-17 | ' | ' | |
Periodic Payment Terms | 'Interest and principal monthly | ' | ' | |
Face Amount of Mortgages | 24,207 | ' | ' | |
Carrying Amount of Mortgages | $23,099 | [1] | ' | ' |
[1] | Carrying amount includes all applicable accrued interest and accretion of discount to date, net of amounts reserved for impairment. |