Quarterly report pursuant to Section 13 or 15(d)

Properties, Net

v3.20.2
Properties, Net
 6 Months Ended
Jun. 30, 2020
Real Estate [Abstract]  
Properties, Net Properties, Net
 
Operating properties, net consisted of the following (in thousands): 
 
June 30,
2020
 
December 31,
2019
Land
$
502,609

 
$
472,976

Buildings and improvements
3,451,302

 
3,306,791

Less: Accumulated depreciation
(1,065,094
)
 
(1,007,120
)
Operating properties, net
$
2,888,817

 
$
2,772,647



2020 Development Activities

During the six months ended June 30, 2020, we placed into service 621,000 square feet in four newly-developed properties and 21,000 square feet in a redeveloped property. As of June 30, 2020, we had 11 properties under development, including one partially-operational property, and expansions of three fully-operational properties that we estimate will total 1.9 million square feet upon completion.