Quarterly report pursuant to Section 13 or 15(d)

Properties, net

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Properties, net
 3 Months Ended
Mar. 31, 2013
Real Estate [Abstract]  
Properties, net
Properties, net
 
Operating properties, net consisted of the following (in thousands):
 
 
March 31,
2013
 
December 31,
2012
Land
$
431,152

 
$
427,766

Buildings and improvements
2,850,482

 
2,725,875

Less: accumulated depreciation
(576,299
)
 
(555,975
)
Operating properties, net
$
2,705,335

 
$
2,597,666


 
Projects we had in development or held for future development consisted of the following (in thousands):
 
March 31,
2013
 
December 31,
2012
Land
$
234,357

 
$
236,324

Construction in progress, excluding land
250,281

 
329,054

Projects in development or held for future development
$
484,638

 
$
565,378



2012 Construction Activities

During three months ended March 31, 2013, we placed into service an aggregate of 236,000 square feet in three newly constructed office properties located in the Baltimore/Washington Corridor, Northern Virginia and Huntsville, Alabama. As of March 31, 2013, we had nine office properties under construction, or for which we were contractually committed to construct, that we estimate will total 1.1 million square feet upon completion, including three in the Baltimore/Washington Corridor, three in Huntsville, Alabama and three in Northern Virginia. We also had redevelopment underway on one office property in Greater Philadelphia that we estimate will total 183,000 square feet upon completion