Quarterly report pursuant to Section 13 or 15(d)

Properties, Net

v3.19.1
Properties, Net
 3 Months Ended
Mar. 31, 2019
Real Estate [Abstract]  
Properties, Net
Properties, Net
 
Operating properties, net consisted of the following (in thousands): 
 
March 31,
2019
 
December 31,
2018
Land
$
505,062

 
$
503,274

Buildings and improvements
3,288,033

 
3,241,894

Less: Accumulated depreciation
(927,266
)
 
(897,903
)
Operating properties, net
$
2,865,829

 
$
2,847,265



Properties we had in development or held for future development consisted of the following (in thousands):
 
March 31,
2019
 
December 31,
2018
Land
$
227,852

 
$
207,760

Development in progress, excluding land
209,321

 
195,601

Projects in development or held for future development
$
437,173

 
$
403,361



2019 Construction Activities

During the three months ended March 31, 2019, we placed into service 181,000 square feet in three newly-constructed properties (including one partially-operational property). As of March 31, 2019, we had 14 properties under construction (including two partially-operational properties), or which we were contractually committed to construct, that we estimate will total 1.9 million square feet upon completion and one property under redevelopment that we estimate will total 106,000 square feet upon completion.