Quarterly report pursuant to Section 13 or 15(d)

Properties, Net

v3.20.1
Properties, Net
 3 Months Ended
Mar. 31, 2020
Real Estate [Abstract]  
Properties, Net Properties, Net
 
Operating properties, net consisted of the following (in thousands): 
 
March 31,
2020
 
December 31,
2019
Land
$
489,744

 
$
472,976

Buildings and improvements
3,359,908

 
3,306,791

Less: Accumulated depreciation
(1,035,703
)
 
(1,007,120
)
Operating properties, net
$
2,813,949

 
$
2,772,647



2020 Development Activities

During the three months ended March 31, 2020, we placed into service 230,000 square feet in one newly-developed property. As of March 31, 2020, we had 13 properties under development, or which we were contractually committed to develop, that we estimate will total 2.2 million square feet upon completion and one partially-operational property under redevelopment that we estimate will total 106,000 square feet upon completion.