Quarterly report pursuant to Section 13 or 15(d)

Properties, Net

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Properties, Net
 9 Months Ended
Sep. 30, 2020
Real Estate [Abstract]  
Properties, Net Properties, Net
 
Operating properties, net consisted of the following (in thousands): 
September 30,
2020		 December 31,
2019
Land $ 525,584  $ 472,976 
Buildings and improvements 3,569,749  3,306,791 
Less: Accumulated depreciation (1,095,441) (1,007,120)
Operating properties, net $ 2,999,892  $ 2,772,647 

2020 Development Activities

During the nine months ended September 30, 2020, we placed into service 1.2 million square feet in six newly-developed properties, 28,000 square feet in expansions of two fully-operational properties and 21,000 square feet in a redeveloped property. As of September 30, 2020, we had 11 properties under development, including one partially-operational property, and an expansion of one fully-operational property that we estimate will total 1.6 million square feet upon completion.