Quarterly report pursuant to Section 13 or 15(d)

Properties, net

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Properties, net
 9 Months Ended
Sep. 30, 2013
Real Estate [Abstract]  
Properties, net
Properties, net
 
Operating properties, net consisted of the following (in thousands): 
 
September 30,
2013
 
December 31,
2012
Land
$
436,565

 
$
427,766

Buildings and improvements
2,889,383

 
2,725,875

Less: accumulated depreciation
(612,369
)
 
(555,975
)
Operating properties, net
$
2,713,579

 
$
2,597,666


 
Projects we had in development or held for future development consisted of the following (in thousands):
 
September 30,
2013
 
December 31,
2012
Land
$
253,810

 
$
236,324

Construction in progress, excluding land
272,357

 
329,054

Projects in development or held for future development
$
526,167

 
$
565,378



During the nine months ended September 30, 2013, we sold 920 Elkridge Landing Road, a 103,000 square foot office property in Linthicum, Maryland (in the Baltimore/Washington Corridor), for $6.9 million.

2013 Construction Activities

During the nine months ended September 30, 2013, we placed into service an aggregate of 392,000 square feet in four newly constructed office properties located in the Baltimore/Washington Corridor, Northern Virginia and Huntsville, Alabama. As of September 30, 2013, we had nine office properties under construction, or for which we were contractually committed to construct, that we estimate will total 1.3 million square feet upon completion, including four in Northern Virginia, three in Huntsville, Alabama and two in the Baltimore/Washington Corridor. We also had redevelopment underway, or otherwise approved, for two office properties that we estimate will total 235,000 square feet upon completion, including one in Greater Philadelphia and one in the Baltimore/Washington Corridor.