Acquisition of Real Estate
 3 Months Ended
Mar. 31, 2018
Real Estate [Abstract]  
Acquisition of Real Estate
Acquisition of Real Estate
During the three months ended March 31, 2018, the Company did not acquire any real estate assets.

During the three months ended March 31, 2017, the Company acquired the following assets, in separate transactions:
Description(1)
 
Location
 
Month Acquired
 
GLA
 
Aggregate Purchase Price
Outparcel building adjacent to Annex of Arlington
 
Arlington Heights, IL
 
Feb-17
 
5,760

 
$
1,006

Outparcel adjacent to Northeast Plaza
 
Atlanta, GA
 
Feb-17
 
N/A

 
1,537

Arborland Center
 
Ann Arbor, MI
 
Mar-17
 
403,536

 
102,268

 
 
 
 
 
 
409,296

 
$
104,811

(1) 
No debt was assumed related to any of the listed acquisitions.







The aggregate purchase price of the properties acquired during the three months ended March 31, 2017 has been allocated as follows:
 
 
 
Three Months Ended March 31, 2017
Assets
 
Land
$
16,130

 
Buildings
72,543

 
Building and tenant improvements
8,352

 
Above-market leases(1)
2,381

 
In-place leases(1)
8,259

Total assets
107,665

 
 
 
 
Liabilities
 
 
Below-market leases(1)
2,854

 
Other liabilities
—

Total liabilities
2,854

Net assets acquired
$
104,811



(1) 
The weighted average amortization period at the time of acquisition for above-market leases, in-place leases and below-market leases related to properties acquired during the three months ended March 31, 2017 was 5.0 years, 6.6 years and 16.9 years, respectively.

During the three months ended March 31, 2018, the Company incurred transaction costs of less than $0.1 million, which were included in Other on the Company’s unaudited Condensed Consolidated Statements of Operations. During the three months ended March 31, 2017, the Company incurred transaction costs of $0.3 million, which were capitalized and included in Buildings and tenant improvements on the Company’s unaudited Condensed Consolidated Balance Sheets.