Annual report pursuant to Section 13 and 15(d)

Schedule III - Real Estate and Accumulated Depreciation

v3.19.3.a.u2
Schedule III - Real Estate and Accumulated Depreciation
12 Months Ended
Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION
GLADSTONE COMMERCIAL CORPORATION
SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019 (Dollars in Thousands)
 
 
 
Initial Cost
 
Total Cost
 
 
 
 
Location of Property
Encumbrances
Land
Buildings &
Improvements
Improvement
Costs Capitalized
Subsequent to
Acquisition
Land
Buildings &
Improvements
Total 
(1)
Accumulated
Depreciation (2)
Net Real
Estate (4)
Year
Construction/
Improvements
Date
Acquired
Raleigh, North Carolina (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building
$

$
960

$
4,481

$
35

$
960

$
4,516

$
5,476

$
2,304

$
3,172

1997
12/23/2003
Canton, Ohio
 
 
 
 
 
 
 
 
 
 
 
Office Building
1,469

186

3,083

500

187

3,582

3,769

1,553

2,216

1994
1/30/2004
Akron, Ohio (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

1,973

6,771

2,793

1,974

9,563

11,537

3,287

8,250

1968/1999
4/29/2004
Charlotte, North Carolina
 
 
 
 
 
 
 
 
 
 
 
Office Building

740

8,423

(1,752
)
510

6,901

7,411

3,417

3,994

1984/1995
6/30/2004
Canton, North Carolina
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,225

150

5,050

7,285

150

12,335

12,485

2,982

9,503

1998/2014
7/6/2004
Crenshaw, Pennsylvania (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

100

6,574

269

100

6,843

6,943

2,727

4,216

1991
8/5/2004
Lexington, North Carolina (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

820

2,107

69

820

2,176

2,996

899

2,097

1986
8/5/2004
Austin, Texas (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

1,000

6,296

954

1,000

7,250

8,250

2,661

5,589

2001
9/16/2004
Mt. Pocono, Pennsylvania (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

350

5,819

18

350

5,837

6,187

2,311

3,876

1995/1999
10/15/2004
San Antonio, Texas (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

843

7,514

2,240

843

9,754

10,597

3,614

6,983

1999
2/10/2005
Big Flats, New York
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
2,119

275

6,459

34

275

6,493

6,768

2,456

4,312

2001
4/15/2005
Wichita, Kansas (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

1,525

9,703

327

1,525

10,030

11,555

3,826

7,729

2000
5/18/2005
Eatontown, New Jersey
 
 
 
 
 
 
 
 
 
 
 
Office Building
2,662

1,351

3,520

534

1,351

4,054

5,405

1,585

3,820

1991
7/7/2005
Duncan, South Carolina
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
8,637

783

10,790

1,889

783

12,679

13,462

4,588

8,874

1984/2001/2007
7/14/2005
Duncan, South Carolina
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
2,147

195

2,682

470

195

3,152

3,347

1,140

2,207

1984/2001/2007
7/14/2005
Clintonville, Wisconsin (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

55

4,717

3,250

55

7,967

8,022

2,440

5,582

1992/2013
10/31/2005
Maple Heights, Ohio
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
4,000

1,609

10,065

3,079

1,609

13,144

14,753

5,235

9,518

1974
12/21/2005
Richmond, Virginia (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

736

5,336

457

736

5,793

6,529

2,022

4,507

1972
12/30/2005
Champaign, Illinois (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

687

2,036

(41
)
687

1,995

2,682

709

1,973

1996
2/21/2006
Champaign, Illinois (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

1,347

3,992

565

1,347

4,557

5,904

1,509

4,395

1996
2/21/2006
Champaign, Illinois (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

842

2,495

353

842

2,848

3,690

943

2,747

1996
2/21/2006
Champaign, Illinois (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

770

2,281

323

770

2,604

3,374

863

2,511

1996
2/21/2006
Burnsville, Minnesota
 
 
 
 
 
 
 
 
 
 
 
Office Building
8,052

3,511

8,746

7,071

3,511

15,817

19,328

5,847

13,481

1984
5/10/2006
Menomonee Falls, Wisconsin (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

625

6,911

686

625

7,597

8,222

2,665

5,557

1986/2000
6/30/2006
Baytown, Texas (3)
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building

221

2,443

2,478

221

4,921

5,142

1,610

3,532

1997
7/11/2006
Mason, Ohio
 
 
 
 
 
 
 
 
 
 
 
Office Building
3,689

797

6,258

547

797

6,805

7,602

2,586

5,016

2002
1/5/2007
Raleigh, North Carolina (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial Cost
 
Total Cost
 
 
 
 
Location of Property
Encumbrances
Land
Buildings &
Improvements
Improvement
Costs Capitalized
Subsequent to
Acquisition
Land
Buildings &
Improvements
Total 
(1)
Accumulated
Depreciation (2)
Net Real
Estate (4)
Year
Construction/
Improvements
Date
Acquired
Industrial Building

1,606

5,513

3,749

1,606

9,262

10,868

3,103

7,765

1994
2/16/2007
Tulsa, Oklahoma
 
 
 
 
 
 
 
 
 
 
 
Industrial Building


14,057

534


14,591

14,591

5,428

9,163

2004
3/1/2007
Hialeah, Florida (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

3,562

6,672

769

3,562

7,441

11,003

2,485

8,518

1956/1992
3/9/2007
Mason, Ohio (3)
 
 
 
 
 
 
 
 
 
 
 
Retail Building

1,201

4,961


1,201

4,961

6,162

1,619

4,543

2007
7/1/2007
Cicero, New York
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,263

299

5,019


299

5,019

5,318

1,586

3,732

2005
9/6/2007
Grand Rapids, Michigan
 
 
 
 
 
 
 
 
 
 
 
Office Building
5,063

1,629

10,500

308

1,629

10,808

12,437

3,517

8,920

2001
9/28/2007
Bolingbrook, Illinois (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

1,272

5,003

856

1,272

5,859

7,131

2,049

5,082

2002
9/28/2007
Decatur, Georgia (3)
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building

783

3,241


783

3,241

4,024

1,053

2,971

1989
12/13/2007
Decatur, Georgia (3)
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building

205

847


205

847

1,052

275

777

1989
12/13/2007
Decatur, Georgia (3)
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building

257

1,062


257

1,062

1,319

345

974

1989
12/13/2007
Lawrenceville, Georgia (3)
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building

678

2,807


678

2,807

3,485

912

2,573

2005
12/13/2007
Snellville, Georgia (3)
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building

176

727


176

727

903

236

667

1986
12/13/2007
Covington, Georgia (3)
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building

232

959


232

959

1,191

312

879

2000
12/13/2007
Conyers, Georgia (3)
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building

296

1,228


296

1,228

1,524

399

1,125

1994
12/13/2007
Cumming, Georgia
 
 
 
 
 
 
 
 
 
 
 
Medical Office Building
2,730

738

3,055

2,524

741

5,576

6,317

1,474

4,843

2004
12/13/2007
Reading, Pennsylvania
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,458

491

6,202


491

6,202

6,693

1,902

4,791

2007
1/29/2008
Fridley, Minnesota
 
 
 
 
 
 
 
 
 
 
 
Office Building
4,523

1,354

8,074

501

1,383

8,546

9,929

3,082

6,847

1985/2006
2/26/2008
Pineville, North Carolina
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
2,010

669

3,028

293

669

3,321

3,990

988

3,002

1985
4/30/2008
Marietta, Ohio
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
4,906

829

6,607

529

829

7,136

7,965

2,059

5,906

1992/2007
8/29/2008
Chalfont, Pennsylvania
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
4,420

1,249

6,420

362

1,249

6,782

8,031

2,186

5,845

1987
8/29/2008
Orange City, Iowa
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
6,068

258

5,861

6

258

5,867

6,125

1,660

4,465

1990
12/15/2010
Hickory, North Carolina
 
 
 
 
 
 
 
 
 
 
 
Office Building
5,915

1,163

6,605

357

1,163

6,962

8,125

2,628

5,497

2008
4/4/2011
Springfield, Missouri (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

1,700

12,038

532

1,845

12,425

14,270

3,137

11,133

2006
6/20/2011
Boston Heights, Ohio
 
 
 
 
 
 
 
 
 
 
 
Office Building
2,337

449

3,010

11

449

3,021

3,470

1,100

2,370

2011
10/20/2011
Parsippany, New Jersey
 
 
 
 
 
 
 
 
 
 
 
Office Building
5,967

1,696

7,077

252

1,696

7,329

9,025

2,217

6,808

1984
10/28/2011
Dartmouth, Massachusetts
 
 
 
 
 
 
 
 
 
 
 
Retail Location
3,450


4,236



4,236

4,236

960

3,276

2011
11/18/2011
Springfield, Missouri
 
 
 
 
 
 
 
 
 
 
 
Retail Location
1,343


2,275



2,275

2,275

662

1,613

2005
12/13/2011
Pittsburgh, Pennsylvania
 
 
 
 
 
 
 
 
 
 
 
Office Building
2,410

281

3,205

743

281

3,948

4,229

1,100

3,129

1968
12/28/2011
Ashburn, Virginia
 
 
 
 
 
 
 
 
 
 
 
Office Building
6,272

706

7,858


705

7,859

8,564

2,059

6,505

2002
1/25/2012
Ottumwa, Iowa
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,042

212

5,072

310

212

5,382

5,594

1,360

4,234

1970
5/30/2012
New Albany, Ohio
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial Cost
 
Total Cost
 
 
 
 
Location of Property
Encumbrances
Land
Buildings &
Improvements
Improvement
Costs Capitalized
Subsequent to
Acquisition
Land
Buildings &
Improvements
Total 
(1)
Accumulated
Depreciation (2)
Net Real
Estate (4)
Year
Construction/
Improvements
Date
Acquired
Office Building
7,319

1,658

8,746


1,658

8,746

10,404

2,439

7,965

2007
6/5/2012
Columbus, Georgia
 
 
 
 
 
 
 
 
 
 
 
Office Building
3,927

1,378

4,520


1,378

4,520

5,898

1,405

4,493

2012
6/21/2012
Columbus, Ohio
 
 
 
 
 
 
 
 
 
 
 
Office Building
2,458

542

2,453

134

542

2,587

3,129

878

2,251

1981
6/28/2012
Jupiter, Florida (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

1,160

11,994

34

1,160

12,028

13,188

2,660

10,528

2011
9/26/2012
Fort Worth, Texas
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
11,076

963

15,647


963

15,647

16,610

3,405

13,205

2005
11/8/2012
Columbia, South Carolina
 
 
 
 
 
 
 
 
 
 
 
Office Building
15,474

1,905

20,648

438

1,905

21,086

22,991

6,305

16,686

2010
11/21/2012
Egg Harbor, New Jersey
 
 
 
 
 
 
 
 
 
 
 
Office Building
3,060

1,627

3,017

315

1,627

3,332

4,959

836

4,123

1985
3/28/2013
Vance, Alabama (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

457

10,529

6,692

457

17,221

17,678

2,900

14,778

2013
5/9/2013
Blaine, Minnesota
 
 
 
 
 
 
 
 
 
 
 
Office Building
7,351

1,060

10,518


1,060

10,518

11,578

3,031

8,547

2009
5/10/2013
Austin, Texas
 
 
 
 
 
 
 
 
 
 
 
Office Building
31,526

2,330

44,021

122

2,330

44,143

46,473

14,892

31,581

1999
7/9/2013
Allen, Texas
 
 
 
 
 
 
 
 
 
 
 
Office Building
7,862

2,699

7,945

1,335

2,699

9,280

11,979

2,829

9,150

1998
7/10/2013
Englewood, Colorado
 
 
 
 
 
 
 
 
 
 
 
Office Building
10,022

1,503

11,739


1,503

11,739

13,242

3,134

10,108

2008
12/11/2013
Novi, Michigan
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,815

352

5,626


352

5,626

5,978

1,170

4,808

1988
12/27/2013
Allen, Texas
 
 
 
 
 
 
 
 
 
 
 
Retail Building
2,806

874

3,634


874

3,634

4,508

723

3,785

2004
3/27/2014
Colleyville, Texas
 
 
 
 
 
 
 
 
 
 
 
Retail Building
2,591

1,277

2,424


1,277

2,424

3,701

525

3,176

2000
3/27/2014
Rancho Cordova, California
 
 
 
 
 
 
 
 
 
 
 
Office Building
4,575

752

6,176

301

752

6,477

7,229

1,270

5,959

1986
4/22/2014
Coppell, Texas
 
 
 
 
 
 
 
 
 
 
 
Retail Building
2,985

1,448

3,349


1,448

3,349

4,797

650

4,147

2005
5/8/2014
Columbus, Ohio (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

990

8,017

1,835

990

9,852

10,842

2,582

8,260

1986
5/13/2014
Taylor, Pennsylvania
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
21,600

3,101

25,405


3,101

25,405

28,506

4,477

24,029

2000/2006
6/9/2014
Aurora, Colorado (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

2,882

3,917

96

2,882

4,013

6,895

898

5,997

1983
7/1/2014
Indianapolis, Indiana
 
 
 
 
 
 
 
 
 
 
 
Office Building
5,591

502

6,422

1,727

498

8,153

8,651

1,746

6,905

1981/2014
9/3/2014
Denver, Colorado (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

1,621

7,071

243

1,621

7,314

8,935

1,423

7,512

1985
10/31/2014
Monroe, Michigan
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
9,856

658

14,607


657

14,608

15,265

2,301

12,964

2004
12/23/2014
Monroe, Michigan
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
6,899

460

10,225


460

10,225

10,685

1,610

9,075

2004
12/23/2014
Richardson, Texas
 
 
 
 
 
 
 
 
 
 
 
Office Building
13,296

2,728

15,372

643

2,728

16,015

18,743

3,349

15,394

1985/2008
3/6/2015
Birmingham, Alabama (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

650

2,034

60

650

2,094

2,744

477

2,267

1982/2010
3/20/2015
Dublin, Ohio
 
 
 
 
 
 
 
 
 
 
 
Office Building
3,951

1,338

5,058

886

1,338

5,944

7,282

1,118

6,164

1980/Various
5/28/2015
Draper, Utah
 
 
 
 
 
 
 
 
 
 
 
Office Building
12,184

3,248

13,129

74

3,248

13,203

16,451

2,459

13,992

2008
5/29/2015
Hapeville, Georgia
 
 
 
 
 
 
 
 
 
 
 
Office Building
6,986

2,272

8,778

263

2,272

9,041

11,313

1,479

9,834

1999/2007
7/15/2015
Villa Rica, Georgia
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,546

293

5,277

18

293

5,295

5,588

832

4,756

2000/2014
10/20/2015
Taylorsville, Utah
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial Cost
 
Total Cost
 
 
 
 
Location of Property
Encumbrances
Land
Buildings &
Improvements
Improvement
Costs Capitalized
Subsequent to
Acquisition
Land
Buildings &
Improvements
Total 
(1)
Accumulated
Depreciation (2)
Net Real
Estate (4)
Year
Construction/
Improvements
Date
Acquired
Office Building
9,112

3,008

10,659

435

3,008

11,094

14,102

2,108

11,994

1997
5/26/2016
Fort Lauderdale, Florida
 
 
 
 
 
 
 
 
 
 
 
Office Building
13,026

4,117

15,516

2,932

4,117

18,448

22,565

2,735

19,830

1984
9/12/2016
King of Prussia, Pennsylvania
 
 
 
 
 
 
 
 
 
 
 
Office Building
14,612

3,681

15,739


3,681

15,739

19,420

2,182

17,238

2001
12/14/2016
Conshohocken, Pennsylvania
 
 
 
 
 
 
 
 
 
 
 
Office Building
10,437

1,996

10,880


1,996

10,880

12,876

1,097

11,779

1996
6/22/2017
Philadelphia, Pennsylvania
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
14,924

5,896

16,282

10

5,906

16,282

22,188

1,903

20,285

1994/2011
7/7/2017
Maitland, Florida
 
 
 
 
 
 
 
 
 
 
 
Office Building
15,789

3,073

19,661

431

3,091

20,074

23,165

2,615

20,550

1998
7/31/2017
Maitland, Florida
 
 
 
 
 
 
 
 
 
 
 
Office Building
7,916

2,095

9,339


2,095

9,339

11,434

940

10,494

1999
7/31/2017
Columbus, Ohio
 
 
 
 
 
 
 
 
 
 
 
Office Building
9,114

1,926

11,410

(1
)
1,925

11,410

13,335

1,235

12,100

2007
12/1/2017
Salt Lake City, Utah (3)
 
 
 
 
 
 
 
 
 
 
 
Office Building

4,446

9,938

771

4,446

10,709

15,155

1,021

14,134

2007
12/1/2017
Vance, Alabama (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

459

12,224

36

469

12,250

12,719

811

11,908

2018
3/9/2018
Columbus, Ohio
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
4,634

681

6,401


681

6,401

7,082

424

6,658

1990
9/20/2018
Detroit, Michigan
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
6,660

1,458

10,092

10

1,468

10,092

11,560

428

11,132

1997
10/30/2018
Detroit, Michigan (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

662

6,681

10

672

6,681

7,353

288

7,065

2002/2016
10/30/2018
Lake Mary, Florida
 
 
 
 
 
 
 
 
 
 
 
Office Building
10,502

3,018

11,756

2

3,020

11,756

14,776

514

14,262

1997/2018
12/27/2018
Moorestown, New Jersey (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

471

1,825


471

1,825

2,296

101

2,195

1991
2/8/2019
Indianapolis, Indiana (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

255

2,809


255

2,809

3,064

92

2,972

1989/2019
2/28/2019
Ocala, Florida (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

1,286

8,535


1,286

8,535

9,821

214

9,607

2001
4/5/2019
Ocala, Florida (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

725

4,814


725

4,814

5,539

121

5,418

1965/2007
4/5/2019
Delaware, Ohio (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

316

2,355


316

2,355

2,671

66

2,605

2005
4/30/2019
Tifton, Georgia
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
8,753


15,190



15,190

15,190

274

14,916

1995/2003
6/18/2019
Denton, Texas (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

1,497

4,151


1,496

4,152

5,648

78

5,570

2012
7/30/2019
Temple, Texas (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

200

4,335

65

200

4,400

4,600

47

4,553

1973/2006
9/26/2019
Temple, Texas (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

296

6,425

98

296

6,523

6,819

70

6,749

1978/2006
9/26/2019
Indianapolis, Indiana (3)
 
 
 
 
 
 
 
 
 
 
 
Industrial Building

1,158

5,162


1,158

5,162

6,320

41

6,279

1967/1998
11/14/2019
Jackson, Tennessee
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
4,770

311

7,199


311

7,199

7,510

10

7,500

2019
12/16/2019
Carrollton, Georgia
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
4,240

291

6,720


292

6,719

7,011

9

7,002

2015/2019
12/17/2019
New Orleans, Louisiana
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,800

2,168

4,667


2,168

4,667

6,835

10

6,825

1975
12/17/2019
San Antonio, Texas
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,900

775

6,877


775

6,877

7,652

10

7,642

1985
12/17/2019
Port Allen, Louisiana
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
2,890

292

3,411


293

3,410

3,703

6

3,697

1983/2005
12/17/2019
Albuquerque, New Mexico
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
1,870

673

2,291


674

2,290

2,964

4

2,960

1998/2017
12/17/2019
Tucson, Arizona
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial Cost
 
Total Cost
 
 
 
 
Location of Property
Encumbrances
Land
Buildings &
Improvements
Improvement
Costs Capitalized
Subsequent to
Acquisition
Land
Buildings &
Improvements
Total 
(1)
Accumulated
Depreciation (2)
Net Real
Estate (4)
Year
Construction/
Improvements
Date
Acquired
Industrial Building
3,500

819

4,636


819

4,636

5,455

7

5,448

1987/1995/2005
12/17/2019
Albuquerque, New Mexico
 
 
 
 
 
 
 
 
 
 
 
Industrial Building
3,540

818

5,219


819

5,218

6,037

8

6,029

2000/2018
12/17/2019
 
$
457,922

$
138,037

$
859,268

$
67,084

$
138,042

$
926,347

$
1,064,389

$
210,944

$
853,445

 
 
(1)
The aggregate cost for land and building improvements for federal income tax purposes is the same as the total gross cost of land, building improvements and acquisition costs capitalized for asset acquisitions under ASC 360, which is $1,064.4 million.
(2)
Depreciable life of all buildings is the shorter of the useful life of the asset or 39 years. Depreciable life of all improvements is the shorter of the useful life of the assets or the life of the respective leases on each building, which range from 5-20 years.
(3)
These properties are in our unencumbered pool of assets on our Credit Facility.
(4)
The net real estate figure includes real estate held for sale as of December 31, 2019 of $4.0 million.

The following table reconciles the change in the balance of real estate during the years ended December 31, 2019, 2018 and 2017, respectively (in thousands):
 
 
 
2019
 
2018
 
2017
 
Balance at beginning of period
 
$
949,822

 
$
906,850

 
$
833,203

 
Additions:
 
 
 
 
 
 
 
Acquisitions during period
 
108,972

 
53,432

 
100,103

 
Improvements
 
10,580

 
4,824

 
10,473

 
Deductions:
 
 
 
 
 
 
 
Dispositions during period
 
(3,172
)
 
(15,284
)
 
(30,094
)
 
Impairments during period
 
(1,813
)
 

 
(6,835
)

Balance at end of period
 
$
1,064,389

(1)
$
949,822

(2)
$
906,850

(3)
 
(1)
The real estate figure includes $7.4 million of real estate held for sale as of December 31, 2019.
(2)
The real estate figure includes $3.2 million of real estate held for sale as of December 31, 2018.
(3)
The real estate figure includes $13.0 million of real estate held for sale as of December 31, 2017.

The following table reconciles the change in the balance of accumulated depreciation during the years ended December 31, 2019, 2018 and 2017, respectively (in thousands):
 
 
 
2019
 
2018
 
2017
 
Balance at beginning of period
 
$
178,475

 
$
153,387

 
$
134,329

 
Additions during period
 
32,838

 
29,915

 
26,927

 
Dispositions during period
 
(369
)
 
(4,827
)
 
(7,869
)
 
Balance at end of period
 
$
210,944

(1)
$
178,475

(2)
$
153,387