v3.25.2
Acquisition of Real Estate
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisition of Real Estate Acquisition of Real Estate
During the six months ended June 30, 2025, the Company acquired the following assets:
Description(1)
LocationMonth AcquiredGLA
Aggregate Purchase Price(2)
Land at Suffolk PlazaEast Setauket, NYJan-25— $3,144 
Leases at Plaza at Buckland HillsManchester, CTJun-25— 4,330 
— $7,474 
(1)No debt was assumed related to the listed acquisition.
(2)Aggregate purchase price includes $0.1 million of transaction costs.

During the six months ended June 30, 2024, the Company acquired the following asset:

Description(1)
LocationMonth AcquiredGLA
Aggregate Purchase Price(2)
West CenterEast Setauket, NYApr-2442,594 $17,470 
42,594 $17,470 
(1)No debt was assumed related to the listed acquisition.
(2)Aggregate purchase price includes $0.2 million of transaction costs.
The aggregate purchase price of the assets acquired during the six months ended June 30, 2025 and 2024, respectively, has been allocated as follows:

Six Months Ended June 30,
Assets20252024
Land$3,144 $4,949 
Buildings4,330 9,315 
Building and tenant improvements— 512 
Above-market leases(1)
— 95 
In-place leases(2)
— 3,978 
Total assets acquired$7,474 $18,849 
Liabilities
Below-market leases(3)
$— $1,379 
Total liabilities— 1,379 
Net assets acquired$7,474 $17,470 

(1)The weighted average amortization period at the time of acquisition for above-market leases related to assets acquired during the six months ended June 30, 2024 was 5.1 years.
(2)The weighted average amortization period at the time of acquisition for in-place leases related to assets acquired during the six months ended June 30, 2024 was 4.2 years.
(3)The weighted average amortization period at the time of acquisition for below-market leases related to assets acquired during the six months ended June 30, 2024 was 12.8 years.