Adjusted company FFO was $0.22 per diluted common share in the quarter, which included $10.9 million of lease termination income primarily associated with a legacy industrial asset in Durham, New Hampshire.
During the quarter, we purchased three industrial assets for approximately $51 million and completed the fully leased development project in the Columbus market.
Overall, these investments produced average estimated stabilized GAAP and cash cap rates of 6.1% and 5.9% respectively.
Occupancy is healthy and our industrial exposure represented over 91% of gross real estate assets at quarter-end excluding held-for-sale assets.
Our industrial portfolio is benefiting from all these trends with first quarter industrial base and cash base rent renewal increases of 14.6% and 5.4% respectively representing the most visible sign.
Additionally, we have approximately $206 million of assets, either under contract or with an accepted offer, which we expect to close later this quarter.
After a slow start that is typical of the first quarter, current deal flow is robust, with more than $1 billion of investments under review.
We leased 1.5 million square feet during the quarter and at quarter-end our stabilized portfolio was 97.8% leased.
In addition to the three lease renewals in our single-tenant industrial portfolio, we raised occupancy at our multi-tenant industrial facility in Antioch Tennessee to nearly 100% and simultaneously increased base rental rates by approximately 16% for the two new tenants within the facility.
Subsequent to quarter-end, we executed a five-year extension at our 423,000 square foot industrial facility in Lumberton North Carolina and increased base and cash base rent by 23% and 8.6% respectively.
Our balance sheet continues to be in great shape, with net debt to adjusted EBITDA of 4.6 times at quarter-end.
Our cash balance at quarter-end was $170 million, including restricted cash and we had $94.5 million sold forward in our ATM.
Liquidity was enhanced during the quarter by $58 million of sales at GAAP and cash cap rates of 6.3% and 6.5% respectively and will be augmented by retained cash flow throughout the balance of the year.
Subsequent to the quarter, we sold our industrial facility in Laurens South Carolina for $40 million.
Currently we have assets under contract or with an accepted offer for an aggregate gross price of approximately $135 million.
Our remaining non-core sale portfolio consists of 17 properties, which generated first quarter NOI of $8.2 million.
We believe the current value of this portfolio is approximately $290 million.
The two Indianapolis assets we acquired during the quarter are virtually identical buildings, each approximately 150,000 square-foot Class A facilities built in 2019, well-located in Northwest Indianapolis within one mile of I-65.
The properties are 100% leased, each with two tenants, and have a weighted average lease term of just under five years, with rental escalations of 2.5%.
Indianapolis is one of the top five cargo airports in the country, with the second largest FedEx hub in the world and it ranks as one of the top 10 U.S. bulk distribution markets.
Property is a brand-new 222,000 square foot Class A warehouse distribution center and is primarily leased on a long-term basis with 2.5% annual escalations to credit tenant Motion Industries a subsidiary of Genuine Parts Company.
We are currently in negotiations with a potential tenant for a portion of the remaining square footage and have multiple prospects viewing the additional space, as we work toward a stabilized cash yield forecasted to be approximately 5.3%.
Lakeland is a core sub-market on the I-4 corridor between, Tampa and Orlando, two of Florida's largest and fastest-growing MSAs.
Our approximately 320,000 square-foot Rickenbacker project in Columbus, leased to a subsidiary of PepsiCo was completed in the first quarter.
The estimated GAAP and cash stabilized yields are 7.9% and 7.7%, respectively.
In Atlanta, our Class A, 910,000 square-foot development project is expected to be substantially completed this quarter.
We currently estimate our development costs to be approximately $54 million.
And our stabilized cash yield is estimated to be around 5.25%, which assumes 100% occupancy and payment of our tenant of our core Promote.
The property is in a prime-location along the I-85, South sub-market of Atlanta and we've been seeing sales trade, at substantial premiums to building costs.
The Central Florida project is a Class A, 1.1 million square-foot warehouse distribution center, located on a 90-acre site with frontage along I-75 and near our recently purchased Amazon facility.
The estimated development cost is approximately $81 million.
Ocala is very well-situated for statewide Florida distribution requirements, located just north of I-75 Florida turnpike's split offering access to Tampa, Orlando and the East and West Coast of Florida as well as more toward Jacksonville and Georgia.
Our Indianapolis project in Mount Comfort which we began funding subsequent to the quarter, is just 14 miles east of downtown Indianapolis with easy access to I-70.
The 1.1 million square-foot facility has an estimated cost of roughly $60 million.
The shell completions are anticipated late in the first and second quarters in 2022, for the Ocala and Mount Comfort projects respectively, both with stabilized cash yields in the mid-5% range.
We generated adjusted company FFO of approximately $64 million or $0.22 per diluted common share in the quarter and adjusted company FFO would have been approximately $0.19 per diluted common share, excluding lease termination income of $10.9 million.
Revenues during the quarter were $93 million, representing an increase compared to the same time period in 2020, mostly due to new acquisitions and the termination income I just mentioned.
Property operating expenses were roughly $11 million with approximately 88% attributable to tenant reimbursement.
First quarter G&A was $8.4 million.
And we expect our 2021 G&A range, to be $31 million to $33 million.
Overall, same-store NOI increased 0.6% and would have been approximately 1.7% excluding single-tenant vacancy with our same-store lease portfolio at 97.5%.
More specifically, industrial same-store NOI increased 1.5% and would have been 2.8% excluding single-tenant vacancy.
At quarter-end, approximately 88% of our industrial portfolio leases had escalations with an average rate of 2.3%.
On the capital markets front, we took the opportunity in the first quarter to increase our availability under our ATM program to $350 million.
Additionally, we entered into forward sales contracts for an aggregate of 3.6 million common shares, which have not yet settled.
As of March 31, we had 8.6 million common shares unsettled under forward sales contracts which had an aggregate settlement price of $94.5 million.
At quarter-end, we had nothing outstanding on our unsecured revolving credit facility and unencumbered NOI remains high at 91%.
In addition, our consolidated debt outstanding was approximately $1.4 billion with a weighted average interest rate of approximately 3.3% and a weighted average term of 6.7 years.

Summary:
Adjusted company FFO was $0.22 per diluted common share in the quarter, which included $10.9 million of lease termination income primarily associated with a legacy industrial asset in Durham, New Hampshire.
We generated adjusted company FFO of approximately $64 million or $0.22 per diluted common share in the quarter and adjusted company FFO would have been approximately $0.19 per diluted common share, excluding lease termination income of $10.9 million.