Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

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PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET
 9 Months Ended
Sep. 30, 2019
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET  
NOTE 7. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Property, equipment, and leasehold improvements, net consists of the following:

 

 

 (in thousands)

 

September 30,

 

December 31,

 

2019

 

2018

 

Land and building

 

$

13,945

 

$

13,945

 

Furniture and equipment

 

5,120

 

3,207

 

Computer hardware

 

418

 

237

 

Leasehold improvements

 

20,207

 

5,911

 

Construction in progress

 

10,827

 

12,178

 

Subtotal

 

50,517

 

35,478

 

Less accumulated depreciation

 

(7,015

)

 

(4,283

)

Property, equipment and leasehold improvements, net

 

$

43,502

 

$

31,195

 

Depreciation expense related to property, equipment and leasehold improvements for the nine months ended September 30, 2019 and 2018 was $2.86 million and $1.18 million, respectively.