Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
The Company's property and equipment, net, at December 31, 2022 and 2021 was comprised of the following (in thousands):
December 31,
2022 2021
Land $ 4,450  $ 4,450 
Buildings and building improvements 43,542  35,231 
Tenant improvements 17,016  9,745 
Furniture and fixtures 2,009  1,888 
Machinery and equipment 10,087  7,221 
Construction in progress 4,761  10,569 
81,865  69,104 
Less: accumulated depreciation (10,224) (6,954)
Property and equipment, net $ 71,641  $ 62,150 

During the years ended December 31, 2022 and 2021, additions to property and equipment totaled $12.4 million and $18.6 million, respectively. Of the additions to property and equipment, $0.3 million and $0.7 million of such additions in the years ended December 31, 2022 and 2021, respectively, were paid for by the issuance of Company common stock.

Depreciation expense for the years ended December 31, 2022 and 2021 was $3.4 million and $2.1 million, respectively.