Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT, NET

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PROPERTY AND EQUIPMENT, NET
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET
(8) PROPERTY AND EQUIPMENT, NET

The Company’s property and equipment, net, at March 31, 2023 and December 31, 2022 was comprised of the following (in thousands):
March 31,
2023		 December 31,
2022
Land $ 4,450  $ 4,450 
Buildings and building improvements 43,075  43,542 
Tenant improvements 16,790  17,016 
Furniture and fixtures 1,981  2,009 
Machinery and equipment 10,223  10,087 
Construction in progress 7,343  4,761 
83,862  81,865 
Less: accumulated depreciation (10,148) (10,224)
Property and equipment, net $ 73,714  $ 71,641 

The Company recorded $1.0 million and $0.7 million of depreciation expense related to property and equipment in the three months ended March 31, 2023 and 2022, respectively.

The Company disposed of equipment it had previously purchased in connection with its planned acquisition of The Harvest Foundation LLC ("Harvest") in Nevada as a result of the Company's withdrawal from the agreement to purchase Harvest. The Company recorded a loss on these asset disposals aggregating $0.9 million, which is included as a component of Other (expense) income, net, in the condensed consolidated statement of operation for the three months ended March 31, 2023.