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REAL ESTATE PROPERTY ACQUISITIONS AND ACQUIRED INTANGIBLES (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended
--- | --- | --- | ---
Jun. 30, 2021 USD ($) ft² | Jun. 30, 2020 USD ($) | Jun. 30, 2021 USD ($) ft² | Jun. 30, 2020 USD ($) | Dec. 31, 2020 USD ($) ft²
Property Acquisition [Line Items] |  |  |  |  |  |
Amortization expense for lease intangibles |  | $ 1,307,000 | $ 1,372,000 | $ 2,738,000 | $ 2,706,000 |
Above and below market leases Increase (decrease) rental Income |  | $ 245,000 | $ 372,000 | $ 474,000 | $ 746,000 |
Percentage of acquisition price to be spent on capital items to qualify as value-add property |  |  |  | 20.00% |  | 20.00%
Percentage of occupancy to qualify as value-add property |  |  |  | 75.00% |  | 75.00%
Speed Distribution Center |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Square Footage of Real Estate Property | ft² |  | 519,000 |  | 519,000 |  |
2020 Acquisitions [Member] |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired |  |  |  |  |  | $ 76,518,000
Square Footage of Real Estate Property | ft² |  |  |  |  |  | 509,000
Acquired Assets and Assumed Liabilities [Line Items] |  |  |  |  |  |
Land |  |  |  |  |  | $ 23,565,000
Buildings |  |  |  |  |  | 42,024,000
Tenant Improvements |  |  |  |  |  | 7,971,000
Total Real Estate Properties |  |  |  |  |  | 73,560,000
Total assets acquired, net of liabilities assumed |  |  |  |  |  | $ 76,518,000
Weighted Average Remaining Lease Term of Acquired Properties |  |  |  |  |  | 3 years 10 months 24 days
2020 Acquisitions [Member] | Leases, Acquired-in-Place [Member] |  |  |  |  |  |
Acquired Assets and Assumed Liabilities [Line Items] |  |  |  |  |  |
Intangible acquired associated with purchase of real estate | [1] |  |  |  |  | $ 3,257,000
2020 Acquisitions [Member] | Above Market Leases [Member] |  |  |  |  |  |
Acquired Assets and Assumed Liabilities [Line Items] |  |  |  |  |  |
Intangible acquired associated with purchase of real estate | [1] |  |  |  |  | 104,000
2020 Acquisitions [Member] | Below market lease [Member] |  |  |  |  |  |
Acquired Assets and Assumed Liabilities [Line Items] |  |  |  |  |  |
Intangible acquired associated with purchase of real estate | [2] |  |  |  |  | (403,000)
2021 operating property acquisitions | Southpark Distribution Center II |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [3] | $ 9,177,000 |  | $ 9,177,000 |  |
Square Footage of Real Estate Property | ft² | [3] | 79,000 |  | 79,000 |  |
Date of Acquisition | [3] |  |  | Jun. 10, 2021 |  |
2021 Value-add Property Acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [4] | $ 36,597,000 |  | $ 36,597,000 |  |
Square Footage of Real Estate Property | ft² | [4] | 499,000 |  | 499,000 |  |
2021 Value-add Property Acquisitions | Access Point I |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [4] | $ 10,501,000 |  | $ 10,501,000 |  |
Square Footage of Real Estate Property | ft² | [4] | 156,000 |  | 156,000 |  |
Date of Acquisition | [4] |  |  | Jan. 15, 2021 |  |
2021 Value-add Property Acquisitions | Northpoint 200 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [4] | $ 6,516,000 |  | $ 6,516,000 |  |
Square Footage of Real Estate Property | ft² | [4] | 79,000 |  | 79,000 |  |
Date of Acquisition | [4] |  |  | Jan. 21, 2021 |  |
2021 Value-add Property Acquisitions | Access Point 2 |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [4] | $ 10,743,000 |  | $ 10,743,000 |  |
Square Footage of Real Estate Property | ft² | [4] | 159,000 |  | 159,000 |  |
Date of Acquisition | [4] |  |  | May 19, 2021 |  |
2021 Value-add Property Acquisitions | Cherokee 75 Business Center |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [4] | $ 8,837,000 |  | $ 8,837,000 |  |
Square Footage of Real Estate Property | ft² | [4] | 105,000 |  | 105,000 |  |
Date of Acquisition | [4] |  |  | Jun. 17, 2021 |  |
2021 Acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired |  | $ 45,774,000 |  | $ 45,774,000 |  |
Square Footage of Real Estate Property | ft² |  | 578,000 |  | 578,000 |  |
Acquired Assets and Assumed Liabilities [Line Items] |  |  |  |  |  |
Land |  | $ 6,131,000 |  | $ 6,131,000 |  |
Buildings |  | 38,655,000 |  | 38,655,000 |  |
Tenant Improvements |  | 108,000 |  | 108,000 |  |
Total Real Estate Properties |  | 44,894,000 |  | 44,894,000 |  |
Total assets acquired, net of liabilities assumed |  | $ 45,774,000 |  | $ 45,774,000 |  |
Weighted Average Remaining Lease Term of Acquired Properties |  | 2 years 2 months 12 days |  | 2 years 2 months 12 days |  |
2021 Acquisitions | Leases, Acquired-in-Place [Member] |  |  |  |  |  |
Acquired Assets and Assumed Liabilities [Line Items] |  |  |  |  |  |
Intangible acquired associated with purchase of real estate | [1] | $ 880,000 |  | $ 880,000 |  |
2021 Acquisitions | Above Market Leases [Member] |  |  |  |  |  |
Acquired Assets and Assumed Liabilities [Line Items] |  |  |  |  |  |
Intangible acquired associated with purchase of real estate | [1] | 0 |  | 0 |  |
2021 Acquisitions | Below market lease [Member] |  |  |  |  |  |
Acquired Assets and Assumed Liabilities [Line Items] |  |  |  |  |  |
Intangible acquired associated with purchase of real estate | [2] | $ 0 |  | $ 0 |  |
2020 operating property acquisitions |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [3] |  |  |  |  | $ 48,656,000
Square Footage of Real Estate Property | ft² | [3] |  |  |  |  | 347,000
2020 operating property acquisitions | Wells Point One |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [3] |  |  |  |  | $ 6,231,000
Square Footage of Real Estate Property | ft² | [3] |  |  |  |  | 50,000
Date of Acquisition | [3] |  |  |  |  | Feb. 28, 2020
2020 operating property acquisitions | Cherokee 75 Business Center I |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [3] |  |  |  |  | $ 8,323,000
Square Footage of Real Estate Property | ft² | [3] |  |  |  |  | 85,000
Date of Acquisition | [3] |  |  |  |  | Dec. 15, 2020
2020 operating property acquisitions | The Rock |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [3] |  |  |  |  | $ 34,102,000
Square Footage of Real Estate Property | ft² | [3] |  |  |  |  | 212,000
Date of Acquisition | [3] |  |  |  |  | Dec. 17, 2020
2020 Value-Add Property Acquisitions | Rancho Distribution Center [Member] |  |  |  |  |  |
Property Acquisition [Line Items] |  |  |  |  |  |
Cost of Property Acquired | [4] |  |  |  |  | $ 27,862,000
Square Footage of Real Estate Property | ft² | [4] |  |  |  |  | 162,000
Date of Acquisition | [4] |  |  |  |  | Oct. 15, 2020
[1] | In-place lease intangibles and above market leases are each included in Other assets on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[2] | Below market leases are included in Other liabilities on the Consolidated Balance Sheets. These costs are amortized over the remaining lives of the associated leases in place at the time of acquisition.
[3] | Operating properties are defined as stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets.
[4] | Value-add properties are defined as properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.

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