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Real Estate - Portfolio | 6 Months Ended
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Jun. 30, 2013
Real Estate Investments, Net [Abstract] |
Real Estate - Investment Portfolio | Real Estate – Portfolio: Leases – The following outlines key information for NNN’s leases:
| June 30, 2013
Lease classification: |
Operating | 1,827 |
Direct financing | 13 |
Building portion – direct financing / land portion – operating | 4 |
Weighted average remaining lease term | 12 Years |
The leases generally provide for periodic increases in rent as a result of fixed increases, increases in the consumer price index, and/or increases in the tenant’s sales volume. Generally, the tenant is also required to pay all property taxes and assessments, substantially maintain the interior and exterior of the property and carry property and liability insurance coverage. Certain of NNN’s Properties are subject to leases under which NNN retains responsibility for specific costs and expenses of the property. Generally, the leases of the Properties provide the tenant with one or more multi-year renewal options subject to generally the same terms and conditions, including rent increases, consistent with the initial lease term. Real Estate Portfolio – Accounted for Using the Operating Method – Real estate subject to operating leases consisted of the following as of (dollars in thousands):
| June 30, 2013 |  | December 31, 2012
Land and improvements | $ | 1,613,418 |  |  | $ | 1,471,831 |
Buildings and improvements | 2,843,906 |  |  | 2,563,086 |
Leasehold interests | 1,290 |  |  | 1,290 |
| 4,458,614 |  |  | 4,036,207 |
Less accumulated depreciation and amortization | (370,278 | ) |  | (331,432 | )
| 4,088,336 |  |  | 3,704,775 |
Work in progress | 70,607 |  |  | 86,507 |
| $ | 4,158,943 |  |  | $ | 3,791,282 |

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 10 -Subparagraph 4 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 11 -Article 9 + Details
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- Details
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