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Real Estate Investments (Tables) | 12 Months Ended
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Dec. 31, 2016
Real Estate [Abstract] |
Schedule of Real Estate Properties [Table Text Block] | The Company’s real estate investments consisted of the following as of December 31, 2016 and December 31, 2015 (in thousands, except number of properties):
|  | December 31, |  | December 31, |
|  | 2016 |  | 2015 |
Number of Properties |  |  | 366 |  |  | 278 |
Gross Leasable Area |  |  | 7,033 |  |  | 5,207 |
Land |  | $ | 309,687 |  | $ | 225,274 |
Buildings |  | $ | 703,506 |  | $ | 526,912 |
Property under Development |  | $ | 6,764 |  | $ | 3,663 |
Gross Real Estate Investments |  | $ | 1,019,957 |  | $ | 755,849 |
Less Accumulated Depreciation |  | $ | (69,696) |  | $ | (56,401) |
Net Real Estate Investments |  | $ | 950,261 |  | $ | 699,448 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The following table details lease intangibles, net of accumulated amortization, as of December 31, 2016 and December 31, 2015 (in thousands):
|  | December 31, |  | December 31, |
|  | 2016 |  | 2015 |
Intangible Lease Asset - In-Place Leases |  | $ | 62,422 |  | $ | 47,052 |
Less: Accumulated Amortization |  |  | (11,976) |  |  | (7,239) |
Intangible Lease Asset - Above-Market Leases |  |  | 103,116 |  |  | 61,241 |
Less: Accumulated Amortization |  |  | (13,690) |  |  | (7,367) |
Intangible Lease Liability - Below-Market Leases |  |  | (37,126) |  |  | (21,163) |
Less: Accumulated Amortization |  |  | 7,078 |  |  | 4,028 |
Lease Intangible Asset, net |  | $ | 109,824 |  | $ | 76,552 |
Operating Leases, Future Minimum Payments Receivable [Table Text Block] | As of December 31, 2016, the future minimum rental income to be received under the terms of all non-cancellable tenant leases is as follows (in thousands):
For the Year Ending December 31, |  |  |  |
2017 |  | $ | 91,308 |
2018 |  |  | 90,109 |
2019 |  |  | 87,285 |
2020 |  |  | 84,578 |
2021 |  |  | 81,195 |
Thereafter |  |  | 575,249 |
Total |  | $ | 1,009,724 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | As of December 31, 2016, future annual lease commitments under these agreements are as follows (in thousands):
For the Year Ending December 31, |  |  |  |
2017 |  | $ | 640 |
2018 |  |  | 641 |
2019 |  |  | 634 |
2020 |  |  | 632 |
2021 |  |  | 588 |
Thereafter |  |  | 7,840 |
Total |  | $ | 10,975 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma total revenue and income before discontinued operations for 2016, 2015 and 2014, assumes all of our 2016 acquisitions had taken place on January 1, 2016 for the 2016 pro forma information, January 1, 2015 for the 2015 proforma information, and on January 1, 2014 for the 2014 pro forma information (in thousands):
Supplemental pro forma for the year ended December 31, 2016 (1) |  |  |  |
Total Revenue |  | $ | 104,178 |
Income before discontinued operations |  | $ | 56,375 |
Supplemental pro forma for the year ended December 31, 2015 (1) |  |  |  |
Total Revenue |  | $ | 79,056 |
Income before discontinued operations |  | $ | 36,149 |
Supplemental pro forma for the year ended December 31, 2014 (1) |  |  |  |
Total Revenue |  | $ | 57,840 |
Income before discontinued operations |  | $ | 19,369 |
| (1) | This unaudited pro forma supplemental information does not purport to be indicative of what our operating results would have been had the acquisitions occurred on January 1, 2016, January 1, 2015 or January 1, 2014 and may not be indicative of future operating results. Various acquisitions were of newly leased or constructed assets and may not have been in service for the full periods shown.
Schedule of Completed or Commenced Construction on 14 Development [Table Text Block] | For the year ended December 31, 2016, the Company completed or commenced construction on 14 development or PCS projects net leased to a number of industry-leading retail tenants. Total anticipated project costs for those developments are approximately $38.0 million and include the following completed or commenced projects:
Tenant |  | Location |  | Lease Structure |  | Lease Term |  | Actual or Anticipated Rent Commencement |  | Status |
Hobby Lobby |  | Springfield, OH |  | Build-to-Suit |  | 15 Years |  | Q1 2016 |  | Completed |
Family Fare Quick Stop |  | Marshall, MI |  | Ground Lease |  | 10 Years |  | Q2 2016 |  | Completed |
Burger King(1) |  | Farr West, UT |  | Build-to-Suit |  | 20 Years |  | Q2 2016 |  | Completed |
Chick-fil-A |  | Frankfort, KY |  | Ground Lease |  | 20 Years |  | Q3 2016 |  | Completed |
Burger King(1) |  | Devil's Lake, ND |  | Build-to-Suit |  | 20 Years |  | Q3 2016 |  | Completed |
Wawa |  | Orlando, FL |  | Ground Lease |  | 20 Years |  | Q3 2016 |  | Completed |
Starbucks |  | North Lakeland, FL |  | Build-to-Suit |  | 10 Years |  | Q4 2016 |  | Completed |
Burger King(1) |  | Hamilton, MT |  | Build-to-Suit |  | 20 Years |  | Q4 2016 |  | Completed |
Texas Roadhouse |  | Mount Pleasant, MI |  | Ground Lease |  | 15 Years |  | Q4 2016 |  | Completed |
Burger King(1) |  | West Fargo, ND |  | Build-to-Suit |  | 20 Years |  | Q4 2016 |  | Completed |
Camping World |  | Tyler, TX |  | Build-to-Suit |  | 20 Years |  | Q1 2017 |  | Under Construction |
Burger King(1) |  | Heber, UT |  | Build-to-Suit |  | 20 Years |  | Q1 2017 |  | Under Construction |
Camping World |  | Georgetown, KY |  | Build-to-Suit |  | 20 Years |  | Q3 2017 |  | Under Construction |
Orchard Supply |  | Boynton Beach, FL |  | Build-to-Suit |  | 15 Years |  | Q3 2017 |  | Under Construction |
(1) Franchise restaurants operated by Meridian Restaurants Unlimited, LC.
Schedule Of Real Estate Investments Including Identifiable Intangible Assets Impairment [Table Text Block] | As a result of our review of Real Estate Investments we recognized the following real estate impairment charges for the year ended December 31(in thousands):
|  | 2016 |  | 2015 |  | 2014 |
Continuing operations |  | $ | - |  | $ | - |  | $ | 3,020 |
Discontinued operations |  |  | - |  |  | - |  |  | - |
Total |  | $ | - |  | $ | - |  | $ | 3,020 |

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