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Investment in Real Estate - Summary of the Fair Value of Assets and Liabilities Acquired (Detail) $ in Thousands | 3 Months Ended
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Mar. 31, 2016 USD ($)
Real Estate [Abstract] |  |
Land (A) | $ 43,848 | [1]
Building and Improvements | 7,249 | [2]
Other Assets | 61 | [3]
Acquired Finite-Lived Intangible Assets [Line Items] |  |
Assumed Mortgage Loan Premium (See Note 4) | (529) |
Total Purchase Price | 51,489 |
Assumed Mortgage Loan (See Note 4) | (4,513) |
Total Net Assets Acquired | $ 46,976 |
Assumed mortgage loan premium, weighted average life | 44 months |
In-Place Leases |  |
Acquired Finite-Lived Intangible Assets [Line Items] |  |
Acquired finite lived intangible assets, fair value | $ 663 |
Acquired finite lived intangible assets, weighted average life | 32 months |
Above Market Leases |  |
Acquired Finite-Lived Intangible Assets [Line Items] |  |
Acquired finite lived intangible assets, fair value | $ 197 |
Acquired finite lived intangible assets, weighted average life | 32 months |
[1] | Included in the purchase price for the three months ended March 31, 2016, is $12,864 relating to a land parcel that we acquired and transferred to a special purpose entity to facilitate a potential Section 1031 exchange under the Code. To realize the tax deferral available under the Section 1031 exchange, we must complete the Section 1031 exchange and take title to the to-be-exchanged land parcel within 180 days of the acquisition date. We determined that this special purpose entity is a variable interest entity ("VIE"), and we are the primary beneficiary. Therefore, we consolidate this entity. As of March 31, 2016, this VIE has no significant liabilities or significant cash flows.
[2] | See Note 2 to the consolidated financial statements in our 2015 Form 10-K for the disclosure of useful lives of our Investment in Real Estate and our Depreciation policy.
[3] | Represents a leasing commission, which is included in prepaid expenses and other assets, net on the consolidated balance sheets and amortized over the remaining term of the lease.

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- Definition Amount of facility held for productive use including, but not limited to, office, production, storage and distribution facilities, acquired at the acquisition date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
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- Definition Amount of real estate acquired, at the acquisition date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
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