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Concentration of Credit Risk
 6 Months Ended
Jun. 30, 2012
Concentration of Credit Risk [Abstract]  
Concentration of Credit Risk Note 3. Concentration of Credit Risk.

Note 3. Concentration of Credit Risk. Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash and cash equivalents. The Company may maintain deposits in federally insured financial institutions in excess of federally insured limits. However, the Company’s management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.

As of June 30, 2012, the Company owned six properties located in Northern New Jersey/New York City, which accounted for approximately 38.7% of its annualized base rent, which is based on contractual base rent from leases in effect as of June 30, 2012, excluding any partial or full rent abatements.

Other real estate companies compete with the Company in its real estate markets. This results in competition for tenants to occupy space. The existence of competing properties could have a material impact on the Company’s ability to lease space and on the level of rent that can be achieved. The Company had ten tenants that accounted for approximately 56.1% of the rental revenues for the six months ended June 30, 2012.