XML 58 R10.htm IDEA: XBRL DOCUMENT v2.4.1.9
Concentration Of Credit Risk
3 Months Ended
Mar. 31, 2015
Concentration Of Credit Risk [Abstract]  
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 March 31, 2015, the Company owned 41 buildings and 2.6 million square feet located in Northern New Jersey/New York City and 25 buildings and 2.7 million square feet located in Washington D.C./Baltimore, which accounted for approximately 48.9% of its annualized base rent, which is based on contractual base rent from leases in effect as of March 31, 2015, 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 no tenants that accounted for greater than 10% of total revenues for the three months ended March 31, 2015.