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Investments in Real Estate and Real Estate Under Construction (Tables) | 12 Months Ended
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Dec. 31, 2014
Real Estate Investments, Net [Abstract] |
Schedule of Net Real Estate | The Company's real estate, net, consists of the following at December 31, 2014 and 2013:
|  | 2014 |  | 2013
Real estate, at cost: |  |  |  |
Buildings and building improvements |  | $ | 2,895,585 |  |  | $ | 3,008,709 |
Land, land estates and land improvements |  | 755,168 |  |  | 793,418 |
Fixtures and equipment |  | 5,861 |  |  | 5,861 |
Construction in progress |  | 14,946 |  |  | 4,306 |
Real estate intangibles: |  |  |  |
In-place lease values |  | 473,377 |  |  | 486,743 |
Tenant relationships |  | 133,796 |  |  | 172,640 |
Above-market leases |  | 98,393 |  |  | 102,774 |
Investments in real estate under construction |  | 106,238 |  |  | 74,350 |
|  | 4,483,364 |  |  | 4,648,801 |
Accumulated depreciation and amortization(1) |  | (1,196,114 | ) |  | (1,223,381 | )
Real estate, net |  | $ | 3,287,250 |  |  | $ | 3,425,420 |
(1) | Includes accumulated amortization of real estate intangible assets of $400,628 and $447,764 in 2014 and 2013, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $35,894 in 2015, $30,221 in 2016, $26,905 in 2017, $23,179 in 2018 and $18,014 in 2019.
Schedule of Acquired Properties | The Company completed the following acquisitions and build-to-suit transactions during 2014 and 2013: 2014:
|  |  |  |  |  |  |  |  | Real Estate Intangible
Property Type | Location | Acquisition/Completion Date | Initial Cost Basis | Lease Expiration | Land and Land Estate |  | Building and Improvements |  | Lease in-place Value
Industrial | Rantoul, IL | January 2014 | $ | 41,277 |  | 10/2033 | $ | 1,304 |  |  | $ | 32,562 |  |  | $ | 7,411 |
Office | Parachute, CO | January 2014 | $ | 13,928 |  | 10/2032 | $ | 1,400 |  |  | $ | 10,751 |  |  | $ | 1,777 |
Office | Rock Hill, SC | March 2014 | $ | 24,715 |  | 03/2034 | $ | 1,601 |  |  | $ | 18,989 |  |  | $ | 4,125 |
Industrial | Lewisburg, TN | May 2014 | $ | 13,320 |  | 03/2026 | $ | 173 |  |  | $ | 10,865 |  |  | $ | 2,282 |
Industrial | North Las Vegas, NV | May 2014 | $ | 28,249 |  | 09/2034 | $ | 3,244 |  |  | $ | 21,444 |  |  | $ | 3,561 |
Industrial | Bingen, WA | May 2014 | $ | 20,391 |  | 05/2024 | $ | — |  |  | $ | 18,075 |  |  | $ | 2,316 |
Land | New York, NY | October 2014 | $ | 30,426 |  | 10/2113 | $ | 22,000 |  |  | $ | — |  |  | $ | 8,426 |
Rehab Hospital | Vineland, NJ | October 2014 | $ | 19,100 |  | 02/2043 | $ | 2,698 |  |  | $ | 12,790 |  |  | $ | 3,612 |
Industrial | Anniston, AL | December 2014 | $ | 20,907 |  | 11/2029 | $ | 1,201 |  |  | $ | 16,771 |  |  | $ | 2,935 |
|  |  | $ | 212,313 |  |  | $ | 33,621 |  |  | $ | 142,247 |  |  | $ | 36,445 |
Weighted-average life of intangible assets (years) |  |  |  |  |  | 37.5 |
2013:
|  |  |  |  |  |  |  |  | Real Estate Intangibles
Property Type | Location | Acquisition/Completion Date | Initial Cost Basis | Lease Expiration | Land and Land Estate |  | Building and Improvements |  | Above Market Lease Value |  | Lease in-place Value
Industrial | Long Island City, NY | February 2013 | $ | 42,124 |  | 03/2028 | $ | — |  |  | $ | 42,124 |  |  | $ | — |  |  | $ | — |
Industrial | Houston, TX | March 2013 | $ | 81,400 |  | 03/2038 | $ | 15,055 |  |  | $ | 57,949 |  |  | $ | — |  |  | $ | 8,396 |
Office (1) | Denver, CO | April 2013 | $ | 34,547 |  | 04/2028 | $ | 2,207 |  |  | $ | 26,724 |  |  | $ | — |  |  | $ | 5,616 |
Retail(2) | Tuscaloosa, AL | May 2013 | $ | 8,397 |  | 05/2028 | $ | 2,793 |  |  | $ | 5,604 |  |  | $ | — |  |  | $ | — |
Land(3) | New York, NY | October 2013 | $ | 302,000 |  | 10/2112 | $ | 224,935 |  |  | $ | — |  |  | $ | — |  |  | $ | 77,065 |
Land | Danville, VA | October 2013 | $ | 4,727 |  | 01/2029 | $ | 3,454 |  |  | $ | — |  |  | $ | 673 |  |  | $ | 600 |
Retail(4) | Albany, GA | November 2013 | $ | 7,074 |  | 11/2028 | $ | 1,468 |  |  | $ | 5,606 |  |  | $ | — |  |  | $ | — |
Office(5) | Various | December 2013 | $ | 13,144 |  | 12/2033 | $ | 1,522 |  |  | $ | 10,374 |  |  | $ | — |  |  | $ | 1,248 |
Office | Omaha, NE | December 2013 | $ | 39,125 |  | 11/2033 | $ | 2,058 |  |  | $ | 32,343 |  |  | $ | — |  |  | $ | 4,724 |
|  |  | $ | 532,538 |  |  | $ | 253,492 |  |  | $ | 180,724 |  |  | $ | 673 |  |  | $ | 97,649 |
Weighted-average life of intangible assets (years) |  |  |  |  |  | 15.3 |  |  | 82.5 |
(1) | The Company incurred additional tenant related costs of $3,825.
(2) | The Company incurred leasing costs of $323. The property was sold in September 2013.
(3) | Includes three properties.
(4) | The Company incurred leasing costs of $338.
(5) | Includes four properties. One property was under construction at December 31, 2013, $1,969 of construction in progress costs are included in building and improvements above.
Schedule of Development Arrangements Outstanding | As of December 31, 2014, the Company had the following development arrangements outstanding:
Location | Property Type | Square Feet |  | Expected Maximum Commitment/Contribution |  | Lease Term (Years) |  | Estimated Completion Date
Oak Creek, WI | Industrial | 164,000 |  |  | $ | 22,609 |  |  | 20 |  | 2Q 15
Thomson, GA | Industrial | 208,000 |  |  | $ | 10,245 |  |  | 15 |  | 2Q 15
Richmond, VA | Office | 330,000 |  |  | $ | 110,137 |  |  | 15 |  | 3Q 15
Lake Jackson, TX | Office/R&D | 664,000 |  |  | $ | 166,164 |  |  | 20 |  | 4Q 16
|  | 1,366,000 |  |  | $ | 309,155 |  |  |  |  |

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