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Investments in Real Estate and Real Estate Under Construction (Tables) | 12 Months Ended
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Dec. 31, 2015
Real Estate Investments, Net [Abstract] |
Schedule of Net Real Estate | The Company's real estate, net, consists of the following at December 31, 2015 and 2014:
|  | 2015 |  | 2014
Real estate, at cost: |  |  |  |
Buildings and building improvements |  | $ | 3,032,457 |  |  | $ | 2,895,585 |
Land, land estates and land improvements |  | 743,125 |  |  | 755,168 |
Fixtures and equipment |  | 5,577 |  |  | 5,861 |
Construction in progress |  | 8,552 |  |  | 14,946 |
Real estate intangibles: |  |  |  |
In-place lease values |  | 513,564 |  |  | 473,377 |
Tenant relationships |  | 123,796 |  |  | 133,796 |
Above-market leases |  | 55,418 |  |  | 98,393 |
Investments in real estate under construction |  | 95,402 |  |  | 106,238 |
|  | 4,577,891 |  |  | 4,483,364 |
Accumulated depreciation and amortization(1) |  | (1,179,969 | ) |  | (1,196,114 | )
Real estate, net |  | $ | 3,397,922 |  |  | $ | 3,287,250 |
(1) | Includes accumulated amortization of real estate intangible assets of $367,762 and $400,628 in 2015 and 2014, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $34,418 in 2016, $30,561 in 2017, $26,215 in 2018, $20,943 in 2019 and $16,722 in 2020.
Schedule of Acquired Properties | The Company completed the following acquisitions and build-to-suit transactions during 2015 and 2014: 2015:
|  |  |  |  |  |  |  |  | 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
Land/Infrastructure | Venice, FL | January 2015 | $ | 16,850 |  | 01/2055 | $ | 4,696 |  |  | $ | 11,753 |  |  | $ | 401 |
Office | Auburn Hills, MI | March 2015 | 40,025 |  | 03/2029 | 4,416 |  |  | 30,012 |  |  | 5,597 |
Industrial | Houston, TX | March 2015 | 28,650 |  | 03/2035 | 4,674 |  |  | 19,540 |  |  | 4,436 |
Industrial | Brookshire, TX | March 2015 | 22,450 |  | 03/2035 | 2,388 |  |  | 16,614 |  |  | 3,448 |
Industrial | Canton, MS | March 2015 | 89,300 |  | 02/2027 | 5,077 |  |  | 71,289 |  |  | 12,934 |
Industrial | Thomson, GA | May 2015 | 10,144 |  | 05/2030 | 909 |  |  | 7,746 |  |  | 1,489 |
Industrial | Oak Creek, WI | July 2015 | 22,139 |  | 06/2035 | 3,015 |  |  | 15,300 |  |  | 3,824 |
Industrial | Richland, WA | November 2015 | 152,000 |  | 08/2035 | 1,293 |  |  | 126,947 |  |  | 23,760 |
Office | Richmond, VA | December 2015 | 109,544 |  | 08/2030 | 7,331 |  |  | 88,021 |  |  | 14,192 |
|  |  | $ | 491,102 |  |  | $ | 33,799 |  |  | $ | 387,222 |  |  | $ | 70,081 |
Weighted-average life of intangible assets (years) |  |  |  |  |  | 16.8 |
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 |
Schedule of Development Arrangements Outstanding | As of December 31, 2015, the Company had the following development arrangements outstanding:
Location | Property Type | Square Feet |  | Expected Maximum Commitment/Contribution |  | Lease Term (Years) |  | Estimated Acquisition/ Completion Date |  | GAAP Investment Balance as of 12/31/15
Anderson, SC | Industrial | 1,325,000 |  |  | $ | 70,012 |  |  | 20 |  | 2Q 16 |  | $ | 23,826 |
Lake Jackson, TX | Office | 664,000 |  |  | 166,164 |  |  | 20 |  | 4Q 16 |  | 62,353 |
Charlotte, NC | Office | 201,000 |  |  | 62,445 |  |  | 15 |  | 1Q 17 |  | 9,223 |
|  | 2,190,000 |  |  | $ | 298,621 |  |  |  |  |  |  | $ | 95,402 |

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