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Investments in Real Estate and Real Estate Under Construction (Tables) | 12 Months Ended
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Dec. 31, 2016
Investments in Real Estate and Real Estate Under Construction [Line Items] |
Schedule of Net Real Estate | The Company's real estate, net, consists of the following at December 31, 2016 and 2015:
|  | 2016 |  | 2015
Real estate, at cost: |  |  |  |
Buildings and building improvements |  | $ | 3,050,082 |  |  | $ | 3,032,457 |
Land, land estates and land improvements |  | 472,394 |  |  | 743,125 |
Fixtures and equipment |  | 5,577 |  |  | 5,577 |
Construction in progress |  | 5,119 |  |  | 8,552 |
Real estate intangibles: |  |  |  |
In-place lease values |  | 436,185 |  |  | 513,564 |
Tenant relationships |  | 113,839 |  |  | 123,796 |
Above-market leases |  | 47,270 |  |  | 55,418 |
Investments in real estate under construction |  | 106,652 |  |  | 95,402 |
|  | 4,237,118 |  |  | 4,577,891 |
Accumulated depreciation and amortization(1) |  | (1,208,792 | ) |  | (1,179,969 | )
Real estate, net |  | $ | 3,028,326 |  |  | $ | 3,397,922 |
(1) | Includes accumulated amortization of real estate intangible assets of $363,861 and $367,762 in 2016 and 2015, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $30,919 in 2017, $26,664 in 2018, $21,742 in 2019, $17,598 in 2020 and $16,135 in 2021.
Schedule of Acquired Properties | The Company completed the following acquisitions and build-to-suit transactions during 2016 and 2015: 2016:
|  |  |  |  |  |  |  |  | Real Estate Intangibles
Property Type | Location | Acquisition Date | Initial Cost Basis | Lease Expiration | Land and Land Estate |  | Building and Improvements |  | Lease in-place Value |  | Below Market Lease
Industrial | Detroit, MI | January 2016 | $ | 29,697 |  | 10/2035 | $ | 1,133 |  |  | $ | 25,009 |  |  | $ | 3,555 |  |  | $ | — |
Industrial | Anderson, SC | June 2016 | 61,347 |  | 06/2036 | 4,663 |  |  | 45,011 |  |  | 11,673 |  |  | — |
Industrial | Wilsonville, OR | September 2016 | 43,100 |  | 10/2032 | 6,815 |  |  | 32,380 |  |  | 5,920 |  |  | (2,015 | )
Office | Lake Jackson, TX | November 2016 | 78,484 |  | 10/2036 | 4,357 |  |  | 74,127 |  |  | — |  |  | — |
Industrial | Romeoville, IL | Demember 2016 | 52,700 |  | 10/2031 | 7,524 |  |  | 40,167 |  |  | 5,009 |  |  | — |
Industrial | Edwardsville, IL | December 2016 | 44,800 |  | 09/2026 | 4,593 |  |  | 34,251 |  |  | 5,956 |  |  | — |
|  |  | $ | 310,128 |  |  | $ | 29,085 |  |  | $ | 250,945 |  |  | $ | 32,113 |  |  | $ | (2,015 | )
Weighted-average life of intangible assets (years) |  |  |  |  |  |  | 16.6 |  |  | 16.1 |
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
Other | 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 |
Schedule of Development Arrangements Outstanding | As of December 31, 2016, the Company had the following development arrangements outstanding:
Location | Property Type | Square Feet |  | Maximum Commitment/Estimated Completion Cost |  | Lease Term (Years) |  | Estimated Completion/Acquisition Date |  | GAAP Investment Balance as of 12/31/2016
Lake Jackson, TX(1) | Office | 275 |  |  | $ | 78,447 |  |  | 20 |  | 1Q 17 |  | $ | 55,960 |
Charlotte, NC | Office | 201 |  |  | 62,445 |  |  | 15 |  | 2Q 17 |  | 40,443 |
Opelika, AL | Industrial | 165 |  |  | 37,000 |  |  | 25 |  | 2Q 17 |  | 10,249 |
|  | 641 |  |  | $ | 177,892 |  |  |  |  |  |  | $ | 106,652 |
(1) | Joint venture arrangement with developer. The Company currently has a 100% economic interest. Three of four buildings completed in 2016. Estimated completion cost and GAAP investment balance at December 31, 2016 reflect the fourth building.
Purchase Commitment, Excluding Long-term Commitment | In addition, as of December 31, 2016, the Company had the following forward purchase commitments:
Location | Sq. Ft. | Property Type |  | Maximum Acquisition Cost |  | Estimated Acquisition Date |  | Approximate Lease Term (Yrs)
Grand Prairie, TX | 215 |  | Industrial |  | $ | 24,725 |  |  | 2Q 17 |  | 20
Warren, MI(1) | 260 |  | Industrial |  | 47,000 |  |  | 3Q 17 |  | 15
| 475 |  |  |  | $ | 71,725 |  |  |  |  |
(1) | The Company issued a $4,600 letter of credit to secure its obligation to purchase the property.
LCIF [Member] |
Investments in Real Estate and Real Estate Under Construction [Line Items] |
Schedule of Net Real Estate | The Partnership's real estate, net, consists of the following at December 31, 2016 and 2015:
|  | 2016 |  | 2015
Real estate, at cost: |  |  |  |
Buildings and building improvements |  | $ | 644,173 |  |  | $ | 705,547 |
Land, land estates and land improvements |  | 86,120 |  |  | 355,608 |
Fixtures and equipment |  | 84 |  |  | 84 |
Construction in progress |  | 825 |  |  | 367 |
Real estate intangibles: |  |  |  |
In-place lease values |  | 82,190 |  |  | 165,413 |
Tenant relationships |  | 19,943 |  |  | 20,256 |
Above-market leases |  | 2,628 |  |  | 4,031 |
Investment in real estate under construction |  | 40,443 |  |  | 9,223 |
|  | 876,406 |  |  | 1,260,529 |
Accumulated depreciation and amortization(1) |  | (236,930 | ) |  | (255,024 | )
Real estate, net |  | $ | 639,476 |  |  | $ | 1,005,505 |
(1) | Includes accumulated amortization of real estate intangible assets of $54,425 and $55,334 in 2016 and 2015, respectively. The estimated amortization of the above real estate intangible assets for the next five years is $4,767 in 2017, $4,215 in 2018, $3,466 in 2019, $3,353 in 2020 and $3,339 in 2021.
Schedule of Acquired Properties | The Partnership, through property owner subsidiaries, completed the following build-to-suit transaction during 2015:
Property Type |  | Location |  | Acquisition |  | Initial Cost Basis |  | Lease Expiration |  | Land and Land Estates |  | Building and Improvements | Lease in-place Value
Industrial |  | Richland, WA |  | Nov-15 |  | $ | 152,000 |  |  | 08/2035 |  | 1,293 |  |  | 126,947 |  |  | 23,760 |
Life of intangible asset (years) |  |  |  |  |  |  |  | 19.8 |
The Partnership, through property owner subsidiaries, completed the following acquisition during 2016:
Property Type |  | Location |  | Acquisition |  | Initial Cost Basis |  | Lease Expiration |  | Land |  | Building and Improvements | Lease in-place Value
Industrial |  | Romeoville, IL |  | Dec-16 |  | $ | 52,700 |  |  | 10/2031 |  | $ | 7,524 |  |  | $ | 40,167 |  |  | $ | 5,009 |
Life of intangible asset (years) |  |  |  |  |  |  |  | 14.9 |
Schedule of Development Arrangements Outstanding | As of December 31, 2016, the Partnership had the following development arrangement outstanding:
Location |  | Property Type |  | Square Feet |  | Expected Maximum Commitment |  | Lease Term (Years) |  | Estimated Completion Date |  | GAAP Investment Balance as of 12/31/16
Charlotte, NC |  | Office |  | 201 |  |  | $ | 62,445 |  |  | 15 |  | 2Q 17 |  | $ | 40,443 |

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