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Real Estate Acquired and Sold
 9 Months Ended
Sep. 30, 2016
Business Combinations [Abstract]  
Real Estate Acquired and Sold
Real Estate Acquired and Sold
700 and 726 N. Glebe Road
In September 2015, the Company purchased for $4.0 million, 726 N. Glebe Road and incurred acquisition costs of $56,700. In August 2016, the Company purchased for $7.2 million, including acquisition costs, 700 N. Glebe Road. The properties are contiguous with two other properties owned by the Company and are located in Arlington, Virginia.
Westview Pad
In February 2015, the Company purchased for $0.9 million, including acquisition costs, a 1.1 acre retail pad site in Frederick, Maryland, which is contiguous with and an expansion of the Company's other Westview asset.
Thruway Pad
In August 2016, the Company purchased for $3.1 million, a retail pad site with an occupied bank building in
Winston Salem, North Carolina, and incurred acquisition costs of $57,000. The property is contiguous with and an expansion of the Company's Thruway asset.
Allocation of Purchase Price of Real Estate Acquired
The Company allocates the purchase price of real estate investment properties to various components, such as land, buildings and intangibles related to in-place leases and customer relationships, based on their fair values. See Note 2. Summary of Significant Accounting Policies-Real Estate Investment Properties.
During 2016, the Company purchased two properties at a cost of $10.3 million and incurred acquisition costs of $57,000. Of the total purchase price, $9.4 million was allocated to land, $0.9 million was allocated to building, $0.1 million was allocated to in-place lease and ($0.1) million was allocated to below market rent.