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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 56,720 $ 52,931 $ 57,988
Adjustments to reconcile net income to net cash provided by operating activities:      
Change in fair value of derivatives 6 10 10
Gains on sales of properties (1,013) (11) (6,069)
Depreciation and amortization of deferred leasing costs 44,417 43,270 41,203
Amortization of deferred debt costs 1,343 1,433 1,327
Non cash compensation costs of stock grants and options 1,603 1,434 1,240
Provision for credit losses 1,494 915 680
Increase in accounts receivable and accrued income (3,516) (5,207) (3,320)
Additions to deferred leasing costs (4,633) (5,563) (4,048)
Increase in prepaid expenses (399) (570) (60)
(Increase) decrease in other assets (6,377) 1,535 (694)
Increase (decrease) in accounts payable, accrued expenses and other liabilities 921 (937) 1,149
Decrease in deferred income (1,476) (344) (2,838)
Net cash provided by operating activities 89,090 88,896 86,568
Cash flows from investing activities:      
Acquisitions of real estate investments [1] (48,250) (4,894) (57,494)
Additions to real estate investments (15,564) (18,855) (14,986)
Additions to development and redevelopment projects (27,231) (45,870) (17,788)
Proceeds from sale of properties 4,771 32 6,679
Net cash used in investing activities (86,274) (69,587) (83,589)
Cash flows from financing activities:      
Proceeds from mortgage notes payable [1] 11,250 46,000 0
Repayments on mortgage notes payable (24,653) (52,963) (22,071)
Proceeds from construction loans payable 24,937 39,817 5,391
Proceeds from revolving credit facility 78,500 20,000 90,000
Repayments on revolving credit facility (57,500) (35,000) (47,000)
Additions to deferred debt costs (125) (296) (1,264)
Proceeds from the issuance of:      
Common stock 21,564 15,583 15,596
Partnership units 6,910 5,673 8,877
Distributions to:      
Preferred stockholders (12,375) (12,375) (13,474)
Common stockholders (39,472) (35,645) (32,346)
Noncontrolling interests (13,533) (12,228) (11,117)
Net cash used in financing activities (4,497) (21,434) (8,148)
Net increase (decrease) in cash and cash equivalents (1,681) (2,125) (5,169)
Cash and cash equivalents, beginning of year 10,003 12,128 17,297
Cash and cash equivalents, end of year 8,322 10,003 12,128
Supplemental disclosure of cash flow information:      
Cash paid for interest 44,066 45,965 45,443
Increase (decrease) in accrued real estate investments and development costs (7,098) 5,201 1,548
Notes payable from sale and leaseback     11,000
Series A Preferred Stock      
Proceeds from the issuance of:      
Series A preferred stock redemption payment 0 0 (40,000)
Distributions to:      
Preferred stockholders 0 0 (3,849)
Series C Preferred Stock      
Proceeds from the issuance of:      
Series C preferred stock 0 0 39,260
Distributions to:      
Preferred stockholders $ (12,375) $ (12,375) $ (9,625)
[1] The 2014 acquisition of real estate and proceeds from notes payable each exclude $11,000 in connection with the sale and leaseback of the Company's Olney property.