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Lease Termination Fee Income | 9 Months Ended
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Sep. 30, 2015
Lease Termination Fee Income |
Lease Termination Fee Income | Note 8 — Lease Termination Fee Income In March 2015, the Company received a $650,000 lease termination fee from an industrial tenant in a lease buy-out transaction. In connection with the receipt of this fee, the Company wrote-off $226,000 as an offset to rental income, representing the entire balance of the unbilled rent receivable related to the sole tenant at this property. The Company re-leased this property simultaneously with the termination of the lease. In June 2014, the Company received a $1,269,000 lease termination fee from a retail tenant in a lease buy-out transaction. In connection with the receipt of this fee, the Company wrote-off $150,000 as an offset to rental income, representing the entire balance of the unbilled rent receivable and the intangible lease asset related to this property. The Company re-leased this property simultaneously with the termination of the lease. In October 2015, the Company received a $1,286,000 lease termination fee from a retail tenant in a lease buy-out transaction. In connection with this transaction, the Company, during the three months ending December 31, 2015, will write off $179,000 as an offset to rental income, representing the entire balance of the unbilled rent receivable related to this tenant at the property. The Company re-leased substantially all of such space.

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- Definition The entire disclosure for lease termination fee income. + References No definition available. + Details
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