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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 12,879,000 $ 15,743,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of real estate, net (6,568,000) (9,705,000)
Gain on available-for-sale securities   (27,000)
Prepayment costs on debt   577,000
Loss on derivative instrument reclassified into interest expense 118,000  
Increase in unbilled rent receivable (344,000) (1,141,000)
Write-off of unbilled rent receivable 362,000 7,000
Bad debt expense 310,000 190,000
Amortization and write-off of intangibles relating to leases, net (422,000) (294,000)
Amortization of restricted stock expense 1,657,000 1,406,000
Equity in earnings of unconsolidated joint ventures (451,000) (566,000)
Distributions of earnings from unconsolidated joint ventures 396,000 394,000
Depreciation and amortization 10,743,000 8,583,000
Amortization and write-off of deferred financing costs 454,000 455,000
Payment of leasing commissions (36,000) (874,000)
Decrease (increase) in escrow, deposits, other assets and receivables 572,000 (1,015,000)
Increase (decrease) in accrued expenses and other liabilities 551,000 (1,521,000)
Net cash provided by operating activities 20,221,000 12,212,000
Cash flows from investing activities:    
Purchase of real estate (35,432,000) (47,268,000)
Improvements to real estate (643,000) (2,041,000)
Net proceeds from sale of real estate 9,173,000 40,051,000
Net proceeds from sale of available-for-sale securities   33,000
Distributions of capital from unconsolidated joint ventures 141,000 253,000
Net cash used in investing activities (26,761,000) (8,972,000)
Cash flows from financing activities:    
Scheduled amortization payments of mortgages payable (5,162,000) (4,216,000)
Repayment of mortgages payable   (38,115,000)
Proceeds from mortgage financings 5,190,000 63,700,000
Proceeds from sale of common stock, net 649,000 5,807,000
Proceeds from bank line of credit 26,500,000 39,500,000
Repayment on bank line of credit (10,000,000) (32,400,000)
Issuance of shares through dividend reinvestment plan 2,145,000 1,308,000
Refund (payment) of financing costs 27,000 (1,334,000)
Prepayment costs on debt   (577,000)
Capital contributions from non-controlling interests   30,000
Distributions to non-controlling interests (127,000) (225,000)
Cash distributions to common stockholders (15,718,000) (13,897,000)
Net cash provided by financing activities 3,504,000 19,581,000
Net (decrease) increase in cash and cash equivalents (3,036,000) 22,821,000
Cash and cash equivalents at beginning of year 17,420,000 12,736,000
Cash and cash equivalents at end of period 14,384,000 35,557,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest expense 8,719,000 8,207,000
Cash paid during the period for income taxes 46,000 26,000
Cash paid during the period for Federal excise tax   190,000
Supplemental schedule of non-cash investing activities:    
Purchase accounting allocation - intangible lease assets 4,008,000 3,967,000
Purchase accounting allocation - intangible lease liabilities $ (158,000) $ (336,000)