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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 20,007,000 $ 20,067,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of real estate, net (9,837,000) (9,824,000)
Gain on available-for-sale securities   (27,000)
Prepayment costs on debt   577,000
Impairment loss 153,000  
Increase in unbilled rent receivable (509,000) (1,757,000)
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 (654,000) (465,000)
Amortization of restricted stock expense 2,341,000 2,176,000
Equity in earnings of unconsolidated joint ventures (663,000) (794,000)
Distributions of earnings from unconsolidated joint ventures 584,000 755,000
Depreciation and amortization 15,858,000 13,246,000
Amortization and write-off of deferred financing costs 717,000 644,000
Payment of leasing commissions (67,000) (1,041,000)
Decrease (increase) in escrow, deposits, other assets and receivables 165,000 (1,153,000)
Increase (decrease) in accrued expenses and other liabilities 1,377,000 (121,000)
Net cash provided by operating activities 30,144,000 22,480,000
Cash flows from investing activities:    
Purchase of real estate (35,443,000) (118,589,000)
Improvements to real estate (2,321,000) (3,900,000)
Net proceeds from sale of real estate 24,093,000 40,207,000
Net proceeds from sale of available-for-sale securities   33,000
Distributions of capital from unconsolidated joint ventures 298,000 305,000
Net cash used in investing activities (13,373,000) (81,944,000)
Cash flows from financing activities:    
Scheduled amortization payments of mortgages payable (7,808,000) (6,621,000)
Repayment of mortgages payable (11,541,000) (38,115,000)
Proceeds from mortgage financings 21,210,000 111,102,000
Proceeds from sale of common stock, net 3,067,000 14,297,000
Proceeds from bank line of credit 34,500,000 86,000,000
Repayment on bank line of credit (38,100,000) (81,450,000)
Issuance of shares through dividend reinvestment plan 3,357,000 2,188,000
Payment of financing costs (150,000) (1,260,000)
Prepayment costs on debt   (577,000)
Capital contributions from non-controlling interests   30,000
Distributions to non-controlling interests (148,000) (236,000)
Cash distributions to common stockholders (23,652,000) (20,985,000)
Net cash (used in) provided by financing activities (19,265,000) 64,373,000
Net (decrease) increase in cash and cash equivalents (2,494,000) 4,909,000
Cash and cash equivalents at beginning of year 17,420,000 12,736,000
Cash and cash equivalents at end of period 14,926,000 17,645,000
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest expense 13,350,000 12,590,000
Cash paid during the period for income taxes 63,000 45,000
Cash paid during the period for Federal excise tax   190,000
Supplemental schedule of non-cash investing activities:    
Purchase accounting allocation - intangible lease assets 4,009,000 8,194,000
Purchase accounting allocation - intangible lease liabilities $ (158,000) $ (6,288,000)